Flaget Healthcare Inc
- Assets
- $186.9m
- Revenue
- $94.3m
- Investments
- $0.0
- Employees
- 441
- Location
- Bardstown, KY
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 61-1345363
Organization Overview
Flaget Healthcare Inc, operating under the name Flaget Memorial Hospital, is located in Bardstown, KY. The organization was established in 1946. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2022, Flaget Memorial Hospital employed 441 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Flaget Memorial Hospital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Flaget Memorial Hospital generated $94.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $80.1m during the year ending 06/2022. While expenses have increased by 2.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HOSPITAL'S VISION IS TO BE THE PREMIER, INTEGRATED, COMPREHENSIVE HEALTH SYSTEM IN THE COMMUNITY PROVIDING HIGH QUALITY CARE CLOSE TO HOME, REDUCING THE INCIDENCE OF DISEASE AND ELIMINATING THE INEQUITIES IN ACCESS TO HEALTHCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE H.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Schumacher Director | Trustee | 1 | $0 |
Anthony Houston Director, Market CEO | Trustee | 1 | $0 |
Jennifer Nolan President Flaget | Officer | 5 | $0 |
Sharon Hager Secretary/div VP Sr Counsel | 0 | $0 | |
Christy Spitser Treasurer/market VP Of Finance | Officer | 1 | $0 |
James Monarch VP Medical Affairs | 40 | $189,362 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
U Of L Health System-louisville Rehab And Physician Services | 6/29/22 | $268,104 |
Sound Physicians Emergency Physician Call Coverage | 6/29/22 | $1,772,726 |
Hmc Service Co Building Maintenance | 6/29/22 | $251,386 |
Ballard Wright Md Psc Medical Services | 6/29/22 | $441,171 |
Cross Country Staffing Inc Staffing Services | 6/29/22 | $915,879 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $476,775 |
| Government grants | $2,692,937 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $19,837 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,169,712 |
| Total Program Service Revenue | $90,682,929 |
| Investment income | $61,121 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $94,332,383 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,052 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,594 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,976,672 |
| Pension plan accruals and contributions | $978,989 |
| Other employee benefits | $2,575,175 |
| Payroll taxes | $1,628,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,400 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $4,507 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,599,013 |
| Advertising and promotion | $621 |
| Office expenses | $1,531,918 |
| Information technology | $2,754,809 |
| Royalties | $0 |
| Occupancy | $1,661,130 |
| Travel | $39,872 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,352 |
| Interest | $0 |
| Payments to affiliates | $1,784,556 |
| Depreciation, depletion, and amortization | $3,608,145 |
| Insurance | $508,593 |
| All other expenses | $1,014,175 |
| Total functional expenses | $80,141,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,022 |
| Savings and temporary cash investments | $136,403,992 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,130,432 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $135,426 |
| Inventories for sale or use | $1,813,219 |
| Prepaid expenses and deferred charges | $161,735 |
| Net Land, buildings, and equipment | $26,980,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,048,833 |
| Total assets | $186,894,683 |
| Accounts payable and accrued expenses | $11,047,841 |
| Grants payable | $0 |
| Deferred revenue | $200,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,091,116 |
| Total liabilities | $21,338,957 |
| Net assets without donor restrictions | $165,555,726 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $186,894,683 |
Grants Awarded
Over the last fiscal year, Flaget Healthcare Inc has awarded $16,650 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NELSON CO SCHOOLS COMM SUPPORT PURPOSE: SPONSORSHIP | $6,250 |
BARDSTOWN MAINSTREET PROGRAM PURPOSE: SPONSORSHIP | $10,400 |