Health Systems Of Indian River Inc
- Assets
- $41.7m
- Revenue
- $571.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 03/1999
- Data as of
- 12/2018
- EIN
- 65-0705680
Organization Overview
Health Systems Of Indian River Inc is located in Vero Beach, FL. The organization was established in 1999. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Health Systems Of Indian River Inc 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 12/2018, Health Systems Of Indian River Inc generated $571.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.6%) each year. All expenses for the organization totaled $725.9k during the year ending 12/2018. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 4 years. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF ITS SOLE MEMBER, INDIAN RIVER MEMORIAL HOSPITAL, A SECTION 501(C)(3) ORGANIZATION, TO PROVIDE HEALTHCARE SERVICES TO THE RESIDENTS OF INDIAN RIVER COUNTY IN FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HEALTH SYSTEMS OF INDIAN RIVER, INC. HOLDS INVESTMENTS WHICH SUPPORT THE PURPOSES OF INDIAN RIVER MEMORIAL HOSPITAL, INC. IN ADDITION, HEALTH SYSTEMS OF INDIAN RIVER, INC. HOLDS THE LAND AND BUILDING WHICH ARE USED BY VERO RADIOLOGY ASSOCIATES, A DISREGARDED ENTITY OF INDIAN RIVER MEMORIAL HOSPITAL, INC. HEALTH SYSTEMS OF INDIAN RIVER, INC. ALSO HOLDS THE LAND AND BUILDING OF THE HEALTH AND WELLNESS CENTER, WHICH IS OCCUPIED BY MANY OF INDIAN RIVER MEDICAL CENTER'S PHYSICIAN PRACTICES. THE PROXIMITY OF THESE FACILITIES TO INDIAN RIVER MEMORIAL HOSPITAL PROVIDES CONVENIENTLY LOCATED MEDICAL CARE TO AREA RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerri Smith Secretary | OfficerTrustee | 1 | $0 |
Jack Pastor Vice Chairman | OfficerTrustee | 1 | $0 |
Wayne Hockmeyer PHD Chairman | OfficerTrustee | 5 | $0 |
Jack Weisbaum Treasurer | OfficerTrustee | 1 | $0 |
Jeffrey L Susi President/ceo | Officer | 1 | $0 |
George Eighmy Senior Vp, CFO (as Of 1/01/17) | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,997 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$18,757 |
| 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 | $571,189 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,999 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,703 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $278,586 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $375,638 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $725,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,854 |
| Savings and temporary cash investments | $12,849 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $344,335 |
| Total assets | $41,743,090 |
| Accounts payable and accrued expenses | $89,213 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $24,716,103 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,813,300 |
| Total liabilities | $39,618,616 |
| Net assets without donor restrictions | $2,124,474 |
| 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 |
| Total liabilities and net assets/fund balances | $2,124,474 |
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|---|---|---|
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St Marys Medical Group Inc Athens, GA | $9,650,726 | $33,044,302 |
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Florida Community Health Centers Inc West Palm Beach, FL | $36,993,376 | $44,018,992 |
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Premier Community Healthcare Group Inc Dade City, FL | $18,299,061 | $31,976,428 |
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