Richmond Medical Center
- Assets
- $435.4m
- Revenue
- $376.7m
- Investments
- $0.0
- Employees
- 2,856
- Location
- Staten Island, NY
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 74-3177454
Organization Overview
Richmond Medical Center, operating under the name Richmond University Medical Center, is located in Staten Island, NY. The organization was established in 2007. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Richmond University Medical Center employed 2,856 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richmond University Medical Center 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 12/2021, Richmond University Medical Center generated $376.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $381.3m during the year ending 12/2021. While expenses have increased by 3.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PREMIER QUALITY PATIENT CARE THROUGH A FULL SPECTRUM OF EMERGENT, ACUTE, PRIMARY, BEHAVIORAL HEALTH AND EDUCATIONAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT AND EMERGENCY MEDICALLY NECESSARY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT (STATEMENT OF PROGRAM SERVICES) WHICH INCLUDES DETAILED INFORMATION REGARDING THE VARIOUS SERVICES PROVIDED BY THIS ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel J Messina PHD Mpa Trustee - President & CEO | OfficerTrustee | 55 | $2,408,804 |
Michael F Cabbad MD Obgyn | 55 | $855,566 | |
Lance U Jung MD Surgeon | 55 | $755,641 | |
Loren Harris MD Chairman Dept Of Surgery | Officer | 55 | $751,986 |
Francesco Rotatori MD Cardiologist | 55 | $695,863 | |
Alexander Barkan MD Bariatric Surgeon | 55 | $639,242 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Corp Food/dining | 12/30/21 | $2,475,242 |
Nthrive Inc Billing | 12/30/21 | $3,588,437 |
Medical Anesthesia Specialist Medical | 12/30/21 | $1,875,000 |
Richmond Emergency Associates Medical | 12/30/21 | $1,569,916 |
Caduceus Health Billing | 12/30/21 | $1,350,070 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,327,837 |
| Government grants | $46,772,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $411,500 |
| Noncash contributions included in lines 1a–1f | $622,210 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,512,025 |
| Total Program Service Revenue | $327,236,920 |
| Investment income | $81,942 |
| Tax Exempt Bond Proceeds | $189,561 |
| Royalties | $0 |
| Net Rental Income | $400,512 |
| Net Gain/Loss on Asset Sales | $168,535 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $376,664,767 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $6,969,953 |
| Compensation of current officers, directors, key employees. | $889,326 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $181,686,815 |
| Pension plan accruals and contributions | $20,322,042 |
| Other employee benefits | $35,247,544 |
| Payroll taxes | $12,330,249 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $527,408 |
| Fees for services: Accounting | $325,435 |
| Fees for services: Lobbying | $379,124 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,332,059 |
| Advertising and promotion | $778,177 |
| Office expenses | $1,339,453 |
| Information technology | $183,005 |
| Royalties | $0 |
| Occupancy | $1,966,197 |
| Travel | $94,630 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $277,898 |
| Interest | $1,128,037 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,108,462 |
| Insurance | $10,260,896 |
| All other expenses | $4,838,399 |
| Total functional expenses | $381,251,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,246,542 |
| Savings and temporary cash investments | $5,480,755 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,619,441 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,657,095 |
| Prepaid expenses and deferred charges | $1,323,155 |
| Net Land, buildings, and equipment | $214,999,457 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $58,727,972 |
| Intangible assets | $0 |
| Other assets | $89,392,615 |
| Total assets | $435,447,032 |
| Accounts payable and accrued expenses | $99,469,994 |
| Grants payable | $0 |
| Deferred revenue | $3,525,566 |
| Tax-exempt bond liabilities | $125,254,571 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,519,274 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $119,463,591 |
| Total liabilities | $350,232,996 |
| Net assets without donor restrictions | $41,693,387 |
| Net assets with donor restrictions | $43,520,649 |
| 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 | $435,447,032 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Richmond Medical Center has recieved totaling $3,678,031.
| Awarding Organization | Amount |
|---|---|
The Staten Island Foundation Staten Island, NY PURPOSE: FOR EQUIPMENT FOR BIPLANE IMAGING AND TO EXPAND AND IMPROVE THE BIPLANE CARDIAC CATH LAB | $1,600,000 |
Organization Name not Listed PURPOSE: PROGRAM SUPPORT | | $705,627 |
Organization Name not Listed PURPOSE: PROGRAM SUPPORT | | $622,210 |
The Staten Island Foundation Staten Island, NY PURPOSE: FOR EQUIPMENT FOR BIPLANE IMAGING AND TO EXPAND AND IMPROVE THE BIPLANE CARDIAC CATH LAB | $400,000 |
Robin Hood Foundation New York, NY PURPOSE: POVERTY RELIEF | $350,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $194 |
Endowment Analysis
| Beg. Balance | $344,647 |
| Ending Balance | $344,647 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capital Health System Inc Trenton, NJ | $1,004,952,628 | $942,087,433 |
Southcoast Hospitals Group Inc New Bedford, MA | $1,265,624,200 | $959,620,935 |
Physician Affiliate Group Of New York Pc New York, NY | $38,559,626 | $838,367,537 |
South Shore University Hospital Westbury, NY | $537,264,084 | $780,287,744 |
St Barnabas Hospital Bronx, NY | $509,709,936 | $489,229,934 |
Svmc Holdings Inc Bridgeport, CT | $272,750,174 | $429,886,007 |
Barnabas Health Medical Group P C Oceanport, NJ | $150,195,711 | $412,355,034 |
Richmond Medical Center Staten Island, NY | $435,447,032 | $376,664,767 |
Virtua Medical Group Pa Marlton, NJ | $139,534,325 | $238,443,738 |
Trinitas Regional Medical Center A New Jersey Nonprofit Corporation Elizabeth, NJ | $505,269,561 | $345,999,545 |
St Lukes Hospital Anderson Campus Allentown, PA | $273,325,539 | $361,430,735 |
St Joseph Regional Health Network Reading, PA | $174,700,776 | $307,422,246 |