Heartway Corporation
- Assets
- $4.0m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 142
- Location
- Idabel, OK
- Founding
- 12/1987
- Data as of
- 06/2021
- EIN
- 76-0234412
Organization Overview
Heartway Corporation is located in Idabel, OK. The organization was established in 1987. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. As of 06/2021, Heartway Corporation employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartway Corporation 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 06/2021, Heartway Corporation generated $7.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $7.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE LONG-TERM HEALTH CARE TO THE AGED AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE LONG-TERM HEALTH CARE TO THE AGED AND DISABLED. NUMBER OF BEDS AVAILABLE FOR PATIENTS IS 178. NUMBER OF PATIENTS SERVED IS 83.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vletta Kathleen Duck Secretary | OfficerTrustee | 40.2 | $78,323 |
Dr Thomas W Salyer Vice President | OfficerTrustee | 0.1 | $11,304 |
Daniel E Carter President | OfficerTrustee | 5.1 | $0 |
Blaine Barton Treasurer | OfficerTrustee | 5.1 | $0 |
Charles L Darby Jr Director | Trustee | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Realization Rehab Rehabilitation Services | 6/29/17 | $171,282 |
Medline Industries Inc Medical Supplies & Services | 6/29/17 | $114,519 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $585,612 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $585,612 |
| Total Program Service Revenue | $6,666,180 |
| Investment income | $14 |
| 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 | $7,450,542 |
| 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. | $89,627 |
| Compensation of current officers, directors, key employees. | $89,627 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,130,773 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,551 |
| Payroll taxes | $281,970 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,964 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $361,325 |
| Advertising and promotion | $7,965 |
| Office expenses | $6,380 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,899 |
| Travel | $23,425 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $617,025 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,314 |
| Insurance | $124,692 |
| All other expenses | $482,362 |
| Total functional expenses | $6,975,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,633,353 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,031,635 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $340,334 |
| Inventories for sale or use | $34,442 |
| Prepaid expenses and deferred charges | $60,731 |
| Net Land, buildings, and equipment | $943,953 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,044,448 |
| Accounts payable and accrued expenses | $6,490,581 |
| Grants payable | $0 |
| Deferred revenue | $590,518 |
| Tax-exempt bond liabilities | $6,495,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $524,486 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,068,536 |
| Total liabilities | $16,169,121 |
| Net assets without donor restrictions | $0 |
| 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 | -$12,124,673 |
| Total liabilities and net assets/fund balances | $4,044,448 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunny Vista Living Center Colorado Springs, CO | $41,304,394 | $18,743,774 |
Seven Acres Jewish Senior Care Services Inc Houston, TX | $33,296,281 | $17,291,093 |
Lakeview Christian Home Of The Southwest Inc Carlsbad, NM | $42,033,708 | $17,045,837 |
Methodist Nursing Home Of Fort Smith Inc Fort Smith, AR | $18,757,721 | $13,982,834 |
Sierra Health Care Inc Truth Or Consequences, NM | $7,172,173 | $15,373,901 |
Baptist Memorials Ministries Dallas, TX | $76,405,250 | $18,028,006 |
Crown Point Christian Village Inc St Louis, MO | $13,880,150 | $13,172,686 |
Spring River Christian Village Inc 3600 E Third St Louis, MO | $8,680,929 | $9,992,570 |
United Methodist Home Of Enid Inc Enid, OK | $6,879,064 | $13,679,398 |
St Pauls Home Kansas City, MO | $0 | $10,537,386 |
St Francis Nursing Center Colorado Springs, CO | $4,550,262 | $12,563,151 |
West Vue Inc West Plains, MO | $18,850,442 | $10,901,759 |