Heartway Corporation
- Assets
- $6.5m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 266
- Location
- Idabel, OK
- Founding
- 12/1987
- Data as of
- 06/2022
- 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 06/2022, Heartway Corporation employed 266 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 06/2022, Heartway Corporation generated $9.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $7.1m during the year ending 06/2022. 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
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 95.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vletta Kathleen Black Secretary | OfficerTrustee | 40.2 | $85,739 |
Dr Thomas W Salyer Vice President | OfficerTrustee | 0.1 | $19,500 |
Charles L Darby Jr Director | Trustee | 0.1 | $1,000 |
Daniel E Carter President | OfficerTrustee | 5.1 | $1,000 |
Blaine Barton Treasurer | OfficerTrustee | 5.1 | $1,000 |
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 |
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 | $960,687 |
| 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 | $960,687 |
| Total Program Service Revenue | $8,185,246 |
| Investment income | $0 |
| 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 | $9,291,222 |
| 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. | $108,239 |
| Compensation of current officers, directors, key employees. | $108,239 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,667,087 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $61,374 |
| Payroll taxes | $273,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,165 |
| Fees for services: Accounting | $69,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $234,734 |
| Advertising and promotion | $6,159 |
| Office expenses | $45,824 |
| Information technology | $55,791 |
| Royalties | $0 |
| Occupancy | $309,072 |
| Travel | $39,287 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $421,175 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,015 |
| Insurance | $47,319 |
| All other expenses | $240,999 |
| Total functional expenses | $7,050,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,325,290 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,293,161 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $340,333 |
| Inventories for sale or use | $34,442 |
| Prepaid expenses and deferred charges | $122,567 |
| Net Land, buildings, and equipment | $1,146,304 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $247,200 |
| Total assets | $6,509,297 |
| Accounts payable and accrued expenses | $3,308,689 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,425,710 |
| Total liabilities | $15,819,917 |
| 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 | -$9,310,620 |
| Total liabilities and net assets/fund balances | $6,509,297 |