Vb Medical Holdings
- Assets
- $3.9k
- Revenue
- $11.2k
- Investments
- $4.0
- Employees
- 0
- Location
- Harlingen, TX
- Founding
- 02/2007
- Data as of
- 08/2021
- EIN
- 77-0634227
Organization Overview
Vb Medical Holdings is located in Harlingen, TX. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vb Medical Holdings 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 08/2021, Vb Medical Holdings generated $11.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (45.3%) each year. All expenses for the organization totaled $12.3k during the year ending 08/2021. 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
DURING 2014 TAX YEAR VB MEDICAL HLDS SOLD ITS 49% INTEREST IN A JV WHICH OPERATED 2 HOSPITALS & OTHER HEALTHCARE SERVICES. THE ORGANIZATION IS IN THE PROCESS OF WINDING DOWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VB MEDICAL HOLDINGS PRESERVES THE ASSETS GENERATED FROM THE SALE OF THE HEALTH SYSTEM IN ACCORDANCE WITH CONTRACTUAL PROVISIONS, IN FURTHERANCE OF ITS EXEMPT PURPOSE TO IMPROVE THE HEALTH OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Shepard Chairman/director | OfficerTrustee | 1 | $0 |
Becky Ballenger Secretary | OfficerTrustee | 1 | $0 |
Michael Lamon Vice Chairman/director | OfficerTrustee | 1 | $0 |
Judy Quisenberry Executive Director | Officer | 2 | $0 |
Kimberly Anderson Finance Director | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $2,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,404 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,236 |
| 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. | $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 | $3,988 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $186 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $46 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,031 |
| All other expenses | $0 |
| Total functional expenses | $12,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $3,933 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,937 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,538,828 |
| Total liabilities | $1,538,828 |
| Net assets without donor restrictions | -$1,534,891 |
| 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 | $3,937 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Memorial Medical Center-San Augustine Lufkin, TX | $2,072,583 | $7,388,559 |
Crawley Memorial Hospital Inc Plano, TX | $7,539,740 | $9,156,589 |
Innis Community Health Center Inc Innis, LA | $8,332,130 | $10,800,842 |
Mercy Hospital Tishomingo Inc Tishomingo, OK | $1,167,667 | $7,475,957 |
Mercy Hospital Watonga Inc Watonga, OK | $1,160,950 | $8,551,478 |
Fairfax Medical Facilities Inc Fairfax, OK | $11,171,540 | $9,622,391 |
Arkansas Hospital Association Inc Little Rock, AR | $8,324,036 | $6,321,314 |
Hospice Of Texarkana Inc Texarkana, TX | $7,382,122 | $4,826,363 |
Mercy Medical Health Center Jonesboro, LA | $2,458,600 | $5,299,810 |
Christus Health Gulf Coast Irving, TX | $14,398,195 | $4,463,465 |
Dallas-Fort Worth Hospital Council Irving, TX | $11,096,364 | $3,713,296 |
National Healthcare Research And Education Finance Corporation Arlington, TX | $75,348,744 | $7,759 |