Vassar Health Connecticut Inc
- Assets
- $42.1m
- Revenue
- $49.6m
- Investments
- $0.0
- Employees
- 345
- Location
- Sharon, CT
- Founding
- 02/2019
- Data as of
- 09/2023
- EIN
- 81-5056290
Organization Overview
Vassar Health Connecticut Inc, operating under the name Sharon Hospital, is located in Sharon, CT. The organization was established in 2019. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Sharon Hospital employed 345 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sharon Hospital 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 09/2023, Sharon Hospital generated $49.6m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $73.7m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE HEALTH OF EVERY PERSON IN OUR COMMUNITY THROUGH THE EFFICIENT DELIVERY OF EXCELLENT, INNOVATIVE AND COMPASSIONATE CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARON HOSPITAL IS A 78-BED HOSPITAL LOCATED IN NORTHWESTERN CONNECTICUT. THE TEAM IS COMMITTED TO PROVIDING COMPASSIONATE HEALTHCARE THAT MEETS THE NEEDS OF THE COMMUNITY IT SERVES. SHARON HOSPITAL IS PART OF NUVANCE HEALTH, WHICH IS A SIX-HOSPITAL SYSTEM, ON 7 CAMPUSES, WITH NUMEROUS OUTPATIENT FACILITIES THROUGHOUT THE HUDSON VALLEY AND ACROSS WESTERN CONNECTICUT. THE NUVANCE HEALTH SYSTEM GIVES THE COMMUNITY ACCESS TO A VARIETY OF SERVICES INCLUDING, BUT NOT LIMITED TO, BARIATRIC SURGERY AND MEDICAL WEIGHT LOSS, BLOOD DRAW, CRITICAL CARE, DIABETES EDUCATION, EMERGENCY SERVICES, HEART AND VASCULAR, IMAGING AND RADIOLOGY, INFUSION THERAPY, NEUROLOGY AND NEUROSURGERY, ORTHOPEDIC CARE, PHYSICAL REHABILITATION, PRIMARY CARE, RHEUMATOLOGY, SLEEP DISORDERS, URGENT CARE, WOMEN'S HEALTH, BEHAVIORAL HEALTH, CANCER CARE, DENTISTRY, DIGESTIVE HEALTH, ENDOCRINOLOGY, GENETIC COUNSELING, HOME HEALTH CARE, INFECTIOUS DISEASE, KIDNEY DISEASE AND NEPHROLOGY, OCCUPATIONAL MEDICINE, PATIENT BLOOD MANAGEMENTS AND BLOODLESS MEDICINE, PEDIATRICS, PODIATRY, PULMONARY CARE, SENIOR CARE AND GERIATRIC MEDICINE, SURGICAL SERVICES, UROLOGY, WOUND CARE AND HYPERBARIC MEDICINE. SHARON HOSPITAL PROVIDES A FULL RANGE OF SERVICES INCLUDING BARIATRIC SURGERY, CARDIOLOGY SERVICES, EMERGENCY CARE, NEUROSCIENCES, ORTHOPEDICS, STROKE CARE, SURGICAL SERVICES, AND WOMEN'S SERVICES. SHARON HOSPITAL IS COMMITTED TO PROVIDING QUALITY SERVICE TO THE COMMUNITY AND HAS BEEN RECOGNIZED BY SEVERAL ORGANIZATIONS FOR THE QUALITY HEALTHCARE THAT IT PROVIDES TO THE REGION. THE CENTERS FOR MEDICARE AND MEDICAID SERVICES HAVE AWARDED SHARON HOSPITAL A FIVE-STAR RATING FOR THE LAST THREE YEARS IN A ROW. THE HOSPITAL HAS ALSO RECEIVED THE GET WITH THE GUIDELINES STROKE GOLD PLUS BY THE AMERICAN HEART ASSOCIATION AND AMERICAN STROKE ASSOCIATION. IN FY23, SHARON HOSPITAL HAD 8,359 PATIENT DAYS AND 1,656 DISCHARGES IN ACUTE CARE. THERE WERE 11,551 IN EMERGENCY ROOM VISITS AND 43,427 IN OTHER OUTPATIENT VISITS/PROCEDURES. THE HOSPITAL PROVIDED APPROXIMATELY $2.2M IN CHARITY CARE TO THE REGIONS UN-INSURED AND UNDER-INSURED POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President Sharon Hospital | OfficerTrustee | 46 | $276,370 |
Name Not Listed Vice Chairman | OfficerTrustee | 3 | $0 |
Name Not Listed Chairman | OfficerTrustee | 3 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director (to 05/12) | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sbk Construction Com Llc Renovations/repairs | 9/29/23 | $381,983 |
Physicians For Women's Health Llc Ob/gyn On-call | 9/29/23 | $408,206 |
North American Partners In Anesthesia Llc Anesthesiology Services | 9/29/23 | $250,000 |
Advantage Heating And Air Conditioning Llc Installations/repairs | 9/29/23 | $231,148 |
Sharon Lawn And Landscaping Llc Grounds Maintenance | 9/29/23 | $268,002 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $242,050 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $253,313 |
| Total Program Service Revenue | $48,664,072 |
| Investment income | $19,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $104,527 |
| Net Gain/Loss on Asset Sales | $188,874 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,599,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $443,027 |
| Compensation of current officers, directors, key employees. | $54,124 |
| Compensation to disqualified persons | $22,797 |
| Other salaries and wages | $29,679,022 |
| Pension plan accruals and contributions | $879,420 |
| Other employee benefits | $3,555,691 |
| Payroll taxes | $1,545,720 |
| Fees for services: Management | $7,797 |
| Fees for services: Legal | $76,155 |
| Fees for services: Accounting | $186,282 |
| Fees for services: Lobbying | $26,673 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,155 |
| Fees for services: Other | $8,247,815 |
| Advertising and promotion | $91,725 |
| Office expenses | $981,507 |
| Information technology | $1,188,778 |
| Royalties | $0 |
| Occupancy | $1,920,399 |
| Travel | $34,590 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,329 |
| Interest | $42,379 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,333,940 |
| Insurance | $938,192 |
| All other expenses | $35 |
| Total functional expenses | $73,683,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,063,193 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,978,396 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,124,584 |
| Prepaid expenses and deferred charges | $480,716 |
| Net Land, buildings, and equipment | $24,449,742 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,604,850 |
| Other assets | $2,355,640 |
| Total assets | $42,057,121 |
| Accounts payable and accrued expenses | $5,136,144 |
| 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 | $98,786,255 |
| Total liabilities | $103,922,399 |
| Net assets without donor restrictions | -$61,899,392 |
| Net assets with donor restrictions | $34,114 |
| 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 | $42,057,121 |