Portercare Adventist Health System
- Assets
- $1.9b
- Revenue
- $1.5b
- Investments
- $507.5m
- Employees
- 6,723
- Location
- Centennial, CO
- Founding
- 09/1931
- Data as of
- 06/2022
- EIN
- 84-0438224
Organization Overview
Portercare Adventist Health System is located in Centennial, CO. The organization was established in 1931. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2022, Portercare Adventist Health System employed 6,723 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Portercare Adventist Health System 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, Portercare Adventist Health System generated $1.5b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $1.4b during the year ending 06/2022. While expenses have increased by 2.8% 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.
Since 2016, Portercare Adventist Health System has awarded 132 individual grants totaling $23,961,606. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR COMPANY, A FAITH BASED ORGANIZATION, INVESTS IN CHARITY CARE, COMMUNITY PROGRAMS AND SPONSORSHIPS DESIGNED TO NURTURE THE HEALTH OF THE PEOPLE OF COLORADO WITH A GOAL TO KEEP THEM HEALTHY.
Describe the Organization's Program Activity:
OPERATION OF 5 ACUTE CARE HOSPITALS WITH 32,748 PATIENT ADMISSIONS, 150,399 PATIENT DAYS AND 299,607 OUTPATIENT VISITS IN THE CURRENT YEAR. IN ADDITION TO HOSPITAL OPERATIONS, THE CORPORATION PROVIDES MEDICAL CARE THROUGH A NUMBER OF OTHER ACTIVITIES SUCH AS URGENT CARE CENTERS, PHYSICIAN CLINICS, HOME HEALTH SERVICES, HOSPICE SERVICES, SLEEP CENTERS, WOUND CENTERS, THERAPY AND REHAB.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rathbun Paul Board Member / Ah CFO | Trustee | 1 | $0 |
Bacon Kenneth Board Chairman/ah CEO Multi-State | Trustee | 5 | $970,353 |
Houmann Lars Board Member | Trustee | 1 | $0 |
Thurber Gary Board Member | Trustee | 1 | $0 |
Thurber John Mic Board Member (beg 12/21) | Trustee | 1 | $0 |
Barnett D Edward Board Member (end 8/21) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Neurosurgery One Neuro/spine Services | 6/29/22 | $10,473,308 |
South Denver Cardiology Associates Pc Cardiology Services | 6/29/22 | $27,718,846 |
Peak Gastroenterology Gastroenterology Services | 6/29/22 | $5,762,540 |
Hss Security Security Services | 6/29/22 | $5,184,486 |
Critical Care Pulmonary And Sleep Assoc Medical Services | 6/29/22 | $3,300,787 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $817,005 |
| Government grants | $11,564,847 |
| 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 | $12,381,852 |
| Total Program Service Revenue | $1,434,991,828 |
| Investment income | $24,946,305 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $101,387 |
| Net Gain/Loss on Asset Sales | $1,085,335 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,484,227,840 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,531,293 |
| Grants and other assistance to domestic individuals. | $455,531 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,943,949 |
| Compensation of current officers, directors, key employees. | $4,943,949 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $418,991,213 |
| Pension plan accruals and contributions | $20,926,279 |
| Other employee benefits | $48,988,138 |
| Payroll taxes | $28,649,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $155,067 |
| Fees for services: Accounting | $339,992 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,162,085 |
| Fees for services: Other | $332,302,039 |
| Advertising and promotion | $489,799 |
| Office expenses | $19,480,256 |
| Information technology | $7,817,007 |
| Royalties | $0 |
| Occupancy | $29,437,516 |
| Travel | $479,246 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,042,553 |
| Interest | $8,447,880 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,654,004 |
| Insurance | -$5,364,866 |
| All other expenses | $1,015,272 |
| Total functional expenses | $1,370,076,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $306,130 |
| Savings and temporary cash investments | $22,477,017 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $236,517,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,001,223 |
| Inventories for sale or use | $39,200,742 |
| Prepaid expenses and deferred charges | $19,089,282 |
| Net Land, buildings, and equipment | $697,119,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $507,537,309 |
| Investments—program-related | $0 |
| Intangible assets | $66,309,429 |
| Other assets | $344,851,620 |
| Total assets | $1,937,409,919 |
| Accounts payable and accrued expenses | $88,786,792 |
| Grants payable | $0 |
| Deferred revenue | $1,470,293 |
| 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 | $412,774,470 |
| Total liabilities | $503,031,555 |
| Net assets without donor restrictions | $1,434,274,508 |
| Net assets with donor restrictions | $103,856 |
| 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 | $1,937,409,919 |
Grants Awarded
Over the last fiscal year, Portercare Adventist Health System has awarded $1,531,293 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
CLINICA CAMPESINA FAMILY HEALTH SERVICES PURPOSE: General Support | $191,400 |
BROTHER JEFF'S CULTURAL CENTER PURPOSE: Improve access/affordability to services and housing | $17,500 |
CATHOLIC CHARITIES OF CENTRAL COLORADO INC PURPOSE: Improve access/affordability to services and housing | $11,550 |
DOCTORS CARE PURPOSE: General Support | $40,000 |
DOUGLAS COUNTY EDUCATIONAL FOUNDATION PURPOSE: General Support | $60,000 |
HEART MIND HAVEN PURPOSE: Improve access/affordability to services and housing | $26,250 |