Montrose Memorial Hospital
- Assets
- $185.5m
- Revenue
- $174.8m
- Investments
- $0.0
- Employees
- 781
- Location
- Montrose, CO
- Founding
- 03/2013
- Data as of
- 12/2023
- EIN
- 84-6002707
Organization Overview
Montrose Memorial Hospital, operating under the name Montrose Regional Health, is located in Montrose, CO. The organization was established in 2013. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2023, Montrose Regional Health employed 781 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montrose Regional Health 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 12/2023, Montrose Regional Health generated $174.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $161.9m during the year ending 12/2023. While expenses have increased by 6.5% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF MONTROSE MEMORIAL HOSPITAL TO PROVIDE HEALTHCARE SERVICES TO OUR COMMUNITIES WITH EXCELLENT SERVICE, COMPASSION AND FISCAL RESPONSIBILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTROSE MEMORIAL HOSPITAL PROVIDES A WIDE VARIETY OF OUTPATIENT SERVICES INCLUDING EMERGENCY ROOM, MEDICAL IMAGING, CARDIOLOGY, PULMONOLOGY, ONCOLOGY, PHYSICAL THERAPY, OCCUPATIONAL THERAPY, SPEECH THERAPY, CARDIO-PULMONARY REHAB AND LABORATORY. MONTROSE MEMORIAL HAS A LEVEL III TRAUMA DESIGNATION AND WE HAVE HELICOPTER TRANSPORT SERVICES ON CAMPUS. OUR EMERGENCY ROOM IS STAFFED 24/7 WITH ER BOARD CERTIFIED PHYSICIANS. FOR THE YEAR ENDING DECEMBER 31, 2023 THE HOSPITAL HAD 137,731 OUTPATIENT VISITS.
MONTROSE MEMORIAL HOSPITAL IS LICENSED FOR 75 BEDS AND PROVIDES INPATIENT SERVICES INCLUDING ICU, MEDICAL SURGICAL, JOINT REPLACEMENT CENTER AND FAMILY CENTER. THE PRIMARY SERVICE AREA IS MONTROSE, OURAY AND SAN MIGUEL COUNTIES. MONTROSE MEMORIAL HAD 6,728 INPATIENT DAYS FOR THE YEAR ENDING DECEMBER 31, 2023. MONTROSE MEMORIAL PROVIDES A SIGNIFICANT AMOUNT OF CHARITY CARE AN WROTE OFF $4,406,319 IN CHARGES FOR THE YEAR ENDING DECEMBER 31, 2023.
MONTROSE MEMORIAL OPERATES AN ACUTE REHABILITATION UNIT THAT PROVIDES SERVICES AS A CONTINUUM OF CARE FOR PATIENTS THAT NEED ADDITIONAL TIME AND REHABILITATION AFTER A HOSPITAL STAY BEFORE THEY CAN GO TO A LOWER LEVEL OF CARE OR HOME. OUR GOAL, AT MONTROSE MEMORIAL HOSPITAL, IS TO HELP PATIENTS GET BACK TO LIFE, FAMILY AND FRIENDS AS QUICKLY AS POSSIBLE. WORKING WITH EACH PATIENT AND THEIR FAMILY, THE REHABILITATION TEAM DESIGNS A HIGHLY INDIVIDUALIZED TREATMENT PLAN THAT FOCUSES ON POTENTIAL, NOT ON LIMITATIONS. THIS PROGRESSIVE APPROACH STRIVES TO MEET THE NEEDS OF THE PATIENT AND THEIR FAMILY INVOLVED IN THE REHABILITATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director End 09/23 / Sec/treas Beg 10/23 | OfficerTrustee | 3 | $0 |
Name Not Listed Director End 09/23 / Vice Chair Beg 10/23 | OfficerTrustee | 3 | $0 |
Name Not Listed Chairperson | OfficerTrustee | 3 | $0 |
Name Not Listed Secretary End 09/23 / Director Beg 10/23 | OfficerTrustee | 3 | $30,780 |
Name Not Listed Vice Chair End 08/23 | OfficerTrustee | 3 | $0 |
Name Not Listed Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medefis Workforce System | 12/30/23 | $5,728,094 |
Intermountain Health Radiation Services | 12/30/23 | $754,000 |
Milestone Systems Information Systems | 12/30/23 | $442,225 |
Community Hospital Corporation Consulting | 12/30/23 | $1,170,200 |
Hospital Shared Services Security | 12/30/23 | $197,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,960 |
| All other contributions, gifts, grants, and similar amounts not included above | $406,454 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $522,414 |
| Total Program Service Revenue | $171,268,823 |
| Investment income | $1,490,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $91,431 |
| Net Gain/Loss on Asset Sales | $359,481 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $174,821,714 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,332 |
| 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. | $417,799 |
| Compensation of current officers, directors, key employees. | $417,799 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,596,075 |
| Pension plan accruals and contributions | $1,289,703 |
| Other employee benefits | $5,592,342 |
| Payroll taxes | $3,976,483 |
| Fees for services: Management | $1,150,486 |
| Fees for services: Legal | $406,721 |
| Fees for services: Accounting | $156,079 |
| Fees for services: Lobbying | $2,219 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,919,268 |
| Advertising and promotion | $229,288 |
| Office expenses | $6,686,838 |
| Information technology | $26,096 |
| Royalties | $0 |
| Occupancy | $1,456,081 |
| Travel | $213,383 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,140 |
| Interest | $557,744 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,973,806 |
| Insurance | $1,149,368 |
| All other expenses | $506,001 |
| Total functional expenses | $161,934,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,952,619 |
| Savings and temporary cash investments | $15,196,120 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,947,717 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,183,434 |
| Inventories for sale or use | $4,489,194 |
| Prepaid expenses and deferred charges | $1,974,078 |
| Net Land, buildings, and equipment | $52,485,812 |
| Investments—publicly traded securities | $39,953,364 |
| Investments—other securities | $0 |
| Investments—program-related | $5,961,399 |
| Intangible assets | $0 |
| Other assets | $5,383,986 |
| Total assets | $185,527,723 |
| Accounts payable and accrued expenses | $21,972,856 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $29,117,641 |
| 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 | $4,373,980 |
| Total liabilities | $55,464,477 |
| Net assets without donor restrictions | $129,642,783 |
| Net assets with donor restrictions | $420,463 |
| 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 | $185,527,723 |
Grants Awarded
Over the last fiscal year, Montrose Memorial Hospital has awarded $13,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAN JUAN HEALTHCARE FOUNDATION INC PURPOSE: To Support Program | $8,000 |
MONTROSE ECONOMIC DEVELOPMENT CORPORATION PURPOSE: To Support Program | $5,750 |