Magnolia Regional Health System Inc
- Assets
- $39.5m
- Revenue
- $25.9m
- Investments
- $0.0
- Employees
- 294
- Location
- Magnolia, AR
- Founding
- Data as of
- 09/2023
- EIN
- 85-0512754
Organization Overview
Magnolia Regional Health System Inc, operating under the name Magnolia Regional Medical Center, is located in Magnolia, AR. 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, Magnolia Regional Medical Center employed 294 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnolia Regional Medical Center 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, Magnolia Regional Medical Center generated $25.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $31.4m 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
TO PROVIDE EXCELLENT HEALTHCARE SERVICES AND EDUCATION TO ALL INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAGNOLIA REGIONAL MEDICAL CENTER (MRMC) PROVIDES COMPREHENSIVE HEALTHCARE SERVICES TO INDIVIDUALS REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, OR ABILITY TO PAY. SERVING SOUTHWESTERN ARKANSAS AND NORTHWESTERN LOUISIANA SINCE 1939, THE MEDICAL CENTER PROVIDES ACUTE CARE SERVICES INCLUDING INPATIENT SERVICES, SURGICAL SERVICES, OUTPATIENT DIAGNOSTICS, AND EMERGENCY SERVICES. THE MEDICAL CENTER ALSO HAS A CLINIC NETWORK THAT PROVIDES PRIMARY CAR AND SPECIALTY SERVICES IN GENERAL SURGERY AND ORTHOPEDIC SURGERY. EMBRACING OUR MISSION TO PROVIDE EXCELLENT HEALTHCARE SERVICES AN EDUCATION TO ALL INDIVIDUALS, THE MEDICAL CENTER REALIZES MANY INDIVIDUALS DO NOT POSSESS THE FINANCIAL RESOURCES TO ACCESS ESSENTIAL HEALTHCARE SERVICES. INDIVIDUALS WHO MEET OUR CHARITY CARE GUIDELINES CAN QUALITY FOR FREE OR DISCOUNTED CARE. DURING FY2023, PROVIDED DISCOUNTED SERVICES OF $919,687. IN ADDITION TO UNCOMPENSATED COSTS, MRMC COMMITS SIGNFICANT TIME AND RESOURCES TO ENDEAVORS AND CRITICAL SERVICES THAT MEET OTHERWISE UNFILLED COMMUNITY NEEDS. MANY OF THESE ACTIVITIES ARE SPONSORED WITH THE KNOWLEDGE THAT THEY WILL NOT BE SELF-SUPPORTING OR FINANCIALLY VIABLE. SUCH PROGRAMS INCLUDE HEALTH SCREENINGS AND ASSESSMENTS, COMMUNITY EDUCATIONAL SERVICES AND VARIOUS SUPPORT GROUPS. CARE GUIDELINES CAN QUALITY FOR FREE OR DISCOUNTED CARE. DURING FY2023 THE MEDICAL CENTER SERVED 440 PATIENTS WHO ACCESSED OUR SERVICES AFTER QUALIFYING THROUGH OUR CHARITY CARE GUIDELINES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chairman | OfficerTrustee | 0.3 | $0 |
Name Not Listed Chairman | OfficerTrustee | 12 | $83,303 |
Name Not Listed Secretary | OfficerTrustee | 0.3 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Qualvis Travel Nurse Staff | 9/29/23 | $1,192,805 |
Emergency Staffing Solutions Er Physician Staff | 9/29/23 | $900,004 |
Hospital Care Consultants Hospitalist | 9/29/23 | $242,468 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $214,133 |
| Government grants | $859,172 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,857 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,108,162 |
| Total Program Service Revenue | $24,288,679 |
| Investment income | $294,130 |
| 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 | $25,934,725 |
| 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. | $569,532 |
| Compensation of current officers, directors, key employees. | $569,532 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,099,796 |
| Pension plan accruals and contributions | $201,838 |
| Other employee benefits | $2,285,232 |
| Payroll taxes | $871,428 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,549 |
| Fees for services: Accounting | $184,451 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,232,888 |
| Advertising and promotion | $40,748 |
| Office expenses | $129,833 |
| Information technology | $529,142 |
| Royalties | $0 |
| Occupancy | $432,483 |
| Travel | $84,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,057 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,936,652 |
| Insurance | $535,001 |
| All other expenses | $627,332 |
| Total functional expenses | $31,437,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598,691 |
| Savings and temporary cash investments | $6,864,559 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,940,140 |
| Loans from Officers, Directors, or Controlling Persons | $26,065 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $308,948 |
| Prepaid expenses and deferred charges | $635,001 |
| Net Land, buildings, and equipment | $24,185,071 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,974,000 |
| Total assets | $39,532,475 |
| Accounts payable and accrued expenses | $3,085,122 |
| 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 | $196,885 |
| Secured mortgages and notes payable | $986,388 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,145,577 |
| Total liabilities | $6,413,972 |
| Net assets without donor restrictions | $10,192,956 |
| Net assets with donor restrictions | $22,925,547 |
| 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 | $39,532,475 |