Riverside Healthcare Association Inc
- Assets
- $1.4b
- Revenue
- $1.9b
- Investments
- $6.3m
- Employees
- 11,219
- Location
- Newport News, VA
- Founding
- 04/2010
- Data as of
- 12/2021
- EIN
- 90-1000718
Organization Overview
Riverside Healthcare Association Inc is located in Newport News, VA. The organization was established in 2010. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Riverside Healthcare Association Inc employed 11,219 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Riverside Healthcare Association Inc 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 12/2021, Riverside Healthcare Association Inc generated $1.9b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.9b during the year ending 12/2021. While expenses have increased by 3.4% 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 2014, Riverside Healthcare Association Inc has awarded 186 individual grants totaling $15,517,125. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE GENERAL MEDICAL SERVICES TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL HOSPITAL, LONG-TERM CARE AND PHYSICIAN SERVICES PROVIDED TO THE COMMUNITY: 2,624,350 PERSONS WERE BENEFITED IN 2021 WITH QUANTIFIABLE COMMUNITY BENEFITS OF $79,491,990.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Kostov Physician Specialty | 40 | $2,271,979 | |
Matthew Reed Physician Specialty | 40 | $2,097,767 | |
William H Mcallister MD Rmg-Board Mbr/rmg Physician | Trustee | 40 | $1,978,160 |
William Burns Downey Ceo, Rhs | OfficerTrustee | 40 | $1,495,939 |
Anthony Farah Physician Specialty | 40 | $1,432,292 | |
Romney Andersen Physician Specialty | 40 | $1,351,970 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dpr Construction Nonemployee Compens | 12/30/21 | $2,498,089 |
Eagle Telemed Holdings Llc Nonemployee Compens | 12/30/21 | $1,788,167 |
Quest Diagnostics Inc Nonemployee Compens | 12/30/21 | $1,720,225 |
Excite It Partners Llc Nonemployee Compens | 12/30/21 | $1,504,632 |
Change Healthcare Llc Nonemployee Compens | 12/30/21 | $3,158,294 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,840,639 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,763,722 |
| Noncash contributions included in lines 1a–1f | $234,841 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,604,361 |
| Total Program Service Revenue | $1,845,535,203 |
| Investment income | $6,138,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,284,274 |
| Net Gain/Loss on Asset Sales | $27,403,374 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,934,975,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,796,148 |
| Grants and other assistance to domestic individuals. | $40,937 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $31,226,474 |
| Compensation of current officers, directors, key employees. | $31,226,474 |
| Compensation to disqualified persons | $78,069 |
| Other salaries and wages | $653,379,014 |
| Pension plan accruals and contributions | $33,485,334 |
| Other employee benefits | $75,284,051 |
| Payroll taxes | $29,992,187 |
| Fees for services: Management | $40,582,989 |
| Fees for services: Legal | $948,708 |
| Fees for services: Accounting | $6,553,059 |
| Fees for services: Lobbying | $45,512 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $120,990 |
| Fees for services: Other | $96,418,664 |
| Advertising and promotion | $10,006,769 |
| Office expenses | $13,485,202 |
| Information technology | $74,678,881 |
| Royalties | $0 |
| Occupancy | $135,821,909 |
| Travel | $1,519,954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,490 |
| Interest | $13,464,280 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,990,083 |
| Insurance | $100,792,696 |
| All other expenses | $9,199,573 |
| Total functional expenses | $1,870,630,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,339,477 |
| Savings and temporary cash investments | $627,149,314 |
| Pledges and grants receivable | $78,134 |
| Accounts receivable, net | $215,062,076 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,152,546 |
| Prepaid expenses and deferred charges | $19,247,828 |
| Net Land, buildings, and equipment | $387,187,267 |
| Investments—publicly traded securities | $14,134,005 |
| Investments—other securities | $6,313,848 |
| Investments—program-related | $68,565,240 |
| Intangible assets | $40,483,311 |
| Other assets | $2,111,432 |
| Total assets | $1,413,824,478 |
| Accounts payable and accrued expenses | $269,040,873 |
| Grants payable | $0 |
| Deferred revenue | $61,547,184 |
| 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 | $499,897,476 |
| Total liabilities | $830,485,533 |
| Net assets without donor restrictions | $557,333,310 |
| Net assets with donor restrictions | $26,005,635 |
| 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 | $1,413,824,478 |
Grants Awarded
Over the last fiscal year, Riverside Healthcare Association Inc has awarded $609,812 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
Newport News, VA PURPOSE: 21-22 Ferguson Ctr Partnership | $137,500 |
Newport News, VA PURPOSE: Free Clinic | $100,000 |
Hampton, VA PURPOSE: 2021 RMG Sponsorship 3rd Pmt | $75,000 |
LIONSBRIDGE FOOTBALL CLUB LLC PURPOSE: 2021 Spon-Partnership RIV Sports Medicine Team | $38,587 |
Newport News, VA PURPOSE: 2021-23 Sponsorship | $26,600 |
Newport News, VA PURPOSE: 2021 Donation | $25,000 |
Endowment Analysis
| Beg. Balance | $1,433,785 |
| Earnings | $129,700 |
| Grants | $25,500 |
| Ending Balance | $1,537,985 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hh Medstar Health Inc Columbia, MD | $303,491,180 | $865,504,764 |
Appalachian Regional Healthcare Inc Lexington, KY | $1,267,201,787 | $817,287,479 |
Memorial Health Care System Inc Chattanooga, TN | $833,500,042 | $655,181,018 |
Wellmont Health System Johnson City, TN | $425,394,041 | $662,198,822 |
Virginia Hospital Center Arlington Health System Arlington, VA | $1,877,524,577 | $673,514,509 |
West Virginia University Medical Corporation Morgantown, WV | $212,648,584 | $571,153,959 |
Owensboro Health Regional Hospital Owensboro, KY | $1,685,340,581 | $709,904,993 |
The Johns Hopkins Health System Corporation Baltimore, MD | $2,298,014,981 | $561,406,992 |
Norton Healthcare Inc Louisville, KY | $2,709,209,349 | $492,316,959 |
Carilion Services Inc Roanoke, VA | $938,637,589 | $302,052,496 |
Baptist Patient Safety System Inc Memphis, TN | $1,693,307,701 | $249,640,612 |
West Virginia United Health System Inc Morgantown, WV | $316,093,597 | $251,827,259 |