Montage Health
- Assets
- $1.2b
- Revenue
- $24.9m
- Investments
- $662.3m
- Employees
- 0
- Location
- Monterey, CA
- Founding
- 03/1982
- Data as of
- 12/2020
- EIN
- 94-2789696
Organization Overview
Montage Health is located in Monterey, CA. The organization was established in 1982. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montage 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 12/2020, Montage Health generated $24.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.4%) each year. All expenses for the organization totaled $50.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Montage Health has awarded 22 individual grants totaling $94,657,002. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT SERVICES TO THE COMMUNITY HOSPITAL OF THE MONTEREY PENINSULA AND ITS AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAURINE CHURCH COBURN SCHOOL OF NURSING OFFERS AN ASSOCIATE'S DEGREE IN NURSING, LEADING TO RN CERTIFICATION.
PROPERTY MANAGEMENT OF OWNED AND LEASED PROPERTIES WITHIN THE MONTAGE HEALTH SYSTEM AND WITH EXTERNAL TENANTS.
PHYSICIAN RECRUITMENT WHICH OFFERS LOAN FORGIVENESS FOR NEWLY-RECRUITED PHYSICIANS WHO FULFILL THE TERMS OF THEIR RECRUITMENT AGREEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Guru Khalsa MD Trustee | Trustee | 4 | $85,203 |
Sharon Wesley MD Trustee | Trustee | 2 | $3,263 |
Stan Mckee Vice Chair | OfficerTrustee | 8 | $0 |
Bill Warner Secretary | OfficerTrustee | 7 | $0 |
Steven Packer MD President/chief Executive Officer | OfficerTrustee | 10 | $0 |
Kathleen Bang Chair | OfficerTrustee | 14 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $285,172 |
| Investment income | $11,883,229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,477,743 |
| Net Gain/Loss on Asset Sales | $2,288,591 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,934,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $452,494 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $96,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,109,860 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,894,321 |
| Payroll taxes | $535,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $160,705 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $780,285 |
| Advertising and promotion | $0 |
| Office expenses | $78,476 |
| Information technology | $367,530 |
| Royalties | $0 |
| Occupancy | $2,706,668 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $495,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,551,628 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $50,715,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,915,500 |
| Pledges and grants receivable | $1,374,413 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,199,297 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $577,527 |
| Investments—publicly traded securities | $193,596,123 |
| Investments—other securities | $662,292,788 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $158,240,527 |
| Total assets | $1,194,971,781 |
| Accounts payable and accrued expenses | $2,192,700 |
| 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 | $10,731,910 |
| Other liabilities | $172,668,075 |
| Total liabilities | $185,592,685 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,009,379,096 |
Grants Awarded
Over the last fiscal year, Montage Health has awarded $20,935,969 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Monterey, CA PURPOSE: GENERAL OPERATIONS | $16,030,000 |
Monterey, CA PURPOSE: GENERAL SUPPORT AND SUPPORT OF MEDICAL STAFF SERVICES | $3,640,186 |
Monterey, CA PURPOSE: GENERAL OPERATIONS | $658,000 |
Monterey, CA PURPOSE: GENERAL OPERATIONS | $500,000 |
Monterey, CA PURPOSE: GENERAL OPERATIONS | $107,783 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Montage Health has recieved totaling $1,101,290.
| Awarding Organization | Amount |
|---|---|
Montage Health Foundation Monterey, CA PURPOSE: PRESCRIBE SAFE, YOUTH OUTREACH, DIGITAL HEALTH, PHYSICIAN ENGAGEMENT, SCHOOL OF NURSING | $675,290 |
Community Hospital Of The Monterey Peninsula Monterey, CA PURPOSE: MOBILE HEALTH CLINIC | $100,000 |
Community Hospital Of The Monterey Peninsula Monterey, CA PURPOSE: COUNTY-WIDE DIABETES PROGRAM | $100,000 |
Pebble Beach Company Foundation Pebble Beach, CA PURPOSE: General Support | $80,000 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Health | $75,000 |
Pebble Beach Company Foundation Pebble Beach, CA PURPOSE: General Support | $50,000 |
Endowment Analysis
| Beg. Balance | $153,724,038 |
| Earnings | $40,474,088 |
| Net Contributions | $194,850 |
| Other Expense | $4,560,974 |
| Grants | $239,800 |
| Ending Balance | $189,592,202 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teamsters Managed Health Care Trust Pleasanton, CA | $34,990,586 | $90,291,232 |
High Desert & Inland Employee- Employer Trust Apple Valley, CA | $8,134,571 | $74,305,229 |
Intel Retiree Medical Plan Tr Santa Clara, CA | $691,186,910 | $97,588,377 |
Saint Agnes Medical Foundation Fresno, CA | $14,742,009 | $46,818,162 |
Amalgamated Transit Union-Div 1277 Scrtd Health & Welfare Fund Los Angeles, CA | $65,023,279 | $80,787,185 |
Kaiser Health Plan Asset Management Inc Oakland, CA | $308,869,561 | $61,696,347 |
Baychildrens Physicians Emeryville, CA | $9,899,523 | $53,401,080 |
St Joseph Health System Foundation Irvine, CA | $143,290,236 | $11,443,697 |
Montage Health Monterey, CA | $1,194,971,781 | $24,934,735 |
Hoag Hospital Foundation Newport Beach, CA | $584,715,727 | $185,764,932 |
California Pacific Medical Center Foundation Sacramento, CA | $485,240,778 | $61,000,436 |
Childrens Health Council Inc Palo Alto, CA | $96,571,005 | $43,949,984 |