Central Maine Medical Center
- Assets
- $261.6m
- Revenue
- $415.8m
- Investments
- $33.4m
- Employees
- 2,439
- Location
- Lewiston, ME
- Founding
- 03/1942
- Data as of
- 06/2021
- EIN
- 01-0211494
Organization Overview
Central Maine Medical Center is located in Lewiston, ME. The organization was established in 1942. 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 06/2021, Central Maine Medical Center employed 2,439 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Maine 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 06/2021, Central Maine Medical Center generated $415.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $434.9m during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CMMC STRIVES TO PROVIDE EXCEPTIONAL HEALTHCARE SERVICES. THE HOSPITAL DEPENDS ON THE EXPERTISE OF ITS CAREGIVERS IN ADDITIONAL TO THE COMMITMENT AND COMPASSION THEY PROVIDE.
Describe the Organization's Program Activity:
CENTRAL MAINE MEDICAL CENTER IS A 250-BED, NOT-FOR-PROFIT HOSPITAL LOCATED IN LEWISTON, MAINE OFFERING COMPREHENSIVE HEALTHCARE SERVICES TO THE RESIDENTS OF THE CENTRAL AND WESTERN MAINE REGION WITH AN ACTIVE MEDICAL STAFF OF MORE THAN 300 PHYSICIANS REPRESENTING SOME 30 SPECIALTIES OVER 2,000 HIGHLY SKILLED EMPLOYEES AND WITH THE SUPPORT OF THE LATEST TECHNOLOGIES, CMMC IS WELL POSITIONED TO MEET THE REGION'S HEALTHCARE NEEDS WITH THE UTMOST COMPASSION, KINDNESS, AND UNDERSTANDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tarek Radwan Physician | 55 | $1,307,097 | |
Paul Weldner Physician | 55 | $921,805 | |
Lisa Rutstein Physician | 55 | $884,306 | |
Carmine Frumiento Physician | 55 | $840,161 | |
Sean Mcgarr Physician | 55 | $813,872 | |
Erwey Teng Physician Division Chief | Officer | 1 | $673,473 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aya Healthcare Inc Medical Services | 6/29/21 | $4,962,049 |
Sodexo Food & Op. Plnt Svcs | 6/29/21 | $15,228,454 |
Quest Diagnostics Medical Services | 6/29/21 | $7,823,699 |
Comprehensive Pharmacy Medical Services | 6/29/21 | $6,394,730 |
United Ambulance Service Medical Services | 6/29/21 | $2,509,941 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,400,636 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,684 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,459,320 |
| Total Program Service Revenue | $403,791,420 |
| Investment income | $144,863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $345,204 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $415,757,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,206 |
| 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. | $3,273,348 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,494,592 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,809,331 |
| Payroll taxes | $4,624,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $533,803 |
| 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 | $66,562,570 |
| Advertising and promotion | $592,091 |
| Office expenses | $104,085,784 |
| Information technology | $6,435,933 |
| Royalties | $0 |
| Occupancy | $2,965,734 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $318,361 |
| Interest | $4,365,303 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,043,125 |
| Insurance | $1,275,973 |
| All other expenses | $1,162,630 |
| Total functional expenses | $434,860,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,380,518 |
| Savings and temporary cash investments | $21,798,035 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,346,613 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,872,847 |
| Inventories for sale or use | $9,416,178 |
| Prepaid expenses and deferred charges | $5,222,643 |
| Net Land, buildings, and equipment | $105,421,896 |
| Investments—publicly traded securities | $20,788,637 |
| Investments—other securities | $33,355,123 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $261,602,490 |
| Accounts payable and accrued expenses | $73,158,674 |
| 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 | $92,860,104 |
| Other liabilities | $16,618,929 |
| Total liabilities | $182,637,707 |
| Net assets without donor restrictions | $62,086,986 |
| Net assets with donor restrictions | $16,877,797 |
| 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 | $261,602,490 |
Grants Awarded
Over the last fiscal year, Central Maine Medical Center has awarded $65,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Leeds, ME PURPOSE: GENERAL | $30,000 |
Dallas, TX PURPOSE: HEARTWALK SPONSORSHIP | $25,000 |
Lewiston, ME PURPOSE: GENERAL | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Maine Medical Center has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $7,500 |
Endowment Analysis
| Beg. Balance | $15,678,635 |
| Earnings | $1,198,552 |
| Ending Balance | $16,877,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concord Hospital Inc Concord, NH | $790,822,441 | $622,809,517 |
Elliot Hospital Of The City Of Manchester Manchester, NH | $676,110,969 | $594,778,887 |
Catholic Medical Center Manchester, NH | $518,751,919 | $548,724,237 |
Central Maine Medical Center Lewiston, ME | $261,602,490 | $415,757,957 |
Exeter Hospital Inc Exeter, NH | $369,586,384 | $318,717,288 |
Southern New Hampshire Medical Center Nashua, NH | $437,025,715 | $313,798,950 |
St Marys Regional Medical Center Lewiston, ME | $137,492,595 | $248,635,435 |
St Joseph Hospital Of Nashua Nh Nashua, NH | $290,885,778 | $272,191,009 |
Mercy Hospital Portland, ME | $246,085,431 | $253,284,486 |
Cheshire Medical Center Keene, NH | $168,346,405 | $247,398,804 |
York Hospital York, ME | $137,570,951 | $221,452,190 |
St Joseph Hospital Bangor, ME | $73,052,907 | $183,023,757 |