Mid Coast Hospital
- Assets
- $233.2m
- Revenue
- $223.3m
- Investments
- $0.0
- Employees
- 1,873
- Location
- Brunswick, ME
- Founding
- 08/1940
- Data as of
- 09/2020
- EIN
- 01-0215911
Organization Overview
Mid Coast Hospital is located in Brunswick, ME. The organization was established in 1940. 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 09/2020, Mid Coast Hospital employed 1,873 individuals.
For the year ending 09/2020, Mid Coast Hospital generated $223.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $233.7m during the year ending 09/2020. While expenses have increased by 4.6% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
ACUTE AND SPECIALTY CARE HOSPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACUTE AND SPECIALTY HEALTH CARE SERVICES WERE PROVIDED TO RESIDENTS OF THE MID-COAST MAINE AREA. CHARITY CARE WAS PROVIDED TO THOSE PATIENTS WHO DID NOT HAVE THE ABILITY TO PAY FOR MEDICAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Arguedas MD Physician | 41.5 | $687,849 | |
Michael Mason MD Physician | 41.5 | $636,545 | |
Calin Stoicov MD Physician | 41.5 | $584,472 | |
Benjamin Lowenstein MD Physician | 41.5 | $569,885 | |
Peter Hutchinson MD Physician | 41.5 | $541,987 | |
Patrick Keaney Former Officer | 41.5 | $432,669 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spectrum Healthcare Partners Pathology Services | 9/29/20 | $273,344 |
Midcoast Linen Llc Laundry Services | 9/29/20 | $425,024 |
Crooker Construction Llc Landscaping Services | 9/29/20 | $209,911 |
Innovative Business Technology Collection Services | 9/29/20 | $1,415,585 |
Bluewater Emergency Partners Of Brunswic Staffing Support | 9/29/20 | $1,824,823 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,431 |
| Related organizations | $136,116 |
| Government grants | $12,354,876 |
| All other contributions, gifts, grants, and similar amounts not included above | $616,940 |
| Noncash contributions included in lines 1a–1f | $53,786 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,136,363 |
| Total Program Service Revenue | $203,706,935 |
| Investment income | $2,811,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $17,520 |
| Net Gain/Loss on Asset Sales | $3,676,805 |
| Net Income from Fundraising Events | -$4,636 |
| Net Income from Gaming Activities | $3,422 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $223,348,397 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,625 |
| 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. | $471,709 |
| Compensation of current officers, directors, key employees. | $18,868 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,473,571 |
| Pension plan accruals and contributions | $2,587,462 |
| Other employee benefits | $13,611,387 |
| Payroll taxes | $4,697,333 |
| Fees for services: Management | $3,208,696 |
| Fees for services: Legal | $126,515 |
| Fees for services: Accounting | $57,100 |
| Fees for services: Lobbying | $17,875 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,591,538 |
| Advertising and promotion | $211,726 |
| Office expenses | $11,026,394 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,982,234 |
| Travel | $16,798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $832,136 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,842,635 |
| Insurance | $2,348,120 |
| All other expenses | $931,501 |
| Total functional expenses | $233,673,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,144,618 |
| Savings and temporary cash investments | $13,233,232 |
| Pledges and grants receivable | $116,731 |
| Accounts receivable, net | $32,612,983 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,637,759 |
| Prepaid expenses and deferred charges | $4,074,545 |
| Net Land, buildings, and equipment | $58,674,754 |
| Investments—publicly traded securities | $77,780,067 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,928,067 |
| Total assets | $233,202,756 |
| Accounts payable and accrued expenses | $46,363,106 |
| 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 | $22,916,297 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,291,333 |
| Total liabilities | $89,570,736 |
| Net assets without donor restrictions | $117,425,481 |
| Net assets with donor restrictions | $26,206,539 |
| 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 | $233,202,756 |
Grants Awarded
Over the last fiscal year, Mid Coast Hospital has awarded $31,625 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Brunswick, ME PURPOSE: General Support | $8,300 |
Brunswick, ME PURPOSE: General Support | $8,175 |
Bath, ME PURPOSE: General Support | $5,150 |
Brunswick, ME PURPOSE: General Support | $5,000 |
SOUTHERN MIDCOAST MAINE CHAMBER PURPOSE: General Support | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Mid Coast Hospital has recieved totaling $29,508.
| Awarding Organization | Amount |
|---|---|
Messier-Costain Foundation 0011961170 Bridgeport, CT PURPOSE: CONTRIBUTION | $13,048 |
Amyotrophic Lateral Sclerosis Assn Arlington, VA PURPOSE: SALARIES OF SOCIAL WORKER AND DIETICIAN | $5,460 |
Maine Cancer Foundation Falmouth, ME PURPOSE: To provide Covid-19 relief funds. | $5,000 |
Moser Family Foundation Inc Baltimore, MD PURPOSE: GENERAL PURPOSES | $5,000 |
Charles L Read Foundation Bayshore, NY PURPOSE: FOR PURCHASE OF CAPITAL ITEMS | $1,000 |
Endowment Analysis
| Beg. Balance | $35,123,951 |
| Earnings | $2,447,575 |
| Net Contributions | $120,122 |
| Other Expense | $63,912 |
| Ending Balance | $37,627,736 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concord Hospital Inc Concord, NH | $697,377,820 | $555,720,109 |
Elliot Hospital Of The City Of Manchester Manchester, NH | $588,879,146 | $503,607,421 |
Catholic Medical Center Manchester, NH | $530,592,222 | $459,237,683 |
Central Maine Medical Center Lewiston, ME | $300,463,191 | $396,713,032 |
Exeter Hospital Inc Exeter, NH | $285,871,430 | $303,921,048 |
Cheshire Medical Center Keene, NH | $185,465,067 | $225,659,551 |
St Joseph Hospital Of Nashua Nh Nashua, NH | $273,734,500 | $242,203,849 |
St Marys Regional Medical Center Lewiston, ME | $147,144,163 | $235,124,353 |
Mid Coast Hospital Brunswick, ME | $233,202,756 | $223,348,397 |
Southern New Hampshire Medical Center Nashua, NH | $464,724,660 | $262,407,741 |
Mercy Hospital Portland, ME | $154,782,094 | $236,348,099 |
York Hospital York, ME | $128,368,248 | $199,699,345 |