Central Maine Healthcare Corporation
- Assets
- $194.4m
- Revenue
- $86.0m
- Investments
- $11.3m
- Employees
- 569
- Location
- Lewiston, ME
- Founding
- 03/1983
- Data as of
- 06/2020
- EIN
- 01-0386913
Organization Overview
Central Maine Healthcare Corporation is located in Lewiston, ME. The organization was established in 1983. 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 06/2020, Central Maine Healthcare Corporation employed 569 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Central Maine Healthcare Corporation generated $86.0m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $70.7m during the year ending 06/2020. While expenses have increased by 4.7% 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
CENTRAL MAINE HEALTHCARE CORPORATION SUPPORTS ITS AFFILIATED HEALTHCARE INSTITUTIONS IN ORDER FOR THESE ENTITIES TO PROVIDE EXCEPTIONAL HEALTHCARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT AFFILIATED HEALTHCARE INSTITUTIONS BY PROVIDING MANAGERIAL, ADMINISTRATIVE AND FUND RAISING SERVICES IN A CONTINUOUS, ORGANIZED, AND EFFICIENT MANNER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Brickman President | OfficerTrustee | 55 | $788,931 |
David Tupponce President Of Cmmc End 01/20 | Officer | 1 | $580,207 |
Richard Goldstein Former Phys Pract Exec | 0 | $499,322 | |
John Alexander Chief Medical Officer | Officer | 1 | $458,631 |
Cindy Russo Vice President | 1 | $422,461 | |
Ryan Mckeown Former Vice President | 0 | $343,063 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kaufman Hall And Associates Llc Consulting Services | 6/29/20 | $3,506,985 |
Ropes And Gray Llp Legal Services | 6/29/20 | $806,709 |
Medmatica Consulting Associates Collections Services | 6/29/20 | $788,134 |
Umr Inc Benefits Admin | 6/29/20 | $935,360 |
Cerner Corporation It Support | 6/29/20 | $6,690,180 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,636,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,636,273 |
| Total Program Service Revenue | $67,179,044 |
| Investment income | $8,576,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,635,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,957,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,536,850 |
| 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. | $4,355,084 |
| Compensation of current officers, directors, key employees. | $871,017 |
| Compensation to disqualified persons | $2,187,424 |
| Other salaries and wages | $21,958,734 |
| Pension plan accruals and contributions | $540,037 |
| Other employee benefits | $4,682,647 |
| Payroll taxes | $1,889,347 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,113,637 |
| Fees for services: Accounting | $255,193 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,275 |
| Fees for services: Other | $13,898,772 |
| Advertising and promotion | $815,219 |
| Office expenses | $2,680,283 |
| Information technology | $8,676,536 |
| Royalties | $0 |
| Occupancy | $873,270 |
| Travel | $182,265 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $119,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,211,272 |
| Insurance | $415,549 |
| All other expenses | $0 |
| Total functional expenses | $70,691,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,761 |
| Savings and temporary cash investments | $79,076,286 |
| Pledges and grants receivable | $37,320 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $1,417,746 |
| Loans from Disqualified Persons | $8,581,294 |
| Notes and loans receivable | $7,766,234 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $838,867 |
| Net Land, buildings, and equipment | $14,274,141 |
| Investments—publicly traded securities | $66,413,464 |
| Investments—other securities | $11,250,176 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,697,190 |
| Total assets | $194,409,479 |
| Accounts payable and accrued expenses | $84,934,897 |
| Grants payable | $0 |
| Deferred revenue | $20,000 |
| 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 | $148,654 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $85,103,551 |
| Net assets without donor restrictions | $86,872,640 |
| Net assets with donor restrictions | $22,433,288 |
| 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 | $194,409,479 |
Grants Awarded
Over the last fiscal year, Central Maine Healthcare Corporation has awarded $2,471,626 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Lewiston, ME PURPOSE: SUPPORT | $1,946,285 |
Bridgton, ME PURPOSE: SUPPORT | $426,511 |
Lewiston, ME PURPOSE: SUPPORT | $98,830 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Maine Healthcare Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Davis Family Foundation Yarmouth, ME PURPOSE: Diabetes Prevention Program (CMH DDP) | $20,000 |
Endowment Analysis
| Beg. Balance | $24,029,838 |
| Earnings | $291,953 |
| Net Contributions | $116,510 |
| Other Expense | $1,986,425 |
| Grants | $18,589 |
| Ending Balance | $22,433,287 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Maine Healthcare Corporation Lewiston, ME | $194,409,479 | $85,957,937 |
Mass General Brigham Incorporated Dover, NH | $7,857,187 | $29,893,981 |
Medical Care Development Incorporated Augusta, ME | $12,282,815 | $34,662,731 |
Exeter Health Resources Exeter, NH | $279,880,994 | $18,682,820 |
Mainehealth Cardiology Portland, ME | $0 | $7,043,061 |
St Marys Health System Lewiston, ME | $14,187,441 | $4,242,956 |
Valley Regional Healthcare Inc Claremont, NH | $15,148,627 | $2,524,430 |
Capital Region Health Ventures Corporation Concord, NH | $3,736,219 | $6,880,329 |
New Hampshire Health Care Assoc Pembroke, NH | $493,751 | $1,057,971 |
Exeter Health Resources Inc Self-Insurance Trust Exeter, NH | $5,282,331 | $136,793 |
Mass General Brigham Incorporated Dover, NH | $10,164,563 | $752,914 |
Dartmouth-Hitchcock Medical Center Lebanon, NH | $3,188,168 | $515,912 |