Porter Medical Center Inc
- Assets
- $6.0m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 30
- Location
- Middlebury, VT
- Founding
- 03/1989
- Data as of
- 09/2021
- EIN
- 03-0310862
Organization Overview
Porter Medical Center Inc is located in Middlebury, VT. The organization was established in 1989. 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 09/2021, Porter Medical Center Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Porter Medical Center 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 09/2021, Porter Medical Center Inc generated $5.3m 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 (3.6%) each year. All expenses for the organization totaled $4.8m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PARENT HOLDING COMPANY FOR SUBSIDIARIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PORTER MEDICAL CENTER MANAGED DIRECT PUBLIC SUPPORT AND PROVIDED ADMINISTRATIVE SERVICES FOR RELATED ENTITIES. THESE SERVICES RELATE TO THE OPERATION OF A 25-BED CRITICAL ACCESS HOSPITAL AND A 98-BED NURSING HOME AND REHABILITATION CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Bertrand Past CFO | Officer | 40 | $228,529 |
David Fuller VP Human Resources | 40 | $228,477 | |
Seleem Choudhury Former COO | 0 | $213,986 | |
Karen Beinaur Cno | 40 | $210,256 | |
Ronald Hallman Past VP Of Development & Pr | 40 | $182,578 | |
Tom Thompson President & COO | Officer | 1 | $174,992 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ceridan Information Technology Services | 9/29/18 | $221,120 |
Berry Dunn Mcneil & Parker Accounting Services | 9/29/18 | $166,349 |
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 | $173,119 |
| Noncash contributions included in lines 1a–1f | $15,176 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $173,119 |
| Total Program Service Revenue | $5,103,283 |
| Investment income | $3,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $56,549 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,336,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $410,118 |
| Compensation of current officers, directors, key employees. | $410,118 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,729,525 |
| Pension plan accruals and contributions | $93,908 |
| Other employee benefits | $398,029 |
| Payroll taxes | $204,327 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,854 |
| Fees for services: Accounting | $30,047 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $505,368 |
| Advertising and promotion | $14,033 |
| Office expenses | $129,751 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,855 |
| Travel | $7,963 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,825 |
| All other expenses | $0 |
| Total functional expenses | $4,753,300 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $539,991 |
| Savings and temporary cash investments | $3,836,055 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,697 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $741,973 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,667 |
| Net Land, buildings, and equipment | $526,133 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300,000 |
| Total assets | $5,973,516 |
| Accounts payable and accrued expenses | $633,111 |
| 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 | $0 |
| Other liabilities | $79,616 |
| Total liabilities | $712,727 |
| Net assets without donor restrictions | $5,260,789 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,973,516 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Porter Medical Center Inc has recieved totaling $28,115.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $15,615 |
S & C Harvest Foundation Inc Cornwall, VT PURPOSE: OPERATIONS | $11,500 |
Roy & Pearl Rogers Foundation Hornell, NY PURPOSE: DONATION | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Long Island Select Healthcare Inc Central Islip, NY | $8,265,975 | $21,062,448 |
Margaretville Memorial Hospital Margaretville, NY | $7,505,744 | $15,666,335 |
Community Medical And Dental Care Monsey, NY | $10,163,630 | $17,584,178 |
Rochester Regional Health Foundation Rochester, NY | $93,100,640 | $25,028,358 |
Cuba Memorial Hospital Inc Cuba, NY | $13,393,239 | $12,333,234 |
United Helpers Nursing Home Inc Ogdensburg, NY | $13,808,579 | $9,249,167 |
Healthcare Choices Ny Inc Brooklyn, NY | $5,459,308 | $10,428,165 |
Vassar Brothers Hospital Foundation Poughkeepsie, NY | $58,560,925 | $4,051,790 |
Brooklyn Hospital Radiology P C Brooklyn, NY | $784,187 | $3,298,833 |
Tbhc Medical Services Pc Brooklyn, NY | $942,645 | $6,768,198 |
St Josephs Hospital Elmira, NY | $0 | $5,903,575 |
Friends Of Yad Sarah Inc New York, NY | $6,538,987 | $4,473,675 |