Somerville Hospital
- Assets
- $0.0
- Revenue
- $117.6m
- Investments
- $0.0
- Employees
- 2,748
- Location
- Malden, MA
- Founding
- 12/1942
- Data as of
- 12/2019
- EIN
- 04-2103852
Organization Overview
Somerville Hospital is located in Malden, MA. The organization was established in 1942. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2019, Somerville Hospital employed 2,748 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerville Hospital 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 12/2019, Somerville Hospital generated $117.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $117.6m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDED MANAGEMENT AND SUPPORT PERSONNEL TO AND HELD THE REAL ESTATE FOR ITS PARENT CHA, IN FURTHERANCE OF CHA'S MISSION. PLEASE SEE SCHEDULE O FOR REMAINDER OF DISCLOSURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renee Kessler Evp/coo | Officer | 10 | $510,393 |
Jill Batty SVP Finance/cfo/treasurer | OfficerTrustee | 10 | $510,338 |
Andrew Fuqua Clerk | OfficerTrustee | 10 | $392,458 |
Joy Curtis SVP Hr | Officer | 10 | $379,089 |
Patrick R Wardell Former President/ceo | 0 | $375,398 | |
Lynette Alberti Cno | Officer | 10 | $339,595 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $117,584,400 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $117,584,400 |
| 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. | $1,371,995 |
| Compensation of current officers, directors, key employees. | $1,371,995 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $76,546,616 |
| Pension plan accruals and contributions | $2,033,488 |
| Other employee benefits | $9,728,789 |
| Payroll taxes | $5,564,132 |
| Fees for services: Management | $2,729,406 |
| Fees for services: Legal | $8,780 |
| 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 | $10,408,091 |
| Advertising and promotion | $22,896 |
| Office expenses | $3,088,940 |
| Information technology | $1,332,630 |
| Royalties | $0 |
| Occupancy | $2,571,587 |
| Travel | $91,404 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $180,993 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,335,623 |
| Insurance | $565,530 |
| All other expenses | $3,500 |
| Total functional expenses | $117,584,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Endowment Analysis
Peer Organizations
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|---|---|---|
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Physician Affiliate Group Of New York Pc New York, NY | $38,559,626 | $838,367,537 |
South Shore University Hospital Westbury, NY | $537,264,084 | $780,287,744 |
St Barnabas Hospital Bronx, NY | $509,709,936 | $489,229,934 |
Svmc Holdings Inc Bridgeport, CT | $272,750,174 | $429,886,007 |
Richmond Medical Center Staten Island, NY | $435,447,032 | $376,664,767 |
Winchester Hospital Winchester, MA | $544,714,719 | $324,184,704 |
St Catherine Of Siena Medical Center Smithtown, NY | $208,978,948 | $269,380,631 |
Plainview Hospital Westbury, NY | $107,293,074 | $271,692,027 |
Kings Physician Services Pc Brooklyn, NY | $47,541,580 | $152,167,067 |
Lrghealthcare Manchester, NH | $149,103,564 | $184,765,489 |
Glen Cove Hospital Westbury, NY | $156,522,519 | $195,211,867 |