Thundermist Health Center
- Assets
- $55.4m
- Revenue
- $91.0m
- Investments
- $0.0
- Employees
- 806
- Location
- Woonsocket, RI
- Founding
- 04/1975
- Data as of
- 08/2021
- EIN
- 05-0355097
Organization Overview
Thundermist Health Center is located in Woonsocket, RI. The organization was established in 1975. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 08/2021, Thundermist Health Center employed 806 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thundermist Health 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 08/2021, Thundermist Health Center generated $91.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $88.1m during the year ending 08/2021. While expenses have increased by 14.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH OF OUR PATIENTS AND COMMUNITIES BY DELIVERING EXCEPTIONAL HEALTH CARE, REMOVING BARRIERS TO THAT CARE AND PROMOTING HEALTHY LIFESTYLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE THE HEALTH OF OUR PATIENTS AND COMMUNITIES BY DELIVERING EXCEPTIONAL HEALTH CARE, REMOVING BARRIERS TO THAT CARE AND PROMOTING HEALTHY LIFESTYLES. DURING THE FISCAL YEAR, WE SERVED APPROXIMATELY 50,000 PATIENTS WITH OVER 272,000 MEDICAL AND DENTAL VISITS. WE ALSO PROVIDED 234,000 PRESCRIPTIONS ON BEHALF OF OUR PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric J Prosseda Dental Director | 40 | $334,832 | |
David M Bourassa Cmo | Officer | 40 | $290,989 |
Linda Berman Md | 40 | $272,570 | |
Jeanne Lachance CEO | Officer | 40 | $244,423 |
Sapna Chowdhry Medical Director | 40 | $244,248 | |
Michael Poshkus Medical Director | 40 | $231,446 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Scanstat Technologies Health Information Management | 8/30/21 | $204,194 |
Thrive Operations Llc It Services | 8/30/21 | $308,329 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,607,597 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,138,188 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,745,785 |
| Total Program Service Revenue | $75,444,717 |
| Investment income | $40,160 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$14,270 |
| 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 | $90,981,582 |
| 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. | $880,048 |
| Compensation of current officers, directors, key employees. | $330,105 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,443,223 |
| Pension plan accruals and contributions | $1,357,553 |
| Other employee benefits | $9,505,817 |
| Payroll taxes | $881,282 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,938 |
| Fees for services: Accounting | $19,677 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $29,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,096,491 |
| Advertising and promotion | $86,533 |
| Office expenses | $809,981 |
| Information technology | $2,077,843 |
| Royalties | $0 |
| Occupancy | $2,993,137 |
| Travel | $35,334 |
| 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 | $1,825,190 |
| Insurance | $233,947 |
| All other expenses | $91,856 |
| Total functional expenses | $88,114,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,657,832 |
| Savings and temporary cash investments | $10,173,745 |
| Pledges and grants receivable | $969,969 |
| Accounts receivable, net | $7,127,406 |
| 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 | $653,931 |
| Net Land, buildings, and equipment | $31,437,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $420,389 |
| Total assets | $55,440,960 |
| Accounts payable and accrued expenses | $10,019,694 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,860,750 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $9,238,156 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $21,118,600 |
| Net assets without donor restrictions | $33,298,491 |
| Net assets with donor restrictions | $1,023,869 |
| 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 | $55,440,960 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Thundermist Health Center has recieved totaling $664,477.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: THE TOWN WELL: A RHODE ISLAND HEALTH EQUITY ZONE; OPERATION STAND DOWN; MEDICAL AND DENTAL CARE FOR THE UNINSURED RESIDENTS OF KINGSTON VILLAGE; ADDITIONAL DENTAL EQUIPMENT; TRANS WELLNESS; WEST WARWICK HEZ HEALTHY NEIGHBORHOODS; WOONSOCKET HEALTH EQUITY ZONE; GENERAL OPERATING; WOONSOCKET HEZ "CHILD FRIENDLY WOONSOCKET" | $593,177 |
Centreville Savings Bank Charitable Foundation West Warwick, RI PURPOSE: EXEMPT PURPOSE | $50,300 |
Tufts Health Plan Foundation Inc Canton, MA PURPOSE: COVID Vaccine Fund | $20,000 |
Beacon Foundation Warwick, RI PURPOSE: GENERAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harvard Medical Faculty Phys At Beth Israel Deaconess Med Ctr Inc Boston, MA | $333,623,970 | $615,180,366 |
Lahey Clinic Inc Burlington, MA | $218,926,928 | $291,194,396 |
Trinity Health Of New England Provider Network Organization Inc Hartford, CT | $70,146,578 | $134,472,081 |
Stamford Health Medical Group Inc Stamford, CT | $92,505,083 | $118,533,430 |
Fenway Community Health Center Inc Boston, MA | $98,106,829 | $102,495,347 |
Thundermist Health Center Woonsocket, RI | $55,440,960 | $90,981,582 |
South Shore Medical Center Norwell, MA | $68,415,013 | $83,043,739 |
Covenant Health Inc Tewksbury, MA | $176,504,110 | $66,693,555 |
Optimus Health Care Inc Bridgeport, CT | $28,924,090 | $61,091,096 |
Bristol Hospital Multi-Specialty Group Bristol, CT | $6,063,010 | $37,683,739 |
Northeast Medical Practice Inc Beverly, MA | $9,391,030 | $29,044,634 |
Joslin Clinic Inc Boston, MA | $1,449,450 | $30,901,455 |