Legacy Waterbury Hospital Inc
- Assets
- $7.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Waterbury, CT
- Founding
- 11/1951
- Data as of
- 09/2023
- EIN
- 06-0665979
Organization Overview
Legacy Waterbury Hospital Inc is located in Waterbury, CT. The organization was established in 1951. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Waterbury Hospital 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 09/2023, Legacy Waterbury Hospital Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (51.1%) each year. All expenses for the organization totaled $782.9k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (56.2%) per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO WIND UP THE AFFAIRS OF "WATERBURY HOSPITAL- AND DISTRIBUTE THE REMAINING ASSETS TO AN UNAFFILIATED 501(C)3 CHARITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES ARE THE EXPENSES AND COSTS ASSOCIATED WITH THE LIQUIDATION OF THE OLD "WATERBURY HOSPITAL'S" LIABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carl Contadini Chairman | OfficerTrustee | $0 | |
David J Pizzuto MD Director | OfficerTrustee | $0 | |
John A Michaels Director | OfficerTrustee | $0 | |
Carl B Sherter Director | OfficerTrustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Crothall Healthcare Building Svcs, Transport Svcs | 9/29/16 | $6,171,325 |
Morrison Healthcare Dietary Services | 9/29/16 | $3,887,545 |
Cerner Corporation Information Technology | 9/29/16 | $1,924,833 |
Access Rehab Centers Llc Physical Therapy Services | 9/29/16 | $1,326,457 |
Ct Colony Emergency Physicians Clinical Services | 9/29/16 | $1,225,328 |
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 | $1,174,814 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174,814 |
| Total Program Service Revenue | $411,303 |
| Investment income | $69,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$99,421 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,555,911 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,919 |
| Fees for services: Accounting | $32,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,352 |
| Fees for services: Other | $81,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $63,040 |
| All other expenses | $2,809 |
| Total functional expenses | $782,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,170 |
| Savings and temporary cash investments | $3,245,909 |
| 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 | $1,072,434 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,617,000 |
| Total assets | $6,982,513 |
| Accounts payable and accrued expenses | $240,148 |
| 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 | $767,601 |
| Total liabilities | $1,007,749 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $5,974,764 |
| 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 | $6,982,513 |