Prime Healthcare Foundation Inc
- Assets
- $1.9b
- Revenue
- $990.0m
- Investments
- $81.0m
- Employees
- 6,927
- Location
- Ontario, CA
- Founding
- 03/2015
- Data as of
- 12/2020
- EIN
- 20-8065139
Organization Overview
Prime Healthcare Foundation Inc is located in Ontario, CA. The organization was established in 2015. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Prime Healthcare Foundation Inc employed 6,927 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prime Healthcare Foundation 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 12/2020, Prime Healthcare Foundation Inc generated $990.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $898.1m during the year ending 12/2020. While expenses have increased by 13.3% 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.
Since 2014, Prime Healthcare Foundation Inc has awarded 31 individual grants totaling $30,656,282. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTHCARE THROUGH HOSPITAL SERVICES TO COMMUNITIES ACCROSS THE UNITED STATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A 331-BED ACUTE CARE HOSPITAL LOCATED IN RIVERDALE, GEORGIA THROUGH PRIME HEALTHCARE FOUNDATION - SOUTHERN REGIONAL, LLC, A DISREGARDED ENTITY FOR FEDERAL TAX PURPOSES.
OPERATION OF A 214-BED ACUTE CARE HOSPITAL LOCATED IN WOONSOCKET, RHODE ISLAND THROUGH PRIME HEALTHCARE FOUNDATION - LANDMARK, LLC, A DISREGARDED ENTITY FOR FEDERAL TAX PURPOSES.
OPERATION OF A 153-BED ACUTE CARE HOSPITAL LOCATED IN SHERMAN OAKS, CALIFORNIA THROUGH PRIME HEALTHCARE FOUNDATION - SHERMAN OAKS, LLC, A DISREGARDED ENTITY FOR FEDERAL TAX PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ahmed Nadeem Physician - Landmark Medical Center | 40 | $609,706 | |
Wajahat Faheem Physician - Landmark Medical Center | 40 | $524,717 | |
Susanna R Magee Physician - Landmark Medical Center | 40 | $493,640 | |
Michael R Souza CEO - Landmark Medical Center | Officer | 40 | $428,053 |
Mark Jaroch Physician - Coshocton | 40 | $406,064 | |
Vignesh Ponnusamy Physician - Landmark Medical Center | 40 | $404,656 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hallmark Health Care Solution Registry Nursing | 12/30/21 | $5,608,609 |
Bio-med Services Inc Medical Equipment Management | 12/30/21 | $10,205,652 |
Dpi Management Company Llc Anesthesia Provider | 12/30/21 | $2,664,994 |
Prime Healthcare Management Inc Mgmt & Business Offices Services | 12/30/21 | $48,558,445 |
Hles Of Ohio Llc Emergency Physician Services | 12/30/21 | $1,941,988 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $73,823,661 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,691,609 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $126,515,270 |
| Total Program Service Revenue | $846,833,512 |
| Investment income | $9,027,659 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,028,760 |
| Net Gain/Loss on Asset Sales | $3,627,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $990,033,576 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $95,196 |
| 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. | $837,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,322,139 |
| Pension plan accruals and contributions | $3,798,770 |
| Other employee benefits | $56,044,441 |
| Payroll taxes | $23,636,142 |
| Fees for services: Management | $46,212,646 |
| Fees for services: Legal | $4,758,157 |
| Fees for services: Accounting | $679,092 |
| Fees for services: Lobbying | $2,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $184,677 |
| Fees for services: Other | $93,072,744 |
| Advertising and promotion | $793,145 |
| Office expenses | $2,800,291 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,816,059 |
| Travel | $251,911 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $235,606 |
| Interest | $17,312,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,912,900 |
| Insurance | $22,910,734 |
| All other expenses | $14,433,298 |
| Total functional expenses | $898,079,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $356,755,572 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,161,570 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,206,760 |
| Prepaid expenses and deferred charges | $3,609,199 |
| Net Land, buildings, and equipment | $366,596,671 |
| Investments—publicly traded securities | $396,168,087 |
| Investments—other securities | $80,964,361 |
| Investments—program-related | $0 |
| Intangible assets | $4,467,038 |
| Other assets | $499,239,156 |
| Total assets | $1,893,168,414 |
| Accounts payable and accrued expenses | $143,234,877 |
| Grants payable | $0 |
| Deferred revenue | $987,738 |
| Tax-exempt bond liabilities | $119,285,350 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $136,459,303 |
| Unsecured mortgages and notes payable | $161,371 |
| Other liabilities | $692,970,419 |
| Total liabilities | $1,093,099,058 |
| Net assets without donor restrictions | $797,072,208 |
| Net assets with donor restrictions | $2,997,148 |
| 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 | $1,893,168,414 |
Grants Awarded
Over the last fiscal year, Prime Healthcare Foundation Inc has awarded $183,582 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Claremont, CA PURPOSE: SUPPORT THE YUHAAVIATAM CENTER FOR HEALTH STUDIES | $150,000 |
RIVER VIEW LOCAL SCHOOLS PURPOSE: BACKPACK WITH SUPPLIES PROGRAM | $33,582 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Prime Healthcare Foundation Inc has recieved totaling $1,387,220.
| Awarding Organization | Amount |
|---|---|
Dr Prem Reddy Family Foundation Victorville, CA PURPOSE: GENERAL CONTRIBUTION | $1,340,000 |
Tides Foundation San Francisco, CA PURPOSE: HEALTHY INDIVIDUALS AND COMMUNITIES | $40,000 |
Community Foundation Of St Clair County Port Huron, MI PURPOSE: GENERAL SUPPORT/BIG GIVE | $7,220 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Prime Healthcare Foundation Inc Ontario, CA | $1,893,168,414 | $990,033,576 |
Salem Health Salem, OR | $1,797,165,433 | $888,127,204 |
Keck Medical Center Of Usc Los Angeles, CA | $1,126,857,717 | $861,650,395 |
Port City Operating Company Llc Rancho Cordova, CA | $716,107,160 | $692,763,447 |
Yuma Regional Medical Center Yuma, AZ | $1,228,382,728 | $741,860,053 |
The Hospital Committee For The Livermore-Pleasanton Areas Livermore, CA | $347,907,183 | $360,769,019 |
Wyoming Medical Center Inc Phoenix, AZ | $279,059,082 | $279,752,645 |
Cfhs Holdings Inc Marina Del Rey, CA | $147,959,387 | $136,116,103 |
Hayward Sisters Hospital Hayward, CA | $71,008,487 | $118,634,519 |
Siskiyou Hospital Inc Yreka, CA | $82,691,725 | $102,051,246 |
Usc Verdugo Hills Hospital Glendale, CA | $165,951,606 | $75,528,918 |
Saint Alphonsus Medical Center- Ontario Inc Ontario, OR | $100,480,171 | $82,404,925 |