Shore Memorial Hospital
- Assets
- $335.8m
- Revenue
- $235.6m
- Investments
- $0.0
- Employees
- 1,347
- Location
- Somers Point, NJ
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 21-0660835
Organization Overview
Shore Memorial Hospital, operating under the name Shore Medical Center, is located in Somers Point, NJ. The organization was established in 1942. 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 12/2021, Shore Medical Center employed 1,347 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shore Medical 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 12/2021, Shore Medical Center generated $235.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $198.4m during the year ending 12/2021. While expenses have increased by 1.4% per year over the past 7 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, Shore Medical Center has awarded 72 individual grants totaling $1,133,425. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CARE FOR & RESPECT ALL PATIENTS, THEIR FAMILIES & EACH OTHER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY INPATIENT MEDICAL SERVICES (EXCLUDES SURGICAL CASES AND MATERNAL CHILD HEALTH), TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN, RELIGION OR ABILITY TO PAY. DURING 2021, THE ORGANIZATION HAD 6,480 DISCHARGES FOR A TOTAL OF 31,778 PATIENT DAYS. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY SAME DAY SURGERY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. DURING 2021, THE ORGANIZATION TREATED 3,686 SAME DAY SURGERY CASES. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
EXPENSES INCURRED IN PROVIDING MEDICALLY NECESSARY MATERNAL AND PEDIATRIC INPATIENT SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. DURING 2021, THE ORGANIZATION HAD 1,800 DISCHARGES FOR A TOTAL OF 4,739 PATIENT DAYS. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald W Johnson Trustee - President/ceo | OfficerTrustee | 55 | $1,436,860 |
David R Hughes Cfo/cdo | Officer | 55 | $568,844 |
Linda S Kenwood Chief Operating Officer | Officer | 55 | $512,003 |
Jeanne M Rowe MD Chief Medical Officer | Officer | 55 | $502,526 |
Frederick L Banner Chief Information Officer | Officer | 55 | $328,672 |
Stephen Capecci DO Hospitalist | 55 | $318,810 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Xanitos Inc Cleaning | 12/30/21 | $3,796,145 |
Advantage Women's Health Llc Medical | 12/30/21 | $1,424,843 |
Shore Memorial Physicians Group Medical | 12/30/21 | $1,248,760 |
Bacharach Institute For Rehab Medical | 12/30/21 | $1,203,817 |
Unidine Corporation Food Management | 12/30/21 | $3,271,762 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $242,820 |
| Related organizations | $0 |
| Government grants | $3,686,502 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,305,406 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,234,728 |
| Total Program Service Revenue | $225,705,940 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $708,535 |
| Net Gain/Loss on Asset Sales | $3,426,685 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $915 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $235,602,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $110,930 |
| 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. | $4,344,878 |
| Compensation of current officers, directors, key employees. | $933,631 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,111,160 |
| Pension plan accruals and contributions | $1,759,718 |
| Other employee benefits | $6,513,283 |
| Payroll taxes | $5,830,876 |
| Fees for services: Management | $112,500 |
| Fees for services: Legal | $436,443 |
| Fees for services: Accounting | $271,500 |
| Fees for services: Lobbying | $65,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,727,414 |
| Advertising and promotion | $477,462 |
| Office expenses | $1,846,174 |
| Information technology | $3,206,189 |
| Royalties | $0 |
| Occupancy | $3,061,480 |
| Travel | $17,168 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,588 |
| Interest | $462,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,067,764 |
| Insurance | $2,088,123 |
| All other expenses | $1,091,197 |
| Total functional expenses | $198,391,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,173,852 |
| Savings and temporary cash investments | $541,257 |
| Pledges and grants receivable | $129,410 |
| Accounts receivable, net | $19,865,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,134,161 |
| Prepaid expenses and deferred charges | $2,233,931 |
| Net Land, buildings, and equipment | $106,360,159 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $165,720,912 |
| Intangible assets | $0 |
| Other assets | $28,672,559 |
| Total assets | $335,831,463 |
| Accounts payable and accrued expenses | $33,209,953 |
| Grants payable | $0 |
| Deferred revenue | $6,170,943 |
| Tax-exempt bond liabilities | $39,396,767 |
| 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 | $78,819,111 |
| Total liabilities | $157,596,774 |
| Net assets without donor restrictions | $174,379,075 |
| Net assets with donor restrictions | $3,855,614 |
| 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 | $335,831,463 |
Grants Awarded
Over the last fiscal year, Shore Memorial Hospital has awarded $100,751 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ATLANTIC MEDICAL IMAGING LLC PURPOSE: SUB-GRANTEE | $34,077 |
ADVANCED SHORE IMAGING ASSOCIATES LLC PURPOSE: SUB-GRANTEE | $26,294 |
RELIANCE MEDICAL GROUP LLC PURPOSE: SUB-GRANTEE | $20,416 |
CAPE MAY COUNTY TECHNICAL SCHOOL DISTRICT PURPOSE: PROGRAM SUPPORT | $10,000 |
THE PREMIER SURGICAL NETWORK PURPOSE: SUB-GRANTEE | $9,964 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Shore Memorial Hospital has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Max And Helena Gurwicz Charitable Foundation Northfield, NJ PURPOSE: CHARITABLE | $30,000 |
Endowment Analysis
| Beg. Balance | $1,076,572 |
| Earnings | -$4,995 |
| Ending Balance | $1,071,577 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
Newyork-Presbyterian-Queens Flushing, NY | $898,800,022 | $913,594,490 |
New York-Presbyterian Brooklyn Methodist Brooklyn, NY | $1,733,884,296 | $932,635,722 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Englewood Hospital And Medical Center A New Jersey Nonprofit Corp Englewood, NJ | $770,563,796 | $890,451,423 |
Inspira Medical Centers Inc Bridgeton, NJ | $1,997,035,403 | $960,599,521 |
Valley Hospital Inc Ridgewood, NJ | $2,214,086,950 | $1,000,529,103 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Virtu-West Jersey Health System Inc Marlton, NJ | $2,706,789,713 | $1,000,808,483 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Bayhealth Medical Center Inc Dover, DE | $1,592,804,671 | $861,509,299 |