Cape Regional Medical Center
- Assets
- $198.5m
- Revenue
- $150.7m
- Investments
- $0.0
- Employees
- 1,296
- Location
- Cape May Court House, NJ
- Founding
- 10/1952
- Data as of
- 12/2021
- EIN
- 21-0662542
Organization Overview
Cape Regional Medical Center is located in Cape May Court House, NJ. The organization was established in 1952. 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, Cape Regional Medical Center employed 1,296 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cape Regional 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, Cape Regional Medical Center generated $150.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $139.7m during the year ending 12/2021. While expenses have increased by 2.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST QUALITY HEALTHCARE TO OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING INPATIENT, OUTPATIENT AND EMERGENCY MEDICALLY NECESSARY SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT (STATEMENT OF PROGRAM SERVICES) WHICH INCLUDES DETAILED INFORMATION REGARDING THE VARIOUS SERVICES PROVIDED BY THIS ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joanne Carrocino Fache Trustee - President/ceo | OfficerTrustee | 55 | $719,077 |
Mark R Gill VP Finance/cfo | Officer | 55 | $464,009 |
Andrea Mccoy MD Chief Medical Officer | Officer | 55 | $446,194 |
Byron K Hunter VP Human Resources | Officer | 55 | $281,872 |
Richard W Wheatley Chief Information Officer | Officer | 55 | $277,604 |
Thomas J Piratzky Cfre Exc Dir - Cape Regional Fdn | Officer | 55 | $258,702 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cerner Corporation Technology | 12/30/21 | $1,546,272 |
Crothall Healthcare Environmental | 12/30/21 | $2,584,193 |
Jersey Urology Group Medical | 12/30/21 | $2,007,500 |
University Of Pennsylvania Medical | 12/30/21 | $1,834,463 |
Nj Healthcare Specialists Pc Medical | 12/30/21 | $1,540,892 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $43,502 |
| Related organizations | $0 |
| Government grants | $3,978,635 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,289,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,311,374 |
| Total Program Service Revenue | $133,811,077 |
| Investment income | $4,153,326 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$55,782 |
| Net Gain/Loss on Asset Sales | $6,113,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $19,764 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,727,456 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,220 |
| Grants and other assistance to domestic individuals. | $28,695 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,564,798 |
| Compensation of current officers, directors, key employees. | $1,014,185 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $51,528,663 |
| Pension plan accruals and contributions | $2,433,402 |
| Other employee benefits | $9,588,903 |
| Payroll taxes | $4,860,067 |
| Fees for services: Management | $1,009,296 |
| Fees for services: Legal | $756,826 |
| Fees for services: Accounting | $373,268 |
| Fees for services: Lobbying | $32,932 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $494,820 |
| Fees for services: Other | $18,743,645 |
| Advertising and promotion | $208,324 |
| Office expenses | $3,003,307 |
| Information technology | $1,832,143 |
| Royalties | $0 |
| Occupancy | $2,109,993 |
| Travel | $604,390 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $878,906 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,047,794 |
| Insurance | $1,444,695 |
| All other expenses | $709,617 |
| Total functional expenses | $139,706,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,934,122 |
| Savings and temporary cash investments | $46,695 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,541,959 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,113,470 |
| Inventories for sale or use | $3,578,818 |
| Prepaid expenses and deferred charges | $3,372,405 |
| Net Land, buildings, and equipment | $46,828,737 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $119,351,970 |
| Intangible assets | $0 |
| Other assets | $3,775,779 |
| Total assets | $198,543,955 |
| Accounts payable and accrued expenses | $18,091,719 |
| 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 | $23,117,612 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,308,062 |
| Total liabilities | $92,517,393 |
| Net assets without donor restrictions | $104,768,747 |
| Net assets with donor restrictions | $1,257,815 |
| 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 | $198,543,955 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Cape Regional Medical Center has recieved totaling $48,500.
| Awarding Organization | Amount |
|---|---|
Philadelphia Foundation Philadelphia, PA PURPOSE: SERVING SENIORS | $20,000 |
Chatlos Foundation Inc New York, NY PURPOSE: TOWARD CONSTRUCTION AND EQUIPMENT FOR THE NEW FREE STANDING SURGERY CENTER ON THE MEDICAL CENTER CAMPUS | $15,000 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Oceanfirst Foundation Toms River, NJ PURPOSE: COVID-19 SUPPORT/COMMUNITY VACCINATION | $3,500 |
Endowment Analysis
| Beg. Balance | $4,902,972 |
| Earnings | $82 |
| Net Contributions | $2,163,474 |
| Other Expense | $5,808,713 |
| Ending Balance | $1,257,815 |
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 |