Holyoke Medical Center Inc

Organization Overview

Holyoke Medical Center Inc is located in Holyoke, MA. The organization was established in 1985. 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 09/2021, Holyoke Medical Center Inc employed 1,875 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holyoke Medical Center 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 09/2020, Holyoke Medical Center Inc generated $198.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $179.7m during the year ending 09/2020. While expenses have increased by 4.1% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

ACUTE CARE HOSPITAL, PROVIDING MEDICAL AND OTHER HEALTHCARE SERVICES TO RESIDENTS OF HOLYOKE, MA AND THE SURROUNDING AREAS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HOLYOKE MEDICAL CENTER, INC. (HMC) STRIVES TO SERVE THE HEALTH NEEDS OF THEIR MEDICAL SERVICE COMMUNITY IN A HIGH QUALITY AND EFFICIENT MANNER. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.TO THIS END, HMC SHALL: (1) PROVIDE COMPASSIONATE CARE TO ALL OF WHOM IT SERVES WITH A COMMITMENT TO DEVELOPING CULTURAL DIVERSITY AND COMPETENCIES IN OUR PROGRAMS AND WORKFORCE SO THAT WE MAY BETTER SERVE OUR PATIENTS; (2) IDENTIFY AND SERVE THOSE NEEDS WHICH ARE PREVALENT AND SUBSTANTIAL IN THE COMMUNITY AS A WHOLE, OR WITHIN MAJOR POPULATION GROUPS, AND WHICH CAN BE ADEQUATELY MET BY THE PROVISION OF BASIC PRIMARY AND SECONDARY HEALTH CARE SERVICES; (3) PROVIDE INFORMATION, EDUCATION, AND EXPERTISE TO OUR COMMUNITY IN ORDER TO PROMOTE THE GENERAL HEALTH OF ITS CITIZENS; (4) PROVIDE AN ENVIRONMENT OF EXCELLENCE AND GROWTH IN WHICH HEALTH CARE PROFESSIONALS CAN USE THEIR SKILLS AND ABILITIES TO THE FULLEST EXTENT POSSIBLE; (5) PROVIDE COMPETITIVE WAGES AND BENEFITS, AS WELL AS SAFE AND DIGNIFIED WORKING CONDITIONS, FOR ALL EMPLOYEES; (6) ENSURE FINANCIAL RESPONSIBILITY IN THE OPERATION OF THE MEDICAL CENTER IN ORDER TO GUARANTEE THE FUTURE VIABILITY OF OUR MISSION; (7) PROVIDE A FORMAL, PUBLIC, AND ONGOING PROGRAM OF COMMUNITY BENEFITS, IN COOPERATION WITH COMMUNITY INDIVIDUALS AND ORGANIZATIONS, TO IMPROVE THE HEALTH STATUS OF THE PUBLIC INCLUDING ESPECIALLY THE MEDICALLY AND ECONOMICALLY VULNERABLE. HOLYOKE MEDICAL CENTER, INC. PROVIDED INPATIENT, OUTPATIENT, OB/GYN, AND EMERGENCY HEALTHCARE SERVICES AND CERTAIN PHYSICIAN SERVICES TO THE RESIDENTS OF HOLYOKE, MASSACHUSETTS AND THE SURROUNDING COMMUNITIES. INPATIENT HEALTHCARE SERVICES INCLUDED MEDICAL, SURGICAL, CRITICAL CARE, CARDIAC, OBSTETRICAL, PSYCHIATRIC, AND ONCOLOGY SERVICES. DURING FY 2021, HMC PROVIDED 28,904 PATIENT DAYS OF INPATIENT SERVICES WITH 5,443 DISCHARGES. OUTPATIENT HEALTHCARE SERVICES INCLUDED A FULL ARRAY OF DIAGNOSTIC, THERAPEUTIC, AND BEHAVIORAL HEALTH SERVICES. DURING FY 2021, HMC HAD 334,334 OUTPATIENT VISITS. EMERGENCY SERVICES WERE PROVIDED BY A 24-HOUR EMERGENCY DEPARTMENT. DURING FY 2021, HMC HAD 38,816 EMERGENCY DEPARTMENT VISITS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Valley Health Systems Inc
Management Services
$2,746,850
Sound Physicians Of Massachusetts
Physicians
$3,708,312
Locum Leaders Llc
Staffing Services
$1,572,864
Unidine Corporation
Cafeteria Staffing
$1,523,642
Quest Diagnostics Nichols Institute
Laboratory Services
$1,313,560
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$24,870,792
Investment income $323,724
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $131,122
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 $198,185,895

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Holyoke Medical Center Inc has recieved totaling $311.

Awarding OrganizationAmount
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$311
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,346,962
Earnings$215,145
Other Expense$34,704
Ending Balance$1,527,403

Peer Organizations

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