Southwestern Vermont Medical Center Inc
- Assets
- $99.2m
- Revenue
- $191.1m
- Investments
- $0.0
- Employees
- 1,149
- Location
- Bennington, VT
- Founding
- 02/1986
- Data as of
- 09/2021
- EIN
- 22-2563241
Organization Overview
Southwestern Vermont Medical Center Inc is located in Bennington, VT. The organization was established in 1986. 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, Southwestern Vermont Medical Center Inc employed 1,149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwestern Vermont 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 09/2021, Southwestern Vermont Medical Center Inc generated $191.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $181.1m during the year ending 09/2021. While expenses have increased by 2.7% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SOUTHWESTERN VERMONT MEDICAL CENTER IS A 99 BED HOSPITAL THAT PROVIDES INPATIENT AND OUTPATIENT MEDICAL SERVICES AND PHYSICIAN SERVICES IN BENNINGTON AND THE SURROUNDING AREA. IT IS VERMONT'S ONLY MAGNET HOSPITAL FOR NURSING EXCELLENCE. ITS SERVICES INCLUDE A FULLY STAFFED EMERGENCY DEPARTMENT, INCLUDING A CHEST PAIN UNIT, CANCER CENTER, A FAMILY CENTERED BIRTH PLACE, MINIMALLY INVASIVE AND OTHER SURGICAL SERVICES, A RENAL DIALYSIS UNIT, A FULL SERVICE ACCREDITED LABORATORY, PRIMARY CARE AND SPECIALIST PHYSICIANS. THERE ARE SATELLITE CAMPUSES IN DEERFIELD VALLEY, NORTHSHIRE AND POWNAL. SEE SCHEDULE O FOR ADDITIONAL INFORMATION.
THE MEDICAL PRACTICE GROUP INCLUDES: PRIMARY CARE PHYSICIANS, RHEUMATOLOGY AND IMMUNOLOGY, RADIATION ONCOLOGY, MEDICAL ONCOLOGY, PEDIATRIC PRACTICE, GENERAL SURGERY PRACTICE, GASTROENTEROLOGY, UROLOGY PRACTICE, ORTHOPEDICS, THREE OFF CAMPUS CLINICS, INTERNAL MEDICINE PRACTICE, INFECTIOUS DISEASE PRACTICE, OB/GYN PRACTICE, ANESTHESIA SERVICES, DENTISTRY, GERIATRIC PRACTICE, PULMONOLOGY, DERMATOLOGY, NEUROLOGY, CARDIOLOGY, PALLIATIVE CARE AND ENDOCRINOLOGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Dee CEO | OfficerTrustee | 40 | $537,388 |
Stephen D Majetich CFO | Officer | 40 | $457,440 |
Kevin P Dailey VP Hr | Officer | 39 | $303,313 |
Pamela A Duchene Cno | Officer | 40 | $269,884 |
Timothy Snyder Anesthesia Assistant | 40 | $253,137 | |
John P Labert Anesthesia Assistant | 40 | $233,696 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Counseling Serv Of Benn Clinical Services | 9/29/21 | $358,341 |
Dartmouth Hitchcock Medical Center Purchased/lab Svcs | 9/29/21 | $2,435,537 |
Renovo Solutions Llc Biomedical Engineering | 9/29/21 | $1,183,645 |
Dartmouth Hitchcock Medical Center Psa Agreement | 9/29/21 | $22,846,497 |
Medtigo Staffing Llc Consulting | 9/29/21 | $399,302 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $710,811 |
| Government grants | $6,470,269 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,239,630 |
| Total Program Service Revenue | $183,098,698 |
| Investment income | $155,671 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,100 |
| Net Gain/Loss on Asset Sales | $593,175 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $191,097,274 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,863 |
| 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. | $2,291,006 |
| Compensation of current officers, directors, key employees. | $1,654,853 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,876,117 |
| Pension plan accruals and contributions | $1,911,295 |
| Other employee benefits | $8,817,041 |
| Payroll taxes | $4,027,305 |
| Fees for services: Management | $9,053,237 |
| Fees for services: Legal | $112,692 |
| Fees for services: Accounting | $124,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,239 |
| Fees for services: Other | $37,519,782 |
| Advertising and promotion | $611,040 |
| Office expenses | $0 |
| Information technology | $3,494,582 |
| Royalties | $0 |
| Occupancy | $4,058,092 |
| Travel | $123,791 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,112 |
| Interest | $579,129 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,192,218 |
| Insurance | $703,751 |
| All other expenses | $6,617,861 |
| Total functional expenses | $181,123,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,748 |
| Savings and temporary cash investments | $15,863,336 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,392,160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,207,284 |
| Prepaid expenses and deferred charges | $3,208,416 |
| Net Land, buildings, and equipment | $38,231,055 |
| Investments—publicly traded securities | $9,222,840 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,837,253 |
| Total assets | $99,153,092 |
| Accounts payable and accrued expenses | $28,731,516 |
| Grants payable | $0 |
| Deferred revenue | $555,353 |
| Tax-exempt bond liabilities | $6,486,344 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,883,312 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,165,671 |
| Total liabilities | $60,822,196 |
| Net assets without donor restrictions | $38,330,896 |
| Net assets with donor restrictions | $0 |
| 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 | $99,153,092 |
Grants Awarded
Over the last fiscal year, Southwestern Vermont Medical Center Inc has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BENNINGTON COUNTY REGIONAL COMMISSION PURPOSE: SUPPORT | $20,000 |
Bennington, VT PURPOSE: SUPPORT | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southwestern Vermont Medical Center Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
W James And Jane K Truettner Foundation Crested Butte, CO PURPOSE: GENERAL SUPPORT | $3,000 |
Endowment Analysis
| Beg. Balance | $11,765,029 |
| Earnings | $1,091,480 |
| Net Contributions | $1,744 |
| Other Expense | $836,720 |
| Ending Balance | $12,021,533 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lahey Clinic Hospital Inc Burlington, MA | $439,333,881 | $1,036,261,688 |
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 |
St Francis Hospital Roslyn, NY | $1,505,143,319 | $834,224,682 |
Bronxcare Health System Bronx, NY | $743,333,524 | $835,076,495 |
United Health Services Hospitals Inc Binghamton, NY | $821,708,896 | $773,726,450 |
Good Samaritan Hosptial Medical Center West Islip, NY | $1,039,152,790 | $802,832,775 |
South Shore Hospital Inc South Weymouth, MA | $826,172,591 | $754,117,212 |
White Plains Hospital Medical Center White Plains, NY | $1,287,581,438 | $833,931,324 |
Vassar Brothers Medical Center Poughkeepsie, NY | $1,245,233,477 | $744,600,234 |
Jamaica Hospital Medical Center Jamaica, NY | $292,806,464 | $710,077,311 |
Mary Imogene Bassett Hospital Cooperstown, NY | $473,816,345 | $653,736,548 |