Heritage Valley Health System Inc
- Assets
- $127.9m
- Revenue
- $16.4m
- Investments
- $46.3m
- Employees
- 0
- Location
- Beaver, PA
- Founding
- 04/2001
- Data as of
- 06/2022
- EIN
- 25-1441518
Organization Overview
Heritage Valley Health System Inc is located in Beaver, PA. The organization was established in 2001. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Valley Health System 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 06/2022, Heritage Valley Health System Inc generated $16.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.5% each year . All expenses for the organization totaled $12.3m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING ORGANIZATION TO TAX-EXEMPT HOSPITALS (VALLEY MEDICAL FACILITIES, INC.) HELPING THE HOSPITALS TO FURTHER THEIR TAX-EXEMPT PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HERITAGE VALLEY HEALTH SYSTEM, INC. FORMED THE HERITAGE VALLEY HEALTHCARE NETWORK, LLC. (HVHN)IN FY 2017. THE PURPOSE OF THE HVHN IS TO FORM A CLINICALLY INTEGRATED PHYSICIAN HOSPITAL NETWORK WITH JOINT CONTRACTING AUTHORITY TO DEVELOP CARE PROTOCOLS AND OTHER CARE COORDINATION POLICIES USING EVIDENCE-BASED MEDICINE AND OTHER TECHNIQUES TO PROVIDE A MORE COST-EFFECTIVE HEALTH CARE PRODUCT WHILE MAINTAINING OR IMPROVING PHYSICIAN REIMBURSEMENT, USING EXISTING EXPERIENCE AND SUCCESS OF AFFILIATED PRIMARY CARE PRACTICES AS A FOUNDATION FROM WHICH TO BUILD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman F Mitry President & CEO | OfficerTrustee | 2 | $0 |
Scott M Elste Chair | OfficerTrustee | 2 | $0 |
Suzanne Paone Dha Vice-Chair | OfficerTrustee | 2 | $0 |
Bob Terwilliger Secretary | OfficerTrustee | 2 | $0 |
Elisa Ditommaso CPA Treasurer | OfficerTrustee | 2 | $0 |
Lynn George PHD Emeritus Board Chair | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Weber Gallagher Simpson Stapleton Fires Legal Fees | 6/29/22 | $364,225 |
Dickie Mccamey & Chilcote Legal Fees | 6/29/22 | $246,394 |
Cannon Cochran Mgmt Svcs Inc Insurance Claims Management | 6/29/22 | $174,024 |
Rulis & Bochicchio Llc Legal Fees | 6/29/22 | $143,535 |
Gordon Rees Scully Mansukhani Llp Legal Fees | 6/29/22 | $122,072 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,219,498 |
| Investment income | $3,141,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $86,735 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,447,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,769,184 |
| Pension plan accruals and contributions | $28,715 |
| Other employee benefits | $264,131 |
| Payroll taxes | $96,087 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $213 |
| Information technology | $213,279 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,271,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,189,845 |
| Savings and temporary cash investments | $4,510,809 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,321,148 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $355,391 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,070,960 |
| Investments—other securities | $46,299,571 |
| Investments—program-related | $7,425,829 |
| Intangible assets | $1,215,476 |
| Other assets | $59,474,406 |
| Total assets | $127,863,435 |
| Accounts payable and accrued expenses | $10,274,847 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,274,847 |
| Net assets without donor restrictions | $116,089,588 |
| Net assets with donor restrictions | $1,499,000 |
| 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 | $127,863,435 |