Chesapeake Regional Medical Group
- Assets
- $5.9m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 236
- Location
- Chesapeake, VA
- Founding
- 01/2011
- Data as of
- 06/2022
- EIN
- 26-2366542
Organization Overview
Chesapeake Regional Medical Group is located in Chesapeake, VA. The organization was established in 2011. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Chesapeake Regional Medical Group employed 236 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesapeake Regional Medical Group 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, Chesapeake Regional Medical Group generated $15.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $31.1m during the year ending 06/2022. While expenses have increased by 18.3% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF CHESAPEAKE REGIONAL MEDICAL GROUP IS TO ATTRACT HARD-TO-FIND PHYSICIANS TO THE CHESAPEAKE, VIRGINIA AREA AND RETAIN THEM WITH PRACTICE ADMINISTRATION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE PHYSICIAN SERVICES TO CHESAPEAKE, VIRGINIA AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aarti S Desai Physician | 40 | $738,507 | |
Reese Jackson CEO & President | Officer | 0.1 | $0 |
John Robert Baker Physician | 40 | $479,091 | |
Mary In-Ping Huang Cobb Physician | 40 | $706,541 | |
John Shutack Physician | 40 | $653,175 | |
Steve Mcdonnell CFO | Officer | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bayview Physicians Pc Physician Coverage | 6/29/22 | $255,944 |
Chg Companies Inc Dba Comphealth Physician Coverage | 6/29/22 | $177,507 |
Modio Health Inc Physician Credential | 6/29/22 | $349,975 |
Weatherby Healthcare Physician Coverage | 6/29/22 | $167,439 |
Thomas L Carter Md Physician Coverage | 6/29/22 | $128,200 |
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 | $15,024,565 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $15,896,081 |
| 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 | $20,227,106 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,051,167 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,054,737 |
| 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 | $69,187 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $577,676 |
| Insurance | $503,450 |
| All other expenses | $217,205 |
| Total functional expenses | $31,107,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,601,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,719,648 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $168 |
| Prepaid expenses and deferred charges | $148,558 |
| Net Land, buildings, and equipment | $2,263,877 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $119,000 |
| Other assets | $29,426 |
| Total assets | $5,882,507 |
| Accounts payable and accrued expenses | $298,202 |
| 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 | $82,675,721 |
| Total liabilities | $82,973,923 |
| Net assets without donor restrictions | -$77,091,416 |
| 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 | $5,882,507 |