Memorial Professional Services Ltd
- Assets
- $7.1m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 162
- Location
- Toledo, OH
- Founding
- Data as of
- 12/2021
- EIN
- 27-3763993
Organization Overview
Memorial Professional Services Ltd is located in Toledo, OH. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 12/2021, Memorial Professional Services Ltd employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Professional Services Ltd 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, Memorial Professional Services Ltd generated $15.1m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $19.8m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 2 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
MEMORIAL PROFESSIONAL SERVICES IS PART OF THE PHYSICIAN SERVICES COMPONENT OF PROMEDICA HEALTH SYSTEM, INC.'S INTEGRATED DELIVERY SYSTEM AND PROVIDES SERVICES TO IMPROVE THE HEALTH CARE OF THE COMMUNITY IN AN EFFICIENT AND COST-EFFECTIVE MANNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMORIAL PROFESSIONAL SERVICES IS A PHYSICIAN SERVICES ORGANIZATION THAT PROVIDES SERVICE-ORIENTED, COST-EFFECTIVE HEALTH CARE SERVICES TO THE GENERAL PUBLIC AT A LOCAL LEVEL BY PEOPLE WHO WORK AND LIVE IN THE COMMUNITY THEY SERVE. - SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Iracema Arevalo MD Trustee, Physician | Trustee | 1 | $363,664 |
Lisa G Hawker Chairman | OfficerTrustee | 1 | $0 |
Randall Oostra Ex Officio, Phs Pres. & CEO | OfficerTrustee | 1 | $0 |
Angela Brandt Pres., Ex Officio (partial Year) | OfficerTrustee | 1 | $0 |
Steven M Cavanaugh Treasurer, CFO | Officer | 1 | $0 |
Jeffrey C Kuhn Secretary, Chief Legal Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $6,000 |
| 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 | $6,000 |
| Total Program Service Revenue | $15,074,612 |
| 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 | $15,080,612 |
| 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 | $13,219,002 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,367,723 |
| Payroll taxes | $769,796 |
| 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 | $1,383,356 |
| Advertising and promotion | $1,535 |
| Office expenses | $67,310 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $169,443 |
| Travel | $51,223 |
| 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 | $21,635 |
| Insurance | $374,835 |
| All other expenses | $125,345 |
| Total functional expenses | $19,802,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,304 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,487,148 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $26,340 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $146,666 |
| Net Land, buildings, and equipment | $74,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $541,146 |
| Other assets | $4,814,388 |
| Total assets | $7,092,437 |
| Accounts payable and accrued expenses | $2,227,868 |
| 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 | $51,299,744 |
| Total liabilities | $53,527,612 |
| Net assets without donor restrictions | -$46,435,175 |
| 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 | $7,092,437 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memorial Professional Services Ltd has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Promedica Foundation Toledo, OH PURPOSE: OPERATING GRANT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Akron General Partners Inc Independence, OH | $5,109,980 | $50,468,917 |
Great Lakes Physician Practice Pc Pittsburgh, PA | $14,269,559 | $33,003,744 |
United Physicians Care Inc Shinnston, WV | $7,483,188 | $43,634,994 |
Promedica Northwest Ohio Cardiology Consultants Llc Toledo, OH | $2,020,933 | $21,821,375 |
Northshore Health Centers Inc Portage, IN | $50,361,240 | $46,983,168 |
My Community Dental Centers Inc Petoskey, MI | $30,739,969 | $40,313,686 |
Geisinger Community Health Services Danville, PA | $22,899,957 | $44,522,143 |
Indiana Healthcare Physician Services Inc Indiana, PA | $5,430,202 | $29,710,547 |
Baldwin Family Health Care Baldwin, MI | $30,653,117 | $43,864,544 |
Medical Center Emergency Services Detroit, MI | $12,025,195 | $41,986,890 |
Big Sandy Health Care Inc Prestonsburg, KY | $26,374,341 | $40,449,494 |
Community Dialysis Center Shaker Heights, OH | $67,057,875 | $27,784,198 |