Somc Medical Care Foundation Inc
- Assets
- $14.7m
- Revenue
- $44.7m
- Investments
- $0.0
- Employees
- 204
- Location
- Portsmouth, OH
- Founding
- 04/2006
- Data as of
- 06/2021
- EIN
- 31-1374523
Organization Overview
Somc Medical Care Foundation Inc is located in Portsmouth, OH. The organization was established in 2006. 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 06/2021, Somc Medical Care Foundation Inc employed 204 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somc Medical Care Foundation 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 06/2021, Somc Medical Care Foundation Inc generated $44.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $85.4m during the year ending 06/2021. While expenses have increased by 9.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AT SOMC, OUR MISSION IS TO MAKE A DIFFERENCE. WE STRIVE TO LIVE OUT THAT MISSION BY PROVIDING OUR REGION WITH THE HIGHEST QUALITY OF CARE, DELIVERED BY PROFESSIONALS WHO ARE AMONG THE BEST IN THEIR FIELDS. WE EXTEND THAT CARE AND PASSION TO MAKE A DIFFERENCE IN THE COMMUNITY BY BEING A VERY GOOD NEIGHBOR, EMPLOYER, AND COMMUNITY SUPPORTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOMC ANESTHESIA ASSOCIATES - MEDICAL DOCTORS TRAINED TO ADMINISTER ANESTHETICS AND MANAGE THE MEDICAL CARE OF PATIENTS BEFORE, DURING, AND AFTER SURGERY.
SOMC HEART AND VASCULAR SERVICES - MEDICAL DOCTORS WORKING TO PREVENT, DIAGNOSE, AND TREAT DISORDERS OF THE HEART AND BLOOD VESSELS.
SOMC RADIOLOGY SERVICES - MEDICAL DOCTORS TRAINED TO USE STATE-OF-THE-ART RADIANT ENERGY MEDICAL IMAGING TECHNOLOGY TO HELP PREVENT, DIAGNOSE, AND TREAT DISEASES.
VARIOUS SPECIALTIES WHICH INCLUDE, BUT NOT LIMITED TO: SOMC ORTHOPEDIC ASSOCIATES, SOMC PULMONOLOGY ASSOCIATES, SOMC SURGICAL ASSOCIATES, SOMC HOSPITALIST ASSOCIATES, SOMC NEUROLOGY ASSOCIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay M Hamze Physician | 43.69 | $1,879,197 | |
Daniel B Jovanovich Physician - Smd 2.2 | 42.73 | $1,525,949 | |
Tarun R Nagrani Physician | 41.46 | $1,479,978 | |
Jared C Bentley Physician | 40 | $1,031,735 | |
Marion R Hochstetler Jr Physician - Smd 2.2 | Officer | 46.36 | $1,009,117 |
Jeremiah T Martin Physician | 40 | $973,209 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medical Doctor Associates Inc Locum Coverage | 6/29/15 | $136,802 |
Apogee Medical Management Hospitalist Coverage | 6/29/15 | $1,032,837 |
Nighthawk Radiology Services Diagnostic Reading Services | 6/29/15 | $112,720 |
Comphealth Locum Coverage | 6/29/15 | $133,268 |
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 | $44,477,605 |
| Investment income | $166,087 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,107 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,708,757 |
| 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. | $3,436,687 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,605,767 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,639,905 |
| Payroll taxes | $21,676,199 |
| Fees for services: Management | $3,323,849 |
| 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 | $8,427,280 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $561,040 |
| All other expenses | $0 |
| Total functional expenses | $85,410,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,250 |
| Savings and temporary cash investments | $1,667,399 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,034,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,722,748 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | -$10,624 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,232,698 |
| Total assets | $14,653,193 |
| Accounts payable and accrued expenses | $16,159,665 |
| 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 | $4,756,415 |
| Total liabilities | $20,916,080 |
| Net assets without donor restrictions | -$6,262,887 |
| 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 | $14,653,193 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Caresource Dayton, OH | $699,160,352 | $995,681,840 |
The Childrens Hospital Of Philadelphia Foundation Philadelphia, PA | $3,896,316,455 | $328,703,777 |
University Physician Group Detroit, MI | $80,036,022 | $144,162,701 |
Childrens Hospital Cincinnati, OH | $4,344,291,069 | $222,578,660 |
Somc Medical Care Foundation Inc Portsmouth, OH | $14,653,193 | $44,708,757 |
Deaconess Health System Inc Evansville, IN | $144,110,992 | $33,405,417 |
Via Affiliates Doylestown, PA | $20,467,499 | $60,672,147 |
Dorothy Rider Pool Health Care Tr Uw L P Pool No 8 76431 Pittsburgh, PA | $33,435 | $17,533,563 |
Norton Properties Inc Louisville, KY | $374,509,086 | $60,233,665 |
West Virginia University Hospitals East Inc Martinsburg, WV | $676,755 | $63,515,006 |
Ufcw Local 1776 & Participating Employers Health & Welfare Fund Plymouth Meeting, PA | $60,321,476 | $63,078,058 |
Associates Health Trust Solon, OH | $8,159,190 | $46,591,493 |