Medical Center Company
- Assets
- $101.9m
- Revenue
- $38.6m
- Investments
- $0.0
- Employees
- 33
- Location
- Cleveland, OH
- Founding
- 06/1937
- Data as of
- 12/2021
- EIN
- 34-0714460
Organization Overview
Medical Center Company is located in Cleveland, OH. The organization was established in 1937. According to its NTEE Classification (W12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Medical Center Company employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Center Company 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, Medical Center Company generated $38.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $39.5m during the year ending 12/2021. 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
THE MEDICAL CENTER COMPANY ("MCCO") IS A NOT-FOR-PROFIT DISTRICT ENERGY COMPANY THAT PROVIDES LOW COST UTILITIES TO MANY OF UNIVERSITY CIRCLE'S HEALTHCARE, EDUCATIONAL, CULTURAL AND RELIGIOUS INSTITUTIONS. CASE WESTERN RESERVE UNIVERSITY AND UNIVERSITY HOSPITALS OF CLEVELAND ARE THE TWO MAJOR MEMBERS ON CAMPUS. A DISTRICT ENERGY SYSTEM OPTIMIZES THE USE OF FUELS, POWER AND RESOURCES WITHIN THE COMMUNITY, DELIVERING COST-EFFECTIVE SERVICES TO ITS CUSTOMERS AND OPERATING IN A MORE ENVIRONMENTALLY SUSTAINABLE MANNER.MCCO PRACTICES ENVIRONMENTAL STEWARDSHIP BY CONTINUING TO ADD ZERO EMISSION RENEWABLE ENERGY RESOURCES TO MEET A PORTION OF OUR CUSTOMERS' ELECTRICITY REQUIREMENTS. IN 2013, MCCO REDEVELOPED A 5-ACRE BROWNFIELD SITE AND INSTALLED A 1 MEGAWATT SOLAR PV ARRAY. MCCO ALSO OWNS A 37.4 KW SOLAR ARRAY AND A 67 KW SOLAR ARRAY LOCATED ON UNIVERSITY ROOFTOPS ALONG WITH A 44.1 KW SOLAR ARRAY LOCATED ON THE ROOF OF THE UNIVERSITY HOSPITALS SEIDMAN CANCER CENTER. THE ADDITION OF THESE SOLA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION AND DISTRIBUTION OF ELECTRICITY, STEAM, HOT WATER, CHILLED WATER, COMPRESSED AIR AND VACUUM FOR LIGHTING, HEAT, POWER, COOLING, AND OTHER PURPOSES TO VARIOUS NOT-FOR-PROFIT ORGANIZATIONS.MCCO, ALONG WITH ITS MEMBERS, MADE THE DECISION TO CEASE BURNING COAL IN JANUARY 2017, AND IS NOW A 100% NATURAL GAS-FIRE FACILITY. THIS DECISION WAS BASED ON THEIR COMMITMENT FOR REDUCING CARBON EMISSIONS AND PROMOTING A CLEAN ENERGY FACILITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mc King President And CEO | Officer | 40 | $252,508 |
Anne M Roberts Business Director | 40 | $129,851 | |
Steve Specht Employee | 40 | $126,691 | |
Richard Rylow Employee | 40 | $122,107 | |
Brian Fisher Employee | 40 | $121,844 | |
Mark Lamparelli Employee | 40 | $113,783 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Operations Llc Management Company | 12/30/18 | $1,328,728 |
Feedwater Treatment Systems Inc Contract Services | 12/30/18 | $225,705 |
Gardiner Contract Services | 12/30/18 | $201,631 |
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 | $38,609,486 |
| Investment income | $3,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,013 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,605,475 |
| 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 | $2,738,572 |
| Pension plan accruals and contributions | $140,644 |
| Other employee benefits | $373,013 |
| Payroll taxes | $198,974 |
| Fees for services: Management | $1,697,941 |
| Fees for services: Legal | $13,887 |
| Fees for services: Accounting | $68,040 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,307 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $322,566 |
| 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 | $570,974 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,458,078 |
| Insurance | $695,003 |
| All other expenses | $2,317,962 |
| Total functional expenses | $39,534,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $24,925,849 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,374,566 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,370 |
| Prepaid expenses and deferred charges | $903,969 |
| Net Land, buildings, and equipment | $72,131,636 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $515,424 |
| Total assets | $101,880,014 |
| Accounts payable and accrued expenses | $3,772,406 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $61,843,834 |
| 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 | $65,616,240 |
| Net assets without donor restrictions | $36,263,774 |
| 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 | $101,880,014 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Medical Center Company has recieved totaling $13,581.
| Awarding Organization | Amount |
|---|---|
Ohio Child Care Resource And Referral Association Columbus, OH PURPOSE: GENERAL SUPPORT | $13,581 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Medical Center Company Cleveland, OH | $101,880,014 | $38,605,475 |
Government Integrity Fund Columbus, OH | $0 | $4,714,760 |
Elcam Inc St Marys, PA | $19,431,330 | $4,390,197 |
Iha Hospital Assistance Foundation Inc Indianapolis, IN | $561,665 | $2,833,766 |
Oh-Go Sandusky, OH | $452,264 | $1,544,533 |
Montgomery County Foundation Inc Blue Bell, PA | $6,846,904 | $2,066,247 |
Kids Cancer Alliance Inc Louisville, KY | $1,595,560 | $1,331,527 |
The Love Pray Peace Project Veterans Residence Drexel Hill, PA | $69,517 | $509,585 |
The Cleveland Police Foundation Cleveland, OH | $402,041 | $308,860 |
Women For Economic And Leadership Development Westerville, OH | $526,843 | $678,319 |
Isadore Binzer Fund Brooklyn, OH | $7,683,436 | $1,276,125 |
Advocates For Homeless & Those In Need Inc Fairless Hills, PA | $466,442 | $421,506 |