Promedica Continuing Care Services Corp
- Assets
- $38.8m
- Revenue
- $1.1m
- Investments
- $667.4k
- Employees
- 349
- Location
- Toledo, OH
- Founding
- 02/1967
- Data as of
- 12/2023
- EIN
- 34-4492440
Organization Overview
Promedica Continuing Care Services Corp is located in Toledo, OH. The organization was established in 1967. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2023, Promedica Continuing Care Services Corp employed 349 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promedica Continuing Care Services Corp 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 12/2023, Promedica Continuing Care Services Corp generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (33.2%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (31.9%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMEDICA CONTINUING CARE SERVICES CORPORATION PROVIDES A VARIETY OF NON-ACUTE HEALTH SERVICES TO ALL INDIVIDUALS WITHIN THE COMMUNITY. THESE SERVICES PRIMARILY CONSIST OF RESIDENTIAL SKILLED NURSING AND LONG-TERM CARE, AS WELL AS HOME HEALTH AND INPATIENT/OUTPATIENT HOSPICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMEDICA CONTINUING CARE SERVICES CORPORATION NO LONGER ENGAGES IN IV INFUSION THERAPY. THAT PROGRAM HAS TRANSFERRED TO AN AFFILIATED NON-PROFIT CORPORATION. PROMEDICA CONTINUING CARE SERVICES CORPORATION IS IN THE PROCESS OF WINDING DOWN TOWARD LEGAL DISSOLUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arturo Polizzi Trustee/ceo | OfficerTrustee | 1 | $0 |
Louis Robichaux Treasurer - Part Year | OfficerTrustee | 1 | $0 |
Terrence Metzger Trustee/treasurer | OfficerTrustee | 1 | $0 |
Steve Sadowski Trustee/secretary | OfficerTrustee | 1 | $0 |
Lisa Hawker Trustee | Trustee | 1 | $0 |
Bill Mcdonnell Trustee - Part Year | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
J & J Towing Serivce Center Towing Service | 12/30/20 | $314,627 |
Trc Inc Engineering Services | 12/30/20 | $103,940 |
R Smith International Dba Rsource Billing Appeals Services | 12/30/20 | $177,510 |
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 | $0 |
| Investment income | $40,421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $617,248 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,123,386 |
| 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 | $916,788 |
| Pension plan accruals and contributions | $35,439 |
| Other employee benefits | $109,794 |
| Payroll taxes | $64,435 |
| 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 | $13,785 |
| Advertising and promotion | $610 |
| Office expenses | $9,830 |
| Information technology | $366 |
| Royalties | $0 |
| Occupancy | $422 |
| Travel | $16,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $63,569 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,248 |
| Insurance | $119,356 |
| All other expenses | $0 |
| Total functional expenses | $1,372,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,669 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $171,567 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,722,921 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $667,446 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $35,132,855 |
| Total assets | $38,765,482 |
| Accounts payable and accrued expenses | $6,835,841 |
| 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 | $6,835,841 |
| Net assets without donor restrictions | $31,929,641 |
| 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 | $38,765,482 |
Grants Awarded
Over the last fiscal year, Promedica Continuing Care Services Corp has awarded $2,073,902 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PROMEDICA FOUNDATION PURPOSE: OPERATING GRANT | $349,744 |
PROMEDICA CONTINUUM SERVICES PURPOSE: OPERATING GRANT | $1,531,044 |
PROMEDICA RETAIL GROUP PURPOSE: OPERATING GRANT | $193,114 |