Memorial Hospital
- Assets
- $227.8m
- Revenue
- $227.9m
- Investments
- $52.6m
- Employees
- 1,830
- Location
- Owosso, MI
- Founding
- 05/1937
- Data as of
- 12/2020
- EIN
- 38-1358208
Organization Overview
Memorial Hospital, operating under the name Memorial Healthcare, is located in Owosso, MI. The organization was established in 1937. 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 12/2021, Memorial Healthcare employed 1,830 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Healthcare 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 12/2020, Memorial Healthcare generated $227.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $223.6m during the year ending 12/2020. While expenses have increased by 10.3% 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTHCARE SERVICES TO PATIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A MEDICAL AND SURGICAL HOSPITAL THAT PROVIDES INPATIENT AND OUTPATIENT SERVICES TO ALL PATIENTS.INPATIENT DISCHARGES: 3,895, PATIENT DAYS: 24,993, INPATIENT SURGERIES: 814, BIRTHS: 463
ANCILLARY SERVICES (OUTPATIENT VISITS: 303,421, OUTPATIENT SURGERIES: 3,613, PAIN MANAGEMENT VISITS: 6,871)
MMA SERVICES (PHYSICIAN CLINICS, MMA RVU'S: 404,769)
ALL OTHER PROGRAM SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ramy M Kurdi Physician | 40 | $1,088,167 | |
Rany A Aburashed DO Member | Trustee | 40 | $1,031,384 |
Tarek R Pacha Physician | 40 | $826,922 | |
Ashraf M Elbanna Physician | 40 | $806,427 | |
Brian L Long Executive Director | OfficerTrustee | 58 | $749,445 |
Amna Mehdi Physician | 40 | $620,393 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ecs Central Michigan Pc Contracted Emergency Room Physicians | 12/30/21 | $1,823,074 |
Alliance Hni Llc Rental Of Equipment | 12/30/21 | $1,735,966 |
Remer Plumbing & Heating Hvac Services | 12/30/21 | $738,686 |
Ahsa Hospital Staffing | 12/30/21 | $1,641,626 |
Mclaren Mid Michigan Physicians Pc Hospital Staffing | 12/30/21 | $712,503 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $87,709 |
| Government grants | $17,080,780 |
| 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 | $17,168,489 |
| Total Program Service Revenue | $205,750,661 |
| Investment income | $2,044,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,632,597 |
| Net Gain/Loss on Asset Sales | $471,895 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $227,898,394 |
| 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. | $4,634,849 |
| Compensation of current officers, directors, key employees. | $4,634,849 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,398,378 |
| Pension plan accruals and contributions | $1,223,586 |
| Other employee benefits | $20,371,347 |
| Payroll taxes | $5,140,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $284,777 |
| Fees for services: Accounting | $89,416 |
| Fees for services: Lobbying | $20,224 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $185,370 |
| Fees for services: Other | $19,004,315 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,000,161 |
| Travel | $167,684 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $500,600 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,394,114 |
| Insurance | $848,501 |
| All other expenses | $1,702,046 |
| Total functional expenses | $223,646,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,212,699 |
| Savings and temporary cash investments | $25,163,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,730,409 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,679,923 |
| Prepaid expenses and deferred charges | $3,118,523 |
| Net Land, buildings, and equipment | $75,373,601 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $52,635,557 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,897,320 |
| Total assets | $227,811,494 |
| Accounts payable and accrued expenses | $28,575,033 |
| Grants payable | $0 |
| Deferred revenue | $14,964,135 |
| Tax-exempt bond liabilities | $62,976,639 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,903,481 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $674,234 |
| Total liabilities | $110,093,522 |
| Net assets without donor restrictions | $117,717,972 |
| 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 | $227,811,494 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memorial Hospital has recieved totaling $9,000.
| Awarding Organization | Amount |
|---|---|
John R Shofnitz Charitable Tr Cincinnati, OH PURPOSE: ANNUAL FUND | $9,000 |
Endowment Analysis
| Beg. Balance | $5,665,470 |
| Earnings | $316,175 |
| Other Expense | $226,165 |
| Grants | $105,527 |
| Ending Balance | $5,649,953 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Deaconess Hospital Inc Evansville, IN | $1,921,220,397 | $1,102,144,618 |
Kettering College Miamisburg, OH | $1,728,903,615 | $1,055,020,178 |
Covenant Medical Center Inc Saginaw, MI | $1,038,790,282 | $776,913,978 |
Allegiance Health Jackson, MI | $830,742,312 | $709,583,429 |
Indiana University Health Bloomingon Inc Indianapolis, IN | $990,966,337 | $700,343,585 |
Munson Medical Center Traverse City, MI | $1,240,001,316 | $752,883,085 |
Bethesda Hospital Inc Cincinnati, OH | $1,219,368,332 | $686,286,971 |
Mercy Health System Corporation Janesville, WI | $590,598,309 | $634,611,105 |
The Good Samaritan Hospital Of Cincinnati Ohio Dtd 01251995 Cincinnati, OH | $942,007,823 | $651,965,819 |
St Vincent Hospital-Hospital Sisters-Third Order Of St Francis Green Bay, WI | $911,771,001 | $646,081,418 |
Munster Medical Research Foundation Inc Munster, IN | $297,008,950 | $660,640,751 |
Aspirus Wausau Hospital Inc Wausau, WI | $652,843,423 | $674,491,769 |