Spectrum Health Systems
- Assets
- $30.1m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 374
- Location
- Watervliet, MI
- Founding
- 08/1950
- Data as of
- 12/2019
- EIN
- 38-1368745
Organization Overview
Spectrum Health Systems is located in Watervliet, MI. The organization was established in 1950. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 09/2019, Spectrum Health Systems employed 374 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Spectrum Health Systems 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 12/2019, Spectrum Health Systems generated $12.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.1%) each year. All expenses for the organization totaled $11.2m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (22.1%) per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HEALTH, INSPIRE HOPE AND SAVE LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE GENERAL HEALTH OF THE COMMUNITY THROUGH EDUCATION AND HEALTHCARE PRACTICES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed CEO Of Lchw | OfficerTrustee | 25 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kalamazoo Foot & Ankle Specialists Plc Physician Services | 9/29/19 | $912,300 |
Epmg Of Michigan Pc Er Services | 9/29/19 | $653,600 |
Roggow Construction Company Construction Services | 9/29/19 | $600,100 |
Great Lakes Anesthesia Llp Anesthesia Services | 9/29/19 | $136,825 |
Psychology Associates Pc Psychology Services | 9/29/19 | $105,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $308,730 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,200 |
| 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 | $12,221,402 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $5,438,790 |
| Pension plan accruals and contributions | $161,173 |
| Other employee benefits | $586,103 |
| Payroll taxes | $326,724 |
| 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 | $914,045 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $192,693 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,576 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $426,690 |
| Insurance | $89,343 |
| All other expenses | $315,666 |
| Total functional expenses | $11,220,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,712,777 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,676,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,717,626 |
| Inventories for sale or use | $475,500 |
| Prepaid expenses and deferred charges | $257,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,610,338 |
| Total assets | $30,083,153 |
| Accounts payable and accrued expenses | $1,983,335 |
| 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 | $520,089 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,503,424 |
| Net assets without donor restrictions | $25,964,440 |
| Net assets with donor restrictions | $1,615,289 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $27,579,729 |