Mercy-Memorial Hospital Corporation
- Assets
- $246.9m
- Revenue
- $158.4m
- Investments
- $693.9k
- Employees
- 1,196
- Location
- Toledo, OH
- Founding
- 03/1973
- Data as of
- 12/2021
- EIN
- 38-1984289
Organization Overview
Mercy-Memorial Hospital Corporation, operating under the name Promedica Monroe Regional Hospital, is located in Toledo, OH. The organization was established in 1973. 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, Promedica Monroe Regional Hospital employed 1,196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promedica Monroe Regional Hospital 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, Promedica Monroe Regional Hospital generated $158.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $165.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE PROVIDE HIGH QUALITY, COMPREHENSIVE SERVICES TO THE PEOPLE AND COMMUNITY WE SERVE.
Describe the Organization's Program Activity:
MERCY MEMORIAL HOSPITAL CORPORATION IS AN ACUTE CARE FACILITY PROVIDING INPATIENT AND OUTPATIENT HEALTH CARE SERVICES TO THE GENERAL PUBLIC. - SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Schenk Associate Program Director | 40 | $320,935 | |
Penny Merkle Crna Hospital | 40 | $253,303 | |
Erica Sottile Chief Crna | 40 | $225,523 | |
Olga Halstead Crna Hospital | 40 | $211,724 | |
Denise Deppen Crna | 40 | $208,954 | |
Darrin Arquette Pres., Ex Officio | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amn Healthcare Inc Staffing Agency | 12/30/20 | $3,151,029 |
Critical Care Medical Partners Pc Physician Services | 12/30/20 | $431,961 |
Ambulatory Anesthesia Association Physician Services | 12/30/20 | $850,000 |
Medical Solutions Inc Physician Services | 12/30/20 | $419,018 |
Epno - Monroe Pllc Physician Services | 12/30/20 | $1,161,927 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $80,314 |
| Government grants | $1,461,586 |
| All other contributions, gifts, grants, and similar amounts not included above | $72,730 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,614,630 |
| Total Program Service Revenue | $148,855,018 |
| Investment income | $3,571,094 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $186,654 |
| Net Gain/Loss on Asset Sales | $1,479,626 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $50,725 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,446,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300 |
| Grants and other assistance to domestic individuals. | $4,000 |
| 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 | $62,939,604 |
| Pension plan accruals and contributions | $694,131 |
| Other employee benefits | $4,445,421 |
| Payroll taxes | $4,509,774 |
| Fees for services: Management | $3,775 |
| Fees for services: Legal | $368,554 |
| Fees for services: Accounting | $85,299 |
| Fees for services: Lobbying | $6,716 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $432,429 |
| Fees for services: Other | $41,298,249 |
| Advertising and promotion | $511,310 |
| Office expenses | $1,532,947 |
| Information technology | $178,902 |
| Royalties | $0 |
| Occupancy | $3,033,470 |
| Travel | $147,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $265,805 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,859,318 |
| Insurance | $2,269,444 |
| All other expenses | $7,563,823 |
| Total functional expenses | $165,051,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,816,498 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,638,411 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,099,926 |
| Prepaid expenses and deferred charges | $165,529 |
| Net Land, buildings, and equipment | $57,909,653 |
| Investments—publicly traded securities | $149,743,863 |
| Investments—other securities | $693,925 |
| Investments—program-related | $0 |
| Intangible assets | $2,516,917 |
| Other assets | $7,297,414 |
| Total assets | $246,882,136 |
| Accounts payable and accrued expenses | $25,148,826 |
| 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 | $55,200,518 |
| Total liabilities | $80,349,344 |
| Net assets without donor restrictions | $160,671,024 |
| Net assets with donor restrictions | $5,861,768 |
| 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 | $246,882,136 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mercy-Memorial Hospital Corporation has recieved totaling $15,355.
| Awarding Organization | Amount |
|---|---|
United Way Of Monroe-Lenawee Counties Inc Monroe, MI PURPOSE: PUBLIC SUPPORT | $15,350 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $412,158 |
| Earnings | $64,750 |
| Ending Balance | $476,908 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian Medical Center Of The University Of Pennsylvania Health Philadelphia, PA | $864,132,692 | $1,007,924,819 |
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 |
Abington Memorial Hospital Philadelphia, PA | $948,017,930 | $858,404,541 |
Saint Joseph Health System Inc Lexington, KY | $961,743,109 | $864,115,504 |
Covenant Medical Center Inc Saginaw, MI | $1,038,790,282 | $776,913,978 |
Uofl Health-Louisville Inc Louisville, KY | $577,142,236 | $950,019,808 |
Tower Health Reading, PA | $1,567,530,050 | $562,187,138 |
Cabell Huntington Hospital Inc Huntington, WV | $1,087,986,142 | $722,910,695 |
Allegiance Health Jackson, MI | $830,742,312 | $709,583,429 |
Pennsylvania Hospital Of The Univ Of Pennsylvania Health System Philadelphia, PA | $773,767,590 | $678,080,811 |
Indiana University Health Bloomingon Inc Indianapolis, IN | $990,966,337 | $700,343,585 |