Mary Free Bed Sub-Acute Rehabilitation
- Assets
- $13.0m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 05/2015
- Data as of
- 06/2021
- EIN
- 46-3971740
Organization Overview
Mary Free Bed Sub-Acute Rehabilitation is located in Grand Rapids, MI. The organization was established in 2015. According to its NTEE Classification (E91) the organization is classified as: Nursing Facilities, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mary Free Bed Sub-Acute Rehabilitation 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 06/2021, Mary Free Bed Sub-Acute Rehabilitation generated $7.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $9.4m during the year ending 06/2021. While expenses have increased by 12.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MARY FREE BED SUB-ACUTE REHABILITATION PROVIDES SHORT-TERM INPATIENT REHABILITATION THAT IS CUSTOMIZED, COMPREHENSIVE AND COORDINATED TO HELP INDIVIDUALS RECOVER QUICKLY FROM AN ILLNESS, INJURY OR SURGERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REHABILITATION SERVICES WITH 48 BEDS AND 13,628 PATIENT DAYS FOR 2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Johnson Board Chair | OfficerTrustee | 0.4 | $0 |
Ingrid Cheslek COO | Officer | 0.4 | $0 |
Christopher Allman Board Member | Trustee | 0.1 | $0 |
Kiersten Cudney Board Member | Trustee | 0.5 | $0 |
Annmarie Satterlee Board Member | Trustee | 0.5 | $0 |
Nate Guzman Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mary Free Bed Hospital Contract Services | 6/29/18 | $6,932,063 |
Trinity Senior Living Communities Management Fee And Payroll Services | 6/29/18 | $1,352,314 |
Saint Mary's Ltc Pharmacy Pharmacy Services | 6/29/18 | $277,893 |
Mercy Health Saint Mary's Contract Services | 6/29/18 | $133,994 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $177,203 |
| All other contributions, gifts, grants, and similar amounts not included above | $38 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,241 |
| Total Program Service Revenue | $7,547,515 |
| Investment income | $68 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $7,724,866 |
| 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 | $3,194,325 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $802,560 |
| Payroll taxes | $0 |
| Fees for services: Management | $68,525 |
| Fees for services: Legal | $6,180 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $144,000 |
| Fees for services: Other | $2,988,172 |
| Advertising and promotion | $0 |
| Office expenses | $8,498 |
| Information technology | $195,660 |
| Royalties | $0 |
| Occupancy | $115,285 |
| Travel | $55,469 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $760 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $417,888 |
| Insurance | $59,289 |
| All other expenses | $35,457 |
| Total functional expenses | $9,394,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $601 |
| Savings and temporary cash investments | $1,964,884 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,169,227 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,710 |
| Prepaid expenses and deferred charges | $42,299 |
| Net Land, buildings, and equipment | $9,089,577 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $720,000 |
| Total assets | $13,012,298 |
| Accounts payable and accrued expenses | $2,401,650 |
| Grants payable | $0 |
| Deferred revenue | $45,998 |
| 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 | $2,447,648 |
| Net assets without donor restrictions | $10,564,650 |
| 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 | $13,012,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |
Michigan Christian Home Grand Rapids, MI | $105,314,138 | $18,661,362 |
Oakwood Village University Woods Homes Inc Madison, WI | $65,944,381 | $14,695,232 |
West Side Deutscher Frauen Verein Strongsville, OH | $52,788,164 | $24,260,766 |
Presbyterian Village East Chesterfield Twp, MI | $23,144,610 | $18,364,022 |
Methodist Manor Health Center Inc West Allis, WI | $6,950,058 | $15,339,815 |
Brethren Care Inc Ashland, OH | $33,039,248 | $18,821,544 |
Visiting Nurse And Hospice Home Inc Fort Wayne, IN | $27,656,641 | $21,519,999 |
Mcv Health Care Facilities Inc Cincinnati, OH | $23,364,153 | $19,035,852 |
Assumption Village North Lima, OH | $8,870,048 | $14,570,063 |
St Clair Darden Health System Inc South Bend, IN | $21,453,139 | $17,018,170 |