Bon Secours Richmond Health System
- Assets
- $2.7b
- Revenue
- $1.9b
- Investments
- $75.6k
- Employees
- 2,990
- Location
- Richmond, VA
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 52-1988421
Organization Overview
Bon Secours Richmond Health System, operating under the name Bon Secours Virginia Bon Secours Virginia Health System, is located in Richmond, VA. The organization was established in 2017. 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 12/2021, Bon Secours Virginia Bon Secours Virginia Health System employed 2,990 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bon Secours Virginia Bon Secours Virginia Health System 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, Bon Secours Virginia Bon Secours Virginia Health System generated $1.9b in total revenue. All expenses for the organization totaled $1.6b during the year ending 12/2021. While expenses have increased by 71.0% per year over the past 7 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.
Since 2018, Bon Secours Virginia Bon Secours Virginia Health System has awarded 103 individual grants totaling $8,786,492. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BON SECOURS-RICHMOND HEALTH SYSTEM EXTENDS THE HEALING MINISTRY OF JESUS BY IMPROVING THE HEALTH AND WELL-BEING OF OUR COMMUNITIES AND BRING GOOD HELP TO THOSE IN NEED, ESPECIALLY PEOPLE WHO ARE POOR, DYING AND UNDERSERVED. BON SECOURS-RICHMOND HEALTH SYSTEM DEMONSTRATES BEHAVIORS REFLECTING OUR CORE VALUES OF HUMAN DIGNITY, INTEGRITY, COMPASSION, STEWARDSHIP, AND SERVICE.
Describe the Organization's Program Activity:
BON SECOURS-RICHMOND HEALTH SYSTEM IS A MISSION-DRIVEN, NONPROFIT, CATHOLIC HEALTH SYSTEM. BON SECOURS-RICHMOND HEALTH SYSTEM OPERATES ACUTE CARE HOSPITALS, HOME HEALTH AGENCIES, AMBULATORY AGENCIES, AND OTHER HEALTHCARE ORGANIZATIONS. BON SECOURS-RICHMOND HEALTH SYSTEM SUPPORTS ITS SUBSIDIARY MEMBERS IN THEIR EFFORT TO PROVIDE COMPASSIONATE, QUALITY HEALTHCARE SERVICES TO THOSE IN NEED, INCLUDING THE POOR AND DYING, FOR THE PURPOSE OF ALLEVIATING HUMAN SUFFERING AND BRINGING PEOPLE TO WHOLENESS IN THE MIDST OF PAIN AND LOSS.
THE FIVE HOSPITALS INCLUDED ON THIS RETURN EXTEND THE HEALING MINISTRY OF JESUS BY IMPROVING THE HEALTH AND WELL-BEING OF OUR COMMUNITIES AND BRINGING GOOD HELP TO THOSE IN NEEED, ESPECIALLY PEOPLE WHO ARE POOR, DYING AND UNDERSERVED. THIS IS ACCOMPLISHED BY DEMONSTRATING BEHAVIORS REFLECTING OUR CORE VALUES OF HUMAN DIGNITY, INTEGRITY, COMPASSION, STEWARDSHIP, AND SERVICE. TOTAL COMMUNITY BENEFIT PROVIDED IN 2021 WAS $64,149,084.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Chief Nursing Executive - Richmond | 50 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Simione Healthcare Consultants Consulting | 8/30/19 | $415,941 |
Blacktree Healthcare Consulting Consulting | 8/30/19 | $1,233,919 |
Shiftwise Us Bank Corporate Trust Contract Labor | 8/30/19 | $310,559 |
Pps Plus Software Coding Review | 8/30/19 | $282,336 |
Dispatch Health Contract Labor | 8/30/19 | $400,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,947,757 |
| Government grants | $14,797,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,347,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,093,116 |
| Total Program Service Revenue | $1,856,180,795 |
| Investment income | $32,919,335 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,583,559 |
| Net Gain/Loss on Asset Sales | $478,418 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,921,616,534 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,921,447 |
| Grants and other assistance to domestic individuals. | $51,170 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,603,416 |
| Compensation of current officers, directors, key employees. | $160,342 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $406,551,090 |
| Pension plan accruals and contributions | $2,269,759 |
| Other employee benefits | $85,558,141 |
| Payroll taxes | $28,011,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $103,703 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $59,786 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $558,451,991 |
| Advertising and promotion | $175,333 |
| Office expenses | $6,923,260 |
| Information technology | $7,466,699 |
| Royalties | $0 |
| Occupancy | $28,199,908 |
| Travel | $1,959,234 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,661 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,194,022 |
| Insurance | $5,864,306 |
| All other expenses | $2,230,104 |
| Total functional expenses | $1,614,896,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,500,607,522 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,988,919 |
| Prepaid expenses and deferred charges | $4,757,216 |
| Net Land, buildings, and equipment | $450,628,327 |
| Investments—publicly traded securities | $629,486,474 |
| Investments—other securities | $75,609 |
| Investments—program-related | $926,131 |
| Intangible assets | $338,840 |
| Other assets | $43,893,607 |
| Total assets | $2,696,702,645 |
| Accounts payable and accrued expenses | $166,458,406 |
| Grants payable | $0 |
| Deferred revenue | $12,458,345 |
| 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 | $399,873,181 |
| Total liabilities | $578,789,932 |
| Net assets without donor restrictions | $2,117,792,713 |
| Net assets with donor restrictions | $120,000 |
| 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 | $2,696,702,645 |
Grants Awarded
Over the last fiscal year, Bon Secours Richmond Health System has awarded $3,863,447 in support to 59 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: MISSION SUPPORT | $451,000 |
Alexandria, VA PURPOSE: MISSION SUPPORT | $323,000 |
Richmond, VA PURPOSE: MISSION SUPPORT | $260,000 |
Richmond, VA PURPOSE: MISSION SUPPORT | $125,000 |
Richmond, VA PURPOSE: MISSION SUPPORT | $125,000 |
Richmond, VA PURPOSE: MISSION SUPPORT | $115,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bon Secours Richmond Health System has recieved totaling $4,947,757.
| Awarding Organization | Amount |
|---|---|
Bon Secours Mercy Health Foundation Cincinnati, OH PURPOSE: Capital and program support | $4,947,757 |
Endowment Analysis
| Beg. Balance | $120,000 |
| Ending Balance | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hh Medstar Health Inc Columbia, MD | $303,491,180 | $865,504,764 |
Appalachian Regional Healthcare Inc Lexington, KY | $1,267,201,787 | $817,287,479 |
Memorial Health Care System Inc Chattanooga, TN | $833,500,042 | $655,181,018 |
Wellmont Health System Johnson City, TN | $425,394,041 | $662,198,822 |
Virginia Hospital Center Arlington Health System Arlington, VA | $1,877,524,577 | $673,514,509 |
West Virginia University Medical Corporation Morgantown, WV | $212,648,584 | $571,153,959 |
Owensboro Health Regional Hospital Owensboro, KY | $1,685,340,581 | $709,904,993 |
The Johns Hopkins Health System Corporation Baltimore, MD | $2,298,014,981 | $561,406,992 |
Norton Healthcare Inc Louisville, KY | $2,709,209,349 | $492,316,959 |
Carilion Services Inc Roanoke, VA | $938,637,589 | $302,052,496 |
Baptist Patient Safety System Inc Memphis, TN | $1,693,307,701 | $249,640,612 |
West Virginia United Health System Inc Morgantown, WV | $316,093,597 | $251,827,259 |