West Virginia University Medical Corporation
- Assets
- $234.7m
- Revenue
- $655.4m
- Investments
- $0.0
- Employees
- 3,438
- Location
- Morgantown, WV
- Founding
- 05/1973
- Data as of
- 12/2021
- EIN
- 55-0492006
Organization Overview
West Virginia University Medical Corporation, operating under the name University Health Associates, is located in Morgantown, WV. The organization was established in 1973. 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 12/2022, University Health Associates employed 3,438 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Health Associates 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, University Health Associates generated $655.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $644.9m during the year ending 12/2021. While expenses have increased by 13.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE WEST VIRGINIA UNIVERSITY SCHOOL OF MEDICINE IN THE FURTHERANCE OF ITS CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SUPPORTED FACULTY PHYSICIANS OF THE WEST VIRGINIA SCHOOL OF MEDICINE IN THEIR PROVISION OF MEDICAL SERVICES WITH APPROXIMATELY 1,762,038 CLINIC VISITS DURING 2022. THE CORPORATION CONTINUOUSLY MEETS ITS EXEMPT PURPOSE BY PROVIDING FUNDS TO THE STATE-SUPPORTED WEST VIRGINIA UNIVERSITY SCHOOL OF MEDICINE. BY PROVIDING THESE FUNDS, THE CORPORATION HAS BOTH LESSENED THE BURDENS TO GOVERNMENT AND ADVANCED GRADUATE MEDICAL EDUCATION IN WEST VIRGINIA. AS PART OF ITS MISSION TO SUPPORT THE SCHOOL OF MEDICINE, THE CORPORATION INCURRED EXPENDITURES FOR PROFESSIONAL LIABILITY PREMIUMS ON BEHALF OF THE FACULTY PHYSICIANS OF THE SCHOOL OF MEDICINE. THE CORPORATION HAS ALSO LESSENED THE BURDENS ON GOVERNMENT BY RELIEVING POVERTY IN WEST VIRGINIA BY SUPPORTING THE FACULTY PHYSICIANS IN THEIR PROVISION OF CHARITY CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vinay Badhwar MD Executive Chair Heart Vascular Institute | Officer | 40 | $2,495,195 |
Ali Rezai MD Physician | 40 | $2,271,111 | |
Christopher Mascio MD Physician | 40 | $1,887,766 | |
Jondavid Pollock MD Physician | 40 | $1,549,651 | |
Lawrence Wei MD Physician | 40 | $1,389,492 | |
Robert Marsh MD PHD Physician | 40 | $1,161,260 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Weatherby Locums Inc Healthcare Staffing Services | 12/30/22 | $994,758 |
Locumtenenscom Llc Healthcare Staffing Services | 12/30/22 | $585,480 |
David Skoner Physician Services | 12/30/22 | $393,988 |
Chg Companies Inc Healthcare Staffing Services | 12/30/22 | $337,542 |
Fusion Healthcare Staffing Llc Physician Services | 12/30/22 | $217,449 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $4,771,990 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $19,470 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,420,491 |
| 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. | $10,262,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $428,232,783 |
| Pension plan accruals and contributions | $18,297,066 |
| Other employee benefits | $32,020,836 |
| Payroll taxes | $16,018,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,886 |
| Fees for services: Accounting | $107,207 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,069,104 |
| Advertising and promotion | $270,982 |
| Office expenses | $4,915,886 |
| Information technology | $415,159 |
| Royalties | $0 |
| Occupancy | $6,407,641 |
| Travel | $860,820 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,153,169 |
| Interest | $391,052 |
| Payments to affiliates | $23,130,959 |
| Depreciation, depletion, and amortization | $6,660,837 |
| Insurance | $10,244,276 |
| All other expenses | $0 |
| Total functional expenses | $644,938,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,329 |
| Savings and temporary cash investments | $20,579,165 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,770,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,150,353 |
| Investments—publicly traded securities | $68,079,906 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,581,941 |
| Total assets | $234,685,147 |
| Accounts payable and accrued expenses | $66,792,686 |
| Grants payable | $0 |
| Deferred revenue | $3,910,719 |
| Tax-exempt bond liabilities | $225,664 |
| 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 | $58,028,707 |
| Total liabilities | $128,957,776 |
| Net assets without donor restrictions | $105,727,371 |
| 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 |
| Total liabilities and net assets/fund balances | $105,727,371 |
Grants Awarded
Over the last fiscal year, West Virginia University Medical Corporation has awarded $33,646,858 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WEST VIRGINIA UNIVERSITY PURPOSE: Support | $33,641,858 |
APPALACHIAN REGIONAL HEALTHCARE PURPOSE: Support | $5,000 |