Liability Insurance Trust For Monongalia Health System Inc And M is located in Morgantown, WV. The organization was established in 1989. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Liability Insurance Trust For Monongalia Health System Inc And M 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, Liability Insurance Trust For Monongalia Health System Inc And M generated $523.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $396.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (18.8%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PAYMENT OF LIABILITY CLAIMS AND COSTS ASSOCIATED WITH THE OPERATIONS OF THE RISK MANAGEMENT DIVISION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENT OF LIABILITY CLAIMS AND COSTS ASSOCIATED WITH THE OPERATION OF THE RISK MANAGEMENT DIVISION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Name Not Listed Trustee | 1 | $23,779 | |
David Goldberg President/ceo | OfficerTrustee | 1 | $0 |
Lisa Simon CPA VP Finance/cfo | Officer | 1 | $0 |
Daris Rosencrance Former VP Finance/cfo | 0 | $0 | |
Darryl Duncan Former President/ceo | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $372,490 |
Investment income | $142,030 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $9,296 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $523,816 |
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. | $23,779 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $259,412 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $91,267 |
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 | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $21,812 |
Total functional expenses | $396,270 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $174,321 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $5,615,325 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $5,789,646 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $5,789,646 |
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 | $5,789,646 |
Organization Name | Assets | Revenue |
---|---|---|
Upmc Lititz Harrisburg, PA | $81,864,299 | $83,139,500 |
Bon Secours - St Francis Medical Center Inc Center Inc Richmond, VA | $0 | $100,867,544 |
Harford Memorial Hospital Inc Havre De Grace, MD | $204,952,590 | $97,757,591 |
Jeanes Hospital Philadelphia, PA | $0 | $90,864,313 |
Lehigh Valley Hospital - Coordinated Health Allentown Allentown, PA | $172,900,540 | $112,544,100 |
Halifax Regional Hospital Inc Norfolk, VA | $49,612,708 | $85,918,796 |
Bay Park Community Hospital Toledo, OH | $58,778,879 | $103,810,079 |
Shore Health Services Inc Newport News, VA | $73,414,092 | $98,574,947 |
Joint Township District Memorial Hospital St Marys, OH | $81,862,337 | $95,172,211 |
Blue Mountain Hospital Allentown, PA | $0 | $78,395,652 |
Southside Community Hospital Inc Farmville, VA | $139,378,592 | $111,131,365 |
St Agnes Continuing Care Center Newtown Square, PA | $67,369,995 | $92,613,131 |