Anc Healthcare Inc
- Assets
- $342.4m
- Revenue
- $16.4m
- Investments
- $181.4k
- Employees
- 0
- Location
- Winter Park, FL
- Founding
- 03/1982
- Data as of
- 09/2020
- EIN
- 58-1450888
Organization Overview
Anc Healthcare Inc is located in Winter Park, FL. The organization was established in 1982. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, 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.
For the year ending 09/2020, Anc Healthcare Inc generated $16.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (19.9%) each year. All expenses for the organization totaled $667.8m during the year ending 09/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Anc Healthcare Inc has awarded 60 individual grants totaling $1,507,055,060. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE FORM 990, PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY SOLD THE OPERATING FACILITIES OF THE HEALTH SYSTEM AND A SUBSTANTIAL PORTION OF THE ASSETS, INCLUDING THOSE OF ITS SUBSIDIARIES, IN THE PRIOR YEAR. THE ORGANIZATION CONTINUES TO MAINTAIN OVERSITE OF ITS SUBSIDIARIES DURING THE PROCESS OF LIQUIDATION AND EVENTUAL TERMINATION. CURRENT ACTIVITY INCLUDES WINDING DOWN THE REMAINING AFFAIRS OF THE HEALTH SYSTEM, INCLUDING COLLECTION AND SETTLEMENT OF OUTSTANDING RECEIVABLES AND LIABILITIES, AND DISTRIBUTION OF ASSETS. THE ENTITY IS IN THE PROCESS OF WINDING DOWN FOR EVENTUAL TERMINATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Maher Vice Chair | OfficerTrustee | 2 | $0 |
John W Garrett MD Chair | OfficerTrustee | 2 | $0 |
Neil Luria Ceo/chief Wind-Down Office | Officer | 10 | $0 |
Matthew Rubin Cfo/secretary | Officer | 10 | $0 |
Gregory Hagood Chief Transition Officer | Officer | 2 | $0 |
Meg Finnegan VP Hr | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Solic Capital Advisors Llc Wind Down Consulting | 9/29/20 | $991,666 |
Faegre Drinker Biddle & Reath Llp Legal | 9/29/20 | $723,001 |
Robinson Bradshaw & Hinson Legal | 9/29/20 | $450,512 |
Willis Towers Watson Insurance Consulting | 9/29/20 | $524,091 |
Gibbins Advisors Oversight Consulting | 9/29/20 | $423,899 |
Financial Statements
| 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 | $10,703,057 |
| Investment income | $4,001,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,593,543 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,442,127 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $653,495,811 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,050,000 |
| Fees for services: Legal | $1,473,447 |
| Fees for services: Accounting | $1,374,222 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,434,509 |
| Fees for services: Other | $423,899 |
| Advertising and promotion | $0 |
| Office expenses | $169,366 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,619 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $87,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $826,638 |
| All other expenses | $571,308 |
| Total functional expenses | $667,824,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $329,285,913 |
| Pledges and grants receivable | $41,292 |
| Accounts receivable, net | $399,311 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,583,078 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,554,198 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,476,444 |
| Investments—other securities | $181,392 |
| Investments—program-related | $1,910,694 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $342,432,322 |
| Accounts payable and accrued expenses | $1,007,890 |
| Grants payable | $30,000,000 |
| 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 | $46,661,117 |
| Total liabilities | $77,669,007 |
| Net assets without donor restrictions | $260,087,393 |
| Net assets with donor restrictions | $4,675,922 |
| 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 | $342,432,322 |
Grants Awarded
Over the last fiscal year, Anc Healthcare Inc has awarded $653,495,781 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Asheville, NC PURPOSE: GENERAL PURPOSE | $618,758,322 |
Franklin, NC PURPOSE: GENERAL PURPOSE | $9,737,459 |
Highlands, NC PURPOSE: GENERAL PURPOSE | $5,000,000 |
Arden, NC PURPOSE: GENERAL PURPOSE | $5,000,000 |
Spruce Pine, NC PURPOSE: GENERAL PURPOSE | $5,000,000 |
Brevard, NC PURPOSE: GENERAL PURPOSE | $5,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Anc Healthcare Inc has recieved totaling $424,858.
| Awarding Organization | Amount |
|---|---|
Americares Foundation Inc Stamford, CT PURPOSE: ON-GOING | $365,521 |
The Childrens Hospital Of Philadelphia Philadelphia, PA PURPOSE: RESEARCH | $50,871 |
Pediatric Brain Tumor Foundation Of The United States Inc Asheville, NC PURPOSE: VS. CANCER GRANT | $8,466 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Baptist Health Of South Florida Inc Coral Gables, FL | $6,800,060,279 | $1,294,005,107 |
Anc Healthcare Inc Winter Park, FL | $342,432,322 | $16,442,127 |
Baycare Health Systems Inc Clearwater, FL | $6,226,593,311 | $818,608,318 |
Floyd Healthcare Management Inc Rome, GA | $548,593,704 | $501,302,033 |
Health First Health Plans Inc Rockledge, FL | $174,603,605 | $443,031,050 |
Orlando Health Medical Group Inc Orlando, FL | $56,252,552 | $255,061,880 |
Baptist Health Medical Group Inc Coral Gables, FL | $79,890,511 | $1,053,991,722 |
Gulf Health Hospitals Inc Mobile, AL | $222,273,291 | $261,562,236 |
Health First Shared Services Inc Rockledge, FL | $1,106,623,021 | $279,445,215 |
Northeast Georgia Physicians Group Inc Gainesville, GA | $33,520,552 | $202,961,239 |
Baptist Health System Inc Jacksonville, FL | $385,417,195 | $182,762,120 |
Pasco-Pinellas Hillsborough Community Health System Inc Wesley Chapel, FL | $420,012,464 | $266,376,815 |