Adventist Health System Sunbelt Healthcare Corporation
- Assets
- $8.3b
- Revenue
- $1.3b
- Investments
- $7.0b
- Employees
- 4,940
- Location
- Altamonte Springs, FL
- Founding
- 04/1947
- Data as of
- 12/2019
- EIN
- 59-2170012
Organization Overview
Adventist Health System Sunbelt Healthcare Corporation is located in Altamonte Springs, FL. The organization was established in 1947. 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 12/2019, Adventist Health System Sunbelt Healthcare Corporation employed 4,940 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes.
For the year ending 12/2019, Adventist Health System Sunbelt Healthcare Corporation generated $1.3b in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $1.3b during the year ending 12/2019. While expenses have increased by 23.1% per year over the past 5 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 2014, Adventist Health System Sunbelt Healthcare Corporation has awarded 226 individual grants totaling $55,212,723. 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
PROVISION OF EXECUTIVE LEADERSHIP AND OTHER PROFESSIONAL SUPPORT SERVICES TO SUBSIDIARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2019, THE CORPORATION PROVIDED HOSPITAL MANAGEMENT SERVICES TO 27 WHOLLY OR PARTIALLY OWNED TAX-EXEMPT HOSPITAL AND NURSING HOME CORPORATIONS. THESE 27 CORPORATIONS OPERATE 47 ACUTE-CARE HOSPITALS, AND PROVIDE MANAGEMENT SERVICES TO 12 NURSING HOME FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shaw Terry D Dir/president/ceo | OfficerTrustee | 50 | $4,276,521 |
Haffner PHD Randall L Dir/sevp/ceo Multi-State Division | Trustee | 50 | $2,740,749 |
Houmann Lars D Dir/corp Relations Offcr (end 12/19) | Trustee | 50 | $2,609,062 |
Schultz Michael Dir/sevp/ceo West Fl Division | Trustee | 50 | $1,857,887 |
Tol Daryl Dir/sevp/ceo Central Fl Division | Trustee | 50 | $1,857,791 |
Rathbun Paul C Director/sevp/cfo | OfficerTrustee | 50 | $1,594,684 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
22squared Inc Advertising Services | 12/30/19 | $46,058,544 |
Cerner Corporation It Services/support Fees | 12/30/19 | $48,061,266 |
Athenahealth Inc Medical Records & Billing Services | 12/30/19 | $31,690,191 |
Cdw Llc It Services/support Fees | 12/30/19 | $15,429,204 |
Advanced Icu Care Inc Consulting Services | 12/30/19 | $6,742,280 |
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 | $170,800 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,800 |
| Total Program Service Revenue | $967,007,110 |
| Investment income | $228,890,647 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,128,853 |
| Net Gain/Loss on Asset Sales | $90,665,918 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,287,863,328 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,117,951 |
| Grants and other assistance to domestic individuals. | $72,686 |
| Grants and other assistance to Foreign Orgs/Individuals | $190,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $23,477,486 |
| Compensation of current officers, directors, key employees. | $23,477,486 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $376,510,963 |
| Pension plan accruals and contributions | $27,472,976 |
| Other employee benefits | $110,586,119 |
| Payroll taxes | $29,910,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,551,834 |
| Fees for services: Accounting | $2,298,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,512,391 |
| Fees for services: Other | $130,179,524 |
| Advertising and promotion | $49,691,519 |
| Office expenses | $14,680,632 |
| Information technology | $96,283,380 |
| Royalties | $0 |
| Occupancy | $2,627,609 |
| Travel | $8,962,405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,256,155 |
| Interest | $168,867,283 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,024,391 |
| Insurance | $16,738,863 |
| All other expenses | $21,352,237 |
| Total functional expenses | $1,329,063,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,499 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,325,520 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,940,868 |
| Prepaid expenses and deferred charges | $44,910,334 |
| Net Land, buildings, and equipment | $402,318,908 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,022,070,300 |
| Investments—program-related | $9,222,446 |
| Intangible assets | $15,322,000 |
| Other assets | $759,114,163 |
| Total assets | $8,270,226,038 |
| Accounts payable and accrued expenses | $496,593,965 |
| 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 | $7,100,225,323 |
| Total liabilities | $7,596,819,288 |
| Net assets without donor restrictions | $673,406,750 |
| 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 | $8,270,226,038 |
Grants Awarded
Over the last fiscal year, Adventist Health System Sunbelt Healthcare Corporation has awarded $12,102,754 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
Altamonte Springs, FL PURPOSE: CREATION Health Patient Care Project | $2,454,187 |
Collegedale, TN PURPOSE: General Support | $1,452,243 |
Berrien Springs, MI PURPOSE: General Support | $1,329,977 |
Keene, TX PURPOSE: General Support | $1,205,399 |
Lincoln, NE PURPOSE: General Support | $1,204,448 |
Huntsville, AL PURPOSE: General Support | $1,160,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Adventist Health System Sunbelt Healthcare Corporation has recieved totaling $24,890.
| Awarding Organization | Amount |
|---|---|
Adventist Healthcare Inc Gaithersburg, MD PURPOSE: PROVIDED DONATIONS TOWARDS THE NORTH AMERICAN DIVISION OF SEVENTH-DAY ADVENTIST (NAD) HEALTHCARE WALL, TO HIGHLIGHT THE HISTORY AND DEVELOPMENT OF ALL THE 5 ADVENTIST HEALTH SYSTEMS IN NORTH AMERICA BECAUSE THE HEALTH MINISTRY IS A MAJOR CORNERSTONE IN THE DEVELOPMENT OF THE ADVENTIST CHURCH. | $24,890 |
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 |