Homestead Hospital Inc
- Assets
- $104.2m
- Revenue
- $425.6m
- Investments
- $0.0
- Employees
- 1,609
- Location
- Homestead, FL
- Founding
- 05/1991
- Data as of
- 09/2022
- EIN
- 65-0232993
Organization Overview
Homestead Hospital Inc is located in Homestead, FL. The organization was established in 1991. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Homestead Hospital Inc employed 1,609 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead Hospital Inc 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 09/2022, Homestead Hospital Inc generated $425.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $451.7m during the year ending 09/2022. While expenses have increased by 2.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
South Dade Medical Group Llp Physician Services | 9/29/23 | $4,973,073 |
Aya Healthcare Inc Contract Labor | 9/29/23 | $10,291,115 |
Greater Miami Anesthesia Services Pa Physician Services | 9/29/23 | $4,527,385 |
Management Health System Llc Software Support | 9/29/23 | $2,997,209 |
Nuwest Group Holdings Llc Contract Labor | 9/29/23 | $2,567,890 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $587,996 |
| Government grants | $1,081,037 |
| 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 | $1,669,033 |
| Total Program Service Revenue | $421,650,092 |
| Investment income | $126,003 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,020 |
| Net Gain/Loss on Asset Sales | $51,332 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $425,552,270 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,360 |
| 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. | $695,964 |
| Compensation of current officers, directors, key employees. | $695,964 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $101,440,590 |
| Pension plan accruals and contributions | $4,671,687 |
| Other employee benefits | $11,795,231 |
| Payroll taxes | $7,289,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $745,008 |
| 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 | $67,020,769 |
| Advertising and promotion | $3,256,660 |
| Office expenses | $7,935,218 |
| Information technology | $24,338,227 |
| Royalties | $0 |
| Occupancy | $4,349,119 |
| Travel | $49,493 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,224 |
| Interest | $3,980,561 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,459,525 |
| Insurance | $8,450,892 |
| All other expenses | $13,166,623 |
| Total functional expenses | $451,662,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,710 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,877,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,155,207 |
| Prepaid expenses and deferred charges | $717,198 |
| Net Land, buildings, and equipment | $39,225,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,261,152 |
| Total assets | $104,241,620 |
| Accounts payable and accrued expenses | $30,788,209 |
| Grants payable | $0 |
| Deferred revenue | $202,487 |
| Tax-exempt bond liabilities | $104,013,885 |
| 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 | $499,963,764 |
| Total liabilities | $634,968,345 |
| Net assets without donor restrictions | -$537,256,082 |
| Net assets with donor restrictions | $6,529,357 |
| 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 | $104,241,620 |