Verity Health System Of California Inc
- Assets
- $1.2m
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Woodland Hills, CA
- Founding
- 07/2015
- Data as of
- 06/2022
- EIN
- 91-2154438
Organization Overview
Verity Health System Of California Inc is located in Woodland Hills, CA. The organization was established in 2015. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Verity Health System Of California Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ST. VINCENT MEDICAL CENTER WAS A 366-BED, SHORT-TERM ACUTE CARE, GENERAL HOSPITAL. IN JANUARY 2020, ST. VINCENT MEDICAL CENTER STOPPED HOSPITAL OPERATIONS AND CLOSED. THE ASSETS OF ST. VINCENT MEDICAL CENTER WERE SOLD TO DR. PATRICK SOON-SHIONG ON APRIL 16, 2020.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ST. VINCENT MEDICAL CENTER CEASED HOSPITAL OPERATIONS IN JANUARY 2020. THE ASSETS OF ST. VINCENT MEDICAL CENTER WERE SOLD TO DR. PATRICK SOON-SHIONG ON APRIL 16, 2020. ST. VINCENT MEDICAL CENTER DID NOT OPERATE THE HOSPITAL AT ANY TIME DURING FISCAL YEARS 2020 AND 2021. THE ENTITIY IS IN THE PROCESS OF WINDING DOWN AND DISSOLVING.
ON AUGUST 31, 2018, VERITY HEALTH SYSTEMS AND 16 OF ITS AFFILIATED COMPANIES, INCLUDING ST. VINCENT MEDICAL CENTER, EACH FILED VOLUNTARY PETITIONS FOR RELIEF UNDER CHAPTER 11 OF THE UNITED STATES BANKRUPTCY CODE. THE BANKRUPTCY CASES ARE JOINTLY ADMINISTERED UNDER CASE NO. 18-20151 IN THE UNITED STATES BANKRUPTCY COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA. ON SEPTEMBER 4, 2020, THE EFFECTIVE DATE OF THE PLAN OF LIQUIDATION OCCURRED AND THE PLAN WAS CONSUMMATED. ALL CONDITIONS PRECEDENT TO THE EFFECTIVE DATE OF THE PLAN SET FORTH IN SECTION 12.2 OF THE PLAN HAVE EITHER BEEN SATISFIED OR WAIVED IN ACCORDANCE WITH THE PLAN AND THE CONFIRMATION ORDER. COURT FILINGS ARE AVAILABLE AT KCCLLC.NET/VERITYHEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Belmont Secretary (thru 04/2021) | OfficerTrustee | 1 | $0 |
Andrew Pines Chair (thru 04/2021) | OfficerTrustee | 1 | $0 |
Howard Grobstein Liquidating Trustee (beg 09/2020) | OfficerTrustee | 1 | $0 |
Jack Krouskup Board Member (thru 04/2021) | Trustee | 1 | $0 |
Christobel Selecky Board Member (thru 09/2020) | Trustee | 1 | $0 |
Ty Conner Director (thru 04/2021) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shiftwise Registry Nursing | 6/29/21 | $662,192 |
Eurofins Vrl Los Angeles Llc Medical Services | 6/29/21 | $363,985 |
Gch Medical Group Inc Medical Services | 6/29/21 | $218,000 |
Rehabcare Group Of California Llc Purchased Services | 6/29/21 | $354,868 |
Axiom Anesthesia Group Inc Medical Services | 6/29/21 | $251,667 |
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 | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $0 |
| 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. | $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 | $0 |
| 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 | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,242,140 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,242,140 |
| 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 | $0 |
| Net assets with donor restrictions | $1,242,140 |
| 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 | $1,242,140 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Verity Health System Of California Inc has recieved totaling $1,039,708.
| Awarding Organization | Amount |
|---|---|
Queenscare Los Angeles, CA PURPOSE: To fund emergency room services provided to uninsured patients residing in Los Angeles. | $519,854 |
Queenscare Los Angeles, CA PURPOSE: To fund emergency room services provided to uninsured patients residing in Los Angeles. | $519,854 |
Endowment Analysis
| Beg. Balance | $2,704,921 |
| Other Expense | $1,462,781 |
| Ending Balance | $1,242,140 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ajo Community Health Center Ajo, AZ | $9,609,061 | $7,787,948 |
Vitalyst Health Foundation Phoenix, AZ | $145,402,177 | $11,995,078 |
Northbay Health Advantage Fairfield, CA | $93,273,302 | $3,699,610 |
Healthier Kids Foundation Santa Clara County San Jose, CA | $5,503,217 | $5,858,092 |
California Association Of Health Plans Sacramento, CA | $5,888,259 | $4,729,386 |
Foundation Accountable Care Network Riverside, CA | $0 | $4,548,348 |
Community Health Centers Of America Modesto, CA | $1,382,171 | $2,841,901 |
Community Partnership Of Southern Arizona Cpsa Inc Tucson, AZ | $17,527,238 | $3,138,259 |
Healthcare Association Of Hawaii Honolulu, HI | $6,063,425 | $3,208,043 |
Arizona Health Care Association Phoenix, AZ | $2,354,303 | $2,741,975 |
Verity Health System Of California Inc Woodland Hills, CA | $0 | $0 |
California Healthcare Performance Information System San Francisco, CA | $366,882 | $2,135,158 |