Penobscot Bay Medical Center

EIN: 010285286 501(c)(3)

Belfast, ME

Total Revenue
$35,642,137
Total Expenses
$34,184,402
Total Assets
N/A
Net Assets
N/A
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
ME
Principal Officer
Mark Fourre MD
Phone
2075054378
Tax Period
2018-10-01 to 2019-01-01

Penobscot Bay Medical Center, founded in 1969, is a mid-sized nonprofit that reported $35.6M in total revenue in fiscal year 2018. Revenue fell 73% from the prior year — a significant decline worth monitoring. Expenses of $34.2M left a modest 4% surplus.

Mission

Penobscot Bay Medical Center (PBMC) is an acute care hospital that offers inpatient and outpatient care, diagnostic, therapeutic and rehabilitative services, patient and community education, and a full range of specialty services through the emergency department, special care unit, surgical services department, obstetrics and gynecology department, and the psychiatric addiction & recovery center.

Program Service Accomplishments

Program 1
Expenses: $27,629,911 Revenue: $29,946,869

Inpatient & Outpatient Hospital Care: Penobscot Bay Medical Center (PBMC) provides quality medical care regardless of race, creed, sex, national origin, handicap or ability to pay. Although...

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Inpatient & Outpatient Hospital Care: Penobscot Bay Medical Center (PBMC) provides quality medical care regardless of race, creed, sex, national origin, handicap or ability to pay. Although reimbursement for services rendered is critical to the operation and stability of PBMC, not all individuals possess the ability to purchase essential medical services. Our mission is to serve the community by providing health care services and health care education. In keeping with this hospital's commitment to serve all members of its community, we provide free care and subsidized care to persons covered by governmental programs below cost, and health activities and programs for the community. (Continued at Schedule O)(Continued from Part III, Line 4a)PBMC served 881 inpatients, including newborns and 47,343 outpatients including ER visits, during the short period. Twenty-four-hour medical emergency service is provided in the Emergency Room, staffed by full-time attending physicians. Patients are seen regardless of ability to pay. There were 4,654 visits to the Emergency Room during the short period. Recognizing its mission to the community, services are provided to both Medicare & MaineCare patients. To the extent reimbursement is below cost, PBMC recognizes these amounts as contractual adjustments. For the short period, the amount of unreimbursed costs reported as contractual adjustments totaled $43,255,621. During the short period, approximately 65% of services were to patients covered by these governmental programs. Additionally, PBMC provided $1,963,771 in free care to patients not covered by governmental programs. PBMC provides free conference room and meeting space for a variety of health related groups including Alcoholics Anonymous, Al Anon, Midcoast Cancer Support Group, Heart to Heart, Cardiac Spouse Support Group, Crohn's Disease Support Group, Visually Impaired and Blind Support Group, Pediatric Asthma Support Group, Ostomy Group, Midcoast Mastectomy Support Group, Northeast Health Consortium for Integrated Care, Breast Cancer Intervention Project, Mid-Coast Coalition for Domestic Abuse, Teen parenting, Women's and Children's Community Care Project. Assistance is provided to educators through our work with medical students, student nurses, physical therapy interns, emergency medical technicians, medical records and social service students.Through an arrangement with the University of Maine - Orono, our Education and Training department offers nurses with certificate degrees the opportunity to work toward a baccalaureate degree in the local area. The hospital maintains a research library which is open twenty-four-hours a day and available to the general public. During the short period, the community contributed approximately 1,533 hours toward the common purpose of servicing the health care needs of the community. The value of this contribution is given back to the community through lower costs in both patient services and other wellness programs such as those described above.

Program 2
Expenses: $3,341,874 Revenue: $3,622,113

Physician Practices: Pen Bay Physician and Associates, a group of departments of PBMC, is composed of 18 practices covering many specialities.

Program 3
Expenses: $1,684,033 Revenue: $1,825,251

The Knox Center for Long Term Care is an 84-bed long-term nursing care and skilled rehabilitation center. Since 1975, The Knox Center for Long Term Care has been caring for members of mid-coast...

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The Knox Center for Long Term Care is an 84-bed long-term nursing care and skilled rehabilitation center. Since 1975, The Knox Center for Long Term Care has been caring for members of mid-coast families and providing them with a loving home where they receive both the sophisticated technical care they require and the dignity and respect they deserve.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $46,068
Program Service Revenue $32,774,473
Investment Income $23,770
Other Revenue $2,797,826
TOTAL REVENUE $35,642,137

Expense Breakdown

Grants Paid $0
Salaries & Benefits $16,556,637
Fundraising Expenses $0
Program Expenses $32,655,818
Other Expenses $17,627,765
TOTAL EXPENSES $34,184,402

Year-over-Year Comparison

2018 2017 Change
Revenue $35,642,137 $130,517,903 -0.7%
Expenses $34,184,402 $129,087,593 -0.7%
Net Income $1,457,735 $1,430,310 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
20
Independent Members
15
Employees
1312
Volunteers
89

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$846,421
Total Directors
20
$1,673,878
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ann Hooper Trustee 1.00
Director
$0 $0 $0
Catherine Reynolds Trustee 1.00
Director
$0 $0 $0
Cornelius Yetman DO Trustee 1.00
Director
$0 $41,396 $376,356
Dale Kuhnert Trustee 1.00
Director
$0 $0 $0
Deborah Peabody MD Trustee 1.00
Director
$0 $27,611 $145,112
Elizabeth Connelly DO Medical Staff President - WCGH 1.00
Director
$0 $35,537 $495,943
Gregory Dufour Trustee 1.00
Director
$0 $0 $0
James C Delehanty MD Trustee 1.00
Director
$0 $0 $0
JB Turner Trustee 1.00
Director
$0 $0 $0
Jennifer McKenna MD Trustee 1.00
Director
$0 $31,531 $342,400
Joanne Billington Trustee 1.00
Director
$0 $0 $0
Lee Webb Trustee 1.00
Director
$0 $0 $0
Paul Klainer MD Trustee 1.00
Director
$0 $0 $0
Stephanie Lash MD Medical Staff President - PBMC 1.00
Director
$0 $26,532 $314,067
Syrena Gatewood Trustee 1.00
Director
$0 $0 $0
William Lambie MD Trustee 1.00
Director
$0 $0 $0
Lee Woodward Jr President 1.00
Officer Director
$0 $0 $0
Carole Brand Vice President 1.00
Officer Director
$0 $0 $0
Stephen Hanscom Secretary 1.00
Officer Director
$0 $0 $0
David Flanagan Treasurer 1.00
Officer Director
$0 $0 $0
Mark Fourre MD CEO 50.00
Officer
$461,980 $33,173 $495,153
Linda Drinkwater CFO 0.00
Officer
$0 $35,266 $351,268
Christopher Michalakes MD ED Medical Director 50.00
Highest
$263,783 $45,640 $309,423
John Nicolet MD ED Physician 50.00
Highest
$319,328 $38,148 $357,476
Mark McAllister MD ED Physician 50.00
Highest
$288,687 $38,998 $327,685
Mark Eggena MD Physician 50.00
Highest
$320,873 $42,609 $363,482
Comfort Hines MD ED Physician 50.00
Highest
$277,034 $31,084 $308,118
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2019 $35,642,137 $34,184,402 No data $1,457,735
2018 $130,517,903 $129,087,593 $120,617,755 $1,430,310
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