Reid Physician Associates Inc

EIN: 263086555 501(c)(3) Health Care

RICHMOND, IN

Total Revenue
$103,169,502
Total Expenses
$161,548,386
Total Assets
$14,859,547
Net Assets
$-658,885,568
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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
IN
Phone
7659833000
Tax Period
2023-01-01 to 2023-12-31

Reid Physician Associates Inc, founded in 2008, is a major nonprofit in the Health Care sector that reported $103.2M in total revenue in fiscal year 2023. Expenses of $161.5M exceeded revenue, resulting in a 57% operating deficit.

Mission

THE MISSION OF REID PHYSICIAN ASSOCIATES, INC. IS TO EMPLOY PHYSICIANS AND HEALTH PROFESSIONALS WHO PROMOTE COMMUNITY HEALTH THROUGH EDUCATION, PREVENTION OF ILLNESS AND INJURY, AND THE PROVISION OF QUALITY, COST EFFECTIVE MEDICAL SERVICES TO THE PUBLIC WE SERVE. THIS MISSION IS ACCOMPLISHED THROUGH 1) THE EMPLOYMENT AND RETENTION OF PHYSICIANS, MID-LEVEL PROVIDERS, AND PHYSICIAN STAFF TO ADVANCE ITS PRIMARY PURPOSE OF PROMOTING COMMUNITY HEALTH; AND 2) COMMUNITY HEALTH EDUCATION AND OUTREACH PROGRAMS FOR PATIENTS AND COMMUNITY MEMBERS, PREVENTION OF ILLNESS AND INJURY, AND PROVISION AND EXPANSION OF MEDICAL SERVICES FOR THE PUBLIC IN A MULTI-COUNTY SERVICE AREA.

Program Service Accomplishments

Program 1
Expenses: $27,141,356 Revenue: $97,893,076

IN KEEPING WITH THE SHARED COMMITMENT OF REID PHYSICIAN ASSOCIATES, INC. AND REID HOSPITAL & HEALTH CARE SERVICES, INC. TO PROVIDE SERVICE TO ALL MEMBERS OF OUR MULTI-COUNTY SERVICE AREA INCLUDING...

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IN KEEPING WITH THE SHARED COMMITMENT OF REID PHYSICIAN ASSOCIATES, INC. AND REID HOSPITAL & HEALTH CARE SERVICES, INC. TO PROVIDE SERVICE TO ALL MEMBERS OF OUR MULTI-COUNTY SERVICE AREA INCLUDING THE ELDERLY, DISABLED, AND POOR, REID PHYSICIAN ASSOCIATES, INC. PROVIDES CARE REGARDLESS OF ABILITY TO PAY. OUR SERVICES INCLUDE THOSE COVERED BY THE MEDICARE AND MEDICAID PROGRAMS AT BELOW COST AS WELL AS DISCOUNTED SERVICES FOR THE POOR IN ACCORDANCE WITH REID HOSPITAL & HEALTH CARE SERVICES, INC.'S FINANCIAL ASSISTANCE POLICY. IN 2023, REID PHYSICIAN ASSOCIATES, INC. PROVIDED OUR COMMUNITY A TOTAL OF 58,711 PHYSICIAN DAYS, RESULTING IN 888,989 PATIENT ENCOUNTERS OF WHICH 408,496 WERE MEDICARE AND 139,032 WERE MEDICAID PATIENT ENCOUNTERS. THESE PATIENT ENCOUNTERS INCLUDE 36,112 FIRST TIME PATIENTS WITH 16,594 BEING MEDICARE AND 5,648 BEING MEDICAID PATIENTS. PLEASE NOTE, PAYER BREAKDOWNS ARE ESTIMATED BASED OFF OF PROPORTION OF GROSS CHARGES FOR THESE PAYER TYPES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $604,064
Program Service Revenue $97,893,076
Investment Income $-16,128
Other Revenue $4,688,490
TOTAL REVENUE $103,169,502

Expense Breakdown

Grants Paid $0
Salaries & Benefits $144,439,242
Fundraising Expenses $163,093
Program Expenses $27,141,356
Other Expenses $17,109,144
TOTAL EXPENSES $161,548,386

Year-over-Year Comparison

2023 2022 Change
Revenue $103,169,502 $99,522,887 +0.0%
Expenses $161,548,386 $152,307,948 +0.1%
Net Income $-58,378,884 $-52,785,061 +0.1%
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
19
Independent Members
14
Employees
1060
Volunteers
150

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
$1,290,355
Total Directors
20
$4,551,271
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A BOARD MEMBER - SECRETARY 3.0
Officer Director
$0 $0 $0
N/A PRESIDENT - CHIEF EXECUTIVE OFFICER 12.5
Officer Director
$0 $148,722 $1,290,355
N/A BOARD MEMBER - 2ND VICE CHAIR 3.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER - TREASURER 3.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER - 1ST VICE CHAIR 3.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER - CHAIR 6.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 45.0
Director
$382,426 $26,615 $409,041
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 45.0
Director
$751,123 $51,082 $802,205
N/A BOARD MEMBER 45.0
Director
$488,748 $53,515 $542,263
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$0 $0 $0
N/A BOARD MEMBER 3.0
Director
$1,039,009 $54,355 $1,093,364
N/A BOARD MEMBER (TERM ENDED) 48.0
Director
$371,786 $42,257 $414,043
N/A Physician - Orthopedic 50.0
Highest
$1,906,853 $54,885 $1,961,738
N/A Physician - Radiologist 50.0
Highest
$1,047,269 $49,736 $1,097,005
N/A Physician - Cardiothoracic Surgeon 50.0
Highest
$1,127,785 $30,758 $1,158,543
N/A Physician 50.0
Highest
$1,482,715 $55,173 $1,537,888
N/A Physician - Radiologist 50.0
Highest
$1,005,661 $52,497 $1,058,158
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
2024 No data No data No data No data
2023 $103,169,502 $161,548,386 $14,859,547 $-58,378,884
2022 $99,522,887 $152,307,948 $19,671,987 $-52,785,061
2021 $96,947,543 $147,594,432 $23,164,630 $-50,646,889
2020 $87,667,064 $140,689,193 $21,399,236 $-53,022,129
2019 $75,299,679 $134,154,598 $17,702,333 $-58,854,919
2018 $63,799,900 $118,070,946 $18,433,742 $-54,271,046
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