PROMEDICA MONROE CARDIOLOGY

EIN: 272920342 501(c)(3) Health Care

TOLEDO, OH

Total Revenue
$624,606
Total Expenses
$1,275,060
Total Assets
$174,823
Net Assets
$54,833
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
MI
Principal Officer
TERRENCE METZGER
Phone
4192525772
Tax Period
2023-01-01 to 2023-12-31

PROMEDICA MONROE CARDIOLOGY, founded in 2010, is a small nonprofit in the Health Care sector that reported $625K in total revenue in fiscal year 2023. Expenses of $1.3M exceeded revenue, resulting in a 104% operating deficit.

Mission

AS AN INTEGRAL PART OF PROMEDICA HEALTH SYSTEM, INC., WE WILL BE THE PREMIER COMMUNITY-BASED MANAGEMENT SERVICES ORGANIZATION AND PROVIDER OF RELATED HEALTHCARE SERVICES FOR NORTHWEST OHIO/SOUTHEAST MICHIGAN, OFFERING QUALITY, COST-EFFECTIVE, EFFICIENT, AND VALUE-ADDED SERVICES TO ACHIEVE SUPERIOR PATIENT SATISFACTION AND A FINANCIALLY VIABLE NETWORK OF PHYSICIANS SUPPORTING THE MEDICAL NEEDS OF THE COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $1,275,060 Revenue: $624,606

SERVING INDIVIDUALS AND FAMILIES IN NORTHWEST OHIO AND SOUTHEAST MICHIGAN, PROMEDICA MONROE CARDIOLOGY, A SUBSIDIARY OF PROMEDICA PHYSICIANS GROUP (PPG), SPECIALIZES IN CARDIOLOGY AS PART OF A LARGE...

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SERVING INDIVIDUALS AND FAMILIES IN NORTHWEST OHIO AND SOUTHEAST MICHIGAN, PROMEDICA MONROE CARDIOLOGY, A SUBSIDIARY OF PROMEDICA PHYSICIANS GROUP (PPG), SPECIALIZES IN CARDIOLOGY AS PART OF A LARGE SELECTION OF PHYSICIANS AND ADVANCED PRACTICE PROVIDERS WHO PROVIDE MEDICAL CARE AND OTHER HEALTHCARE SERVICES VIA AN INTEGRATED APPROACH THROUGH WHICH THEY COLLABORATE WITH OTHER PROVIDERS. THIS INTEGRATED DELIVERY IS MORE COST-EFFECTIVE THAN TRADITIONAL DELIVERY SYSTEMS AND HELPS TO ENSURE PATIENTS HAVE BETTER ACCESS TO CARE IN THE MOST APPROPRIATE SETTING. PPG AND ITS SUBSIDIARIES ARE PART OF PROMEDICA HEALTH SYSTEM, INC. (PROMEDICA), A MISSION-BASED, LOCALLY OWNED, NONPROFIT HEALTHCARE ORGANIZATION HIGHLY FOCUSED ON ACHIEVING CORE VALUES. HEADQUARTERED IN TOLEDO, OHIO, PROMEDICA SERVES 28 STATES ACROSS THE COUNTRY AND IS ONE OF THE NATION'S LEADING HEALTH SYSTEMS. OUR STEWARDSHIP OF RESOURCES HAS ENABLED US TO WISELY INVEST IN PATIENT-CENTERED CARE, ADVANCED TECHNOLOGY, INNOVATIVE PROGRAMS, AND FAMILY-ORIENTED FACILITIES THAT HELP TO ENSURE PATIENTS AND AREA RESIDENTS HAVE EQUAL ACCESS TO HIGH-QUALITY, SAFE CARE IN THE MOST APPROPRIATE SETTING, REGARDLESS OF PATIENTS' ABILITY TO PAY. PPG'S WELL-EQUIPPED PHYSICIAN FACILITIES ARE LOCATED IN APPROXIMATELY 200 LOCATIONS, AND ITS NETWORK IS COMPRISED OF MORE THAN 1,200 HEALTHCARE PROVIDERS CERTIFIED IN MORE THAN SPECIALTIES, INCLUDING ANESTHESIOLOGY, BARIATRICS, CARDIOLOGY, CRITICAL CARE, ENT, FAMILY MEDICINE, GASTROENTEROLOGY, GENERAL SURGERY, HEMATOLOGY-ONCOLOGY, HOSPITALISTS, INTERNAL MEDICINE, NEUROLOGY AND NEUROSURGERY, OBSTETRICS/GYNECOLOGY, OCCUPATIONAL MEDICINE, OPHTHALMOLOGY, ORTHOPEDIC SURGERY, PEDIATRIC CARDIOLOGY, PEDIATRIC CRITICAL CARE MEDICINE, PEDIATRICS, PSYCHIATRY, SPORTS CARE, SURGICAL ONCOLOGY, UROLOGY, AND VASCULAR MEDICINE. PPG CONDUCTED APPROXIMATELY 2 MILLION PATIENT ENCOUNTERS IN 2023. ADDITIONALLY, PPG PRIMARY CARE PRACTICES NOW SCREEN FOR 5 DIFFERENT SOCIAL DETERMINANTS SCREENS FOR AREAS SUCH AS FOOD INSECURITY, FINANCIAL, TRANSPORTATION, AND UTILITIES. PATIENTS SCREENING POSITIVE ARE CONNECTED TO COMMUNITY RESOURCES TO IMPROVE HEALTH AND WELL-BEING.PROMEDICA MONROE CARDIOLOGY ALSO PROVIDED A SIGNIFICANT AMOUNT OF FINANCIAL ASSISTANCE TO THE COMMUNITY DURING 2023, OF WHICH $16,045 REPRESENTED UNCOMPENSATED AMOUNTS FOR TREATMENT OF PATIENTS WHO DID NOT HAVE THE FINANCIAL RESOURCES TO PAY FOR HOSPITAL SERVICES. FINANCIAL ASSISTANCE REPRESENTS THE COST TO PROVIDE SERVICE AND DOES NOT INCLUDE THE COSTS FOR ACCOUNTS WRITTEN OFF TO BAD DEBT FOR PATIENTS WHO DO NOT PAY THEIR BILLS. ITS COST OF BAD DEBT FOR 2023 TOTALED $9,688.DURING 2023, PROMEDICA MONROE CARDIOLOGY EXPENDED $633,238 IN NET PAYROLL, PROVIDING 5 JOBS. A TOTAL OF $48,745 WAS WITHHELD FROM EMPLOYEES IN STATE AND LOCAL TAXES.IN SUMMARY, PPG AND ITS SUBSIDIARIES DEMONSTRATE THEIR MISSION AND CORE VALUES BY PROVIDING HIGH-QUALITY HEALTH CARE TO ALL PATIENTS, REGARDLESS OF THEIR RACE, CREED, SEX, NATIONAL ORIGIN, DISABILITY OR AGE. AND, WE RECOGNIZE THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL CARE. THEREFORE, PROMEDICA PROVIDES THESE HEALTHCARE SERVICES; RECRUITS AND TRAINS HEALTHCARE PROFESSIONALS TO SERVE THE BROADER COMMUNITY; PROVIDES APPROPRIATE FINANCIAL ASSISTANCE; OFFERS SERVICES AND CONTRIBUTIONS TO OTHER NONPROFIT ORGANIZATIONS THAT ALLOW THEM TO PROVIDE KEY SERVICES TO THEIR CONSTITUENTS; AND PRESENTS FREE EDUCATIONAL CLASSES, HEALTH FAIRS AND OTHER ACTIVITIES TO OUR LOCAL COMMUNITY TO HELP ENSURE ALL MEMBERS HAVE EQUAL ACCESS TO CARE.

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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 $0
Program Service Revenue $624,606
Investment Income $0
Other Revenue $0
TOTAL REVENUE $624,606

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,141,696
Fundraising Expenses $0
Program Expenses $1,275,060
Other Expenses $133,364
TOTAL EXPENSES $1,275,060

Year-over-Year Comparison

2023 2022 Change
Revenue $624,606 $630,341 0.0%
Expenses $1,275,060 $1,234,577 +0.0%
Net Income $-650,454 $-604,236 +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
27
Independent Members
19
Employees
8
Volunteers
19

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
4
$4,599,827
Total Directors
27
$9,202,222
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ARTURO POLIZZI PRESIDENT AND CEO 1.00
Officer Director
$0 $5,857 $2,127,450
LOUIS ROBICHAUX TREASURER - PART YEAR 1.00
Officer Director
$0 $0 $0
TERRENCE METZGER TRUSTEE/TREASURER 1.00
Officer Director
$0 $4,079 $1,059,169
STEVE SADOWSKI CHIEF LEGAL OFFICER 1.00
Officer Director
$0 $6,028 $1,413,208
LISA HAWKER TRUSTEE 1.00
Director
$0 $0 $40,000
BILL MCDONNELL TRUSTEE 1.00
Director
$0 $0 $0
NANCY KABAT TRUSTEE 1.00
Director
$0 $0 $0
MARCY BROWN TRUSTEE 1.00
Director
$0 $0 $0
LISA MILLER TRUSTEE/DIRECTOR 1.00
Director
$0 $4,657 $95,170
KATHLEEN MERRILL TRUSTEE 1.00
Director
$0 $0 $0
LAURA KLINE TRUSTEE 1.00
Director
$0 $0 $0
AMANDA KISSNER TRUSTEE 1.00
Director
$0 $0 $0
LINDA THIEL TRUSTEE 1.00
Director
$0 $0 $0
BARRY LUSE TRUSTEE 1.00
Director
$0 $0 $0
SUE VANISACKER TRUSTEE 1.00
Director
$0 $0 $0
KRISTINE BRENNER TRUSTEE 1.00
Director
$0 $0 $0
JIM BRENNAN TRUSTEE 1.00
Director
$0 $0 $0
VICTOR CHERFAN TRUSTEE/PHYSICIAN 1.00
Director
$0 $0 $659,149
DONALD CRESCENZO TRUSTEE/PHYSICIAN 1.00
Director
$0 $0 $918,456
TIM BUBLICK TRUSTEE 1.00
Director
$0 $0 $0
EVON EBEID TRUSTEE 1.00
Director
$0 $0 $0
ALEX GERKEN TRUSTEE 1.00
Director
$0 $0 $0
KEVIN PIROZEK TRUSTEE 1.00
Director
$0 $0 $0
DAVE SNAVELY TRUSTEE 1.00
Director
$0 $0 $0
DAWN BUSKEY TRUSTEE/PRESIDENT 1.00
Director
$0 $5,337 $1,417,737
KENT BISHOP TRUSTEE/PRESIDENT 1.00
Director
$0 $4,120 $1,441,883
ROBERT LACLAIR TRUSTEE 1.00
Director
$0 $0 $30,000
JATIN AMIN PHYSICIAN 45.00
Highest
$874,901 $6,893 $881,794
STEVEN M CAVANAUGH TREASURER, CFO - FORMER 0.00
$0 $5,657 $1,340,837
JEFFREY C KUHN SECRETARY, CHIEF LEGAL OFFICER - FORMER 0.00
$0 $30,922 $779,348
GARY AKENBERGER SR VP FINANCE - FORMER 0.00
$0 $43,532 $572,179
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 $624,606 $1,275,060 $174,823 $-650,454
2022 $630,341 $1,234,577 $181,525 $-604,236
2021 $773,884 $1,448,249 $510,648 $-674,365
2020 $759,047 $2,090,724 $285,669 $-1,331,677
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