BEDFORD MEMORIAL HOSPITAL

EIN: 540566100 501(c)(3) Health Care

BEDFORD, VA

Total Revenue
$53,292,387
Total Expenses
$44,886,760
Total Assets
$36,484,228
Net Assets
$33,691,330
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Financial Trends

Organization Details

Formation Year
1957
Legal Domicile
VA
Principal Officer
STACY VAUGHT
Phone
5404257603
Tax Period
2023-01-01 to 2023-12-31

BEDFORD MEMORIAL HOSPITAL, founded in 1957, is a mid-sized nonprofit in the Health Care sector that reported $53.3M in total revenue in fiscal year 2023. The organization ran a surplus of $8.4M, a strong 16% operating margin.

Mission

THE MISSION OF BEDFORD MEMORIAL HOSPITAL, A 501(C)(3) HOSPITAL, IS TO IMPROVE THE HEALTH OF THE COMMUNITY IT SERVES. (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1
Expenses: $33,214,832 Revenue: $52,958,481

BEDFORD MEMORIAL HOSPITAL EXISTS TO SERVE THE HEALTHCARE NEEDS OF ITS COMMUNITY, REGARDLESS OF PATIENT ABILITY TO PAY. BEDFORD'S ACUTE HOSPITAL ADMITTED 1,182 PATIENTS DURING 2023 AND PROVIDED 5,026...

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BEDFORD MEMORIAL HOSPITAL EXISTS TO SERVE THE HEALTHCARE NEEDS OF ITS COMMUNITY, REGARDLESS OF PATIENT ABILITY TO PAY. BEDFORD'S ACUTE HOSPITAL ADMITTED 1,182 PATIENTS DURING 2023 AND PROVIDED 5,026 DAYS OF CARE DURING THE YEAR. HOSPITAL PROGRAMS INCLUDE PROVISION OF NURSING CARE; EXTENSIVE INPATIENT AND OUTPATIENT SURGICAL AND ENDOSCOPIC SERVICES; AND DIAGNOSTIC IMAGING SERVICES INCLUDING CT, MRI, AND MAMMOGRAPHY. BEDFORD PROVIDES A NUMBER OF SERVICES TARGETING THE SPECIFIC HEALTH NEEDS OF ITS POPULATION, INCLUDING DIABETES MANAGEMENT; HOME HEALTH AND HOSPICE CARE; PHYSICAL, SPEECH, AND OCCUPATIONAL THERAPY PROGRAMS; AN ADULT DAY CARE CENTER; AND CARDIAC AND RESPIRATORY REHAB. BEDFORD ALSO PROVIDES AN EMERGENCY DEPARTMENT WITH 24-HOUR CARE, EMERGENCY TRANSPORTATION, AND A CHEST PAIN AND STROKE PROGRAM. WITH 23,280 VISITS DURING 2023, BEDFORD'S EMERGENCY DEPARTMENT SERVICES ARE A CRITICAL COMPONENT OF THE HEALTH SAFETY NET IN ITS SERVICE AREA, ACTING AS A KEY HEALTH PROVIDER FOR A SIGNIFICANT NUMBER OF UNINSURED PATIENTS. 2023 COMMUNITY BENEFIT HIGHLIGHTS . IN FURTHERANCE OF ITS MISSION, BEDFORD PROVIDED EXTENSIVE UNCOMPENSATED CARE DURING 2023, $1,864,763 IN CHARGES AT AN ESTIMATED COST OF $409,659WAS CONTRIBUTED AS TRADITIONAL CHARITY CARE TO PATIENTS WHO DID NOT HAVE THE ABILITY TO PAY. ELIGIBILITY FOR CHARITY CARE IS BASED ON POVERTY INCOME LEVELS SET BY THE STATE. . CHARGES OF $6,107,887, AT AN ESTIMATED COST OF $1,344,767 WAS CONTRIBUTED AS BAD DEBT TO PATIENTS WHO DID NOT HAVE THE ABILITY TO PAY. . LOSS FROM MEDICARE BASED ON COST TO CHARGE RATIO TOTALED $1,216,168. IN 2023, CENTRA BEDFORD MEMORIAL HOSPITAL CONTINUED ITS COMMITMENT TO STRONG PARTNERSHIPS AND ENGAGEMENT WITHIN THE BEDFORD AREA. CBMH AWARDED $131,000 IN GRANTS AND SPONSORSHIPS TO COMMUNITY ORGANIZATIONS. AS IN PREVIOUS YEARS, CENTRA'S COMMUNITY HEALTH NEEDS ASSESSMENT PROVIDED INSIGHT AND DIRECTION ON WHERE TO FOCUS OUR EFFORTS AS COMMUNITY PARTNERS AND ADVOCATES. ACCESS TO HEALTHCARE SERVICES, MENTAL HEALTH & SUBSTANCE USE, AND ISSUES AFFECTING CHILDREN WERE PRIORITIES IN PLANNING COMMUNITY ENGAGEMENT ACTIVITIES. VOLUNTEERS IN 2023, 59 VOLUNTEERS DONATED 5,110 HOURS OF SERVICE TO OUR VOLUNTEER PROGRAM IN 2023, CENTRA BEDFORD HOSPICE EXPERIENCED A SIGNIFICANT OUTPOURING OF COMMUNITY SUPPORT THROUGH THE BEDFORD HOSPICE VOLUNTEER PROGRAM. THIS REPORT HIGHLIGHTS THE INVALUABLE CONTRIBUTION MADE BY VOLUNTEERS, HIGHLIGHTING THEIR DEDICATION, COMPASSION, AND SELFLESSNESS IN SERVING PATIENTS AND FAMILIES WITHIN THE HOSPICE PROGRAM. THROUGH OUT THE YEAR, BEDFORD HOSPICE VOLUNTEERS GENEROUSLY DONATED 3,245.03 HOURS OF THEIR TIME TO SUPPORT THE PROGRAM, EXTENDING THEIR COMMITMENT TO VARIOUS ESSENTIAL TASKS, INCLUDING MEAL AND MEDICATION DELIVERY, PATIENT INTERACTION, AND EMOTIONAL SUPPORT THROUGH PHONE CALLS, HOME VISITS, CARD SENDING, AND CRAFTING BLANKETS AND NECK PILLOWS. THE PROGRAM ALSO HONORS HOSPICE VETERANS WITH A SPECIAL PINNING CEREMONY, AND VOLUNTEERS PROVIDE OFFICE SUPPORT TO HOSPICE STAFF. ADDITIONALLY, VOLUNTEERS COLLECTIVELY DONATED 26,985 MILES BY DRIVING THEIR OWN CARS TO PROVIDE HOSPICE SERVICES. THE COLLECTIVE EFFORTS OF BEDFORD HOSPICE VOLUNTEERS IN 2023 RESULTED IN SUBSTANTIAL COST SAVINGS FOR CENTRA BEDFORD HOSPICE. BY VOLUNTEERING THEIR TIME AND RESOURCES, THESE INDIVIDUALS CONTRIBUTED TO A TOTAL SAVINGS OF $73,547.81 FOR CENTRA HOSPICE. THIS SIGNIFICANT FINANCIAL BENEFIT UNDERSCORES THE INDISPENSABLE ROLE PLAYED BY VOLUNTEERS IN SUPPLEMENTING THE HOSPITAL'S OPERATIONS AND DELIVERING ESSENTIAL SERVICES TO THE COMMUNITY. THE FOLLOWING IS A LIST OF COMMUNITY BENEFIT PROGRAMS/EVENTS AND NUMBER OF PARTICIPANTS. . BABY SITTING CLASSES-1 EVENT, 10 PARTICIPANTS . CANCER EDUCATION (ALL) - 3 EVENTS, 10 PARTICIPANTS . CPR/FIRST AID CLASSES-1 EVENT . MENTAL HEALTH/DEPRESSION EDUCATION -1 EVENT, 20 PARTICIPANTS . SENIORS EDUCATION AND OUTREACH - 7 EVENTS, 370 PARTICIPANTS . SPEAKERS BUREAU (HEALTH TOPICS)-1 EVENT, 32 PARTICIPANTS IN 2023, THE TOTAL COMMUNITY BENEFIT REALIZED FOR BEDFORD MEMORIAL HOSPITAL WAS $35,775.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $103,496
Program Service Revenue $51,613,050
Investment Income $1,200
Other Revenue $1,574,641
TOTAL REVENUE $53,292,387

Expense Breakdown

Grants Paid $1,260
Salaries & Benefits $21,450,909
Fundraising Expenses $0
Program Expenses $33,214,832
Other Expenses $23,434,591
TOTAL EXPENSES $44,886,760

Year-over-Year Comparison

2023 2022 Change
Revenue $53,292,387 $49,940,863 +0.1%
Expenses $44,886,760 $44,842,209 +0.0%
Net Income $8,405,627 $5,098,654 +0.6%
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
13
Independent Members
9
Employees
418
Volunteers
59

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
5
$1,287,575
Total Directors
13
$2,969,089
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
AMY CARRIER CENTRA PRESIDENT/CEO 2.0
Director
$0 $275,838 $1,559,458
HOLLY TRENT DIRECTOR/SECRETARY & TREASURER 2.0
Officer Director
$0 $74,595 $816,816
DARLENE NIGRO DIRECTOR 2.0
Director
$0 $53,370 $418,557
WILLIAM BASS JR VP & BMH CEO 50.0
Officer
$281,386 $15,115 $296,501
TARA ANGE RN ACUTE CARE WEO A 50.0
Highest
$131,429 $48,954 $180,383
MEGAN HORTON MANAGER PHARMACY OPERATIONS 50.0
Highest
$166,847 $11,557 $178,404
STACEY VAUGHT CNO & INTERIM HOSP. PRESIDENT 50.0
Officer Director
$169,250 $5,008 $174,258
KATHRYN RIDILLA PHARMACIST 50.0
Highest
$150,173 $9,438 $159,611
SARAH KURTZ DIRECTOR SURGICAL SERVICES 50.0
Highest
$143,376 $10,864 $154,240
GINGER MCCALL SUPERVISOR ADMINISTRATIVE 50.0
Highest
$130,580 $286 $130,866
CYNTHIA GUNNOE CHAIR 2.0
Officer Director
$0 $0 $0
MARY ZIRKLE VICE CHAIR 2.0
Officer Director
$0 $0 $0
DAVID SENSENIG DIRECTOR 2.0
Director
$0 $0 $0
RHETTA WATKINS DIRECTOR 2.0
Director
$0 $0 $0
JANICE LUTH DIRECTOR 2.0
Director
$0 $0 $0
TIMOTHY HAYDEN DIRECTOR 2.0
Director
$0 $0 $0
LEE ANN CALVERT DIRECTOR 2.0
Director
$0 $0 $0
ROBERT FEUERSTEIN DO DIRECTOR 2.0
Director
$0 $0 $0
EDWARD D HUFF JR DIRECTOR 2.0
Director
$0 $0 $0
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 $53,292,387 $44,886,760 $36,484,228 $8,405,627
2022 $49,940,863 $44,842,209 $41,836,048 $5,098,654
2021 $58,938,493 $43,333,048 $39,050,429 $15,605,445
2020 $44,686,074 $41,839,063 $49,553,536 $2,847,011
2019 $45,271,644 $43,431,202 $46,208,603 $1,840,442
2018 $40,568,084 $44,111,198 $45,307,614 $-3,543,114
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