Memorial Regional Medical Center Inc

EIN: 541744931 501(c)(3)

Richmond, VA

Total Revenue
$423,077,380
Total Expenses
$397,371,253
Total Assets
$381,327,182
Net Assets
$226,157,893
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
VA
Phone
8042818413
Tax Period
2018-09-01 to 2019-08-31

Memorial Regional Medical Center Inc, founded in 1994, is a major nonprofit that reported $399.3M in total revenue in fiscal year 2017.

Mission

ACUTE CARE HOSPITAL

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2018)

Revenue Breakdown

Contributions & Grants $608,446
Program Service Revenue $414,639,323
Investment Income $2,753,581
Other Revenue $5,076,030
TOTAL REVENUE $423,077,380

Expense Breakdown

Grants Paid $83,826
Salaries & Benefits $146,839,919
Fundraising Expenses $0
Program Expenses $368,971,730
Other Expenses $250,447,508
TOTAL EXPENSES $397,371,253

Year-over-Year Comparison

2018 2017 Change
Revenue $423,077,380 $399,284,758 +0.1%
Expenses $397,371,253 $388,190,420 +0.0%
Net Income $25,706,127 $11,094,338 +1.3%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
19
Independent Members
18
Employees
2347
Volunteers
408

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
10
$4,132,919
Total Directors
24
$4,120,692
Key Employees
5
$1,765,261
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A CEO-BSV (End 07/19) 5.0
Officer Director
$0 $16,500 $1,852,330
N/A Interim CEO - Richmond (Beg 07/19) 5.0
Officer Director
$0 $0 $0
N/A President 5.0
Officer Director
$0 $0 $0
N/A Chairman (End 12/18) 2.0
Officer Director
$0 $0 $0
N/A Chairman (Beg 01/19) 2.0
Officer Director
$0 $0 $0
N/A Board Member (End 03/19) 2.0
Director
$0 $148,793 $2,268,362
N/A Board Member 10.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member (Beg 08/19) 2.0
Director
$0 $0 $0
N/A Board Member (Beg 08/19) 2.0
Director
$0 $0 $0
N/A Board Member (End 12/18) 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member (End 12/18) 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Board Member 2.0
Director
$0 $0 $0
N/A Treasurer, CFO - Richmond Market 5.0
Officer
$0 $25,196 $683,182
N/A Secretary (Beg 01/19) 2.0
Officer
$0 $42,470 $306,709
N/A VP Service Line Strategy; CEO - MRMC & RCH (Beg 09/18) 12.0
Officer
$0 $52,643 $434,092
N/A CEO-MRMC & RCH (End 09/18) 25.0
Officer
$0 $43,740 $856,606
N/A Secretary (End 01/19) 2.0
Officer
$0 $0 $0
N/A VP Orthopedics (End 09/18) 10.0
Key Emp
$0 $21,923 $347,034
N/A SVP HR - Richmond (End 11/18) 8.0
Key Emp
$0 $43,292 $404,968
N/A VP HR - Richmond (Beg 11/18) 8.0
Key Emp
$0 $38,572 $217,219
N/A VP - Patient Care Services 30.0
Key Emp
$275,236 $33,973 $309,209
N/A CMO-MRMC 50.0
Key Emp
$443,393 $43,438 $486,831
N/A Cardiologist 50.0
Highest
$1,229,622 $42,233 $1,271,855
N/A Cardiologist 50.0
Highest
$880,602 $43,772 $924,374
N/A Cardiologist 50.0
Highest
$800,402 $26,808 $827,210
N/A Cardiologist 50.0
Highest
$730,028 $41,282 $771,310
N/A Physician 50.0
Highest
$733,029 $49,214 $782,243
N/A Former VP-CNE 0.0
$324,841 $31,977 $356,818
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 $423,077,380 $397,371,253 $381,327,182 $25,706,127
2019 $143,789,803 $138,281,721 No data $5,508,082
2018 $399,284,758 $388,190,420 $347,780,453 $11,094,338
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