GEORGETOWN MEMORIAL HOSPITAL

EIN: 570341194 501(c)(3) Health Care

Georgetown, SC

Total Revenue
$267,117,739
Total Expenses
$246,540,478
Total Assets
$65,793,414
Net Assets
$53,747,337
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Financial Trends

Organization Details

Formation Year
1946
Legal Domicile
SC
Phone
8435208617
Tax Period
2023-10-01 to 2024-09-30

GEORGETOWN MEMORIAL HOSPITAL, founded in 1946, is a major nonprofit in the Health Care sector that reported $267.1M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $246.5M left a modest 8% surplus.

Mission

We help people live better lives through better health.

Program Service Accomplishments

Program 1
Expenses: $199,923,464 Revenue: $266,190,683

GEORGETOWN MEMORIAL HOSPITAL PROVIDES QUALITY HEALTH CARE AND PROMOTES HEALTH AND WELLNESS TO GEORGETOWN COUNTY AND SURROUNDING AREAS. GEORGETOWN MEMORIAL HOSPITAL IS A 131 BED ACUTE FACILITY LOCATED...

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GEORGETOWN MEMORIAL HOSPITAL PROVIDES QUALITY HEALTH CARE AND PROMOTES HEALTH AND WELLNESS TO GEORGETOWN COUNTY AND SURROUNDING AREAS. GEORGETOWN MEMORIAL HOSPITAL IS A 131 BED ACUTE FACILITY LOCATED IN THE CITY OF GEORGETOWN, SOUTH CAROLINA. THE HOSPITAL WAS ORGANIZED UNDER THE LAWS OF THE STATE OF SOUTH CAROLINA IN 1946 FOR THE PURPOSE OF OPERATING A COMMUNITY HOSPITAL IN GEORGETOWN COUNTY. PLEASE SEE SCHEDULE O FOR A CONTINUATION OF PROGRAM SERVICE ACCOMPLISHMENTS. THE HOSPITAL WAS CREATED FOR THE PURPOSE OF PROMOTING HEALTH FOR ALL RESIDENTS OF GEORGETOWN COUNTY AND ITS OUTLYING AREAS. THE PROMOTION OF HEALTH HAS BEEN ESTABLISHED AS A CHARITABLE PURPOSE UNDER INTERNAL REVENUE CODE (IRC) SECTION 501 (C)(3). REVENUE RULING 69-545, 1969-2 C.B. 117, AS MODIFIED BY REV. RUL. 83-157, 1983-2 C.B. 94, SETS FORTH THE FACTORS THE INTERNAL REVENUE SERVICES WILL CONSIDER IN DETERMINING WHETHER A NONPROFIT HOSPITAL QUALIFIED FOR TAX EXEMPT STATUS. THE HOSPITAL OPERATES ITS FACILITIES IN A MANNER DESCRIBED IN REV. RUL. 69-545, SUPRA. THE HOSPITAL HAS A BOARD OF TRUSTEES COMPOSED OF INDEPENDENT CIVIC LEADERS AND PHYSICIANS. AN OPEN MEDICAL STAFF IS MAINTAINED BY THE HOSPITAL, WITH PRIVILEGES AVAILABLE TO ALL QUALIFIED PHYSICIANS. ALSO, THE HOSPITAL PROVIDES EMERGENCY AND NON-EMERGENCY CARE TO ANYONE REGARDLESS OF THEIR ABILITY TO PAY, EITHER DIRECTLY OR THROUGH THIRD PARTY REIMBURSEMENT, INCLUDING MEDICARE AND MEDICAID. DURING THE YEAR ENDED SEPTEMBER 30, 2024, THE HOSPITAL FURNISHED CHARITY CARE IN THE AMOUNT OF $24,013,285. IN ADDITION TO PROVIDING PATIENT CHARITY CARE, AND IN FURTHERANCE OF ITS EXEMPT PURPOSE TO BENEFIT THE COMMUNITY, THE HOSPITAL PROVIDES CAR SEATS TO FAMILIES AND NEWBORN INFANTS WHO DO NOT PRESENTLY HAVE OR CANNOT AFFORD TO PURCHASE ONE. IN ADDITION, THE HOSPITAL PROVIDES FREE TAXI SERVICE THROUGH AN AUXILIARY ORGANIZATION FOR INDIVIDUALS THAT CANNOT AFFORD OR ARRANGE FOR TRANSPORTION TO THEIR RESIDENCE OR HEALTHCARE SERVICE. THE HOSPITAL ALSO PARTICIPATES IN STATE PROGRAMS SUCH AS THE BEST CHANCE NETWORK, WHICH TARGETS LOW-INCOME WOMEN FOR PREVENTATIVE HEALTHCARE TESTING. THE HOSPITAL IS PART OF THE GEORGETOWN HOSPITAL SYSTEM WHICH PERIODICALLY CONDUCTS VARIOUS COMMUNITY OUTREACH, SCREENING, AND EDUCATIONAL PROGRAMS. AMONG THESE ARE CHOLESTEROL AND BLOOD PRESSURE SCREENINGS, PERIODIC HEALTH FAIRS HELD THROUGHOUT THE SERVICE AREA WHICH OFFER A VARIETY OF HEALTH-RELATED INFORMATION AND SCREENINGS, SUCH AS GLUCOSE, CHOLESTEROL, BLOOD PRESSURE, BODY FAT ANALYSIS, AND A LABORATORY BLOOD PROFILE. THE HOSPITAL SYSTEM'S COMMUNITY EDUCATION PROGRAM CONDUCTS A VARIETY OF CLASSES AND LECTURE OPEN TO THE PUBLIC, INCLUDING CPR, WEIGHT CONTROL, SMOKING CESSATION, CHILDBIRTH EDUCATION, PRE-NATAL AND INFANT NUTRITION, AND OTHERS.

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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 $908,282
Program Service Revenue $266,190,683
Investment Income $37,965
Other Revenue $-19,191
TOTAL REVENUE $267,117,739

Expense Breakdown

Grants Paid $2,500
Salaries & Benefits $52,179,216
Fundraising Expenses $424,105
Program Expenses $199,923,464
Other Expenses $194,279,712
TOTAL EXPENSES $246,540,478

Year-over-Year Comparison

2023 2022 Change
Revenue $267,117,739 $215,607,441 +0.2%
Expenses $246,540,478 $203,101,052 +0.2%
Net Income $20,577,261 $12,506,389 +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
17
Independent Members
12
Employees
N/A
Volunteers
74

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
7
$2,357,087
Total Directors
17
$1,215,373
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Dr Marthena Morant Secretary/Treasurer 0.5
Officer Director
$0 $0 $0
Mr Daniel Scheffing Chairman 0.5
Officer Director
$0 $0 $0
Mr Francis B Ford Jr Vice Chairman 0.5
Officer Director
$0 $0 $0
Dr Christine Gerber Trustee & Physician 0.5
Director
$9,048 $0 $18,096
Dr Christopher Bach Trustee & Physician 0.5
Director
$0 $29,091 $1,145,695
Dr Desmond Young Vice Chief of Staff & Physician 0.5
Director
$13,204 $0 $26,408
Dr Michael J Ratliffe Chief of Staff & Physician 0.5
Director
$12,587 $0 $25,174
Mr Dan Stacy Jr Trustee 0.5
Director
$0 $0 $0
Mr J Edward Norris III Trustee 0.5
Director
$0 $0 $0
Mr Julian A Reynolds Jr Trustee 0.5
Director
$0 $0 $0
Mr Mark Nash Trustee 0.5
Director
$0 $0 $0
Mr Robert L Jones Trustee 0.5
Director
$0 $0 $0
Mr Tony Jordan Trustee 0.5
Director
$0 $0 $0
Mr Willie Shelley Jr Trustee 0.5
Director
$0 $0 $0
Ms Judith K Ingle Trustee 0.5
Director
$0 $0 $0
Ray Funnye Trustee 0.5
Director
$0 $0 $0
Tony Cox Trustee 0.5
Director
$0 $0 $0
Bruce Bailey President & CEO 1.0
Officer
$0 $33,807 $733,041
Elizabeth Ward Executive Vice President & CFO 1.0
Officer
$0 $31,588 $528,633
Gayle Resetar EXECUTIVE VICE PRESIDENT & COO 1.0
Officer
$0 $23,093 $490,695
Phil Dulberger Executive Vice President & Chief Physician Executive 1.0
Officer
$0 $29,477 $604,718
Charles Foxworth Pharmacy Manager 20.0
Highest
$83,818 $24,772 $192,408
Darrell Willm Sr Director Pharmacy 28.0
Highest
$154,508 $25,458 $246,184
Kelly Edwards Director Pharmacy 24.0
Highest
$125,469 $22,627 $231,742
Lesley Hastings Sr Director Surgical Svcs 20.0
Highest
$85,891 $24,520 $196,302
Melanie Warren Senior Director 20.0
Highest
$79,560 $19,536 $178,656
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 $267,117,739 $246,540,478 $65,793,414 $20,577,261
2023 $215,607,441 $203,101,052 $409,946,073 $12,506,389
2022 $221,697,740 $193,244,262 $380,747,584 $28,453,478
2021 $212,821,150 $177,567,792 $465,019,345 $35,253,358
2020 $169,776,299 $170,758,731 $444,383,449 $-982,432
2019 $181,983,070 $163,410,004 $401,767,363 $18,573,066
2018 $168,539,088 $151,279,169 $395,921,974 $17,259,919
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