Cook Children's Medical Center - Prosper

EIN: 852354189 501(c)(3) Health Care

Fort Worth, TX

Total Revenue
$104,690,685
Total Expenses
$129,431,422
Total Assets
$288,609,811
Net Assets
$-81,150,275
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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
TX
Phone
6828854000
Tax Period
2023-10-01 to 2024-09-30

Cook Children's Medical Center - Prosper, founded in 2020, is a major nonprofit in the Health Care sector that reported $104.7M in total revenue in fiscal year 2023. Revenue surged 109% from the prior year, signaling strong growth momentum. Expenses of $129.4M exceeded revenue, resulting in a 24% operating deficit.

Mission

KNOWING THAT EVERY CHILD'S LIFE IS SACRED, OUR PROMISE IS TO IMPROVE THE HEALTH OF EVERY CHILD IN OUR REGION THROUGH THE PREVENTION AND TREATMENT OF ILLNESS, DISEASE AND INJURY.

Program Service Accomplishments

Program 1
Expenses: $101,803,539 Revenue: $104,559,864

Cook Children's presence in Prosper dates back to 2019 with the opening of an urgent care center and several primary care offices. The population in the northeast sector of the Metroplex was booming...

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Cook Children's presence in Prosper dates back to 2019 with the opening of an urgent care center and several primary care offices. The population in the northeast sector of the Metroplex was booming, and Cook Children's set out to bring world-class pediatric care closer to home for the families in that growing region. A medical office building and outpatient surgery center followed in 2020. The opening of Cook Children's Medical Center - Prosper in 2023 added an emergency department, surgical and procedural floor, infusion center, outpatient imaging center, retail pharmacy, inpatient unit and two floors of empty shell space. To make sure Cook Children's is positioned to meet greater needs in the region, the system purchased 12 more acres, increasing the footprint of the Prosper campus to 35 acres in FY24. Families enjoy access to a full complement of services in one centralized location. The Cook Children's Physician Network has approximately 60 pediatric subspecialists working at Cook Children's Pediatric Specialties - Prosper and at Cook Children's Medical Center - Prosper. Specialties at the Prosper location include gastroenterology, nephrology, urology, pulmonology, neurosciences, psychology, endocrinology, sports medicine, radiology, plastic surgery and wound care, ear, nose and throat (ENT), and the adolescent bariatric surgery program. It's the largest pediatric primary care network on the eastern side of the Metroplex. Milestones and Growth The medical center celebrated its first "birthday" on Jan. 9, 2024. Thousands of babies, children and teens from across the northern swath of North Texas and beyond were able to stay closer to home while receiving the same high-quality care that Cook Children's has long provided at our Fort Worth medical center. The Cook Children's systemwide culture platform - the values of respect, safety, generosity, collaboration, imagination and kindness - set the tone for the first year. Patients and families at Cook Children's Medical Center - Prosper loved the facility's unique features, one-of-a-kind design elements and beautiful aesthetics. Playful features just inside the front doors proved popular with visitors of all ages. The atrium includes a digital wall, a ceiling mural of flying cows and twinkling lights, and a color-coded path on the floor that guides visitors to their destination. The Emergency Department expanded to 21 beds in September 2024, and a third operating room also opened. Innovatively Empowering Families The design of the facility integrates technology to make the health care journey easier at every turn -- from the digital display in the atrium, to tools in the operating room for real-time remote viewing and physician collaboration. Each inpatient room includes a 65-inch television that syncs with personal devices for ordering food and for entertainment as well as medical consultations. Health technology advocates at the Peaks Tech Zone are on hand to assist with setting up medical devices and MyCookChildren's accounts. Families can download an app during their hospital stay that allows them to view and interact with much of the workflow involved in their child's care. Communication portals in each patient room are fully digitized and populated with information in real-time. As part of an integrated health care system, doctors in Prosper have the capability to video conference with their colleagues at Cook Children's Medical Center - Fort Worth. One example of that collaboration can be seen in a diagnostic service for seizure disorders. The test, called continuous electroencephalogram (EEG) monitoring, reads electrical activity in the brain. EEGs performed at Cook Children's - Prosper can be livestreamed to neurologists at the Epilepsy Monitoring Unit in Fort Worth for observation and reading. Responding to Needs In FY24, the pediatric intensive care unit (PICU) moved into a 26,021 square-foot space near the operating rooms and infusion center. The area was specifically built to care for the sickest patients and their families. The new PICU location originally was an empty shell when the medical center opened. The medical center's leadership had anticipated that the facilities and services would need to expand to meet the region's population growth. Having that empty space created the flexibility to tailor the utilization based on data trends. It was an intentional approach to completing the building in ways that most efficiently respond to the needs of the community. The 10-bed PICU offers state-of-the-art capabilities to treat life-threatening injuries and illnesses. Amenities for families include a lounge, laundry facilities, food storage, and showers in private bathrooms attached to every patient room. The vacancy created in the PICU's former location opened up space for 10 additional Medical-Surgical beds. Groundbreaking Science The Exercise Respiratory Center in Prosper was the site in August 2024 of what's believed to be the world's first continuous bronchoscopy during exercise (CBE) on a pediatric patient. The technique had been performed previously on adults -- but never before on pediatric patients. Pediatric pulmonologist John Robertson, M.D. and his team ran the test on a 13-year-old athlete who experienced chest pain and trouble breathing when playing soccer. The CBE showed that the patient needed speech therapy to help keep her larynx from closing while she exercised. Embraced by the Community Members of the Prosper-area community celebrated the medical center's first year by donating 1,821 new teddy bears. Their generosity restocked the supply of Prayer Bears given to comfort and encourage hospitalized patients. The teddy bears were collected at nearby Cook Children's primary care offices - an indication of our neighbors' support and loyalty. The local edition of a lifestyle publication in FY24 gave top recognition to Cook Children's Medical Center - Prosper in two categories: Best Hospital and Best Emergency Department. By voting for Cook Children's, readers of Living Magazine - Prosper & Celina voiced their trust in the world-class care they received under the Blue Peaks. Cook Children's was still a relative newcomer in the Prosper area, but the awards proved we were already ingrained and beloved. New Bariatric Program The Cook Children's Adolescent Bariatric Surgery Program welcomed its first patients in FY24 at Cook Children's Pediatric Specialties in Prosper. The program provides education and counseling to help treat obesity, a complex disease that affects an estimated 14.4 million children and teens in the United States. A pediatric surgeon, board-certified obesity medicine director, dietitian and other team members bring specialized knowledge and sensitivity to address the physical and mental harm caused by obesity. At the close of FY24, almost 100 teens had enrolled. Patients qualify based on their body mass index (BMI). The program aims to reduce their BMI by presenting healthy strategies for nutrition and behavior. It also helps manage associated conditions such as diabetes and high blood pressure. After six visits over six months, participants may choose to undergo laparoscopic gastric sleeve surgery. Patients return to the clinic for periodic checkups and resources following the weight loss procedure.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $104,867
Program Service Revenue $104,559,864
Investment Income $0
Other Revenue $25,954
TOTAL REVENUE $104,690,685

Expense Breakdown

Grants Paid $15,484,139
Salaries & Benefits $53,353,610
Fundraising Expenses $0
Program Expenses $101,803,539
Other Expenses $60,593,673
TOTAL EXPENSES $129,431,422

Year-over-Year Comparison

2023 2022 Change
Revenue $104,690,685 $50,141,080 +1.1%
Expenses $129,431,422 $92,976,629 +0.4%
Net Income $-24,740,737 $-42,835,549 -0.4%
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
13
Employees
483
Volunteers
58

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
15
$12,801,132
Total Directors
16
$0
Key Employees
2
$656,366
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andrew S Wayne Trustee - Vice Chairman 2.0
Officer Director
$0 $0 $0
Anne M Carvalho Trustee - Vice Chairman END 5/31/24 2.0
Officer Director
$0 $0 $0
John P Boswell Trustee - Chairman 2.0
Officer Director
$0 $0 $0
Ryan B Dickerson Trustee - Sec/Treasurer 2.0
Officer Director
$0 $0 $0
Bonnie Petsche Trustee 1.0
Director
$0 $0 $0
Edwin S Ryan Trustee 1.0
Director
$0 $0 $0
Frank A Anderson Trustee END 5/31/24 1.0
Director
$0 $0 $0
Judge Jeffrey L Cureton Trustee 1.0
Director
$0 $0 $0
Laura Miller Trustee 1.0
Director
$0 $0 $0
Leah M King Trustee start 06/01/24 1.0
Director
$0 $0 $0
Michael A LaGatta Trustee 1.0
Director
$0 $0 $0
Na'im R Moses Trustee START 6/1/24 1.0
Director
$0 $0 $0
Peggy L Cassidy Trustee START 6/1/2024 1.0
Director
$0 $0 $0
Robert J Batton Trustee END 5/31/24 1.0
Director
$0 $0 $0
Thomas Breckinridge Ray Trustee 1.0
Director
$0 $0 $0
Wally Jones Trustee 1.0
Director
$0 $0 $0
Cory R Rhoades Chief Financial Officer 1.0
Officer
$0 $136,241 $1,002,449
James C Cunningham MD EVP, CMO 1.0
Officer
$0 $105,747 $1,328,523
Jonathan Nedrelow MD Associate Chief Medical Officer 1.0
Officer
$0 $101,172 $738,051
Joseph M Gallagher Sr. VP, Chief Legal Officer 1.0
Officer
$0 $138,911 $1,022,881
Mary Cara Martz Secretary 1.0
Officer
$0 $21,095 $205,002
Nancy C Cychol President/Chief Hospital Services 1.0
Officer
$420,732 $107,119 $1,309,211
Rick W Merrill CEO 2.0
Officer
$137,772 $550,074 $3,305,517
Spencer D Seals VP Construction & Real Estate 1.0
Officer
$0 $84,754 $488,249
Stanley E Davis Sr. VP, Chief Operating Officer 1.0
Officer
$0 $145,429 $1,074,534
Stephen W Kimmel EVP, System Finance 2.0
Officer
$48,707 $175,382 $1,393,062
Theresa Z Meadows Sr. VP, Chief Information Officer 1.0
Officer
$0 $86,011 $933,653
Kevin Greene VP, Prosper Medical Center 40.0
Key Emp
$299,394 $62,629 $362,023
Sheralyn Hartline AVP, Nursing & Patient Care 40.0
Key Emp
$250,334 $44,009 $294,343
Abigail Reed Manager, Pharmacy, Retail, CCMCP 40.0
Highest
$161,267 $30,473 $191,740
Clifford Ho Pharmacy Clinic Specialist 40.0
Highest
$190,918 $22,767 $213,685
Kristen Elzey Manager, Pharmacy Operations, CCMCP 40.0
Highest
$195,028 $11,134 $206,162
Stefanie Tanner Director, Nurse & Patient Care 40.0
Highest
$186,752 $38,628 $225,380
Tri Tran Pharmacist, CCMCP 40.0
Highest
$175,713 $25,457 $201,170
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 $104,690,685 $129,431,422 $288,609,811 $-24,740,737
2023 $50,141,080 $92,976,629 $243,010,723 $-42,835,549
2022 $25,344 $13,552,732 $170,694,010 $-13,527,388
2021 No data $46,601 $59,107,939 No data
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