Overview
What is Licking Memorial Professional Corporation?
Licking Memorial Professional Corporation, situated in Newark, Ohio, is a nonprofit organization dedicated to enhancing community health. With a workforce of 590 employees, they provide essential healthcare services to individuals covered by governmental programs, often at reduced costs. Their uncompensated care, totaling approximately $38 million in charges in 2022, includes bad debts and charity care. The organization's mission is to deliver uncompensated care through various reduced-price services and free programs based on community needs. Licking Memorial Professional Corporation regularly extends care to patients unable to pay their bills. In summary, this nonprofit corporation is devoted to improving the health and well-being of the community it serves.
Official website here: www.lmhealth.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81% (Three-Star out of Four Star rating)
Licking Memorial Professional Corporation has earned a solid reputation with an overall rating of 81%, reflecting a strong commitment to accountability and finance. The score is solely derived from the Accountability & Finance beacon, indicating a robust focus on responsible financial management practices. The organization demonstrates full compliance with essential policies, such as conflict of interest and whistleblower protections, contributing to its positive standing.
The nonprofit's governance is bolstered by an entirely independent board, which enhances its credibility. The board's composition and size have been positively rated, showing a commitment to transparency and independence in decision-making processes. Additionally, Licking Memorial has maintained strong financial oversight, as evidenced by its excellent audit and oversight practices.
Despite its strengths, the organization faced a notable limitation in the Liabilities to Assets ratio, receiving no points in this area. This suggests potential concerns regarding financial stability, which may warrant further scrutiny. However, the high program expense ratio indicates a significant investment in its mission-related activities, reflecting a focus on delivering value to its beneficiaries.
This AI summary has been generated from information found on Charity Navigator.
Is Licking Memorial Professional Corporation legitimate?
Licking Memorial Professional Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Licking Memorial Professional Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $293,970
Professional Fundraising Fees: $0
Other Salaries and Wages: $67,783,030
For more financial information, click here
Official website here: www.lmhealth.org
What is the mission statement of Licking Memorial Professional Corporation?
Licking Memorial Professional Corporation is dedicated to enhancing the health of the community they serve. The corporation's mission is to provide care to individuals covered by governmental programs, often at reduced costs. Unrecoverable charges from underpayments amounted to over $34 million in 2022. The corporation offers various reduced-price services and free programs to address community health needs. Licking Memorial Professional Corporation frequently extends care to patients who are unable or unwilling to pay their bills. In 2022, they wrote off approximately $2.8 million in bad debts and $810,000 in charity care.
Official website here: www.lmhealth.org
Who is the CEO of Licking Memorial Professional Corporation?
Robert Montagnese is the President & Ceo, Ex Officio W/O Vote of Licking Memorial Professional Corporation. The CEO's salary of Licking Memorial Professional Corporation is $0 and their total compensation is $872,708.
Official website here: www.lmhealth.org
What is the revenue of Licking Memorial Professional Corporation?
Licking Memorial Professional Corporation's revenue in 2022 was $50,481,959.
Official website here: www.lmhealth.org
Who are the executives of Licking Memorial Professional Corporation and what are their salaries?
The average compensation at Licking Memorial Professional Corporation during 2022 was $115,385. There are 590 employees and 8 volunteers at Licking Memorial Professional Corporation.
Here are 16 key members and their salaries (Licking Memorial Professional Corporation's CEO's salary is $0 and their total compensation is $872,708):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $822,340
- Other: $50,368
- Compensation: $0
- Related: $316,539
- Other: $26,619
- Compensation: $252,242
- Related: $0
- Other: $41,728
- Compensation: $1,435,397
- Related: $0
- Other: $54,482
- Compensation: $1,072,389
- Related: $0
- Other: $52,047
- Compensation: $942,172
- Related: $0
- Other: $51,173
- Compensation: $868,847
- Related: $0
- Other: $50,681
- Compensation: $853,498
- Related: $0
- Other: $50,577
Official website here: www.lmhealth.org
Where can I find the form 990 for Licking Memorial Professional Corporation?
Licking Memorial Professional Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lmhealth.org
Learn more at the official website: www.lmhealth.org
Mission Statement of Licking Memorial Professional Corporation
Licking Memorial Professional Corporation (LMPC) is a dedicated organization that strives to enhance the health and wellbeing of the community. With a strong commitment to its mission, LMPC exists to provide essential healthcare services to individuals covered by governmental programs, often offering care at reduced costs. In many instances, LMPC absorbs the difference between the reimbursement and the charges, treating these amounts as contractual adjustments rather than collectible debts.
In the year 2022, LMPC extended uncompensated care to the value of $37.58 million through various reduced-price services and free programs. These offerings were designed to serve the community's health needs, reflecting LMPC's belief in addressing unmet requirements and aiding those who are unable to pay their bills. The organization's selflessness extended to the write-off of approximately $2.77 million in bad debts and $810,000 in charity care. With such unwavering dedication, LMPC continues to be a beacon of hope, ensuring access to vital healthcare services for those in need.
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Impact
October, 2024
Licking Memorial Professional Corporation (LMPC) significantly impacts community health by providing essential medical services to individuals who may otherwise lack access to care. By serving patients covered by governmental programs and offering services below cost, LMPC alleviates financial barriers to health services. In 2022 alone, the corporation reported an uncompensated care value of approximately $34.8 million, reflecting its commitment to addressing the needs of underserved populations.
LMPC plays a vital role in supporting community health through various programs that include reduced-price services and free healthcare initiatives. These programs are specifically designed to meet genuine health needs within the community. Additionally, LMPC routinely assists patients who are unable or unwilling to pay their medical bills. In that same year, the organization wrote off around $2.8 million in bad debts and provided $810,000 in charity care, further showcasing its dedication to ensuring that financial constraints do not hinder access to necessary medical care.
Overall, LMPC's efforts not only enhance individual health outcomes but also contribute to the overall well-being of the Newark community, fostering a healthier population.
This information is meant to be a general summary of Licking Memorial Professional Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,723
- Program Service Revenue: $48,894,464
- Gross Receipts: $50,481,959
Assets and Liabilities:
- Total Assets: $21,796,673
- Total Liabilities: $21,726,483
- Net Assets: $70,190
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PHYSICAN SERVICES
Revenue
$48,894,464
Organization Details
Founding Year
1996
Phone
(220) 564-4528Principal Officer
Robert Montagnese
Main Address
1320 WEST MAIN STREET, NEWARK, OH, 430553699
Website
www.lmhealth.orgNTEE Category
Code: E32 - Health
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