Overview
What is Licking Memorial Hospital?
Licking Memorial Hospital, located at 1320 West Main Street in Newark, Ohio (43055), is a nonprofit institution dedicated to improving the health of the community. With 2,237 employees, they provide free-of-charge health activities and programs to the public, including wellness initiatives, community education, and specialized services for the elderly, handicapped, and medically underserved. In 2022, they served 7,482 inpatients, 805 newborns, and 345,109 outpatients, totaling 32,632 patient days. They also offer care to individuals covered by governmental programs, often at reduced prices, totaling $463,074,000 in uncompensated care that year. The hospital routinely forgives unpaid bills worth approximately $23,735,000 in bad debts and $7,607,000 in charity care.
Official website here: www.lmhealth.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Licking Memorial Hospital has achieved a Four-Star rating from Charity Navigator, which reflects a strong commitment to accountability and finance. The organization received a perfect score in several key areas, including the independence of its board members and financial oversight, indicating a high level of governance and transparency.
The nonprofit demonstrates impressive financial health, with a program expense ratio of 93.21%, signifying that a significant portion of its budget directly supports its programs. Additionally, the hospital has no recorded material diversions of assets, which highlights its dedication to ethical management and effective resource allocation.
While the data showcases multiple strengths, including a robust conflict of interest policy and a comprehensive document retention strategy, it is essential for potential supporters to consider the overall impact and reach of the hospital's programs within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Licking Memorial Hospital legitimate?
Licking Memorial Hospital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Licking Memorial Hospital 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: $1,215,867
Professional Fundraising Fees: $0
Other Salaries and Wages: $111,768,389
For more financial information, click here
Official website here: www.lmhealth.org
What is the mission statement of Licking Memorial Hospital?
Licking Memorial Hospital is committed to enhancing the health and wellbeing of the community it serves. Through various health activities and programs, the hospital aims to make a positive impact on the lives of individuals. These initiatives encompass wellness programs, community education, and special services for the elderly, disabled, and medically underserved. In 2022, the hospital provided care to 7,482 inpatients, 805 newborns, and 345,109 outpatients, with a significant portion of this care going to patients covered by governmental programs. The hospital absorbs the cost of providing care to these patients, totaling over $463 million in uncompensated care for the year. Licking Memorial Hospital continues to extend care to patients who are unable or unwilling to pay their bills, writing off approximately $23.7 million in bad debts and $7.6 million in charity care.
Official website here: www.lmhealth.org
Who is the CEO of Licking Memorial Hospital?
Robert A Montagnese is the Principal Officer of Licking Memorial Hospital. The CEO's salary of Licking Memorial Hospital is $822,340 and their total compensation is $872,708.
Official website here: www.lmhealth.org
What is the revenue of Licking Memorial Hospital?
Licking Memorial Hospital's revenue in 2022 was $331,971,487.
Official website here: www.lmhealth.org
Who are the executives of Licking Memorial Hospital and what are their salaries?
The average compensation at Licking Memorial Hospital during 2022 was $50,507. There are 2237 employees and 155 volunteers at Licking Memorial Hospital.
Here are 20 key members and their salaries (Licking Memorial Hospital's CEO's salary is $822,340 and their total compensation is $872,708):
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- Compensation: $822,340
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- Other: $50,368
- Compensation: $316,539
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- Compensation: $365,843
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- Compensation: $260,915
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- Other: $36,683
- Compensation: $257,640
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- Other: $24,185
- Compensation: $249,459
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- Other: $19,204
Official website here: www.lmhealth.org
Where can I find the form 990 for Licking Memorial Hospital?
Licking Memorial Hospital'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 Hospital
Licking Memorial Hospital, a dedicated community health improvement initiative, strives to enhance the well-being of individuals in its care. The organization's primary objective is to deliver a range of health activities and programs, accessible free of charge, to cater to the diverse needs of the population. These offerings encompass wellness programs, community education initiatives, and specialized services for the elderly, handicapped, and medically underprivileged.
Throughout the year, Licking Memorial Hospital extends its reach beyond the hospital walls by implementing various reduced price services and free programs based on identified community health needs. These initiatives aim to foster a healthier community and provide essential resources to those who might otherwise be unable to access them.
In the past year, Licking Memorial Hospital served a considerable number of patients, with a total of 7,482 inpatients and 805 newborns, translating to 32,632 patient days. Furthermore, the organization provided care to a substantial number of patients covered by governmental programs, often offering services below cost. In 2022, the hospital wrote off approximately $23,735,000 in bad debts and $7,607,000 in charity care, further illustrating their commitment to providing uncompensated care to those unwilling or unable to pay. By extending compassionate care and resources to these individuals, Licking Memorial Hospital plays a pivotal role in addressing the health needs of its community, ultimately striving to improve overall well-being and quality of life.
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Impact
October, 2024
Licking Memorial Hospital plays a vital role in enhancing the health of the Newark community and its surrounding areas. Through a range of health activities and programs offered free of charge, the hospital directly addresses community needs, with a focus on wellness, education, and support for vulnerable populations, including the elderly, handicapped, and medically underserved individuals.
In 2022, the hospital served over 7,400 inpatients and 805 newborns, contributing to a total of more than 32,600 patient days. Additionally, Licking Memorial Hospital provided services to an impressive 345,109 outpatients, highlighting its significant presence in the community’s healthcare landscape.
The hospital also demonstrates its commitment to accessibility by offering care to patients covered by governmental programs, often at a loss. In 2022, the unremunerated value of this care amounted to around $463 million. This figure reflects not only the financial challenges associated with providing quality healthcare but also the hospital's dedication to serving those who might otherwise lack access to necessary medical services.
Furthering its support for the community, Licking Memorial Hospital offers many reduced-price services and free programs tailored to meet genuine health needs. In 2022, the hospital wrote off approximately $23.7 million in bad debts and provided about $7.6 million in charity care, ensuring that financial barriers do not prevent individuals from receiving essential services.
Through these initiatives, Licking Memorial Hospital significantly impacts the health and well-being of the community, making strides to improve overall health outcomes and ensure that quality care is accessible to all residents.
This information is meant to be a general summary of Licking Memorial Hospital. 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: $849,080
- Program Service Revenue: $324,757,441
- Gross Receipts: $337,347,991
Assets and Liabilities:
- Total Assets: $192,905,009
- Total Liabilities: $71,273,588
- Net Assets: $121,631,421
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PATIENT REVENUE
Revenue
$323,919,620
HOME HEALTH CARE
Revenue
$837,821
Organization Details
Founding Year
1898
Phone
(220) 564-4528Principal Officer
Robert A Montagnese
Main Address
1320 WEST MAIN STREET, NEWARK, OH, 43055
Website
www.lmhealth.orgNTEE Category
Code: E220 - Health
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