Overview
What is Thorek Memorial Hospital?
Thorek Memorial Hospital is a Chicago-based institution dedicated to delivering quality healthcare services regardless of race, creed, sex, national origin, disability, age, or ability to pay. With a commitment to serving their community, they provide essential medical care to individuals in need, offering free or subsidized services to those unable to pay. Their mission encompasses providing patient care, promoting wellness, and supporting education. Thorek Memorial Hospital is proud of its caring and cost-effective approach, striving to meet the needs of patients, physicians, employees, and the community. They aim to provide quality services, encourage employee excellence, and act as a responsible member of their community and the healthcare delivery system.
Official website here: www.thorek.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
Thorek Memorial Hospital has achieved a high level of accountability and finance, reflected in its excellent 96% score. This rating is based entirely on its performance in the Accountability & Finance category, demonstrating a robust commitment to transparency and responsible financial practices. The organization has successfully maintained a strong independent board, with 83% of its members being independent, which contributes to its governance effectiveness.
The hospital showcases a solid financial health, indicated by a low liabilities to assets ratio of 4.55% and a significant program expense ratio of 80.34%. This shows that a large portion of its expenses is allocated directly towards its programs, ensuring that it fulfills its mission effectively. Additionally, the presence of a well-structured audit and oversight committee strengthens the hospital's financial management and accountability.
While the data indicates strong performance in accountability, it is important for potential supporters to consider the overall impact and services provided by the hospital beyond financial metrics. The high scores reflect a commitment to good practices, but users may want to seek more information on program outcomes and community engagement initiatives to fully assess the organization's effectiveness in meeting its healthcare mission.
This AI summary has been generated from information found on Charity Navigator.
Is Thorek Memorial Hospital legitimate?
Thorek Memorial Hospital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thorek 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: $2,429,437
Professional Fundraising Fees: $0
Other Salaries and Wages: $33,409,186
For more financial information, click here
Official website here: www.thorek.org
What is the mission statement of Thorek Memorial Hospital?
Thorek Memorial Hospital is dedicated to delivering quality patient care and promoting wellness. The institution is committed to serving its patients, physicians, employees, and community by providing appropriate and cost-effective services. Thorek Memorial Hospital strives for excellence among its employees and supports education. It also aims to act responsibly within its community and the healthcare delivery system. The hospital's mission includes providing quality services and encouraging employee excellence.
Official website here: www.thorek.org
Who is the CEO of Thorek Memorial Hospital?
Tim Heinrich is the Coo & Corp Svcs. of Thorek Memorial Hospital.
Official website here: www.thorek.org
What is the revenue of Thorek Memorial Hospital?
Thorek Memorial Hospital's revenue in 2022 was $124,803,046.
Official website here: www.thorek.org
Who are the executives of Thorek Memorial Hospital and what are their salaries?
The average compensation at Thorek Memorial Hospital during 2022 was $48,106. There are 745 employees and 6 volunteers at Thorek Memorial Hospital.
Here are 16 key members and their salaries:
- Compensation: $506,212
- Related: $0
- Other: $1,284
- Compensation: $443,176
- Related: $0
- Other: $321
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $30,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $500,159
- Related: $0
- Other: $17,329
- Compensation: $370,470
- Related: $0
- Other: $17,329
- Compensation: $323,330
- Related: $0
- Other: $7,543
- Compensation: $350,438
- Related: $0
- Other: $6,892
- Compensation: $431,854
- Related: $0
- Other: $6,901
- Compensation: $251,141
- Related: $0
- Other: $0
- Compensation: $223,467
- Related: $0
- Other: $0
- Compensation: $233,187
- Related: $0
- Other: $13,048
Official website here: www.thorek.org
Where can I find the form 990 for Thorek Memorial Hospital?
Thorek Memorial Hospital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.thorek.org
Learn more at the official website: www.thorek.org
Mission Statement of Thorek Memorial Hospital
Thorek Memorial Hospital is a dedicated institution, committed to delivering quality patient care, fostering wellness, and encouraging education. The organization takes pride in serving a diverse patient base, including individuals, physicians, and employees, all while maintaining an efficient and cost-effective approach. Thorek Memorial Hospital's primary goal is to cater to its patients with compassion, ensuring their healthcare needs are met with the utmost care and respect.
Beyond its patient care services, Thorek Memorial Hospital is deeply invested in the professional growth of its employees. By fostering a culture of excellence, the hospital encourages its team members to reach their full potential, leading to improved patient outcomes and a stronger healthcare community. Thorek Memorial Hospital's commitment to education extends beyond its walls, as it strives to be a responsible member of the healthcare system and a valuable contributor to the broader community. The institution is deeply rooted in the belief that quality services, employee satisfaction, and community engagement are the cornerstones of a successful and sustainable healthcare organization.
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Impact
October, 2024
Thorek Memorial Hospital significantly impacts the community by providing quality medical care and promoting wellness for all individuals, regardless of their background or financial situation. The hospital prioritizes accessible healthcare, ensuring that essential medical services are available to those who may struggle to pay. This commitment to service includes offering free or subsidized care to individuals in need, thereby addressing critical health disparities in the community.
In addition to direct patient care, Thorek Memorial Hospital supports health education and community wellness programs, strengthening the overall health infrastructure in Chicago. By prioritizing the well-being of its patients and actively engaging in community health initiatives, the hospital plays an essential role in fostering a healthier population and enhancing quality of life for residents. Through its dedicated services and commitment to education, Thorek Memorial Hospital not only meets immediate healthcare needs but also contributes to long-term health improvements and awareness within the community.
This information is meant to be a general summary of Thorek 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: $13,378,967
- Program Service Revenue: $104,580,742
- Gross Receipts: $137,901,136
Assets and Liabilities:
- Total Assets: $462,572,422
- Total Liabilities: $23,634,660
- Net Assets: $438,937,762
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$68,696,660
MEDICAID ASSESSMENT
Revenue
$34,090,681
RESIDENT FEES
Revenue
$1,793,401
Organization Details
Founding Year
1911
Phone
(773) 975-6806Principal Officer
Tim Heinrich
Main Address
850 W IRVING PARK ROAD, CHICAGO, IL, 60613
Website
www.thorek.orgNTEE Category
Code: E220 - Health
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