Overview
What is Hospital Development Co?
Hospital Development Co, doing business as Roane General Hospital, is a nonprofit organization located at 200 Hospital Drive, Spencer, WV (25276). Their mission is to enhance the health and wellbeing of their community by operating hospitals, nursing schools, nursing homes, and medical research facilities. They generate substantial revenue, with a significant portion of it being uncollectible due to agreements with Medicare, Medicaid, and other third-party payors. Bad debts from patients' inability or unwillingness to pay reached $2,962,219, while charges for those below the 200% poverty level and eligible for charity care amounted to $460,058. With a workforce of 409 employees, Roane General Hospital is committed to providing quality and cost-effective healthcare services to all members of their community.
Official website here: www.roanegeneralhospital.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Hospital Development Co has received a solid Three-Star rating from Charity Navigator, reflecting a commendable score of 83%. This rating is based entirely on the accountability and finance criteria, indicating that the organization has a strong focus on responsible financial practices and governance. Notably, the charity has an excellent record of independent board members and adheres to various policies that promote transparency and accountability.
The organization demonstrates robust financial oversight, with an audit and oversight committee that received full points. The absence of material asset diversion and the presence of necessary governance policies, such as conflict of interest and whistleblower policies, showcase its commitment to ethical standards. Additionally, the program expense ratio of 76.18% indicates that a significant portion of its funds is allocated directly to its programs.
However, the liabilities to assets ratio of 67.02% suggests some level of financial risk, which may be a point of concern for potential donors. While the charity exhibits strong governance and accountability, prospective supporters should consider this financial metric as part of their decision-making process. Overall, Hospital Development Co appears to operate with integrity and transparency, making it a viable option for philanthropy.
This AI summary has been generated from information found on Charity Navigator.
Is Hospital Development Co legitimate?
Hospital Development Co is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hospital Development Co 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: $1,524,469
Professional Fundraising Fees: $0
Other Salaries and Wages: $20,342,002
For more financial information, click here
Official website here: www.roanegeneralhospital.com
What is the mission statement of Hospital Development Co?
Hospital Development Company is committed to improving the health and wellbeing of communities by preventing and treating diseases, as well as promoting personal and public health. Their activities include operating hospitals, nursing schools, nursing homes, and medical research facilities, and fostering education in medicine and related fields. The organization is dedicated to delivering high-quality, affordable healthcare to all community members, making a significant difference in people's lives. Despite generating significant revenue, a considerable portion goes towards uncollectible debts due to contractual agreements with insurance providers and the write-off of charity care for those in need.
Official website here: www.roanegeneralhospital.com
Who is the CEO of Hospital Development Co?
Douglas Bentz is the Board President of Hospital Development Co. The CEO's salary of Hospital Development Co is $380,212 and their total compensation is $410,720.
Official website here: www.roanegeneralhospital.com
What is the revenue of Hospital Development Co?
Hospital Development Co's revenue in 2022 was $56,627,091.
Official website here: www.roanegeneralhospital.com
Who are the executives of Hospital Development Co and what are their salaries?
The average compensation at Hospital Development Co during 2022 was $53,463. There are 409 employees and 26 volunteers at Hospital Development Co.
Here are 21 key members and their salaries (Hospital Development Co's CEO's salary is $380,212 and their total compensation is $410,720):
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- Compensation: $0
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- Other: $0
- Compensation: $380,212
- Related: $0
- Other: $30,508
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- Compensation: $611,476
- Related: $0
- Other: $37,623
- Compensation: $168,010
- Related: $0
- Other: $20,428
- Compensation: $210,024
- Related: $0
- Other: $27,497
- Compensation: $551,583
- Related: $0
- Other: $37,119
- Compensation: $480,311
- Related: $0
- Other: $34,763
- Compensation: $561,033
- Related: $0
- Other: $36,801
- Compensation: $386,602
- Related: $0
- Other: $37,623
- Compensation: $458,503
- Related: $0
- Other: $11,768
- Compensation: $377,280
- Related: $0
- Other: $37,623
Official website here: www.roanegeneralhospital.com
Where can I find the form 990 for Hospital Development Co?
Hospital Development Co's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.roanegeneralhospital.com
Learn more at the official website: www.roanegeneralhospital.com
Mission Statement of Hospital Development Co
Hospital Development Co, a dedicated organization, strives to enhance the overall health and wellbeing of communities by employing various methods to prevent and treat illnesses. Through legitimate means, this nonprofit focuses on operating hospitals, nursing schools, nursing homes, and medical research facilities. In addition, it supports education in medicine and related sciences such as nursing and technical training that aid in disease diagnosis, treatment, care, and prevention.
Hospital Development Co's central mission, as embodied by Roane General Hospital, is to provide quality and cost-effective healthcare to all community members. The hospital's team members are committed to making a difference in people's lives through their work. Despite generating substantial revenue of $111,935,758, the organization faced significant financial challenges. Contractual agreements with insurance providers like Medicare, Medicaid, and third-party payors accounted for $62,244,357 in uncollectible revenue. Furthermore, bad debts due to patients' inability or unwillingness to pay amounted to $2,962,219. Charity care for patients meeting the 200% poverty level resulted in additional charges being written off, totaling $460,058. Despite these financial hurdles, Hospital Development Co continues to strive towards its mission of promoting health and wellbeing in the community.
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Impact
October, 2024
Hospital Development Co significantly impacts the health and welfare of Roane County and its surrounding areas by promoting effective methods for disease prevention and treatment. The organization operates essential healthcare facilities, such as Roane General Hospital, which serves as a cornerstone for medical services in the community.
In 2022, Roane General Hospital generated gross revenues of approximately $111.9 million, reflecting its essential role in local healthcare delivery. However, a substantial portion of this revenue, over $62 million, was uncollectible due to contractual agreements with Medicare, Medicaid, and other third-party payors, underscoring the challenges faced in sustaining financial viability while providing care. Additionally, nearly $3 million in bad debts arose from patients unable or unwilling to pay, highlighting the socioeconomic factors affecting community health access.
The organization also demonstrates a commitment to supporting vulnerable populations. Charges for charity care, amounting to over $460,000 for patients meeting 200% of the poverty level, were written off, ensuring that those in need continue to receive necessary medical services without financial burden.
Through its focus on high-quality, cost-effective healthcare, Hospital Development Co plays a vital role in addressing the healthcare needs of the community, fostering education in medical fields, and contributing to the overall improvement of public health. Its efforts not only enhance individual well-being but also strengthen the fabric of the community by ensuring access to essential health services for all residents.
This information is meant to be a general summary of Hospital Development Co. 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: $144,596
- Program Service Revenue: $51,962,479
- Gross Receipts: $56,627,091
Assets and Liabilities:
- Total Assets: $49,105,663
- Total Liabilities: $32,895,036
- Net Assets: $16,210,627
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Patient services
Revenue
$51,052,259
Pharmacy-340B Program
Revenue
$780,735
Wellness center
Revenue
$129,485
Organization Details
Founding Year
1966
Phone
(304) 927-4444Principal Officer
Douglas Bentz
Main Address
200 Hospital Drive, Spencer, WV, 25276
Website
www.roanegeneralhospital.comNTEE Category
Code: E22 - Health
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