Memorial Regional Medical Center Inc
ACUTE CARE HOSPITAL
IRS Tax Year 2019
Period ending December 31, 2019
Total Revenue
$143.8M
Total Expenses
$138.3M
Net Assets
$0
Employees
2,287
Volunteers
408
Grants Paid
$45K
Program Expense Ratio
79.9%
This nonprofit profile presents IRS Form 990 tax filing data for Memorial Regional Medical Center Inc (EIN: 54-1744931), based on the 2019 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
Chat with Memorial Regional Medical Center Inc's data & any nonprofit
Coming SoonCompare organizations, analyze trends, and ask questions about Memorial Regional Medical Center Inc's finances, compensation, and programs — or any other nonprofit — using our AI-powered research assistant.
Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Memorial Regional Medical Center Inc is a 501(c)(3) nonprofit headquartered in Richmond, VA, founded in 1994. In its 2019 filing, the organization reported $143.8M in total revenue, and $138.3M in total expenses. The organization employed 2,287 people and engaged 408 volunteers. , Cardiologist, is the highest-compensated individual at $1,214,853. The organization runs 1 program, totaling $110.5M in program expenses. 4 of 6 recommended governance policies are in place.
Programs(Tax Year 2019)
1 record
Memorial Regional Medical Center Inc operates 1 program, with total program expenses of $110.5M. Memorial Regional Medical Center Inc's largest program accounts for 100% of total program spending.
Provide health and wellness for the surrounding community through a holistic approach. Services are provided to all regardless of their socio-economic status in various healthcare settings including a hospital, medical office, and at home. Bon Secours Memorial College of Nursing provides compassionate care to those in need, and extends this mission by educating nurses in a spirit of academic and clinical excellence to service our community with genuine compassion and the highest clinical standards.
Financial Overview(Tax Years 2019–2019)
1 record
Memorial Regional Medical Center Inc derives 0% from contributions and grants, with 99% from program services, with 0% from investment income.
Revenue is heavily concentrated: 99% comes from program service revenue, indicating limited diversification.
Memorial Regional Medical Center Inc allocates 80% to programs, 20% to management and general.
Memorial Regional Medical Center Inc distributed $45K in grants to other organizations and individuals, representing 0% of total expenses.
Memorial Regional Medical Center Inc holds $0 in total assets against $0 in liabilities. Cash and equivalents of $0 cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2019 | $143.8M | $218K | $0 | $142.2M | $504K |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2019 | $138.3M | $110.5M | $27.7M | $0 | $45K |
Program Expense Ratio
79.9%
Admin Expense Ratio
20.1%
Fundraising Efficiency
—
Operating Reserve
0.0 mo
People & Compensation(Tax Year 2019)
35 records
Memorial Regional Medical Center Inc reported compensation for 35 officers and key employees. Total officer compensation was $10.2M, representing 7.4% of total expenses. 8 individuals received total compensation exceeding $500,000.
Memorial Regional Medical Center Inc's highest-compensated individual received $1.2M in total compensation. Total officer compensation of $10.2M represents 7.4% of total expenses. 2 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| Cardiologist | Highest Comp | 50.00 | $1,170,031 | $0 | $1,214,853 | |
| Interim CEO - Richmond | OfficerDirector | 5.00 | $0 | $710,569 | $1,036,347 | |
| Cardiologist | Highest Comp | 50.00 | $879,315 | $0 | $924,137 | |
| Physician | Highest Comp | 50.00 | $842,367 | $0 | $894,083 | |
| Cardiologist | Highest Comp | 50.00 | $816,061 | $0 | $832,620 | |
| Cardiologist | Highest Comp | 50.00 | $714,648 | $0 | $756,907 | |
| Former CEO-BSV | Former | — | $0 | $593,293 | $610,093 | |
| Treasurer, CFO - Richmond Market | Officer | 5.00 | $0 | $457,872 | $513,972 | |
| Former CEO - MRMC & RCH | Former | — | $0 | $449,681 | $477,650 | |
| CEO - MRMC & RCH | Officer | 25.00 | $0 | $377,868 | $469,269 | |
| CMO-MRMC | Key Employee | 50.00 | $402,345 | $0 | $448,775 | |
| Former SVP HR - Richmond | Former | — | $0 | $342,880 | $368,509 | |
| Former Key, VP-CNE | Former | — | $307,823 | $0 | $361,700 | |
| Secretary | Officer | 2.00 | $0 | $241,551 | $284,375 | |
| President/CEO - Richmond | OfficerDirector | 2.00 | $0 | $246,696 | $281,175 | |
| VP - Patient Care Services | Key Employee | 30.00 | $216,425 | $0 | $248,302 | |
| VP HR - Richmond | Key Employee | 8.00 | $0 | $184,373 | $238,682 | |
| Former VP Orthopedics | Former | — | $0 | $208,176 | $209,682 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| President | OfficerDirector | 5.00 | $0 | $0 | $0 | |
| Chairman | OfficerDirector | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 2.00 | $0 | $0 | $0 | |
| Board Member | Director | 10.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
Toni Ardabell
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Faraaz Yousuf
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Brian White
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Mark Gordon
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Stephan Quiriconi
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Rhodes Ritenour
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Leigh Sewell
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
James McNamara
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
James Godwin
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Jill KENNEDY
Base Salary
$290,692
Bonus
$16,445
Other Reportable
$686
Retirement/Deferred
$25,755
Nontaxable Benefits
$28,122
Paul Junod
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Robin Johnson
Base Salary
$203,966
Bonus
$11,623
Other Reportable
$836
Retirement/Deferred
$11,148
Nontaxable Benefits
$20,729
Yvette Johnson-Threat
Base Salary
$379,749
Bonus
$21,564
Other Reportable
$1,032
Retirement/Deferred
$14,000
Nontaxable Benefits
$32,430
Harpreet Grewal MD
Base Salary
$539,222
Bonus
$630,403
Other Reportable
$406
Retirement/Deferred
$14,000
Nontaxable Benefits
$30,822
Mohammad Chaudhry MD
Base Salary
$339,231
Bonus
$539,558
Other Reportable
$526
Retirement/Deferred
$14,000
Nontaxable Benefits
$30,822
Pindipapanahall Ravindra MD
Base Salary
$548,977
Bonus
$265,704
Other Reportable
$1,380
Retirement/Deferred
$14,000
Nontaxable Benefits
$2,559
Michael Wittkamp MD
Base Salary
$416,513
Bonus
$297,671
Other Reportable
$464
Retirement/Deferred
$14,000
Nontaxable Benefits
$28,259
Kumar Abhishek MD
Base Salary
$387,690
Bonus
$454,271
Other Reportable
$406
Retirement/Deferred
$14,000
Nontaxable Benefits
$37,716
Top Contractors(Tax Year 2019)
5 records
Memorial Regional Medical Center Inc reported 5 contractors receiving over $100,000, with total contractor payments of $28.7M.
| Name | Service | Compensation |
|---|---|---|
| US BANK CORPORATE TRUST (SHIFTWISE) | CONTRACT NURSING | $8,498,333 |
| ATHENAHEALTH INC | PHYSICIAN BILLING SERVICE | $5,766,646 |
| TRIMEDX INC | Clinical Asset Management | $5,185,622 |
| MORRISON MGT SPECIALISTS | DIETARY SERVICES | $4,856,399 |
| PRIMEDOC OF RICHMOND PC | PHYSICIAN SERVICES | $4,431,753 |
Governance & Compliance(Tax Year 2019)
Memorial Regional Medical Center Inc has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 17 members, 16 of whom are independent.
Memorial Regional Medical Center Inc's financial statements are audited, an audit committee oversees the process, the organization is subject to a federal grant audit (Single Audit).
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2019)
4 records
Memorial Regional Medical Center Inc awarded $31K across 1 grant to organizations. Top recipients include Bon Secours Richmond Healthcare Foundation (Richmond, VA) — $31K for mission support. The organization also provided grants to individuals (179 recipients) totaling $12K, including col of nursing student eap, indigent cab fare, fed supplemental education opp grant.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| Bon Secours Richmond Healthcare Foundation541201346 | Richmond, VA | $31K | MISSION SUPPORT |
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| COL OF NURSING STUDENT EAP | 2 | $7K |
| INDIGENT CAB FARE | 112 | $3K |
| FED SUPPLEMENTAL EDUCATION OPP GRANT | 65 | $2K |
Supplemental Financial Data(Tax Year 2019)
The endowment stands at $120K.
Filing History(Tax Years 1994–2019)
1 record
Showing the 1 Form 990 filing currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2019 | 990 | 2019-09-01 – 2019-12-31 | $143.8M | $138.3M | $0 |
| 1994–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Memorial Regional Medical Center Inc do?
ACUTE CARE HOSPITAL
How much revenue does Memorial Regional Medical Center Inc have?
Memorial Regional Medical Center Inc reported $143,789,803 in total revenue for tax year 2019.
Who is the highest-paid executive at Memorial Regional Medical Center Inc?
, Cardiologist, received $1,214,853 in total compensation as of tax year 2019.
Is Memorial Regional Medical Center Inc a 501(c)(3)?
Yes, Memorial Regional Medical Center Inc is classified as a 501(c)(3) tax-exempt organization.
Where is Memorial Regional Medical Center Inc located?
Memorial Regional Medical Center Inc is headquartered in Richmond, VA 23227.
How many employees does Memorial Regional Medical Center Inc have?
Memorial Regional Medical Center Inc has 2,287 employees and 408 volunteers as of tax year 2019.
Is Memorial Regional Medical Center Inc audited?
Yes, Memorial Regional Medical Center Inc's financial statements are audited, and the organization has an audit committee.
Does Memorial Regional Medical Center Inc give grants?
Yes, Memorial Regional Medical Center Inc distributed $45,191 in grants to other organizations and individuals in tax year 2019. Top recipients include Bon Secours Richmond Healthcare Foundation.
Data Source
Prepared by: PricewaterhouseCoopers LLP, Washington, DC
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
Ask anything about
any nonprofit
Get instant, data-backed answers about nonprofit compensation, financials, and trends. Join the waitlist for early access. Free tier included at launch.
Trusted by nonprofit professionals
3.6M+
IRS Filings
1.7M+
Organizations
28M+
Comp Records