Valley Baptist Medical Development Corporation in Harlingen, Texas (TX)

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Valley Baptist Medical Development Corporation
Employer Identification Number (EIN)742028168
Name of OrganizationValley Baptist Medical Development Corporation
In Care of NameMcney Cpa
Address2101 Pease St, Harlingen, TX 78550-8307
ActivitiesGifts, grants, or loans to other organizations, Community health planning
SubsectionCharitable Organization
Ruling Date05/1979
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period08/2010
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$33,672,695
Amount of Income$10,103,979
Form 990 Revenue Amount$9,659,748
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Health Treatment Facilities, Primarily Outpatient


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Amount of income in 2010: $10,103,979
This organization: 

 $10,103,979
Other organizations performing similar types of work: 

 $8,637,688

Assets in 2010: $33,672,695
Valley Baptist Medical Development Corporation: 

 $33,672,695
Other organizations performing similar types of work: 

 $3,730,983

Expenses in 2007: $13,853,097
This organization: 

 $13,853,097
Other organizations performing similar types of work: 

 $9,719,030

Income to expenses ratio in 2007: 1.0
Valley Baptist Medical Development Corporation: 

 1.0
Other organizations performing similar types of work: 

 0.9

Expenses allocated to program services in 2007: 96.2%
Valley Baptist Medical Development Corporation: 

 96.2%
Other organizations performing similar types of work: 

 88.8%

Number of employees in 2007: 29
Valley Baptist Medical Development Corporation: 

 29
Other organizations performing similar types of work: 

 68

Employees paid over $50,000 in 2007: 96.6%
Valley Baptist Medical Development Corporation: 

 96.6%
Other organizations performing similar types of work: 

 24.1%

Grants share in income in 2007: 0.2%
This organization: 

 0.2%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$2,764,631$2,565,442$2,289,303$2,384,910$6,674,358$6,543,171$10,027,783$14,046,196
Contributions, gifts, grants, and similar amounts received$234,447$202,038$188,388$211,516$253,460$51,745$27,289$22,465
Contributions to donor advised funds$0$0
Direct public support$234,447$202,038$188,388$211,516$253,460$51,745$27,289$22,465
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$1,985,890$1,922,754$1,832,463$1,515,734$5,716,186$5,902,417$9,108,151$12,034,273
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$307,506$201,284$558,803$489,468$511,879$510,137$629,740$478,304
Dividends and interest from securities$97,500$0$0$0$0$0$0$0
Net rental income or (loss)$-61,997$4,865$-152,155$-82,004$0$0$0$0
Gross rents$1,992,971$2,261,032$2,881,063$3,707,061$0$0$0$0
Less: rental expenses$2,054,968$2,256,167$3,033,218$3,789,065$0$0$0$0
Other investment income$201,285$257,641$31,809$230,431$192,833$172,422$177,680$0
Gain or (loss) from sales of assets other than inventory$0$-23,140$-170,005$0$0$-93,550$0$0
Gross amount from sales of assets other than inventory$0$7,182$403,235$0$0$0$0$0
Less: cost or other basis and sales expenses$0$30,332$573,240$0$0$93,550$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$0$0$0$19,765$0$0$84,923$1,511,154
Total expenses$2,285,269$2,297,187$1,647,914$1,827,137$6,145,766$6,257,806$6,824,185$13,853,097
Program services$1,577,811$1,614,235$1,099,416$1,188,038$4,143,500$4,543,826$3,567,174$13,323,716
Management and general$707,458$682,952$548,498$639,099$2,002,266$1,713,980$3,257,011$529,381
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$53,662,075$57,362,844$68,664,079$64,381,958$64,867,923$65,168,414$30,461,764$31,037,848
Excess or (deficit) for the year$479,363$268,255$641,380$557,773$528,592$285,365$3,203,598$193,099
Net assets or fund balances at beginning of year$41,231,995$53,662,075$56,008,443$68,664,079$64,381,958$64,867,923$65,168,414$30,461,764
Other changes in net assets or fund balances$11,950,717$3,432,514$12,014,256$-4,839,894$-42,627$15,126$-37,910,248$382,985
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$13,853,097$13,323,716$529,381$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$3,979,817$3,979,817$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$7,074,499$6,955,829$118,670$0
Pension plan contributions not included above$20,410$17,348$3,062$0
Employee benefits not included above$132,457$112,588$19,869$0
Payroll taxes$376,555$367,984$8,571$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$321,924$233,390$88,534$0
Telephone$13,909$11,823$2,086$0
Postage and shipping$748$636$112$0
Occupancy$1,113,979$946,882$167,097$0
Equipment rental and maintenance$62,189$52,861$9,328$0
Printing and publications$5,020$4,267$753$0
Travel$7,278$6,186$1,092$0
Conferences, conventions, and meetings$233$198$35$0
Interest$51,989$44,191$7,798$0
Depreciation, depletion, etc.$169,755$144,292$25,463$0
Other expenses not covered above$522,335$445,424$76,911$0
Balance Sheets
20002001200220032004200520062007
Total assets$67,277,813$69,777,885$75,418,733$66,981,527$68,004,452$67,989,969$33,295,287$35,376,358
Cash - non-interest-bearing$260,531$284,843$1,041,068$1,588,731$2,004,169$709,880$5,951,780$3,152,589
Savings and temporary cash investments$5,537,965$4,436,434$4,595,299$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$576,348$1,045,406$332,052$162,204$587,298$77,485$422,844$916,657
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,295,850$1,210,158$2,127,078$7,986,831$7,502,932$7,182,999$6,832,803$6,709,175
Inventories for sale or use$0$16,360$28,988$41,473$0$0$0$145,207
Prepaid expenses and deferred charges$1,600$5,665$92,868$4,180$4,835$0$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$1,000$0$1,000$0$1,000$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$6,451,846$6,579,487$6,507,211$8,614,108$10,127,252$10,318,079$9,310,576$3,827,925
Land, buildings, and equipment less accumulated depreciation$39,470,965$42,480,601$56,262,163$45,748,410$45,944,002$46,842,273$6,005,343$10,201,779
Other assets, including program-related investments$13,681,708$13,718,931$4,431,006$2,835,590$1,832,964$2,859,253$4,771,941$10,423,026
Total liabilities$13,615,738$12,415,040$6,754,654$2,599,569$3,136,529$2,821,555$2,833,523$4,338,510
Accounts payable and accrued expenses$348,098$367,790$475,113$0$712,113$609,499$284,198$899,647
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$18,604$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$2,599,569$2,405,812$2,212,056$2,549,325$3,438,863
Other liabilities$13,267,640$12,047,250$6,279,541$0$0$0$0$0
Total liabilities and net assets/fund balances$67,277,813$69,777,885$75,418,733$66,981,527$68,004,452$67,989,969$33,295,287$35,376,358
Total net assets or fund balances$53,662,075$57,362,845$68,664,079$64,381,958$64,867,923$65,168,414$30,461,764$31,037,848
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$2,764,631$2,565,442$-2,289,299$2,384,910$6,674,358$6,543,171$10,027,783$14,046,196
Total revenue, gains, and other support per audited financial statements$2,764,631$4,821,610$-5,322,517$6,173,975$6,361,328$6,543,171$7,494,263$8,759,786
Other expenses$0$0$0$0$-313,030$0$-4,000$5,304,164
Net unrealized gains on investments$0$0$0$0$0$0$-4,000$200,710
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$-313,028$0$0$5,103,454
Other revenue$0$-2,256,168$3,033,218$-3,789,065$0$0$2,529,520$10,590,574
Investment expenses$0$0$0$0$0$0$0$0
Other$0$-2,256,166$3,033,218$-3,789,065$0$0$2,529,520$10,590,574
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$2,285,269$2,297,187$1,647,914$1,827,137$6,145,766$6,257,806$6,824,185$13,853,097
Total expenses and losses per audited financial statements$2,285,270$4,553,353$4,681,136$5,616,196$5,832,738$6,257,806$4,294,665$7,259,594
Other revenue$0$0$0$0$0$0$0$3,997,071
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$3,997,071
Other expenses$-1$-2,256,165$-3,033,222$-3,789,059$313,028$0$2,529,520$10,590,574
Investment expenses$0$0$0$0$0$0$0$0
Other$-1$-2,256,166$-3,033,218$-3,789,059$313,028$0$2,529,520$10,590,574
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
1$2,225,298$101,615$0
1$1,412,246$123,652$0
1$367,612$49,369$0
1$11,007$0$0
1$9,140$0$0
1$308,860$8,046$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings12
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200629
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,259,478$12,764,253
Program service revenue
Program service revenue 1000000$000$0$10,582,594
Program service revenue 2000000$000$0$1,294,429
Program service revenue 3000000$000$0$157,250
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$478,304$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$781,174$729,980
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
20046372659%$5,168,832$5,796,487
13433460763%$642,407$5,107,111
010866394100%$398,293$3,166,409
74280762743%$2,687,810$2,791,110
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$392,417$43,999$0
$371,960$50,862$0
$365,504$43,999$0
$344,045$48,136$0
$328,555$43,898$0
Total number of other employees paid over $50,00019
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Information about the supported organizations
Employer identification number (EIN)Name of organizationType of organizationIs the supported organization listed in the supporting organization's governing documents?Amount of support
741385476Vb Harlingen HoldingsNo$0
742316773Golden Palms Retirement And Health CenterNo$0
741936869Valley Baptist Legacy FoundationOrganization that receives a substantial part of its support from a governmental unit or from the general publicNo$0
770634227Vb Medical HoldingsNo$0
742729113Valley Health Care NetworkNo$0
742918185Harlingen Physician Network IncNo$0
205394369Valley Baptist HoldingsOrganization that receives a substantial part of its support from a governmental unit or from the general publicNo$0
Total$0
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Valley Baptist Medical Development Corporation2101 Pease St, Harlingen, TX 78550-8307TX1979-05$10,103,979
2University Of Maryland Orthopaedic Trauma Associates P A22 South Greene Street No S11b, Baltimore, MD 21201-1544MD2006-01$8,225,853
3Mckenna Ambulatory Surgical CenterNew Braunfels, TX 78130TX$3,234,558
4Iha Health Services Corporation24 Frank Lloyd Wright Dr, Ann Arbor, MI 48105-9484MI2012-01$167,562,125
5South Shore Medical CenterPO BOX 9147, Norwell, MA 02061-9147MA2003-10$132,076,913
6University Of Louisville Physicians Inc300 E Market St Ste 400, Louisville, KY 40202-1959KY2013-06$112,350,698
7The Menninger Clinic12301 Main St, Houston, TX 77035-6207TX2003-04$57,700,275
8Prima Medical Foundation3 Hamilton Landing Ste 160, Novato, CA 94949-8257CA2014-08$40,559,086
9St Josephs Medical Pc5100 W Taft Rd Ste 3d, Liverpool, NY 13088-3809NY2014-08$37,119,659
10Anesthesiologists For Children1935 Medical District Dr, Dallas, TX 75235-7701TX2002-08$24,741,373
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12Tyler Family Circle Of CarePO BOX 2283, Austin, TX 78768-2283TX2012-08$6,441,542
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14Metroplex Clinic Physicians IncPO BOX 6452, Fort Worth, TX 76115-0452TX2007-11$3,017,863
15St Joseph Regional Health Partners, St Joseph Health Partners2801 Franciscan Dr, Bryan, TX 77802-2544TX2013-09$682,328
16Community Cares Clinic 1 Inc4321 Hillshire Ct, Plano, TX 75093-6978TX2006-09$0
17Fertilitycare Services Of El Paso Inc10711 White Sands Dr, El Paso, TX 79924-1115TX2002-07$0
18Mhhcs-Ucp909 Frostwood Suite 2 100, Houston, TX 77024TX2003-09$0
19Petra Childrens Care5054 Postwood, Keller, TX 76244TX2006-12$0
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Number of organizations performing similar types of work
Alaska2
Alabama1
Arkansas2
Arizona5
California26
Colorado2
Connecticut1
District of Columbia3
Delaware1
Florida8
Georgia7
Hawaii3
Iowa5
Idaho3
Illinois7
Indiana3
Kansas1
Kentucky2
Louisiana3
Massachusetts19
Maryland7
Maine1
Michigan15
Minnesota8
Missouri5
Mississippi6
Montana1
North Carolina5
Nebraska2
New Hampshire4
New Jersey5
New Mexico3
New York30
Ohio13
Oklahoma2
Oregon4
Pennsylvania24
Rhode Island2
South Carolina3
Tennessee6
Texas14
Utah1
Virginia1
Washington5
Wisconsin7
West Virginia3
Wyoming1
Total282

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