Medicorp Properties Inc, Mary Washington Healthcare in Fredericksbrg, Virginia (VA)

Medicorp Properties Inc, Mary Washington Healthcare
Employer Identification Number (EIN)	521342372
Name of Organization	Medicorp Properties Inc
Secondary Name	Mary Washington Healthcare
In Care of Name	Mary Washington Healthcare
Address	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343
Activities	Non financial services of facilities to other organizations
Subsection	Educational Organization
Ruling Date	02/2004
Deductibility	Contributions are deductible
Foundation	Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	12/2003
Assets	$50,000,000 to greater
Income	$5,000,000 to $9,999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$31,479,835
Amount of Income	$8,879,418
Form 990 Revenue Amount	$8,879,418
National Taxonomy of Exempt Entities (NTEE)	Health - General and Rehabilitative: Single Organization Support

Non-representatives - add comments:

Amount of income in 2003: $8,879,418

This organization:	$8,879,418
Other organizations performing similar types of work:	$6,088,020

Assets in 2003: $31,479,835

This organization:	$31,479,835
Other organizations performing similar types of work:	$26,323,448

Expenses in 2002: $8,126,897

Medicorp Properties Inc, Mary Washington Healthcare:	$8,126,897
Other organizations performing similar types of work:	$1,941,347

Income to expenses ratio in 2002: 1.1

This organization:	1.1
Other organizations performing similar types of work:	2.7

Expenses allocated to program services in 2002: 81.2%

Medicorp Properties Inc, Mary Washington Healthcare:	81.2%
Other organizations performing similar types of work:	84.3%

Grants share in income in 2002: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	18.7%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

	2000	2001	2002
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$7,793,973	$7,814,370	$8,879,418
Contributions, gifts, grants, and similar amounts received	$0	$0	$0
Contributions to donor advised funds
Direct public support	$0	$0	$0
Indirect public support	$0	$0	$0
Government contributions (grants)	$0	$0	$0
Program service revenue including government fees and contracts	$6,757,031	$7,059,016	$8,378,446
Membership dues and assessments	$0	$0	$0
Interest on savings and temporary cash investments	$652,580	$0	$0
Dividends and interest from securities	$0	$750,941	$0
Net rental income or (loss)	$0	$0	$0
Gross rents	$0	$0	$0
Less: rental expenses	$0	$0	$0
Other investment income	$0	$0	$0
Gain or (loss) from sales of assets other than inventory	$107,549	$4,413	$500,972
Gross amount from sales of assets other than inventory	$107,549	$5,292	$501,444
Less: cost or other basis and sales expenses	$0	$879	$472
Net income or (loss) from special events and activities	$0	$0	$0
Gross revenue	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0
Less: cost of goods sold	$0	$0	$0
Other revenue	$276,813	$0	$0
Total expenses	$7,626,238	$7,229,808	$8,126,897
Program services	$7,576,547	$6,443,998	$6,596,509
Management and general	$49,691	$785,810	$1,530,388
Fundraising	$0	$0	$0
Payments to affiliates	$0	$0	$0
Net assets or fund balances at end of year	$29,888,860	$30,713,422	$31,479,835
Excess or (deficit) for the year	$167,735	$584,562	$752,521
Net assets or fund balances at beginning of year	$29,721,242	$29,888,860	$30,713,422
Other changes in net assets or fund balances	$-117	$240,000	$13,892

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2002)
Total functional expenses	$8,126,897	$6,596,509	$1,530,388	$0
Grants paid from donor advised funds
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.	$0	$0	$0	$0
Compensation of former officers, directors, key employees, etc.
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)
Salaries and wages of employees not included above	$91,846	$91,846	$0	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$0	$0	$0	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$0	$0	$0	$0
Legal fees	$0	$0	$0	$0
Supplies	$122,056	$122,056	$0	$0
Telephone	$151,162	$151,162	$0	$0
Postage and shipping	$206	$206	$0	$0
Occupancy	$1,471,746	$1,471,746	$0	$0
Equipment rental and maintenance	$238,740	$238,740	$0	$0
Printing and publications	$0	$0	$0	$0
Travel	$0	$0	$0	$0
Conferences, conventions, and meetings	$1,228	$0	$1,228	$0
Interest	$688,113	$688,113	$0	$0
Depreciation, depletion, etc.	$2,943,834	$2,943,834	$0	$0
Other expenses not covered above	$2,417,966	$888,806	$1,529,160	$0

	2000	2001	2002
Balance Sheets
Total assets	$67,453,430	$80,613,219	$78,791,220
Cash - non-interest-bearing	$9,749	$136,556	$121,203
Savings and temporary cash investments	$0	$0	$0
Accounts receivable less allowance for doubtful accounts	$223,682	$34,990	$64,991
Pledges receivable less allowance for doubtful accounts	$0	$0	$0
Grants receivable	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts	$9,177,210	$1,088,196	$1,073,618
Inventories for sale or use	$14,440	$14,441	$14,441
Prepaid expenses and deferred charges	$440,572	$401,925	$471,469
Investments - publicly-traded securities
Investments - other securities	$1,610,258	$1,297,440	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0
Investments - other	$1,829,029	$1,775,642	$1,671,927
Land, buildings, and equipment less accumulated depreciation	$53,912,102	$67,881,159	$67,761,279
Other assets, including program-related investments	$236,387	$7,982,870	$7,612,292
Total liabilities	$37,564,570	$49,899,797	$47,311,385
Accounts payable and accrued expenses	$1,456,506	$2,079,338	$690,416
Grants payable	$0	$0	$0
Deferred revenue	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0
Tax-exempt bond liabilities	$14,000,000	$12,805,000	$12,619,554
Mortgages and other notes payable	$10,511,388	$9,847,047	$9,074,856
Other liabilities	$11,596,676	$25,168,412	$24,926,559
Total liabilities and net assets/fund balances	$67,453,430	$80,613,219	$78,791,220
Total net assets or fund balances	$29,888,860	$30,713,422	$31,479,835

	2000	2001	2002
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$7,793,973	$7,814,370	$8,879,418
Total revenue, gains, and other support per audited financial statements	$7,788,655	$7,814,370	$8,879,418
Other expenses	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0
Donated services and use of facilities	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0
Other	$0	$0	$0
Other revenue	$5,318	$0	$0
Investment expenses	$0	$0	$0
Other	$5,318	$0	$0

	2000	2001	2002
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$7,626,238	$7,229,808	$8,126,897
Total expenses and losses per audited financial statements	$7,621,022	$7,229,808	$8,126,897
Other revenue	$0	$0	$0
Donated services and use of facilities	$0	$0	$0
Prior year adjustments	$0	$0	$0
Losses	$0	$0	$0
Other	$0	$0	$0
Other expenses	$5,216	$0	$0
Investment expenses	$0	$0	$0
Other	$5,216	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	0
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?
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?
Does the organization have a written conflict of interest policy?

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?	No
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)?
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?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2002)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$500,972	$8,378,446
Program service revenue
Program service revenue 1	000000	$0	00	$0	$7,808,246
Program service revenue 2	000000	$0	00	$0	$57,804
Program service revenue 3	000000	$0	00	$0	$357,112
Program service revenue 4	000000	$0	00	$0	$155,284
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	00	$0	$0
Dividends and interest from securities	000000	$0	Dividends, 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)	$501,444	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	00	$0	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))	$-472	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
541529660	87%	$398,794	$4,473,197
541632021	74%	$2,069,862	$10,029,115
	0%	$0	$0
	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2002)
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?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
The aggregate value of assets held in all funds or accounts included above at the end of the tax year

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Not controlled by disqualified persons/supports non private foundation

	1999	2000	2001
Support Schedule
Total	$0	$0	$0
Gifts, grants, and contributions received	$0	$0	$0
Membership fees received	$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
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
Net income from unrelated business activities not included above	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$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
Other income	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2002)
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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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Inova Health System Foundation, Fairfax Hospital Foundation	8110 Gatehouse Rd Ste 400w, Falls Church, VA 22042-1254	VA	1978-05	$558,737,656
2	Sheltering Arms Foundation	8254 Atlee Rd, Mechanicsvlle, VA 23116-1844	VA	1992-09	$50,229,418
3	Mjh Foundation	500 Martha Jefferson Dr, Charlottesvle, VA 22911-4668	VA	1986-09	$50,172,875
4	Centra Health Foundation	1920 Atherholt Rd, Lynchburg, VA 24501-1104	VA	1994-08	$35,900,693
5	Potomac Health Foundation	2296 Opitz Blvd Ste 200, Woodbridge, VA 22191-3352	VA	1984-04	$29,014,277
6	Childrens Health System Inc	601 Childrens Ln, Norfolk, VA 23507-1910	VA	1994-10	$12,717,851
7	Medicorp Properties Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$8,879,418
8	Richmond Memorial Health Foundation	4901 Libbie Mill East Blvd Ste 210, Richmond, VA 23230	VA	1977-07	$5,739,012
9	Winchester Real Estate Management Inc	PO BOX 3340, Winchester, VA 22604-2540	VA	1987-05	$3,992,529
10	Smyth County Community Foundation	1 Health Way, Marion, VA 24354-4225	VA	1999-05	$3,598,937
11	Caresource Management Group Co	230 N Main St, Dayton, OH 45402-1263	OH	2003-06	$387,634,367
12	Yakima Valley Memorial Hospital Charitable Foundation	2701 Tieton Dr, Yakima, WA 98902-3759	WA	1978-09	$4,387,844
13	Southeastern Regional Medical Center Foundation	PO BOX 1408, Lumberton, NC 28359-1408	NC	1999-09	$1,084,933
14	St Tammany Hospital Guild Inc	1202 S Tyler St, Covington, LA 70433-2330	LA	1999-11	$186,485
15	Trump Group-Green Foundation	4000 W Island Blvd Ph 2, Aventura, FL 33160-2540	FL	2002-10	$42
16	Bellevue Hospital Association	1400 West Main Street, Bellevue, OH 44811-9088	OH	2003-08	$0
17	Circus To Save Lives Inc	1103 Grand Prix Dr, St Charles, MO 63303-6313	MO	2008-01	$0
18	Hertzler Halstead Hospital Auxiliary Inc	710 Pine St, Halstead, KS 67056-2422	KS	2001-03	$0
19	Lourdes Campus Fund	2300 Watkins Lake Rd, Waterford, MI 48328-1439	MI	1946-03	$0
20	Man Area Health Care Incorporated	26 1/2 Main Ave, Logan, WV 25601-3331	WV	2003-03	$0

Number of organizations performing similar types of work

Alaska	1
Alabama	5
Arkansas	5
Arizona	2
California	36
Colorado	8
Connecticut	10
District of Columbia	2
Delaware	1
Florida	18
Georgia	5
Hawaii	3
Iowa	10
Idaho	2
Illinois	25
Indiana	10
Kansas	5
Kentucky	4
Louisiana	9
Massachusetts	13
Maryland	18
Maine	6
Michigan	12
Minnesota	7

Missouri	13
Mississippi	3
North Carolina	15
North Dakota	1
Nebraska	5
New Hampshire	1
New Jersey	14
New Mexico	2
Nevada	1
New York	27
Ohio	37
Oklahoma	3
Oregon	2
Pennsylvania	30
Rhode Island	9
South Carolina	3
South Dakota	2
Tennessee	5
Texas	22
Virginia	18
Washington	9
Wisconsin	6
West Virginia	5

Total

450

Affiliation	Name	Address	State	Established	Total Income
All affiliated organizations
Central	Mary Washington Healthcare	2300 Fall Hill Ave Ste 416, Fredericksbrg, VA 22401-3362	VA	2004-02	$70,677,922
Subordinate	Mary Washington Healthcare, Group Return	2300 Fall Hill Ave Ste 418, Fredericksbrg, VA 22401-3343	VA	2004-02	$592,231,195
Subordinate	Mary Washington Hospital Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$242,873,151
Subordinate	Medicorp Properties Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$8,879,418
Subordinate	Medicorp Health Services Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$8,624,300
Subordinate	Mary Washington Hospital Foundation Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$273,716
Subordinate	Mary Washington Healthcare Physicians, Mary Washington Health Care	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0
Subordinate	Medicorp Properties Management Company Llc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0
Subordinate	Stafford Hospital Foundation Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0
Subordinate	Stafford Hospital Llc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0
Subordinate	Rappahannock Health Connect Llc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0
Subordinate	Mary Washington Healthcare Clinical Services Inc, Mary Washington Healthcare	2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343	VA	2004-02	$0

Number of affiliated organizations

Virginia