Valley Health System, Shenandoah Memorial Hospital in Woodstock, Virginia (VA)

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Valley Health System, Shenandoah Memorial Hospital
Employer Identification Number (EIN)540490687
Name of OrganizationValley Health System
Secondary NameShenandoah Memorial Hospital
In Care of NameShawn Carrico
Address759 S Main St, Woodstock, VA 22664-1127
ActivitiesHospital
SubsectionCharitable Organization
Ruling Date11/2009
DeductibilityContributions are deductible
FoundationHospital or medical research organization
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2010
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$13,616,929
Amount of Income$25,086,461
Form 990 Revenue Amount$25,086,461
National Taxonomy of Exempt Entities (NTEE)Health - General and Rehabilitative: Hospital, General


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Amount of income in 2010: $25,086,461
Valley Health System, Shenandoah Memorial Hospital: 

 $25,086,461
Other organizations performing similar types of work: 

 $17,721,162

Assets in 2010: $13,616,929
Valley Health System, Shenandoah Memorial Hospital: 

 $13,616,929
Other organizations performing similar types of work: 

 $15,703,352

Expenses in 2001: $26,141,110
This organization: 

 $26,141,110
Other organizations performing similar types of work: 

 $16,206,641

Income to expenses ratio in 2001: 1.0
This organization: 

 1.0
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2001: 91.7%
Valley Health System, Shenandoah Memorial Hospital: 

 91.7%
Other organizations performing similar types of work: 

 86.7%

Number of employees in 2001: 330
This organization: 

 330
Other organizations performing similar types of work: 

 197

Employees paid over $50,000 in 2001: 6.4%
Valley Health System, Shenandoah Memorial Hospital: 

 6.4%
Other organizations performing similar types of work: 

 28.5%

Grants share in income in 2001: 1.5%
This organization: 

 1.5%
Other organizations performing similar types of work: 

 0.5%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$23,902,031$25,086,461
Contributions, gifts, grants, and similar amounts received$122,775$386,425
Contributions to donor advised funds
Direct public support$17,154$263,041
Indirect public support$16,986$69,509
Government contributions (grants)$88,635$53,875
Program service revenue including government fees and contracts$23,322,862$24,783,186
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$77,192$49,978
Dividends and interest from securities$25,000$0
Net rental income or (loss)$136,183$0
Gross rents$163,512$0
Less: rental expenses$27,329$0
Other investment income$0$-376,325
Gain or (loss) from sales of assets other than inventory$74,909$3,126
Gross amount from sales of assets other than inventory$84,087$5,803
Less: cost or other basis and sales expenses$9,178$2,677
Net income or (loss) from special events and activities$0$3,000
Gross revenue$0$3,000
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$143,110$237,071
Total expenses$23,867,940$26,141,110
Program services$20,957,525$23,980,413
Management and general$2,910,415$2,160,697
Fundraising$0$0
Payments to affiliates$0$0
Net assets or fund balances at end of year$15,159,846$13,616,929
Excess or (deficit) for the year$34,091$-1,054,649
Net assets or fund balances at beginning of year$14,709,138$15,159,846
Other changes in net assets or fund balances$416,617$-488,268
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$26,141,110$23,980,413$2,160,697$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.$223,067$0$223,067$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$9,925,090$9,031,832$893,258$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$1,112,901$1,012,740$100,161$0
Payroll taxes$724,462$659,260$65,202$0
Professional fundraising fees$0$0$0$0
Accounting fees$104,989$0$104,989$0
Legal fees$60,065$0$60,065$0
Supplies$3,911,521$3,559,484$352,037$0
Telephone$133,277$121,282$11,995$0
Postage and shipping$77,113$70,173$6,940$0
Occupancy$398,496$362,631$35,865$0
Equipment rental and maintenance$251,159$228,555$22,604$0
Printing and publications$14,038$12,775$1,263$0
Travel$51,757$47,099$4,658$0
Conferences, conventions, and meetings$68,952$62,746$6,206$0
Interest$334,516$334,516$0$0
Depreciation, depletion, etc.$1,508,081$1,508,081$0$0
Other expenses not covered above$7,241,626$6,969,239$272,387$0
Balance Sheets
20002001
Total assets$23,676,369$21,019,406
Cash - non-interest-bearing$187,281$280,961
Savings and temporary cash investments$1,448,981$1,460,563
Accounts receivable less allowance for doubtful accounts$4,845,217$3,853,948
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$1,799,792
Receivables from current and former officers, directors, trustees, and key employees$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$29,860$43,412
Inventories for sale or use$740,382$700,172
Prepaid expenses and deferred charges$898,432$1,020,844
Investments - publicly-traded securities
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$205,480$205,480
Investments - other$1,021,103$657,878
Land, buildings, and equipment less accumulated depreciation$11,547,095$10,697,345
Other assets, including program-related investments$2,752,538$299,011
Total liabilities$8,516,523$7,402,477
Accounts payable and accrued expenses$1,999,740$1,828,386
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$5,917,977$5,372,824
Mortgages and other notes payable$598,806$201,267
Other liabilities$0$0
Total liabilities and net assets/fund balances$23,676,369$21,019,406
Total net assets or fund balances$15,159,846$13,616,929
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$23,902,031$25,086,461
Total revenue, gains, and other support per audited financial statements$23,940,734$24,836,092
Other expenses$84,427$73,990
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$84,427$73,990
Other revenue$45,724$324,359
Investment expenses$0$0
Other$45,724$324,359
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$23,867,940$26,141,110
Total expenses and losses per audited financial statements$23,895,269$26,141,110
Other revenue$27,329$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$27,329$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
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?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)?
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, 2006330
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$62,773$-83,150$24,720,413
Program service revenue
Program service revenue 1000000$000$0$24,549,429
Program service revenue 2000000$000$0$16,511
Program service revenue 3All other ambulatory health care services$62,77300$0$0
Program service revenue 4000000$000$0$154,473
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)$49,978$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$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$-376,325$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (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))$3,126$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$3,000$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))$237,071$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
54151225150%$508,112$374,661
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$286,377$30,414$0
$158,969$9,520$0
$111,726$17,281$0
$97,467$13,858$0
$84,510$10,723$0
Total number of other employees paid over $50,00016
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$4,637
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 isHospital, or a cooperative hospital service organization
Support Schedule
19992000
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
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
1Mary Washington Healthcare, Group Return2300 Fall Hill Ave Ste 418, Fredericksbrg, VA 22401-3343VA2004-02$592,231,195
2St Lukes - St Vincents Healthcareinc4205 Belfort Rd Ste 4015, Jacksonville, FL 32216-3623FL1946-03$180,178,901
3Valley Health System, Warren Memorial Hospital1000 N Shenandoah Ave, Front Royal, VA 22630-3547VA2009-11$53,226,156
4Sharp Healthcare Foundation8695 Spectrum Center Blvd, San Diego, CA 92123-1489CA1980-07$27,646,995
5Valley Health System, Shenandoah Memorial Hospital759 S Main St, Woodstock, VA 22664-1127VA2009-11$25,086,461
6Tioga Medical CenterPO BOX 159, Tioga, ND 58852-0159ND1960-07$11,541,525
7San Gorgonio Pass Memorial Hospital District600 N Hglnd Spgs Ave, Banning, CA 92220-3090CA1985-03$10,551,951
8Northwestern Memorial Healthcare, Group251 E Huron 541 N Fairbanks, Chicago, IL 60611IL2011-06$1,885,329,845
9Advocate Health Care Network, Advocate Condell Medical Center3075 Highland Pkwy Fl 6, Downers Grove, IL 60515-5563IL1988-09$362,812,415
10Maury Regional Hospital, Dba Maury Regional Medical Center1224 Trotwood Ave, Columbia, TN 38401-4802TN2014-02$291,391,278
11Bon Secours-Richmond Community Hospital Incorporated8580 Magellan Parkway Building Iv, Richmond, VA 23227-1149VA1945-12$74,926,901
12Shenandoah Shared Hospital Services Inc3190 Peoples Drive C/O Mark Botkin, Harrisonburg, VA 22801VA1981-12$14,729,025
13Catoctin Laboratory For Independent Research Inc17362 Canby Rd, Leesburg, VA 20175VA2010-01$0
14Inova Translational Medicine Institute, Itmi8110 Gatehouse Rd Ste 400w, Falls Church, VA 22042-1254VA2014-10$0
15Lee Regional Medical Center Auxillary IncP O Box 176, Pennington Gap, VA 24277VA2003-05$0
16Mary Washington Healthcare Clinical Services Inc, Mary Washington Healthcare2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343VA2004-02$0
17Mary Washington Healthcare Physicians, Mary Washington Health Care2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343VA2004-02$0
18Medicorp Properties Management Company Llc, Mary Washington Healthcare2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343VA2004-02$0
19Rappahannock Health Connect Llc, Mary Washington Healthcare2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343VA2004-02$0
20Stafford Hospital Llc, Mary Washington Healthcare2300 Fall Hill Ave Ste 509, Fredericksbrg, VA 22401-3343VA2004-02$0
Number of organizations performing similar types of work
Alaska1
Alabama5
Arkansas8
Arizona6
California42
Colorado11
Connecticut7
District of Columbia1
Delaware1
Florida25
Georgia14
Hawaii3
Iowa10
Idaho2
Illinois25
Indiana21
Kansas10
Kentucky8
Louisiana4
Massachusetts13
Maryland8
Maine7
Michigan15
Minnesota12
Missouri15
Mississippi14
Montana9
North Carolina23
North Dakota10
Nebraska10
New Jersey10
New Mexico2
Nevada4
New York36
Ohio13
Oklahoma10
Oregon11
Pennsylvania22
Rhode Island1
South Carolina6
South Dakota6
Tennessee8
Texas24
Utah4
Virginia13
Vermont4
Washington15
Wisconsin24
West Virginia6
Wyoming2
International5
Total566
All affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
CentralValley Health SystemPO BOX 3340, Winchester, VA 22604-2540VA2009-11$90,864,228
SubordinateValley Health System, Winchester Medical Center220 Campus Blvd Ste 310, Winchester, VA 22601-2889VA2009-11$388,394,479
SubordinateValley Health System, Warren Memorial Hospital1000 N Shenandoah Ave, Front Royal, VA 22630-3547VA2009-11$53,226,156
SubordinateValley Health System, Shenandoah Memorial Hospital759 S Main St, Woodstock, VA 22664-1127VA2009-11$25,086,461
SubordinateValley Health System, Group Return220 Campus Blvd Ste 310, Winchester, VA 22601-2889VA2009-11$705,908,877
SubordinateValley Health System, Hampshire Memorial Hospital Inc363 Sunrise Blvd, Romney, WV 26757WV2009-11$12,570,599
SubordinateValley Health System, Page Memorial Hospital200 Memorial Dr, Luray, VA 22835-1000VA2009-11$4,559,059
SubordinateValley Health System, Shenandoah Memorial Hospital Fndtn759 S Main St, Woodstock, VA 22664-1127VA2009-11$0
SubordinateValley Health System, Surgi-Center Of Winchester Inc1860 Amherst St, Winchester, VA 22601-2808VA2009-11$0
SubordinateValley Health System, Warren Memorial Hospital Fndtn1000 N Shenandoah Ave, Front Royal, VA 22630-3547VA2009-11$0
SubordinateValley Health System, Winchester Medical Center Fndtn220 Campus Blvd Ste 420, Winchester, VA 22601-2889VA2009-11$0
SubordinateValley Health System, East Mountain Health Advantage Inc220 Campus Blvd Ste 420, Winchester, VA 22601-2889VA2009-11$0
SubordinateValley Health System, Hampshire Memorial Hospital Foundat220 Campus Blvd Ste 420, Winchester, VA 22601-2888VA2009-11$0
SubordinateValley Health System, Valley Physician Enterprise220 Campus Blvd Ste 420, Winchester, VA 22601-2889VA2009-11$0
SubordinateValley Health System, War Memorial Hospital Inc1 Healthy Way, Berkeley Springs, WV 25411WV2009-11$0
SubordinateFraternal Order Of Police Associates Of Ohio Inc11331 Prouty Rd, Concord Twp, OH 44077-2321OH1956-02$0
Number of affiliated organizations
Ohio1
Virginia13
West Virginia2
Total16

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