Boone Memorial Hospital Inc
83% goes to programs $32 to raise $100 Growing revenue
Boone Memorial Hospital Inc is a 501(c)(3) organization based in Madison, West Virginia, registered in 2012, with $87,824,630 in FY2023 revenue. CharityIndex grades it B+, and it directs about 83% of spending to programs.
701 Madison Ave, Madison, WV, 25130 EIN 55-0477361 Since 2012
Revenue (FY2023)
$87.8M
▲ 21.7% vs prior year
Health median: $840K
Expenses (FY2023)
$84.9M
Net assets
$24.5M
Employees
590
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating83% to programs · $32 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Boone Memorial Hospital Inc: 83% to programs · $32 to raise $100 earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating3 mo reserves · +3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Boone Memorial Hospital Inc: 3 mo reserves · +3% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Boone Memorial Hospital Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Boone Memorial Hospital Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Boone memorial hospital strives to supply a comprehensive range of inpatient and outpatient services.
What they do
Boone memorial hospital conducts an annual health fair. the hospital uses the local madison civic center and offers very low cost blood work to the community. approximately 450 community members attended the health fair and approximately 170 received low cost blood work.
Bmh respite care program. the hospital had 6 respite care admissions and 29 respite days for its 6/30/17 fiscal year. the respite care program is a cash only program. it is not billed to insurance, but the rate is only $221 per day. we offer this as a community benefit.
The hospital provided student loan forgiveness grants during the year.
Contact & location
- Address
- 701 Madison Ave, Madison, WV, 25130
- City
- Madison
- State
- West Virginia
- Category
- Health Care
- Subcategory
- Hospitals
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $29.1M (FY2013) to $87.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $59.5MNet assets $24.5M
Operating margin
3.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$84.0M
Total liabilities
$59.5M
Net assets
$24.5M
Salaries & benefits
$44.6M
52% of expenses
Board members
10
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $87,824,630▲21.7% | $84,878,404▲20.7% | $24,480,789▲13.7% | $83,979,484▲16.5% | 990 |
| 2022 | $72,177,450▲7.1% | $70,345,825▲8.0% | $21,534,563▲9.3% | $72,082,428▲7.0% | 990 |
| 2021 | $67,370,697▲15.5% | $65,156,148▲20.3% | $19,702,938▲12.7% | $67,379,046▼1.6% | 990 |
| 2020 | $58,312,219▲16.9% | $54,144,357▲14.5% | $17,488,389▲31.3% | $68,497,760▲12.2% | 990 |
| 2019 | $49,892,559▲13.0% | $47,267,041▲13.7% | $13,320,527▲24.5% | $61,065,632▲19.2% | 990 |
| 2018 | $44,142,075▲24.2% | $41,554,773▲11.2% | $10,695,009▲31.9% | $51,231,888▲5.1% | 990 |
| 2017 | $35,550,544▲4.2% | $37,384,258▲9.6% | $8,107,707▼18.4% | $48,761,815▼2.8% | 990 |
| 2016 | $34,129,710▲19.2% | $34,098,623▲25.0% | $9,941,421▲0.3% | $50,167,741▲3.2% | 990 |
| 2015 | $28,624,567▲0.7% | $27,279,563▲1.4% | $9,910,334▲15.7% | $48,592,181▲80.8% | 990 |
| 2014 | $28,439,507▼2.1% | $26,889,805▼6.7% | $8,565,330▲22.1% | $26,881,258▲142% | 990 |
| 2013 | $29,062,910 | $28,826,621▲10.0% | $7,015,628▲3.5% | $11,100,076▲1.5% | 990 |
| 2012 | — | $26,197,238 | $6,779,339 | $10,933,595 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Casey Shaun Hager — $656,744 (0.77% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Casey Shaun Hager | Doctor | 40 | $656,744 |
| Melissa Moody | Doctor | 40 | $469,520 |
| Brian Cortelessi | Doctor | 40 | $469,151 |
| Philip Todd Berry | Doctor | 40 | $428,685 |
| Kenneth Chadwick Adkins | Doctor | 40 | $406,749 |
| Virgil Underwood | President and Chief Executive Officer | 50 | $336,035 |
| Angela Christian | Chief Operating Officer | 50 | $263,443 |
| Douglas Cole Malcolm | Chief Financial Officer | 50 | $224,058 |
| Ray Harrell | Ceao and Secretary | 50 | $185,000 |
| Edward Williams | Board Member | 1.1 | — |
| James Gore | Board Secretary | 1.1 | — |
| James Hensley | Board Chairman | 1.1 | — |
| John Reger | Board Member | 1.1 | — |
| Nada Woodie | Board Member | 1.1 | — |
| Robert Brown | Board Vice-chairman | 1.1 | — |
| Shawn Miller | Board Member | 1.1 | — |
| Susan Mccoy | Board Member | 1.1 | — |
| Thomas Bias | Board Member | 1.1 | — |
| Wyatt Scaggs | Board Member | 1.1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Cpsi | System Software | $2,312,530 |
| Bbl Carlton | Construction | $1,306,610 |
| Bytes Computer & Network Solutions | It/computer | $1,018,425 |
| Dr Bassam Haffar | Surgeon | $813,708 |
| University Physicians & Surg | Healthcare | $723,752 |
Grants received · $46K total
5 grants to Boone Memorial Hospital Inc totaling $46K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Heart Association Inc | Stroke programs | 2020 | $9,112 |
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2016 | $5,632 |
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2015 | $15,567 |
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2014 | $14,620 |
| Columbus Foundation | Health | 2014 | $1,000 |
Grants made · $175K in FY2023
7 grants totaling $175K in FY2023. All grants made by Boone Memorial Hospital Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Town of Danville | Operational support | $70,000 |
| Wv Game Changers Inc | Substance abuse education | $46,000 |
| Aracoma Story | New sound system | $16,542 |
| Waterways 2023 Concert Series | 2023 concert series | $12,500 |
| Boone County Sheriff's Department | Aed's for all cruisers | $11,251 |
| Barn Community Group | Operational support | $10,000 |
| Boone County Community Organization Assn | Delivery vehicle | $8,250 |
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Frequently asked questions
- Is Boone Memorial Hospital Inc a legitimate nonprofit?
- Yes. Boone Memorial Hospital Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 55-0477361, based in Madison, West Virginia. Donations are tax-deductible.
- What is Boone Memorial Hospital Inc's EIN?
- Boone Memorial Hospital Inc's Employer Identification Number (EIN) is 55-0477361.
- How much revenue does Boone Memorial Hospital Inc report?
- Boone Memorial Hospital Inc reported $87,824,630 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Boone Memorial Hospital Inc's spending goes to programs?
- Boone Memorial Hospital Inc spends about 83% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Boone Memorial Hospital Inc have?
- CharityIndex grades Boone Memorial Hospital Inc B+, based on program efficiency and fundraising cost.
- How much does Boone Memorial Hospital Inc's highest-paid employee make?
- The highest reported compensation on Boone Memorial Hospital Inc's latest Form 990 is $656,744, paid to Casey Shaun Hager (Doctor).
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Data for Boone Memorial Hospital Inc (EIN 55-0477361) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.