Hospital Development Co
501(c)(3) Donations tax-deductible
75% goes to programs $0 to raise $100 Growing revenue
Hospital Development Co is a 501(c)(3) organization based in Spencer, West Virginia, registered in 1966, with $66,854,891 in FY2023 revenue. CharityIndex grades it A, and it directs about 75% of spending to programs.
200 Hospital Dr, Spencer, WV, 25276 EIN 55-0484469 Since 1966
Revenue (FY2023)
$66.9M
▲ 6.9% vs prior year
Expenses (FY2023)
$66.3M
Net assets
$18.0M
Employees
446
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating75% to programs · $0 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 Hospital Development Co: 75% to programs · $0 to raise $100 earns a B+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating3 mo reserves · +1% 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 Hospital Development Co: 3 mo reserves · +1% 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 Hospital Development Co: 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 Hospital Development Co: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To promote the general health and welfare of roane county and surrounding areas and all of the citizens thereof by furthering all legitimate methods for the prevention and treatment of disease and the positive promotion of health, both personal and public, including but not limited to the operation of hospitals, nursing schools, nursing homes and medical research facilities; to foster and conduct education in medicine in all its branches and in those adjacent and kindred arts and sciences such as nursing and technical training which contribute to the diagnosis, treatment, care and prevention of disease.
What they do
As a critical access hospital, we provided health care services to our community which included the following days of care: skilled/intermediate care facility 12,341; swing 1,709; respite 64; and acute care 818.additionally, we provided 47,925 outpatient diagnostic visits; 7,340 emergency room visits and 42,774 rural health clinic provider visits.revenue and expenses related to these services are included above in box 4a.
The hospital provided community health education and health screening service at reduced fees during the year including health fairs; diabetes education seminars and screenings, nutrition education classes; and sports physicials. the hospital served a total of 7,949 community participants through its community health education and health screening programs.
Other programs provided include cardiac rehab, laboratory services, emergency room, pharmacy, radiology, ct scan, ultrasound, mri, nuclear medicine, physical therapy, operating room and rhc's. revenue and expenses related to these services are included above in box 4a.
Contact & location
- Address
- 200 Hospital Dr, Spencer, WV, 25276
- City
- Spencer
- State
- West Virginia
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $29.3M (FY2013) to $66.9M (FY2023) across 10 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $33.9MNet assets $18.0M
Operating margin
0.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$51.9M
Total liabilities
$33.9M
Net assets
$18.0M
Salaries & benefits
$29.5M
44% of expenses
Board members
14
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $66,854,891▲6.9% | $66,334,151▲6.1% | $18,014,436▲9.2% | $51,935,091▲3.8% | 990 |
| 2022 | $62,515,507▲10.4% | $62,525,549▲7.3% | $16,503,546▲1.8% | $50,041,902▲1.9% | 990 |
| 2021 | $56,627,091▲8.8% | $58,246,041▲18.1% | $16,210,627▼13.0% | $49,105,663▼7.1% | 990 |
| 2020 | $52,048,469▲12.9% | $49,312,721▲10.0% | $18,627,692▲15.9% | $52,869,915▼4.5% | 990 |
| 2019 | $46,111,124▲11.8% | $44,828,787▲14.3% | $16,073,468▲30.4% | $55,344,941▲120% | 990 |
| 2017 | $41,232,928▲5.1% | $39,212,755▲5.1% | $12,328,369▲19.5% | $25,182,757▲4.0% | 990 |
| 2016 | $39,228,828▲17.5% | $37,327,603▲14.6% | $10,315,228▲24.9% | $24,207,131▲20.7% | 990 |
| 2015 | $33,383,097▲20.9% | $32,582,591▲14.8% | $8,257,658▲12.3% | $20,056,858▲11.4% | 990 |
| 2014 | $27,602,139▼5.8% | $28,389,840▼1.0% | $7,353,223▼10.7% | $17,997,633▲5.4% | 990 |
| 2013 | $29,302,400 | $28,690,894▲7.0% | $8,229,829▲8.9% | $17,075,008▼1.9% | 990 |
| 2012 | — | $26,820,897▲2.7% | $7,554,729▲8.6% | $17,398,082▲11.1% | 990 |
| 2011 | — | $26,106,542▲5.4% | $6,953,568▲9.6% | $15,658,762▲0.3% | 990 |
| 2010 | — | $24,770,016▲2.3% | $6,346,554▲4.1% | $15,618,955▲13.5% | 990 |
| 2009 | — | $24,218,249 | $6,096,439 | $13,765,809 | 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: Stephen Groves Md — $668,696 (1.01% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Stephen Groves Md | Physician | 40 | $668,696 |
| Brent Watson Md | Medical Director | 40 | $634,197 |
| Scott Duffy Md | Chief of Med Staff Until Sept 2024 | 40 | $611,664 |
| Phillip Prusack | Physician | 40 | $521,939 |
| Doug Bentz | Ceo/ex Officio | 40 | $407,632 |
| Hong-kin Ng Md | Physician | 40 | $405,164 |
| Grant Parkins Do | Chief of Staff and Bd Member As of 9/2024 | 40 | $379,078 |
| Richard Bowman Md | Physician | 40 | $378,632 |
| Roselyne Knopf Md | Hospitalist | 40 | $353,648 |
| Julie Carr Msn | Chief Clinical Officer | 40 | $178,122 |
| Amy W Downey CPA Mpa | Chief Financial Officer | 40 | $155,505 |
| Annie Hedges | Board Member | 0.5 | — |
| Emily Westfall | Board Member | 0.5 | — |
| G Jeanette Atkinson | Board Secretary | 0.5 | — |
| Jack D Garrett II | Board President | 0.5 | — |
| John A Varda | Board Treasurer | 0.5 | — |
| John H Taylor | Board Member | 0.5 | — |
| Kevin M Gaughan | Board Member | 0.5 | — |
| Paul Hughes | Board Member | 0.5 | — |
| R Floyd Bowlby | Board Member | 0.5 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Firstsource Solutions | Hospital Billing and Collection Services | $1,980,107 |
| First Settlement Orthopaedics | Orthopaedic Physicians | $796,200 |
| Cps Solutions LLC | Pharmacy, Physical Therapy and Supply Ch | $634,064 |
| University Health Associates | Nursing and Health Staffing | $398,691 |
| New Era Technology | Technology Infrastructure and Support | $334,570 |
Frequently asked questions
- Is Hospital Development Co a legitimate nonprofit?
- Yes. Hospital Development Co is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 55-0484469, based in Spencer, West Virginia. Donations are tax-deductible.
- What is Hospital Development Co's EIN?
- Hospital Development Co's Employer Identification Number (EIN) is 55-0484469.
- How much revenue does Hospital Development Co report?
- Hospital Development Co reported $66,854,891 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Hospital Development Co's spending goes to programs?
- Hospital Development Co spends about 75% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Hospital Development Co have?
- CharityIndex grades Hospital Development Co A, based on program efficiency and fundraising cost.
- How much does Hospital Development Co's highest-paid employee make?
- The highest reported compensation on Hospital Development Co's latest Form 990 is $668,696, paid to Stephen Groves Md (Physician).
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Data for Hospital Development Co (EIN 55-0484469) 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.