Civic Intelligence

Victory Memorial Hospital (Bankrupt) C/O Francis G Conrad Plan Administrato

990 • Fiscal year 2013 • EIN 11-1630911

Jan 01, 2013 to Dec 31, 2013 • Filed on Sep 12, 2014

PO Box 8011569-0080

(718) 567-1006

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

5.02x

Higher debt load relative to assets than 100% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

100th percentile

4464.38x

Higher debt load relative to revenue than 100% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

1st percentile

-10016%

Higher net margin than 1% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Asset Growth

9th percentile

-11%

Faster asset growth than 9% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2012 to 2013

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2011 to 2013

Assets

Down

$7,175,364

Down $863,148 (-11%) from 2012

Net Assets

Down

-$28,834,311

Down $807,898 (-2.9%) from 2012

Liabilities

Down

$36,009,675

Down $55,250 (-0.2%) from 2012

Revenue

$8,066

No earlier filing loaded for comparison.

Expenses

Down

$815,964

Down $1,496,204 (-65%) from 2012

Net Income

-$807,898

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0-$50MAssets 2010: $31,078,089Liabilities 2010: $72,617,236Net Assets 2010: -$41,539,1472010Assets 2011: $8,690,804Liabilities 2011: $36,174,774Net Assets 2011: -$27,483,9702011Assets 2012: $8,038,512Liabilities 2012: $36,064,925Net Assets 2012: -$28,026,4132012Assets 2013: $7,175,364Liabilities 2013: $36,009,675Net Assets 2013: -$28,834,3112013Assets 2014: $462,016Liabilities 2014: $32,561,145Net Assets 2014: -$32,099,1292014

Highlighted filing

2013

Assets$7,175,364
Liabilities$36,009,675
Net Assets-$28,834,311

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MExpenses 2010: $2,763,7302010Revenue 2011: $18,027,084Expenses 2011: $3,971,907Net Income 2011: $14,055,1772011Expenses 2012: $2,312,1682012Revenue 2013: $8,066Expenses 2013: $815,964Net Income 2013: -$807,8982013Revenue 2014: $87,541Expenses 2014: $3,352,359Net Income 2014: -$3,264,8182014

Highlighted filing

2013

Revenue$8,066
Expenses$815,964
Net Income-$807,898
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Sep 12, 2014
Return Version
2013v3.0
Gross Receipts
$8,066
Mission and Program Overview

Mission

Wind Down Operations

Mandated by the Department of Health to close the Medical & Surgical Units, the Emergency Room Services, Long Term Nursing Services for the Elderly and Long Term Home Health Care Services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,693,429$4,487,036▼ $206,393
Cash and Non-Interest-Bearing Accounts$656,755$0▼ $656,755
Total Assets$8,038,512$7,175,364▼ $863,148
Other Assets Total$2,688,328$2,688,328→ $0
Liabilities
Accounts Payable and Accrued Expenses$27,557,327$27,552,077▼ $5,250
Other Liabilities$8,507,598$8,457,598▼ $50,000
Total Liabilities$36,064,925$36,009,675▼ $55,250
Net Assets / Fund Balance
Unrestricted Net Assets$-28,026,413$-28,834,311▼ $807,898
Total Net Assets Fund Balance$-28,026,413$-28,834,311▼ $807,898
Total Liabilities and Net Assets / Fund Balance$8,038,512$7,175,364▼ $863,148

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$557,103--
Compensation and Service Providers

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Bederson LLPFinancial-$223,296
Alston & Byrd LLPLegal-$203,572
BDO SeidmanFinancial-$111,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$5,304
Other Revenue
$2,762
Change in Net Assets
$-807,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$815,964
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$441,247-$441,247
Fees for Services Accounting-$334,795-$334,795
Fees for Services Other-$30,557-$30,557
Other Expenses-$5,860-$5,860
Office Expenses-$3,505-$3,505
Total Functional Expenses$0$815,964$0$815,964
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Estimated Liability for Medical Malpractice$7,270,000
Due to Third Party Payors$1,187,598
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.

Form 990, Part VI, Section A, line 8A

Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.

Form 990, Part VI, Section A, line 8B

Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.

Form 990, Part VI, Section B, line 11

Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.

Form 990, Part VI, Section B, line 11

Plan Administrator reviews Form 990 prior to filing.

Form 990, Part VI, Section C, line 18

Form 990 is available upon request.

Form 990, Part VI, Section C, line 19

Organization documents are available upon request.

Filing and Contact Details

Filer

EIN
11-1630911
Phone
7185671006

Signing Officer

Name
Francis G Conrad
Title
Plan Administrator
Phone
7185671006
Signed
2014-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Francis G Conrad
Formed
1904
Legal Domicile
Ny
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Preparer
Matthew Schwartz
Phone
9735309190
Supplemental Narrative

Additional Explanations

Addendum to Form 990

VICTORY MEMORIAL HOSPITAL (BANKRUPT) FEDERAL IDENTIFICATION NUMBER: 11-1630911 ADDENDUM TO FORM 990 FOR THE YEAR ENDED DECEMBER 31, 2013 We are the Court Appointed Accountants for the Chapter 11 Plan Administrator of Victory Memorial Hospital (Bankrupt), which filed bankruptcy on November 15, 2006. Due to the bankruptcy certain key financial records, account analysis, reconciliations, and supporting information that would normally be present were missing or unavailable. We prepared this tax return from the best information available; that is, the Debtor's prior tax return and the available Debtor's financial records. The Plan Administrator, by his signature on the face of this tax return has relied on our expertise in preparing the 2013 return from the available records. Neither the Plan Administrator, nor our firm has any personal knowledge of any transaction that occurred prior to the Plan Administrator's or our appointment. However, it is our qualified opinion that this is a complete return based on the financial information available. The absence of complete information was caused by the bankrupt status of the corporation. BEDERSON LLP MAY 2014

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IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24President
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01904
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt08066
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt00
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt05304
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt05304
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt02
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd00
IRS990/MissionDesc0Wind Down Operations
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0-28026413
IRS990/NetAssetsOrFundBalancesEOYAmt0-28834311
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03505
IRS990/OfficeExpensesGrp/TotalAmt03505
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt02688328
IRS990/OtherAssetsTotalGrp/EOYAmt02688328
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0U.S. Trustee Fees
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05860
IRS990/OtherExpensesGrp/TotalAmt05860
IRS990/OtherLiabilitiesGrp/BOYAmt08507598
IRS990/OtherLiabilitiesGrp/EOYAmt08457598
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0Receivables Collected
IRS990/OtherRevenueMiscGrp/Desc1Medical Transcript & O
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt02612
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1150
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt02612
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1150
IRS990/OtherRevenueTotalAmt02762
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Francis G Conrad
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0Not Applicable - The hospital ceased all operations.
IRS990/ProgSrvcAccomActy3Grp/Desc0Not Applicable - The hospital ceased all operations.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt08297
IRS990/PYOtherExpensesAmt02312168
IRS990/PYOtherRevenueAmt01761428
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-542443
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt02312168
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01769725
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-807898
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04693429
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04487036
IRS990ScheduleA/HospitalInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02131225
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1557103
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Rent Receivable
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Due from Third Party Payors
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01187598
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17270000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Third Party Payors
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Estimated Liability for Medical Malpractice
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02688328
IRS990ScheduleD/TotalLiabilityAmt08457598
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Plan Administrator has been appointed to administer the remaining assets for the payment of allowed claims per the Bankruptcy Court.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Plan Administrator reviews Form 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990 is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Organization documents are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7VICTORY MEMORIAL HOSPITAL (BANKRUPT) FEDERAL IDENTIFICATION NUMBER: 11-1630911 ADDENDUM TO FORM 990 FOR THE YEAR ENDED DECEMBER 31, 2013 We are the Court Appointed Accountants for the Chapter 11 Plan Administrator of Victory Memorial Hospital (Bankrupt), which filed bankruptcy on November 15, 2006. Due to the bankruptcy certain key financial records, account analysis, reconciliations, and supporting information that would normally be present were missing or unavailable. We prepared this tax return from the best information available; that is, the Debtor's prior tax return and the available Debtor's financial records. The Plan Administrator, by his signature on the face of this tax return has relied on our expertise in preparing the 2013 return from the available records. Neither the Plan Administrator, nor our firm has any personal knowledge of any transaction that occurred prior to the Plan Administrator's or our appointment. However, it is our qualified opinion that this is a complete return based on the financial information available. The absence of complete information was caused by the bankrupt status of the corporation. BEDERSON LLP MAY 2014
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7ADDENDUM TO FORM 990
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00

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