Civic Intelligence

Grace Medical Center Inc

EIN 52-0591555 • 501(c)3 • Baltimore, MD

Profile

The mission is to provide compassionate healthcare services for all, regardless of patients' socio-economic status and ability to pay.

2000 W Baltimore StreetBaltimore, MD 21223

www.lifebridgehealth.org/GRACE/GRACE.ASPX

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.73x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

95th percentile

6.85x

Higher debt load relative to revenue than 95% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

1st percentile

-172%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

99th percentile

$3,866,428

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 41.9% of source-year revenue.

501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

26th percentile

-0.1%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-14%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Down

$86,099,037

Down $49,035 (-0.1%) from 2023

Liabilities

Down

$63,123,695

Down $28,246,693 (-31%) from 2023

Net Assets

Up

$22,975,342

Up $28,197,658 (+540%) from 2023

Revenue

Down

$9,218,035

Down $1,554,160 (-14%) from 2023

Expenses

Down

$25,095,099

Down $413,595 (-1.6%) from 2023

Net Income

Down

-$15,877,064

Down $1,140,565 (-7.7%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$100M$0-$100MAssets 2010: $76,327,534Liabilities 2010: $142,322,917Net Assets 2010: -$65,995,3832010Assets 2011: $83,049,970Liabilities 2011: $142,266,042Net Assets 2011: -$59,216,0722011Assets 2012: $72,332,787Liabilities 2012: $157,340,732Net Assets 2012: -$85,007,9452012Assets 2013: $71,145,793Liabilities 2013: $155,818,768Net Assets 2013: -$84,672,9752013Assets 2014: $75,014,730Liabilities 2014: $157,282,734Net Assets 2014: -$82,268,0042014Assets 2015: $70,127,016Liabilities 2015: $147,743,944Net Assets 2015: -$77,616,9282015Assets 2016: $65,899,696Liabilities 2016: $153,506,599Net Assets 2016: -$87,606,9032016Assets 2017: $68,505,669Liabilities 2017: $153,884,340Net Assets 2017: -$85,378,6712017Assets 2018: $67,294,406Liabilities 2018: $146,765,744Net Assets 2018: -$79,471,3382018Assets 2019: $62,267,560Liabilities 2019: $156,196,884Net Assets 2019: -$93,929,3242019Assets 2020: $98,374,187Liabilities 2020: $83,274,038Net Assets 2020: $15,100,1492020Assets 2021: $110,112,234Liabilities 2021: $99,061,699Net Assets 2021: $11,050,5352021Assets 2022: $106,741,883Liabilities 2022: $90,324,904Net Assets 2022: $16,416,9792022Assets 2023: $86,148,072Liabilities 2023: $91,370,388Net Assets 2023: -$5,222,3162023Assets 2024: $86,099,037Liabilities 2024: $63,123,695Net Assets 2024: $22,975,3422024

Highlighted filing

2024

Assets$86,099,037
Liabilities$63,123,695
Net Assets$22,975,342

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $136,202,8582010Expenses 2011: $137,114,9382011Revenue 2012: $138,792,340Expenses 2012: $138,281,385Net Income 2012: $510,9552012Expenses 2013: $137,855,9242013Revenue 2014: $130,581,766Expenses 2014: $127,625,390Net Income 2014: $2,956,3762014Revenue 2015: $128,426,583Expenses 2015: $118,507,500Net Income 2015: $9,919,0832015Revenue 2016: $120,658,280Expenses 2016: $121,687,754Net Income 2016: -$1,029,4742016Revenue 2017: $114,941,824Expenses 2017: $118,039,998Net Income 2017: -$3,098,1742017Revenue 2018: $114,097,721Expenses 2018: $114,895,346Net Income 2018: -$797,6252018Revenue 2019: $112,238,118Expenses 2019: $118,823,672Net Income 2019: -$6,585,5542019Revenue 2020: $65,432,810Expenses 2020: $82,259,563Net Income 2020: -$16,826,7532020Revenue 2021: $34,877,165Expenses 2021: $63,150,270Net Income 2021: -$28,273,1052021Revenue 2022: $23,241,096Expenses 2022: $34,088,407Net Income 2022: -$10,847,3112022Revenue 2023: $10,772,195Expenses 2023: $25,508,694Net Income 2023: -$14,736,4992023Revenue 2024: $9,218,035Expenses 2024: $25,095,099Net Income 2024: -$15,877,0642024

Highlighted filing

2024

Revenue$9,218,035
Expenses$25,095,099
Net Income-$15,877,064

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$86.1$63.1$23.0$9.22$25.1$15.9
2023Detailed filing. Detailed filing data is available for this year.$86.1$91.4$5.22$10.8$25.5$14.7
2022Detailed filing. Detailed filing data is available for this year.$107$90.3$16.4$23.2$34.1$10.8
2021Detailed filing. Detailed filing data is available for this year.$110$99.1$11.1$34.9$63.2$28.3
2020Summary only. Only limited summary data is available for this year.$98.4$83.3$15.1$65.4$82.3$16.8
2019Detailed filing. Detailed filing data is available for this year.$62.3$156$93.9$112$119$6.59
2018Detailed filing. Detailed filing data is available for this year.$67.3$147$79.5$114$115$0.80
2017Detailed filing. Detailed filing data is available for this year.$68.5$154$85.4$115$118$3.10
2016Detailed filing. Detailed filing data is available for this year.$65.9$154$87.6$121$122$1.03
2015Detailed filing. Detailed filing data is available for this year.$70.1$148$77.6$128$119$9.92
2014Detailed filing. Detailed filing data is available for this year.$75.0$157$82.3$131$128$2.96
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.1$156$84.7$138
2012Summary only. Only limited summary data is available for this year.$72.3$157$85.0$139$138$0.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$83.0$142$59.2$137
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$76.3$142$66.0$136
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$9,218,035
Mission and Program Overview

Mission

The mission is to provide compassionate healthcare services for all, regardless of patients' socio-economic status and ability to pay.

To provide quality compassionate health care and community-based services that seek to improve the health of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$55,936,430$54,612,760▼ $1,323,670
Cash and Non-Interest-Bearing Accounts$2,386,520$8,703,340▲ $6,316,820
Accounts Receivable$5,347,208$6,735,817▲ $1,388,609
Inventories for Sale or Use$311,702$343,904▲ $32,202
Prepaid Expenses and Deferred Charges$76,678$103,629▲ $26,951
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$86,148,072$86,099,037▼ $49,035
Other Assets Total$22,089,534$15,599,587▼ $6,489,947
Liabilities
Mortgage Notes Payable Secured by Investment Property$42,981,540$30,872,758▼ $12,108,782
Other Liabilities$43,152,040$25,660,143▼ $17,491,897
Accounts Payable and Accrued Expenses$4,973,316$5,444,309▲ $470,993
Deferred Revenue$263,492$1,068,181▲ $804,689
Escrow Account Liability$0$78,304▲ $78,304
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$91,370,388$63,123,695▼ $28,246,693
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,722,220$22,656,034▲ $28,378,254
Net Assets With Donor Restrictions$499,904$319,308▼ $180,596
Total Net Assets Fund Balance$-5,222,316$22,975,342▲ $28,197,658
Total Liabilities and Net Assets / Fund Balance$86,148,072$86,099,037▼ $49,035

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$43,495,883$28,676,889$72,172,772
Equipment$7,639,408$45,939,385$53,578,793
Other Land Buildings$2,107,769$0$2,107,769
Land$1,369,700-$1,369,700
Other Assets Org$412,108--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michelle Berkley-brownAvp OperationsFT$227,451$37,038$264,489
Yasmeen Ahmed MdPhysicianFT$247,796$14,510$262,306
Renee RobinsonDirector Clinical InformaticsFT$155,219$27,667$182,886
Terry BrownDirector Ops & MonitoringFT$151,585$31,270$182,855
Theodora Balis MdPrimary Care PhysicianFT$177,199$5,307$182,506
Arsalan Sheikhmd Thru 523Chief Medical OfficerFT$121,846$7,277$129,123

Board Members and Trustees

NameTitle
Jonathan DavidovChair
Neil M MeltzerDirector/lbh President/CEO
Amy SchlossmanPresident (AS 0F 7/23)
Dennis WeinmanVice Chair/secretary/treasurer
Dr Matthew Poffenroth MdVice President, Lbh CPE
Rebecca Altman Thru 1023Vice President, Lbh VP
Michael Gaines SrDirector
Venroy JulyDirector
Leslie Simmons Thru 723COO,lbh,interim Pres. Shb&gmc
Jason WeinerEx Officio-assistant Secretary
David KrajewskiEx Officio-assistant Treasurer
Daniel Blum Thru 223Gmc Pres, SVP Lbh/ Pres Shb

Highest Paid Contractors

ContractorServicesLocationCompensation
Johnson ControlsEquip. Maintenance5757 NORTH GREEN BAY AVENUE, Milwaukee, WI 53201$702,607
Medhelp INCBilling Services1184 HAMMOCK GLEN SUITE F-G, New Braundels, TX 78132$331,781
Allied UniversalProtection ServicesPO BOX 828854, Philadelphia, PA 19182$260,935
Qualivis LLCAgency Nurses5930 CORNERSTONE COURT WEST SUITE, San Diego, CA 92121$171,597
Cove Electric INCContracted Services2101 PULASKI HIGHWAY, Edgewood, MD 21040$144,506
Revenue and Support

Revenue Composition

Contributions and Grants
$556,380
Program Service Revenue
$8,391,671
Investment Income
$58,016
Other Revenue
$211,968
All Other Contributions
$556,380
Change in Net Assets
$-15,877,064

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,152,981
Revenue Not Reported on Financial Statements
$65,054
Revenue Not Reported on Form 990
$1,136,363
Total Revenue per Audited Statements
$10,289,344
Total Revenue per Form 990
$9,218,035
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,968,171
Other Expenses$11,126,928
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,242,933$3,044,389-$11,287,322
Fees for Services Other$1,787,192$2,625,329$0$4,412,521
Occupancy$1,396,452$511,737-$1,908,189
Other Employee Benefits$1,218,389$680,525-$1,898,914
Depreciation Depletion$437,331$499,797-$937,128
Office Expenses$116,317$743,776-$860,093
Payroll Taxes$545,323$111,599-$656,922
Interest$63,572$590,844-$654,416
Pension Plan Contributions$103,776$21,237-$125,013
Fees for Service Investment Mgmnt Fees-$65,054-$65,054
Fees for Services Lobbying$27,796$16,948-$44,744
Other Expenses$16,553$5,195-$21,748
Conferences and Meetings$19,181$1,245-$20,426
Travel$16,573$3,041-$19,614
Advertising$1,400$3,579-$4,979
Total Functional Expenses$15,921,496$9,173,603$0$25,095,099

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$25,095,099
Expenses per Audited Statements$25,030,045
Total Expenses per Audited Statements$25,030,045
Expenses Not Reported on Financial Statements$65,054
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payables$25,246,952
Lease Liabilities$413,191
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 6:

The corporation shall have one member, lifebridge health, inc. (the "member"), a maryland non-stock corporation. Membership in the corporation shall not be transferable.

FORM 990, PART VI, SECTION A, LINE 7A:

The member shall have the exclusive power and authority to take the following actions: (1) except for ex officio directors as provided for in the bylaws, to nominate, elect, and remove, with or without cause, the directors of the corporation; (2) to appoint the president of the corporation with the advice and consent of the board of directors; (3) to nominate and elect the corporation's chair, vice chair, secretary, and treasurer; and (4) to remove each of the above named officers (with or without cause), provided that the board of directors of the corporation shall also have the power to remove any officer of the corporation.

FORM 990, PART VI, SECTION A, LINE 7B:

The member has power to appoint and/or remove members of the governing body.

FORM 990, PART VI, SECTION B, LINE 11B:

The lifebridge exempt entities 990's are initially reviewed by the assistant vice president of financial reporting. In addition, an independent accounting firm also reviews all the 990 returns. A formal meeting is then scheduled with the chief financial officer, vice president of financial reporting, general counsel and the assistant vice president of financial reporting to review in their entirety all the lifebridge exempt entities 990's. Management then provides a copy of the 990's to the audit and compliance committee of the lifebridge health board and to each individual board director prior to the filing date for review.

FORM 990, PART VI, SECTION B, LINE 12C:

All directors, officers, employees, medical staff members, and volunteers are expected to recognize and disclose at the earliest possible time actual and potential conflicts of interest. An individual is considered to have a conflict of interest with regard to a matter or transaction if the individual or a family member of the individual has a personal or financial interest that has the potential to influence the action taken by the individual on behalf of lifebridge health. Additional information regarding what constitutes a conflict of interest and how to disclose a conflict is outlined below. Lifebridge and all of its subsidiaries shall require all employees, medical staff, and members of the board to disclose any activities that could result in a possible conflict of interest. If a conflict is identified, the person involved would recuse him/herself from deliberations regarding the transactions. An individual is considered to have a conflict of interest with regard to a matter or transaction if the individual has a personal or financial interest that has the potential to influence the action taken by the individual on behalf of lifebridge or any of its subsidiaries. An individual is considered to have a "personal interest" in a matter if it is likely to have a direct and material impact on the individual's relationship with lifebridge or any of its subsidiaries (e.g., the individual's continued membership on a subsidiary hospital's medical staff), or on the individual's own health care, or the individual is personally involved in a substantial way (e.g., serves as an officer, director, trustee, or key employee) with another organization that has a significant interest in the matter. An individual is considered to have a "financial interest" in a transaction if the individual, or their family member, (i) is a party to the transaction, (ii) will benefit personally from the transaction, or (iii) has, directly or indirectly, a current or anticipated ownership or investment in, or compensation arrangement with, a party to the transaction. An ownership interest of less than 5% in an entity will not, in and of itself, generally be considered a financial interest; however, to the extent the individual's compensation from the entity is directly linked to the entity's business with lifebridge health, such compensation will constitute a financial interest. For the purposes of this policy, a "family member" includes spouse or domestic partner, parents, brothers and sisters, children (whether natural or adopted), grandparents, grandchildren, great-grandchildren, and in-laws, spouses of brothers, sisters, children, grandchildren, and great -grandchildren, and any other member of a household of the individual. Conflicts of interest are to be reported by employees to their supervisor, who will be responsible for determining whether further dissemination is necessary. Members of the medical staff should report conflicts to the chief of their department, and members of the board should report them to the chief compliance officer. Questionnaires are sent out to members of the board on an annual basis. If questions arise or further guidance is sought, individuals can contact the chief compliance officer or confidential compliance hotline. Nothing in this definition is intended to relieve any person of any additional obligations that may be imposed by state or federal law.

FORM 990, PART VI, SECTION C, LINE 19:

The member shall have the exclusive power and authority to take the following actions: (1) except for ex officio directors as provided for in the bylaws, to nominate, elect, and remove, with or without cause, the directors of the corporation; (2) to appoint the president of the corporation with the advice and consent of the board of directors; (3) to nominate and elect the corporation's chair, vice chair, secretary, and treasurer; and (4) to remove each of the above named officers (with or without cause), provided that the board of directors of the corporation shall also have the power to remove any officer of the corporation.

Filing and Contact Details

Filer

Filer Name
Grace Medical Center Inc
EIN
52-0591555
In Care Of
% NANCY KANE
Phone
4106016161
Address
2000 W BALTIMORE STREET, BALTIMORE, MD 21223

Signing Officer

Name
David Krajewski
Title
Executive VP/CFO
Phone
4106016161
Signed
2025-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Shlossman
Formed
1920
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
4
Employees
192
Volunteers
0

Preparer

Firm
Bdo USA
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Todd Teresco
Phone
7038930600
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:

Outpatient services: renal dialysis, mental health, substance abuse treatment, health education, primary care including preventive care, acute and chronic disease management, and care coordination; specialty services including pediatrics, obgyn, cardiology, podiatry, orthopedics, infectious disease, gastrointestinal services, ophthalmology/eye care, pulmonary and vascular testing, physical therapy, and nutrition services; outpatient lab, high resolution 3d mammography, and imaging services. The latest edition ct scanner-to help with early diagnosis of conditions such as strokes and impending heart attacks-is located at the facility. We provide patients with added support programs and connection to resources to assist with their health journey. Additional programs available include: peer recovery to help patients who use illicit or prescription drugs or alcohol begin the path to recovery, via the overdose survivors outreach program (osop) and screening, brief intervention and referral to treatment (sbirt).

FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS:

Transfers to tax exempt affiliates $ 42,931,322

FORM 990, PART XII, LINE 2C:

The audit committee review process for grace medical center, inc. Follows lifebridge health, inc.'s audit committee review process.

Form 990 Part IX Line 11G

Description:other purchased services total fees:1655330

Form 990 Part IX Line 11G

Description:laundry and evs total fees:1497101

Form 990 Part IX Line 11G

Description:professional and tech total fees:1012246

Form 990 Part IX Line 11G

Description:agency total fees:247844

Financial Statement Notes

SCHEDULE D, PART IV, LINE 2B:

Grace medical center held, safeguarded, managed and accounted for the social security funds of certain patients. These funds were held in an fdic insured banking institution. With the assistance of hospital personnel, funds were generally accessed by the patient through the use of atm cards or visa gift cards purchased on their behalf.

SCHEDULE D, PART X, LINE 2:

The corporation has been recognized by the internal revenue service as tax-exempt pursuant to section 501(c)(3) of the internal revenue code. The corporation accounts for uncertain tax positions in accordance with financial accounting standards board (fasb) accounting standards codification (asc) topic 740, income taxes.

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