Civic Intelligence

Hendrick Provider Network

990 • Fiscal year 2015 • EIN 75-2660403

Sep 01, 2014 to Aug 31, 2015 • Filed on Jul 15, 2016

PO Box 3117Abilene, TX 79604

(325) 670-2000

Siviq Scores

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

Liabilities / Assets

91st percentile

0.95x

Higher debt load relative to assets than 91% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

66th percentile

0.59x

Higher debt load relative to revenue than 66% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

3rd percentile

-59%

Higher net margin than 3% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

94th percentile

$1,080,740

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

43rd percentile

0.3%

Faster asset growth than 43% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

83rd percentile

24%

Faster revenue growth than 83% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Up

$17,447,468

Up $53,458 (+0.3%) from 2014

Net Assets

Down

$901,928

Down $1,085,840 (-55%) from 2014

Liabilities

Up

$16,545,540

Up $1,139,298 (+7.4%) from 2014

Revenue

Up

$28,232,878

Up $5,538,922 (+24%) from 2014

Expenses

Up

$44,937,887

Up $9,842,665 (+28%) from 2014

Net Income

Down

-$16,705,009

Down $4,303,743 (-35%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2010: $2,054,879Liabilities 2010: $956,367Net Assets 2010: $1,098,5122010Assets 2011: $1,588,251Liabilities 2011: $1,157,706Net Assets 2011: $430,5452011Assets 2012: $4,598,582Liabilities 2012: $1,577,673Net Assets 2012: $3,020,9092012Assets 2013: $4,484,394Liabilities 2013: $2,512,069Net Assets 2013: $1,972,3252013Assets 2014: $17,394,010Liabilities 2014: $15,406,242Net Assets 2014: $1,987,7682014Assets 2015: $17,447,468Liabilities 2015: $16,545,540Net Assets 2015: $901,9282015Assets 2016: $18,243,720Liabilities 2016: $15,892,172Net Assets 2016: $2,351,5482016Assets 2017: $18,880,446Liabilities 2017: $17,531,623Net Assets 2017: $1,348,8232017Assets 2018: $19,774,264Liabilities 2018: $19,771,865Net Assets 2018: $2,3992018Assets 2019: $20,122,139Liabilities 2019: $18,703,218Net Assets 2019: $1,418,9212019Assets 2020: $20,441,063Liabilities 2020: $22,724,323Net Assets 2020: -$2,283,2602020Assets 2021: $16,422,730Liabilities 2021: $13,851,495Net Assets 2021: $2,571,2352021Assets 2022: $20,701,780Liabilities 2022: $19,714,823Net Assets 2022: $986,9572022Assets 2023: $19,140,268Liabilities 2023: $22,128,808Net Assets 2023: -$2,988,5402023Assets 2024: $22,291,400Liabilities 2024: $21,553,138Net Assets 2024: $738,2622024

Highlighted filing

2015

Assets$17,447,468
Liabilities$16,545,540
Net Assets$901,928

Operations Trend

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

$200M$100M$0-$100MExpenses 2010: $13,240,2642010Expenses 2011: $13,563,2542011Expenses 2012: $20,880,9592012Expenses 2013: $28,346,4492013Revenue 2014: $22,693,956Expenses 2014: $35,095,222Net Income 2014: -$12,401,2662014Revenue 2015: $28,232,878Expenses 2015: $44,937,887Net Income 2015: -$16,705,0092015Revenue 2016: $32,085,030Expenses 2016: $52,201,691Net Income 2016: -$20,116,6612016Revenue 2017: $36,442,158Expenses 2017: $62,809,342Net Income 2017: -$26,367,1842017Revenue 2018: $41,198,195Expenses 2018: $69,720,444Net Income 2018: -$28,522,2492018Revenue 2019: $45,709,182Expenses 2019: $79,693,290Net Income 2019: -$33,984,1082019Revenue 2020: $49,463,920Expenses 2020: $87,806,406Net Income 2020: -$38,342,4862020Revenue 2021: $65,810,313Expenses 2021: $120,535,933Net Income 2021: -$54,725,6202021Revenue 2022: $80,766,553Expenses 2022: $143,853,419Net Income 2022: -$63,086,8662022Revenue 2023: $91,946,276Expenses 2023: $160,590,818Net Income 2023: -$68,644,5422023Revenue 2024: $74,642,925Expenses 2024: $142,179,037Net Income 2024: -$67,536,1122024

Highlighted filing

2015

Revenue$28,232,878
Expenses$44,937,887
Net Income-$16,705,009
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Jul 15, 2016
Return Version
2014v6.0
Gross Receipts
$28,238,532
Mission and Program Overview

Mission

To provide medical care to the community of abilene and surrounding areas. Many patients are on medicaid. Services are provided to promote best health practices regardless of ability to pay.

Provides medical care to the community of abilene & surrounding areas. Many patients are on medicaid. Services provided promote best health practices regardless of ability to pay.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,549,763$2,163,878▲ $614,115
Land, Buildings, and Equipment, Net$1,869,882$1,562,871▼ $307,011
Inventories for Sale or Use$390,197$462,345▲ $72,148
Prepaid Expenses and Deferred Charges$319,075$136,276▼ $182,799
Savings and Temporary Cash Investments$68,114$89,908▲ $21,794
Cash and Non-Interest-Bearing Accounts$2,175$2,525▲ $350
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$17,394,010$17,447,468▲ $53,458
Other Assets Total$13,194,804$13,029,665▼ $165,139
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,880,000$12,880,000→ $0
Accounts Payable and Accrued Expenses$2,526,242$3,665,540▲ $1,139,298
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$15,406,242$16,545,540▲ $1,139,298
Net Assets / Fund Balance
Unrestricted Net Assets$1,987,768$901,928▼ $1,085,840
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,987,768$901,928▼ $1,085,840
Total Liabilities and Net Assets / Fund Balance$17,394,010$17,447,468▲ $53,458

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,432,370$2,436,736$3,869,106
Other Land Buildings$96,382$0$96,382
Leasehold Improvements$22,444$16,034$38,478
Buildings$11,675$2,992$14,667
Other Assets Org$494,847--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Harvinder AroraPhysicianFT$494,400$472,531$966,931
Joji VarghesePhysicianFT$475,992$396,615$872,607
Nageswari DaggubatiPhysicianFT$616,528$229,024$845,552
Udaya SwarnaPhysicianFT$452,768$305,817$758,585
Whitney MascorroDirectorFT$422,694$299,864$722,558
Theadore C DyerSecretary/treasurerFT$361,714$296,082$657,796
Larry LinDirectorFT$402,173$237,003$639,176
Min GaoChairFT$472,195$166,866$639,061
Ren ZhangPhysicianFT$432,637$183,683$616,320
Rhett LohmanDirectorFT$375,046$155,593$530,639
Gorman ThorpDirectorFT$197,560$180,494$378,054
David StephensonAsst VP-$137,516$63,601$201,117

Board Members and Trustees

NameTitle
Tim LancasterPresident
Jeremy WalkerVice Chairman/CFO
Joe PearsonVice President

Highest Paid Contractors

ContractorServicesLocationCompensation
Texas Tech University Health SciencUrology Services3601 4TH STREET STOP 6225, Lubbock, TX 79424$800,000
Quatris LLCIt Support Services2350 AIRPORT FREEWAY SUITE 300, Bedford, TX 76022$130,103
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,914,964
Investment Income
$-5,654
Other Revenue
$1,323,568
Change in Net Assets
$-16,705,009

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,238,532
Revenue Not Reported on Financial Statements
$-5,654
Revenue Not Reported on Form 990
$-3,403,513
Other Revenue Adjustments
$-5,654
Total Revenue per Audited Statements
$24,835,019
Total Revenue per Form 990
$28,232,878
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$34,942,860
Other Expenses$9,995,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$25,236,026$2,455,682$0$27,691,708
Current Officers, Directors, Trustees, and Key Employees$3,409,378$359,023$0$3,768,401
Other Employee Benefits$1,318,066$355,200$0$1,673,266
Occupancy$1,467,625$157,512$0$1,625,137
Payroll Taxes$1,117,579$181,091$0$1,298,670
Fees for Services Other$322,538$802,769$0$1,125,307
Depreciation Depletion$324,781$298,635$0$623,416
Office Expenses$447,562$150,191$0$597,753
Pension Plan Contributions$447,291$63,524$0$510,815
Information Technology$40,309$463,027$0$503,336
All Other Expenses$183,582$158,803-$342,385
Insurance$298,400$15,290$0$313,690
Advertising$141,277$25,754$0$167,031
Other Expenses$81,745$49,880$0$131,625
Travel$65,727$27,466$0$93,193
Fees for Services Management$71,295$0$0$71,295
Fees for Services Accounting$0$42,720$0$42,720
Fees for Services Legal$5,913$27,253$0$33,166
Total Functional Expenses$39,263,894$5,673,993$0$44,937,887

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$44,937,887
Total Expenses per Audited Statements$41,540,028
Expenses per Audited Statements$41,534,374
Expenses Not Reported on Financial Statements$3,403,513
Other Expense Adjustments$3,403,513
Expenses Not Reported on Form 990$5,654
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
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
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Question 6

Describe the classes of members or stockholders: hendrick medical center is the sole member of hendrick provider network.

Form 990, Part VI, Question 7A

Persons who may elect one or more members of the governing body: the member, hendrick medical center, shall elect the successors of the initial directors.

Form 990, Part VI, Question 7B

Decisions of governing body subject to approval by other persons: article vii of the restated articles of incorporation provides, in part, that an amendment to article ii relating to the purpose of the corporation and article vi relating to the number and method of the election or appointment of the board of trustees shall occur only with the consent of the baptist general convention of texas or its executive board.

Form 990, Part VI, Question 11

Describe review process of form 990: the organization engages an outside accounting firm to prepare form 990. Once prepared, the form is reviewed by the organization's internal accountants prior to filing.

Form 990, Part VI, Question 12C

Describe the organization's practice for monitoring compliance with policy: the organization conducts, at a minimum, annual reviews of the possible conflicts of interest and other financial relationships identified under this conflict of interest policy.

Form 990, Part VI, Question 15A

Process for determining compensation of ceo, directors, or top officials: a comprehensive review of compensation is conducted by an independent party at least every three years. This report presents the results of the analysis of salary, incentive, total cash compensation (salary plus incentive), benefits, and total compensation (total cash and benefits). Integrated healthcare strategies (ihs) works with the personnel committee to formally define an executive total compensation philosophy. Hendrick health system's current philosophy is to use ranges built around the median of the market with a 50% spread from minimum to maximum. Incentive opportunity levels are competitive with practices of peer groups and benefits will be delivered at market competitive levels. Severance and perquisites reflect a conservative philosophy. The committee determined that the peer group would be primarily regional not-for-profit hospitals of similar size and complexity. National peer group will be used for reference purposes where appropriate. The hendrick health system personnel committee is delegated the responsibility for the executive compensation program by the board of trustees. The committee: sets the overall executive compensation philosophy to be implemented by hendrick health system; sets compensation components for the president & ceo; reviews, discusses and makes decisions based on the president & ceo's recommendations for his direct reports; reports a summary of the process back to the board of trustees along with the actual compensation approved for the president and ceo; and approves all incentive goals and awards.

Form 990, Part VI, Question 19

Describe whether the organization makes its documents available to public: the organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Hendrick Provider Network
EIN
75-2660403
In Care Of
% JEREMY WALKER
Phone
3256702000
Address
PO BOX 3117, ABILENE, TX 79604

Signing Officer

Name
Jeremy Walker
Title
Chief Financial Officer
Phone
3256702000
Signed
2016-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Lancaster
Formed
1995
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
0
Employees
335
Volunteers
0

Preparer

Firm
Bkd Llp
Address
2800 Post Oak Blvd Ste 3200, HOUSTON, TX 77056
Preparer
Amanda Maya
Phone
7134994600
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Question 9

Other changes in net assets: equity contributions $15,619,169

Financial Statement Notes

Part XI, Questions 2D & 4B

Reconciliation of revenue per audited financial statements to form 990 revenue on books, not on return: bad debt expense in audit revenue ($3,403,513) revenue on return, not on books: loss on asset disposal in audit expense ( 5,654)

Part XII, Questions 2D & 4B

Reconciliation of expense per audited financial statements to form 990 expense on books, not on return: loss on asset disposal in audit revenue 5,654 expense on return, not on books: bad debt expense in audit revenue 3,403,513

Part X, Question 2

Fin 48 financial statements footnote in accordance with asc 740-10 fasb interpretation (fin 48), accounting for uncertainty in income taxes, management evaluated hendrick's tax positions and concluded that hendrick had taken no uncertain tax positions that required adjustment to the financial statements to comply with the provisions of this guidance. With a few exceptions, hendrick is no longer subject to income tax examinations by the u.s. Federal, state or local tax authorities for years before 2012.

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IRS990/Desc0HENDRICK PROVIDER NETWORK OPERATES A PRENATAL CLINIC AND ALSO PROVIDES WOMEN'S HEALTH SERVICES, ONCOLOGY, CARDIOLOGY, CARDIOVASCULAR, FAMILY MEDICINE, RHEUMATOLOGY, PLASTIC SURGERY, GENERAL SURGERY, NEUROLOGY, ENDOCRINOLOGY, UROLOGY, OPHTHALMOLOGY, SLEEP MEDICINE AND INTERNAL MEDICINE SERVICES FOR PATIENTS IN THE ABILENE AND SURROUNDING AREA, MANY OF WHOM ARE UNINSURED OR ARE ON MEDICAID. THESE SERVICES ARE PROVIDED BY PHYSICIANS EMPLOYED BY THE COMPANY.
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IRS990/Form990PartVIISectionAGrp/TitleTxt10PHYSICIAN
IRS990/Form990PartVIISectionAGrp/TitleTxt11PHYSICIAN
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IRS990/MinutesOfGoverningBodyInd0true
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IRS990/Organization501c3Ind0X
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0136276
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531120
IRS990/ProgramServiceRevenueGrp/Desc0NET PATIENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1RELATED NMTC RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt026911214

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$22.3$21.6$0.74$74.6$142$67.5
2023Summary only. Only limited summary data is available for this year.$19.1$22.1$2.99$91.9$161$68.6
2022Summary only. Only limited summary data is available for this year.$20.7$19.7$0.99$80.8$144$63.1
2021Summary only. Only limited summary data is available for this year.$16.4$13.9$2.57$65.8$121$54.7
2020Summary only. Only limited summary data is available for this year.$20.4$22.7$2.28$49.5$87.8$38.3
2019Summary only. Only limited summary data is available for this year.$20.1$18.7$1.42$45.7$79.7$34.0
2018Summary only. Only limited summary data is available for this year.$19.8$19.8$0.00$41.2$69.7$28.5
2017Summary only. Only limited summary data is available for this year.$18.9$17.5$1.35$36.4$62.8$26.4
2016Summary only. Only limited summary data is available for this year.$18.2$15.9$2.35$32.1$52.2$20.1
2015Detailed filing. Detailed filing data is available for this year.$17.4$16.5$0.90$28.2$44.9$16.7
2014Summary only. Only limited summary data is available for this year.$17.4$15.4$1.99$22.7$35.1$12.4
2013Summary only. Only limited summary data is available for this year.$4.48$2.51$1.97$28.3
2012Summary only. Only limited summary data is available for this year.$4.60$1.58$3.02$20.9
2011Summary only. Only limited summary data is available for this year.$1.59$1.16$0.43$13.6
2010Summary only. Only limited summary data is available for this year.$2.05$0.96$1.10$13.2