Revenues & Expenses
All figures for year ending Dec. 31, 2011
Revenue
| Net amount received from patient-care services |
$1,825,289,000 |
| Other operating revenues and income |
$64,386,000 |
| Unrestricted contributions* |
$2,022,000 |
| Total revenue and support |
$1,891,697,000 |
Expenses
| Salaries and benefits paid to employees |
$1,044,317,000 |
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| Operating expenses |
$741,829,000 |
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| Depreciation, which represents the cost of use of buildings and equipment |
$105,534,000 |
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| Interest expense on borrowed funds |
$38,692,000 |
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Total expenses |
$1,930,372,000 | |||
| Initial funds available to be invested toward the health-care needs of our community |
$(38,675,000) |
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| Gain on investments in stocks and bonds | $3,325,000 | |||
| Impact to organization's reserve funds | $(35,350,000) | |||
Taxes Paid |
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| Employer's share of payroll taxes |
$61,016,000 |
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| Business and occupancy taxes** |
$24,005,000 |
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| Sales and use tax - direct |
$52,850,000 |
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| Total Taxes |
$139,284,000 |
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Community Benefit
| Health-related research |
$11,460,000 |
| Community health activities and non-billed services |
$3,076,000 |
| Charity care |
$35,882,000 |
| Medical education |
$10,354,000 |
| Medicaid subsidy |
$84,446,000 |
| Total |
$145,218,000 |
Foundation 2011 Contributions from All Sources
| Unrestricted |
$2,022,000 |
| Restricted |
$14,421,000 |
|
Event revenue |
$2,179,000 |
| Marsha Rivkin Center donations |
$1,499,000 |
|
Auxiliary revenue, net of expenses |
- |
| Total |
$20,121,000
|
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* Refer to detail of all Foundation contributions. **Sales tax are also paid when merchandise is purchased. These taxes are included with the cost of the merchandise and are not tracked separately. We estimate 2011 sales tax paid with merchandise purchases to be approximately $5,389,939. Swedish Medical Center is classified as a not-for-profit organization under Section 501 (c) (3) of the Internal Revenue Code. In accordance with this status, Swedish provides more than $145 million in charity care and other community benefits. Any excess revenue over expenses is reinvested into the medical center, allowing Swedish to continue providing the community the best possible health care. |
