Grace Medical Center Inc
TO PROVIDE QUALITY COMPASSIONATE HEALTH CARE AND COMMUNITY-BASED SERVICES THAT SEEK TO IMPROVE THE HEALTH OF THE COMMUNITY.
IRS Tax Year 2023
Period ending June 30, 2024
Total Revenue
$9.2M
Total Expenses
$25.1M
Net Assets
$23.0M
Employees
192
Program Expense Ratio
63.4%
This nonprofit profile presents IRS Form 990 tax filing data for Grace Medical Center Inc (EIN: 52-0591555), based on the 2023 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Grace Medical Center Inc is a 501(c)(3) nonprofit headquartered in BALTIMORE, MD, founded in 1920. The organization has held tax-exempt status since 1946. In its 2023 filing, the organization reported $9.2M in total revenue, a 14.4% decrease from the prior year, and $25.1M in total expenses. The organization employed 192 people. NEIL M MELTZER, DIRECTOR/LBH PRESIDENT/CEO, is the highest-compensated individual at $3,866,428. The organization runs 1 program, totaling $15.9M in program expenses. 4 of 6 recommended governance policies are in place.
Grace Medical Center Inc is classified under NTEE code E220. Its foundation type is 12.
Programs(Tax Year 2023)
1 record
Grace Medical Center Inc operates 1 program, with total program expenses of $15.9M. Grace Medical Center Inc's largest program accounts for 100% of total program spending.
SEE SCHEDULE O.
Financial Overview(Tax Years 2020–2023)
4 records
Over the past 4 years, Grace Medical Center Inc's revenue has declined from $34.9M to $9.2M, a 73.6% decrease. Program expenses represent 63% of total spending.
Revenue decreased 14.4% year-over-year, while expenses declined 1.6%. net assets rose to $23.0M, up 539.9% from the prior year. the organization reduced headcount by 189 employees.
Grace Medical Center Inc derives 6% from contributions and grants, with 91% from program services, with 1% from investment income.
Revenue is heavily concentrated: 91% comes from program service revenue, indicating limited diversification.
Grace Medical Center Inc allocates 63% to programs, 37% to management and general.
Revenue declined by 14.4% and expenses declined by 1.6% year over year.
Over 4 filings from 2020–2023, Grace Medical Center Inc declined revenue from $34.9M to $9.2M (-73.6%) while maintaining a program expense ratio of 63%. During this period, the organization reduced from 694 to 192 employees.
Grace Medical Center Inc holds $86.1M in total assets against $63.1M in liabilities (debt-to-asset ratio of 73%). The organization has 11.0 months of operating reserves. Cash and equivalents of $8.7M cover approximately 4.2 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2023 | $9.2M | $556K | $0 | $8.4M | $58K |
| 2022 | $10.8M | $723K | $55K | $9.3M | $53K |
| 2021 | $23.2M | $592K | $0 | $21.4M | $-337K |
| 2020 | $34.9M | $7.4M | $6.6M | $30.1M | $-3.2M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2023 | $25.1M | $15.9M | $9.2M | $0 | $0 |
| 2022 | $25.5M | $17.4M | $8.1M | $0 | $0 |
| 2021 | $34.1M | $24.9M | $9.2M | $0 | $0 |
| 2020 | $63.2M | $44.3M | $18.9M | $0 | $0 |
Program Expense Ratio
63.4%
Admin Expense Ratio
36.6%
Fundraising Efficiency
—
Operating Reserve
11.0 mo
People & Compensation(Tax Year 2023)
18 records
Grace Medical Center Inc reported compensation for 18 officers and key employees. Total officer compensation was $12.6M, representing 50.1% of total expenses. 7 individuals received total compensation exceeding $500,000.
Grace Medical Center Inc's highest-compensated individual received $3.9M in total compensation. Total officer compensation of $12.6M represents 50.1% of total expenses. 5 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| NEIL M MELTZER | DIRECTOR/LBH PRESIDENT/CEO | Director | 1.00 | $0 | $3,815,188 | $3,866,428 |
| LESLIE SIMMONS THRU 723 | COO,LBH,INTERIM PRES. SHB&GMC | Director | 1.00 | $0 | $1,747,479 | $1,868,566 |
| DAVID KRAJEWSKI | EX OFFICIO-ASSISTANT TREASURER | Officer | 40.00 | $0 | $1,730,081 | $1,776,381 |
| DR MATTHEW POFFENROTH MD | VICE PRESIDENT, LBH CPE | Officer | 1.00 | $0 | $1,200,508 | $1,376,825 |
| JASON WEINER | EX OFFICIO-ASSISTANT SECRETARY | Officer | 40.00 | $0 | $1,002,448 | $1,207,976 |
| REBECCA ALTMAN THRU 1023 | VICE PRESIDENT, LBH VP | Officer | 1.00 | $0 | $476,091 | $540,695 |
| Amy Schlossman | President (AS 0F 7/23) | OfficerDirector | 40.00 | $0 | $489,355 | $523,899 |
| MICHELLE BERKLEY-BROWN | AVP OPERATIONS | Highest Comp | 40.00 | $260,928 | $0 | $264,489 |
| YASMEEN AHMED MD | PHYSICIAN | Highest Comp | 40.00 | $248,984 | $0 | $262,306 |
| DANIEL BLUM THRU 223 | GMC PRES, SVP LBH/ PRES SHB | Former | 1.00 | $0 | $198,873 | $200,515 |
| RENEE ROBINSON | DIRECTOR CLINICAL INFORMATICS | Highest Comp | 40.00 | $173,475 | $0 | $182,886 |
| TERRY BROWN | DIRECTOR OPS & MONITORING | Highest Comp | 40.00 | $180,265 | $0 | $182,855 |
| THEODORA BALIS MD | PRIMARY CARE PHYSICIAN | Highest Comp | 40.00 | $177,930 | $0 | $182,506 |
| ARSALAN SHEIKHMD THRU 523 | CHIEF MEDICAL OFFICER | Former | 40.00 | $122,005 | $0 | $129,123 |
| JONATHAN DAVIDOV | CHAIR | OfficerDirector | 1.00 | $0 | $0 | $0 |
| DENNIS WEINMAN | VICE CHAIR/SECRETARY/TREASURER | OfficerDirector | 1.00 | $0 | $0 | $0 |
| MICHAEL GAINES SR | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| VENROY JULY | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
LESLIE SIMMONS THRU 723
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
DAVID KRAJEWSKI
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
DR MATTHEW POFFENROTH MD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
JASON WEINER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
REBECCA ALTMAN THRU 1023
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
MICHELLE BERKLEY-BROWN
Base Salary
$227,451
Bonus
$33,085
Other Reportable
$392
Retirement/Deferred
$2,920
Nontaxable Benefits
$641
YASMEEN AHMED MD
Base Salary
$247,796
Bonus
—
Other Reportable
$1,188
Retirement/Deferred
$3,843
Nontaxable Benefits
$9,479
RENEE ROBINSON
Base Salary
$155,219
Bonus
$18,013
Other Reportable
$243
Retirement/Deferred
$6
Nontaxable Benefits
$9,405
TERRY BROWN
Base Salary
$151,585
Bonus
$12,272
Other Reportable
$16,408
Retirement/Deferred
$2,116
Nontaxable Benefits
$474
THEODORA BALIS MD
Base Salary
$177,199
Bonus
—
Other Reportable
$731
Retirement/Deferred
$2
Nontaxable Benefits
$4,574
DANIEL BLUM THRU 223
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
ARSALAN SHEIKHMD THRU 523
Base Salary
$121,846
Bonus
—
Other Reportable
$159
Retirement/Deferred
$1,897
Nontaxable Benefits
$5,221
NEIL M MELTZER
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Amy Schlossman
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Top Contractors(Tax Year 2023)
5 records
Grace Medical Center Inc reported 5 contractors receiving over $100,000, with total contractor payments of $1.6M.
| Name | Service | Compensation |
|---|---|---|
| JOHNSON CONTROLS | EQUIP. MAINTENANCE | $702,607 |
| MEDHELP INC | BILLING SERVICES | $331,781 |
| ALLIED UNIVERSAL | PROTECTION SERVICES | $260,935 |
| QUALIVIS LLC | AGENCY NURSES | $171,597 |
| COVE ELECTRIC INC | CONTRACTED SERVICES | $144,506 |
Governance & Compliance(Tax Year 2023)
Grace Medical Center Inc has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 5 members, 4 of whom are independent.
Grace Medical Center Inc's financial statements are audited, an audit committee oversees the process, the organization is subject to a federal grant audit (Single Audit).
Policies & Oversight
Audit & Financial Oversight
Filing History(Tax Years 1946–2023)
4 records
Showing the 4 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2023 | 990 | 2023-07-01 – 2024-06-30 | $9.2M | $25.1M | $23.0M |
| 2022 | 990 | 2022-07-01 – 2023-06-30 | $10.8M | $25.5M | $-5.2M |
| 2021 | 990 | 2021-09-01 – 2022-06-30 | $23.2M | $34.1M | $16.4M |
| 2020 | 990 | 2020-09-01 – 2021-08-31 | $34.9M | $63.2M | $11.1M |
| 1946–2019 | No filings acquired yet | ||||
Frequently Asked Questions
What does Grace Medical Center Inc do?
TO PROVIDE QUALITY COMPASSIONATE HEALTH CARE AND COMMUNITY-BASED SERVICES THAT SEEK TO IMPROVE THE HEALTH OF THE COMMUNITY.
How much revenue does Grace Medical Center Inc have?
Grace Medical Center Inc reported $9,218,035 in total revenue for tax year 2023, down 14.4% from the prior year.
Who is the highest-paid executive at Grace Medical Center Inc?
NEIL M MELTZER, DIRECTOR/LBH PRESIDENT/CEO, received $3,866,428 in total compensation as of tax year 2023.
Is Grace Medical Center Inc a 501(c)(3)?
Yes, Grace Medical Center Inc is classified as a 501(c)(3) tax-exempt organization.
Where is Grace Medical Center Inc located?
Grace Medical Center Inc is headquartered in BALTIMORE, MD 21223.
How many employees does Grace Medical Center Inc have?
Grace Medical Center Inc has 192 employees as of tax year 2023.
Is Grace Medical Center Inc audited?
Yes, Grace Medical Center Inc's financial statements are audited, and the organization has an audit committee.
Data Source
Prepared by: BDO USA, MCLEAN, VA
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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