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← MEDICAL CENTER COMPANY

Form 990 for tax year 2024

Filed by MEDICAL CENTER COMPANY.

Totals

Total revenue
$44,015,704
Total expenses
$41,592,692
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$43,503,828
Investment income
$511,876
Other revenue
$0
Total assets, end of year
$122,001,862
Total liabilities, end of year
$79,038,812
Net assets or fund balances, end of year
$42,963,050
Program services expenses (Part IX)
$38,008,735
Management and general expenses
$3,583,957
Fundraising expenses
$0
Program service expenses (Part III)
$38,008,735

Program services were 91.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RECEIPTS

    total $43,503,828 · related or exempt $43,503,828

  • 3 · Investment income

    total $511,876 · excluded $511,876

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $826,901 · program services $594,629 · management and general $232,272

  • 7 · Other salaries and wages

    total $3,266,136 · program services $2,276,538 · management and general $989,598

  • 8 · Pension plan contributions

    total $174,745 · program services $144,402 · management and general $30,343

  • 9 · Other employee benefits

    total $384,140 · program services $317,491 · management and general $66,649

  • 10 · Payroll taxes

    total $274,718 · program services $227,055 · management and general $47,663

  • 11a · Fees: management

    total $1,307,566 · management and general $1,307,566

  • 11f · Fees: investment management

    total $17,393 · management and general $17,393

  • 13 · Office expenses

    total $773,166 · management and general $773,166

  • 16 · Occupancy

    total $119,307 · management and general $119,307

  • 20 · Interest

    total $2,486,386 · program services $2,486,386

  • 22 · Depreciation, depletion and amortization

    total $5,153,195 · program services $5,153,195

  • 23 · Insurance

    total $827,476 · program services $827,476

  • 24a · Other expenses: ELECTRIC POWER

    total $13,462,387 · program services $13,462,387

  • 24b · Other expenses: GAS

    total $7,700,962 · program services $7,700,962

  • 24c · Other expenses: WATER

    total $2,977,721 · program services $2,977,721

  • 24d · Other expenses: SUPPLIES, REPAIRS AND M

    total $1,667,904 · program services $1,667,904

  • 24e · All other expenses

    total $172,589 · program services $172,589

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $17,339,523 · end of year $33,541,421

  • 4 · Accounts receivable

    beginning of year $2,882,221 · end of year $3,730,343

  • 7 · Other notes and loans receivable

    beginning of year $502,377 · end of year $261,251

  • 9 · Prepaid expenses and deferred charges

    beginning of year $895,327 · end of year $451,122

  • 10a · Land, buildings and equipment: cost or other basis

    $218,000,900

  • 10b · Land, buildings and equipment: accumulated depreciation

    $135,227,751

  • 10c · Land, buildings and equipment, net

    beginning of year $80,999,421 · end of year $82,773,149

  • 15 · Other assets

    beginning of year $1,003,896 · end of year $1,244,576

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,053,139 · end of year $4,292,167

  • 20 · Tax-exempt bond liabilities

    beginning of year $57,399,823 · end of year $74,746,645

  • 27 · Net assets without donor restrictions

    beginning of year $40,169,803 · end of year $42,963,050

Mission and programs · 2024

Mission

REFER TO SCHEDULE O NARRATIVE FOR FORM 990, PART I, LINE 1.

Activities or mission (Part I)

THE MEDICAL CENTER COMPANY ("MCCO") IS A NOT-FOR-PROFIT DISTRICT ENERGY COMPANY THAT PROVIDES LOW COST UTILITIES TO MANY OF UNIVERSITY CIRCLE'S HEALTHCARE, EDUCATIONAL, CULTURAL AND RELIGIOUS INSTITUTIONS. CASE WESTERN RESERVE UNIVERSITY AND UNIVERSITY HOSPITALS OF CLEVELAND ARE THE TWO MAJOR MEMBERS ON CAMPUS. A DISTRICT ENERGY SYSTEM OPTIMIZES THE USE OF FUELS, POWER AND RESOURCES WITHIN THE COMMUNITY, DELIVERING COST-EFFECTIVE SERVICES TO ITS CUSTOMERS AND OPERATING IN A MORE ENVIRONMENTALLY SUSTAINABLE MANNER.

  • PRODUCTION AND DISTRIBUTION OF ELECTRICITY, STEAM, HOT WATER, CHILLED WATER, COMPRESSED AIR AND VACUUM FOR LIGHTING, HEAT, POWER, COOLING, AND OTHER PURPOSES TO VARIOUS NOT-FOR-PROFIT ORGANIZATIONS. THE ACTIVITIES INCLUDE A CLIENT GAS AGGREGATION PROGRAM OF CLIENT MEMBERS.MCCO IS AN ENERGY DISTRICT FACILITY WITH A COMMITMENT TO REDUCING EMISSIONS AND PROMOTING CLEAN ENERGY. MCCO UTILIZES ENERGY EFFICIENCY OPTIMIZATION PROCESSES AND CONTINUES TO PURSUE ADDITIONAL RENEWABLE, SUSTAINABLE, AND RESILIENT ALTERNATIVES INCLUDING SOLAR ENERGY.

    Expenses $38,008,735 · Revenue $43,503,828

As filed on the 2024 return.

Listed in Part VII

  • Bradley Bond

    VICE CHAIRMAN/SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Corbett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Irvine McQuarrie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kathleen Heflin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Lee

    EXECUTIVE COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nico Viola

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ron Willner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Annapurna Valluri

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joe Ferrito

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Grant Goodrich

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dean Tufts

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    1

  • Stathis Antoniades

    EXECUTIVE COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ron Neill

    EXECUTIVE COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tricia Bires

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jason Pirtz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mc King

    PRESIDENT AND CEO

    Total calculated
    $500,438
    From this org
    $423,019
    From related orgs
    $0
    Other
    $77,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $423,019
    Bonus
    $0
    Other
    $0
    Deferred
    $46,385
    Nontaxable benefits
    $31,034
    Filer's total
    $500,438

  • Helena Repidonis

    EVP & COO

    Total calculated
    $326,463
    From this org
    $262,710
    From related orgs
    $0
    Other
    $63,753
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,710
    Bonus
    $0
    Other
    $0
    Deferred
    $31,901
    Nontaxable benefits
    $31,852
    Filer's total
    $326,463

  • William Lung

    STATIONARY ENGINEER - OPERATIONS

    Total calculated
    $130,799
    From this org
    $106,697
    From related orgs
    $0
    Other
    $24,102
    Hours/week
    40

  • Brandon Ware

    STATIONARY ENGINEER - OPERATIONS

    Total calculated
    $118,892
    From this org
    $101,887
    From related orgs
    $0
    Other
    $17,005
    Hours/week
    40

  • Mark Lamparelli

    CHIEF DISTRIBUTION TECH - SHOP

    Total calculated
    $137,632
    From this org
    $115,811
    From related orgs
    $0
    Other
    $21,821
    Hours/week
    40

  • Jeremy Urbassik

    CHIEF ENGINEER - MAINTENANCE

    Total calculated
    $154,488
    From this org
    $111,085
    From related orgs
    $0
    Other
    $43,403
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,085
    Bonus
    $0
    Other
    $0
    Deferred
    $13,121
    Nontaxable benefits
    $30,282
    Filer's total
    $154,488

  • Chris Pakiz

    CFO/CAO

    Total calculated
    $180,314
    From this org
    $144,309
    From related orgs
    $0
    Other
    $36,005
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,309
    Bonus
    $0
    Other
    $0
    Deferred
    $26,439
    Nontaxable benefits
    $9,566
    Filer's total
    $180,314

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.2
Source object
202513089349303221

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