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    CPMC Annual Report 2008
    Community Benefit and Financial Statements

    Data from the 2008 CPMC Annual Report (PDF)

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    Community Benefit

    [Printed Report Page 44-45] [PDF Page 25]

    Services For The Poor And Underserved

    For The Year Ended December 3120082007 (As Restated)
    ServicesAmountPercent Of Net Patient RevenueAmountPercent Of Net Patient Revenue
    Traditional Charity Care7,582,000 0.69%5,351,000 0.52%
    Unpaid Costs of Public Programs: Medi-Cal56,517,000 5.19%56,332,000 5.51%
    Unpaid Costs of Public Programs: Medically Indigent Adult (MIA) program0 0.00%0 0.00%
    Other Benefits for the Poor and Underserved11,403,0001.04%12,373,0001.21%
    Total Quantifiable Services for the Poor and Underserved 75,502,0006.94%74,056,0007.25%

    Benefits For The Broader Community

    For The Year Ended December 3120082007 (As Restated)
    ServicesAmountPercent Of Net Patient RevenueAmountPercent Of Net Patient Revenue
    Nonbilled Services819,0000.07%650,0000.06%
    Education and Research51,795,0004.76%51,015,0004.99%
    Cash and In-kind Donations529,0000.04%572,0000.06%
    Other Community Benefits64,0000.00%49,0000.00%
    Total Quantifiable Benefits for the Broader Community53,207,0004.89%52,286,0005.12%

    For The Year Ended December 3120082007 (As Restated)
    ServicesAmountPercent Of Net Patient RevenueAmountPercent Of Net Patient Revenue
    Total Quantifiable Community Benefits128,709,00011.83%126,342,00012.37%
    Net Patient Revenue [Includes capitation revenue]1,087,736,000 1,021,533,000 

    California Pacific Medical Center Financial Statements

    [Printed Report Pages 48-49] [PDF Page 27]

    Combined Balance Sheets (In Thousands)

    Assets20082007
    Current assets: Cash and equivalents38,51864,479
    Current assets: Short-term investments96,801130,974
    Current assets: Patient accounts receivable (less allowance for doubtful accounts of $58,584)173,002169,363
    Current assets: Other receivables32,41131,965
    Current assets: Inventories7,9677,573
    Current assets: Other current assets4,6964,594
    Total current assets353,395408,948
    Noncurrent investments231,108329,907
    Property, plant, and equipment (net)721,604605,677
    Other assets: Unamortized financing costs1,3742,374
    Other Assets: Investments in health care–related businesses532532
    Other Assets: Other43,44146,343
    Other Assets: Total45,34749,249
    Total assets1,351,4541,393,781

    Liabilities and Net Assets20082007
    Liabilities and net assets: Current liabilities: Current maturities of long-term obligations3,4496,910
    Liabilities and net assets: Current liabilities: Accounts payable and accrued expenses152,259159,625
    Total current liabilities155,708166,535
    Noncurrent liabilities: Long-term obligations, less current maturities284,571286,004
    Noncurrent liabilities: Other39,72640,221
    Net assets: Unrestricted756,072780,794
    Net assets: Temporarily restricted73,89079,387
    Net assets: Permanently restricted41,48740,840
    Net Assets: Total871,449901,021
    Total liabilities and net assets1,351,4541,393,781

    California Pacific Medical Center Financial Statements

    [Printed Report Pages 50-51] [PDF Page 28]

    Combined Statement Of Operations And Changes In Net Assets (In Thousands)

    Unrestricted net assets20082007
    Unrestricted revenues, gains and other support: Patient service revenues1,129,9751,056,269
    Unrestricted revenues, gains and other support: Investment income-2,30243,318
    Other revenues94,32296,035
    Total revenues1,221,9951,195,622
    Operating expenses:Salaries and employee benefits591,546566,862
    Operating expenses: Purchased services198,868180,068
    Operating expenses: Supplies137,386129,654
    Operating expenses: Depreciation and amortization63,70757,171
    Operating expenses: Provision for bad debts36,37334,679
    Operating expenses: Interest19,33213,020
    Operating expenses: Rentals and leases17,93216,507
    Operating expenses: Insurance7,6248,446
    Operating expenses: Other45,55543,073
    Total operating expenses1,118,3231,049,480
    Income103,672146,142
    Change in net unrealized (losses) on investments-78,036-17,346
    Equity transfers between related entities-54,790-97
    Net assets released from restrictions for equipment acquisition5,0166,059
    Other-584-
    (Decrease) increase in unrestricted net assets-24,722134,758

    Temporarily restricted net assets20082007
    Contributions17,47014,812
    Investment income-2385
    Change in net unrealized gains and losses on investments-9,088-851
    Net assets released from restricted net assets-13,877-18,698
    Other-1,593
    Change in temporarily restricted net assets-5,497-2,759

     
    Permanently restricted net assets20082007
    Contributions6473,981
    Others-965
    Increase in permanently restricted net assets6474,946

    Net Assets20082007
    (Decrease) increase in net assets-29,572136,945
    Net assets, beginning of year901,021764,076
    Net assets, end of year871,449901,021

    California Pacific Medical Center Foundation Financial Statements

    [Printed Report Pages 112-113] [PDF Page 38]

    Combined Statements Of Financial Position For The Year Ended December 31

    Assets20082007
    (as restated) 
    Current assets: Cash and cash equivalents9,606,6492,089,006
    Current assets: Investments97,088,503130,702,479
    Current assets: Pledges receivable, net6,278,6034,518,409
    Current assets: Other current assets3,042,453940,729
    Total current assets116,016,208138,250,623
    Investments, less current portion46,194,79963,116,906
    Trust receivables4,450,2544,747,641
    Pledges receivable, less current portion8,849,04016,510,404
    Equipment, net of accumulated depreciation of $595,227 in 2008 ($499,556 in 2007)220,490228,227
    Other noncurrent assets113,56712,956
    Total assets175,844,358222,866,757

    Liabilities and net assets20082007
    (as restated) 
    Current liabilities: Accounts payable704,228873,765
    Current liabilities: Obligations under annuity agreements595,971599,658
    Current liabilities: Due to California Pacific Medical Center4,078,8064,256,792
    Current liabilities: Due to St. Luke’s Health Care Center51,44039,311
    Total current liabilities5,430,4455,769,526
    Obligations under annuity agreements, less current portion3,511,2143,546,575
    Deferred revenue2,165,0002,000,000
    Other noncurrent liabilities668,07218,524
    Net assets: Unrestricted62,022,357114,008,640
    Net assets: Temporarily restricted60,560,20156,683,235
    Net assets: Permanently restricted41,487,06940,840,257
    Net assets: Total164,069,627211,532,132
    Total liabilities and net assets175,844,358222,866,757

    Operating activities20082007
    Changes in net assets-47,462,50511,399,155
    Adjustments to reconcile change in net assets to net cash provided by operating activities: Depreciation95,67183,789
    Adjustments to reconcile change in net assets to net cash provided by operating activities: Change in net unrealized (losses) gains on investments46,575,0759,180,595
    Adjustments to reconcile change in net assets to net cash provided by operating activities: Permanently restricted contributions-646,812-3,981,159
    Adjustments to reconcile change in net assets to net cash provided by operating activities: Loss on disposal of equipment--
    Changes in operating assets and liabilities: Pledges receivable5,901,170-5,413,886
    Changes in operating assets and liabilities: Other assets-102,589269,981
    Changes in operating assets and liabilities: Due to California Pacific Medical Center-177,9862,259,531
    Changes in operating assets and liabilities: Due to St. Luke’s Health Care Center12,129-62,143
    Changes in operating assets and liabilities: Accounts payable and other liabilities601,11835,812
    Changes in operating assets and liabilities: Obligations under annuity agreements-39,048130,730
    Changes in operating assets and liabilities: Deferred revenue165,0002,000,000
    Net cash provided by operating activities4,921,22315,902,405

    Investing activities20082007
    Purchase of equipment-87,934-16,166
    Purchases of investments, net1,740,155-25,638,629
    Change in assets held in trust297,387-120,973
    Net cash used in investing activities1,949,608-25,775,768

    Financing activities20082007
    Permanently restricted contributions646,8123,981,159
    Net cash provided by financing activities646,8123,981,159
    Net increase (decrease) in cash and cash equivalents7,517,643-5,892,204
    Cash and cash equivalents, beginning of year2,089,0067,981,210
    Cash and cash equivalents, end of year9,606,6492,089,006

    California Pacific Medical Center Foundation Financial Statements

    [Printed Report Pages 114-115] [PDF Page 39]

    Combined Statement Of Activities And Changes In Net Assets For The Year Ended December 31

    Unrestricted net assets20082007
    (as restated)
    Unrestricted contributions and other support: Contributions2,182,7082,902,004
    Unrestricted contributions and other support: Other support2,202,5641,835,482
    Total contributions and other support4,385,2724,737,486
    Investment income and net (losses) gains-3,234,50920,570,101
    Service contract with California Pacific Medical Center6,998,6375,829,811
    Revenues of California Pacific Medical Center Guild683,242897,997
    Unrestricted net assets: Total8,832,64232,035,395
    Net assets released due to satisfaction of donor restrictions12,899,86716,503,197
    Total revenues and other support21,732,50948,538,592

    Unrestricted expenditures and other operating expenses20082007
    Program expenditures: Programs of California Pacific Medical Center21,785,05424,793,020
    Operating expenses: Fund raising3,501,2193,192,832
    Operating expenses: Management and general1,673,2541,592,529
    Operating expenses: California Pacific Medical Center Guild888,948974,862
    Total unrestricted expenditures and operating expenses27,848,47530,553,243
    (Decrease) increase before net unrealized (losses) gains on investments and other-6,115,96617,985,349
    Change in net unrealized (losses) on investments-45,870,318-8,878,474
    Other----
    (Decrease) increase in unrestricted net assets-51,986,2849,106,875

    Temporarily restricted net assets20082007
    (as restated)
    Contributions17,469,81314,911,469
    Investment income and net gains11,778181,515
    Change in net unrealized (losses) gains on investments-704,757-302,121
    Net assets released from restrictions due to satisfaction of donor restrictions-12,899,867-16,503,197
    Other--23,455
    Increase (decrease) in temporarily restricted net assets3,876,967-1,688,879
    Permanently restricted assets: Contributions646,8123,981,159
    Increase in permanently restricted net assets646,8123,981,159
    Change in net assets-47,462,50511,399,155
    Net assets, beginning of year211,532,132200,132,977
    Net assets, end of year164,069,627211,532,132