Revenues
|
2002
|
2001
|
|
Net patient service revenue
|
$59,904
|
$59,193
|
|
Research revenue
|
34,081
|
28,983
|
|
Other
|
8,395
|
5,894
|
|
Total operating revenue
|
$102,380
|
$94,070
|
|
|
|
Expenses
|
|
|
Compensation and benefits
|
$45,707
|
$41,661
|
|
Supplies and other expenses
|
21,248
|
21,484
|
|
Direct research cost
|
25,932
|
22,119
|
|
Depreciation
|
6,142
|
5,424
|
|
Provision for bad debts
|
1,883
|
2,151
|
|
Interest
|
1,278
|
1,367
|
|
Total operating expenses
|
$102,190
|
$94,206
|
|
|
|
|
Income (loss) from operations
|
$190
|
($136)
|
|
|
|
Non-operating gains (expenses)
|
|
|
Income (loss) from investments
|
-860
|
323
|
|
Gifts and other, net of expenses
|
1,019
|
2,847
|
|
Academic and research gifts, net of expenses
|
1,168
|
163
|
|
System development funding
|
-2,173
|
-1,661
|
|
Excess (deficit) of revenues over expenses
|
($656)
|
$1,536
|
|
|
2002 and 2001 Balance Sheet
|
2002
|
2001
|
Current assets
|
|
|
Cash and investments
|
$11,677
|
$13,897
|
|
Current portion of investments limited as to use
|
9,955
|
7,064
|
|
Patient accounts receivable
|
6,335
|
7,859
|
|
Other current assets
|
1,792
|
2,227
|
|
Total current assets
|
29,759
|
31,047
|
|
|
|
|
Investments limited as to use
|
16,016
|
15,917
|
Interest in the net assets of
|
|
|
The Massachusetts General Hospital
|
37,696
|
40,792
|
|
Property and other long-term assets
|
62,377
|
62,009
|
|
Total assets
|
$145,848
|
$149,765
|
|
|
|
Current Liabilities
|
|
|
Accounts payable and accrued expenses
|
$13,627
|
$15,533
|
|
Accrued compensations and benefits
|
4,441
|
4,345
|
|
Total current liabilities
|
$18,068
|
$19,878
|
|
Other long-term liabilities
|
$10,024
|
$11,330
|
|
Long-term debt, less current portion
|
$24,098
|
$25,584
|
|
Total liabilities
|
$52,190
|
$56,792
|
|
|
|
Net assets
|
|
|
Unrestricted
|
$40,841
|
$47,116
|
|
Temporarily restricted
|
27,372
|
20,762
|
|
Permanently restricted
|
25,445
|
25,095
|
|
Total net assets
|
93,658
|
92,973
|
|
Total liabilities and net assets
|
$145,848
|
$149,765
|
