Phoebe Putney is worth $589 million - WALB.com, Albany News, Weather, Sports

Phoebe Putney is worth $589 million

Posted: Updated:
  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Local artists auction work to benefit Albany Humane Society

    Local artists auction work to benefit Albany Humane Society

    Tuesday, September 16 2014 4:07 AM EDT2014-09-16 08:07:28 GMT
    Animal lovers can give back to the Albany Humane Society in a very unique way. Local artists will be auctioning off their work to benefit the non-profit organization through Artists for Animals. More >>
    Animal lovers can give back to the Albany Humane Society in a very unique way. Local artists will be auctioning off their work to benefit the non-profit organization through Artists for Animals. 
    More >>
  • Worth County is Camera Ready

    Worth County is Camera Ready

    Monday, September 15 2014 10:50 PM EDT2014-09-16 02:50:56 GMT
    Karen Rackley, Sylvester-Worth County Chamber of Commerce Executive DirectorKaren Rackley, Sylvester-Worth County Chamber of Commerce Executive Director
    Every county in Georgia is now camera ready.Worth County is one of the final 20 counties that just earned the designation meant to show television and movie producers that local communities are able and willing to help them. More >>
    Every county in Georgia is now camera ready.Worth County is one of the final 20 counties that just earned the designation meant to show television and movie producers that local communities are able and willing to help them. More >>
  • Sylvester city departments remain without phone service

    Sylvester city departments remain without phone service

    Monday, September 15 2014 10:50 PM EDT2014-09-16 02:50:33 GMT
    Bill Yearta, Mayor of SylvesterBill Yearta, Mayor of Sylvester
    All city departments in Sylvester remain without phone service. The phone system went down on Monday at Sylvester City Hall and the police, fire, and public works departments.More >>
    All city departments in Sylvester remain without phone service. The phone system went down on Monday at Sylvester City Hall and the police, fire, and public works departments.More >>

By Christian Jennings - bio | email

ALBANY,  GA (WALB) – Phoebe Putney is raking in the money. The hospitals' assets totaled a whopping $589 million in 2010, up $145 million from the previous year.

Auditors went over Phoebe Putney's 2010 Fiscal year financial statements with the hospital's finance committee Wednesday morning.

The audit showed the hospital spent $113 million in the community benefit category on things such as health fairs and the school nurse program. It's money used to keep their non-profit tax exempt status.

The hospital also put $107 million toward charity patients and bad debts.

"Draffin and Tucker basically told us we had a successful year. The hospital met its budget and we did get a little return in the stock market, so we did get a little more money in investment portfolio this year, and produced a bottom line that allows us to continue to meet the mission of the hospital," said Phoebe C.O.O. Joe Austin.

The HCA-Palmyra Hospital acquisition will appear on the 2011 audit.

The Phoebe board is going over the audit right now.

We'll have more on WALB News 10 at 5 and on walb.com when it becomes available.


©2010 WALB News. All rights reserved.   Feedback