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 Headlines

  • Tuesday, June 18 2013 12:32 AM EDT2013-06-18 04:32:02 GMT
    The United Way of Southwest Georgia honors more than a dozen organizations for their leadership in supporting United Way agencies. United Way raised about 1.1-million dollars this year. That's up slightly
    The United Way of Southwest Georgia honors more than a dozen organizations for their leadership in supporting United Way agencies.
  • Tuesday, June 18 2013 12:31 AM EDT2013-06-18 04:31:27 GMT
    Dougherty County School Board members want property owners to know, they won't raise your taxes despite another tight budget year. Monday night Board members held a public hearing to give people a chance
    Dougherty County School Board members want property owners to know, they won't raise your taxes despite another tight budget year.
  • Tuesday, June 18 2013 12:23 AM EDT2013-06-18 04:23:09 GMT
    The opening of Albany's new airport terminal remains on schedule despite a delay in the ceremonial opening. Travelers will begin using the new facility at Southwest Georgia Regional Airport two weeks from
    The opening of Albany's new airport terminal remains on schedule despite a delay in the ceremonial opening.

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