However, in near miraculous fashion, this financial strength of these Catholic Hospitals has been resurrected in the most recent three years, due mainly to many wise, decisive actions by the Obama Administration, coupled with assistance by actions by the Fed, which created a US economic infrastructure which permitted US large businesses to flourish. Thus the investments of these Catholic Hospitals in stocks and bonds of US large businesses have also been substantially enhanced.
From an extensive review of the financial statements of US Catholic Hospitals, I found 22 of them with Net Assets (i.e. Excess of Total Assets over Total Liabilities) of more than $800 mil each, and which had comparable Net Asset disclosures in the most recent three-year periods. These financial statements were found mainly in two very fine Internet sources: DAC Bond and EMMA (i.e. Electronic Municipal Market Access of the Municipal Securities Rulemaking Board).
These 22 Catholic Hospital Organizations had total Net Assets of $70.3 bil at the most recent reported balance sheet date, which was March 31, 2012 for most of them.
In comparison, the total Net Assets of these same 22 Catholic Hospital Organizations was $63.6 bil one year ago, and was $49.3 bil at their respective fiscal year ends (FYEs) of the closest date to three years earlier.
Thus, the Net Assets of these 22 Catholic Hospital Organizations increased by $21 bil, or by 42%, in just the most recent three years, or during the entire Obama Administration so far.
When you think about it, that 42% Net Asset growth in only three years is just incredible. The overwhelming majority of the Net Assets balance at any time is the cumulative tax-free profits, both from hospital operations and from investments, since the inception of the hospital organizations.
In just the most recent three years, these 22 Catholic Hospital Organizations generated a 42% profit growth on their Net Asset balance of three years ago, which was accumulated over decades and decades of hospital operations and investment returns.
Clearly, the executives of Catholic Hospitals, all employees of Catholic Hospitals, all retirees of Catholic Hospitals, the Board of Directors of Catholic Hospitals, and the bondholders of these Catholic Hospitals have to all be just elated with what has happened with the financial strength of their Catholic Hospitals during the Obama Administration.
Below here are these 22 Catholic Hospital Organizations, along with their Net Asset Amounts, during the most recent three years of the Obama Administration.
| Most | Three | Three | Obama | Obama | |||
| Recent | Years | Years | Bump | Bump | |||
| Most | Balance | Earlier | Earlier | Net | Net | ||
| Recent | Sheet | FYE | FYE | Assets | Assets | ||
| Catholic Hospitals | Balance | Net | Balance | Net | Increase | Increase | |
| Sheet | Assets | Sheet | Assets | Amount | % | ||
| Hospital Organization | HQs | Date | mils $s | Date | mils $s | mils $s | |
| Ascension Health | St Louis, MO | Mar 12 | 12,891 | Jun 09 | 8,275 | 4,616 | 56% |
| Catholic Health Initiatives | Denver, CO | Mar 12 | 7,989 | Jun 09 | 5,505 | 2,484 | 45% |
| Providence Health | Seattle, WA | Mar 12 | 6,396 | Dec 08 | 3,911 | 2,485 | 64% |
| Trinity Health | Novi, MI | Mar 12 | 5,435 | Jun 09 | 4,030 | 1,405 | 35% |
| Dignity Health | San Fran, CA | Mar 12 | 5,387 | Jun 09 | 3,622 | 1,765 | 49% |
| Catholic Health East | Newton Square, PA | Mar 12 | 3,305 | Dec 08 | 1,978 | 1,327 | 67% |
| St Joseph Health System | Orange, CA | Mar 12 | 2,843 | Jun 09 | 2,076 | 767 | 37% |
| Mercy Health | St Louis, MO | Dec 11 | 2,831 | Jun 09 | 2,118 | 713 | 34% |
| Sisters of Charity Leavenworth | Lenexa, KS | Mar 12 | 2,782 | Dec 08 | 2,571 | 211 | 8% |
| Marian Health System | Tulsa, OK | Dec 11 | 2,440 | Dec 08 | 2,103 | 337 | 16% |
| Catholic Health Partners | Cincinnati, OH | Mar 12 | 2,424 | Dec 08 | 1,614 | 810 | 50% |
| Christus Health | Houston, TX | Dec 11 | 2,347 | Jun 09 | 2,119 | 228 | 11% |
| Hospital Sisters Health System | Springfield, IL | Mar 12 | 2,129 | Jun 09 | 1,697 | 432 | 25% |
| Franciscan Alliance | Mishawaka, IN | Mar 12 | 1,996 | Dec 08 | 1,463 | 533 | 36% |
| PeaceHealth | Bellevue, WA | Mar 12 | 1,548 | Jun 09 | 897 | 651 | 73% |
| SSM Health Care | St Louis, MO | Mar 12 | 1,411 | Dec 08 | 942 | 469 | 50% |
| Saint Francis Health System | Tulsa, OK | Mar 12 | 1,395 | Jun 09 | 946 | 449 | 47% |
| Via Christi Health | Wichita, KS | Mar 12 | 1,009 | Sep 09 | 846 | 163 | 19% |
| Ministry Health Care | Milwaukee, WI | Mar 12 | 1,003 | Sep 08 | 674 | 329 | 49% |
| Catholic Health Services | Long Island, NY | Mar 12 | 950 | Dec 08 | 561 | 389 | 69% |
| Bon Secours Health System | Baltimore, MD | Feb 12 | 909 | Aug 09 | 703 | 206 | 29% |
| OSF Healthcare System | Peoria, IL | Mar 12 | 837 | Sep 09 | 684 | 153 | 22% |
| Total 22 Hospital Organizations | 70,257 | 49,335 | 20,922 | 42% |
Yeah, that's right, all 22 Catholic Hospital Groups registered increases in their Net Assets in the past two years. And all of these increases were very healthy.
In my next post, I’ll do a similar analysis of Total Net Assets in the most recent three years of many of the numerous huge US Non-Catholic, Non-Profit Hospital Organizations. My hunch is that the percentage increase in the Total Net Assets of these Non-Catholic, Non-Profit Hospitals during the Obama Administration will be even significantly higher than the superb 42% increase experienced by the US Catholic Hospitals.
