Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $303,262

• 1e · Government grants (contributions)

  $14,483,661

• 1f · All other contributions, gifts and grants

  $1,150

• 2a · Program service revenue: Laboratory services

  total $248,027,424 · related or exempt $246,150,587 · unrelated business $1,876,837

• 2b · Program service revenue: Patient services

  total $226,540,447 · related or exempt $226,540,447

• 2c · Program service revenue: Pharmacy services

  total $198,276,175 · related or exempt $196,888,021 · unrelated business $1,388,154

• 2d · Program service revenue: Disproportionate share funding

  total $26,173,605 · related or exempt $26,173,605

• 2e · Program service revenue: Hospital Auxiliary Services

  total $10,316,382 · related or exempt $9,526,690 · unrelated business $789,692

• 3 · Investment income

  total $7,422,421 · excluded $7,422,421

• 6a · Gross rents

  real property $4,719,169

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $4,719,169

• 6d · Net rental income or loss

  total $4,719,169 · unrelated business $16,606 · excluded $4,702,563

• 7a · Gross sales of assets other than inventory

  securities $21,085,075 · other assets $673

• 7b · Less cost or other basis and sales expenses

  securities $20,665,980 · other assets $0

• 7c · Gain or loss

  securities $419,095 · other assets $673

• 7d · Net gain or loss

  total $419,768 · excluded $419,768

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $737,125 · program services $737,125

• 5 · Compensation of officers, directors and key employees

  total $1,994,170 · program services $1,718,737 · management and general $275,433

• 7 · Other salaries and wages

  total $202,768,789 · program services $174,762,505 · management and general $28,006,284

• 8 · Pension plan contributions

  total $8,738,440 · program services $7,531,493 · management and general $1,206,947

• 9 · Other employee benefits

  total $29,541,045 · program services $25,460,856 · management and general $4,080,189

• 10 · Payroll taxes

  total $13,368,439 · program services $11,522,000 · management and general $1,846,439

• 11a · Fees: management

  total $103,965,529 · management and general $103,965,529

• 11c · Fees: accounting

  total $47,250 · management and general $47,250

• 11d · Fees: lobbying

  total $62,786 · management and general $62,786

• 11f · Fees: investment management

  total $229,738 · management and general $229,738

• 11g · Fees: other

  total $24,439,774 · program services $24,347,319 · management and general $92,455

• 12 · Advertising and promotion

  total $215,793 · management and general $215,793

• 13 · Office expenses

  total $10,124,876 · program services $8,604,013 · management and general $1,520,863

• 14 · Information technology

  total $1,330,190 · program services $1,330,190

• 16 · Occupancy

  total $15,824,781 · program services $8,387,134 · management and general $7,437,647

• 19 · Conferences, conventions and meetings

  total $298,816 · program services $158,372 · management and general $140,444

• 20 · Interest

  total $5,221,808 · program services $2,621,713 · management and general $2,600,095

• 22 · Depreciation, depletion and amortization

  total $19,858,242 · program services $9,169,435 · management and general $10,688,807

• 23 · Insurance

  total $7,299,295 · program services $3,868,626 · management and general $3,430,669

• 24a · Other expenses: Medical supplies

  total $135,534,319 · program services $135,534,319

• 24b · Other expenses: NH MET

  total $30,422,378 · program services $30,422,378

• 24c · Other expenses: Provision for bad debts

  total $27,405,423 · program services $27,405,423

• 24d · Other expenses: Repairs and maintaince

  total $10,342,751 · program services $5,481,658 · management and general $4,861,093

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $58,592,705 · end of year $49,945,641

• 2 · Savings and temporary cash investments

  beginning of year $15,528,676 · end of year $1,210,057

• 3 · Pledges and grants receivable

  beginning of year $201,828 · end of year $0

• 4 · Accounts receivable

  beginning of year $55,871,853 · end of year $70,899,705

• 7 · Other notes and loans receivable

  beginning of year $751,045 · end of year $726,714

• 8 · Inventories for sale or use

  beginning of year $6,992,774 · end of year $7,905,380

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,216,056 · end of year $3,239,683

• 10a · Land, buildings and equipment: cost or other basis

  $581,739,344

• 10b · Land, buildings and equipment: accumulated depreciation

  $380,166,253

• 10c · Land, buildings and equipment, net

  beginning of year $196,008,383 · end of year $201,573,091

• 11 · Investments: publicly traded securities

  beginning of year $95,000,152 · end of year $111,658,516

• 12 · Investments: other securities

  beginning of year $184,822,439 · end of year $208,270,591

• 14 · Intangible assets

  beginning of year $10,723,515 · end of year $9,023,364

• 15 · Other assets

  beginning of year $35,138,578 · end of year $41,758,087

• 17 · Accounts payable and accrued expenses

  beginning of year $46,005,038 · end of year $40,318,742

• 18 · Grants payable

  beginning of year $73,402 · end of year $60,753

• 19 · Deferred revenue

  beginning of year $348,061 · end of year $330,602

• 20 · Tax-exempt bond liabilities

  beginning of year $136,662,488 · end of year $130,751,563

• 23 · Secured mortgages and notes payable

  beginning of year $14,269,147 · end of year $12,043,068

• 25 · Other liabilities

  beginning of year $100,230,114 · end of year $104,586,061

• 27 · Net assets without donor restrictions

  beginning of year $349,250,424 · end of year $399,990,535

• 28 · Net assets with donor restrictions

  beginning of year $16,009,330 · end of year $18,129,505

The filer's explanations (Part III)

Part I, Line 4b

The Elliot Health System and SolutionHealth, the parent-organization of the System, maintain 457(f) deferred compensation plans. The following individuals, each of whom qualify as either an officer, director, trustee, key employee, or highest compensated employee on this Form 990, Part VII, received contributions to their 457(f) deferred compensation plans during the 2023 calendar year as follows: - William G. Baxter: $162,287 - Michael Turilli: $80,692 - John E. Friberg, Esq.: $69,117 - Brad Kreick: $195,181 These amounts have been reported within the named individuals' deferred compensation figures as shown on this Schedule J, Part II, Column C. Additionally, Mr. Baxter took taxable distributions from his 457(f) plan during the 2023 calendar year in the amount of $689,747. Such amounts have been included within "Other Compensation" as reported on this Schedule J, Part II, Column B(iii). Furthermore, as such distributions relate to and have been paid from previous tax year 457(f) plan deferrals, $652,089 of the 2023 taxable distributions have also been reported as Prior Compensation, as shown on this Schedule J, Part II, Column F. The System historically maintained a defined benefit pension plan for certain employees, the Elliot Health System Pension Plan (the Plan). Effective July 1, 2006, the Plan was amended to close the Plan to employees hired after June 30, 2006. Eligible employees hired prior to July 1, 2006 are grandfathered under the Plan and will continue to accrue benefits as long as they remain at a participating System entity and in an eligible status. The System's funding policy is to contribute amounts to the Plan sufficient to meet minimum funding requirements set forth in the Employee Retirement Income Security Act of 1974, plus such additional amounts as might be determined to be appropriate from time to time. The Plan is intended to constitute a plan described in Section 414(k) of the Internal Revenue Code, under which benefits derived from employer contributions are based on the separate account balances of participants in addition to the defined benefits under the Plan. In calendar year 2023, no officers or other employees of Elliot Hospital received defined contributions under the now-closed 414(K) plan. Additionally, there were no defined benefit accrual adjustments for any of the Organization's listed individuals for the 2023 calendar year.

Part I, Line 7

The Organization has adopted an incentive pay program that provides designated management employees an opportunity to earn a designated percentage of salary based on the achievement of a number of critical Board Designated Goals. These goals are established annually by the management team with final approval by the independent Compensation Committee of the Board of Trustees with assistance from an independent national compensation consulting firm. The incentive award payments under the plan are considered by the compensation consultant and presented to and approved by the Compensation Committee of the Board of Trustees.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Elliot Common Trust Fund LLC

  Excluded · Investments · NH · 79.68% owned · share of income $2,320,116 · share of assets $128,515,369

  Directly controlled by Elliot Hospital

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Elliot Health System Holdings & Subsidiaries

  C · Management · NH