Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $147,092

• 1e · Government grants (contributions)

  $5,319

• 1f · All other contributions, gifts and grants

  $1,852,449

• 1g · Noncash contributions included above

  $38,429

• 2a · Program service revenue: Patient Services

  total $20,238,309 · related or exempt $20,238,309

• 3 · Investment income

  total $553,051 · excluded $553,051

• 7a · Gross sales of assets other than inventory

  securities $462,241

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

  securities $369,121

• 7c · Gain or loss

  securities $93,120

• 7d · Net gain or loss

  total $93,120 · excluded $93,120

• 8a · Fundraising events: gross income

  $30,284

• 8a · Fundraising events: contributions included on line 1c

  $147,092

• 8b · Fundraising events: direct expenses

  $78,818

• 8c · Net income from fundraising events

  total -$48,534 · excluded -$48,534

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $492,570 · program services $373,915 · management and general $118,655

• 7 · Other salaries and wages

  total $12,240,530 · program services $9,869,069 · management and general $1,986,000 · fundraising $385,461

• 8 · Pension plan contributions

  total $198,006 · program services $106,563 · management and general $91,443

• 9 · Other employee benefits

  total $2,120,880 · program services $1,869,708 · management and general $247,654 · fundraising $3,518

• 10 · Payroll taxes

  total $789,960 · program services $567,432 · management and general $222,528

• 11b · Fees: legal

  total $28,213 · management and general $28,213

• 11c · Fees: accounting

  total $91,738 · management and general $91,738

• 11d · Fees: lobbying

  total $7,189 · management and general $7,189

• 11f · Fees: investment management

  total $38,125 · management and general $38,125

• 11g · Fees: other

  total $70,187 · management and general $70,187

• 12 · Advertising and promotion

  total $30,705 · program services $689 · management and general $30,016

• 13 · Office expenses

  total $493,631 · program services $217,665 · management and general $225,463 · fundraising $50,503

• 14 · Information technology

  total $386,031 · program services $215,989 · management and general $160,626 · fundraising $9,416

• 16 · Occupancy

  total $450,717 · program services $289,136 · management and general $161,581

• 17 · Travel

  total $261,481 · program services $230,278 · management and general $30,943 · fundraising $260

• 19 · Conferences, conventions and meetings

  total $216,071 · program services $67,418 · management and general $120,175 · fundraising $28,478

• 20 · Interest

  total $1,250 · management and general $1,250

• 22 · Depreciation, depletion and amortization

  total $730,216 · program services $236,950 · management and general $493,266

• 23 · Insurance

  total $95,107 · program services $2,343 · management and general $92,764

• 24a · Other expenses: Care services/supplies

  total $2,917,188 · program services $2,915,187 · management and general $2,001

• 24b · Other expenses: Provision for bad debts

  total $13,940 · program services $13,940

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,692,462 · end of year $1,155,343

• 2 · Savings and temporary cash investments

  beginning of year $9,852,019 · end of year $11,607,600

• 3 · Pledges and grants receivable

  beginning of year $195,124 · end of year $120,374

• 4 · Accounts receivable

  beginning of year $1,740,093 · end of year $1,962,191

• 9 · Prepaid expenses and deferred charges

  beginning of year $185,560 · end of year $355,236

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

  $15,795,794

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

  $6,164,464

• 10c · Land, buildings and equipment, net

  beginning of year $9,661,163 · end of year $9,631,330

• 11 · Investments: publicly traded securities

  beginning of year $4,235,330 · end of year $5,380,239

• 14 · Intangible assets

  beginning of year $18,946 · end of year $18,946

• 15 · Other assets

  beginning of year $115,085 · end of year $150,674

• 17 · Accounts payable and accrued expenses

  beginning of year $2,127,021 · end of year $2,273,515

• 23 · Secured mortgages and notes payable

  beginning of year $103,830 · end of year $67,520

• 25 · Other liabilities

  beginning of year $115,085 · end of year $150,674

• 27 · Net assets without donor restrictions

  beginning of year $24,025,302 · end of year $25,353,407

• 28 · Net assets with donor restrictions

  beginning of year $2,324,544 · end of year $2,536,817

The filer's explanations (Part III)

Part I, Line 7

From time-to-time the Organization may pay various employees or executives bonuses, performance rewards, or other non-fixed incentive compensation. The payment of these awards is discretionary and is subject to meeting pre-determined goals based on measurable metrics.

Form 990, Schedule J, Compensation Paid from Unrelated Organization:

Hospice of Southern Maine contracted with AMS Accounting & Professional Services, an unrelated organization, to provide accounting, finance, and management services during this tax year. AMS Accounting and Professional Services was paid $43,411 during this tax year in return for services provided by Frank O'Connor. In his capacity as the Organization's engaged Consulting Accountant, Frank O'Connor serves in a role materially similar to that of the Finance Manager, and so has been deemed an Officer on this Form 990, Part VII; and the payments made to AMS Accounting & Professional Services has been deemed to be compensation paid from an unrelated organization in return for Officer-related services.