Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $944,671

• 1e · Government grants (contributions)

  $2,393,157

• 2a · Program service revenue: NET PATIENT SERVICE REVENUE

  total $245,999,413 · related or exempt $245,999,413

• 2b · Program service revenue: PHYSICIAN REVENUE

  total $4,868,834 · related or exempt $4,868,834

• 2c · Program service revenue: BILLING SERVICE REVENUE

  total $52,089 · unrelated business $52,089

• 3 · Investment income

  total $1,339,174 · excluded $1,339,174

• 6a · Gross rents

  real property $900,860

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $900,860

• 6d · Net rental income or loss

  total $900,860 · related or exempt $900,860

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

  securities $218,316 · other assets $479,108

• 7c · Gain or loss

  securities -$218,316 · other assets -$479,108

• 7d · Net gain or loss

  total -$697,424 · excluded -$697,424

• 11a · Other revenue: CAFETERIA REVENUE

  total $914,105 · excluded $914,105

• 11b · Other revenue: WELLNESS CENTER

  total $386,284 · unrelated business $386,284

• 11e · Other revenue, total

  $1,300,389

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,729,286 · management and general $4,729,286

• 7 · Other salaries and wages

  total $101,372,317 · program services $94,700,520 · management and general $6,536,754 · fundraising $135,043

• 8 · Pension plan contributions

  total $1,498,147 · program services $1,468,703 · management and general $29,444

• 9 · Other employee benefits

  total $12,967,678 · program services $12,613,811 · management and general $334,047 · fundraising $19,820

• 10 · Payroll taxes

  total $6,623,458 · program services $5,894,621 · management and general $728,837

• 11b · Fees: legal

  total $359,897 · program services $5,300 · management and general $354,597

• 11c · Fees: accounting

  total $139,098 · management and general $139,098

• 11f · Fees: investment management

  total $158,945 · management and general $158,945

• 11g · Fees: other

  total $15,663,745 · program services $13,325,940 · management and general $2,337,446 · fundraising $359

• 12 · Advertising and promotion

  total $1,351,418 · program services $67,881 · management and general $1,283,537

• 13 · Office expenses

  total $1,318,602 · program services $1,153,261 · management and general $163,490 · fundraising $1,851

• 14 · Information technology

  total $368,952 · program services $101,081 · management and general $267,871

• 16 · Occupancy

  total $12,405,411 · program services $11,050,144 · management and general $1,354,716 · fundraising $551

• 17 · Travel

  total $232,246 · program services $167,692 · management and general $64,554

• 19 · Conferences, conventions and meetings

  total $95,714 · program services $89,044 · management and general $6,670

• 20 · Interest

  total $1,234,755 · program services $1,229,727 · management and general $5,028

• 22 · Depreciation, depletion and amortization

  total $8,521,408 · program services $284,947 · management and general $8,236,461

• 23 · Insurance

  total $1,197,690 · program services $761,194 · management and general $436,496

• 24a · Other expenses: PHARMACEUTICAL EXPENSES

  total $50,879,304 · program services $50,824,776 · management and general $54,528

• 24b · Other expenses: MEDICAL SUPPLIES

  total $20,517,535 · program services $19,815,888 · management and general $701,647

• 24c · Other expenses: PROVISION FOR BAD DEBTS

  total $9,170,761 · program services $1,055,810 · management and general $8,114,951

• 24d · Other expenses: QAAP TAX EXPENSE

  total $7,650,871 · program services $7,650,871

• 24e · All other expenses

  total $8,322,319 · program services $7,845,326 · management and general $457,893 · fundraising $19,100

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $71,556 · end of year $3,595,270

• 2 · Savings and temporary cash investments

  beginning of year $15,943,164 · end of year $30,053

• 4 · Accounts receivable

  beginning of year $31,537,338 · end of year $24,846,140

• 8 · Inventories for sale or use

  beginning of year $5,658,104 · end of year $5,159,998

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,269,308 · end of year $1,443,779

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

  $211,331,500

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

  $110,459,200

• 10c · Land, buildings and equipment, net

  beginning of year $102,907,152 · end of year $100,872,300

• 12 · Investments: other securities

  beginning of year $55,030,435 · end of year $37,133,135

• 14 · Intangible assets

  end of year $5,324,803

• 15 · Other assets

  beginning of year $7,804,688 · end of year $12,773,647

• 17 · Accounts payable and accrued expenses

  beginning of year $26,600,719 · end of year $26,443,470

• 19 · Deferred revenue

  beginning of year $9,640,017

• 20 · Tax-exempt bond liabilities

  beginning of year $60,099,085 · end of year $56,615,385

• 23 · Secured mortgages and notes payable

  beginning of year $5,855,997 · end of year $2,642,961

• 25 · Other liabilities

  beginning of year $1,409,701 · end of year $5,669,514

• 27 · Net assets without donor restrictions

  beginning of year $116,616,226 · end of year $99,807,795

The filer's explanations (Part III)

PART I, LINE 1A

PHYSICIANS LISTED IN FORM 990, PART VII (AS WELL AS ALL THE PHYSICIANS ON STAFF) ARE GENERALLY ALLOWED $4,000/YEAR PER THEIR CONTRACTS. USUALLY, THIS MONEY IS USED FOR BOOKS AND CONTINUING EDUCATION. THIS IS NOT REPORTED AS TAXABLE COMPENSATION TO THE PHYSICIANS.

PART I, LINE 7

MEMORIAL BONUSES ARE BASED ON OPERATING TARGETS BUT ARE PAID OUT AT THE DISCRETION AND APPROVAL OF THE BOARD OF DIRECTORS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MEMORIAL ASSISTED LIVING LLC

  PROVIDE HOUSING AND SUPPORT FOR THE ELDERLY · MI · income $61,547 · assets $7,119,482

  Directly controlled by MEMORIAL HOSPITAL

Related partnerships

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

• MEMORIAL HEALTHCARE PAIN MANAGEMENT

  RELATED · PROVIDE OUTPATIENT PAIN MANAGEMENT SERVICES · MI · 51% owned · share of income $160,668 · share of assets $442,312

  Directly controlled by MEMORIAL HOSPITAL

Related corporations and trusts

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

• MHC DEVELOPEMENT CORPORATION

  C · DEVELOPMENT OF ASSISTED LIVING PROPERTY · MI · 100% owned · share of income -$26,308 · share of assets $4,618,397 · controlled entity

  Directly controlled by MEMORIAL HOSPITAL