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Nonprofiteer
← BANNER MEDICAL GROUP

Form 990 for tax year 2024

Filed by BANNER MEDICAL GROUP.

Totals

Total revenue
$609,389,041
Total expenses
$822,940,766
Contributions and grants received
$2,015,031
Grants paid
$0
Program service revenue
$604,020,294
Investment income
$332,155
Other revenue
$3,021,561
Total assets, end of year
$174,303,495
Total liabilities, end of year
$119,155,852
Net assets or fund balances, end of year
$55,147,643
Program services expenses (Part IX)
$740,754,192
Management and general expenses
$82,186,574
Fundraising expenses
$0
Program service expenses (Part III)
$740,754,192

Program services were 90.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CAROL KARP

    TREASURER/Division CFO

    Total calculated
    $575,087
    From this org
    $529,587
    From related orgs
    $0
    Other
    $45,500
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $359,653
    Bonus
    $133,356
    Other
    $36,578
    Deferred
    $21,441
    Nontaxable benefits
    $24,059
    Filer's total
    $575,087

  • GARRICK RICHARDS MD

    Director/Secretary / COO - Medical Group (Thru Feb 2024)

    Total calculated
    $203,142
    From this org
    $199,852
    From related orgs
    $0
    Other
    $3,290
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $31,104
    Bonus
    $168,633
    Other
    $115
    Deferred
    $1,269
    Nontaxable benefits
    $2,021
    Filer's total
    $203,142

  • Monica Bejarano

    COO/Secretary

    Total calculated
    $378,795
    From this org
    $349,467
    From related orgs
    $0
    Other
    $29,328
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $259,072
    Bonus
    $72,118
    Other
    $18,277
    Deferred
    $27,485
    Nontaxable benefits
    $1,843
    Filer's total
    $378,795

  • SHIVA BIRDI MD

    CEO/President/Chair

    Total calculated
    $1,113,721
    From this org
    $934,046
    From related orgs
    $0
    Other
    $179,675
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $511,686
    Bonus
    $372,102
    Other
    $50,258
    Deferred
    $144,716
    Nontaxable benefits
    $34,959
    Filer's total
    $1,113,721

  • GORDON COHEN MD

    Physician

    Total calculated
    $1,245,025
    From this org
    $1,218,034
    From related orgs
    $0
    Other
    $26,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $990,013
    Bonus
    $220,675
    Other
    $7,346
    Deferred
    $0
    Nontaxable benefits
    $26,991
    Filer's total
    $1,245,025

  • JOHN TOTH MD

    Physician

    Total calculated
    $1,374,217
    From this org
    $1,333,033
    From related orgs
    $0
    Other
    $41,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $668,069
    Bonus
    $640,095
    Other
    $24,869
    Deferred
    $13,800
    Nontaxable benefits
    $27,384
    Filer's total
    $1,374,217

  • MARTIN BENOIT MD

    PHYSICIAN

    Total calculated
    $1,397,707
    From this org
    $1,354,582
    From related orgs
    $0
    Other
    $43,125
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $919,451
    Bonus
    $407,649
    Other
    $27,482
    Deferred
    $13,800
    Nontaxable benefits
    $29,325
    Filer's total
    $1,397,707

  • Michael Saint-Cyr MD

    PHYSICIAN

    Total calculated
    $1,560,337
    From this org
    $1,526,281
    From related orgs
    $0
    Other
    $34,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $588,209
    Bonus
    $921,899
    Other
    $16,173
    Deferred
    $12,777
    Nontaxable benefits
    $21,279
    Filer's total
    $1,560,337

  • RAJEEV KATHURIA MD

    Physician

    Total calculated
    $1,558,590
    From this org
    $1,523,754
    From related orgs
    $0
    Other
    $34,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $885,260
    Bonus
    $622,130
    Other
    $16,364
    Deferred
    $13,800
    Nontaxable benefits
    $21,036
    Filer's total
    $1,558,590

  • DAVID BIXBY

    Former Secretary (Termed 6/30/2022)

    Total calculated
    $334,657
    From this org
    $0
    From related orgs
    $258,418
    Other
    $76,239
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $258,418 related
    Other
    $0
    Deferred
    $0 + $76,239 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $334,657 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE COMPENSATION OF THE ORGANIZATION'S CEO IS DETERMINED BY A RELATED TAX-EXEMPT ORGANIZATION. SEE SCHEDULE O FOR FORM 990, PART VI, LINES 15A AND 15B FOR THE PROCESS USED BY THE RELATED ORGANIZATION TO DETERMINE COMPENSATION.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
EXEC 457(F) - COVERED APPROXIMATELY 100 FORMER AND CURRENT EXECUTIVES. THIS NONQUALIFIED PLAN IS HELD AT FIDELITY INVESTMENTS. VESTING OCCURS UPON MEETING VESTING REQUIREMENTS (SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE). AWARDS ARE SUBJECT TO A ROLLING THREE-YEAR VESTING SCHEDULE - OR A TEAM MEMBER REACHES THE AGE OF 65, 3 YEARS FROM THE DATE OF DEPOSIT. TAXATION OCCURS UPON DISTRIBUTION (IF VESTED). THE ONLY CONTRIBUTIONS ALLOWED ARE EMPLOYER CONTRIBUTIONS. PAYOUT AMOUNTS ARE TAXABLE AND INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). DEPOSIT AMOUNTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). 2024 457(F) Distributions: Shiva Birdi MD $26,401 Carol Karp $11,135 2024 457(F) Contributions : Shiva Birdi MD $32,538 Carol Karp $7,641
Schedule J, Part I, Line 7 Non-fixed payments
1. THE INDIVIDUALS IDENTIFIED BELOW PARTICIPATE IN A LONG-TERM INCENTIVE PLAN (LTIP) COVERING THREE-YEAR CYCLES FROM, 2022-2024, 2023-2025 AND 2024-2026. THE LTIP WAS DESIGNED AT THE INITIATIVE OF THE BANNER BOARD OF DIRECTORS WITH THE ASSISTANCE OF WILLIS TOWERS WATSON, AND ALL COMPONENTS WERE APPROVED BY THE BOARD. THE PLANS' AREAS OF PERFORMANCE TARGETS INCLUDE: IMPROVING THE RN EXPERIENCE, EXPANDING MARKET PRESENCE, and JOURNEY TO ZERO HARM . AWARDS ARE CALCULATED AS A PERCENTAGE OF BASE SALARY ON THE LAST DAY OF THE THREE-YEAR CYCLE, AND OPPORTUNITY VARIES BY POSITION LEVEL. THE PLAN REQUIRES A THRESHOLD LEVEL OF FINANCIAL PERFORMANCE BEFORE ANY AWARDS CAN BE MADE, AND THE AMOUNT OF THE AWARDS VARIES WITH THE DEGREE OF ACHIEVEMENT OF THE TARGETS. THE MAXIMUM LTIP PAYOUT OPPORTUNITY RANGES FROM 30% TO 255% OF THE BASE SALARY as of December 31 in the last year of the three-year plan. AWARDS HAVE BEEN ACCRUED UNDER THE LTIP, BUT NO PAYMENTS ARE MADE UNTIL AFTER YEAR-END AND ACHIEVEMENT IS VERIFIED BY THE BANNER HEALTH BOARD COMPENSATION COMMITTEE AND APPROVED BY THE FULL BOARD OF DIRECTORS OF BANNER HEALTH. ALL LTIP COMPENSATION PAYMENTS ARE REPORTED IN THE INCENTIVE AND BONUS COMPENSATION SHOWN IN SCHEDULE J, PART II, COLUMN (B)(II). AMOUNTS PAID FOR THE 2021-2023 CYCLE ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B) AS BONUS & INCENTIVE COMPENSATION. AMOUNTS ACCRUED FOR 2024 FOR THE 2022-2024, 2023-2025, 2024-2026 CYCLES (TO BE PAID OUT IN 2025, 2026, AND 2027 RESPECTIVELY) ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C) AS DEFERRED COMPENSATION. 2. Banner Health HAS A MANAGEMENT INCENTIVE PLAN (MIP) WHICH IS BASED ON COMPANYACHIEVEMENT OF SEVERAL FINANCIAL AND NON-FINANCIAL/CLINICAL QUALITY METRICS THAT ARE ESTABLISHED ANNUALLY BY THE Banner Health BOARD OF DIRECTORS. AWARDS ARE GRANTED AS A PERCENTAGE OF THE PARTICIPANT'S BASE SALARY AND VARY WITH THE POSITION LEVEL OF THE PARTICIPATING EMPLOYEE, RANGING FROM 7% TO 110% OF BASE SALARY. IN 2024, THERE WERE 1,441 MIP PARTICIPANTS. THE MIP WAS ACCRUED IN 2023 FOR THE 2024 MIP payout. MIP COMPENSATION IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(II). 3. Clinical Physicians employed by Banner are typically paid on the basis of a compensation system that incorporates a base salary and a non-fixed productivity component that is based upon the physician's productivity. All bonus and incentive compensation under this plan is included in Schedule J, Part II, Column B(ii).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

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

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.1
Source object
202523119349301217

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