Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $756,961

• 1f · All other contributions, gifts and grants

  $9,358,032

• 1g · Noncash contributions included above

  $208,040

• 3 · Investment income

  total $416,321 · excluded $416,321

• 7a · Gross sales of assets other than inventory

  securities $2,503,679

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

  securities $586,070

• 7c · Gain or loss

  securities $1,917,609

• 7d · Net gain or loss

  total $1,917,609 · excluded $1,917,609

• 8a · Fundraising events: gross income

  $181,181

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

  $756,961

• 8b · Fundraising events: direct expenses

  $216,820

• 8c · Net income from fundraising events

  total -$35,639 · excluded -$35,639

• 9a · Gaming: gross income

  $16,419

• 9b · Gaming: direct expenses

  $155

• 9c · Net income from gaming

  total $16,264 · excluded $16,264

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,004,937 · program services $8,004,937

• 2 · Grants to domestic individuals

  total $103,039 · program services $103,039

• 11f · Fees: investment management

  total $57,524 · management and general $57,524

• 11g · Fees: other

  total $1,253,228 · management and general $238,993 · fundraising $1,014,235

• 12 · Advertising and promotion

  total $1,925 · management and general $220 · fundraising $1,705

• 13 · Office expenses

  total $120,013 · program services $102,238 · management and general $16,236 · fundraising $1,539

• 14 · Information technology

  total $601 · management and general $69 · fundraising $532

• 16 · Occupancy

  total $9,009 · management and general $1,027 · fundraising $7,982

• 17 · Travel

  total $13,794 · management and general $1,573 · fundraising $12,221

• 19 · Conferences, conventions and meetings

  total $4,169 · management and general $475 · fundraising $3,694

• 24a · Other expenses: Food and beverages

  total $7,764 · management and general $885 · fundraising $6,879

Balance sheet

Part X, book values.

• 3 · Pledges and grants receivable

  beginning of year $443,411 · end of year $100,219

• 9 · Prepaid expenses and deferred charges

  beginning of year $46,786 · end of year $109,013

• 11 · Investments: publicly traded securities

  beginning of year $29,594,981 · end of year $25,218,642

• 12 · Investments: other securities

  beginning of year $39,296,389 · end of year $47,043,006

• 15 · Other assets

  beginning of year $1,589,653 · end of year $358,832

• 17 · Accounts payable and accrued expenses

  beginning of year $32,810 · end of year $34,623

• 25 · Other liabilities

  beginning of year $5,449,904 · end of year $4,125,036

• 27 · Net assets without donor restrictions

  beginning of year $16,068,966 · end of year $17,339,362

• 28 · Net assets with donor restrictions

  beginning of year $49,419,540 · end of year $51,330,691

The filer's explanations (Part III)

Part I, Line 3

The compensation for the Organization's CEO was established by a related organization, Concord Hospital. That organization established the CEO's compensation by using a compensation committee, independent compensation consultant, and a compensation study. The compensation was also approved by the Hospital's compensation committee.

Part I, Lines 4a-b

Form 990, Schedule J, Line 4a, Severance Payments and Separation Agreements: Concord Hospital Trust is a related organization to Concord Hospital. Mark Bakken, who served the Concord Hospital System as its Chief Operating Officer in this Form 990 reporting period, has been deemed a Key Employee of both the Trust and the Hospital. Effective in September 2025 and during the fiscal year covered by this return, Mary Bakken ceased employment with Concord Hospital. As per the terms of her separation agreement, she is to be paid her regular salary for 52 weeks, her accrued 457(f) as well as her Senior Management Incentive for the Fiscal Year. As these payments are to be made to her after the calendar year ending within the current fiscal year, these payments are not reflected in Schedule J, Part II which reports compensation and benefits based on calendar year end 2024. Mary Bakken's total severance payments of $122,030 and $474,041 will be reported in her 2025 and 2026 Form W-2, as applicable, as part of her Box 5 taxable wages Form 990, Schedule J, Line 4b, Non-Qualified Deferred Compensation Plans: Concord Hospital Trust is a related organization to Concord Hospital. Accordingly, certain individuals who are reported on Concord Hospital Trust's Form 990, Part VII and Schedule J, as Trustees, Officers, or Key Employees, participate in Concord Hospital's non-qualified deferred compensation plans. Robert P. Steigmeyer, President & CEO, and Scott Sloane, Treasurer and CFO, each participated in a 457(f) plan with Concord Hospital, Inc. during the fiscal year covered by this tax return. Under the terms of the plan, amounts deferred and contributed to the plan are subject to a three-year vesting period. After satisfying this vesting period, 457(f) deferred amounts are to be included in the participants' taxable W-2 wages. The calendar year ending within the Hospital's current reporting period of September 30, 2025 (tax year 2024) includes amounts previously set aside as deferred under these named individuals' 457(f) plan more than three years ago, and have therefore become vested. Accordingly, these individuals are now recognizing in their W-2 taxable wages vested 457(f) plan deferrals. For the period covered by this tax return, included within these individuals' 2024 Form W-2 taxable income, are vested 457(f) deferrals of the below-listed amounts, which represent amounts previously reported on Schedule J, Part II, Column C, as deferred compensation for the fiscal year ending September 30, 2021. In accordance with IRS instructions, this vested and taxable amount has been included in Schedule J, Part II, Column B(iii) and Column F. - Robert P. Steigmeyer: $197,425 - Scott Sloane: $26,462 Beginning with the September 30, 2015, tax year, there have been contributions to Mr. Steigmeyer's 457(f) plan. Each contribution, plus earnings, will be reported in Mr. Steigmeyer's W-2 after a three-year vesting period. For the fiscal years ended September 30, 2023, 2024, and 2025, Mr. Steigmeyer received total plan contributions (including interest and investment credits) of $231,021, $247,552, and $269,284, respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amount included in Mr. Steigmeyer's deferred compensation amounts in this Schedule J, Part II, Column C, includes the $192,330 contribution to his 457(f) plan, plus $55,221 of earnings. During the year ending September 30, 2021, the Hospital established a Supplemental Executive Retirement Plan (SERP) for the Senior Vice Presidents of Concord Hospital. Under the terms of this SERP, the Hospital credits Senior Executives' accounts at the end of each fiscal year, and the credit shall vest and become payable on the third anniversary of the date such amounts are credited to the account, provided the Senior Executives remain continuously employed through the applicable vesting date. The three-year vesting period SERP amount will be included in taxable W-2 wages upon vesting and payment. For the fiscal years ended September 30, 2023, 2024, and 2025, total contributions to the SERP, including interest and investment earnings credits, were as follows for the applicable participating executives: - Scott Sloane: $48,021, $76,659, and $86,249, respectively; and - Mary Bakken: $44,441, $72,323, and $80,410, respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amount included in these individuals' deferred compensation amounts on this Schedule J, Part II, Column C, including contributions to their 457(f) plans and earnings, are as follows: - Scott Sloane: contributions, $66,661; interest credit, $9,998. And, - Mary Bakken: contributions, $66,562; interest credit, $5,761.

Part I, Line 7

Concord Hospital Trust is part of the Concord Hospital Health System. All officers, employees, executives, physicians, contractors and/or other labor providers who offer services to Concord Hospital Trust are legally and technically employed and compensated by either Concord Hospital, Inc., the Organization's sole member. However, persons who qualify as officers, directors, trustees, key employees, or highest compensated employees of Concord Hospital Trust may receive non-fixed payments from the Concord Hospital System in return for services rendered on behalf of Concord Hospital Trust, as defined below: Incentive Pay: The primary purpose of the incentive pay is to recognize the quality of the performance of the CEO, CFO, COO, and CMO during the preceding fiscal year. The amount of the incentive pay bonus is based on performance relative to strategic goals and measurable objectives. When the executive's performance excels, the incentive pay should reflect the accomplishment and allow for the sum of base salary and incentive pay to reach as high as the 75th percentile of peer institutions.

Related partnerships

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

• Concord Imaging Center LLC

  Provide radiology services to community · NH

• Capital Orthopedic Surgery Center

  Provide medical care to community · NH

Related corporations and trusts

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

• Capital Region Health Services Corp

  C · Medical services · NH

• Capital Region Primary Care Corp

  C · Inactive · NH

• CH Memorial West Condominium Association

  C · Rental properties and condominiums · NH

• Hillside Medical Park Condo Association

  C · Rental properties and condominiums · NH

• Lakes Region Medical Office Building

  C · Rental properties and condominiums · NH