Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $712,126

• 1e · Government grants (contributions)

  $9,797,580

• 1f · All other contributions, gifts and grants

  $7,644,686

• 1g · Noncash contributions included above

  $5,436,745

• 2a · Program service revenue: NET PATIENT SVC REV

  total $815,143,319 · related or exempt $815,143,319

• 2b · Program service revenue: AMBULATORY CANCER CTR

  total $33,324,672 · related or exempt $33,324,672

• 2c · Program service revenue: MIH PROGRAM

  total $1,044,605 · related or exempt $1,044,605

• 2d · Program service revenue: RENTAL INCOME FROM AFF

  total $351,250 · related or exempt $351,250

• 2e · Program service revenue: HEALTH EDUCATION

  total $224,432 · related or exempt $224,432

• 2f · All other program service revenue

  total $968,415 · related or exempt $270,014 · unrelated business $698,401

• 3 · Investment income

  total $3,121,120 · excluded $3,121,120

• 6a · Gross rents

  real property $871,922

• 6b · Less rental expenses

  real property $474,305

• 6c · Rental income or loss

  real property $397,617

• 6d · Net rental income or loss

  total $397,617 · excluded $397,617

• 7a · Gross sales of assets other than inventory

  securities $11,338,654 · other assets $55,739

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

  securities $0 · other assets $81,279

• 7c · Gain or loss

  securities $11,338,654 · other assets -$25,540

• 7d · Net gain or loss

  total $11,313,114 · excluded $11,313,114

• 8a · Fundraising events: gross income

  $424,486

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

  $712,126

• 8b · Fundraising events: direct expenses

  $424,486

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $2,945

• 9b · Gaming: direct expenses

  $555

• 9c · Net income from gaming

  total $2,390 · excluded $2,390

• 10a · Gross sales of inventory

  $560,581

• 10b · Cost of goods sold

  $306,069

• 10c · Net income from sales of inventory

  total $254,512 · excluded $254,512

• 11a · Other revenue: FOOD SERVICE SALES

  total $5,422,211 · related or exempt $2,291,164 · excluded $3,131,047

• 11b · Other revenue: SHIELDS IMAGING

  total $2,719,379 · excluded $2,719,379

• 11c · Other revenue: LABORATORY SERVICES

  total $1,483,474 · unrelated business $1,483,474

• 11d · All other revenue

  total $1,977,933 · related or exempt $1,200,684 · excluded $777,249

• 11e · Other revenue, total

  $11,602,997

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $500 · program services $500

• 2 · Grants to domestic individuals

  total $19,500 · program services $19,500

• 5 · Compensation of officers, directors and key employees

  total $6,053,834 · program services $2,434,644 · management and general $3,619,190

• 7 · Other salaries and wages

  total $481,769,331 · program services $431,240,575 · management and general $48,613,439 · fundraising $1,915,317

• 9 · Other employee benefits

  total $52,749,586 · program services $46,600,632 · management and general $5,612,665 · fundraising $536,289

• 10 · Payroll taxes

  total $35,652,065 · program services $31,819,649 · management and general $3,832,416

• 11a · Fees: management

  total $1,697,797 · management and general $1,697,797

• 11d · Fees: lobbying

  total $35,640 · management and general $35,640

• 11g · Fees: other

  total $13,151,369 · program services $7,000,509 · management and general $6,138,910 · fundraising $11,950

• 12 · Advertising and promotion

  total $664,133 · management and general $664,133

• 13 · Office expenses

  total $176,867,481 · program services $168,412,727 · management and general $8,428,867 · fundraising $25,887

• 14 · Information technology

  total $45,022,180 · program services $38,162,885 · management and general $6,789,269 · fundraising $70,026

• 16 · Occupancy

  total $13,170,996 · program services $7,169,719 · management and general $5,827,584 · fundraising $173,693

• 17 · Travel

  total $532,671 · program services $431,225 · management and general $23,588 · fundraising $77,858

• 20 · Interest

  total $7,709,778 · program services $5,396,845 · management and general $2,312,933

• 22 · Depreciation, depletion and amortization

  total $28,577,753 · program services $20,004,427 · management and general $8,573,326

• 23 · Insurance

  total $5,444,492 · program services $4,743,265 · management and general $701,227

• 24a · Other expenses: EQUIP MAINT CONTRACT

  total $7,707,810 · program services $6,917,463 · management and general $790,347

• 24b · Other expenses: CATERING & FOOD

  total $5,073,090 · management and general $5,073,090

• 24c · Other expenses: REPAIRS

  total $3,080,696 · program services $899,613 · management and general $2,181,083

• 24d · Other expenses: MINOR EQUIPMENT

  total $2,956,715 · program services $2,842,037 · management and general $114,678

• 24e · All other expenses

  total $12,075,846 · program services $7,881,114 · management and general $4,254,479 · fundraising -$59,747

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,671,589 · end of year $5,722,374

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $4,889,074 · end of year $3,855,298

• 4 · Accounts receivable

  beginning of year $92,173,609 · end of year $106,455,829

• 5 · Loans and receivables from officers and key people

  beginning of year $2,348,225 · end of year $2,412,690

• 8 · Inventories for sale or use

  beginning of year $11,944,065 · end of year $11,847,427

• 9 · Prepaid expenses and deferred charges

  beginning of year $9,932,436 · end of year $9,362,743

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

  $637,425,766

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

  $403,988,382

• 10c · Land, buildings and equipment, net

  beginning of year $232,010,508 · end of year $233,437,384

• 11 · Investments: publicly traded securities

  beginning of year $221,639,462 · end of year $249,545,806

• 13 · Investments: program-related

  beginning of year $6,064,845 · end of year $8,744,347

• 15 · Other assets

  beginning of year $63,316,011 · end of year $58,224,425

• 17 · Accounts payable and accrued expenses

  beginning of year $73,448,974 · end of year $85,679,052

• 19 · Deferred revenue

  beginning of year $1,182,263 · end of year $756,100

• 20 · Tax-exempt bond liabilities

  beginning of year $162,305,360 · end of year $153,647,471

• 25 · Other liabilities

  beginning of year $70,708,851 · end of year $74,153,661

• 27 · Net assets without donor restrictions

  beginning of year $332,214,978 · end of year $355,436,809

• 28 · Net assets with donor restrictions

  beginning of year $16,129,398 · end of year $19,935,230

The filer's explanations (Part III)

PART I, LINE 3

FOR FY24 COMPENSATION DECISIONS, THE HOSPITAL'S PARENT COMPANY, SOUTH SHORE HEALTH SYSTEM, HAS A COMPENSATION COMMITTEE THAT MAKES COMPENSATION DECISIONS FOR ALL SYSTEM EXECUTIVES. THE COMPENSATION COMMITTEE MEETS PERIODICALLY AND ENGAGES AN INDEPENDENT EXTERNAL COMPENSATION CONSULTING FIRM TO ESTABLISH THE COMPENSATION OF THE SSH PRESIDENT AND OTHER KEY EMPLOYEES. THE CONSULTING FIRM DEVELOPS AND PRESENTS ALL MATERIALS INCLUDING MARKET TRENDS, COMPENSATION STUDIES AND SURVEYS, AND ADHERES TO BEST PRACTICES GUIDELINES. THE FINAL RECOMMENDATION FOR COMPENSATION CHANGES IS PRESENTED AND APPROVED BY THE ENTIRE INDEPENDENT COMMUNITY OF THE SYSTEM'S BOARD OF DIRECTORS.

PART I, LINE 4A

KRISTINE HANSCOM, FORMER CFO & TREASURER, RECEIVED $586,000 IN SEVERANCE PAYMENTS AND TIMOTHY R LYNCH, FORMER CHIEF MEDICAL OFFICER, RECEIVED $383,089 IN SEVERANCE PAYMENTS DURING CALENDAR YEAR 2023.

PART I, LINE 7

THE NON-FIXED PAYMENTS PROVIDED CONSIST OF STIPENDS.

Related corporations and trusts

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

• SOUTH SHORE HEALTH INTEGRATED DELIVERY NETWORK INC

  C · TO DEVELOP & MAINTAIN A NETWORK OF PROVIDERS FOR DELIVERY OF HEALTHCARE SERV · MA