Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $706,785

• 1d · Related organizations

  $12,729,806

• 1e · Government grants (contributions)

  $5,007,534

• 1f · All other contributions, gifts and grants

  $1,435,342

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

  total $1,151,861,464 · related or exempt $1,151,861,464

• 2b · Program service revenue: OTHER PROGRAM SERVICE REVENUE

  total $148,234,488 · related or exempt $148,234,488

• 3 · Investment income

  total $26,391,329 · unrelated business $6,791 · excluded $26,384,538

• 7a · Gross sales of assets other than inventory

  securities $586,034,132 · other assets $219,107

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

  securities $554,165,248 · other assets $0

• 7c · Gain or loss

  securities $31,868,884 · other assets $219,107

• 7d · Net gain or loss

  total $32,087,991 · excluded $32,087,991

• 8a · Fundraising events: gross income

  $235,596

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

  $706,785

• 8b · Fundraising events: direct expenses

  $978,417

• 8c · Net income from fundraising events

  total -$742,821 · excluded -$742,821

• 11a · Other revenue: CAFETERIA

  total $3,352,917 · excluded $3,352,917

• 11b · Other revenue: PARKING REVENUE

  total $717,598 · excluded $717,598

• 11c · Other revenue: OUTSIDE LAB SERVICES

  total $128,511 · unrelated business $128,511

• 11d · All other revenue

  total $1,279,730 · excluded $1,279,730

• 11e · Other revenue, total

  $5,478,756

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $758,555 · program services $758,555

• 5 · Compensation of officers, directors and key employees

  total $16,497,230 · management and general $16,497,230

• 7 · Other salaries and wages

  total $590,585,609 · program services $500,026,556 · management and general $90,559,053

• 8 · Pension plan contributions

  total $29,233,339 · program services $24,078,234 · management and general $5,155,105

• 9 · Other employee benefits

  total $82,127,407 · program services $65,910,880 · management and general $16,216,527

• 10 · Payroll taxes

  total $39,084,568 · program services $32,004,513 · management and general $7,080,055

• 11b · Fees: legal

  total $962,093 · management and general $962,093

• 11c · Fees: accounting

  total $642,090 · program services $2,500 · management and general $639,590

• 11d · Fees: lobbying

  total $170,414 · management and general $170,414

• 11f · Fees: investment management

  total $1,155,237 · management and general $1,155,237

• 11g · Fees: other

  total $81,045,644 · program services $36,001,968 · management and general $45,043,676

• 12 · Advertising and promotion

  total $10,533,032 · program services $203,592 · management and general $10,329,440

• 13 · Office expenses

  total $13,199,015 · program services $11,606,519 · management and general $1,592,496

• 14 · Information technology

  total $1,644,508 · management and general $1,644,508

• 16 · Occupancy

  total $8,054,286 · program services $789,051 · management and general $7,265,235

• 17 · Travel

  total $3,841,782 · program services $3,059,164 · management and general $782,618

• 20 · Interest

  total $8,467,272 · program services $2,860,354 · management and general $5,606,918

• 22 · Depreciation, depletion and amortization

  total $64,955,808 · program services $21,813,880 · management and general $43,141,928

• 23 · Insurance

  total $6,591,900 · program services $58,324 · management and general $6,533,576

• 24a · Other expenses: MEDICAL/SURGICAL SUPPLI

  total $180,185,447 · program services $180,185,447 · management and general $0

• 24b · Other expenses: PROVISION FOR BAD DEBT

  total $38,234,710 · program services $38,234,710

• 24c · Other expenses: PROVISION FOR FRANCHISE

  total $32,636,759 · management and general $32,636,759

• 24d · Other expenses: EQUIPMENT RENTAL/MAINTE

  total $25,496,809 · program services $18,405,627 · management and general $7,091,182

• 24e · All other expenses

  total $15,185,207 · program services $4,451,145 · management and general $10,734,062

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,632 · end of year $17,332

• 2 · Savings and temporary cash investments

  beginning of year $218,750,878 · end of year $201,230,752

• 4 · Accounts receivable

  beginning of year $169,576,332 · end of year $165,319,569

• 7 · Other notes and loans receivable

  beginning of year $45,521,438 · end of year $37,079,432

• 8 · Inventories for sale or use

  beginning of year $10,993,922 · end of year $13,076,659

• 9 · Prepaid expenses and deferred charges

  beginning of year $13,969,696 · end of year $19,247,109

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

  $1,422,328,923

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

  $885,775,005

• 10c · Land, buildings and equipment, net

  beginning of year $511,450,439 · end of year $536,553,918

• 11 · Investments: publicly traded securities

  beginning of year $641,163,622 · end of year $895,279,375

• 13 · Investments: program-related

  beginning of year $30,561,299 · end of year $56,325,030

• 15 · Other assets

  beginning of year $339,789,732 · end of year $288,209,309

• 17 · Accounts payable and accrued expenses

  beginning of year $186,021,060 · end of year $198,742,700

• 20 · Tax-exempt bond liabilities

  beginning of year $83,892,426 · end of year $167,567,426

• 23 · Secured mortgages and notes payable

  beginning of year $81,216,504 · end of year $32,045,251

• 24 · Unsecured notes and loans payable

  beginning of year $79,522,641 · end of year $62,379,610

• 25 · Other liabilities

  beginning of year $134,678,662 · end of year $132,315,236

• 27 · Net assets without donor restrictions

  beginning of year $1,307,787,533 · end of year $1,474,884,314

• 28 · Net assets with donor restrictions

  beginning of year $108,676,164 · end of year $144,403,948

The filer's explanations (Part III)

PART I, LINE 1A

THE FOLLOWING INDIVIDUALS OF THE CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON HAVE COUNTRY CLUB MEMBERSHIPS THAT ARE USED FOR BUSINESS PURPOSES WITH CURRENT AND PROSPECTIVE DONORS: CHRISTOPHER A. GESSNER - BOD/OFFICER - PRESIDENT AND CEO LISA AURILIO - CHIEF OPERATING OFFICER ROBERT MCGREGOR M.D. - CHIEF MEDICAL OFFICER SHAWN LYDEN - CHIEF STRATEGY OFFICER AN UPGRADE TO THE NEXT AVAILABLE CLASS, E.G., BUSINESS CLASS, MAY BE PERMITTED WHEN THE FLIGHT IS OUTSIDE THE CONTINENTAL UNITED STATES OR THE FLIGHT DURATION IS IN EXCESS OF FIVE HOURS; OR AN UPGRADE TO THE NEXT AVAILABLE CLASS MAY BE PERMITTED WHEN AN OVERNIGHT ACCOMMODATION CAN BE AVOIDED. AS PART OF THE RECRUITMENT PACKAGE FOR AN EXECUTIVE, HOTEL AND MOVING REIMBURSEMENT IS MADE AVAILABLE AND TAXED ACCORDINGLY.

PART I, LINE 4B

THE FOLLOWING INDIVIDUALS BECAME PARTICIPANTS IN SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS DURING 2018, WHEREBY THEY BECOME VESTED PER THE TERMS OF THEIR EMPLOYMENT AGREEMENT. CHMCA IS ACCRUING FOR THE BENEFIT THAT WILL OCCUR, THEREFORE THESE AMOUNTS ARE INCLUDED IN THEIR DEFERRED COMPENSATION. DISTRIBUTIONS WERE MADE IN 2023 IN THE FOLLOWING AMOUNTS: ROBERT MCGREGOR M.D. - $389,396 SHAWN LYDEN - $0 ANTHEA DANIELS - $0 CHRISTOPHER GESSNER - $0 MICHAEL BIGHAM - $0 LISA AURILIO - $0 CHMCA HAS A SUPPLEMENTAL NONQUALIFIED PLAN OPEN TO SELECTED EMPLOYEES WHEN WAGES EXCEED THE MAXIMUM THRESHOLD FOR THE QUALIFIED RETIREMENT PLANS. THE AMOUNTS ARE CALCULATED IN THE FOLLOWING YEAR OF EARNINGS AND EITHER PAID TO THE EMPLOYEE IF THEY ARE VESTED AS TAXABLE INCOME OR PUT INTO THE PLAN UNTIL VESTED AND THEN PAID.

PART I, LINE 7

CHMCA DOES HAVE CONTRACTS WITH CERTAIN PHYSICIANS THAT EARN BONUSES BASED ON WORK RELATIVE VALUE UNITS (WRVU'S). PHYSICIANS WORK RVU: THE RELATIVE LEVEL OF TIME, SKILL, TRAINING, AND INTENSITY TO PROVIDE A GIVEN SERVICE. EACH CURRENT PROCEDURAL TERMINOLOGY (CPT) CODE IS TARGETED FOR REVIEW AT LEAST EVERY FIVE YEARS TO DETERMINE THE WORK RVU FOR A PARTICULAR SERVICE. A CODE WITH A HIGHER RVU WORK TAKES MORE TIME, MORE INTENSITY OR SOME COMBINATION OF THE TWO. BONUSES ARE BASED ON PERFORMANCE AND OTHER METRICS BUT FINAL DECISIONS ARE DISCRETIONARY BY THE BOARD. THE CEO'S BONUS IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. CEO RECOMMENDS FOR APPROVAL THE EXECUTIVES BONUSES TO THE BOARD AND THEY APPROVE THEM. THE CEO APPROVES THE VICE PRESIDENTS BONUSES.

Related partnerships

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

• GAMUT QUALITY IMPROVEMENT COLLABORATIVE LLC

  RELATED · CONTRACT MANAGEMENT · OH · 60% owned · share of income $67,861 · share of assets $245,829

  Directly controlled by CHILDREN'S HOSPITAL MED CENTER OF AKRON