Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $213

• 1e · Government grants (contributions)

  $284,406

• 1f · All other contributions, gifts and grants

  $253,796

• 2a · Program service revenue: CRITICAL ACCESS HOSPITAL

  total $79,665,410 · related or exempt $79,665,410

• 2b · Program service revenue: 340B REVENUE

  total $2,320,037 · related or exempt $2,320,037

• 2c · Program service revenue: MEANINGFUL USE INCOME

  total $49,784 · related or exempt $49,784

• 3 · Investment income

  total $812,994 · excluded $812,994

• 6a · Gross rents

  real property $159,915

• 6b · Less rental expenses

  real property $351,687

• 6c · Rental income or loss

  real property -$191,772

• 6d · Net rental income or loss

  total -$191,772 · unrelated business -$219,951 · excluded $28,179

• 7a · Gross sales of assets other than inventory

  securities $2,050,762

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

  securities $2,184,689

• 7c · Gain or loss

  securities -$133,927

• 7d · Net gain or loss

  total -$133,927 · excluded -$133,927

• 8a · Fundraising events: gross income

  $20,017

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

  $213

• 8b · Fundraising events: direct expenses

  $7,816

• 8c · Net income from fundraising events

  total $12,201 · excluded $12,201

• 11d · All other revenue

  total $2,945,734 · related or exempt $2,945,734

• 11e · Other revenue, total

  $2,945,734

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $923,285 · management and general $923,285

• 7 · Other salaries and wages

  total $28,282,929 · program services $24,898,072 · management and general $3,384,857

• 8 · Pension plan contributions

  total $1,151,996 · program services $1,008,952 · management and general $143,044

• 9 · Other employee benefits

  total $3,756,137 · program services $2,970,929 · management and general $785,208

• 10 · Payroll taxes

  total $1,970,577 · program services $1,699,444 · management and general $271,133

• 11b · Fees: legal

  total $137,862 · management and general $137,862

• 11c · Fees: accounting

  total $160,462 · management and general $160,462

• 11f · Fees: investment management

  total $25,043 · management and general $25,043

• 11g · Fees: other

  total $6,545,574 · program services $5,076,550 · management and general $1,469,024

• 13 · Office expenses

  total $8,939,831 · program services $8,433,901 · management and general $505,930

• 14 · Information technology

  total $13,490 · management and general $13,490

• 16 · Occupancy

  total $832,976 · program services $244,054 · management and general $588,922

• 17 · Travel

  total $296,860 · program services $221,921 · management and general $74,939

• 19 · Conferences, conventions and meetings

  total $58,985 · program services $58,115 · management and general $870

• 20 · Interest

  total $370,776 · program services $370,776

• 22 · Depreciation, depletion and amortization

  total $3,306,742 · program services $2,794,209 · management and general $512,533

• 23 · Insurance

  total $634,667 · program services $580,002 · management and general $54,665

• 24a · Other expenses: SHARED SERVICE

  total $3,926,343 · management and general $3,926,343

• 24b · Other expenses: BAD DEBT EXPENSE

  total $3,686,669 · program services $3,686,669

• 24c · Other expenses: PROVIDER TAX

  total $282,151 · program services $282,151

• 24e · All other expenses

  total $1,163,380 · program services $435,801 · management and general $727,579

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,759,122 · end of year $4,551,099

• 2 · Savings and temporary cash investments

  beginning of year $7,233,096 · end of year $8,557,788

• 4 · Accounts receivable

  beginning of year $10,958,047 · end of year $9,897,747

• 8 · Inventories for sale or use

  beginning of year $952,295 · end of year $957,434

• 9 · Prepaid expenses and deferred charges

  beginning of year $925,010 · end of year $1,934,848

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

  $62,438,085

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

  $32,079,453

• 10c · Land, buildings and equipment, net

  beginning of year $30,295,945 · end of year $30,358,632

• 11 · Investments: publicly traded securities

  beginning of year $25,436,001 · end of year $51,647,450

• 15 · Other assets

  beginning of year $1,312,176 · end of year $537,997

• 17 · Accounts payable and accrued expenses

  beginning of year $5,394,247 · end of year $6,563,051

• 19 · Deferred revenue

  beginning of year $31,343 · end of year $30,941

• 23 · Secured mortgages and notes payable

  beginning of year $12,412,204 · end of year $11,555,440

• 25 · Other liabilities

  beginning of year $9,490,110 · end of year $8,416,841

• 27 · Net assets without donor restrictions

  beginning of year $54,363,351 · end of year $80,702,775

• 28 · Net assets with donor restrictions

  beginning of year $1,180,437 · end of year $1,173,947

The filer's explanations (Part III)

PART I, LINE 1B

(1A) PERSONAL SERVICE COMPENSATION CERTAIN ELIZABETHTOWN COMMUNITY HOSPITAL OFFICERS, TRUSTEES, KEY EMPLOYEES, AND HIGHLY COMPENSATED EMPLOYEES RECEIVED COMPENSATION OF $1,400 TO COVER TAX PREPARATION AND FINANCIAL ADVISORY SERVICES. WHILE THERE IS NO ORGANIZATION-WIDE WRITTEN POLICY REGARDING SUCH PAYMENTS, THE AMOUNT IS INCLUDED IN EACH INDIVIDUAL'S EMPLOYMENT CONTRACT, WHICH IS SUBJECT TO ANNUAL REVIEW (AS DISCUSSED IN SCHEDULE O). PERSONAL SERVICE COMPENSATION IS INCLUDED IN EACH INDIVIDUAL'S FORM W-2 AS TAXABLE INCOME. NO REIMBURSEMENT IS MADE UNDER AN ACCOUNTABLE PLAN AND THE COMPENSATION IS OFFERED ON A TAXABLE BASIS. THEREFORE, SUBSTANTIATION OF EXPENSE IS NOT REQUIRED.

PART I, LINE 3

ELIZABETHTOWN COMMUNITY HOSPITAL RELIED ON THE UNIVERSITY OF VERMONT HEALTH NETWORK ("UVM HEALTH NETWORK"), THE PARENT ORGANIZATION, TO ESTABLISH SENIOR EXECUTIVE COMPENSATION. UVM HEALTH NETWORK UTILIZED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

PART I, LINE 4B

THE UNIVERSITY OF VERMONT HEALTH NETWORK, BY AND THROUGH ITS AFFILIATED SUBSIDIARIES, MAINTAINS A SUPPLEMENTAL RETIREMENT BENEFIT PLAN (SRP) UNDER CONTRACTUAL ARRANGEMENTS WITH SEVERAL PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. PURSUANT TO THE TERMS OF THE SRP, ANNUAL CREDITS WERE MADE EQUAL TO A FIXED PERCENTAGE OF BASE SALARY. THE FOLLOWING PERSONS PARTICIPATED IN THE SRP IN CALENDAR YEAR 2023, AND THEIR RESPECTIVE FIXED PERCENTAGE IS DESIGNATED IN PARENTHESES: BOB ORTMYER (6.42%) DEFERRED AMOUNTS VEST ON THE EARLIER OF: (I) JANUARY 1 OF THE THIRD PLAN YEAR AFTER THE PLAN YEAR FOR WHICH THE ACCOUNT WAS CREATED; OR (II) THE PARTICIPANT'S 65TH BIRTHDAY. FOR THE PLANS NOTED ABOVE, AMOUNTS DEFERRED DURING CALENDAR YEAR 2023 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AMOUNTS DEFERRED REMAIN SUBJECT TO FOREFITURE IF CERTAIN CONDITIONS ARE NOT MET.

PART I, LINE 7

ELIZABETHTOWN COMMUNITY HOSPITAL PAID AWARDS TO CERTAIN MEMBERS OF UPPER MANAGEMENT (DIRECTORS, VICE PRESIDENTS, PHYSICIAN CHAIRS AND SENIOR EXECUTIVES) THROUGH ITS ANNUAL VARIABLE PAY PLAN AS THE PLAN'S PERFORMANCE MEASURES WERE MET. THE MEASURES WERE REVIWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THESE MEASURES INCLUDED FINANCIAL, POPULATION HEALTH & QUALITY, AND OPERATIONAL RELATED METRICS.

PART I, LINE 8

SALARIES AND OTHER FIXED AMOUNTS PAYABLE TO EXECUTIVES SUCH AS OFFICERS AND CERTAIN KEY EMPLOYEES ARE SET BY CONTRACTS THAT ARE NEGOTIATED AND ENTERED INTO PRIOR TO THE COMMENCEMENT OF EACH EXECUTIVES' EMPLOYMENT. THE TERMS OF SUCH CONTRACTS ARE APPROVED IN ADVANCE BY THE APPROPRIATE COMPENSATION COMMITTEE OR OTHER BOARD-AUTHORIZED BODY, WHICH OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING SUCH OFFER, AND CONCURRENTLY DOCUMENTS ITS BASIS FOR DETERMINATION.

Related corporations and trusts

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

• UVMHN VENTURES INC

  C · HOLDING COMPANY · VT

  Directly controlled by UVMHN

• UNIV OF VT MED HEALTH NETWORK CREDENTIALING & ENROLLMENT

  C · ADMIN SVC · VT

  Directly controlled by UVMHN VENTURES

• CHARITABLE REMAINDER TRUST (6)

  T · SUPPORT · VT

  Directly controlled by UVMMCCVMC

• PERPETUAL TRUST (10)

  T · SUPPORT · VT

  Directly controlled by UVMMC

• CHARITABLE IRREVOCABLE TRUST (8)

  T · SUPPORT · VT

  Directly controlled by UVMMCCVMC

• CHAMPLAIN VALLEY HEALTH NETWORK

  C · ADMIN SVC · NY

• MEDIQUEST INC

  C · MED OFFICE LEASE · NY