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← PARKWEST MEDICAL CENTER

Form 990 for tax year 2024

Filed by PARKWEST MEDICAL CENTER.

Totals

Total revenue
$469,844,949
Total expenses
$468,875,356
Contributions and grants received
$1,778,104
Grants paid
$465,281
Program service revenue
$464,514,178
Investment income
$296,873
Other revenue
$3,255,794
Total assets, end of year
$289,892,165
Total liabilities, end of year
$41,439,064
Net assets or fund balances, end of year
$248,453,101
Program services expenses (Part IX)
$462,140,704
Management and general expenses
$6,734,652
Fundraising expenses
$0
Program service expenses (Part III)
$462,140,704

Program services were 98.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $1,035,113

  • 1e · Government grants (contributions)

    $727,991

  • 1f · All other contributions, gifts and grants

    $15,000

  • 1g · Noncash contributions included above

    $475

  • 2a · Program service revenue: Net Patient Services

    total $450,273,556 · related or exempt $450,273,556

  • 2b · Program service revenue: Pharmacy

    total $14,236,398 · related or exempt $427,327 · excluded $13,809,071

  • 2c · Program service revenue: Rental Income - Exempt Affiliate

    total $4,224 · related or exempt $4,224

  • 3 · Investment income

    total $256,809 · excluded $256,809

  • 6a · Gross rents

    real property $3,876,549

  • 6b · Less rental expenses

    real property $3,452,075

  • 6c · Rental income or loss

    real property $424,474

  • 6d · Net rental income or loss

    total $424,474 · unrelated business -$43,859 · excluded $468,333

  • 7a · Gross sales of assets other than inventory

    other assets $40,730

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

    other assets $666

  • 7c · Gain or loss

    other assets $40,064

  • 7d · Net gain or loss

    total $40,064 · excluded $40,064

  • 11a · Other revenue: Cafeteria

    total $2,233,979 · excluded $2,233,979

  • 11b · Other revenue: Gift Shop

    total $469,257 · excluded $469,257

  • 11c · Other revenue: Support Services

    total $101,626 · related or exempt $89,149 · excluded $12,477

  • 11d · All other revenue

    total $26,458 · excluded $26,458

  • 11e · Other revenue, total

    $2,831,320

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $46,115 · program services $46,115

  • 2 · Grants to domestic individuals

    total $419,166 · program services $419,166

  • 5 · Compensation of officers, directors and key employees

    total $937,730 · management and general $937,730

  • 7 · Other salaries and wages

    total $106,017,984 · program services $104,919,647 · management and general $1,098,337

  • 8 · Pension plan contributions

    total $3,656,738 · program services $3,612,927 · management and general $43,811

  • 9 · Other employee benefits

    total $12,146,396 · program services $11,488,542 · management and general $657,854

  • 10 · Payroll taxes

    total $8,302,423 · program services $8,117,458 · management and general $184,965

  • 11a · Fees: management

    total $42,033,637 · program services $41,106,517 · management and general $927,120

  • 11b · Fees: legal

    total $110,747 · management and general $110,747

  • 11g · Fees: other

    total $88,477,617 · program services $88,406,632 · management and general $70,985

  • 12 · Advertising and promotion

    total $31,483 · program services $30,376 · management and general $1,107

  • 13 · Office expenses

    total $2,558,521 · program services $2,169,820 · management and general $388,701

  • 16 · Occupancy

    total $8,584,929 · program services $8,139,678 · management and general $445,251

  • 17 · Travel

    total $143,134 · program services $133,924 · management and general $9,210

  • 19 · Conferences, conventions and meetings

    total $126,739 · program services $112,489 · management and general $14,250

  • 20 · Interest

    total $34,966 · program services $34,966

  • 22 · Depreciation, depletion and amortization

    total $20,127,976 · program services $19,084,943 · management and general $1,043,033

  • 23 · Insurance

    total $416,900 · program services $326,417 · management and general $90,483

  • 24a · Other expenses: Medical Supplies

    total $141,792,634 · program services $141,792,634

  • 24b · Other expenses: Bad Debt

    total $14,485,533 · program services $14,485,533

  • 24c · Other expenses: Minor Equipment

    total $10,599,131 · program services $10,467,857 · management and general $131,274

  • 24d · Other expenses: Malpractice Expense

    total $2,932,544 · program services $2,932,544

  • 24e · All other expenses

    total $4,892,313 · program services $4,312,519 · management and general $579,794

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$2,338,903 · end of year -$4,165,133

  • 2 · Savings and temporary cash investments

    beginning of year -$119,531 · end of year -$90,982

  • 4 · Accounts receivable

    beginning of year $51,000,204 · end of year $53,371,055

  • 8 · Inventories for sale or use

    beginning of year $6,786,257 · end of year $7,832,642

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,404,869 · end of year $1,310,198

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

    $596,560,176

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

    $378,447,596

  • 10c · Land, buildings and equipment, net

    beginning of year $226,320,349 · end of year $218,112,580

  • 15 · Other assets

    beginning of year $9,065,237 · end of year $13,521,805

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,555,193 · end of year $31,151,601

  • 25 · Other liabilities

    beginning of year $8,729,224 · end of year $10,287,463

  • 27 · Net assets without donor restrictions

    beginning of year $251,834,065 · end of year $248,453,101

Mission and programs · 2024

Mission

Parkwest Medical Center provides quality healthcare, in alignment with Covenant Health's mission to serve the community by improving the quality of life through better health, regardless of the patient's ability to pay.

Activities or mission (Part I)

Parkwest Medical Center operates a full-service acute care hospital located in west Knoxville, Tennessee, and a psychiatric hospital in neighboring Blount County, TN with a combined total of 456 beds. It is a member of the Covenant Health system.

  • Parkwest Medical Center ("Parkwest") admitted its first patient on December 10, 1973. It became a not-for-profit hospital in 1990 and became part of Covenant Health in 1996. Peninsula, a division of Parkwest Medical Center, ("Peninsula") is the behavioral services division of Parkwest and the region's largest provider of behavioral health services. Peninsula has a 119-bed hospital in Blount County providing mental health services for adolescents and adults. Peninsula also provides outpatient services in four counties. SERVICEWest Knoxville's largest medical center, Parkwest has an organizational culture focused on treating every patient and visitor with courtesy, compassion, and respect. It is best known for excellence in orthopedics, cardiology, surgical and behavioral health. Parkwest and Peninsula served 257,260 patients in 2024. Of these, 237,082 were outpatients and 20,178 were inpatients with an average length-of-stay of 4.54 days. PUTTING PATIENTS FIRSTIn 2024, Parkwest was recognized by U.S. News & World Report as #7 in its list of "Best Hospitals in Tennessee, and the #2 hospital in Knoxville metro area. Parkwest was rated as a "High-Performing" hospital by US News & World Report for COPD, colon cancer surgery, heart attack, heart bypass surgery, heart failure, hip replacement, knee replacement, prostate cancer surgery, and stroke care.BlueCross BlueShield gave the hospital a Blue Distinction Center+ designation for knee replacement and hip surgery, spine surgery, and maternity care, and a Blue Distinction Center designation for bariatric surgery. The Joint Commission has designated the hospital as an Advanced Primary Stroke Center, and Parkwest is a member of Covenant Health's stroke hospital network, which links Covenant Health's member hospitals in providing rapid diagnosis and treatment of stroke. Parkwest was recognized with a GoldPlus Stroke Quality Achievement Award by the American Heart Association/American Stroke Association. Parkwest has earned the GoldPlus Quality Award from the American Heart Association, recognizing consistent compliance with evidence-based quality measures for care of patients experiencing heart attacks, and a Gold award for non-STEMI quality measures.IMPROVING THE COMMUNITY'S QUALITY OF LIFE THROUGH BETTER HEALTHIn 2024 Parkwest provided over $219,000 worth of transportation, which includes payment to Priority Ambulance for patients to receive treatments, and taxi/transportation fares for patients who had been discharged and needed transportation home.In 2024 Parkwest participated in the Greater Knoxville Heart Walk, raising funds and awareness for heart disease. Parkwest also participates in local health fair screenings for area businesses and groups, providing carotid ultrasound screenings and physical therapy ergonomic education, as well as stroke education. In 2024 the employees at Parkwest also raised money for our internal employee chaplain's fund, which helps employees who are experiencing unusual or extraordinary financial needs.As a member of Covenant Health, Parkwest and Peninsula have adopted the "We Honor Veterans" program, recognizing and celebrating patients and employees in our facility who are veterans. When a patient is identified as a veteran they are recognized with a certificate and pinning ceremony.

    Expenses $462,140,704 · Grants $465,281 · Revenue $450,794,256

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mitchell Dickson MD

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Stephanie Flood

    Director

    Total calculated
    $964
    From this org
    $0
    From related orgs
    $964
    Other
    $0
    Hours/week
    0 + 1 related

  • James Gibson

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Edgar Gray

    Director

    Total calculated
    $844
    From this org
    $0
    From related orgs
    $844
    Other
    $0
    Hours/week
    0 + 1 related

  • Leslye Hartsell

    Director

    Total calculated
    $1,124
    From this org
    $0
    From related orgs
    $1,124
    Other
    $0
    Hours/week
    0 + 1 related

  • Donald Hickman

    Director

    Total calculated
    $675
    From this org
    $0
    From related orgs
    $675
    Other
    $0
    Hours/week
    0 + 1 related

  • Timothy Matthews

    Director

    Total calculated
    $657
    From this org
    $0
    From related orgs
    $657
    Other
    $0
    Hours/week
    0 + 1 related

  • Janice McKinley

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Cletus McMahon MD

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Dave Miller

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Bill Myers

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Alvin Nance

    Director

    Total calculated
    $648
    From this org
    $0
    From related orgs
    $648
    Other
    $0
    Hours/week
    0 + 1 related

  • Linda Ogle

    Director

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • King Purnell

    Director/Chair

    Total calculated
    $935
    From this org
    $0
    From related orgs
    $935
    Other
    $0
    Hours/week
    0 + 1 related

  • Jorge Sanabria

    Director

    Total calculated
    $807
    From this org
    $0
    From related orgs
    $807
    Other
    $0
    Hours/week
    0 + 1 related

  • William Seale

    Director

    Total calculated
    $1,060
    From this org
    $0
    From related orgs
    $1,060
    Other
    $0
    Hours/week
    0 + 1 related

  • Cosby Stone

    Director

    Total calculated
    $1,113
    From this org
    $0
    From related orgs
    $1,113
    Other
    $0
    Hours/week
    0 + 1 related

  • Joe Sutter

    Director

    Total calculated
    $881
    From this org
    $0
    From related orgs
    $881
    Other
    $0
    Hours/week
    0 + 1 related

  • James Tramontana MD

    Director

    Total calculated
    $1,086
    From this org
    $0
    From related orgs
    $1,086
    Other
    $0
    Hours/week
    0 + 1 related

  • James D VanderSteeg

    President & CEO

    Total calculated
    $3,242,830
    From this org
    $0
    From related orgs
    $2,880,556
    Other
    $362,274
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,578,849 related
    Bonus
    $0 + $1,078,259 related
    Other
    $0 + $223,448 related
    Deferred
    $0 + $335,103 related
    Nontaxable benefits
    $0 + $27,171 related
    Filer's total
    $0 + $3,242,830 related

  • Joseph C Dolan

    EVP/CFO

    Total calculated
    $967,301
    From this org
    $0
    From related orgs
    $861,693
    Other
    $105,608
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $697,828 related
    Bonus
    $0 + $138,667 related
    Other
    $0 + $25,198 related
    Deferred
    $0 + $72,802 related
    Nontaxable benefits
    $0 + $32,806 related
    Filer's total
    $0 + $967,301 related

  • Devan C Johnson

    President & CAO

    Total calculated
    $612,541
    From this org
    $0
    From related orgs
    $562,166
    Other
    $50,375
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $411,094 related
    Bonus
    $0 + $95,000 related
    Other
    $0 + $56,072 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $37,175 related
    Filer's total
    $0 + $612,541 related

  • M Scott Hamilton

    VP - Financial Services

    Total calculated
    $296,421
    From this org
    $251,190
    From related orgs
    $0
    Other
    $45,231
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $202,796
    Bonus
    $32,000
    Other
    $16,394
    Deferred
    $9,794
    Nontaxable benefits
    $35,437
    Filer's total
    $296,421

  • Jacquelyn A Alt

    VP - Chief Nursing Officer

    Total calculated
    $302,880
    From this org
    $214,134
    From related orgs
    $55,370
    Other
    $33,376
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $163,910 + $29,820 related
    Bonus
    $32,500
    Other
    $17,724 + $25,550 related
    Deferred
    $5,193 + $5,193 related
    Nontaxable benefits
    $19,262 + $3,728 related
    Filer's total
    $238,589 + $64,291 related

  • Elizabeth Clary

    VP - Behavioral Health

    Total calculated
    $245,021
    From this org
    $215,485
    From related orgs
    $0
    Other
    $29,536
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,331
    Bonus
    $24,000
    Other
    $47,154
    Deferred
    $8,615
    Nontaxable benefits
    $20,921
    Filer's total
    $245,021

  • Colin McRae

    VP - Support Services

    Total calculated
    $157,699
    From this org
    $156,987
    From related orgs
    $0
    Other
    $712
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,154
    Bonus
    $10,000
    Other
    $833
    Deferred
    $0
    Nontaxable benefits
    $712
    Filer's total
    $157,699

  • Thomas P Jensen MD

    Physician - Behavioral

    Total calculated
    $438,097
    From this org
    $386,561
    From related orgs
    $0
    Other
    $51,536
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $358,125
    Bonus
    $27,375
    Other
    $1,061
    Deferred
    $19,800
    Nontaxable benefits
    $31,736
    Filer's total
    $438,097

  • Rajendra T Raman MD

    Physician - Behavioral

    Total calculated
    $423,370
    From this org
    $370,445
    From related orgs
    $0
    Other
    $52,925
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $354,693
    Bonus
    $11,000
    Other
    $4,752
    Deferred
    $19,800
    Nontaxable benefits
    $33,125
    Filer's total
    $423,370

  • Surendra K Sharma MD

    Physician - Behavioral

    Total calculated
    $414,493
    From this org
    $359,753
    From related orgs
    $0
    Other
    $54,740
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $348,001
    Bonus
    $7,000
    Other
    $4,752
    Deferred
    $19,800
    Nontaxable benefits
    $34,940
    Filer's total
    $414,493

  • John G Kupfner MD

    Physician - Behavioral

    Total calculated
    $409,386
    From this org
    $358,049
    From related orgs
    $0
    Other
    $51,337
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $356,804
    Bonus
    $0
    Other
    $1,245
    Deferred
    $19,800
    Nontaxable benefits
    $31,537
    Filer's total
    $409,386

  • Shyam P Vuyyuru MD

    Physician - Behavioral

    Total calculated
    $388,651
    From this org
    $344,735
    From related orgs
    $0
    Other
    $43,916
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $332,983
    Bonus
    $7,000
    Other
    $4,752
    Deferred
    $19,800
    Nontaxable benefits
    $24,116
    Filer's total
    $388,651

  • Michael R Belbeck Jr

    Fmr Interim Pres & CAO-PWMC/EVP-Hosp Ops

    Total calculated
    $1,089,298
    From this org
    $0
    From related orgs
    $976,075
    Other
    $113,223
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $611,315 related
    Bonus
    $0 + $252,000 related
    Other
    $0 + $112,760 related
    Deferred
    $0 + $77,618 related
    Nontaxable benefits
    $0 + $35,605 related
    Filer's total
    $0 + $1,089,298 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

  • 1a · Tax indemnification and gross-up payments
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
Tax gross-up payments related to deferred compensation and reimbursement of fees for personal services for legal and financial planning are provided to certain executives and managers. Amounts are included in taxable compensation.
Part I, Line 3
Covenant Health, the parent company of Parkwest Medical Center, used the following methods in establishing the compensation of President/CEO, James D. VanderSteeg: compensation committee, independent compensation consultant, written employment contract, compensation survey or study, and approval by the board or compensation committee. Additional detail is provided in response to Form 990, Part VI, Section B, Lines 15a and 15b within Schedule O.
Part I, Line 4b
Covenant Health maintains a nonqualified deferred compensation ("NQDC") plan intended to support retention of President and CEO, James D. VanderSteeg, EVP and CFO, Joseph C. Dolan, and EVP of Hospital Operations, Michael R. Belbeck. Employer contributions of $321,903 for James D. VanderSteeg, $72,802 for Joseph C. Dolan, and $64,418 for Michael R. Belbeck are reported as deferred compensation on Schedule J, Part II, Column C. Contributions along with 2024 earnings of $114,551 for James D. VanderSteeg, $4,468 for Joseph C. Dolan, and $8,912 for Michael R. Belbeck are subject to a substantial risk of forfeiture. Amounts are combined with other compensation and considered for reasonableness. Compensation procedures are discussed in detail in Schedule O (Form 990, Part VI, Section B, Line 15a). Please note that the amounts included in Part II, Column C as contributions to the NQDC plan for James D. VanderSteeg and other executive leaders are deferred but NOT received during the filing year. We report compensation in both the year earned and the year paid, as required by IRS guidelines; however, wages appear overstated due to dual reporting of compensation earned in one year and distributed in a subsequent year.

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

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.

Related partnerships

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

  • Covenant-AmSurg ASC Ventures LLC

    Management company · TN

  • Covenant-KEC ASC Ventures LLC

    Management company · TN

  • TEC North LLC

    Physician services · TN

  • The Endoscopy Center of Knoxville LLC

    Physician services · TN

  • Boulevard ENT-Surgery Center

    Surgical services · TN

  • CHUC LLC

    Physician services · TN

  • Surgery Center of Oak Ridge LLC

    Surgical services · TN

  • D1 Blount LLC

    Fitness center · TN

Related corporations and trusts

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

  • Fortress Corporation

    C · Management company · TN

  • Covenant Medical Group Inc

    C · Physician practice management · TN · controlled entity

  • Knoxville Heart Group

    C · Cardiology medical practice · TN

  • East TN Cardiovascular Surgery Group Inc

    C · Cardiovascular surgical practice · TN

  • TenHats LLC

    C · Data storage · TN

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.2
Source object
202503159349303330

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