Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $61,764

• 1c · Fundraising events

  $71,368

• 1d · Related organizations

  $237,957

• 1e · Government grants (contributions)

  $17,277,850

• 1f · All other contributions, gifts and grants

  $17,488,210

• 1g · Noncash contributions included above

  $5,089,741

• 2a · Program service revenue: Hospital Revenues

  total $567,171,383 · related or exempt $566,793,455 · unrelated business $377,928

• 2b · Program service revenue: Physician Practice Rev

  total $90,203,540 · related or exempt $90,203,540

• 2c · Program service revenue: Long Term Care Revenue

  total $28,124,277 · related or exempt $28,124,277

• 2d · Program service revenue: Hospice and Homecare R

  total $12,911,580 · related or exempt $12,911,580

• 2e · Program service revenue: Behavioral Health and

  total $3,696,079 · related or exempt $3,696,079

• 3 · Investment income

  total $2,807,531 · excluded $2,807,531

• 6a · Gross rents

  real property $658,348

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $658,348

• 6d · Net rental income or loss

  total $658,348 · related or exempt $658,348

• 7a · Gross sales of assets other than inventory

  securities $60,725,518 · other assets $80,310

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

  securities $59,209,456 · other assets $241,930

• 7c · Gain or loss

  securities $1,516,062 · other assets -$161,620

• 7d · Net gain or loss

  total $1,354,442 · related or exempt -$161,620 · excluded $1,516,062

• 8a · Fundraising events: gross income

  $168,077

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

  $71,368

• 8b · Fundraising events: direct expenses

  $21,795

• 8c · Net income from fundraising events

  total $146,282 · excluded $146,282

• 11a · Other revenue: Joint Venture

  total $989,584 · related or exempt $989,584

• 11e · Other revenue, total

  $989,584

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,000 · program services $3,000

• 5 · Compensation of officers, directors and key employees

  total $1,404,747 · program services $951,276 · management and general $453,471

• 7 · Other salaries and wages

  total $326,541,730 · program services $267,587,616 · management and general $58,954,114

• 8 · Pension plan contributions

  total $10,143,054 · program services $8,305,637 · management and general $1,837,417

• 9 · Other employee benefits

  total $45,107,078 · program services $36,935,920 · management and general $8,171,158

• 10 · Payroll taxes

  total $22,074,394 · program services $18,075,612 · management and general $3,998,782

• 11a · Fees: management

  total $34,282,523 · management and general $33,461,404 · fundraising $821,119

• 11b · Fees: legal

  total $217,961 · management and general $217,961

• 11c · Fees: accounting

  total $8,000 · management and general $8,000

• 11f · Fees: investment management

  total $100,237 · management and general $100,237

• 11g · Fees: other

  total $59,815,466 · program services $47,858,934 · management and general $11,934,419 · fundraising $22,113

• 12 · Advertising and promotion

  total $965,824 · program services $869,881 · management and general $95,943

• 13 · Office expenses

  total $1,414,939 · program services $517,756 · management and general $895,608 · fundraising $1,575

• 14 · Information technology

  total $26,508,263 · program services $1,895,757 · management and general $24,612,506

• 16 · Occupancy

  total $18,660,738 · program services $15,251,304 · management and general $3,386,840 · fundraising $22,594

• 17 · Travel

  total $1,297,576 · program services $1,036,297 · management and general $261,279

• 19 · Conferences, conventions and meetings

  total $1,242,624 · program services $1,065,069 · management and general $177,555

• 20 · Interest

  total $8,217,279 · program services $8,217,279

• 22 · Depreciation, depletion and amortization

  total $24,466,084 · program services $18,769,766 · management and general $5,696,318

• 23 · Insurance

  total $838,455 · management and general $838,455

• 24a · Other expenses: Drugs and Solutions

  total $66,261,456 · program services $66,261,456

• 24b · Other expenses: Medical Supplies

  total $49,377,456 · program services $49,377,456

• 24c · Other expenses: State Tax on Revenue

  total $11,770,612 · program services $11,770,612

• 24d · Other expenses: Maintenance Service Con

  total $4,762,998 · management and general $4,762,998

• 24e · All other expenses

  total $17,518,657 · program services $10,093,407 · management and general $7,425,250

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,458,086 · end of year $18,486,954

• 2 · Savings and temporary cash investments

  beginning of year $2,593,157 · end of year $6,537,522

• 3 · Pledges and grants receivable

  beginning of year $544,721 · end of year $16,283,869

• 4 · Accounts receivable

  beginning of year $100,478,739 · end of year $102,620,547

• 8 · Inventories for sale or use

  beginning of year $10,097,437 · end of year $9,970,830

• 9 · Prepaid expenses and deferred charges

  beginning of year $11,794,128 · end of year $12,961,743

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

  $694,793,439

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

  $339,931,000

• 10c · Land, buildings and equipment, net

  beginning of year $356,241,204 · end of year $354,862,439

• 11 · Investments: publicly traded securities

  beginning of year $109,676,326 · end of year $116,202,118

• 12 · Investments: other securities

  beginning of year $25,029,659 · end of year $17,019,995

• 13 · Investments: program-related

  end of year $424,810

• 15 · Other assets

  beginning of year $28,822,531 · end of year $26,815,210

• 17 · Accounts payable and accrued expenses

  beginning of year $45,100,597 · end of year $63,509,160

• 19 · Deferred revenue

  beginning of year $387,097 · end of year $173,987

• 23 · Secured mortgages and notes payable

  beginning of year $278,160,218 · end of year $266,078,197

• 24 · Unsecured notes and loans payable

  beginning of year $503,455 · end of year $1,074,126

• 25 · Other liabilities

  beginning of year $56,089,966 · end of year $51,638,790

• 27 · Net assets without donor restrictions

  beginning of year $207,585,449 · end of year $196,578,869

• 28 · Net assets with donor restrictions

  beginning of year $74,909,206 · end of year $103,132,908

The filer's explanations (Part III)

Part I, Line 1a

Charles Hays $59,596 Treated as taxable compensation.

Part I, Line 3

The Board of Directors is responsible for determining the compensation package (base salary, performance incentive pay plan and other benefits and perquisites) for the Chief Executive Officer. They have an independent executive compensation consultant who advises the Board after completing an evaluation the compensation and benefits provided to its Chief Executive Officer - this includes. using comparability data, expert compensation studies and other means as well as their findings and opinion regarding the reasonableness of the maximum total remuneration that could be earned. Paid executives who hold voting privileges may not vote or participate in discussions regarding their compensation; however, they may answer questions that will help the Board in its deliberations. For other officer and key employee positions, the Chief Executive Officer is responsible for determining the base compensation for all his direct reports, while the Board of Directors is responsible for the variable compensation. An independent compensation consultant advises the CEO using comparability data, expert compensation studies and other means. This, together with the Chief Executive Officer's compensation, was last reviewed in April 2023.

Part I, Line 7

A portion of compensation is at risk and variable and is based on the quality of job performance.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Kennebec Risk LLC

  Captive Insurance Company · VT · income $4,858,381 · assets $17,681,283

  Directly controlled by MaineGeneral Medical Center