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Nonprofiteer
← LINCOLNHEALTH COVES EDGE

Form 990 for tax year 2024

Filed by LINCOLNHEALTH COVES EDGE.

Totals

Total revenue
$10,437,790
Total expenses
$15,913,561
Contributions and grants received
$8,321
Grants paid
$0
Program service revenue
$9,777,757
Investment income
$108,748
Other revenue
$542,964
Total assets, end of year
$7,774,477
Total liabilities, end of year
$25,680,746
Net assets or fund balances, end of year
-$17,906,269
Program services expenses (Part IX)
$13,975,830
Management and general expenses
$1,937,731
Fundraising expenses
$0
Program service expenses (Part III)
$13,975,830

Program services were 87.8% 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.

  • 1f · All other contributions, gifts and grants

    $8,321

  • 2a · Program service revenue: PATIENT SERVICE REV.

    total $6,872,672 · related or exempt $6,872,672

  • 2b · Program service revenue: RESIDENT SERVICE REV.

    total $2,905,085 · related or exempt $2,905,085

  • 3 · Investment income

    total $88,916 · excluded $88,916

  • 6a · Gross rents

    real property $21,366 · personal property $2,432

  • 6b · Less rental expenses

    real property $0 · personal property $2,432

  • 6c · Rental income or loss

    real property $21,366 · personal property $0

  • 6d · Net rental income or loss

    total $21,366 · unrelated business $21,366

  • 7a · Gross sales of assets other than inventory

    securities $1,070,474

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

    securities $1,050,642

  • 7c · Gain or loss

    securities $19,832

  • 7d · Net gain or loss

    total $19,832 · excluded $19,832

  • 11a · Other revenue: Contract Service

    total $419,936 · unrelated business $419,936

  • 11b · Other revenue: Admin & Support Servic

    total $61,941 · related or exempt $61,941

  • 11c · Other revenue: Management Fees

    total $39,410 · unrelated business $39,410

  • 11d · All other revenue

    total $311 · unrelated business $311

  • 11e · Other revenue, total

    $521,598

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $5,921,521 · program services $5,921,521

  • 8 · Pension plan contributions

    total $221,539 · program services $221,539

  • 9 · Other employee benefits

    total $1,049,738 · program services $1,049,738

  • 10 · Payroll taxes

    total $444,373 · program services $444,373

  • 11g · Fees: other

    total $2,050,283 · program services $2,050,283

  • 12 · Advertising and promotion

    total $4,462 · program services $4,462

  • 13 · Office expenses

    total $143,531 · program services $109,107 · management and general $34,424

  • 16 · Occupancy

    total $381,956 · program services $381,956

  • 17 · Travel

    total $15,266 · program services $15,266

  • 20 · Interest

    total $32,207 · program services $32,207

  • 22 · Depreciation, depletion and amortization

    total $401,282 · program services $401,282

  • 23 · Insurance

    total $43,084 · program services $16,479 · management and general $26,605

  • 24a · Other expenses: PURCHASED SERVICES

    total $2,549,623 · program services $2,549,623

  • 24b · Other expenses: INTEGRATED SERVICES

    total $1,931,755 · program services $55,053 · management and general $1,876,702

  • 24c · Other expenses: STATE NURSING HOME TAX

    total $433,683 · program services $433,683

  • 24d · Other expenses: MEDICAL SUPPLIES

    total $168,445 · program services $168,445

  • 24e · All other expenses

    total $120,813 · program services $120,813

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $350 · end of year $350

  • 2 · Savings and temporary cash investments

    beginning of year $201,222 · end of year $186,746

  • 4 · Accounts receivable

    beginning of year $780,984 · end of year $708,902

  • 8 · Inventories for sale or use

    beginning of year $68,522 · end of year $63,637

  • 9 · Prepaid expenses and deferred charges

    beginning of year $132,115 · end of year $130,447

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

    $20,816,611

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

    $17,590,559

  • 10c · Land, buildings and equipment, net

    beginning of year $2,927,640 · end of year $3,226,052

  • 11 · Investments: publicly traded securities

    beginning of year $2,441,780 · end of year $2,520,307

  • 12 · Investments: other securities

    beginning of year $117,026 · end of year $207,139

  • 15 · Other assets

    beginning of year $731,148 · end of year $730,897

  • 17 · Accounts payable and accrued expenses

    beginning of year $915,729 · end of year $660,873

  • 19 · Deferred revenue

    beginning of year $745,651 · end of year $743,219

  • 20 · Tax-exempt bond liabilities

    beginning of year $696,493 · end of year $467,346

  • 25 · Other liabilities

    beginning of year $8,026,090 · end of year $23,809,308

  • 27 · Net assets without donor restrictions

    beginning of year -$3,551,293 · end of year -$18,522,039

  • 28 · Net assets with donor restrictions

    beginning of year $568,117 · end of year $615,770

Mission and programs · 2024

Mission

See Schedule O

Activities or mission (Part I)

LincolnHealth Cove's Edge will uphold the trust placed in us by assuring: -the best and most compassionate skilled nursing, long term-care, assisted living and adult day care services from well trained professionals. -that the independence and dignity of our patients, residents, and clients will always be respected, and promoting open communication in all care decisions that, as a not-for-profit organization, we will be trustworthy stewards of our resources. -our active participation and support of the Mainehealth family.

  • Long Term Care - LincolnHealth Cove's Edge long term care program services include a 76 bed, dually licensed facility that provides both skilled and long term nursing care to its residents. For the year ending September 30, 2025, LincolnHealth Cove's Edge had 15,759 patient days. Of those days, 11% represented Medicare patients, and 65% MaineCare patients.

    Expenses $9,398,469 · Revenue $6,926,247

  • Residential Care - LincolnHealth Cove's Edge provides residential care at its Chase Point facility. Chase Point consists of 24 residential care apartments and 18 memory care beds. For the year ending September 30, 2025, Chase Point had 5,641 residential care patient days, and 4,877 memory care patient days. Of the memory care days, 48% represented MaineCare patients.

    Expenses $4,156,955 · Revenue $2,913,451

  • Schooner Cove Cooperative provides maintenance and other services forSchooner Cove, a congregate living facility located in Damariscotta,Maine.

    Expenses $420,406

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

Listed in Part VII

  • Kelly Elkins

    Chief Operating Officer, MH

    Total calculated
    $1,356,361
    From this org
    $0
    From related orgs
    $1,322,435
    Other
    $33,926
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $832,237 related
    Bonus
    $0 + $391,954 related
    Other
    $0 + $98,244 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $20,126 related
    Filer's total
    $0 + $1,356,361 related

  • Omar Hasan MD

    Chief Quality Officer, MH

    Total calculated
    $844,609
    From this org
    $0
    From related orgs
    $785,276
    Other
    $59,333
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $479,478 related
    Bonus
    $0 + $170,089 related
    Other
    $0 + $135,709 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $42,083 related
    Filer's total
    $0 + $844,609 related

  • Samira Hasan DO

    Physician, LH

    Total calculated
    $773,978
    From this org
    $0
    From related orgs
    $715,421
    Other
    $58,557
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $389,995 related
    Bonus
    $0 + $267,964 related
    Other
    $0 + $57,462 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $41,307 related
    Filer's total
    $0 + $773,978 related

  • Cynthia Wade

    President, LH

    Total calculated
    $560,185
    From this org
    $0
    From related orgs
    $500,699
    Other
    $59,486
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $318,690 related
    Bonus
    $0 + $98,698 related
    Other
    $0 + $83,311 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $42,236 related
    Filer's total
    $0 + $560,185 related

  • Timothy Fox MD

    Chief Medical Officer, LH

    Total calculated
    $488,504
    From this org
    $0
    From related orgs
    $429,923
    Other
    $58,581
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $369,520 related
    Bonus
    $0 + $50,922 related
    Other
    $0 + $9,481 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $41,331 related
    Filer's total
    $0 + $488,504 related

  • Andrew Russ MD

    Physician, LH

    Total calculated
    $445,152
    From this org
    $0
    From related orgs
    $424,718
    Other
    $20,434
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $306,899 related
    Bonus
    $0 + $52,740 related
    Other
    $0 + $65,079 related
    Deferred
    $0 + $17,556 related
    Nontaxable benefits
    $0 + $2,878 related
    Filer's total
    $0 + $445,152 related

  • Wayne Printy

    Chief Financial Officer

    Total calculated
    $421,404
    From this org
    $0
    From related orgs
    $358,182
    Other
    $63,222
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,820 related
    Bonus
    $0 + $49,359 related
    Other
    $0 + $52,003 related
    Deferred
    $0 + $27,600 related
    Nontaxable benefits
    $0 + $35,622 related
    Filer's total
    $0 + $421,404 related

  • Aquilino Alamo MD

    Physician, LH

    Total calculated
    $405,048
    From this org
    $0
    From related orgs
    $351,130
    Other
    $53,918
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,503 related
    Bonus
    $0 + $77,491 related
    Other
    $0 + $46,136 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $36,668 related
    Filer's total
    $0 + $405,048 related

  • Sean O'Donnell MD

    Physician, LH

    Total calculated
    $397,778
    From this org
    $0
    From related orgs
    $345,570
    Other
    $52,208
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,113 related
    Bonus
    $0 + $5,263 related
    Other
    $0 + $107,194 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $34,958 related
    Filer's total
    $0 + $397,778 related

  • Cheryl L Dobbelsteyn

    Senior Director

    Total calculated
    $171,921
    From this org
    $147,242
    From related orgs
    $0
    Other
    $24,679
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,592
    Bonus
    $0
    Other
    $1,650
    Deferred
    $7,568
    Nontaxable benefits
    $17,111
    Filer's total
    $171,921

  • Wanda Wilcox

    Executive Director

    Total calculated
    $169,633
    From this org
    $143,144
    From related orgs
    $0
    Other
    $26,489
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $139,420
    Bonus
    $0
    Other
    $3,724
    Deferred
    $7,339
    Nontaxable benefits
    $19,150
    Filer's total
    $169,633

  • Jessica Pinkham RN

    Director of Surgical Services

    Total calculated
    $158,481
    From this org
    $0
    From related orgs
    $122,691
    Other
    $35,790
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $121,350 related
    Bonus
    $0
    Other
    $0 + $1,341 related
    Deferred
    $0 + $6,747 related
    Nontaxable benefits
    $0 + $29,043 related
    Filer's total
    $0 + $158,481 related

  • Thelma A Hannan

    Director of Nursing

    Total calculated
    $154,919
    From this org
    $116,357
    From related orgs
    $0
    Other
    $38,562
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $110,246
    Bonus
    $4,775
    Other
    $1,336
    Deferred
    $6,169
    Nontaxable benefits
    $32,393
    Filer's total
    $154,919

  • Dawn F Simmons

    Registered Nurse II-Ambulatory Care

    Total calculated
    $142,925
    From this org
    $126,231
    From related orgs
    $0
    Other
    $16,694
    Hours/week
    50

  • Cynthia T Lindsley

    Manager of Clinical Nursing

    Total calculated
    $122,367
    From this org
    $116,160
    From related orgs
    $0
    Other
    $6,207
    Hours/week
    50

  • Russell Mack MD

    Physician, LH

    Total calculated
    $57,600
    From this org
    $0
    From related orgs
    $57,600
    Other
    $0
    Hours/week
    1 + 50 related

  • Bruce P Garren

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Marva Nesbit

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Jack T Fulmer MD

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Peter Wood

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Leslie Fossel

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Denise Soucy MD

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Holly Stover

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Louis Sell

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Wayne Moore

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Hal Moorefield

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Lydia Crafts

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Meagan G Hamblett

    Former Trustee

    Total calculated
    $0
    Hours/week
    1

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

  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 7
MaineHealth established a Performance Incentive Plan (the Plan) to encourage and reward Plan participants for achieving defined performance goals that are supportive of MaineHealth's mission, strategic initiatives, and operating objectives. The Plan is administered by the MaineHealth Compensation Committee of the Board of Trustees.

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

No itemized grants to organizations 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 corporations and trusts

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

  • PBH Management Company

    C · Management services · ME

  • Maine Medical Partners

    C · Healthcare · ME

  • Waldo County Healthcare Mgmt Co

    C · Management services · ME

  • Midcoast Health Management Corp

    C · Management services · ME

  • Mid Coast Medical Group

    C · Management services · ME

  • Thornton Oaks Development Corp

    C · Management services · ME

Provenance

Return type
form_990
Tax year
2024
Filed
11 June 2026
IRS schema version
2024v5.5
Source object
202602229349300705

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