Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $224,567

• 1e · Government grants (contributions)

  $1,865,387

• 1f · All other contributions, gifts and grants

  $96,895

• 2a · Program service revenue: Patient Service Revenue

  total $267,478,872 · related or exempt $267,478,872

• 2b · Program service revenue: Miscellaneous Revenue

  total $17,353,096 · related or exempt $17,020,056 · excluded $333,040

• 2c · Program service revenue: Contractual/Char. Adj.

  total -$175,365,671 · related or exempt -$175,365,671

• 3 · Investment income

  total $549,806 · excluded $549,806

• 6a · Gross rents

  real property $218,787

• 6b · Less rental expenses

  real property $362,164

• 6c · Rental income or loss

  real property -$143,377

• 6d · Net rental income or loss

  total -$143,377 · excluded -$143,377

• 7a · Gross sales of assets other than inventory

  securities $5,383,487

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

  securities $5,844,428

• 7c · Gain or loss

  securities -$460,941

• 7d · Net gain or loss

  total -$460,941 · excluded -$460,941

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $18,950 · program services $18,950

• 5 · Compensation of officers, directors and key employees

  total $1,767,459 · program services $1,767,459

• 7 · Other salaries and wages

  total $46,562,234 · program services $40,519,560 · management and general $6,042,674

• 8 · Pension plan contributions

  total $1,929,511 · program services $1,680,456 · management and general $249,055

• 9 · Other employee benefits

  total $7,345,779 · program services $6,413,843 · management and general $931,936

• 10 · Payroll taxes

  total $3,287,442 · program services $2,875,197 · management and general $412,245

• 11a · Fees: management

  total $1,050,739 · management and general $1,050,739

• 11b · Fees: legal

  total $141,252 · management and general $141,252

• 11c · Fees: accounting

  total $300,250 · management and general $300,250

• 11f · Fees: investment management

  total $75,351 · management and general $75,351

• 11g · Fees: other

  total $17,992,617 · program services $13,473,481 · management and general $4,519,136

• 12 · Advertising and promotion

  total $113,636 · program services $99,510 · management and general $14,126

• 13 · Office expenses

  total $4,797,884 · program services $4,201,459 · management and general $596,425

• 16 · Occupancy

  total $2,461,098 · program services $2,389,718 · management and general $71,380

• 20 · Interest

  total $165,295 · program services $94,410 · management and general $70,885

• 22 · Depreciation, depletion and amortization

  total $4,317,094 · program services $3,039,677 · management and general $1,277,417

• 23 · Insurance

  total $577,196 · program services $505,445 · management and general $71,751

• 24a · Other expenses: Drugs

  total $6,521,760 · program services $6,521,760

• 24b · Other expenses: Health Care Improvement

  total $5,758,093 · program services $5,758,093

• 24c · Other expenses: Medical Supplies

  total $4,582,968 · program services $4,582,968

• 24d · Other expenses: Other Expenses

  total $3,409,161 · program services $2,308,765 · management and general $1,100,396

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $43,204 · end of year $32,090

• 2 · Savings and temporary cash investments

  beginning of year $9,740,241 · end of year $5,835,428

• 4 · Accounts receivable

  beginning of year $16,474,251 · end of year $22,319,002

• 8 · Inventories for sale or use

  beginning of year $2,525,087 · end of year $2,740,721

• 9 · Prepaid expenses and deferred charges

  beginning of year $569,532 · end of year $636,531

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

  $108,036,176

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

  $63,755,976

• 10c · Land, buildings and equipment, net

  beginning of year $43,013,263 · end of year $44,280,200

• 11 · Investments: publicly traded securities

  beginning of year $25,799,221 · end of year $25,419,310

• 12 · Investments: other securities

  beginning of year $807,996 · end of year $872,901

• 14 · Intangible assets

  beginning of year $213,581 · end of year $687,307

• 15 · Other assets

  beginning of year $870,422 · end of year $1,062,535

• 17 · Accounts payable and accrued expenses

  beginning of year $14,674,139 · end of year $15,563,052

• 19 · Deferred revenue

  beginning of year $15,340 · end of year $101,192

• 20 · Tax-exempt bond liabilities

  beginning of year $14,544,636 · end of year $15,730,562

• 23 · Secured mortgages and notes payable

  beginning of year $374,792 · end of year $307,364

• 25 · Other liabilities

  beginning of year $3,745,760 · end of year $3,256,786

• 27 · Net assets without donor restrictions

  beginning of year $65,844,321 · end of year $68,000,015

• 28 · Net assets with donor restrictions

  beginning of year $857,810 · end of year $927,054

The filer's explanations (Part III)

Part I, Line 3

Southern Vermont Health Service Corp., a related organization, uses the following methods to establish compensation for the President/CEO of the filing organization: - Compensation committee - Independent compensation consultant - Written employment contract - Compensation survey or study - Approval by the board or compensation committee

Part I, Line 6

Bonuses paid in calendar year 2022 are mostly contractual however the Hospital's net earnings are a minor consideration in the senior leadership bonus amounts.

Part I, Line 7

Bonus payments made to Medical Staff include both qualitative bonuses based on attendance at medical staff meetings and other quality measures and quantitative bonuses based in part on worked Relative Value Units (RVUs) performed in excess of baseline expectations.

Related partnerships

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

• Healthworks Act LLC

  Related · Health Support Services · VT · 25% owned · share of income $1,252 · share of assets $38,533 · general or managing partner