Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Patient services

  total $5,150,838 · related or exempt $5,150,838

• 2b · Program service revenue: Medicinal and other

  total $548,889 · related or exempt $548,889

• 3 · Investment income

  total $11 · excluded $11

• 11a · Other revenue: Partnership income

  total $4,946,305 · related or exempt $4,946,305

• 11e · Other revenue, total

  $4,946,305

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $75,000 · management and general $75,000

• 11g · Fees: other

  total $2,780,143 · program services $2,193,716 · management and general $586,427

• 13 · Office expenses

  total $94,779 · program services $80,620 · management and general $14,159

• 14 · Information technology

  total $3,643 · program services $3,099 · management and general $544

• 16 · Occupancy

  total $1,130,859 · program services $961,917 · management and general $168,942

• 17 · Travel

  total $196,197 · program services $166,887 · management and general $29,310

• 19 · Conferences, conventions and meetings

  total $1,657 · program services $1,409 · management and general $248

• 22 · Depreciation, depletion and amortization

  total $929,155 · program services $623,366 · management and general $305,789

• 23 · Insurance

  total $53,676 · program services $45,657 · management and general $8,019

• 24a · Other expenses: Medical supplies

  total $487,943 · program services $415,048 · management and general $72,895

• 24b · Other expenses: Provision for bad debts

  total $27,295 · program services $27,295

• 24c · Other expenses: Income tax provision

  total $22,250 · management and general $22,250

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $238,196 · end of year $993,417

• 4 · Accounts receivable

  beginning of year $643,961 · end of year $535,472

• 9 · Prepaid expenses and deferred charges

  beginning of year $150,382 · end of year $97,744

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

  $3,118,086

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

  $3,007,438

• 10c · Land, buildings and equipment, net

  beginning of year $171,671 · end of year $110,648

• 13 · Investments: program-related

  beginning of year $9,779,493 · end of year $9,137,268

• 15 · Other assets

  beginning of year $6,003 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $173,451 · end of year $259,400

• 25 · Other liabilities

  beginning of year $96,642 · end of year $98,921

• 27 · Net assets without donor restrictions

  beginning of year $10,719,613 · end of year $10,516,228

The filer's explanations (Part III)

Part I, Line 3

The compensation for the Organization's CEO was established by a related organization, Concord Hospital. That organization established the CEO's compensation by using a compensation committee, independent compensation consultant, and a compensation study. The compensation was also approved by the Hospital's compensation committee.

Part I, Line 4b

Capital Region Health Ventures Corp. is a related organization to Concord Hospital. Robert P. Steigmeyer, President & CEO, participated in a 457(f) plan with Concord Hospital, Inc. during the fiscal year covered by this tax return. Under the terms of the plan, amounts deferred and contributed to the plan are subject to a three-year vesting period. After satisfying this vesting period, 457(f) deferred amounts are to be included in Mr. Steigmeyer's taxable W-2 wages. The calendar year ending within the Hospital's current reporting period of September 30, 2024 (tax year 2023) includes amounts previously set aside as deferred under Mr. Steigmeyer's 457(f) plan more than three years ago, and have therefore become vested. Accordingly, Mr. Steigmeyer is now recognizing in his W-2 taxable wages vested 457(f) plan deferrals. For the period covered by this tax return, included within Mr. Steigmeyer's 2023 Form W-2 taxable wages are $187,779 of vested 457(f) deferrals, which represent amounts previously reported on Schedule J, Part II, Column C, as deferred compensation for the fiscal year ending September 30, 2020. In accordance with IRS instructions, this vested and taxable amount has been included in Schedule J, Part II, Column B(iii) and Column F. Beginning with the September 30, 2015 tax year, there have been contributions to Mr. Steigmeyer's 457(f) plan. Each contribution, plus earnings, will be reported in Mr. Steigmeyer's W-2 after a three-year vesting period. For the fiscal years ended September 30, 2022, 2023, and 2024, Mr. Steigmeyer received total plan contributions (including interest and investment credits) of $221,218, $231,021, and $247,552 respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amount included in Mr. Steigmeyer's deferred compensation amounts in this Schedule J, Part II, Column C, includes the $184,993 contribution to his 457(f) plan, plus $46,088 of earnings. During the year ending September 30, 2021, the Hospital established a Supplemental Executive Retirement Plan (SERP) for the Senior Vice Presidents of Concord Hospital. Under the terms of this SERP, the Hospital credits Senior Executives' accounts at the end of each fiscal year, and the credit shall vest and become payable on the third anniversary of the date such amounts are credited to the account, provided the Senior Executives remain continuously employed through the applicable vesting date. The three-year vesting period SERP amount will be included in taxable W-2 wages upon vesting and payment. For the fiscal years ended September 30, 2022, 2023, and 2024, total contributions to the SERP, including interest and investment earnings credits, for Scott Sloane were $43,139, $48,021, and $76,659 respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amounts included in Mr. Sloane's deferred compensation on this Schedule J, Part II, Column C, including contributions to his 457(f) plan and earnings, are as follows: contributions, $42,732; interest credit, $5,290. As none of the SERP contributions have yet satisfied the three-year vesting conditions as of the period covered by this tax return, none of the SERP contributions have yet been included in Mr. Sloane's W-2 wages.

Disregarded entities

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

• Concord Ambulatory Surgery Center LLC

  Medical Services · NH · income $408,197 · assets $107,134

  Directly controlled by Capital Region Health Ventures Corp

Related partnerships

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

• Concord Imaging Center LLC

  Related · Provide radiology services to community · NH · 50% owned · share of income $559,825 · share of assets $285,203

• Capital Orthopedic Surgery Center

  Related · Provide medical care to community · NH · 42% owned · share of income $4,996,943 · share of assets $1,827,151 · general or managing partner

  Directly controlled by Capital Region Health Ventures Corp

• Concord Endoscopy Center LLC

  Related · Provide medical care to community · NH · 70% owned · share of income $374,002 · general or managing partner

  Directly controlled by Capital Region Health Ventures Corp

• OSC Condo LLC

  Rental Property · NH

Related corporations and trusts

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

• Capital Region Health Services Corp

  C · Medical services · NH

• Capital Region Primary Care Corp

  C · Inactive · NH

• Lakes Region Medical Office Building

  C · Rental properties and condominiums · NH

• Hillside Medical Park Condo Association

  C · Rental properties and condominiums · NH

• CH Memorial West Condominium Association

  C · Rental properties and condominiums · NH