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Nonprofiteer
← SHORE MEMORIAL HEALTH SYSTEMS INC

Form 990 for tax year 2024

Filed by SHORE MEMORIAL HEALTH SYSTEMS INC.

Totals

Total revenue
-$302,783
Total expenses
$262,565
Contributions and grants received
$0
Grants paid
$100,000
Program service revenue
-$331,925
Investment income
$0
Other revenue
$29,142
Total assets, end of year
$155,874
Total liabilities, end of year
$6,933,908
Net assets or fund balances, end of year
-$6,778,034
Program services expenses (Part IX)
$100,000
Management and general expenses
$162,565
Fundraising expenses
$0
Program service expenses (Part III)
$100,000

Program services were 38.1% 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.

  • 2a · Program service revenue: HEALTHCARE RELATED REVENUE

    total -$331,925 · related or exempt -$331,925

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $73,685

  • 6b · Less rental expenses

    real property $44,543

  • 6c · Rental income or loss

    real property $29,142 · personal property $0

  • 6d · Net rental income or loss

    total $29,142 · excluded $29,142

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,000 · program services $100,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $6,492 · management and general $6,492

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $95,979 · program services $0 · management and general $95,979 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $3,445 · management and general $3,445

  • 24a · Other expenses: ALLOCATION OF PERSONNEL COSTS

    total $54,648 · program services $0 · management and general $54,648 · fundraising $0

  • 24b · Other expenses: OTHER EXPENSES

    total $2,001 · program services $0 · management and general $2,001 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,354 · end of year $15,860

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

    $652,250

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

    $518,250

  • 10c · Land, buildings and equipment, net

    beginning of year $134,000 · end of year $134,000

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $7,685 · end of year $6,014

  • 17 · Accounts payable and accrued expenses

    beginning of year $685,791 · end of year $675,330

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,607,977 · end of year $6,258,578

  • 27 · Net assets without donor restrictions

    beginning of year -$6,136,729 · end of year -$6,778,034

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

THE ORGANIZATION FUNCTIONS AS THE PARENT CORPORATION OF AND SUPPORTS THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF SHORE MEMORIAL HEALTH SYSTEM AND AFFILIATES, INCLUDING SHORE MEDICAL CENTER, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.

Activities or mission (Part I)

TO CONTINUALLY DEVELOP AND OPERATE A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM.

  • EXPENSES INCURRED IN SUPPORTING SHORE MEMORIAL HEALTH SYSTEM AND ITS AFFILIATES, INCLUDING SHORE MEDICAL CENTER, A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT HOSPITAL ORGANIZATION, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY. PLEASE REFER TO SCHEDULE O FOR THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT.

    Expenses $100,000 · Grants $100,000 · Revenue -$331,925

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

Listed in Part VII

  • Ronald W Johnson

    TRUSTEE - CEO (TERM 12/21/24)

    Total calculated
    $2,130,125
    From this org
    $0
    From related orgs
    $2,029,654
    Other
    $100,471
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $0 + $964,861 related
    Bonus
    $0 + $349,399 related
    Other
    $0 + $715,394 related
    Deferred
    $0 + $66,000 related
    Nontaxable benefits
    $0 + $34,471 related
    Filer's total
    $0 + $2,130,125 related

  • David R Hughes

    Trustee - CEO (EFF 12/01/24)

    Total calculated
    $1,037,348
    From this org
    $0
    From related orgs
    $932,516
    Other
    $104,832
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $0 + $484,863 related
    Bonus
    $0 + $191,419 related
    Other
    $0 + $256,234 related
    Deferred
    $0 + $71,580 related
    Nontaxable benefits
    $0 + $33,252 related
    Filer's total
    $0 + $1,037,348 related

  • Robert J Bray DDS Ms

    CHAIR - TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Carmine J Taglialatella Jwc

    VICE CHAIR - TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sandy Tzaferos Pharmd

    SECRETARY/ASST TREAS - TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • David Beyel

    TREASURER/ASST SEC - TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Bray

    TRUSTEE; EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Fernando Delasotta MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jay Gillian

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ronald B Stablini CPA MBA

    TRUSTEE; EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Richard L Tara

    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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I; QUESTION 4B
THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES A CURRENT YEAR VESTING IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) AS THE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNT OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUAL'S 2024 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES: RONALD W. JOHNSON, $668,276 AND DAVID R. HUGHES, $182,635. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUAL INCLUDES A CURRENT YEAR VESTING IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) AS THE AMOUNT WAS NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNT OUTLINED HEREIN WAS INCLUDED IN HIS 2024 FORM W-2 AS TAXABLE WAGES: DAVID R. HUGHES, $58,588. THE DEFERRED COMPENSATION AMOUNTS REFLECTED IN SCHEDULE J, PART II, COLUMN C FOR THE FOLLOWING INDIVIDUAL INCLUDES UNVESTED BENEFITS IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) WHICH ARE SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. ACCORDINGLY, HE MAY NEVER ACTUALLY RECEIVE THIS UNVESTED BENEFIT AMOUNT. THE AMOUNT OUTLINE HEREIN WAS NOT INCLUDED IN HIS 2024 FORM W-2 BOX 5, AS TAXABLE MEDICARE WAGES: DAVID R. HUGHES, $52,980.
SCHEDULE J, PART I; QUESTION 7
THE INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED A BONUS DURING CALENDAR YEAR 2024 WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2024 FORM W-2 AS TAXABLE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION.
SCHEDULE J, PART II; COLUMN F
THE AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN (F) INCLUDE VESTED BENEFITS IN A DEFERRED COMPENSATION PLAN AS THESE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. THESE AMOUNTS WERE REPORTED AS DEFERRED COMPENSATION ON PRIOR YEARS' FORMS 990 AND ARE NOW BEING REPORTED AGAIN ON THIS YEAR'S FORM 990. THESE AMOUNTS HAVE BEEN TREATED AS TAXABLE INCOME AND WERE REPORTED ON EACH INDIVIDUAL'S FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES.

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

  • CITY OF SOMERS POINT

    $100,000

    PROGRAM SUPPORT

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.

  • SHORE HEALTH ENTERPRISES INC

    C CORP. · RENTAL REAL EST. · NJ · 100% owned · share of income $752,989 · share of assets $3,942,984 · controlled entity

    Directly controlled by SMHS

  • SHORE MEMORIAL PHYSICIAN'S GROUP PC

    C CORP. · HEALTHCARE SVCS. · NJ

    Directly controlled by NA

  • BAYFRONT URGENT CARE PA

    C CORP. · HEALTHCARE SVCS. · NJ

    Directly controlled by NA

  • SHORE HOSPITALISTS ASSOCIATES PA

    C CORP. · HEALTHCARE SVCS. · NJ

    Directly controlled by NA

  • SHORE PATHOLOGY ASSOCIATES PC

    C CORP. · HEALTHCARE SVCS. · NJ

    Directly controlled by NA

  • SHORE SPECIALTY CONSULTANTS PA

    C CORP. · HEALTHCARE SVCS. · NJ

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
22 July 2025
IRS schema version
2024v5.2
Source object
202543229349302304

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