Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $257,336

• 2a · Program service revenue: Offices of physicians

  total $131,306,606 · related or exempt $131,306,606

• 2b · Program service revenue: Provision for bad debt

  total -$4,938,367 · related or exempt -$4,938,367

• 6a · Gross rents

  real property $982,364

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $982,364

• 6d · Net rental income or loss

  total $982,364 · related or exempt $982,364

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,262,853 · management and general $1,262,853

• 7 · Other salaries and wages

  total $100,733,460 · program services $95,723,619 · management and general $5,009,841

• 8 · Pension plan contributions

  total $3,437,494 · program services $3,245,298 · management and general $192,196

• 9 · Other employee benefits

  total $12,178,247 · program services $11,510,360 · management and general $667,887

• 10 · Payroll taxes

  total $5,785,290 · program services $5,433,200 · management and general $352,090

• 11g · Fees: other

  total $19,126,587 · program services $17,589,555 · management and general $1,537,032

• 12 · Advertising and promotion

  total $202,017 · program services $189,722 · management and general $12,295

• 13 · Office expenses

  total $447,597 · program services $420,358 · management and general $27,239

• 16 · Occupancy

  total $8,002,000 · program services $7,641,862 · management and general $360,138

• 19 · Conferences, conventions and meetings

  total $480,875 · program services $469,636 · management and general $11,239

• 20 · Interest

  total $206,827 · management and general $206,827

• 22 · Depreciation, depletion and amortization

  total $681,892 · program services $644,016 · management and general $37,876

• 23 · Insurance

  total $2,781,672 · program services $2,781,672

• 24a · Other expenses: Drugs/medical supplies

  total $10,879,473 · program services $10,867,548 · management and general $11,925

• 24b · Other expenses: Physician recruitment

  total $618,539 · program services $618,539

• 24c · Other expenses: Linen and laundry

  total $238,353 · program services $238,353

• 24d · Other expenses: Telephone

  total $127,714 · program services $122,962 · management and general $4,752

• 24e · All other expenses

  total $795,889 · program services $795,889

Balance sheet

Part X, book values.

• 4 · Accounts receivable

  beginning of year $8,629,488 · end of year $8,179,892

• 8 · Inventories for sale or use

  beginning of year $511,782 · end of year $531,126

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,042,825 · end of year $2,696,633

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

  $24,718,033

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

  $19,323,575

• 10c · Land, buildings and equipment, net

  beginning of year $5,174,628 · end of year $5,394,458

• 14 · Intangible assets

  beginning of year $4,639,568 · end of year $4,459,675

• 15 · Other assets

  beginning of year $36,149,438 · end of year $41,806,584

• 17 · Accounts payable and accrued expenses

  beginning of year $6,389,696 · end of year $5,631,624

• 23 · Secured mortgages and notes payable

  beginning of year $3,332,745 · end of year $2,959,875

• 25 · Other liabilities

  beginning of year $49,788,456 · end of year $58,353,952

• 27 · Net assets without donor restrictions

  beginning of year -$2,363,168 · end of year -$3,877,083

The filer's explanations (Part III)

Part I, Line 4b

Schedule J, Part I, Line 4b: Southern New Hampshire Medical Center and Foundation Medical Partners each provide a Section 457(f) Supplemental Executive Retirement Plan to certain executives. Contributions to the 457(f) plan are included in the recipients' 2023 Form W-2, Box 5 wages, and are also included in the amounts reported on this Form 990, Schedule J, Part II, Column B(iii), for any applicable persons. Funding to the 457(f) plan during the year was provided to the following individuals in the amounts listed below: - Michael Kaczanowski: $22,800 Additionally, SolutionHealth, the parent-organization of Southern New Hampshire Health System, also maintains a 457(f) deferred compensation plan. The following individuals, each of whom qualify as either an officer, director, trustee, key employee, or highest compensated employee on this Form 990, Part VII, received contributions to their 457(f) deferred compensation plans during the 2023 calendar year as follows: - Michael Turilli: $80,692 - John E. Friberg, Esq.: $69,117 These amounts have been reported within the named individuals' deferred compensation figures as shown on this Schedule J, Part II, Column C.

Part I, Line 7

Foundation Medical Partners providers participate in an incentive compensation plan. Payments are made under the Plan upon providers meeting certain productivity and quailty goals. Total payments under the Plan are subject to a maximum cap. The maximum possible incentive payment available under the Plan is considered by the organization's compensation committee when determining the reasonableness of compensation paid. There is an additional compensation plan available to managers, directors, and senior management that is part of their annual performance plan. The plan takes into consideration quality measures, patient satisfaction, individual goals, budget adherence, and overall organizational performance. The range and overall pool is reviewed and approved by the Board of Trustees. The amount designated for the CEO and CFO are considered in the compensation consultant's analysis of executive compensation.

Part I, Line 3:

The individuals who served as President of Foundation Medical Partners (FMP) were paid by a related organization, Southern New Hampshire Medical Center (SNHMC). SNHMC uses a compensation committee, independent compensation consultant, a compensation survey, and approval by the board or compensation committee to establish the compensation of the organization's CEO. Additionally, SNHMC paid Watkins Associates LLC $635,600 in 2023 in return for consulting services provided by James Watkins in his temporary role as Interim President & CEO of Foundation Medical Partners.

Unrelated Organization Compensation

Marc Sadowsky, is also the Medical Director of the Medical Center's Electro Convulsive Therapy (ECT) unit. During Calendar year 2023, Southern New Hampshire Medical Center paid New England Neurological Association $28,600 in in return for ECT and weekend coverage provided by Dr. Sadowsky to the Southern New Hampshire Health System.

Related partnerships

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

• Elliot Common Trust Fund LLC

  Investments · NH

Related corporations and trusts

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

• Elliot Health System Holdings & Subsidiaries

  C · Management · NH