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Nonprofiteer
← HERITAGE VALLEY HEALTH SYSTEM INC

Form 990 for tax year 2023

Filed by HERITAGE VALLEY HEALTH SYSTEM INC.

Totals

Total revenue
$29,440,382
Total expenses
$18,182,267
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,750,996
Investment income
$9,689,386
Other revenue
$0
Total assets, end of year
$159,425,411
Total liabilities, end of year
$20,596,411
Net assets or fund balances, end of year
$138,829,000
Program services expenses (Part IX)
$17,508,082
Management and general expenses
$674,185
Fundraising expenses
$0
Program service expenses (Part III)
$17,508,082

Program services were 96.3% 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: SHARED SAVINGS REVENUE

    total $19,750,996 · related or exempt $19,750,996

  • 3 · Investment income

    total $9,480,712 · excluded $9,480,712

  • 7a · Gross sales of assets other than inventory

    securities $208,674

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

    securities $0

  • 7c · Gain or loss

    securities $208,674

  • 7d · Net gain or loss

    total $208,674 · excluded $208,674

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,214,297 · program services $1,706,192 · management and general $508,105

  • 8 · Pension plan contributions

    total $34,647 · program services $26,697 · management and general $7,950

  • 9 · Other employee benefits

    total $296,826 · program services $228,715 · management and general $68,111

  • 10 · Payroll taxes

    total $104,285 · program services $80,355 · management and general $23,930

  • 13 · Office expenses

    total $998 · program services $998

  • 14 · Information technology

    total $368,681 · program services $368,681

  • 17 · Travel

    total $5,294 · program services $5,294

  • 19 · Conferences, conventions and meetings

    total $668 · program services $668

  • 24a · Other expenses: HVHN LLC SHARED SAVINGS

    total $15,080,747 · program services $15,080,747

  • 24b · Other expenses: CONSULTING SERVICES

    total $66,089 · management and general $66,089

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $9,735 · program services $9,735

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,081,008 · end of year $4,097,461

  • 2 · Savings and temporary cash investments

    beginning of year $5,273,675 · end of year $5,462,450

  • 4 · Accounts receivable

    beginning of year $880,146 · end of year $7,172,970

  • 9 · Prepaid expenses and deferred charges

    beginning of year $511,713 · end of year $778,218

  • 11 · Investments: publicly traded securities

    beginning of year $1,138,131 · end of year $899,174

  • 12 · Investments: other securities

    beginning of year $48,460,063 · end of year $53,111,061

  • 14 · Intangible assets

    beginning of year $1,215,476 · end of year $1,215,476

  • 15 · Other assets

    beginning of year $65,715,900 · end of year $86,688,601

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,352,742 · end of year $18,012,798

  • 23 · Secured mortgages and notes payable

    beginning of year $3,242,170 · end of year $2,583,613

  • 27 · Net assets without donor restrictions

    beginning of year $126,182,200 · end of year $137,330,000

  • 28 · Net assets with donor restrictions

    beginning of year $1,499,000 · end of year $1,499,000

Mission and programs · 2023

Mission

SUPPORTING ORGANIZATION TO TAX-EXEMPT HOSPITALS (VALLEY MEDICAL FACILITIES, INC.) HELPING THE HOSPITALS TO FURTHER THEIR TAX-EXEMPT PURPOSES.

  • HERITAGE VALLEY HEALTH SYSTEM, INC. FORMED THE HERITAGE VALLEY HEALTHCARE NETWORK, LLC. (HVHN) IN FY 2017. THE PURPOSE OF THE HVHN IS TO FORM A CLINICALLY INTEGRATED PHYSICIAN HOSPITAL NETWORK WITH JOINT CONTRACTING AUTHORITY TO DEVELOP CARE PROTOCOLS AND OTHER CARE COORDINATION POLICIES USING EVIDENCE-BASED MEDICINE AND OTHER TECHNIQUES TO PROVIDE A MORE COST-EFFECTIVE HEALTH CARE PRODUCT WHILE MAINTAINING OR IMPROVING PHYSICIAN REIMBURSEMENT, USING EXISTING EXPERIENCE AND SUCCESS OF AFFILIATED PRIMARY CARE PRACTICES AS A FOUNDATION FROM WHICH TO BUILD.

    Expenses $17,508,082 · Revenue $19,750,996

As filed on the 2023 return.

Listed in Part VII

  • Norman F Mitry

    PRESIDENT & CEO

    Total calculated
    $1,177,881
    From this org
    $0
    From related orgs
    $1,133,045
    Other
    $44,836
    Hours/week
    2 + 64.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $840,814 related
    Bonus
    $0 + $250,250 related
    Other
    $0 + $41,981 related
    Deferred
    $0 + $28,098 related
    Nontaxable benefits
    $0 + $16,738 related
    Filer's total
    $0 + $1,177,881 related

  • Scott M Elste

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Suzanne Paone Dha

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Bob Terwilliger

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Fred Clerici

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Lynn George PhD

    EMERITUS BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Ann Marie Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Michael Malkowski MD

    DIRECTOR/PHYSICIAN

    Total calculated
    $640,494
    From this org
    $0
    From related orgs
    $607,218
    Other
    $33,276
    Hours/week
    2 + 41.25 related

    Schedule J breakdown matched by us

    Base
    $0 + $476,316 related
    Bonus
    $0 + $115,702 related
    Other
    $0 + $15,200 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $20,076 related
    Filer's total
    $0 + $640,494 related

  • Kevin Flannery

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Thomas Leydig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jeffrey Hein MD

    DIRECTOR/PHYSICIAN

    Total calculated
    $545,822
    From this org
    $0
    From related orgs
    $514,412
    Other
    $31,410
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,214 related
    Bonus
    $0 + $287,148 related
    Other
    $0 + $32,050 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $18,210 related
    Filer's total
    $0 + $545,822 related

  • Roger Davis EdD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Charles Kelly Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Richard Bowers MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Karen Jerome-Zapadka MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Diana Kozlina-Peretic Dnp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Sridhar Tayur PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Garrett Richardson

    ASSOCIATE VP, FINANCE

    Total calculated
    $222,279
    From this org
    $0
    From related orgs
    $210,471
    Other
    $11,808
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $204,327 related
    Bonus
    $0
    Other
    $0 + $6,144 related
    Deferred
    $0 + $11,084 related
    Nontaxable benefits
    $0 + $724 related
    Filer's total
    $0 + $222,279 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
HERITAGE VALLEY HEALTH SYSTEM'S BOARD OF DIRECTORS HAS APPOINTED AN EXECUTIVE COMPENSATION COMMITTEE TO REVIEW THE SALARIES FOR THE ORGANIZATION'S CEO AND OTHER SENIOR MANAGEMENT OFFICIALS. AS PART OF THE REVIEW, THE EXECUTIVE COMPENSATION COMMITTEE ENGAGED AN OUTSIDE CONSULTING FIRM TO REVIEW THE BASE SALARIES OF THE SENIOR MANAGEMENT TEAM INCLUDING THE CEO IN COMPARISON TO THE MARKET TO ENSURE REASONABLENESS OF COMPENSATION. MARKET ADJUSTMENTS ARE MADE ACCORDINGLY IN INSTANCES WHERE DATA SUPPORTED SUCH CHANGES FOR THIS PERIOD. BONUSES ARE PAID IN ACCORDANCE WITH AN INCENTIVE COMPENSATION PLAN WHICH WAS DEVELOPED AND APPROVED BY THE BOARD OF DIRECTORS SEVERAL YEARS AGO.

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.

Disregarded entities

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

  • HERITAGE VALLEY INSURANCE COMPANY

    PROFESSIONAL LIABILITY CAPTIVE · CJ · income $6,791,235 · assets $19,740,991

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • HERITAGE VALLEY HEALTHCARE NETWORK LLC

    CLINICAL INTEGRATED NETWORK · PA · income $16,340,355 · assets $11,606,830

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • HERITAGE VALLEY HEALTHCARE NETWORK ACO LLC

    CLINICAL INTEGRATED NETWORK · PA · income $3,032,570 · assets $2,497,568

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

Related partnerships

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

  • CONSOLIDATED SUPPLY CHAIN SERVICES LLC

    RELATED · GROUP PURCHASING · PA · 70% owned · share of income -$412 · share of assets $580,234 · general or managing partner

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • EDGEWORTH COMMONS GROUP LLC

    RELATED · SURGERY CENTER · PA · 51% owned · share of income -$266,593 · share of assets $1,350,752

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • BEAVER VALLEY AMBULATORY SURGERY CENTER LLC

    RELATED · SURGERY CENTER · PA · 51% owned · share of income -$446,177 · share of assets $2,288,195

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

Related corporations and trusts

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

  • HERITAGE VALLEY MULTISPECIALTY GROUP INC

    C · PHYSICIAN PRACTICE · PA · 100% owned · share of income -$13,636,976 · share of assets $156,662,117 · controlled entity

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • TRI-STATE OBSTETRICS & GYNECOLOGY

    C · PHYSICIAN PRACTICE · PA · 100% owned · share of income -$1,651,784 · share of assets $6,956,173 · controlled entity

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • HERITAGE VALLEY PEDIATRICS INC

    C · PHYSICIAN PRACTICE · PA · 100% owned · share of income $119,582 · share of assets $6,827,289 · controlled entity

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • TRI-STATE GYNECOLOGY INC

    C · PHYSICIAN PRACTICE · PA · 100% owned · controlled entity

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

  • EMBROOKE INCORPORATED

    C · AMBULANCE SERVICES · PA

  • KBS ANESTHESIA INC

    C · PROVIDES MEDICAL SERVICES · PA · 100% owned · share of assets $6,662,311

    Directly controlled by HERITAGE VALLEY HEALTH SYSTEM INC

Provenance

Return type
form_990
Tax year
2023
Filed
21 April 2025
IRS schema version
2023v6.0
Source object
202521329349306377

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