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← THOREK MEMORIAL HOSPITAL

Form 990 for tax year 2022

Filed by THOREK MEMORIAL HOSPITAL.

Totals

Total revenue
$142,575,807
Total expenses
$101,482,306
Contributions and grants received
$21,412,443
Grants paid
$8,500
Program service revenue
$112,375,027
Investment income
$7,969,571
Other revenue
$818,766
Total assets, end of year
$538,417,547
Total liabilities, end of year
$24,526,172
Net assets or fund balances, end of year
$513,891,375
Program services expenses (Part IX)
$82,880,031
Management and general expenses
$18,602,275
Fundraising expenses
$0
Program service expenses (Part III)
$82,880,031

Program services were 81.7% 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.

  • 1e · Government grants (contributions)

    $21,412,443

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $73,543,855 · related or exempt $73,543,855

  • 2b · Program service revenue: MEDICAID ASSESSMENT

    total $37,466,006 · related or exempt $37,466,006

  • 2c · Program service revenue: RESIDENT FEES

    total $1,365,166 · related or exempt $1,365,166

  • 3 · Investment income

    total $10,598,774 · unrelated business $16,885 · excluded $10,581,889

  • 6a · Gross rents

    real property $871,636

  • 6b · Less rental expenses

    real property $585,123

  • 6c · Rental income or loss

    real property $286,513

  • 6d · Net rental income or loss

    total $286,513 · related or exempt $286,513

  • 7a · Gross sales of assets other than inventory

    securities $53,411,079

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

    securities $56,040,282

  • 7c · Gain or loss

    securities -$2,629,203

  • 7d · Net gain or loss

    total -$2,629,203 · excluded -$2,629,203

  • 11a · Other revenue: DIETARY CASH SALES

    total $111,450 · related or exempt $111,450

  • 11b · Other revenue: MEDICAL RECORD FEES

    total $2,113 · related or exempt $2,113

  • 11c · Other revenue: X-RAY FILM FEES

    total $100 · related or exempt $100

  • 11d · All other revenue

    total $418,590 · related or exempt $418,590

  • 11e · Other revenue, total

    $532,253

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,500 · program services $8,500

  • 5 · Compensation of officers, directors and key employees

    total $1,939,077 · management and general $1,939,077

  • 7 · Other salaries and wages

    total $33,723,844 · program services $26,979,075 · management and general $6,744,769

  • 9 · Other employee benefits

    total $3,505,398 · program services $2,804,318 · management and general $701,080

  • 10 · Payroll taxes

    total $2,337,171 · program services $1,869,737 · management and general $467,434

  • 11b · Fees: legal

    total $210,289 · management and general $210,289

  • 11c · Fees: accounting

    total $144,015 · management and general $144,015

  • 11d · Fees: lobbying

    total $172,556 · management and general $172,556

  • 11f · Fees: investment management

    total $790,294 · management and general $790,294

  • 11g · Fees: other

    total $7,403,625 · program services $6,060,945 · management and general $1,342,680

  • 12 · Advertising and promotion

    total $64,724 · program services $64,724

  • 13 · Office expenses

    total $3,173,703 · program services $2,538,962 · management and general $634,741

  • 16 · Occupancy

    total $1,103,300 · program services $882,640 · management and general $220,660

  • 17 · Travel

    total $9,007 · program services $7,206 · management and general $1,801

  • 19 · Conferences, conventions and meetings

    total $9,672 · program services $7,738 · management and general $1,934

  • 22 · Depreciation, depletion and amortization

    total $3,734,510 · program services $3,734,510

  • 23 · Insurance

    total $4,094,109 · program services $3,275,287 · management and general $818,822

  • 24a · Other expenses: CLINICAL EXPENSES

    total $12,234,957 · program services $9,787,966 · management and general $2,446,991

  • 24b · Other expenses: CONTRACTED LABOR

    total $11,433,758 · program services $9,468,626 · management and general $1,965,132

  • 24c · Other expenses: MEDICAID ASSESSMENT

    total $9,269,582 · program services $9,269,582

  • 24d · Other expenses: BAD DEBT

    total $3,429,908 · program services $3,429,908

  • 24e · All other expenses

    total $2,690,307 · program services $2,690,307

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,035,630 · end of year $32,878,311

  • 2 · Savings and temporary cash investments

    beginning of year $379,564 · end of year $10,798,488

  • 4 · Accounts receivable

    beginning of year $4,555,691 · end of year $7,445,190

  • 8 · Inventories for sale or use

    beginning of year $2,042,825 · end of year $2,288,860

  • 9 · Prepaid expenses and deferred charges

    beginning of year $659,981 · end of year $992,010

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

    $158,401,179

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

    $89,211,190

  • 10c · Land, buildings and equipment, net

    beginning of year $69,521,911 · end of year $69,189,989

  • 11 · Investments: publicly traded securities

    beginning of year $347,184,526 · end of year $397,476,352

  • 12 · Investments: other securities

    beginning of year $10,544,278 · end of year $10,527,390

  • 15 · Other assets

    beginning of year $4,648,016 · end of year $6,820,957

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,183,858 · end of year $11,832,649

  • 19 · Deferred revenue

    beginning of year $4,320,558 · end of year $0

  • 25 · Other liabilities

    beginning of year $10,130,244 · end of year $12,693,523

  • 27 · Net assets without donor restrictions

    beginning of year $438,937,762 · end of year $513,891,375

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

THOREK MEMORIAL HOSPITAL IS COMMITTED TO PROVIDING APPROPRIATE PATIENT SERVICES IN A CARING & COST-EFFECTIVE MANNER. THOREK MEMORIAL HOSPITAL SEEKS TO SERVE ITS PATIENTS, PHYSICIANS, EMPLOYEES, & COMMUNITY BY PROVIDING QUALITY SERVICES & ENCOURAGING EMPLOYEE EXCELLENCE. THOREK MEMORIAL HOSPITAL WILL SUPPORT EDUCATION AND WILL ACT AS A RESPONSIBLE MEMBER OF OUR COMMUNITY AND THE HEALTHCARE DELIVERY SYSTEM.

Activities or mission (Part I)

PROVIDING QUALITY PATIENT CARE, PROMOTING WELLNESS, AND SUPPORTING EDUCATION.

  • THOREK MEMORIAL HOSPITAL PROVIDES QUALITY MEDICAL HEALTHCARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, AGE, OR ABILITY TO PAY. ALTHOUGH REIMBURSEMENT FOR SERVICE RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF THOREK MEMORIAL HOSPITAL, WE RECOGNIZE THAT IT IS THE HOSPITAL'S MISSION TO SERVE THE COMMUNITY BY PROVIDING HEALTHCARE SERVICES AND HEALTHCARE EDUCATION AND THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PAY FOR ESSENTIAL MEDICAL SERVICES. THEREFORE, IN KEEPING WITH THE HOSPITAL'S COMMITMENT TO SERVE ALL MEMBERS OF OUR COMMUNITY, WE PROVIDE FREE CARE AND OR SUBSIDIZED CARE TO INDIVIDUALS WHO ARE UNABLE TO PAY FOR ESSENTIAL SERVICES, AND PROVIDE HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT OUR COMMUNITY.

    Expenses $82,880,031 · Grants $8,500 · Revenue $113,193,793

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • PETER KAMBEROS

    COO & CORP SVCS.

    Total calculated
    $557,637
    From this org
    $556,353
    From related orgs
    $0
    Other
    $1,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $483,228
    Bonus
    $73,125
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $1,284
    Filer's total
    $557,637

  • JAGAN MOHAN MD

    SECRETARY

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6 + 1 related

  • EDWIN C LENNOX

    TREASURER - PART YEAR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • ROBERT BAUDINO

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • BONNIE PHIPPS

    TRUSTEE

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • PHILIP GORELICK MD

    TRUSTEE & CHIEF MEDICAL OFFICER - PART YEAR

    Total calculated
    $77,913
    From this org
    $77,913
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • NEAL SPERO MD

    TRUSTEE & MEDICAL STAFF PR - PART YEAR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • BHAGWAN JAIN

    TRUSTEE & MEDICAL STAFF PR - PART YEAR

    Total calculated
    $0
    Hours/week
    6

  • JAMES E NUGENT

    VICE CHAIR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • TIM HEINRICH

    CFO

    Total calculated
    $411,096
    From this org
    $394,142
    From related orgs
    $0
    Other
    $16,954
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $332,435
    Bonus
    $61,707
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,954
    Filer's total
    $411,096

  • EDWARD BUDD

    PRESIDENT

    Total calculated
    $563,424
    From this org
    $546,470
    From related orgs
    $0
    Other
    $16,954
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $462,046
    Bonus
    $84,424
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,954
    Filer's total
    $563,424

  • GENEVIEVE PRESBITERO

    CHIEF NURSING OFFICER

    Total calculated
    $371,595
    From this org
    $364,199
    From related orgs
    $0
    Other
    $7,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,355
    Bonus
    $52,844
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $7,396
    Filer's total
    $371,595

  • SUZANNE CHAN

    NURSE PRACTITIONER

    Total calculated
    $251,312
    From this org
    $235,000
    From related orgs
    $0
    Other
    $16,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $235,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,312
    Filer's total
    $251,312

  • STEVEN SCLAMBERG MD

    PHYSICIAN

    Total calculated
    $744,717
    From this org
    $728,405
    From related orgs
    $0
    Other
    $16,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $640,579
    Bonus
    $87,826
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,312
    Filer's total
    $744,717

  • JOHN HUNNIFORD MD

    PHYSICIAN

    Total calculated
    $424,177
    From this org
    $417,423
    From related orgs
    $0
    Other
    $6,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,927
    Bonus
    $83,496
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,754
    Filer's total
    $424,177

  • ANDREW ALBERT MD

    PHYSICIAN

    Total calculated
    $354,610
    From this org
    $354,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,610
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $354,610

  • JULIA DYER MD

    PHYSICIAN

    Total calculated
    $253,331
    From this org
    $253,331
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,331
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $253,331

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
AS INDICATED IN SCHEDULE J, PART II, CERTAIN OFFICERS AND HIGHEST COMPENSATED EMPLOYEES OF THE ORGANIZATION RECEIVED A BONUS BASED ON PERFORMANCE GOALS AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY THE COMPENSATION COMMITTEE.

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

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.

  • THOREK MEMORIAL FOUNDATION

    501(C)(3) · SUPPORT THOREK MEMORIAL HOSPITAL · IL · controlled entity

    Directly controlled by THOREK MEMORIAL HOSPITAL

Provenance

Return type
form_990
Tax year
2022
Filed
28 March 2024
IRS schema version
2022v5.0
Source object
202410929349300246

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