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Nonprofiteer
← SOUTHCOAST HEALTH SYSTEM INC

Form 990 for tax year 2023

Filed by SOUTHCOAST HEALTH SYSTEM INC.

Totals

Total revenue
$32,172,337
Total expenses
$17,122,325
Contributions and grants received
$1,558,395
Grants paid
$0
Program service revenue
$22,134,616
Investment income
$8,479,326
Other revenue
$0
Total assets, end of year
$291,297,834
Total liabilities, end of year
$30,316,712
Net assets or fund balances, end of year
$260,981,122
Program services expenses (Part IX)
$13,637,230
Management and general expenses
$3,485,095
Fundraising expenses
$0
Program service expenses (Part III)
$13,637,230

Program services were 79.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • RAYFORD KRUGER MD

    PRES & CEO, EX-OFFICIO (TO 1/24)

    Total calculated
    $1,611,294
    From this org
    $0
    From related orgs
    $1,300,999
    Other
    $310,295
    Hours/week
    8.5 + 66.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,291,999 related
    Bonus
    $0
    Other
    $0 + $9,000 related
    Deferred
    $0 + $291,000 related
    Nontaxable benefits
    $0 + $19,295 related
    Filer's total
    $0 + $1,611,294 related

  • ILANA FEINERMAN MD

    TRUSTEE

    Total calculated
    $723,530
    From this org
    $0
    From related orgs
    $681,207
    Other
    $42,323
    Hours/week
    1.5 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $610,299 related
    Bonus
    $0 + $70,000 related
    Other
    $0 + $908 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $22,523 related
    Filer's total
    $0 + $723,530 related

  • DAVID MCCREADY

    EX-OFFICIO, PRES & CEO (FROM 1/24)

    Total calculated
    $368,772
    From this org
    $0
    From related orgs
    $317,489
    Other
    $51,283
    Hours/week
    37.5 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,244 related
    Bonus
    $0
    Other
    $0 + $21,245 related
    Deferred
    $0 + $45,370 related
    Nontaxable benefits
    $0 + $5,913 related
    Filer's total
    $0 + $368,772 related

  • JOHN MUNGOVAN MD

    TRUSTEE (AS OF 1/2024)

    Total calculated
    $143,702
    From this org
    $0
    From related orgs
    $143,702
    Other
    $0
    Hours/week
    1.5 + 15 related

  • ROBERT RONAN MD

    TRUSTEE (UNTIL 12/2023)

    Total calculated
    $37,639
    From this org
    $0
    From related orgs
    $37,639
    Other
    $0
    Hours/week
    1.5 + 5 related

  • SALMAN BASHIR MD

    TRUSTEE

    Total calculated
    $3,858
    From this org
    $0
    From related orgs
    $3,858
    Other
    $0
    Hours/week
    1.5 + 4.5 related

  • CARMEN F SYLVESTER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5 + 6.5 related

  • CHRISTOPHER HODGSON

    TRUSTEE, CLERK (AS OF 1/2024)

    Total calculated
    $0
    Hours/week
    2.5 + 6.5 related

  • DONALD G GIUMETTI

    CHAIR

    Total calculated
    $0
    Hours/week
    2.5 + 12.5 related

  • JAMES JEROME COOGAN

    CLERK (UNTIL 12/2023)

    Total calculated
    $0
    Hours/week
    2.5 + 5 related

  • DENNIS FUSCO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 4.5 related

  • ELIZABETH HUIDEKOPER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7 related

  • HELENA DASILVA HUGHES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 3 related

  • JASON RUA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 8 related

  • JAY SCHACHNE MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 4.5 related

  • JONATHAN L ROUNDS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 3 related

  • LOUIS CABRAL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7 related

  • W HUGH M MORTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 3 related

  • RENEE CLARK

    ASST. CLERK/ EVP & COO

    Total calculated
    $1,312,578
    From this org
    $0
    From related orgs
    $1,121,185
    Other
    $191,393
    Hours/week
    2.5 + 70 related

    Schedule J breakdown matched by us

    Base
    $0 + $740,190 related
    Bonus
    $0 + $242,200 related
    Other
    $0 + $138,795 related
    Deferred
    $0 + $168,243 related
    Nontaxable benefits
    $0 + $23,150 related
    Filer's total
    $0 + $1,312,578 related

  • WADE BROUGHMAN

    TREASUER/ EVP FIN & CFO

    Total calculated
    $1,194,209
    From this org
    $0
    From related orgs
    $1,155,114
    Other
    $39,095
    Hours/week
    5.5 + 69.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $743,502 related
    Bonus
    $0 + $242,200 related
    Other
    $0 + $169,412 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $19,295 related
    Filer's total
    $0 + $1,194,209 related

  • JEFFREY LAWRENCE MD

    SVP, CTIO, PIC (TO 4/24)

    Total calculated
    $918,401
    From this org
    $0
    From related orgs
    $786,359
    Other
    $132,042
    Hours/week
    24 + 38.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $613,187 related
    Bonus
    $0 + $143,800 related
    Other
    $0 + $29,372 related
    Deferred
    $0 + $109,519 related
    Nontaxable benefits
    $0 + $22,523 related
    Filer's total
    $0 + $918,401 related

  • LAUREN MELBY

    VP POPULATION HEALTH

    Total calculated
    $230,700
    From this org
    $0
    From related orgs
    $205,046
    Other
    $25,654
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $198,083 related
    Bonus
    $0 + $6,440 related
    Other
    $0 + $523 related
    Deferred
    $0 + $3,117 related
    Nontaxable benefits
    $0 + $22,537 related
    Filer's total
    $0 + $230,700 related

  • CHRISTINE M CERNAK

    ED-INTEGRATED CARE MANAGEMENT

    Total calculated
    $279,688
    From this org
    $0
    From related orgs
    $257,059
    Other
    $22,629
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $248,760 related
    Bonus
    $0 + $7,776 related
    Other
    $0 + $523 related
    Deferred
    $0 + $4,055 related
    Nontaxable benefits
    $0 + $18,574 related
    Filer's total
    $0 + $279,688 related

  • KENNETH EUGENIO

    M-OPERATIONS-SHN

    Total calculated
    $209,855
    From this org
    $0
    From related orgs
    $175,717
    Other
    $34,138
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $172,684 related
    Bonus
    $0 + $1,933 related
    Other
    $0 + $1,100 related
    Deferred
    $0 + $11,028 related
    Nontaxable benefits
    $0 + $23,110 related
    Filer's total
    $0 + $209,855 related

  • DANIELLE A MEDINA

    ED-CONTRACTING

    Total calculated
    $202,293
    From this org
    $0
    From related orgs
    $180,132
    Other
    $22,161
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $169,972 related
    Bonus
    $0 + $9,275 related
    Other
    $0 + $885 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,161 related
    Filer's total
    $0 + $202,293 related

  • DAWN DAVIDIAN

    TL-RN-CARE NAVIGATION

    Total calculated
    $175,818
    From this org
    $0
    From related orgs
    $157,474
    Other
    $18,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $150,406 related
    Bonus
    $0 + $217 related
    Other
    $0 + $6,851 related
    Deferred
    $0 + $10,244 related
    Nontaxable benefits
    $0 + $8,100 related
    Filer's total
    $0 + $175,818 related

  • LINDA CLARK

    PHARMACIST-CLINICAL SPEC-AMB C

    Total calculated
    $167,605
    From this org
    $0
    From related orgs
    $157,653
    Other
    $9,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $151,816 related
    Bonus
    $0 + $217 related
    Other
    $0 + $5,620 related
    Deferred
    $0 + $9,437 related
    Nontaxable benefits
    $0 + $515 related
    Filer's total
    $0 + $167,605 related

  • KEITH HOVAN

    FORMER EX-OFFICIO AND PRESIDENT & CEO

    Total calculated
    $1,615,731
    From this org
    $0
    From related orgs
    $1,615,731
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $1,615,731 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $1,615,731 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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 1A
SHS DOES NOT EMPLOY ANY INDIVIDUALS. OFFICERS AND TRUSTEES OF SHS RECEIVE NO COMPENSATION FOR THEIR ROLES IN THESE CAPACITIES. OFFICERS AND TRUSTEES (CURRENT OR FORMER) WITH REPORTABLE COMPENSATION ARE COMPENSATED BY A NON-PROFIT SUBSIDIARY ORGANIZATION'S PAYROLL FOR SERVICES RENDERED AS EMPLOYEES OF THE SUBSIDIARY.
PART I, LINE 3
SOUTHCOAST HOSPITAL GROUP (SHG), A RELATED ORGANIZATION CHECKED THE FOLLOWING BOXES WHICH WERE USED BY SHG TO ESTABLISH COMPENSATION OF THE PRESIDENT: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINES 4A-B
LINE 4A: A SEVERANCE PAYMENT IN THE AMOUNT OF $1,615,731 (NET OF WITHHOLDING) WAS MADE DURING THE REPORTING PERIOD TO KEITH HOVAN THAT WAS PAID FROM SOUTHCOAST HOSPITAL GROUP, INC., A RELATED ORGANIZATION. LINE 4B: OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTION CREDITS UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (C). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES THE VESTED PORTION OF CONTRIBUTIONS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $124,038 WADE BROUGHMAN - $148,443
PART II, COLUMN F:
OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. PRIOR YEAR CONTRIBUTION CREDITS INCLUDED AS DEFERRED IN A PRIOR YEAR AND AS W-2 COMPENSATION IN THE CURRENT YEAR ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (F). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN F FOR THE FOLLOWING INDIVIDUALS INCLUDES THE ORIGINAL CONTRIBUTION CREDITS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $120,300

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.

Related corporations and trusts

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

  • COASTLINE PROFESSIONAL ASSURANCE CORP LTD

    C · INSURANCE · CJ · 100% owned · share of income $14,252,415 · share of assets $44,749,953 · controlled entity

    Directly controlled by SOUTHCOAST HEALTH SYSTEM INC

  • HEALTH MANAGEMENT INITIATIVES INC

    C · COMM RENTALS · MA · 100% owned · share of income $417,533 · share of assets $8,736,717 · controlled entity

    Directly controlled by SOUTHCOAST HEALTH SYSTEM INC

  • SAME DAY SURGICARE OF NE INC

    S · MEDICAL SERVICES · MA · 49.07% owned · share of income $66,580 · share of assets $267,263 · controlled entity

    Directly controlled by SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202542279349303444

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