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Nonprofiteer
← TWIN RIVERS MEDICAL PC

Form 990 for tax year 2022

Filed by TWIN RIVERS MEDICAL PC.

Totals

Total revenue
$1,921,416
Total expenses
$3,554,107
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,921,408
Investment income
$8
Other revenue
$0
Total assets, end of year
$379,908
Total liabilities, end of year
$1,519,300
Net assets or fund balances, end of year
-$1,139,392
Program services expenses (Part IX)
$2,953,021
Management and general expenses
$601,086
Fundraising expenses
$0
Program service expenses (Part III)
$2,953,021

Program services were 83.1% 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: NET PATIENT SERVICE REVENUE

    total $1,921,408 · related or exempt $1,921,408

  • 3 · Investment income

    total $8 · excluded $8

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,208 · management and general $2,208

  • 11g · Fees: other

    total $2,744,901 · program services $2,252,768 · management and general $492,133

  • 13 · Office expenses

    total $96,011 · program services $79,689 · management and general $16,322

  • 14 · Information technology

    total $20,664 · management and general $20,664

  • 16 · Occupancy

    total $383,599 · program services $322,223 · management and general $61,376

  • 22 · Depreciation, depletion and amortization

    total $36,245 · program services $30,083 · management and general $6,162

  • 23 · Insurance

    total $1,780 · management and general $1,780

  • 24a · Other expenses: MEDICAL SUPPLIES & DRUG

    total $266,118 · program services $266,118

  • 24b · Other expenses: LICENSES, DUES, SUBS.

    total $2,581 · program services $2,140 · management and general $441

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $65,180 · end of year $39,189

  • 2 · Savings and temporary cash investments

    beginning of year $20,820 · end of year $19,791

  • 4 · Accounts receivable

    beginning of year $137,398 · end of year $30,223

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,721 · end of year $16,721

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

    $548,476

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

    $274,492

  • 10c · Land, buildings and equipment, net

    beginning of year $185,657 · end of year $273,984

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $41,837 · end of year $74,461

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,572,330 · end of year $1,444,839

  • 27 · Net assets without donor restrictions

    beginning of year -$1,188,391 · end of year -$1,139,392

Mission and programs · 2022

Mission

TWIN RIVERS MEDICAL PC OPERATES A PRIMARY CARE PHYSICIAN OFFICE.

  • TWIN RIVERS MEDICAL, P.C. IS A FAMILY MEDICINE PRACTICE OFFERING PRIMARY CARE TO CHILDREN, ADOLESCENTS AND ADULTS FOR THE GREATER HOOSICK FALLS AND CAMBRIDGE COMMUNITIES. THE PRACTICE WAS FORMED THROUGH THE MERGER OF MARTINEZ FAMILY PRACTICE AND VILLAGE PRIMARY CARE. TWIN RIVERS MEDICAL PC OFFERS A FULL SPECTRUM OF HEALTH CARE INCLUDING PEDIATRICS, ADOLESCENT, AND ADULT MEDICINE.

    Expenses $2,953,021 · Revenue $1,921,408

As filed on the 2022 return.

Listed in Part VII

  • Carl Dobson

    PRESIDENT

    Total calculated
    $511,769
    From this org
    $0
    From related orgs
    $456,524
    Other
    $55,245
    Hours/week
    1 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $391,024 related
    Bonus
    $0 + $65,500 related
    Other
    $0
    Deferred
    $0 + $34,188 related
    Nontaxable benefits
    $0 + $21,057 related
    Filer's total
    $0 + $511,769 related

  • Stephen D Majetich

    CFO / TREASURER

    Total calculated
    $935,831
    From this org
    $0
    From related orgs
    $787,033
    Other
    $148,798
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $397,656 related
    Bonus
    $0 + $77,500 related
    Other
    $0 + $311,877 related
    Deferred
    $0 + $120,012 related
    Nontaxable benefits
    $0 + $28,786 related
    Filer's total
    $0 + $935,831 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

  • 4b · Supplemental nonqualified retirement plan

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

The filer's explanations (Part III)

PART I, LINE 3
TOP MANAGEMENT OFFICIAL COMPENSATION DETERMINATION: SOUTHWESTERN VERMONT MEDICAL CENTER, A RELATED ORGANIZATION, USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE CEO: INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.
PART I, LINE 4B
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: CERTAIN LISTED INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT IN CALENDAR YEAR 2022. UNDER THE TERMS OF THE PLAN, THE INDIVIDUAL BECOMES VESTED IF THEY REMAINED EMPLOYED THROUGH A TARGETED DATE OF THE PLAN. AMOUNTS VESTED IN THE PLAN DURING THE REPORTING PERIOD ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). AMOUNTS SUBJECT TO VESTED REQUIREMENTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C) AND INCLUDED BELOW. STEPHEN D. MAJETICH: $112,012

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.

Related corporations and trusts

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

  • SOUTHWESTERN VT HEALTHCARE ENTERPRISES

    C · HEALTHCARE · VT

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202432279349303258

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