Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $568,643

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $51,439,355 · related or exempt $51,439,355

• 2b · Program service revenue: OTHER PROVISION OF HEALTHCARE REV

  total $10,112,221 · related or exempt $10,112,221

• 6a · Gross rents

  real property $91,965

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $91,965

• 6d · Net rental income or loss

  total $91,965 · excluded $91,965

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $2,492,924 · program services $2,492,924

• 7 · Other salaries and wages

  total $69,184,496 · program services $50,605,921 · management and general $18,578,575

• 8 · Pension plan contributions

  total $2,489,775 · program services $1,874,791 · management and general $614,984

• 9 · Other employee benefits

  total $5,117,936 · program services $3,945,073 · management and general $1,172,863

• 10 · Payroll taxes

  total $3,803,326 · program services $2,905,380 · management and general $897,946

• 11b · Fees: legal

  total $15,100 · management and general $15,100

• 11c · Fees: accounting

  total $24,024 · program services $13,032 · management and general $10,992

• 11g · Fees: other

  total $6,517,909 · program services $3,988,695 · management and general $2,529,214

• 12 · Advertising and promotion

  total $135 · program services $135

• 13 · Office expenses

  total $4,908,467 · program services $4,419,598 · management and general $488,869

• 14 · Information technology

  total $7,766 · program services $7,766

• 16 · Occupancy

  total $5,169,291 · program services $4,371,106 · management and general $798,185

• 17 · Travel

  total $7,473 · program services $5,153 · management and general $2,320

• 19 · Conferences, conventions and meetings

  total $58,536 · program services $47,904 · management and general $10,632

• 22 · Depreciation, depletion and amortization

  total $578,167 · program services $527,196 · management and general $50,971

• 23 · Insurance

  total $534,784 · program services $411,208 · management and general $123,576

• 24a · Other expenses: PATIENT BAD DEBT

  total $131,772 · program services $131,772

• 24b · Other expenses: MEMBERSHIP DUES

  total $130,973 · program services $97,429 · management and general $33,544

• 24c · Other expenses: MAINTENANCE

  total $72,794 · program services $55,049 · management and general $17,745

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,291,114 · end of year $3,546,866

• 4 · Accounts receivable

  beginning of year $4,707,017 · end of year $5,185,746

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $45,973

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

  $9,777,382

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

  $6,452,491

• 10c · Land, buildings and equipment, net

  beginning of year $2,885,660 · end of year $3,324,891

• 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 $5,721,447 · end of year $11,768,573

• 17 · Accounts payable and accrued expenses

  beginning of year $16,772,447 · end of year $18,272,155

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $321,242,536 · end of year $366,043,103

• 27 · Net assets without donor restrictions

  beginning of year -$321,409,745 · end of year -$360,443,209

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD OF DIRECTORS OF BEEBE MEDICAL CENTER, INC. APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR. AN INDEPENDENT COMPENSATION CONSULTANT IS UTILIZED TO COMPILE SALARY INFORMATION FOR THIS POSITION. MINUTES OF MEETINGS ARE MAINTAINED TO DOCUMENT DELIBERATION AND DECISIONS.

PART I, LINE 7

EXECUTIVES AND MANAGEMENT TEAM MEMBERS ARE ELIGIBLE FOR BONUSES IF THEY MEET SPECIFIC ORGANIZATIONAL OBJECTIVES INCLUDING QUALITY AND SAFETY ISSUES, PATIENT SATISFACTION SCORES, AND CERTAIN FINANCIAL GOALS. FOR VICE PRESIDENTS, 80% OF THEIR ELIGIBLE INCENTIVE IS BASED UPON ORGANIZATION - WIDE GOALS AND 20% IS BASED UPON INDIVIDUAL GOALS. FOR THE CEO, 100% OF THE ELIGIBLE INCENTIVE IS BASED UPON ORGANIZATION - WIDE OR TEAM GOALS. CERTAIN PHYSICIANS ARE ELIGIBLE FOR AN INCENTIVE BASED ON THE PHYSICIAN'S INDIVIDUAL PRACTICE NUMBER OF WORKED RVUS.

FORM 990, PART VII - STEVE QUIRICONI

EFFECTIVE APRIL 2023, STEVE QUIRICONI BECAME THE TREASURER FOR BEEBE PHYSICIAN NETWORK AND INTERIM CHIEF FINANCIAL OFFICER FOR BEEBE MEDICAL CENTER. STEVE QUIRICONI WAS PAID THROUGH WITTKIEFFER, AN INDEPENDENT CONSULTING FIRM. DURING CALENDAR YEAR 2023, BEEBE MEDICAL CENTER, A RELATED ORGANIZATION PAID $542,189 WITTKIEFFER FOR SERVICES PROVIDED TO THE ORGANIZATION THAT INCLUDED QUIRICONI'S COMPENSATION AS INTERIM CFO.