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← BAPTIST HEALTH PROPERTIES INC

Form 990 for tax year 2023

Filed by BAPTIST HEALTH PROPERTIES INC.

Totals

Total revenue
$16,534,581
Total expenses
$12,701,853
Contributions and grants received
$710,414
Grants paid
$0
Program service revenue
$15,807,262
Investment income
$16,905
Other revenue
$0
Total assets, end of year
$167,516,879
Total liabilities, end of year
$154,883,056
Net assets or fund balances, end of year
$12,633,823
Program services expenses (Part IX)
$10,669,555
Management and general expenses
$2,032,298
Fundraising expenses
$0
Program service expenses (Part III)
$10,669,555

Program services were 84.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $710,414

  • 1g · Noncash contributions included above

    $710,414

  • 2a · Program service revenue: Rental Revenue

    total $15,807,262 · related or exempt $15,807,262

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $11,530 · related or exempt $11,530

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $5,375

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

    other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $5,375

  • 7d · Net gain or loss

    total $5,375 · excluded $5,375

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $161,531 · program services $135,686 · management and general $25,845 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $409,051 · program services $343,603 · management and general $65,448 · fundraising $0

  • 14 · Information technology

    total $20,041 · program services $16,834 · management and general $3,207 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $9,855,126 · program services $8,278,306 · management and general $1,576,820 · fundraising $0

  • 17 · Travel

    total $1,336 · program services $1,122 · management and general $214 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $121,529 · program services $102,084 · management and general $19,445 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,105,630 · program services $1,768,729 · management and general $336,901 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Dues & Memberships

    total $22,117 · program services $18,578 · management and general $3,539 · fundraising $0

  • 24b · Other expenses: Licenses & Fees

    total $5,492 · program services $4,613 · management and general $879 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $139,849 · end of year $427,227

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

    $213,822,582

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

    $53,972,764

  • 10c · Land, buildings and equipment, net

    beginning of year $132,073,893 · end of year $159,849,818

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $7,397,578 · end of year $7,239,834

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,588,878 · end of year $5,619,221

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $223,679 · end of year $349,761

  • 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 $124,435,231 · end of year $148,914,074

  • 27 · Net assets without donor restrictions

    beginning of year $11,363,532 · end of year $12,633,823

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

To make hope, healing and well-being accessible to every person as an expression of God's love.

  • Baptist Health Properties, Inc. (BHP) owns and manages various real estate properties that are primarily leased to various healthcare-related entities that are part of Baptist Health System, Inc. (BHS), an exempt 501(c)(3) charitable hospital system located in Northeast Florida, as well as other 501(c)(3) medical-related entities. These properties include medical office buildings within close proximity to BHS's six hospitals, free parking lots for employees and patients, and vacant land for future use. During the 2024 tax year, Baptist Health Properties completed construction on Baptist Nassau Crossing Medical Campus, which includes a Free-Standing Emergency Department and Imaging Center and a medical office building condominium that was constructed by Pavilion Health Services, Inc., an affiliated company of BHP. BHP purchased 1.66 acres of undeveloped land in the Bartram Commons commercial development in Duval County on March 7, 2024. BHP also purchased 5.25 acres of undeveloped land adjacent to the Nassau Crossing campus on July 25, 2024.

    Expenses $10,669,555 · Revenue $15,818,792

As filed on the 2023 return.

Listed in Part VII

  • Keith A Tickell

    VP/Treasurer

    Total calculated
    $1,178,603
    From this org
    $0
    From related orgs
    $1,145,114
    Other
    $33,489
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $738,276 related
    Bonus
    $0 + $271,777 related
    Other
    $0 + $135,061 related
    Deferred
    $0 + $15,675 related
    Nontaxable benefits
    $0 + $17,814 related
    Filer's total
    $0 + $1,178,603 related

  • Matthew A Zuino

    President

    Total calculated
    $1,577,184
    From this org
    $0
    From related orgs
    $1,423,109
    Other
    $154,075
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $865,641 related
    Bonus
    $0 + $373,560 related
    Other
    $0 + $183,908 related
    Deferred
    $0 + $129,527 related
    Nontaxable benefits
    $0 + $24,548 related
    Filer's total
    $0 + $1,577,184 related

  • Michael A Mayo DHA

    Chair

    Total calculated
    $2,456,417
    From this org
    $0
    From related orgs
    $2,400,699
    Other
    $55,718
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,239,294 related
    Bonus
    $0 + $844,798 related
    Other
    $0 + $316,607 related
    Deferred
    $0 + $18,975 related
    Nontaxable benefits
    $0 + $36,743 related
    Filer's total
    $0 + $2,456,417 related

  • Karl B Hanson Esq

    Director

    Total calculated
    $337,716
    From this org
    $0
    From related orgs
    $322,882
    Other
    $14,834
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $273,157 related
    Bonus
    $0 + $49,700 related
    Other
    $0 + $25 related
    Deferred
    $0 + $12,868 related
    Nontaxable benefits
    $0 + $1,966 related
    Filer's total
    $0 + $337,716 related

  • G Scott Baity Esq

    Secretary

    Total calculated
    $1,052,314
    From this org
    $0
    From related orgs
    $918,506
    Other
    $133,808
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $566,725 related
    Bonus
    $0 + $212,481 related
    Other
    $0 + $139,300 related
    Deferred
    $0 + $120,024 related
    Nontaxable benefits
    $0 + $13,784 related
    Filer's total
    $0 + $1,052,314 related

  • T Scott Finnegan

    Treasurer through 03.27.24/Asst. Treasurer

    Total calculated
    $803,496
    From this org
    $0
    From related orgs
    $677,810
    Other
    $125,686
    Hours/week
    0.3 + 39.7 related

    Schedule J breakdown matched by us

    Base
    $0 + $359,938 related
    Bonus
    $0 + $111,997 related
    Other
    $0 + $205,875 related
    Deferred
    $0 + $111,729 related
    Nontaxable benefits
    $0 + $13,957 related
    Filer's total
    $0 + $803,496 related

  • Brett S McClung

    Former Chair (As of 05.01.21)

    Total calculated
    $512,000
    From this org
    $0
    From related orgs
    $512,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $125,000 related
    Other
    $0 + $387,000 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $512,000 related

  • Scott M Wooten

    Former Treasurer (As of 12.28.21)

    Total calculated
    $800,676
    From this org
    $0
    From related orgs
    $800,676
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $800,676 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $800,676 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
IN ACCORDANCE WITH THE EXECUTIVE COMPENSATION POLICY OF BAPTIST HEALTH SYSTEM, INC. (BHS), THE ORGANIZATION'S SOLE MEMBER, THE LEADERSHIP & COMPENSATION COMMITTEE (THE COMMITTEE) OF BHS (MADE UP OF INDEPENDENT DIRECTORS OF BHS) ANNUALLY ENGAGES A THIRD PARTY EXECUTIVE COMPENSATION CONSULTANT WHO PROVIDES COMPARABLES FOR EXECUTIVE COMPENSATION BASED ON CURRENT DATA REGARDING COMPENSATION PAID TO SIMILAR EXECUTIVES AT SIMILARLY-SITUATED TAX EXEMPT HEALTH SYSTEMS IN THE U.S. SUCH CONSULTANT USES THESE COMPARABLE HEALTH SYSTEMS , WHICH ARE GENERALLY THE SAME SIZE AS BHS (CONSIDERING REVENUE AND OTHER APPROPRIATE INDICATORS), TO ESTABLISH AN APPROPRIATE MARKET. WHEN THE COMMITTEE MEETS WITH SUCH CONSULTANT, THE CONSULTANT PROVIDES TO COMMITTEE MEMBERS EXECUTIVE COMPENSATION TARGET LEVELS THAT ARE COMPETITIVE WITH THE MARKET. GENERALLY, THE MEDIAN OF THE MARKET IS TARGETED. THE ACTUAL AMOUNT THAT BHS EXECUTIVES RECEIVE AS COMPENSATION MAY BE HIGHER OR LOWER THAN THE MEDIAN, DEPENDING ON BHS'S AND THE INDIVIDUAL'S PERFORMANCE. ONE OBJECTIVE OF THE COMMITTEE IS TO HAVE A STRONG LINK BETWEEN BHS AND INDIVIDUAL PERFORMANCE AND EXECUTIVE COMPENSATION SUCH THAT IF BHS AND THE INDIVIDUAL PERFORM AT AN OPTIMAL LEVEL, HIS OR HER COMPENSATION IS IN THE HIGHER RANGE OF THE MARKET. CONVERSELY, IF EITHER BHS OR INDIVIDUAL PERFORMANCE IS BELOW EXPECTATION, COMPENSATION MAY BE IN THE LOWER RANGE OF THE MARKET. OTHER FACTORS THAT INFLUENCE EXECUTIVE COMPENSATION RELATIVE TO THE MARKET INCLUDE THE EXECUTIVE'S EXPERIENCE AND BHS'S NEED TO ATTRACT AND RETAIN TOP EXECUTIVE TALENT. MINUTES OF THIS ANNUAL COMPENSATION REVIEW BY THE COMMITTEE ARE RECORDED BY SUCH CONSULTANT AND ARE APPROVED PROMPTLY BY THE CHAIR OF THE COMMITTEE.
Schedule J, Part I, Line 4a Severance or change-of-control payment
The following individual received severance payments during calendar year 2023: Brett McClung $387,000 and Scott Wooten $800,000. This amount is included on Schedule J, part II, column b(iii).
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
Baptist Health System, Inc. (BHS) parent affiliate of Baptist Health Properties, Inc., has three supplemental nonqualified retirement plans (SERPs). One is a SERP for certain executives, another is a defined benefit SERP for vice presidents, and the third is a defined contribution SERP for senior management. These SERPs are plans described in IRS Section 457(f). The benefits under these plans accrue during each executive's term of employment. These benefits are unvested and subject to forfeiture until the covered employee reaches retirement age or the five-year anniversary of the contribution date. The following individuals accrued unvested benefits under these plans during calendar year 2023: G. Scott Baity $83,700, T. Scott Finnegan $70,350, and Matthew Zuino $113,852. These accrued benefits are unvested and subject to forfeiture unless the named employee remains employed with BHS until the covered employee reaches retirement age or the five-year anniversary of the contribution date. This amount is included on Schedule J, part II, column (c).

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 partnerships

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

  • Corporate Health LLC

    N/A · Development/ operation of a medically-based wellness program for the northeast Florida community · FL

    Directly controlled by Baptist Health Ambulatory Services Inc

  • BayBap LLC

    N/A · Home Health · FL

    Directly controlled by Pavilion Health Services Inc

  • BAPTIST-COMPASS SURGICAL VENTURES LLC

    N/A · OWNS/OPERATES SURGICAL CENTERS FOR HEALTHCARE SYSTEM · NC

    Directly controlled by PAVILION HEALTH SERVICES INC

  • BG-PHS NASSAU CROSSING LLC

    N/A · REAL ESTATE · FL

    Directly controlled by PAVILION HEALTH SERVICES INC

Related corporations and trusts

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

  • PAVILION HEALTH SERVICES INC

    C Corporation · PHYSICIAN PRACTICES · FL

    Directly controlled by Baptist Health System Inc

  • Baptist Specialty Physicians Inc

    C Corporation · Physician Practices · FL

    Directly controlled by Southern Baptist Hospital of Florida Inc

Provenance

Return type
form_990
Tax year
2023
Filed
11 August 2025
IRS schema version
2023v6.0
Source object
202542239349300509

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