Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $26,720,396

• 1e · Government grants (contributions)

  $151,568

• 1f · All other contributions, gifts and grants

  $2,677,759

• 1g · Noncash contributions included above

  $1,480,183

• 2a · Program service revenue: SUPP SVCS TO TAX-EXEM AFF

  total $194,245,774 · related or exempt $194,245,774

• 3 · Investment income

  total $31,708,897 · unrelated business $130,783 · excluded $31,578,114

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0

• 7a · Gross sales of assets other than inventory

  securities $106,245,243

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

  securities $106,536,537

• 7c · Gain or loss

  securities -$291,294

• 7d · Net gain or loss

  total -$291,294 · excluded -$291,294

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: RETURN ON CAPITAL

  total $308,598 · excluded $308,598

• 11b · Other revenue: CARELINK REVENUE

  total $1,780,919 · related or exempt $1,780,919

• 11c · Other revenue: CREDIT CARD REBATES

  total $315,079 · related or exempt $315,079

• 11d · All other revenue

  total $235,706 · related or exempt $235,706

• 11e · Other revenue, total

  $2,640,302

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $6,453,584 · program services $5,485,546 · management and general $968,038

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $82,332,416 · program services $69,982,554 · management and general $12,349,862

• 8 · Pension plan contributions

  total $6,328,127 · program services $5,378,908 · management and general $949,219

• 9 · Other employee benefits

  total $11,786,905 · program services $10,018,869 · management and general $1,768,036

• 10 · Payroll taxes

  total $5,886,193 · program services $5,003,264 · management and general $882,929

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $1,625,787 · management and general $1,625,787

• 11c · Fees: accounting

  total $561,690 · management and general $561,690

• 11d · Fees: lobbying

  total $64,463 · management and general $64,463

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $74,253 · management and general $74,253

• 11g · Fees: other

  total $25,090,782 · program services $21,327,165 · management and general $3,763,617

• 12 · Advertising and promotion

  total $511,478 · program services $434,756 · management and general $76,722

• 13 · Office expenses

  total $1,821,045 · program services $1,547,888 · management and general $273,157

• 14 · Information technology

  total $25,050,419 · program services $21,292,856 · management and general $3,757,563

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $9,204,158 · program services $7,823,534 · management and general $1,380,624

• 17 · Travel

  total $345,558 · program services $293,724 · management and general $51,834

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $741,640 · program services $630,394 · management and general $111,246

• 20 · Interest

  total $294,107 · program services $249,991 · management and general $44,116

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $12,708,171 · program services $10,801,945 · management and general $1,906,226

• 23 · Insurance

  total $578,711 · program services $491,904 · management and general $86,807

• 24a · Other expenses: RECRUITING & RELOCATION

  total $603,338 · program services $512,837 · management and general $90,501

• 24b · Other expenses: MARKETING

  total $2,717,456 · program services $2,309,838 · management and general $407,618

• 24c · Other expenses: UBIT

  total $2,000 · program services $1,700 · management and general $300

• 24d · Other expenses: REPAIRS & MAINTENANCE

  total $2,294,395 · program services $1,950,236 · management and general $344,159

• 24e · All other expenses

  total $3,434,899 · program services $2,974,457 · management and general $460,442

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 $453,299,882 · end of year $167,440,469

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $23,871 · end of year $1,414,776

• 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 $40,211,445 · end of year $61,319,445

• 8 · Inventories for sale or use

  beginning of year $4,289,136 · end of year $5,400,005

• 9 · Prepaid expenses and deferred charges

  beginning of year $8,345,669 · end of year $7,981,709

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

  $182,955,781

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

  $134,743,336

• 10c · Land, buildings and equipment, net

  beginning of year $35,882,870 · end of year $48,212,445

• 11 · Investments: publicly traded securities

  beginning of year $63,078,832 · end of year $233,805,488

• 12 · Investments: other securities

  beginning of year $41,322,435 · end of year $48,910,791

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $621,765,826 · end of year $998,111,140

• 17 · Accounts payable and accrued expenses

  beginning of year $90,202,809 · end of year $104,776,263

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $25,896,323 · end of year $23,743,431

• 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 $302,797,326 · end of year $302,797,739

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $636,940,203 · end of year $864,568,539

• 27 · Net assets without donor restrictions

  beginning of year $210,417,700 · end of year $274,870,283

• 28 · Net assets with donor restrictions

  beginning of year $1,965,605 · end of year $1,840,013

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3

COMPENSATION COMMITTEE REFERS TO A COMMITTEE OF THE ORGANIZATION'S GOVERNING BODY RESPONSIBLE FOR DETERMINING THE TOP MANAGEMENT OFFICIAL'S COMPENSATION PACKAGE, WHETHER OR NOT THE COMMITTEE HAS BEEN DELEGATED THE AUTHORITY TO MAKE AN EMPLOYMENT AGREEMENT WITH THE TOP MANAGEMENT OFFICIAL ON BEHALF OF THE ORGANIZATION. THE COMPENSATION COMMITTEE MAY ALSO HAVE OTHER DUTIES.

SCHEDULE J, PART I, LINE 7

COMPENSATION PAID FOR SERVICES JILL HOGGARD GREEN MS. HOGGARD GREEN SERVES AS A TRUSTEE FOR THE QUEEN'S HEALTH SYSTEMS AND SEVERAL OTHER QUEEN'S RELATED AFFILIATES. MS. HOGGARD GREEN ALSO SERVES AS PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE QUEEN'S HEALTH SYSTEMS ("QHS", PARENT COMPANY) AND CHAIR OF QUMG, MGH, NHCH AND QEL. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR HER VARIOUS SERVICES. JASON CHANG MR. CHANG SERVES AS EVP, INNOVATION & STRATEGY FOR THE QUEEN'S HEALTH SYSTEMS AND PRESIDENT OF QUEEN'S INNOVATION INSTITUTE, TRUSTEE OF QEL, MGH AND NHCH. HE ALSO SERVED AS COO OF QHS, PRESIDENT/TRUSTEE OF QMC AND QUMG THROUGH JANUARY 2023. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. DARLENA CHADWICK MS. CHADWICK SERVES AS EVP AND COO OF QHS, VICE PRESIDENT OF QMC AND TRUSTEE OF QUMG. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR ALL SERVICES. PAUL MCDOWELL MR. MCDOWELL SERVES AS THE TREASURER/CHIEF FINANCIAL OFFICER OF QHS, TREASURER OF QMC AND TRUSTEE OF QEL AND QUMG. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. MICHEL RICCIONI MR. RICCIONI SERVED AS TREASURER OF QMC, TREASURER/CHIEF FINANCIAL OFFICER OF QHS AND TRUSTEE OF QEL THROUGH AUGUST 2020. HE WAS A VOLUNTEER TRUSTEE AND WAS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED WAS HIS TOTAL COMPENSATION FOR ALL SERVICES SHARLENE TSUDA MS. TSUDA SERVED AS SECRETARY FOR QHS, QMC AND NHCH AND VP OF COMMUNITY DEVELOPMENT OF QHS THROUGH NOVEMBER 2020. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR ALL SERVICES. ERIC MARTINSON MR. MARTINSON SERVES AS PRESIDENT AND TRUSTEE OF QEL AND VICE PRESIDENT AND CHIEF INVESTMENT OFFICER OF QHS. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. JOHN NITAO MR. NITAO SERVES AS SECRETARY/GENERAL COUNSEL FOR QHS AND QMC AND SECRETARY/TRUSTEE OF QEL. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. WHITNEY LIMM, MD DR. LIMM SERVES AS SENIOR VP OF CLINICAL INTEGRATION AND CHIEF PHYSICIAN EXECUTIVE OF QHS AND QMC AND TRUSTEE OF QUMG. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. CYNTHIA KAMIKAWA MS. KAMIKAWA SERVES AS VP OF QHS AND AS PRESIDENT AND TRUSTEE OF QUEEN'S NORTH HAWAII COMMUNITY HOSPITAL. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR ALL SERVICES. JANICE KALANIHUIA MS. KALANIHUIA SERVES AS VP FOR THE QUEEN'S HEALTH SYSTEMS AND PRESIDENT OF MGH. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR ALL SERVICES. CLINTON YEE MR. YEE SERVES AS CORPORATE CONTROLLER OF QUEEN'S HEALTH SYSTEMS, ASSISTANT TREASURER OF QMC AND QHS AND TREASURER OF MGH. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR ALL SERVICES. KAZUMA NAKAGAWA, MD DR. NAKAGAWA SERVES AS A TRUSTEE FOR QHS, QMC AND QUMG. HE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HIS TOTAL COMPENSATION FOR SERVICES AS MEDICAL DIRECTOR, COMPREHENSIVE STROKE CENTER FOR QUMG. KATHLEEN MAH, MD DR. MAH SERVES AS A TRUSTEE FOR QHS. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR SERVICES AS MEDICAL DIRECTOR, SURGICAL SERVICES FOR QUMG. NADINE TENN SALLE, MD DR. SALLE SERVES AS A TRUSTEE FOR QHS AND QMC. SHE IS A VOLUNTEER TRUSTEE AND IS NOT SEPARATELY COMPENSATED FOR THESE SERVICES. THE COMPENSATION LISTED IS HER TOTAL COMPENSATION FOR SERVICES AS CHIEF OF PEDIATRICS FOR QUMG.

SCHEDULE J, PART II & FORM 990, PART VII

SCHEDULE J, PART I, LINE 4A

THE TERMS OF THE SEVERANCE AGREEMENTS ARE SUBJECT TO A NON-DISCLOSURE AGREEMENT.

Related partnerships

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

• HAMAMATSUQUEEN'S PET IMAGING

  N/A · PET IMAGING · HI

  Directly controlled by NA

• PRIMARY CARE PHYSICIAN ENTERPRISE LLC

  N/A · MEDICAL SERVICES · HI

  Directly controlled by NA

Related corporations and trusts

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

• QUEEN'S DEVELOPMENT CORPORATION

  C Corp · DEVELOPMENT · HI · 100% owned · controlled entity

  Directly controlled by QHS

• QUEEN'S INSURANCE EXCHANGE

  C Corp · INSURANCE · HI · 100% owned · share of income $518,332 · share of assets $40,159,554 · controlled entity

  Directly controlled by QHS

• DIAGNOSTIC LABORATORY SERVICES INC

  C Corp · MEDICAL LAB SVCS · HI · controlled entity

  Directly controlled by NA