Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ALLOCATED CORP SVC REV

  total $118,583,988 · related or exempt $118,583,988

• 3 · Investment income

  total $778,273 · excluded $778,273

• 7a · Gross sales of assets other than inventory

  other assets $35,019,807

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

  other assets $31,699,615

• 7c · Gain or loss

  other assets $3,320,192

• 7d · Net gain or loss

  total $3,320,192 · excluded $3,320,192

• 11a · Other revenue: CO-OP DISTRIBUTION

  total $1,322,011 · related or exempt $1,322,011

• 11b · Other revenue: SECURITY

  total $259,656 · related or exempt $259,656

• 11c · Other revenue: MEDICAL RECORD INCOME

  total $93,073 · related or exempt $93,073

• 11d · All other revenue

  total $36,546 · related or exempt $36,213 · excluded $333

• 11e · Other revenue, total

  $1,711,286

Functional expenses

Part IX, the statement of functional expenses.

• 11c · Fees: accounting

  total $469,362 · management and general $469,362

• 11d · Fees: lobbying

  total $79,665 · management and general $79,665

• 11g · Fees: other

  total $14,502,142 · program services $8,990,577 · management and general $5,511,565

• 12 · Advertising and promotion

  total $1,022,883 · management and general $1,022,883

• 13 · Office expenses

  total $2,785,628 · management and general $2,785,628

• 14 · Information technology

  total $22,069,365 · program services $21,848,434 · management and general $220,931

• 16 · Occupancy

  total $3,415,879 · program services $2,808,077 · management and general $607,802

• 17 · Travel

  total $39,910 · management and general $39,910

• 23 · Insurance

  total $1,062,857 · program services $1,046,584 · management and general $16,273

• 24a · Other expenses: ALLOCATED SALARIES

  total $53,069,282 · program services $51,284,097 · management and general $1,785,185

• 24b · Other expenses: ALLOCATED BENEFITS

  total $14,693,324 · program services $14,199,059 · management and general $494,265

• 24c · Other expenses: EQUIP. MAINT. CONTRACTS

  total $2,493,067 · program services $2,493,067

• 24d · Other expenses: DUES

  total $931,263 · program services $107,929 · management and general $823,334

• 24e · All other expenses

  total $4,084,538 · program services $13,507 · management and general $4,071,031

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,218,708 · end of year $7,332,515

• 4 · Accounts receivable

  beginning of year $0 · end of year $300,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,310,360 · end of year $4,588,285

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

  $321,400

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

  $69,952

• 10c · Land, buildings and equipment, net

  beginning of year $244,673 · end of year $251,448

• 11 · Investments: publicly traded securities

  beginning of year $52,667,549 · end of year $24,434,077

• 15 · Other assets

  beginning of year $13,906,139 · end of year $33,943,839

• 17 · Accounts payable and accrued expenses

  beginning of year $13,928,945 · end of year $7,023,896

• 25 · Other liabilities

  beginning of year $56,703 · end of year $124,747

• 27 · Net assets without donor restrictions

  beginning of year $54,467,279 · end of year $60,301,330

• 28 · Net assets with donor restrictions

  beginning of year $2,894,502 · end of year $3,400,191

The filer's explanations (Part III)

PART I, LINE 3

THE PRESIDENT/CEO OF SSHS RECEIVES COMPENSATION FOR SERVICES PERFORMED FOR A RELATED ORGANIZATION. SOUTH SHORE HEALTH SYSTEM HAS A COMPENSATION COMMITTEE THAT MEETS PERIODICALLY AND ENGAGES AN INDEPENDENT EXTERNAL COMPENSATION CONSULTING FIRM TO ESTABLISH THE COMPENSATION OF THE CEO AND OTHER KEY EMPLOYEES. THE CONSULTING FIRM DEVELOPS AND PRESENTS ALL MATERIALS INCLUDING MARKET TRENDS, COMPENSATION STUDIES AND SURVEYS, AND ADHERES TO BEST PRACTICES GUIDELINES. THE FINAL RECOMMENDATION FOR COMPENSATION CHANGES IS PRESENTED AND APPROVED BY THE ENTIRE INDEPENDENT COMMUNITY OF THE SYSTEM'S BOARD OF DIRECTORS.

PART I, LINE 4A

KRISTINE HANSCOM, FORMER TREASURER, RECEIVED $586,000 IN SEVERANCE IN CALENDAR YEAR 2023.

Related corporations and trusts

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

• SOUTH SHORE HEALTH INTEGRATED DELIVERY NETWORK INC

  C · TO DEVELOP & MAINTAIN A NETWORK OF PROVIDERS FOR DELIVERY OF HEALTHCARE SERV · MA · 100% owned · share of income $4,557,265 · share of assets $15,773,870 · controlled entity

  Directly controlled by SOUTH SHORE HEALTH SYSTEM INC