Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Management Services

  total $1,324,914 · related or exempt $1,324,914

• 2b · Program service revenue: Rental Income

  total $931,633 · related or exempt $931,633

• 2c · Program service revenue: Miscellaneous Revenue

  total $97,358 · related or exempt $97,358

• 3 · Investment income

  total $112,586 · excluded $112,586

• 7a · Gross sales of assets other than inventory

  securities $481,132 · other assets $98,201

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

  securities $349,580 · other assets $70,353

• 7c · Gain or loss

  securities $131,552 · other assets $27,848

• 7d · Net gain or loss

  total $159,400 · excluded $159,400

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $610,634 · program services $543,986 · management and general $66,648

• 7 · Other salaries and wages

  total $136,247 · program services $121,376 · management and general $14,871

• 8 · Pension plan contributions

  total $90 · program services $80 · management and general $10

• 9 · Other employee benefits

  total $60,546 · program services $53,938 · management and general $6,608

• 10 · Payroll taxes

  total $9,663 · program services $8,608 · management and general $1,055

• 11b · Fees: legal

  total $8,568 · management and general $8,568

• 11c · Fees: accounting

  total $50,000 · management and general $50,000

• 11f · Fees: investment management

  total $26,630 · management and general $26,630

• 11g · Fees: other

  total $204,982 · program services $182,609 · management and general $22,373

• 12 · Advertising and promotion

  total $105,183 · management and general $105,183

• 13 · Office expenses

  total $12,852 · program services $11,449 · management and general $1,403

• 16 · Occupancy

  total $5,812 · program services $5,178 · management and general $634

• 17 · Travel

  total $1,145 · program services $1,020 · management and general $125

• 20 · Interest

  total $565,100 · management and general $565,100

• 22 · Depreciation, depletion and amortization

  total $634,474 · program services $547,676 · management and general $86,798

• 23 · Insurance

  total $53,181 · management and general $53,181

• 24a · Other expenses: Miscellaneous

  total $306,534 · program services $20,791 · management and general $285,743

• 24b · Other expenses: Dues and Subscriptions

  total $36,356 · program services $32,388 · management and general $3,968

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 $763,842 · end of year $968,070

• 3 · Pledges and grants receivable

  beginning of year $6,659 · end of year $6,659

• 4 · Accounts receivable

  beginning of year $6,492 · end of year $2,916

• 9 · Prepaid expenses and deferred charges

  beginning of year $34,196 · end of year $22,302

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

  $38,374,818

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

  $35,552,264

• 10c · Land, buildings and equipment, net

  beginning of year $6,358,407 · end of year $2,822,554

• 11 · Investments: publicly traded securities

  beginning of year $4,531,563 · end of year $5,532,432

• 12 · Investments: other securities

  beginning of year $12,950 · end of year $12,950

• 15 · Other assets

  beginning of year $20,854 · end of year $536

• 17 · Accounts payable and accrued expenses

  beginning of year $122,424 · end of year $150,272

• 19 · Deferred revenue

  beginning of year $117,058 · end of year $117,058

• 23 · Secured mortgages and notes payable

  beginning of year $17,265,051 · end of year $16,910,910

• 25 · Other liabilities

  beginning of year $584,182 · end of year $630,193

• 27 · Net assets without donor restrictions

  beginning of year -$6,353,828 · end of year -$8,440,090

• 28 · Net assets with donor restrictions

  beginning of year $76 · end of year $76

The filer's explanations (Part III)

Part I, Line 3

The CEO's compensation amount is determined by a related organization, which uses a compensation committee, an independent consultant, a compensation survey or study, and approval by the VRHC Board or compensation committee to establish the CEO's compensation.

Form 990, Part VII, line 5:

Jocelyn F. Caple, Interim President & CEO, is paid by Mary Hitchcock Memorial Hospital, which was an unrelated organization until 7/31/2024, via a professional services agreement. During calendar year 2023, Valley Regional Healthcare paid Mary Hitchcock Memorial Hospital $396,945 for services rendered to Valley Regional Healthcare. Effective 7/31/2024, Dartmouth Hitchcock Health became the sole member of Valley Regional Healthcare and MHMH became a related organization to Valley Regional Healthcare. Pursuant to the instructions Ms. Caple's 2023 calendar year wages and benefits as paid by MHMH are reported as related organization compensation on Part VII and Schedule J. Celeste Pitts, Interim CFO, is paid by Helms & Co., an unrelated organization via a professional agreement. During calendar year 2023, Valley Regional Healthcare paid Helms & Co. $37,200 for services rendered to Valley Regional Healthcare. The actual compensation paid to Ms. Pitts by Helms & Co. is not known to the Organization. As such, pursuant to the Form 990 instructions, the Organization is reporting the amount paid for services rendered as compensation to Ms. Pitts, and is reporting this amount on Form 990, Part VII, Column E.

Related corporations and trusts

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

• Charitable Remainder Trusts (3)

  Charitable Trust · NH

  Directly controlled by Valley Regional Hospital Inc