Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,521,243

• 1f · All other contributions, gifts and grants

  $11,959

• 2a · Program service revenue: Patient Revenue

  total $209,922,079 · related or exempt $209,922,079

• 2b · Program service revenue: Rent to Related Org

  total $641,697 · related or exempt $641,697

• 2c · Program service revenue: Hosp Residency Program

  total $625,961 · related or exempt $625,961

• 2d · Program service revenue: Lab Outreach Revenue

  total $54,119 · unrelated business $54,119

• 2e · Program service revenue: O/P Rehab Revenue

  total $3,240 · related or exempt $3,240

• 3 · Investment income

  total $4,464,798 · excluded $4,464,798

• 6a · Gross rents

  real property $1,339,841

• 6b · Less rental expenses

  real property $891,780

• 6c · Rental income or loss

  real property $448,061

• 6d · Net rental income or loss

  total $448,061 · excluded $448,061

• 7a · Gross sales of assets other than inventory

  other assets $50,065

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

  other assets $11,755

• 7c · Gain or loss

  other assets $38,310

• 7d · Net gain or loss

  total $38,310 · related or exempt $38,310

• 11a · Other revenue: Cafeteria/Vending

  total $576,990 · excluded $576,990

• 11b · Other revenue: Diabetes Center

  total $67,394 · excluded $67,394

• 11c · Other revenue: Auxiliary Rec

  total $35,424 · excluded $35,424

• 11d · All other revenue

  total $66,037 · related or exempt $73 · unrelated business $207 · excluded $65,757

• 11e · Other revenue, total

  $745,845

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $106,900 · program services $106,900

• 5 · Compensation of officers, directors and key employees

  total $1,094,231 · management and general $1,094,231

• 7 · Other salaries and wages

  total $49,314,022 · program services $38,317,068 · management and general $10,996,954

• 8 · Pension plan contributions

  total $1,277,956 · program services $964,104 · management and general $313,852

• 9 · Other employee benefits

  total $7,704,042 · program services $4,519,837 · management and general $3,184,205

• 10 · Payroll taxes

  total $2,907,659 · program services $2,742,512 · management and general $165,147

• 11b · Fees: legal

  total $167,827 · management and general $167,827

• 11f · Fees: investment management

  total $244,282 · program services $196,673 · management and general $47,609

• 11g · Fees: other

  total $55,096,771 · program services $45,468,620 · management and general $9,628,151

• 12 · Advertising and promotion

  total $173,287 · program services $23,056 · management and general $150,231

• 13 · Office expenses

  total $1,049,721 · program services $997,194 · management and general $52,527

• 14 · Information technology

  total $2,472,468 · program services $2,391,507 · management and general $80,961

• 16 · Occupancy

  total $3,314,989 · program services $3,272,663 · management and general $42,326

• 17 · Travel

  total $226,225 · program services $214,791 · management and general $11,434

• 20 · Interest

  total $2,349,567 · program services $2,343,554 · management and general $6,013

• 22 · Depreciation, depletion and amortization

  total $12,067,710 · program services $11,496,040 · management and general $571,670

• 23 · Insurance

  total $512,791 · program services $488,144 · management and general $24,647

• 24a · Other expenses: Taxes - UBIT

  total $2,500 · management and general $2,500

• 24b · Other expenses: Medical Supplies

  total $35,125,590 · program services $35,125,590

• 24c · Other expenses: Support Services

  total $4,499,096 · management and general $4,499,096

• 24d · Other expenses: Maintenance

  total $3,983,147 · program services $3,927,599 · management and general $55,548

• 24e · All other expenses

  total $2,300,562 · program services $1,704,849 · management and general $595,713

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,525 · end of year $3,525

• 2 · Savings and temporary cash investments

  beginning of year $26,664 · end of year $70,781

• 4 · Accounts receivable

  beginning of year $17,581,169 · end of year $20,968,341

• 7 · Other notes and loans receivable

  beginning of year $889,373 · end of year $988,639

• 8 · Inventories for sale or use

  beginning of year $2,790,707 · end of year $2,941,058

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,835,712 · end of year $2,502,427

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

  $270,249,519

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

  $173,379,621

• 10c · Land, buildings and equipment, net

  beginning of year $105,656,762 · end of year $96,869,898

• 11 · Investments: publicly traded securities

  beginning of year $154,924,956 · end of year $131,845,917

• 14 · Intangible assets

  beginning of year $35,200 · end of year $35,200

• 15 · Other assets

  beginning of year $16,141,466 · end of year $60,343,158

• 17 · Accounts payable and accrued expenses

  beginning of year $15,209,349 · end of year $16,174,758

• 24 · Unsecured notes and loans payable

  beginning of year $147,579,761 · end of year $126,496,938

• 25 · Other liabilities

  beginning of year $6,601,426 · end of year $5,351,927

• 27 · Net assets without donor restrictions

  beginning of year $133,494,998 · end of year $168,545,321

The filer's explanations (Part III)

Part I, Lines 4a-b

The following executives participated in a 457(f) retirement plan provided by Ballad Health. The 457(f) plan is a non-qualified tax-deferred compensation plan available to a select group of key executives for the intent of supporting retention and to offer a competitive total retirement program. Account balances have a "substantial risk of forfeiture". In addition to creditor risk, substantial risk of forfeiture is created through default risk if the participant's employment with Ballad is terminated prior to age 65. However, the 457(f) plan contains a non-compete provision that provides the account balance to be paid in a lump sum after the executive satisfies the two-year non-compete period. This provision applies to employer contributions if the executive has provided eligible service for six or more years. The executive will receive the entire account balance if he/she becomes disabled, dies or if the executive terminates for "good reason or is involuntarily terminated without "good cause" within a 24 month period after a change-of-control occurs. Distributions from this plan are subject to federal, state, and local taxes on the entire account balance upon distribution. Alan Levine $214,191 Eric Deaton $ 78,933 Julie Bennett $ 41,515 Shane Hilton $ 50,175 Lynn Krutak $ 70,942 Andrew Wampler $ 25,902 The following executive received a change-of-control payment. The payment was reported as taxable income with appropriate tax withheld and remitted to the IRS. Tim Belisle $161,641

Related partnerships

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

• Emmaus Community Healthcare PLLC

  Medical Services · TN

• Medical Specialists of JC LLC

  Medical Services · TN

• East Tennessee Ambulatory Surgery Center

  Medical Services · TN

• Quality Improvement Ptrs LLC

  Healthcare · TN

Related corporations and trusts

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

• Ballad Health Development Corporation

  C · Investments · TN

• Ballad Ventures LLC

  C · Investments · TN

• Blue Ridge Medical Management Corp

  C · Medical Services · TN

• Community Home Care Inc

  C · Durable Medical Equipment · VA

• Mediserve Medical Equipment of Kingsport Inc

  C · Durable Medical Equipment · TN

• Mountain States Physician Grp Inc

  C · Medical Services · TN

• Mountain States Properties Inc

  C · Property Management · TN

• Nolichuckey Management Svcs Inc

  C · Medical Services · TN

• Wellmont Health Services Inc

  C · Medical Services · TN

• Wellmont Insurance Co SPC LTD

  C · Insurance · CJ

• Wellmont Physician Services Inc

  C · Medical Services · TN

• Wellmont Inc

  C · Medical Services · TN

• Wilson Pharmacy Inc

  C · Pharmacy · TN

• WPS Providers Inc

  C · Medical Services · TN