Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $76,386

• 2a · Program service revenue: NET PATIENT SERVICE REVENUE

  total $196,557,659 · related or exempt $196,557,659

• 2b · Program service revenue: PHARMACY

  total $2,417,529 · related or exempt $2,417,529

• 2c · Program service revenue: OTHER RELATED SERVICES

  total $983,662 · related or exempt $983,662

• 2d · Program service revenue: CAFETERIA

  total $407,101 · related or exempt $407,101

• 3 · Investment income

  total $3,791 · excluded $3,791

• 6a · Gross rents

  real property $5,626,144

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $5,626,144

• 6d · Net rental income or loss

  total $5,626,144 · excluded $5,626,144

• 7a · Gross sales of assets other than inventory

  other assets $40,248

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

  other assets $0

• 7c · Gain or loss

  other assets $40,248

• 7d · Net gain or loss

  total $40,248 · excluded $40,248

• 10a · Gross sales of inventory

  $36,156

• 10b · Cost of goods sold

  $11,607

• 10c · Net income from sales of inventory

  total $24,549 · excluded $24,549

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,268,190 · program services $40,329 · management and general $1,227,861

• 6 · Compensation of disqualified persons

  total $4,332,977 · program services $4,332,977

• 7 · Other salaries and wages

  total $43,844,973 · program services $43,844,973

• 8 · Pension plan contributions

  total $1,074,818 · program services $1,074,818

• 9 · Other employee benefits

  total $5,888,494 · program services $5,888,494

• 10 · Payroll taxes

  total $3,024,888 · program services $3,024,888

• 11a · Fees: management

  total $385,139 · program services $385,139

• 11b · Fees: legal

  total $2,843,211 · management and general $2,843,211

• 11c · Fees: accounting

  total $55,667 · management and general $55,667

• 11d · Fees: lobbying

  total $123,970 · management and general $123,970

• 11g · Fees: other

  total $54,919,632 · program services $34,204,631 · management and general $20,715,001

• 12 · Advertising and promotion

  total $533,061 · management and general $533,061

• 13 · Office expenses

  total $2,904,981 · program services $2,805,312 · management and general $99,669

• 16 · Occupancy

  total $1,849,808 · program services $1,733,190 · management and general $116,618

• 17 · Travel

  total $108,945 · program services $107,880 · management and general $1,065

• 20 · Interest

  total $2,164,766 · program services $2,164,766

• 22 · Depreciation, depletion and amortization

  total $9,397,574 · program services $9,388,158 · management and general $9,416

• 23 · Insurance

  total $920,396 · program services $905,334 · management and general $15,062

• 24a · Other expenses: MEDICAL SUPPLIES

  total $41,218,493 · program services $41,218,493

• 24b · Other expenses: BAD DEBT EXPENSE

  total $10,525,395 · program services $10,525,395

• 24c · Other expenses: RECRUITMENT

  total $352,227 · program services $44,154 · management and general $308,073

• 24d · Other expenses: MISCELLANEOUS EXPENSE

  total $47,684 · program services $41,779 · management and general $5,905

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,500 · end of year $3,500

• 2 · Savings and temporary cash investments

  beginning of year $30,942 · end of year $23,972

• 4 · Accounts receivable

  beginning of year $32,378,681 · end of year $30,385,955

• 8 · Inventories for sale or use

  beginning of year $3,440,190 · end of year $3,453,489

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,818,435 · end of year $3,844,449

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

  $309,518,168

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

  $129,835,885

• 10c · Land, buildings and equipment, net

  beginning of year $171,784,042 · end of year $179,682,283

• 11 · Investments: publicly traded securities

  beginning of year $1,000,000 · end of year $1,000,000

• 15 · Other assets

  beginning of year $114,666,566 · end of year $140,925,173

• 17 · Accounts payable and accrued expenses

  beginning of year $13,330,952 · end of year $13,026,426

• 20 · Tax-exempt bond liabilities

  beginning of year $91,280,744 · end of year $107,622,792

• 25 · Other liabilities

  beginning of year $4,577,000 · end of year $3,384,163

• 27 · Net assets without donor restrictions

  beginning of year $216,902,172 · end of year $235,253,952

• 28 · Net assets with donor restrictions

  beginning of year $31,488 · end of year $31,488

The filer's explanations (Part III)

PART I, LINE 4B

ALL ELC MEMBERS (BRUCE BAILEY, GAYLE RESETAR, BETH WARD, PHILIP DULBERGER, & GERALD HARMON) WERE ENROLLED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN BEGINNING 10/1/2018. BRUCE, BETH, GAYLE & PHIL ARE ENROLLED IN A SPLIT DOLLAR LIFE INSURANCE PLAN. DR. HARMON RECEIVES A RETENTION BONUS EACH YEAR (INCLUDED IN COMPENSATION). JEREMY STEPHENS HAS BEEN ENROLLED IN THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN BEGINNING WITH FISCAL YEAR 2024. THE ORGANIZATION DEPOSITED FUNDS INTO A LIFE INSURANCE POLICY ON THE PARTICIPANT'S LIFE. DURING LIFE, AND SUBJECT TO THE POLICY GENERATING SUFFICIENT VALUES, THE PARTICIPANT CAN BORROW FROM THE POLICY. AT DEATH, THE ORGANIZATION RECOVERS ITS PREMIUMS PLUS INTEREST PLUS ADDITIONAL KEY-PERSON INSURANCE PROCEEDS.

PART I, LINE 5

INCENTIVE COMPENSATION PAID TO NON-PHYSICIAN LEADERSHIP/EXECUTIVES IS CONTINGENT UPON QUALITY INDICATORS, NET REVENUES, AND THE OVERALL PROFITABILITY OF THE ORGANIZATION. INCENTIVE COMPENSATION PAID TO PHYSICIANS AND PHYSICIAN LEADERSHIP IS BASED ON PRODUCTION AND QUALITY INDICATORS. PHYSICIAN INCENTIVE COMPENSATION DOES NOT INCLUDE INCOME RELATED METRICS. IF PREDETERMINED GOALS ARE MET, INCENTIVE COMPENSATION IS PAID IN ACCORDANCE WITH AN INCENTIVE COMPENSATION PROGRAM. SEE PART II, COLUMN (B)(II).

PART I, LINE 6

SEE THE RESPONSE TO LINE 5A AND 5B.

PART I, LINE 3

THE ORGANIZATION RELIES ON THE BOARD OF ITS SOLE MEMBER ORGANIZATION TO NEGOTIATE AND ESTABLISH THE COMPENSATION AGREEMENTS FOR ITS CEO AND OTHER OFFICERS. THE BOARD OF GEORGETOWN HOSPITAL SYSTEM USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANTS - COMPENSATION STUDY/SURVEY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE THE BOARD OF GEORGETOWN HOSPITAL SYSTEM IS A MAJORITY INDEPENDENT.

PART II

THE ORGANIZATION UTILIZES A COMMON PAYING AGENT FOR SERVICES PERFORMED FOR BOTH WACCAMAW COMMUNITY HOSPITAL AND A RELATED ORGANIZATION. COMPENSATION FOR THESE INDIVIDUALS IS PRESENTED TO REFLECT AN ALLOCATION OF SERVICES PERFORMED FOR THESE ORGANIZATIONS.

Related partnerships

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

• GEORGETOWN RADIATION THERAPY CENTER

  HEALTHCARE · SC

• TIDELANDS AND MEDQUEST JOINT VENTURE LLC

  IMAGING · SC