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Nonprofiteer
← FRANKLIN SQUARE HOSPITAL CENTER INC

Form 990 for tax year 2023

Filed by FRANKLIN SQUARE HOSPITAL CENTER INC.

Totals

Total revenue
$613,099,602
Total expenses
$597,880,603
Contributions and grants received
$12,960,981
Grants paid
$161,323
Program service revenue
$597,759,992
Investment income
$180,127
Other revenue
$2,198,502
Total assets, end of year
$341,971,137
Total liabilities, end of year
$66,537,538
Net assets or fund balances, end of year
$275,433,599
Program services expenses (Part IX)
$501,314,751
Management and general expenses
$96,565,852
Fundraising expenses
$0
Program service expenses (Part III)
$501,314,751

Program services were 83.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $12,089,993

  • 1f · All other contributions, gifts and grants

    $870,988

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

    total $588,001,408 · related or exempt $588,001,408

  • 2b · Program service revenue: PHARMACY

    total $9,744,039 · related or exempt $9,744,039

  • 2c · Program service revenue: OTHER HEALTH REVENUE

    total $14,545 · related or exempt $14,545

  • 3 · Investment income

    total $105,116 · excluded $105,116

  • 6a · Gross rents

    real property $538,131

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $538,131

  • 6d · Net rental income or loss

    total $538,131 · excluded $538,131

  • 7a · Gross sales of assets other than inventory

    securities $75,011

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

    securities $0

  • 7c · Gain or loss

    securities $75,011

  • 7d · Net gain or loss

    total $75,011 · excluded $75,011

  • 11a · Other revenue: REBATE INCOME

    total $933,514 · excluded $933,514

  • 11b · Other revenue: PARKING AND VALET REVE

    total $386,111 · excluded $386,111

  • 11c · Other revenue: INTERCOMPANY REVENUE

    total $189,256 · excluded $189,256

  • 11d · All other revenue

    total $151,490 · excluded $151,490

  • 11e · Other revenue, total

    $1,660,371

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $136,154 · program services $136,154

  • 2 · Grants to domestic individuals

    total $25,169 · program services $25,169

  • 5 · Compensation of officers, directors and key employees

    total $2,192,088 · program services $2,020,287 · management and general $171,801

  • 6 · Compensation of disqualified persons

    total $213,730 · program services $197,267 · management and general $16,463

  • 7 · Other salaries and wages

    total $212,402,464 · program services $196,041,291 · management and general $16,361,173

  • 8 · Pension plan contributions

    total $3,171,443 · program services $2,927,242 · management and general $244,201

  • 9 · Other employee benefits

    total $28,007,346 · program services $24,901,679 · management and general $3,105,667

  • 10 · Payroll taxes

    total $13,026,132 · program services $12,975,170 · management and general $50,962

  • 11a · Fees: management

    total $58,563,816 · management and general $58,563,816

  • 11b · Fees: legal

    total $53,193 · management and general $53,193

  • 11g · Fees: other

    total $94,212,532 · program services $84,476,975 · management and general $9,735,557

  • 12 · Advertising and promotion

    total $307,535 · program services $29,636 · management and general $277,899

  • 13 · Office expenses

    total $2,979,668 · program services $2,423,458 · management and general $556,210

  • 16 · Occupancy

    total -$1,308,155 · program services $116,155 · management and general -$1,424,310

  • 17 · Travel

    total $156,593 · program services $138,378 · management and general $18,215

  • 19 · Conferences, conventions and meetings

    total $31,273 · program services $19,912 · management and general $11,361

  • 20 · Interest

    total $8,810,668 · program services $8,810,668

  • 22 · Depreciation, depletion and amortization

    total $27,817,548 · program services $27,349,773 · management and general $467,775

  • 23 · Insurance

    total $9,950,899 · program services $8,979,279 · management and general $971,620

  • 24a · Other expenses: MED/SURG SUPPLIES

    total $90,966,326 · program services $91,000,557 · management and general -$34,231

  • 24b · Other expenses: MAINTENANCE

    total $12,734,567 · program services $12,582,608 · management and general $151,959

  • 24c · Other expenses: IMPLANTS/PROSTHESES

    total $12,143,004 · program services $12,143,004

  • 24d · Other expenses: UTILITIES

    total $6,018,074 · program services $5,074,798 · management and general $943,276

  • 24e · All other expenses

    total $15,268,536 · program services $8,945,291 · management and general $6,323,245

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,955 · end of year $34,209

  • 4 · Accounts receivable

    beginning of year $72,863,901 · end of year $83,851,016

  • 8 · Inventories for sale or use

    beginning of year $13,028,883 · end of year $15,097,215

  • 9 · Prepaid expenses and deferred charges

    beginning of year $875,296 · end of year $954,171

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

    $677,498,684

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

    $452,683,040

  • 10c · Land, buildings and equipment, net

    beginning of year $231,806,120 · end of year $224,815,644

  • 12 · Investments: other securities

    beginning of year $3,865,399 · end of year $4,269,058

  • 15 · Other assets

    beginning of year $8,535,563 · end of year $12,949,824

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,475,786 · end of year $29,533,156

  • 19 · Deferred revenue

    beginning of year $2,423,423 · end of year $2,312,743

  • 25 · Other liabilities

    beginning of year $33,121,163 · end of year $34,691,639

  • 27 · Net assets without donor restrictions

    beginning of year $260,673,342 · end of year $272,318,143

  • 28 · Net assets with donor restrictions

    beginning of year $3,290,403 · end of year $3,115,456

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

SEE SCHEDULE O MEDSTAR FRANKLIN SQUARE MEDICAL CENTER, A MEMBER OF MEDSTAR HEALTH, PROVIDES THE HIGHEST QUALITY HEALTHCARE AND EDUCATION TO OUR COMMUNITIES.

  • SEE SCHEDULE OMEDSTAR FRANKLIN SQUARE'S LARGEST PROGRAM IS ACCESS TO AND THE PROVISION OF ACUTE HOSPITAL SERVICES TO THE COMMUNITIES OF EASTERN BALTIMORE COUNTY, MARYLAND AND THE SURROUNDING AREAS. IN ADDITION TO THE PROGRAM SERVICE EXPENSES LISTED ABOVE, MEDSTAR FRANKLIN SQUARE INCURRED $96.6M OF MANAGEMENT AND GENERAL EXPENSES IN PROVIDING SERVICES TO ITS COMMUNITIES. AS A TERTIARY CENTER IN NORTHEAST BALTIMORE, MEDSTAR FRANKLIN SQUARE CONTINUES TO RECRUIT NEUROLOGY, ONCOLOGY, AND INTEGRATED SURGICAL SERVICE EXPERTS. MEDSTAR FRANKLIN SQUARE IS PROUD TO HAVE BEEN RE-ACCREDITED WITH THE JOINT COMMISSION'S GOLD SEAL OF APPROVAL FOR OUR COMMITMENT TO PROVIDING SAFE AND QUALITY PATIENT CARE. THE AMERICAN NURSES CREDENTIALING CENTER (ANCC) ALSO RE-DESIGNATED MEDSTAR FRANKLIN SQUARE AS MAGNET FOR EXCELLENCE IN NURSING, MAKING MEDSTAR FRANKLIN SQUARE ONE OF THE ONLY HOSPITALS IN MARYLAND TO BE RECOGNIZED FOUR TIMES IN A ROW. MEDSTAR FRANKLIN SQUARE HAS EARNED SOME OF THE REGION'S AND NATION'S MOST PRESTIGIOUS HONORS AND, INCLUDING: THE AMERICAN HEART ASSOCIATION'S "MISSION: LIFELINE - STEMI RECEIVING CENTER" GOLD AWARD, THE AMERICAN HEART ASSOCIATION/AMERICAN STROKE ASSOCIATION'S "GET WITH THE GUIDELINES" STROKE GOLD PLUS ACHIEVEMENT AWARD WITH TARGET: STROKE HONOR ROLL ELITE PLUS, ADVANCED THERAPY AND TARGET: TYPE 2 DIABETES HONOR ROLL IN ADDITION, BALTIMORE MAGAZINE RECOGNIZED 83 MEDSTAR HEALTH PHYSICIANS AS "TOP DOCTORS" IN NOVEMBER 2024 AND BALTIMORE MAGAZINE RECOGNIZED EIGHT MEDSTAR FRANKLIN SQUARE NURSES FOR EXCELLENCE IN NURSING IN MAY 2024. US NEWS & WORLD REPORT ALSO RECOGNIZED MEDSTAR FRANKLIN SQUARE AS HIGH PERFORMING IN HEART FAILURE, DIABETES CARE, STROKE, CHRONIC OBSTRUCTIVE PULMONARY DISEASE, AND LUNG CANCER SURGERY AND PRACTICE GREENHEALTH ENVIRONMENTAL EXCELLENCE AWARD WINNER.

    Expenses $421,173,094 · Grants $161,323 · Revenue $556,363,507

  • MEDSTAR FRANKLIN SQUARE PROVIDED $60.8M IN SUBSIDIZED (MISSION DRIVEN) HEALTH SERVICES IN FISCAL YEAR 2024. THESE CRITICAL SERVICES, WHICH ARE DRIVEN BY COMMUNITY NEEDS, OPERATE AT A LOSS. THEY ADDRESS PRIORITIES PRIMARILY THROUGH DISEASE PREVENTION AND IMPROVEMENT OF HEALTH STATUS. SERVICES INCLUDE EMERGENCY MEDICINE; WOMEN'S AND CHILDREN'S HEALTH, AND BEHAVIORAL HEALTH.

    Expenses $60,792,591 · Revenue $41,396,485

  • MEDSTAR FRANKLIN SQUARE PROVIDED $19.3M IN HEALTH PROFESSIONS EDUCATION IN FISCAL YEAR 2024. THIS CATEGORY INCLUDES TRAINING IN GRADUATE MEDICAL EDUCATION, AND EDUCATION FOR PHYSICIANS, MEDICAL STUDENTS, NURSES, AND OTHER HEALTH PROFESSIONS.

    Expenses $19,349,066

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KENNETH A SAMET

    DIRECTOR

    Total calculated
    $7,189,835
    From this org
    $0
    From related orgs
    $7,083,748
    Other
    $106,087
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,308,151 related
    Bonus
    $0 + $3,403,165 related
    Other
    $0 + $1,372,432 related
    Deferred
    $0 + $68,539 related
    Nontaxable benefits
    $0 + $37,548 related
    Filer's total
    $0 + $7,189,835 related

  • STUART M LEVINE MD

    PRESIDENT/DIRECTOR

    Total calculated
    $1,262,051
    From this org
    $1,217,764
    From related orgs
    $0
    Other
    $44,287
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $622,930
    Bonus
    $594,834
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $35,137
    Filer's total
    $1,262,051

  • NICOLA LONDON MD

    DIRECTOR

    Total calculated
    $643,751
    From this org
    $620,905
    From related orgs
    $0
    Other
    $22,846
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $457,938
    Bonus
    $162,967
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $13,696
    Filer's total
    $643,751

  • DIANA PANCU MD

    DIRECTOR & VP EMERG MED.

    Total calculated
    $542,601
    From this org
    $0
    From related orgs
    $510,388
    Other
    $32,213
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $418,969 related
    Bonus
    $0 + $91,419 related
    Other
    $0
    Deferred
    $0 + $9,150 related
    Nontaxable benefits
    $0 + $23,063 related
    Filer's total
    $0 + $542,601 related

  • MICHAEL P RODRIGUES MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CAROL L NICOLETTE ANTILL

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DENISE M MATRICCIANI

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ERIC C WASHINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HOWARD GOLDMAN MD

    DIRECTOR

    Total calculated
    $419,108
    From this org
    $0
    From related orgs
    $418,710
    Other
    $398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $238,699 related
    Bonus
    $0 + $2,739 related
    Other
    $0 + $177,272 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $398 related
    Filer's total
    $0 + $419,108 related

  • WILLIAM MCLAUGHLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARLA T OROS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL J BERNA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LESLIE R KAMINSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AIMAN SHAMMAS MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMARIS UMBAGER

    DIRECTOR (UNTIL 02/2024)

    Total calculated
    $0
    Hours/week
    1

  • CHUKWUMA EBO MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LISA PLOWFIELD PHD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEANA STOUT

    CFO/TREASURER

    Total calculated
    $598,495
    From this org
    $0
    From related orgs
    $565,600
    Other
    $32,895
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $381,181 related
    Bonus
    $0 + $184,419 related
    Other
    $0
    Deferred
    $0 + $9,150 related
    Nontaxable benefits
    $0 + $23,745 related
    Filer's total
    $0 + $598,495 related

  • LAUREN ROBINSON

    SECRETARY

    Total calculated
    $103,526
    From this org
    $83,640
    From related orgs
    $0
    Other
    $19,886
    Hours/week
    40

  • DAVID LISLE MD

    COLORECTAL SURGEON

    Total calculated
    $1,170,388
    From this org
    $1,151,133
    From related orgs
    $0
    Other
    $19,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $610,044
    Bonus
    $541,089
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $10,105
    Filer's total
    $1,170,388

  • ALAIN ABDO MD

    MEDICAL DOCTOR

    Total calculated
    $591,271
    From this org
    $559,068
    From related orgs
    $0
    Other
    $32,203
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $407,100
    Bonus
    $151,968
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $23,053
    Filer's total
    $591,271

  • NATHANIEL BARBO

    VP, OPERATIONS

    Total calculated
    $355,891
    From this org
    $338,133
    From related orgs
    $0
    Other
    $17,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,044
    Bonus
    $63,089
    Other
    $0
    Deferred
    $8,277
    Nontaxable benefits
    $9,481
    Filer's total
    $355,891

  • KATHY HENRY MD

    PHYSICIAN

    Total calculated
    $337,056
    From this org
    $308,452
    From related orgs
    $0
    Other
    $28,604
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,971
    Bonus
    $21,481
    Other
    $0
    Deferred
    $12,906
    Nontaxable benefits
    $15,698
    Filer's total
    $337,056

  • KIMBERLY SCHWENK MSN

    CNO

    Total calculated
    $290,173
    From this org
    $273,615
    From related orgs
    $0
    Other
    $16,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,159
    Bonus
    $30,456
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,558
    Filer's total
    $290,173

  • ROBERT LALLY

    VP, FINANCE/FORMER OFFICER

    Total calculated
    $213,730
    From this org
    $213,730
    From related orgs
    $0
    Other
    $0
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $9,348
    Bonus
    $0
    Other
    $204,382
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $213,730

  • KEITH SHINER

    FORMER OFFICER

    Total calculated
    $334,146
    From this org
    $0
    From related orgs
    $302,028
    Other
    $32,118
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,851 related
    Bonus
    $0 + $58,177 related
    Other
    $0
    Deferred
    $0 + $9,053 related
    Nontaxable benefits
    $0 + $23,065 related
    Filer's total
    $0 + $334,146 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, 1A:
HEALTH OR SOCIAL CLUB DUES: THE ORGANIZATION PAID SOCIAL CLUB DUES FOR ONE OF ITS OFFICERS. PARTICIPATION IN THESE ACTIVITIES BY THE OFFICER WAS FOR BUSINESS PURPOSES AND HELPED THE ORGANIZATION FURTHER ITS EXEMPT PURPOSE
SCHEDULE J, PART III
DETAILED BELOW ARE SEVERAL ONE-TIME PAYMENTS TO CERTAIN EXECUTIVES RELATED TO VARIOUS RETIREMENT, RETENTION AND LONG-TERM INCENTIVE PLANS. THESE PLANS AND PAYMENTS ARE NOT A ROUTINE PART OF THE TYPICAL MEDSTAR EXECUTIVE COMPENSATION PROGRAM, AND SUPPORTED IMPORTANT OBJECTIVES OF OUR ORGANIZATION. MR. SAMET'S OTHER REPORTABLE COMPENSATION IN PART II, COLUMN (B)(III) INCLUDES A PAYMENT OF $1,372,432, WHICH REPRESENTS THE CASH VALUE OF THE SPLIT DOLLAR LIFE INSURANCE POLICY ASSIGNED TO MR. SAMET. ROBERT LALLY'S COMPENSATION IS FOR SERVICES PREVIOUSLY PROVIDED AS CFO TO MEDSTAR FRANKLIN SQUARE MEDICAL CENTER, MEDSTAR HARBOR HOSPITAL, MEDSTAR ST. MARY'S HOSPITAL, AND MEDSTAR SOUTHERN MARYLAND HOSPITAL. ROBERT LALLY'S OTHER REPORTABLE COMPENSATION IN PART II, COLUMN (B)(III) INCLUDES $204,382 REPRESENTING SEVERANCE PAYMENTS RECEIVED BY MR. LALLY. DR. GOLDMAN'S OTHER REPORTABLE COMPENSATION IN PART II, COLUMN (B)(III) INCLUDES $169,000 REPRESENTING A SIGN-ON BONUS. DEANA STOUT'S COMPENSATION IS FOR SERVICES PROVIDED AS CFO/TREASURER AT MEDSTAR HARBOR HOSPITAL, MEDSTAR FRANKLIN SQUARE MEDICAL CENTER, MEDSTAR GOOD SAMARITAN HOSPITAL AND MEDSTAR UNION MEMORIAL HOSPITAL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202521299349302497

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