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Nonprofiteer
← Monmouth Ocean Hospital Serv Corp

Form 990 for tax year 2022

Filed by Monmouth Ocean Hospital Serv Corp.

Totals

Total revenue
$1,647,571
Total expenses
$8,802,678
Contributions and grants received
$0
Grants paid
$7,145,984
Program service revenue
$739,318
Investment income
$216,631
Other revenue
$691,622
Total assets, end of year
$1,108,498
Total liabilities, end of year
$212,525
Net assets or fund balances, end of year
$895,973
Program services expenses (Part IX)
$7,381,326
Management and general expenses
$1,421,352
Fundraising expenses
$0
Program service expenses (Part III)
$7,381,326

Program services were 83.9% 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.

  • 2a · Program service revenue: BAD DEBT RECOVERY

    total $691,623 · related or exempt $691,623

  • 2b · Program service revenue: PROGRAM SERVICES

    total $47,695 · related or exempt $47,695

  • 3 · Investment income

    total $6,594 · excluded $6,594

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $212,543 · other assets -$2,506

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $212,543 · other assets -$2,506

  • 7d · Net gain or loss

    total $210,037 · excluded $210,037

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: RECOVERY OF SELF-INSURANCE PREMIUMS

    total $691,622 · related or exempt $691,622

  • 11e · Other revenue, total

    $691,622

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,145,984 · program services $7,145,984

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $120,943 · management and general $120,943

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $90,501 · management and general $90,501

  • 10 · Payroll taxes

    total $35,129 · management and general $35,129

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $18,607 · management and general $18,607

  • 11c · Fees: accounting

    total $25,028 · management and general $25,028

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $305,967 · program services $83,160 · management and general $222,807

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $91,713 · management and general $91,713

  • 14 · Information technology

    total $72 · management and general $72

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $42,097 · management and general $42,097

  • 17 · Travel

    total $418 · management and general $418

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $182 · management and general $182

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $40,082 · management and general $40,082

  • 23 · Insurance

    total $885,955 · program services $152,182 · management and general $733,773

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,382,445 · end of year $1,095,812

  • 2 · Savings and temporary cash investments

    beginning of year $71,548 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,247 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $735,546 · end of year $12,686

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,989,228 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $4,467,141 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $924,071 · end of year $212,525

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $296,514 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $8,427,570 · end of year $895,973

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO IMPROVE HEALTHCARE FOR THE 2.8 MILLION RESIDENTS WHO LIVE IN THE MORE THAN 1,800 SQUARE MILES OF NEW JERSEY'S NORTHERN, CENTRAL AND SOUTHERN SHORE AND REDUCE COSTS FOR THE FIFTEEN ACUTE CARE HOSPITALS WHO ARE MEMBERS OF THE HEALTHCARE CO-OPERATIVE.

Activities or mission (Part I)

To improve healthcare for the 2.8 million residents of New Jersey's northern, central and southern shore and reduce costs for the fifteen acute care hospitals who are members.

  • MICU Services - Mobile intensive care for patients on behalf of our member hospitals. Mobile intensive care involves paramedics providing advances life support services provided to patients regardless of their ability to pay. In 2022, 0 calls were made as operations ceased on 4/1/2020. Basic Life Support Calls involve emergency medical technicians treating patients for 911 and inter-facility ambulance service calls regardless of the patients' ability to pay. In 2022, 0 calls were made as operations ceased on 4/1/2020. MCCS Service - Inter-facility advanced life support calls are provided by a registered nurse, with advanced training and an emergency medical technician treating the most serious ambulance inter-facility transport service calls regardless of the patients' ability to pay. In 2022, 0 calls were made as operations ceased on 4/1/2020. Financial results reflect subsequent activity realized in 2022 during company dissolution process.

    Expenses $7,381,326 · Revenue $1,430,940

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brian Hector

    CFO

    Total calculated
    $252,721
    From this org
    $214,573
    From related orgs
    $0
    Other
    $38,148
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $214,573
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $38,148
    Filer's total
    $252,721

  • David Shotwell

    IN-HOUSE LEGAL OFFICER

    Total calculated
    $167,386
    From this org
    $157,091
    From related orgs
    $0
    Other
    $10,295
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $157,091
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,295
    Filer's total
    $167,386

  • John Doll

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Hand

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 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

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

9 distributions to recipients named as people, $7,145,985 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2023
IRS schema version
2022v5.0
Source object
202312489349300536

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