Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $30,000

• 1f · All other contributions, gifts and grants

  $7,495

• 2a · Program service revenue: Medical Services

  total $66,672,012 · related or exempt $66,672,012

• 2b · Program service revenue: Retail Pharmacy

  total $4,781,515 · related or exempt $2,773,278 · unrelated business $2,008,237

• 2c · Program service revenue: Partnership income

  total $406,570 · unrelated business $406,570

• 2d · Program service revenue: Cafeteria/Records/Other

  total -$59,830 · related or exempt -$59,830

• 3 · Investment income

  total $1,911,544 · unrelated business $354,279 · excluded $1,557,265

• 7a · Gross sales of assets other than inventory

  securities $2,680,342

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

  securities $2,506,495

• 7c · Gain or loss

  securities $173,847

• 7d · Net gain or loss

  total $173,847 · excluded $173,847

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $89,238 · program services $89,238

• 5 · Compensation of officers, directors and key employees

  total $6,450 · management and general $6,450

• 7 · Other salaries and wages

  total $19,826,292 · program services $17,906,749 · management and general $1,842,668 · fundraising $76,875

• 8 · Pension plan contributions

  total $926,539 · program services $836,768 · management and general $85,244 · fundraising $4,527

• 9 · Other employee benefits

  total $3,613,556 · program services $3,137,835 · management and general $448,212 · fundraising $27,509

• 10 · Payroll taxes

  total $1,387,598 · program services $1,273,141 · management and general $109,453 · fundraising $5,004

• 11a · Fees: management

  total $2,776,784 · management and general $2,776,784

• 11b · Fees: legal

  total $30,420 · management and general $30,420

• 11c · Fees: accounting

  total $79,602 · management and general $79,602

• 11f · Fees: investment management

  total $97,565 · management and general $97,565

• 11g · Fees: other

  total $11,057,541 · program services $10,251,152 · management and general $806,389

• 12 · Advertising and promotion

  total $251,119 · management and general $251,119

• 13 · Office expenses

  total $913,388 · program services $772,864 · management and general $129,380 · fundraising $11,144

• 14 · Information technology

  total $1,015,765 · program services $97,616 · management and general $918,149

• 16 · Occupancy

  total $713,395 · program services $582,236 · management and general $130,555 · fundraising $604

• 17 · Travel

  total $138,693 · program services $76,201 · management and general $62,492

• 19 · Conferences, conventions and meetings

  total $128,420 · program services $126,110 · management and general $2,310

• 20 · Interest

  total $966,381 · program services $966,381

• 22 · Depreciation, depletion and amortization

  total $3,553,974 · program services $3,416,834 · management and general $137,140

• 23 · Insurance

  total $538,863 · program services $75,720 · management and general $463,143

• 24a · Other expenses: Medical supplies

  total $15,007,984 · program services $15,007,984

• 24b · Other expenses: Income tax expense

  total $412,580 · program services $412,580

• 24c · Other expenses: Repairs and Maintenance

  total $381,807 · program services $381,807

• 24d · Other expenses: Maintenance

  total $26,294 · management and general $26,294

• 24e · All other expenses

  total $1,120,371 · program services $113,743 · management and general $1,006,628

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $8,246,508 · end of year $16,522,825

• 4 · Accounts receivable

  beginning of year $13,526,782 · end of year $19,000,879

• 7 · Other notes and loans receivable

  beginning of year $5,475,000 · end of year $3,660,000

• 8 · Inventories for sale or use

  beginning of year $3,579,184 · end of year $3,946,112

• 9 · Prepaid expenses and deferred charges

  beginning of year $836,643 · end of year $774,872

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

  $77,348,234

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

  $30,972,551

• 10c · Land, buildings and equipment, net

  beginning of year $48,094,854 · end of year $46,375,683

• 11 · Investments: publicly traded securities

  beginning of year $6,547,810 · end of year $4,861,106

• 12 · Investments: other securities

  beginning of year $17,459,509 · end of year $18,092,862

• 15 · Other assets

  beginning of year $1,012,697 · end of year $765,049

• 17 · Accounts payable and accrued expenses

  beginning of year $3,289,696 · end of year $4,931,507

• 23 · Secured mortgages and notes payable

  beginning of year $22,579,526 · end of year $21,327,325

• 27 · Net assets without donor restrictions

  beginning of year $78,909,765 · end of year $87,740,556

The filer's explanations (Part III)

Part I, Line 3

CVMC has a management agreement with Rural Health Group, Inc. for the services of Mark Stoddard, CEO. Salary is determined through comparison to like executive positions. Salary and bonus are reviewed and approved by the compensation committee of the board of trustees of CVMC.

Part I, Line 5

A portion of the bonus received by Mark Stoddard, CEO, was based on the revenue net of contractual adjustments of Central Valley Medical Center. No other contingent payments were made.

Part I, Line 6

The Retail Pharmacy Manager receives a bonus based on net revenue generated by her department.

Related partnerships

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

• Mt Peak Development LLC

  Unrelated · Property Development · UT · 51% owned · share of income $1,091,565 · share of assets $6,090,794

  Directly controlled by Central Valley Medical Center