Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $4,809,982

• 1g · Noncash contributions included above

  $161,027

• 2a · Program service revenue: INPATIENT REVENUE

  total $209,705,254 · related or exempt $209,705,254

• 2b · Program service revenue: OUTPATIENT REVENUE

  total $191,293,639 · related or exempt $191,293,639

• 2c · Program service revenue: ALL OTHER PROGRAM SERVICE

  total $4,204,963 · related or exempt $4,204,963

• 2d · Program service revenue: COVID RELIEF FUNDS

  total $4,914,933 · related or exempt $4,914,933

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,190,647 · unrelated business $317,163 · excluded $2,873,484

• 6a · Gross rents

  real property $1,534,694

• 6c · Rental income or loss

  real property $1,534,694 · personal property $0

• 6d · Net rental income or loss

  total $1,534,694 · excluded $1,534,694

• 7a · Gross sales of assets other than inventory

  securities $36,368,707 · other assets $33,692

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

  securities $31,658,028

• 7c · Gain or loss

  securities $4,710,679 · other assets $33,692

• 7d · Net gain or loss

  total $4,744,371 · excluded $4,744,371

• 11a · Other revenue: CAFETERIA REVENUE

  total $1,095,478 · related or exempt $1,095,478

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $1,095,478

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $7,657,531 · management and general $7,657,531

• 7 · Other salaries and wages

  total $172,825,076 · program services $151,214,107 · management and general $21,333,403 · fundraising $277,566

• 8 · Pension plan contributions

  total $6,678,525 · program services $5,595,482 · management and general $1,072,772 · fundraising $10,271

• 9 · Other employee benefits

  total $18,792,806 · program services $15,884,281 · management and general $2,879,196 · fundraising $29,329

• 10 · Payroll taxes

  total $13,229,911 · program services $11,345,107 · management and general $1,864,728 · fundraising $20,076

• 11a · Fees: management

  total $2,028,419 · management and general $2,028,419

• 11b · Fees: legal

  total $883,268 · management and general $883,268

• 11c · Fees: accounting

  total $508,382 · management and general $508,382

• 11d · Fees: lobbying

  total $22,000 · management and general $22,000

• 11e · Fees: professional fundraising services

  total $46,000 · fundraising $46,000

• 11f · Fees: investment management

  total $411,756 · management and general $411,756

• 11g · Fees: other

  total $71,295,984 · program services $65,652,750 · management and general $5,630,047 · fundraising $13,187

• 12 · Advertising and promotion

  total $1,071,527 · program services $82,250 · management and general $741,729 · fundraising $247,548

• 13 · Office expenses

  total $7,546,756 · program services $5,584,328 · management and general $1,950,681 · fundraising $11,747

• 14 · Information technology

  total $15,097,037 · program services $14,957,138 · management and general $139,899

• 16 · Occupancy

  total $5,762,504 · program services $5,588,694 · management and general $173,810

• 17 · Travel

  total $62,914 · program services $38,615 · management and general $24,270 · fundraising $29

• 19 · Conferences, conventions and meetings

  total $86,882 · program services $53,326 · management and general $33,516 · fundraising $40

• 20 · Interest

  total $7,388,361 · program services $6,922,894 · management and general $450,690 · fundraising $14,777

• 22 · Depreciation, depletion and amortization

  total $28,530,400 · program services $20,273,699 · management and general $8,225,380 · fundraising $31,321

• 23 · Insurance

  total $2,065,307 · management and general $2,065,307

• 24a · Other expenses: SUPPLIES & COGS

  total $61,099,497 · program services $58,390,230 · management and general $2,705,830 · fundraising $3,437

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $16,061,772 · end of year $312,262

• 3 · Pledges and grants receivable

  beginning of year $4,569,636 · end of year $3,496,554

• 4 · Accounts receivable

  beginning of year $65,867,619 · end of year $81,940,928

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $8,414,116 · end of year $7,963,816

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,178,875 · end of year $6,460,634

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

  $692,753,287

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

  $429,886,850

• 10c · Land, buildings and equipment, net

  beginning of year $269,813,857 · end of year $262,866,437

• 11 · Investments: publicly traded securities

  beginning of year $171,510,402 · end of year $183,329,547

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $40,326,329 · end of year $41,880,204

• 15 · Other assets

  beginning of year $63,596,767 · end of year $77,388,639

• 17 · Accounts payable and accrued expenses

  beginning of year $71,328,462 · end of year $88,284,083

• 20 · Tax-exempt bond liabilities

  beginning of year $229,365,591 · end of year $226,574,232

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $10,000,000 · end of year $6,899,685

• 25 · Other liabilities

  beginning of year $50,641,049 · end of year $64,489,922

• 27 · Net assets without donor restrictions

  beginning of year $277,262,963 · end of year $273,922,317

• 28 · Net assets with donor restrictions

  beginning of year $7,741,308 · end of year $5,468,782

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

THE EXECUTIVE COMPENSATION PROGRAM IS DESIGNED TO CARRY OUT THE HEALTH SYSTEM MISSION, TO ACHIEVE THE CHARITABLE PURPOSE, TO ATTRACT, RETAIN, MOTIVATE AND REWARD EXECUTIVE MANAGEMENT, AND TO MAINTAIN A COMPETITIVE POSITION WITH PEER ORGANIZATIONS IN THE REGION. OVERSIGHT OF THE EXECUTIVE COMPENSATION PROGRAM IS PROVIDED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD, COMPOSED OF THE BOARD CHAIRMAN, VICE CHAIRMAN, IMMEDIATE PRECEDING CHAIRMAN, CHAIRMAN OF THE FINANCE COMMITTEE AND THE CHAIRMAN OF THE GOVERNANCE COMMITTEE. IN ADDITION TO THE BOARD'S COMPENSATION COMMITTEE, WE UTILIZED AN EXTERNAL INDEPENDENT CONSULTANT AND MARKET SURVEYS FOR ALL EXECUTIVE MANAGEMENT COMPENSATION. THE PRESIDENT AND CEO HAS A WRITTEN EMPLOYMENT CONTRACT.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

FREDERICK HEALTH HOSPITAL HAS ONE 457(F) NON QUALIFIED DEFERRED COMPENSATION PLAN FOR CERTAIN MEMBERS OF SENIOR MANAGEMENT. UNDER THE PLAN, THEY MAY CONTRIBUTE AMOUNTS FROM THEIR COMPENSATION TO THE PLAN AND MAY RECEIVE A DISCRETIONARY EMPLOYER CONTRIBUTION. EMPLOYEES ARE FULLY VESTED IN ALL EMPLOYEE CONTRIBUTIONS TO THE PLAN. VESTING IN EMPLOYER CONTRIBUTIONS OCCURS IN ACCORDANCE WITH THE UNDERLYING PLAN DOCUMENTS. ALL ASSETS OF THE PLAN ARE HELD IN A SEPARATE TRUST. TOTAL HOSPITAL CONTRIBUTIONS TO THIS PLAN WERE AS FOLLOWS: THOMAS A. KLEINHANZL $324,879 CHERYL L. CIOFFI $28,172 Hannah Jacobs - $40,658

Related corporations and trusts

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

• Frederick Health Services Corporation

  C Corporation · Health Care · MD · controlled entity

  Directly controlled by NA

• Monocacy Insurance LTD

  C Corporation · SELF INSURANCE · CJ · controlled entity

  Directly controlled by NA