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Nonprofiteer
← BELOIT HEALTH SYSTEM INC

Form 990 for tax year 2023

Filed by BELOIT HEALTH SYSTEM INC.

Totals

Total revenue
$277,167,593
Total expenses
$273,155,219
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$269,037,749
Investment income
$3,183,992
Other revenue
$4,945,852
Total assets, end of year
$279,624,208
Total liabilities, end of year
$106,182,701
Net assets or fund balances, end of year
$173,441,507
Program services expenses (Part IX)
$230,645,645
Management and general expenses
$42,509,574
Fundraising expenses
$0
Program service expenses (Part III)
$230,645,645

Program services were 84.4% 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: Outpatient Service Revenue

    total $208,110,702 · related or exempt $208,110,702 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Inpatient Service Revenue

    total $60,927,047 · related or exempt $60,927,047 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $3,183,992 · related or exempt $0 · unrelated business $0 · excluded $3,183,992

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

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $531,528 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $531,528 · personal property $0

  • 6d · Net rental income or loss

    total $531,528 · related or exempt $0 · unrelated business $0 · excluded $531,528

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Wellness Center and Spa Revenue

    total $2,329,168 · related or exempt $0 · unrelated business $0 · excluded $2,329,168

  • 11b · Other revenue: Cafeteria and VIP Grille Revenue

    total $539,198 · related or exempt $0 · unrelated business $0 · excluded $539,198

  • 11d · All other revenue

    total $1,545,958 · related or exempt $0 · unrelated business $0 · excluded $1,545,958

  • 11e · Other revenue, total

    $4,414,324

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $7,692,822 · program services $4,128,005 · management and general $3,564,817 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $105,513,510 · program services $89,697,971 · management and general $15,815,539 · fundraising $0

  • 8 · Pension plan contributions

    total $3,030,981 · program services $2,512,092 · management and general $518,889 · fundraising $0

  • 9 · Other employee benefits

    total $24,153,976 · program services $19,933,619 · management and general $4,220,357 · fundraising $0

  • 10 · Payroll taxes

    total $7,040,544 · program services $5,835,238 · management and general $1,205,306 · fundraising $0

  • 11c · Fees: accounting

    total $119,300 · program services $0 · management and general $119,300 · fundraising $0

  • 11g · Fees: other

    total $21,785,050 · program services $20,444,315 · management and general $1,340,735 · fundraising $0

  • 12 · Advertising and promotion

    total $1,800,154 · program services $280,127 · management and general $1,520,027 · fundraising $0

  • 13 · Office expenses

    total $53,883,993 · program services $50,322,617 · management and general $3,561,376 · fundraising $0

  • 14 · Information technology

    total $8,345,104 · program services $6,916,464 · management and general $1,428,640 · fundraising $0

  • 16 · Occupancy

    total $6,209,519 · program services $4,496,846 · management and general $1,712,673 · fundraising $0

  • 17 · Travel

    total $255,907 · program services $206,416 · management and general $49,491 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $3,555,144 · program services $2,609,476 · management and general $945,668 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $8,926,215 · program services $7,646,505 · management and general $1,279,710 · fundraising $0

  • 23 · Insurance

    total $1,676,751 · program services $1,380,754 · management and general $295,997 · fundraising $0

  • 24a · Other expenses: Other Purchased Services

    total $7,055,288 · program services $3,344,451 · management and general $3,710,837 · fundraising $0

  • 24b · Other expenses: Equipment Rental and Maintenance

    total $5,947,235 · program services $5,409,057 · management and general $538,178 · fundraising $0

  • 24c · Other expenses: WI Provider Tax

    total $5,337,566 · program services $5,337,566 · management and general $0 · fundraising $0

  • 24d · Other expenses: Collections Expense

    total $419,124 · program services $0 · management and general $419,124 · fundraising $0

  • 24e · All other expenses

    total $407,036 · program services $144,126 · management and general $262,910 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,893 · end of year $7,993

  • 2 · Savings and temporary cash investments

    beginning of year $31,481,391 · end of year $23,021,240

  • 4 · Accounts receivable

    beginning of year $31,959,003 · end of year $36,348,142

  • 7 · Other notes and loans receivable

    beginning of year $2,926,344 · end of year $5,577,710

  • 8 · Inventories for sale or use

    beginning of year $6,823,475 · end of year $6,976,651

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,994,038 · end of year $1,462,500

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

    $291,873,474

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

    $169,929,251

  • 10c · Land, buildings and equipment, net

    beginning of year $117,741,280 · end of year $121,944,223

  • 11 · Investments: publicly traded securities

    beginning of year $74,568,848 · end of year $73,065,707

  • 14 · Intangible assets

    beginning of year $3,300,000 · end of year $3,300,000

  • 15 · Other assets

    beginning of year $7,242,876 · end of year $7,920,042

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,848,925 · end of year $31,694,137

  • 19 · Deferred revenue

    beginning of year $5,766,836 · end of year $6,690,923

  • 20 · Tax-exempt bond liabilities

    beginning of year $68,326,694 · end of year $64,859,460

  • 23 · Secured mortgages and notes payable

    beginning of year $267,975 · end of year $147,530

  • 25 · Other liabilities

    beginning of year $6,317,231 · end of year $2,790,651

  • 27 · Net assets without donor restrictions

    beginning of year $165,517,487 · end of year $173,441,507

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Beloit Health System provides quality medical health care regardless of race, creed, sex, national origin, disability, age or ability to pay. During 2023, the System's Hospital served over 4,300 inpatients including newborns and provided more than 746,000 outpatient services, the NorthPointe facility provided more than 92,000 outpatient services and the Clinics provided more than 208,000 encounters. The Health System is equipped to serve the greater Beloit areas entire spectrum of health needs and strives to continue the long-standing tradition of providing excellent general acute care and to better serve the greater Beloit area.

Activities or mission (Part I)

The mission of Beloit Health System, Inc. is to be the leader in regional health and wellness services that delivers high quality value and satisfaction to our patients and communities we serve.

  • Inpatient Revenue: Total adult admissions of 4,187 with an average daily census of 52 and an average length of stay of 4.5 days. This is in comparison to 2022 where admissions were 4,161 with an average daily census of 49 and an average length of stay of 4.3 days. Total patient days were 18,939 compared to 17,741 in 2022.

    Expenses $52,232,663 · Revenue $60,927,047

  • Outpatient Revenue: Total Hospital and NorthPointe outpatient procedures for 2023 were just over 838,000 compared to just over 820,000 in 2022. Total Physician Clinic encounters were just over 208,000, an increase from 191,000 in 2022 due to active physician recruitment and increases in physician RVU's year over year.

    Expenses $178,412,982 · Revenue $208,110,702

As filed on the 2023 return.

Listed in Part VII

  • Timothy M McKevett

    Non Voting Board Member & System President & CEO

    Total calculated
    $1,401,494
    From this org
    $1,355,693
    From related orgs
    $0
    Other
    $45,801
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $658,113
    Bonus
    $347,251
    Other
    $350,329
    Deferred
    $45,801
    Nontaxable benefits
    $0
    Filer's total
    $1,401,494

  • Roger Kapoor MD

    VP of Physician Clinics/Medical Affairs/Physician

    Total calculated
    $1,313,537
    From this org
    $1,298,687
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,133,085
    Bonus
    $165,602
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $1,313,537

  • Leo Egbujiobi MD

    Board Member & Physician

    Total calculated
    $1,172,313
    From this org
    $1,157,463
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,157,463
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $1,172,313

  • Glenn Tan MD

    Physician

    Total calculated
    $1,019,259
    From this org
    $1,004,409
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,004,409
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $1,019,259

  • Paul Segal MD

    Physician

    Total calculated
    $915,422
    From this org
    $900,572
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $900,572
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $915,422

  • Tsu-Hon Wang MD

    Board Secretary & Physician

    Total calculated
    $897,421
    From this org
    $882,571
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $882,571
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $897,421

  • Kevin Tomera MD

    Physician

    Total calculated
    $886,818
    From this org
    $871,968
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $871,968
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $886,818

  • Bin Jatta MD

    Physician

    Total calculated
    $884,030
    From this org
    $869,180
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $869,180
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $884,030

  • David Yoon MD

    Physician

    Total calculated
    $879,074
    From this org
    $864,224
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $864,224
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $879,074

  • Jamie Frantz MD

    Board Member & Physician

    Total calculated
    $836,131
    From this org
    $821,281
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $821,281
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $836,131

  • Kenneth Klein MD

    Board Member & Physician

    Total calculated
    $440,380
    From this org
    $433,780
    From related orgs
    $0
    Other
    $6,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $433,780
    Bonus
    $0
    Other
    $0
    Deferred
    $6,600
    Nontaxable benefits
    $0
    Filer's total
    $440,380

  • James Bird

    VP of Financial Services

    Total calculated
    $436,784
    From this org
    $421,934
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $359,680
    Bonus
    $62,254
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $436,784

  • Robert Lisek MD

    Board Member & Physician

    Total calculated
    $376,944
    From this org
    $362,094
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $362,094
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $376,944

  • Thomas McCawley

    VP of Human Relations

    Total calculated
    $361,578
    From this org
    $346,728
    From related orgs
    $0
    Other
    $14,850
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,137
    Bonus
    $65,591
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $0
    Filer's total
    $361,578

  • Sharon Cox

    VP of Nursing Services

    Total calculated
    $344,665
    From this org
    $332,764
    From related orgs
    $0
    Other
    $11,901
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,775
    Bonus
    $66,989
    Other
    $0
    Deferred
    $11,901
    Nontaxable benefits
    $0
    Filer's total
    $344,665

  • Nommo Donald

    Vice President

    Total calculated
    $292,731
    From this org
    $279,827
    From related orgs
    $0
    Other
    $12,904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,482
    Bonus
    $35,345
    Other
    $0
    Deferred
    $12,904
    Nontaxable benefits
    $0
    Filer's total
    $292,731

  • James B Fisher

    Board Chair

    Total calculated
    $0
    Hours/week
    0

  • Mark Gliebe

    Board Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • David McCoy

    Board Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Kathy Hendricks

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • James Packard

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • William DeLong

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • John Wong

    Board Member

    Total calculated
    $0
    Hours/week
    0

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

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

Schedule J, Part I, Line 1a
Memberships are paid on behalf of all individuals listed on Part VII Section A. These memberships are to the Health System's Fitness Center as well as different social clubs and organizations. This promotes overall health and wellness, social aspects, and getting involved in the community for the Board and key employees of Beloit Health System.
Schedule J, Part I, Line 4
409(a) Plan Participant is Timothy McKevett. $350,329 was received in 2023

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202443209349309059

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