Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $2,982,595

• 1e · Government grants (contributions)

  $250,000

• 1f · All other contributions, gifts and grants

  $223,297

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $133,750,316 · related or exempt $133,750,316

• 2b · Program service revenue: CONTRACT SERVICE REVENUE

  total $37,968,641 · related or exempt $37,968,641

• 2c · Program service revenue: REHABILITATION JV INCOME

  total $11,708,074 · related or exempt $11,708,074

• 2d · Program service revenue: RETAIL CAFE REVENUE

  total $527,476 · related or exempt $527,476

• 3 · Investment income

  total $980,157 · excluded $980,157

• 6a · Gross rents

  real property $196,523

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $196,523

• 6d · Net rental income or loss

  total $196,523 · excluded $196,523

• 7a · Gross sales of assets other than inventory

  securities $4,772,761 · other assets $30,000

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

  securities $4,626,653 · other assets $61,674

• 7c · Gain or loss

  securities $146,108 · other assets -$31,674

• 7d · Net gain or loss

  total $114,434 · excluded $114,434

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $100,428 · program services $100,428

• 5 · Compensation of officers, directors and key employees

  total $3,237,933 · program services $487,129 · management and general $2,750,804

• 7 · Other salaries and wages

  total $99,324,731 · program services $97,158,977 · management and general $2,165,754

• 8 · Pension plan contributions

  total $3,868,807 · program services $3,642,382 · management and general $226,425

• 9 · Other employee benefits

  total $19,091,466 · program services $18,193,451 · management and general $898,015

• 10 · Payroll taxes

  total $9,391,576 · program services $8,928,276 · management and general $463,300

• 11b · Fees: legal

  total $863,022 · program services $695,813 · management and general $167,209

• 11c · Fees: accounting

  total $146,725 · management and general $146,725

• 11g · Fees: other

  total $10,447,528 · program services $9,015,609 · management and general $1,431,919

• 12 · Advertising and promotion

  total $491,309 · program services $86,087 · management and general $405,222

• 13 · Office expenses

  total $283,903 · program services $150,839 · management and general $133,064

• 14 · Information technology

  total $6,560,904 · program services $4,592,633 · management and general $1,968,271

• 16 · Occupancy

  total $2,729,845 · program services $2,215,074 · management and general $514,771

• 17 · Travel

  total $190,959 · program services $177,345 · management and general $13,614

• 19 · Conferences, conventions and meetings

  total $275,001 · program services $230,343 · management and general $44,658

• 20 · Interest

  total $1,770,021 · program services $20,314 · management and general $1,749,707

• 22 · Depreciation, depletion and amortization

  total $7,454,950 · program services $5,307,320 · management and general $2,147,630

• 23 · Insurance

  total $1,108,795 · program services $90,753 · management and general $1,018,042

• 24a · Other expenses: MEDICAL SUPPLIES

  total $8,211,603 · program services $8,091,452 · management and general $120,151

• 24b · Other expenses: BAD DEBT EXPENSE

  total $2,165,499 · program services $2,165,499

• 24c · Other expenses: FOOD SERVICE

  total $981,847 · program services $579,323 · management and general $402,524

• 24d · Other expenses: REPAIRS

  total $312,630 · program services $221,458 · management and general $91,172

• 24e · All other expenses

  total $2,303,199 · program services $1,150,640 · management and general $1,152,559

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,675 · end of year $14,605

• 2 · Savings and temporary cash investments

  beginning of year $29,272,458 · end of year $28,794,892

• 4 · Accounts receivable

  beginning of year $19,371,658 · end of year $24,759,098

• 8 · Inventories for sale or use

  beginning of year $257,191 · end of year $234,722

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,080,622 · end of year $2,125,826

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

  $140,419,242

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

  $64,888,130

• 10c · Land, buildings and equipment, net

  beginning of year $66,006,398 · end of year $75,531,112

• 11 · Investments: publicly traded securities

  beginning of year $32,008,672 · end of year $27,589,897

• 14 · Intangible assets

  beginning of year $5,445,904 · end of year $5,445,904

• 15 · Other assets

  beginning of year $77,779,183 · end of year $79,030,628

• 17 · Accounts payable and accrued expenses

  beginning of year $23,294,351 · end of year $24,605,603

• 19 · Deferred revenue

  beginning of year $2,695,970 · end of year $1,536,975

• 20 · Tax-exempt bond liabilities

  beginning of year $30,536,823 · end of year $29,998,906

• 23 · Secured mortgages and notes payable

  beginning of year $20,251,450 · end of year $20,443,639

• 25 · Other liabilities

  beginning of year $5,601,781 · end of year $4,326,542

• 27 · Net assets without donor restrictions

  beginning of year $150,852,386 · end of year $162,615,019

The filer's explanations (Part III)

PART I, LINE 4B

MARY FREE BED REHABILITATION HOSPITAL (MFB) MAINTAINS A SUPPLEMENTAL RETIREMENT PLAN (SERP) FOR A SELECT GROUP OF EXECUTIVES OF MFB AND ITS AFFILIATED ENTITIES. THIS SERP IS AN UNFUNDED, NONQUALIFIED DEFERRED COMPENSATION PLAN THAT IS INTENDED TO COMPLY WITH SECTION 457(F) OF THE INTERNAL REVENUE CODE. BENEFITS UNDER THIS SERP IS TAXABLE TO THE PARTICIPATING EXECUTIVES WHEN SUCH AMOUNTS ARE VESTED. KENT RIDDLE AND INGRID CHESLEK ARE PARTICIPANTS OF THIS PLAN. THERE WERE NO SERP PAYMENTS DURING THE YEAR.

PART I, LINE 7

NON-FIXED PAYMENTS WERE MADE TO EXECUTIVES THAT WERE PREDICATED ON CERTAIN INDIVIDUAL AND TEAM GOALS WHICH ARE SPELLED OUT IN THEIR CONTRACTS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• THERAPY PRACTICE HOLDING COMPANY LLC

  HOLDING COMPANY · MI · income $0 · assets $0

  Directly controlled by MARY FREE BED REHABILITATION HOSPITAL

Related partnerships

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

• RHH-MFB HEALTH VENTURES LLC

  RELATED · IN-HOME NURSING · MI · 60% owned · share of income $1,504,703 · share of assets $5,040,720

  Directly controlled by MARY FREE BED REHABILITATION HOSPITAL

Related corporations and trusts

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

• MARY FREE BED REHABILITATION LLC

  C · PHYSICAL THERAPY · MI · 100% owned · share of income -$299,969 · share of assets $536,251 · controlled entity

  Directly controlled by MARY FREE BED REHABILITATION HOSPITAL

• MARY FREE BED CONDOMINIUM ASSOCIATION

  C · CONDO MAINTENANCE · MI · controlled entity