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Nonprofiteer
← COBRE VALLEY REGIONAL MEDICAL CENTER

Form 990 for tax year 2023

Filed by COBRE VALLEY REGIONAL MEDICAL CENTER.

Totals

Total revenue
$103,795,634
Total expenses
$89,784,044
Contributions and grants received
$2,749,640
Grants paid
$126,375
Program service revenue
$98,272,954
Investment income
$1,892,466
Other revenue
$880,574
Total assets, end of year
$157,588,831
Total liabilities, end of year
$63,958,770
Net assets or fund balances, end of year
$93,630,061
Program services expenses (Part IX)
$51,801,745
Management and general expenses
$37,982,299
Fundraising expenses
$0
Program service expenses (Part III)
$51,801,745

Program services were 57.7% 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.

  • 1e · Government grants (contributions)

    $2,021,040

  • 1f · All other contributions, gifts and grants

    $728,600

  • 2a · Program service revenue: Net Patient Svc Revenue

    total $98,272,954 · related or exempt $98,272,954

  • 3 · Investment income

    total $1,892,466 · excluded $1,892,466

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $254,649

  • 6c · Rental income or loss

    real property $254,649

  • 6d · Net rental income or loss

    total $254,649 · excluded $254,649

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Cafeteria

    total $450,636 · excluded $450,636

  • 11b · Other revenue: Records, Rebates & Other

    total $175,289 · related or exempt $175,289

  • 11e · Other revenue, total

    $625,925

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $123,875 · program services $123,875

  • 2 · Grants to domestic individuals

    total $2,500 · program services $2,500

  • 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 $12,363 · program services $7,133 · management and general $5,230

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $31,786,819 · program services $18,339,703 · management and general $13,447,116

  • 8 · Pension plan contributions

    total $785,667 · program services $453,298 · management and general $332,369

  • 9 · Other employee benefits

    total $6,027,294 · program services $3,477,504 · management and general $2,549,790

  • 10 · Payroll taxes

    total $2,111,489 · program services $1,218,243 · management and general $893,246

  • 11a · Fees: management

    total $1,042,231 · program services $601,325 · management and general $440,906

  • 11b · Fees: legal

    total $104,652 · program services $60,380 · management and general $44,272

  • 11c · Fees: accounting

    total $72,115 · program services $41,607 · management and general $30,508

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $13,053,961 · program services $7,531,605 · management and general $5,522,356

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $1,071,734 · program services $618,347 · management and general $453,387

  • 17 · Travel

    total $173,229 · program services $99,946 · management and general $73,283

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $1,583,726 · program services $913,746 · management and general $669,980

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,147,607 · program services $2,969,960 · management and general $2,177,647

  • 23 · Insurance

    total $951,393 · program services $548,915 · management and general $402,478

  • 24a · Other expenses: Supplies

    total $16,571,039 · program services $9,560,816 · management and general $7,010,223

  • 24b · Other expenses: Purchased services & Other

    total $7,504,097 · program services $4,276,097 · management and general $3,228,000

  • 24c · Other expenses: Repairs & Maintenance

    total $1,349,192 · program services $778,429 · management and general $570,763

  • 24d · Other expenses: Dues & Subscriptions

    total $309,061 · program services $178,316 · management and general $130,745

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,462,024 · end of year $11,398,243

  • 2 · Savings and temporary cash investments

    beginning of year $75,262,622 · end of year $91,759,122

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $5,948,614 · end of year $6,507,107

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $523,499 · end of year $1,505,472

  • 8 · Inventories for sale or use

    beginning of year $2,519,834 · end of year $2,843,156

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,155,347 · end of year $1,282,043

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

    $107,022,086

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

    $67,571,085

  • 10c · Land, buildings and equipment, net

    beginning of year $36,029,047 · end of year $39,451,001

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $2,640,724 · end of year $2,842,687

  • 17 · Accounts payable and accrued expenses

    beginning of year $32,235,281 · end of year $34,195,767

  • 20 · Tax-exempt bond liabilities

    beginning of year $28,193,080 · end of year $27,288,036

  • 23 · Secured mortgages and notes payable

    beginning of year $1,852,127 · end of year $2,474,967

  • 27 · Net assets without donor restrictions

    beginning of year $73,433,162 · end of year $92,701,836

  • 28 · Net assets with donor restrictions

    beginning of year $828,061 · end of year $928,225

Mission and programs · 2023

Mission

The mission of our Hospital is to develop and maintain a local health care delivery system that serves the region with quality, efficiency and compassion.

Activities or mission (Part I)

The mission of our Hospital is to develop and maintain a local health care delivery system that serves the region with quality, efficiency, and compassion.

  • FOR THE YEAR ENDED 12/31/2023, COBRE VALLEY REGIONAL MEDICAL CENTER (CVRMC) CARRIED OUT 147,727 PATIENT VISITS, COMPRISED AS: 67,180 HOSPITAL OUTPATIENT, 15,578 OUTPATIENT EMERGENCY VISITS, 63,000 CLINIC OUTPATIENT, AND 1969 HOSPITAL INPATIENT.ALONG WITH PROVIDING ACUTE HEALTHCARE SERVICES TO THE COMMUNITY AS A NON-PROFIT ENTITY, CVRMC IS COMMITTED TO THE MANY COMMUNITIES WE SERVE. SEVERAL MEMBERS OF OUR ADMINISTRATION, DIRECTORS, MANAGERS, AND STAFF SERVE ON VARIOUS COMMUNITY ASSOCIATIONS INCLUDING: CHAMBERS OF COMMERCE, ROTARY, WORK FORCE DEVELOPMENT, ECONOMIC DEVELOPMENT, CANCER AWARENESS COMMITTEES, DIABETES EDUCATION, GRIEF SUPPORT TEAMS, SCHOLARSHIP COMMITTEES, AQUATIC CENTER, HOUSING COMMITTEES, COMMUNITY DEVELOPMENT, AND YOUTH ATHLETIC PROGRAMS, TO NAME JUST A FEW. CVRMC HAS ITS FINGER ON THE PULSE OF THE COMMUNITY, PROVIDES CHARITABLE CARE WITH PURPOSE, AND OFFERS EDUCATIONAL SERVICES AND PROGRAMS FOR THE GOOD OF OUR PUBLIC.THE COMMUNITY HEALTH NEED ASSESSMENT (CHNA) WAS MADE PUBLICLY AVAILABLE IN 2023. AS WE EVALUATE THE RECENTLY COMPLETED CHNA AND WORK OUR COMMUNITY HEALTH IMPLEMENTATION PLAN (CHIP), CVRMC WILL CONTINUE TO ACTIVELY WORK WITH OTHER HEALTHCARE ORGANIZATIONS, BE INVOLVED WITH STATE AND FEDERAL LEGISLATION INITIATIVES, AND CONTINUE TO CONNECT TO THE COMMUNITIES WE SERVE TO ADDRESS HEALTH PRIORITIES. CHNA IMPLEMENTATION PROGRESS THROUGH 2023 INCLUDES:PRIORITY 1: CHRONIC DISEASE OBESITY, HEART, DIABETES, CANCER CVRMC WILL SEEK THE FOLLOWING ACTIONS TO ADDRESS THIS NEED: CHRONIC CARE MANAGEMENT, UTILIZE INTERNAL AND EXTERNAL DATA TO IMPROVE PATIENT CHRONIC CARE MANAGEMENT, CONTINUE AND DEVELOP HEALTH AND WELLNESS EDUCATION AND COMMUNITY OUTREACH, AND CONTINUE TO DEVELOP COMMUNITY WELLNESS OPPORTUNITIES AND FACILITIES.PRIORITY 2: BEHAVIORAL/MENTAL HEALTH CVRMC WILL SEEK THE FOLLOWING ACTIONS TO ADDRESS THIS NEED: MITIGATE THE MENTAL HEALTH STIGMA THROUGH EDUCATION AND AWARENESS AND INCREASE ACCESS TO MENTAL HEALTH SERVICES IN THE COMMUNITIES WE SERVE. PRIORITY 3: SUBSTANCE/DRUG/OPIOID/ALCOHOL ABUSE CVRMC WILL SEEK THE FOLLOWING ACTIONS TO ADDRESS THIS NEED: Expand access to Narcan at CVRMC locations AND PARTNER WITH COUNTY AND SCHOOLS TO INCREASE AWARENESS.POPULATION CVRMC COUNTINUES TO DEVELOP ITS COLLABORATION WITH THE VARIOUS PROVIDERS AND AGENCIES FOCUSED ON SERVICES TO THE ELDERLY. ALSO, SPECIALTY SERVICE LINES OF CARDIOLOGY AND ORTHOPEDICS HAVE ENHANCED SERIVCES FOR HEALTH CONDITIONS PROMINENT IN AN AGING POPULATION. CONTINUED AWARENESS TRAINING HAS BEEN PROVIDED TO HOSPITAL LEADERSHIP AND STAFF ON COMMUNICATING AVAILABLE SERVICES TO THE COMMUNITY, PARTICULARLY THE SENIOR POPULATION.AS WE CELEBRATE OVER 100 YEARS OF SERVICE TO THE GLOBE-MIAMI AND SURROUNDING COMMUNITIES, CVRMC CONTINUES TO EVOLVE WITH THE CHANGING NEEDS OF OUR POPULATION BASE. HEALTHCARE IS EVER MOVING AND ADVANCING AND CVRMC IS PROGRESSING WITH THE DEMANDS OF OUR TARGET MARKETS. THROUGH THE DURATION OF THE Public Health Emergency (PHE), WHICH CONTINUED THROUGH mid-2023, CVRMC PROVIDED A COMMUNITY HEALTH LEADERSHIP ROLE TO SUPPORT THE COMMUNITY EFFORTS AND RESPONSE TO THE PHE. THE INTENSE FOCUS REQUIRED OF OPERATIONS AND RESOURCES TO PROVIDE AND MAINTAIN THE COMMUNITY PHE RESPONSE LEADERSHIP HAD SEVERE NEGATIVE IMPACT ON CVRMCS ABILITY TO ADVANCE THE PRIORITIES OF THE CHNA IMPLEMENTATION PLAN. HOWEVER, THROUGH THE CVRMCS PHE RESPONSE, OUR ORGANIZATION WAS ONCE AGAIN PROFOUNDLY REMINDED THAT THE CONTINUED ACCOMPLISHMENTS WE HAVE MADE ARE A DIRECT RESULT OF A DEDICATED AND COMPASSIONATE WORKFORCE, A STEADFAST BOARD OF DIRECTORS, AND STRONG SUPPORTING MANAGEMENT TEAM WHICH IS FOCUSED ON ONE MISSION THE MISSION OF HEALTH WITH HIGH QUALITY, EFFICIENT AND COMPASSIONATE CARE. CVRMCS STRATEGIC PLAN FOCUS CONTINUES TO BE THE FOLLOWING AREAS:THE PATIENT EXPERIENCE (QUALITY AND CUSTOMER SERVICE)PEOPLEGROWTHCOMMUNITYFINANCIAL STEWARDSHIPOUR COMMUNITIES DESERVE ACCOUNTABILITY AND COMPASSION. WE STRIVE TO RESPECT AND COLLABORATE WITH ALL WHO SURROUND US. WE HAVE AN EARNEST RESPONSIBILITY TO RECOGNIZE THE NEEDS OF OUR POPULATION AND TO RESPOND TO THE HEALTH PRIORITIES FACING OUR POPULATION. CVRMC IS COMMITTED TO OUR COMMUNITIES WITH AN UNWAVERING DEDICATED SPIRIT.

    Expenses $51,801,745 · Grants $126,375 · Revenue $98,448,243

As filed on the 2023 return.

Listed in Part VII

  • Patrick Law

    Physician

    Total calculated
    $588,169
    From this org
    $588,169
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $588,169
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $588,169

  • Scott Croft

    Physician

    Total calculated
    $560,543
    From this org
    $560,543
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $560,543
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $560,543

  • Scott Revell

    Physician

    Total calculated
    $555,859
    From this org
    $555,859
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $555,859
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $555,859

  • Peter Seipel

    Physician

    Total calculated
    $506,917
    From this org
    $506,917
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $506,917
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $506,917

  • Karen Gremminger

    Physician

    Total calculated
    $440,800
    From this org
    $440,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $440,800
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $440,800

  • Dr Alan Osumi

    Trustee

    Total calculated
    $12,363
    From this org
    $0
    From related orgs
    $0
    Other
    $12,363
    Hours/week
    1

  • Robert Hollis

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Jendean Sartain

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Ed Carpenter

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Janice Cook

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Fernando Shipley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Judy Bessee

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James B Rasmussen

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carolyn Mawson Haro

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jack Bradford

    Trustee

    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 · Written employment contract

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

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.

  • RHS 1

    501c3 · Support Charitable Healthcare · AZ

    Directly controlled by Cobre Valley Regional Medical Center

  • RHS

    501c3 · Parent of Healthcare Support Orgs · AZ

    Directly controlled by Cobre Valley Regional Medical Center

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349317963

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