Form 990 for tax year 2024

Filed by MONADNOCK COMMUNITY HOSPITAL.

Totals

Total revenue: $137,169,599
Total expenses: $131,722,856
Contributions and grants received: $892,216
Grants paid: $45,308
Program service revenue: $130,075,971
Investment income: $6,170,792
Other revenue: $30,620
Total assets, end of year: $205,381,952
Total liabilities, end of year: $48,525,347
Net assets or fund balances, end of year: $156,856,605
Program services expenses (Part IX): $116,716,358
Management and general expenses: $14,175,023
Fundraising expenses: $831,475
Program service expenses (Part III): $116,716,358

Program services were 88.6% 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.

1c · Fundraising events

$57,356
1f · All other contributions, gifts and grants

$834,860
1g · Noncash contributions included above

$214,761
2a · Program service revenue: Net patient service revenue

total $115,915,075 · related or exempt $115,915,075
2b · Program service revenue: Disproportionate share funding

total $8,136,158 · related or exempt $8,136,158
2c · Program service revenue: Other operating revenue

total $5,327,351 · related or exempt $5,327,351
2d · Program service revenue: Cafeteria/vending machine

total $433,037 · related or exempt $433,037
2e · Program service revenue: Employee pharmacy sales

total $264,350 · related or exempt $264,350
3 · Investment income

total $5,440,218 · excluded $5,440,218
6a · Gross rents

real property $109,984
6b · Less rental expenses

real property $77,229
6c · Rental income or loss

real property $32,755
6d · Net rental income or loss

total $32,755 · excluded $32,755
7a · Gross sales of assets other than inventory

securities $968,347
7b · Less cost or other basis and sales expenses

securities $153,686 · other assets $84,087
7c · Gain or loss

securities $814,661 · other assets -$84,087
7d · Net gain or loss

total $730,574 · excluded $730,574
8a · Fundraising events: gross income

$29,895
8a · Fundraising events: contributions included on line 1c

$57,356
8b · Fundraising events: direct expenses

$33,250
8c · Net income from fundraising events

total -$3,355 · excluded -$3,355
9a · Gaming: gross income

$1,300
9b · Gaming: direct expenses

$80
9c · Net income from gaming

total $1,220 · excluded $1,220

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $5,000 · program services $5,000
2 · Grants to domestic individuals

total $40,308 · program services $40,308
5 · Compensation of officers, directors and key employees

total $1,431,158 · program services $560,336 · management and general $870,822
7 · Other salaries and wages

total $49,356,255 · program services $44,006,868 · management and general $5,011,831 · fundraising $337,556
8 · Pension plan contributions

total $612,116 · program services $565,652 · management and general $43,944 · fundraising $2,520
9 · Other employee benefits

total $9,169,546 · program services $8,101,285 · management and general $1,006,788 · fundraising $61,473
10 · Payroll taxes

total $3,088,683 · program services $2,732,760 · management and general $331,617 · fundraising $24,306
11b · Fees: legal

total $166,927 · management and general $166,927
11c · Fees: accounting

total $99,965 · management and general $99,965
11d · Fees: lobbying

total $18,638 · management and general $18,638
11f · Fees: investment management

total $307,057 · management and general $307,057
11g · Fees: other

total $9,259,399 · program services $8,215,946 · management and general $1,037,746 · fundraising $5,707
12 · Advertising and promotion

total $198,117 · program services $175,791 · management and general $22,326
13 · Office expenses

total $4,568,194 · program services $3,949,540 · management and general $585,714 · fundraising $32,940
14 · Information technology

total $1,632,761 · program services $1,448,763 · management and general $183,998
16 · Occupancy

total $2,986,855 · program services $2,650,263 · management and general $336,592
17 · Travel

total $56,387 · program services $50,033 · management and general $5,047 · fundraising $1,307
19 · Conferences, conventions and meetings

total $374,714 · program services $293,752 · management and general $42,227 · fundraising $38,735
20 · Interest

total $915,045 · management and general $915,045
22 · Depreciation, depletion and amortization

total $5,641,716 · program services $5,269,371 · management and general $372,345
23 · Insurance

total $1,324,308 · program services $1,161,405 · management and general $162,903
24a · Other expenses: Med. supplies/services

total $25,981,307 · program services $23,053,442 · management and general $2,600,934 · fundraising $326,931
24b · Other expenses: Provision for bad debt

total $8,383,098 · program services $8,383,098
24c · Other expenses: NH medicaid enhancement

total $5,638,916 · program services $5,638,916
24d · Other expenses: Food/dietary supplies

total $458,780 · program services $407,080 · management and general $51,700
24e · All other expenses

total $7,606 · program services $6,749 · management and general $857

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $4,731 · end of year $4,551
2 · Savings and temporary cash investments

beginning of year $26,649,849 · end of year $14,520,390
3 · Pledges and grants receivable

end of year $78,671
4 · Accounts receivable

beginning of year $11,076,250 · end of year $13,477,606
7 · Other notes and loans receivable

beginning of year $861,377 · end of year $648,106
8 · Inventories for sale or use

beginning of year $1,557,225 · end of year $1,660,131
9 · Prepaid expenses and deferred charges

beginning of year $1,780,257 · end of year $1,821,951
10a · Land, buildings and equipment: cost or other basis

$117,392,859
10b · Land, buildings and equipment: accumulated depreciation

$74,038,406
10c · Land, buildings and equipment, net

beginning of year $41,107,471 · end of year $43,354,453
11 · Investments: publicly traded securities

beginning of year $113,120,776 · end of year $122,069,498
12 · Investments: other securities

beginning of year $6,791,711 · end of year $7,539,699
14 · Intangible assets

beginning of year $87,144
15 · Other assets

beginning of year $206,896 · end of year $206,896
17 · Accounts payable and accrued expenses

beginning of year $11,718,260 · end of year $11,129,184
19 · Deferred revenue

beginning of year $9,336 · end of year $56,749
20 · Tax-exempt bond liabilities

beginning of year $20,551,113 · end of year $19,804,195
23 · Secured mortgages and notes payable

beginning of year $24,520
25 · Other liabilities

beginning of year $24,733,858 · end of year $17,535,219
27 · Net assets without donor restrictions

beginning of year $128,694,052 · end of year $138,145,625
28 · Net assets with donor restrictions

beginning of year $17,512,548 · end of year $18,710,980

Mission and programs · 2024

Mission

Monadnock Community Hospital is committed to improving the health and well-being of our community. We will elevate the health of our community by providing accessible, high quality and value based care.

Activities or mission (Part I)

Critical access hospital serving the Monadnock region of the State of New Hampshire

The primary purpose of Monadnock Community Hospital (MCH) is to ensure access to quality health care for patients in our community, regardless of their ability to pay. The following is a summary of the services MCH provides in an effort to fulfill its mission, together with key program statistics for fiscal year 2025.Inpatient Services - Includes: adult stays, maternity/births, and swing bed nursing. During the fiscal year, the Hospital admitted 1,079 patients and recorded 3,102 patient days. Emergency Services - MCH offers health services 24 hours per day, 7 days per week. Responsible for the immediate treatment of any medical or surgical emergency; for initiating life saving procedures in all types of emergency situations; and for providing emergency and initial evaluations and treatment for other conditions including minor illnesses and injuries, and sub-acute medical problems. During the year, there were 13,676 visits to the ER. Physician Practices - Family health services, programs, and education are integral components of healthcare at MCH. Inpatient and outpatient primary care includes: medical, surgical, psychological and specialist services, provided by physicians and mid-level practitioners. These are located at the Hospital and its four satellite practices located in Antrim, Jaffrey, New Ipswich, and Rindge. During the year, 58,412 primary care office visits were recorded. Surgical Services - Includes same day and short-term inpatient surgery. MCH provides surgery in the areas of orthopaedics, general surgery, OB/GYN, ophthalmology, urology, ENT, and podiatry. In addition, the Hospital offers some non-surgical procedures including colonoscopies, gastroscopies, and pain management injections. During the fiscal year, 4,386 procedures were performed. Radiology and Diagnostics - MCH provides advanced radiological technology and extensive imaging services including: bone density, MRI, CT, nuclear medicine, ultrasound, mammography, and other diagnostic procedures, both inpatient and outpatient. During the fiscal year, 37,106 exams were performed. Rehabilitation Services - Additionally, MCH serves the people of the Monadnock Region through its medical rehabilitation and fitness services. MCH offers rehabilitation programs for cardiac and diabetic rehabilitation, along with pulmonary fitness, which feature educational and exercise components. We also provide physical and occupational therapy, as well as speech rehabilitation. During the fiscal year, 76,647 procedures were recorded for these services. Monadnock Community Hospital's Financial Grant Program provides assistance with hospital and/or physician bills for qualifying patients. In fiscal year 2025, the Organization recorded $1,037,000 in charges foregone based on established rates. In addition, Monadnock Community Hospital provided other services to the community at no cost or reduced cost, such as screenings and clinics. The cost of providing these services was approximately $20,623,000 in fiscal year 2025.

Expenses $116,716,358 · Grants $45,308 · Revenue $130,075,971

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Terrence McNamara DO

Trustee/Physician

Total calculated

$560,336

From this org

$517,677

From related orgs

$0

Other

$42,659

Hours/week

41.5

Schedule J breakdown matched by us

Base

$497,227

Bonus

$20,000

Other

$450

Deferred

$6,900

Nontaxable benefits

$35,759

Filer's total

$560,336
Cynthia McGuire

Chief Executive Officer

Total calculated

$516,289

From this org

$461,176

From related orgs

$0

Other

$55,113

Hours/week

55 + 0.6 related

Schedule J breakdown matched by us

Base

$364,802

Bonus

$73,600

Other

$22,774

Deferred

$24,400

Nontaxable benefits

$30,713

Filer's total

$516,289
Kevin Beaulieu

Trustee (start 1/2025)

Total calculated

$0

Hours/week

3
James Callahan Esq

Trustee

Total calculated

$0

Hours/week

3
Peter Cerroni DMD

Trustee

Total calculated

$0

Hours/week

3
Jeffrey R Crocker Esq

Trustee

Total calculated

$0

Hours/week

3
Carolyn Garretson

Trustee

Total calculated

$0

Hours/week

3
Steve Kim

Trustee

Total calculated

$0

Hours/week

3
Eric Lasky MD

Ex-Officio (voting)

Total calculated

$0

Hours/week

3
Leslie Lewis

Trustee (end 1/2025)

Total calculated

$0

Hours/week

3
Stephen Lehmkuhl DO

Ex-Officio (voting)

Total calculated

$0

Hours/week

3
Ed Madigan

Trustee

Total calculated

$0

Hours/week

3
Greg Neilley MD

Trustee

Total calculated

$0

Hours/week

3
Melanie Presnell APRN

Trustee (start 1/2025)

Total calculated

$0

Hours/week

3
Linda Roche

Trustee (start 1/2025)

Total calculated

$0

Hours/week

3
Iris Waitt

Trustee

Total calculated

$0

Hours/week

3
Paul Faber

Chair

Total calculated

$0

Hours/week

3
Paula Hunter

Vice Chair

Total calculated

$0

Hours/week

3
Thomas S Bates CPA

Treasurer (end 2025)

Total calculated

$0

Hours/week

3
Casandra Clark

Treasurer

Total calculated

$0

Hours/week

3
Patricia Shuster

Clerk

Total calculated

$0

Hours/week

3
Richard D Scheinblum

VP Finance/CFO

Total calculated

$354,533

From this org

$326,012

From related orgs

$0

Other

$28,521

Hours/week

50

Schedule J breakdown matched by us

Base

$303,810

Bonus

$21,512

Other

$690

Deferred

$6,227

Nontaxable benefits

$22,294

Filer's total

$354,533
Vache Hambardzumyan MD

Physician

Total calculated

$629,871

From this org

$590,819

From related orgs

$0

Other

$39,052

Hours/week

40

Schedule J breakdown matched by us

Base

$589,869

Bonus

$0

Other

$950

Deferred

$5,077

Nontaxable benefits

$33,975

Filer's total

$629,871
Brian Kwitkin MD

Physician

Total calculated

$556,472

From this org

$520,154

From related orgs

$0

Other

$36,318

Hours/week

40

Schedule J breakdown matched by us

Base

$518,964

Bonus

$0

Other

$1,190

Deferred

$0

Nontaxable benefits

$36,318

Filer's total

$556,472
Daniel Perli MD

Physician/Chief Medical Officer

Total calculated

$480,312

From this org

$449,202

From related orgs

$0

Other

$31,110

Hours/week

50

Schedule J breakdown matched by us

Base

$448,902

Bonus

$0

Other

$300

Deferred

$6,900

Nontaxable benefits

$24,210

Filer's total

$480,312
Dmitry Tarasevich MD

Physician

Total calculated

$458,564

From this org

$438,436

From related orgs

$0

Other

$20,128

Hours/week

40

Schedule J breakdown matched by us

Base

$417,986

Bonus

$20,000

Other

$450

Deferred

$6,900

Nontaxable benefits

$13,228

Filer's total

$458,564
Shawn Harrington MD

Physician

Total calculated

$478,320

From this org

$438,120

From related orgs

$0

Other

$40,200

Hours/week

40

Schedule J breakdown matched by us

Base

$416,830

Bonus

$20,000

Other

$1,290

Deferred

$6,900

Nontaxable benefits

$33,300

Filer's total

$478,320

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 · Compensation committee
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan
7 · Other non-fixed payments

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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b: Schedule J, Page 1, Line 4b, supplemental non-qualified retirement plans: Cynthia McGuire, President & CEO, participates in a 457(f) plan with Monadnock Community Hospital. After a three year vesting period, amounts previously contributed to her by Monadnock Community Hospital are reported as part of her W-2 wages. In calendar year 2024, a total of $17,500 was deposited into Ms. McGuire's 457(f) plan account, which is included in the amount reported on Schedule J, Part II, Column C for this current fiscal year Form 990 filing. Additionally, $18,963.67 of compensation is reported in Column B(iii), which represents the vested 2021 contribution of $17,500 and earnings of $1,463.67. The $17,500 has also been reported on this Schedule J, Part II, Column F, as compensation deferred in a previous period which became taxable during this filing period (calendar year 2024 for purposes of income and benefit reporting).
Part I, Line 7: MCH may from time-to-time compensate physicians utilizing quality and productivity targets based on WRVU (work relative value units). In addition, the Compensation Committee may recommend to the full board, annually, the variable pay award that may be issued to the Hospital's CEO. The payment of any such awards are discretionary and are subject to meeting the pre-determined goals of the Organization.

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.

Monadnock Health Services - INACTIVE

501(c)(3) · Inactive · NH · controlled entity

Directly controlled by Monadnock Community Hospital

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

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

NH Value Care ACO LLC

Health Care Services · NH

Provenance

Return type: form_990
Tax year: 2024
Filed: 10 August 2026
IRS schema version: 2024v5.5
Source object: 202622249349300502

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