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Nonprofiteer
← MEDICAL FINANCIAL SERVICES INC

Form 990 for tax year 2023

Filed by MEDICAL FINANCIAL SERVICES INC.

Totals

Total revenue
$202,808
Total expenses
$404,065
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$202,808
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,634,184
Total liabilities, end of year
$187,065
Net assets or fund balances, end of year
$5,447,119
Program services expenses (Part IX)
$323,253
Management and general expenses
$80,812
Fundraising expenses
$0
Program service expenses (Part III)
$323,253

Program services were 80.0% 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: COLLECTIONS COMMISSION

    total $202,808 · related or exempt $202,808

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $113,468 · program services $90,775 · management and general $22,693

  • 8 · Pension plan contributions

    total $6,409 · program services $5,127 · management and general $1,282

  • 9 · Other employee benefits

    total $48,826 · program services $39,060 · management and general $9,766

  • 10 · Payroll taxes

    total $7,681 · program services $6,145 · management and general $1,536

  • 11b · Fees: legal

    total $9,544 · program services $7,636 · management and general $1,908

  • 11g · Fees: other

    total $15,942 · program services $12,753 · management and general $3,189

  • 13 · Office expenses

    total $7,450 · program services $5,960 · management and general $1,490

  • 16 · Occupancy

    total $141,932 · program services $113,547 · management and general $28,385

  • 22 · Depreciation, depletion and amortization

    total $3,320 · program services $2,656 · management and general $664

  • 23 · Insurance

    total $9,353 · program services $7,482 · management and general $1,871

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $36,334 · program services $29,067 · management and general $7,267

  • 24b · Other expenses: TAXES AND LICENSES

    total $3,806 · program services $3,045 · management and general $761

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $600 · end of year $600

  • 2 · Savings and temporary cash investments

    beginning of year $5,757,544 · end of year $5,549,445

  • 4 · Accounts receivable

    beginning of year $215 · end of year $215

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,100 · end of year $282

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

    $309,921

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

    $296,891

  • 10c · Land, buildings and equipment, net

    beginning of year $16,351 · end of year $13,030

  • 15 · Other assets

    beginning of year $209,367 · end of year $70,612

  • 17 · Accounts payable and accrued expenses

    beginning of year $79,805 · end of year $80,985

  • 25 · Other liabilities

    beginning of year $257,996 · end of year $106,080

  • 27 · Net assets without donor restrictions

    beginning of year $5,648,376 · end of year $5,447,119

Mission and programs · 2023

Mission

MEDICAL FINANCIAL SERVICES, INC.'S MISSION IS TO PROVIDE ALL OF OUR CLIENTS A COMPREHENSIVE RANGE OF ACCOUNTS RECEIVABLE MANAGEMENT AND COLLECTION SERVICES; PROVIDE SERVICES IN THE MOST COST EFFECTIVE MANNER; DEMONSTRATE A COLLABORATIVE SPIRIT IN WORKING WITH ALL OF OUR CLIENTS; AND CONDUCT ALL OF ITS ACTIVITIES IN AN ATMOSPHERE OF CHRISTIAN INFLUENCE AND COMPASSION CONSISTENT WITH THE OVERALL MISSION OF BAPTIST MEMORIAL HEALTH CARE CORPORATION.

Activities or mission (Part I)

TO PROVIDE COLLECTION SERVICES FOR THE BAPTIST MEMORIAL HEALTH CARE CORPORATION OWNED/MANAGED FACILITIES IN THE MEMPHIS METRO AREA.

  • MEDICAL FINANCIAL SERVICES, INC. PROVIDES COLLECTION SERVICES FOR BAPTIST MEMORIAL HEALTH CARE CORPORATION OWNED OR MANAGED FACILITIES IN THE MEMPHIS METRO AREA. THIS ELIMINATES THE NEED FOR IN-HOUSE COLLECTION PERSONNEL, ALLOWING THESE RESOURCES TO BE USED IN THE PATIENT-CARE FUNCTION. THESE SERVICES ARE PERFORMED AT A LOWER COST THAN TAXABLE FOR-PROFIT COLLECTION AGENCIES, ENABLING THE HOSPITALS WITHIN THE BAPTIST MEMORIAL HEALTH CARE SYSTEM TO REINVEST THE SAVINGS INTO IMPROVING THE QUALITY OF AND LOWERING THE COST OF HEALTH CARE IN THE COMMUNITIES SERVED.

    Expenses $323,253 · Revenue $202,808

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gary C Anderson

    VICE PRESIDENT/DIRECTOR

    Total calculated
    $1,300,745
    From this org
    $0
    From related orgs
    $1,212,139
    Other
    $88,606
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $600,484 related
    Bonus
    $0 + $402,810 related
    Other
    $0 + $208,845 related
    Deferred
    $0 + $64,875 related
    Nontaxable benefits
    $0 + $23,731 related
    Filer's total
    $0 + $1,300,745 related

  • Gregory M Duckett

    DIRECTOR

    Total calculated
    $1,346,501
    From this org
    $0
    From related orgs
    $1,256,183
    Other
    $90,318
    Hours/week
    0.23 + 39.77 related

    Schedule J breakdown matched by us

    Base
    $0 + $494,822 related
    Bonus
    $0 + $339,432 related
    Other
    $0 + $421,929 related
    Deferred
    $0 + $50,496 related
    Nontaxable benefits
    $0 + $39,822 related
    Filer's total
    $0 + $1,346,501 related

  • Jason M Little

    PRESIDENT/DIRECTOR

    Total calculated
    $3,155,218
    From this org
    $0
    From related orgs
    $3,046,996
    Other
    $108,222
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,358,544 related
    Bonus
    $0 + $1,180,544 related
    Other
    $0 + $507,908 related
    Deferred
    $0 + $69,750 related
    Nontaxable benefits
    $0 + $38,472 related
    Filer's total
    $0 + $3,155,218 related

  • Kimberly O Young

    SECRETARY/DIRECTOR (AS OF 11/23)

    Total calculated
    $620,481
    From this org
    $0
    From related orgs
    $572,539
    Other
    $47,942
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,406 related
    Bonus
    $0 + $163,868 related
    Other
    $0 + $61,265 related
    Deferred
    $0 + $41,250 related
    Nontaxable benefits
    $0 + $6,692 related
    Filer's total
    $0 + $620,481 related

  • William A Griffin

    SECRETARY/DIRECTOR (THRU 10/23)

    Total calculated
    $1,381,083
    From this org
    $0
    From related orgs
    $1,314,415
    Other
    $66,668
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $538,399 related
    Bonus
    $0 + $470,786 related
    Other
    $0 + $305,230 related
    Deferred
    $0 + $51,469 related
    Nontaxable benefits
    $0 + $15,199 related
    Filer's total
    $0 + $1,381,083 related

  • Claude Vinson

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $180,481
    From this org
    $0
    From related orgs
    $141,351
    Other
    $39,130
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,386 related
    Bonus
    $0
    Other
    $0 + $9,965 related
    Deferred
    $0 + $25,266 related
    Nontaxable benefits
    $0 + $13,864 related
    Filer's total
    $0 + $180,481 related

  • Paul D Depriest MD

    FORMER VICE PRESIDENT

    Total calculated
    $2,156,966
    From this org
    $0
    From related orgs
    $2,071,866
    Other
    $85,100
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $697,674 related
    Bonus
    $0 + $623,433 related
    Other
    $0 + $750,759 related
    Deferred
    $0 + $66,404 related
    Nontaxable benefits
    $0 + $18,696 related
    Filer's total
    $0 + $2,156,966 related

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

  • 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)

PART I, LINE 3:
BAPTIST MEMORIAL HEALTH CARE CORPORATION, A RELATED ORGANIZATION OF MEDICAL FINANCIAL SERVICES, INC., USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B:
ELIGIBLE EXECUTIVES PARTICIPATE IN VARIOUS NON-QUALIFIED DEFERRED COMPENSATION PLANS ORGANIZED UNDER CODE SECTION 457(F). THE EXACT PURPOSE OF EACH PLAN VARIES BUT THEY INCLUDE: COMPENSATION LIMITATION MAKE-UP PLANS, VOLUNTARY DEFERRAL PLANS, DEFERRAL OF A PORTION OF INCENTIVE BONUS TYPE PLANS, ETC. ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EXECUTIVE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. THE FOLLOWING INDIVIDUAL(S) LISTED ON PART VII RECEIVED SUPPLEMENTAL NON-QUALIFIED PLAN PAYMENTS DURING THE CALENDAR YEAR: GREGORY M. DUCKETT - $379,118 WILLIAM A. GRIFFIN - $218,984 JASON M. LITTLE - $397,792 PAUL D. DEPRIEST, MD - $617,067 GARY C. ANDERSON - $79,907

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.

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.

  • BAPTIST - DESOTO SURGERY CENTER LP

    AMBULATORY SURGERY · MS · general or managing partner

  • BAPTIST - EMSC LP

    AMBULATORY SURGERY · TN · general or managing partner

  • BAPTIST - UT INSTITUTE FOR ACADEMIC EXCELLENCE LLC

    MEDICAL MANAGEMENT · TN · general or managing partner

  • BAPTIST-GERMANTOWN SURGERY CENTER LLC

    AMBULATORY SURGERY · TN · general or managing partner

  • BAPTIST MEMORIAL REHABILITATION HOSPITAL GP

    REHABILITATION SERVICES · TN · general or managing partner

  • BAPTIST MEMORIAL REHABILITATION HOSPITAL - MADISON LLC

    REHABILITATION SERVICES · MS · general or managing partner

  • BMH NORTH MISSISSIPPI IMAGING SERVICES LLC

    DIAGNOSTIC SERVICES · MS

  • BAPTIST AND PHYSICIANS' OUTPATIENT SURGERY CENTER OF N MISSISSIPPI LP

    AMBULATORY SURGERY · MS · general or managing partner

  • BAPTIST STERN CARDIOVASCULAR CO-MANAGEMENT LLC

    MEDICAL MANAGEMENT · TN · general or managing partner

  • BMHSIAEL MICROBIOLOGY LABORATORY GP

    LABORATORY SERVICES · TX · general or managing partner

  • BRAIN AND SPINE NETWORK BAPTIST SEMMES-MURPHEY LLC

    MEDICAL MANAGEMENT · TN · general or managing partner

  • EAST MEMPHIS UROLOGY CENTER LP

    AMBULATORY UROLOGICAL SERVICES · TN · general or managing partner

  • MADISON HEALTHPLEX PERFORMANCE TRAINING CENTER LLC

    FITNESS CENTER · MS · general or managing partner

  • MAIN STREET FAMILY MEDICAL LLC

    MEDICAL SERVICES · MS · general or managing partner

  • MAYS & SCHNAPP PAIN CLINIC

    PAIN MANAGEMENT SERVICES · TN · general or managing partner

  • MEDICAL ALTERNATIVES

    PROVIDE HOME INFUSION PRODUCTS AND SERVICES TO PATIENTS · TN · general or managing partner

  • MID-SOUTH IMAGING CENTER LLC

    DIAGNOSTIC SERVICES · MS · general or managing partner

  • WEST TENNESSEE IMAGING LLC

    MEDICAL SERVICES · TN

Related corporations and trusts

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

  • BAPTIST HEALTH SERVICES GROUP OF THE MID-SOUTH INC

    C · HEALTH INSURANCE CONTRACTING · TN · controlled entity

  • GERMANTOWN BUSINESS PARK OWNERS ASSOCIATION

    C · BOOKKEEPING & DATA PROCESSING GERMANTOWN BUS. PARK · TN · controlled entity

  • HEALTH TECH AFFILIATES INC

    C · BUYING & LEASING REAL & PERSONAL PROPERTY · TN · controlled entity

  • MISSISSIPPI BAPTIST MEDICAL ENTERPRISES INC AND SUBS

    C · INVESTMENTS · MS · controlled entity

  • SOUTHCREST PROPERTY OWNERS ASSOCIATION INC

    C · BOOKKEEPING & DATA PROCESSING FOR THE SOUTHCREST DEVELOPMENT · MS · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2025
IRS schema version
2023v6.0
Source object
202522269349300007

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