Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SKILLED NURSING FACILITY

  total $14,295,032 · related or exempt $14,295,032

• 3 · Investment income

  total $76,632 · excluded $76,632

• 7a · Gross sales of assets other than inventory

  securities $1,027,534

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

  securities $993,177

• 7c · Gain or loss

  securities $34,357

• 7d · Net gain or loss

  total $34,357 · excluded $34,357

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $7,079,491 · program services $6,293,495 · management and general $785,996

• 9 · Other employee benefits

  total $613,617 · program services $546,119 · management and general $67,498

• 10 · Payroll taxes

  total $591,682 · program services $526,597 · management and general $65,085

• 11b · Fees: legal

  total $1,465 · program services $1,093 · management and general $372

• 11c · Fees: accounting

  total $37,750 · program services $28,158 · management and general $9,592

• 11f · Fees: investment management

  total $1,953 · management and general $1,953

• 11g · Fees: other

  total $1,092,177 · program services $1,041,667 · management and general $50,510

• 12 · Advertising and promotion

  total $17,176 · program services $12,815 · management and general $4,361

• 13 · Office expenses

  total $128,656 · program services $95,989 · management and general $32,667

• 14 · Information technology

  total $151,371 · program services $112,936 · management and general $38,435

• 16 · Occupancy

  total $1,061,514 · program services $1,035,049 · management and general $26,465

• 17 · Travel

  total $941 · program services $702 · management and general $239

• 22 · Depreciation, depletion and amortization

  total $25,000 · program services $18,652 · management and general $6,348

• 23 · Insurance

  total $141,442 · program services $141,442

• 24a · Other expenses: PROVIDER USER FEE

  total $647,535 · management and general $647,535

• 24b · Other expenses: MEDICAL SUPPLIES AND LI

  total $518,699 · program services $518,699

• 24c · Other expenses: DIETARY

  total $332,305 · program services $332,305

• 24d · Other expenses: PHARMACEUTICALS

  total $307,696 · program services $307,696

• 24e · All other expenses

  total $12,236 · program services $12,236

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $3,035,755

• 2 · Savings and temporary cash investments

  beginning of year $51,810

• 4 · Accounts receivable

  end of year $2,117,802

• 9 · Prepaid expenses and deferred charges

  end of year $136,877

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

  $505,206

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

  $25,000

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $480,206

• 11 · Investments: publicly traded securities

  beginning of year $7,787,480

• 12 · Investments: other securities

  beginning of year $571,249

• 15 · Other assets

  beginning of year $559,000 · end of year $12,173,969

• 17 · Accounts payable and accrued expenses

  end of year $1,336,720

• 25 · Other liabilities

  beginning of year $559,047 · end of year $6,578,948

• 27 · Net assets without donor restrictions

  beginning of year $8,410,492 · end of year $10,028,941

The filer's explanations (Part III)

PART I, LINE 3

SOUTHCOAST LONG TERM CARE SERVICES, INC. (SLTCS) RELIED ON AFFILIATE SOUTHCOAST HOSPITALS GROUP, INC. (SHG), A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT. SHG CHECKED THE FOLLOWING BOXES, WHICH WERE USED TO ESTABLISH COMPENSATION OF THE PRESIDENT: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

PART I, LINES 4A-B

OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SHG PARTICIPATE IN SHG'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTION CREDITS UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES THE VESTED PORTION OF CONTRIBUTIONS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $133,121 AND WADE BROUGHMAN - $158,103

PART I, LINE 7

THE SOUTHCOAST HEALTH SYSTEM EXECUTIVE COMPENSATION PLAN (THE PLAN) WAS ESTABLISHED ON 10/15/2008 AND UPDATED FROM TIME TO TIME, AND IS GOVERNED BY THE COMPENSATION COMMITTEE (THE COMMITTEE) OF THE BOARD OF TRUSTEES (BOARD) OF SOUTHCOAST HEALTH SYSTEM. THE PLAN OUTLINES GOALS, ADMINISTRATION, ELIGIBILITY, PARTICIPATION, PERFORMANCE MEASUREMENT, AND PLAN FUNDING. LUMP SUM CASH AWARDS ARE EARNED BY DESIGNATED EXECUTIVES AT SPECIFIC TARGET LEVELS BASED ON JOB LEVEL. BOTH AWARD AMOUNTS PAID AND ELIGIBILITY ARE DETERMINED SOLELY AT THE BOARD'S DISCRETION. THE PLAN IS MAINTAINED IN EFFECT AT THE DISCRETION OF THE COMMITTEE.

PART I:

OFFICERS, DIRECTORS, AND TRUSTEES OF SLTCS RECEIVE NO COMPENSATION FOR THEIR ROLES IN THESE CAPACITIES. OFFICERS, DIRECTORS, AND TRUSTEES (BOTH CURRENT AND FORMER) WITH REPORTABLE COMPENSATION ARE COMPENSATED BY THE RELATED ORGANIZATION SOUTHCOAST HOSPITALS GROUP, INC. (SHG) FOR SERVICES RENDERED OR AS PART OF A DEFERRED COMPENSATION ARRANGEMENT.

PART II, COLUMN F:

OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. PRIOR YEAR CONTRIBUTION CREDITS INCLUDED AS DEFERRED IN A PRIOR YEAR AND AS W-2 COMPENSATION IN THE CURRENT YEAR ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (F). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN F FOR THE FOLLOWING INDIVIDUALS INCLUDES THE ORIGINAL CONTRIBUTION CREDITS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $143,760 AND RAYFORD KRUGER - $476,100

Related corporations and trusts

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

• COASTLINE PROFESSIONAL ASSURANCE CORP LTD

  C · INSURANCE · CJ · controlled entity

  Directly controlled by SOUTHCOAST HEALTH SYSTEM INC

• HEALTH MANAGEMENT INITIVES INC

  C · COMM. RENTALS · MA · controlled entity

  Directly controlled by SOUTHCOAST HEALTH SYSTEM INC

• SAME DAY SURGICARE OF NE INC

  S · MEDICAL SERVICES · MA · controlled entity

  Directly controlled by SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC