Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $140,717

• 1d · Related organizations

  $203,095

• 1e · Government grants (contributions)

  $33,715,355

• 1f · All other contributions, gifts and grants

  $1,662,329

• 1g · Noncash contributions included above

  $57,190

• 2a · Program service revenue: PATIENT SVC REVENUE

  total $994,639,690 · related or exempt $994,592,413 · unrelated business $47,277

• 2b · Program service revenue: HEALTHCARE SVC REVENUE

  total $150,809,279 · related or exempt $150,599,581 · unrelated business $209,698

• 2c · Program service revenue: PARTNERSHIP INCOME

  total $2,211,842 · unrelated business $966,396 · excluded $1,245,446

• 2d · Program service revenue: AFFILIATE RENTAL INCOM

  total $1,423,275 · excluded $1,423,275

• 3 · Investment income

  total $10,290,752 · excluded $10,290,752

• 6a · Gross rents

  real property $725,440

• 6b · Less rental expenses

  real property $192,197

• 6c · Rental income or loss

  real property $533,243

• 6d · Net rental income or loss

  total $533,243 · excluded $533,243

• 7a · Gross sales of assets other than inventory

  securities $87,799,077 · other assets $103,665

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

  securities $82,841,037 · other assets $242,736

• 7c · Gain or loss

  securities $4,958,040 · other assets -$139,071

• 7d · Net gain or loss

  total $4,818,969 · excluded $4,818,969

• 8a · Fundraising events: gross income

  $58,860

• 8a · Fundraising events: contributions included on line 1c

  $140,717

• 8b · Fundraising events: direct expenses

  $94,081

• 8c · Net income from fundraising events

  total -$35,221 · excluded -$35,221

• 10a · Gross sales of inventory

  $549,396

• 10b · Cost of goods sold

  $317,460

• 10c · Net income from sales of inventory

  total $231,936 · excluded $231,936

• 11a · Other revenue: CAFETERIA INCOME

  total $3,139,885 · excluded $3,139,885

• 11e · Other revenue, total

  $3,139,885

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $481,976 · program services $481,976

• 2 · Grants to domestic individuals

  total $67,200 · program services $67,200

• 5 · Compensation of officers, directors and key employees

  total $9,947,907 · program services $8,049,737 · management and general $1,878,456 · fundraising $19,714

• 6 · Compensation of disqualified persons

  total $1,460,430 · program services $1,183,977 · management and general $273,553 · fundraising $2,900

• 7 · Other salaries and wages

  total $405,398,106 · program services $328,658,185 · management and general $75,935,021 · fundraising $804,900

• 8 · Pension plan contributions

  total $16,178,154 · program services $14,306,601 · management and general $1,827,694 · fundraising $43,859

• 9 · Other employee benefits

  total $55,808,750 · program services $49,148,206 · management and general $6,511,263 · fundraising $149,281

• 10 · Payroll taxes

  total $29,853,442 · program services $26,280,866 · management and general $3,492,816 · fundraising $79,760

• 11a · Fees: management

  total $4,468,830 · program services $2,883,680 · management and general $1,585,150

• 11b · Fees: legal

  total $5,197,325 · program services $227,844 · management and general $4,969,481

• 11c · Fees: accounting

  total $353,000 · management and general $353,000

• 11d · Fees: lobbying

  total $191,765 · program services $10,634 · management and general $181,131

• 11f · Fees: investment management

  total $420,153 · management and general $420,153

• 11g · Fees: other

  total $120,518,466 · program services $107,662,340 · management and general $12,604,394 · fundraising $251,732

• 12 · Advertising and promotion

  total $2,526,752 · program services $3,984 · management and general $2,516,829 · fundraising $5,939

• 13 · Office expenses

  total $8,047,823 · program services $4,457,836 · management and general $3,558,832 · fundraising $31,155

• 14 · Information technology

  total $21,817,065 · program services $2,643,540 · management and general $19,172,157 · fundraising $1,368

• 16 · Occupancy

  total $20,958,812 · program services $11,824,264 · management and general $9,134,548

• 17 · Travel

  total $2,073,683 · program services $1,761,607 · management and general $304,712 · fundraising $7,364

• 19 · Conferences, conventions and meetings

  total $192,216 · program services $59,051 · management and general $124,543 · fundraising $8,622

• 20 · Interest

  total $6,999,290 · program services $6,999,290

• 22 · Depreciation, depletion and amortization

  total $55,856,773 · program services $41,768,657 · management and general $14,066,181 · fundraising $21,935

• 23 · Insurance

  total $5,383,225 · management and general $5,383,225

• 24a · Other expenses: PHARMACEUTICALS

  total $135,764,379 · program services $135,764,379

• 24b · Other expenses: MEDICAL SUPPLIES/LINENS

  total $132,815,849 · program services $131,819,477 · management and general $942,870 · fundraising $53,502

• 24c · Other expenses: TAXES

  total $106,462 · program services $376 · management and general $106,086

• 24d · Other expenses: HLTH SAFETY NET ASSESSM

  total $27,137,819 · program services $27,137,819

• 24e · All other expenses

  total $39,560,586 · program services $18,655,454 · management and general $20,786,048 · fundraising $119,084

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $35,453,966 · end of year $65,926,948

• 3 · Pledges and grants receivable

  beginning of year $1,492,985 · end of year $1,365,172

• 4 · Accounts receivable

  beginning of year $102,910,352 · end of year $116,605,571

• 8 · Inventories for sale or use

  beginning of year $19,753,939 · end of year $19,626,287

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,201,732 · end of year $14,923,994

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

  $1,006,244,850

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

  $690,344,381

• 10c · Land, buildings and equipment, net

  beginning of year $323,359,063 · end of year $315,900,469

• 11 · Investments: publicly traded securities

  beginning of year $373,659,257 · end of year $432,252,805

• 12 · Investments: other securities

  beginning of year $79,498,847 · end of year $86,013,057

• 13 · Investments: program-related

  beginning of year $1,120,200 · end of year $218,704

• 14 · Intangible assets

  end of year $1,981,296

• 15 · Other assets

  beginning of year $95,222,503 · end of year $103,843,058

• 17 · Accounts payable and accrued expenses

  beginning of year $156,697,573 · end of year $176,754,650

• 20 · Tax-exempt bond liabilities

  beginning of year $200,088,770 · end of year $189,907,982

• 23 · Secured mortgages and notes payable

  beginning of year $38,403,334 · end of year $36,155,334

• 25 · Other liabilities

  beginning of year $51,890,529 · end of year $54,276,266

• 27 · Net assets without donor restrictions

  beginning of year $514,870,413 · end of year $604,545,553

• 28 · Net assets with donor restrictions

  beginning of year $82,722,225 · end of year $97,017,576

The filer's explanations (Part III)

PART I, LINES 4A-B

PART I, LINE 4A: A SEVERANCE PAYMENT OF $1,615,731 (NET OF WITHHOLDING) WAS MADE DURING THE REPORTING PERIOD TO KEITH HOVAN. PART I, LINE 4B: 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 - $124,038 STEPHEN CANESSA - $62,852 WADE BROUGHMAN - $148,443 JAQUELINE SOMERVILLE - $71,664 LAUREN DESIMON JOHNSON - $61,092 STEPHEN PIRES - $60,882 JAMES FEEN - $92,083

PART I, LINE 7

THE SOUTHCOAST HEALTH SYSTEM EXECUTIVE COMPENSATION PLAN (THE PLAN) ESTABLISHED 10/15/2008, AND UPDATED FROM TIME TO TIME, 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 REMAINS IN EFFECT AT THE DISCRETION AND JUDGEMENT OF THE COMMITTEE.

FORM 990, PART VII, SECTION A, LINE 5 AND SCHEDULE J:

THE FOLLOWING TRUSTEES ARE COMPENSATED BY AN UNRELATED ORGANIZATION FOR SERVICES RENDERED TO SHG. SOUTHERN NEW ENGLAND RADIOLOGY PAID THEM COMPENSATION IN THE AMOUNTS NOTED BELOW RELATED TO SERVICES PROVIDED TO SHG. SALMAN BASHIR, MD - $2,858 ROBERT RONAN, MD - $22,339 JOHN MUNGOVAN, MD - $141,402

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 - $120,300 JAMES FEEN - $77,628 STEPHEN CANESSA - $59,370 LAUREN DESIMON JOHNSON - $59,250

Disregarded entities

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

• SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC

  HOLDING CO. · MA · income $66,580 · assets $2,300,000

  Directly controlled by SOUTHCOAST HOSPITALS GROUP INC

Related corporations and trusts

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

• COASTLINE PROFESSIONAL ASSURANCE CORP LTD

  C · INSURANCE · CJ · controlled entity

• HEALTH MANAGEMENT INITIVES INC

  C · COMM RENTALS · MA · controlled entity

• SAME DAY SURGICARE OF NE INC

  S · MEDICAL SERVICES · MA · 49.07% owned · share of income $66,580 · share of assets $267,263 · controlled entity

  Directly controlled by SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC