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Nonprofiteer
← SOMC MEDICAL GROUP PC

Form 990 for tax year 2023

Filed by SOMC MEDICAL GROUP PC.

Totals

Total revenue
$15,259,320
Total expenses
$15,258,677
Contributions and grants received
$642
Grants paid
$112,992
Program services expenses (Part IX)
$14,416,723
Management and general expenses
$841,954
Fundraising expenses
$0
Program service expenses (Part III)
$14,416,723

Program services were 94.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • KENNETH N SABLE MD

    VICE PRESIDENT & SECRETARY

    Total calculated
    $1,984,310
    From this org
    $0
    From related orgs
    $1,748,362
    Other
    $235,948
    Hours/week
    2.5

    Schedule J breakdown matched by us

    Base
    $0 + $1,126,052 related
    Bonus
    $0 + $411,292 related
    Other
    $0 + $211,018 related
    Deferred
    $0 + $192,662 related
    Nontaxable benefits
    $0 + $43,286 related
    Filer's total
    $0 + $1,984,310 related

  • JAMES CLARKE MD

    PRESIDENT & TREASURER

    Total calculated
    $1,237,100
    From this org
    $0
    From related orgs
    $1,192,682
    Other
    $44,418
    Hours/week
    2.5

    Schedule J breakdown matched by us

    Base
    $0 + $701,545 related
    Bonus
    $0 + $307,832 related
    Other
    $0 + $183,305 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $27,918 related
    Filer's total
    $0 + $1,237,100 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 — 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)

Pt I Line 3
PLEASE REFER TO OUR RESPONSE TO CORE FORM, PART VI, QUESTION 15A INCLUDED IN SCHEDULE O.
Pt I Line 4b
THE AMOUNT REFLECTED IN COLUMN B(III) FOR THE FOLLOWING INDIVIDUAL(S) INCLUDES PARTICIPATION IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) AS THE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUALS 2023 FORM W-2 AS TAXABLE WAGES: JAMES CLARKE, MD, $110,891 AND KENNETH N. SABLE, MD, $164,599.
Pt I Line 4b
THE DEFERRED COMPENSATION AMOUNTS REFLECTED IN COLUMN (C) FOR THE FOLLOWING INDIVIDUAL(S) INCLUDE BENEFITS IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN). THESE AMOUNTS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. THESE INDIVIDUAL(S) WILL NOT EARN THE RIGHT TO RECEIVE THE DEFERRED COMPENSATION AMOUNTS UNLESS AND UNTIL THEY PROVIDE SUBSTANTIAL FUTURE SERVICES TO THE ORGANIZATION. WHEN THE FUTURE SERVICES REQUIREMENT IS MET, THE AMOUNTS WILL BECOME VESTED, WILL BE TAXED, WILL BE INCLUDED ON THE W-2, AND WILL BE REPORTED AGAIN ON THIS SCHEDULE: KENNETH N. SABLE, MD.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202413189349304121

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