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Nonprofiteer
← NORTON HOSPITALS INC

Form 990 for tax year 2023

Filed by NORTON HOSPITALS INC.

Totals

Total revenue
$2,999,781,942
Total expenses
$2,612,252,937
Contributions and grants received
$7,071,458
Grants paid
$0
Program service revenue
$2,985,477,061
Investment income
$0
Other revenue
$7,233,423
Total assets, end of year
$3,977,045,908
Total liabilities, end of year
$136,079,908
Net assets or fund balances, end of year
$3,840,966,000
Program services expenses (Part IX)
$2,562,853,316
Management and general expenses
$49,399,621
Fundraising expenses
$0
Program service expenses (Part III)
$2,562,853,316

Program services were 98.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $7,071,458

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $156,562

  • 2a · Program service revenue: Net Patient Revenue

    total $2,985,226,474 · related or exempt $2,985,226,474

  • 2b · Program service revenue: Healthcare Education

    total $250,587 · related or exempt $250,587

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $1,046,664

  • 6b · Less rental expenses

    real property $1,486,622

  • 6c · Rental income or loss

    real property -$439,958 · personal property $0

  • 6d · Net rental income or loss

    total -$439,958 · excluded -$439,958

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: PURCHASING CO-OP INC

    total $3,601,272 · related or exempt $3,601,272

  • 11b · Other revenue: PARKING INCOME

    total $1,820,012 · excluded $1,820,012

  • 11c · Other revenue: Other

    total $1,577,769 · related or exempt $1,577,769

  • 11d · All other revenue

    total $674,328 · related or exempt $674,328 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $7,673,381

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $4,078,636 · program services $4,078,636

  • 6 · Compensation of disqualified persons

    total $1,070,617 · program services $1,070,617

  • 7 · Other salaries and wages

    total $809,755,813 · program services $809,755,813

  • 8 · Pension plan contributions

    total $38,470,054 · program services $38,470,054

  • 9 · Other employee benefits

    total $78,230,616 · program services $78,230,616

  • 10 · Payroll taxes

    total $55,617,085 · program services $55,617,085

  • 11g · Fees: other

    total $234,313,166 · program services $234,313,166 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $12,534,416 · program services $12,534,416

  • 16 · Occupancy

    total $27,910,378 · program services $27,910,378

  • 17 · Travel

    total $732,499 · program services $732,499

  • 20 · Interest

    total $50,426,761 · program services $50,426,761

  • 22 · Depreciation, depletion and amortization

    total $96,874,106 · program services $96,874,106

  • 23 · Insurance

    total $13,771,915 · program services $13,771,915

  • 24a · Other expenses: Medical Supplies

    total $728,949,992 · program services $728,949,992

  • 24b · Other expenses: Allocated Support

    total $329,330,807 · program services $279,931,186 · management and general $49,399,621

  • 24c · Other expenses: Provider Tax/HRIP Expenses

    total $101,383,759 · program services $101,383,759

  • 24d · Other expenses: Repairs & Maintenance

    total $21,606,577 · program services $21,606,577

  • 24e · All other expenses

    total $7,195,740 · program services $7,195,740 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,300 · end of year $7,800

  • 4 · Accounts receivable

    beginning of year $269,416,878 · end of year $337,945,431

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $68,934,055 · end of year $66,021,642

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,035,077 · end of year $3,673,144

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

    $2,265,160,987

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

    $1,361,264,169

  • 10c · Land, buildings and equipment, net

    beginning of year $930,629,351 · end of year $903,896,818

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $7,445,984 · end of year $7,626,123

  • 15 · Other assets

    beginning of year $2,340,621,315 · end of year $2,657,874,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $147,954,845 · end of year $118,121,476

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $18,431,598 · end of year $17,958,432

  • 27 · Net assets without donor restrictions

    beginning of year $3,451,498,916 · end of year $3,837,895,952

  • 28 · Net assets with donor restrictions

    beginning of year $2,205,601 · end of year $3,070,048

Mission and programs · 2023

Mission

Norton Hospitals, Inc.'s purpose is to provide quality health care to all those we serve, in a manner that responds to the needs of our communities and faith heritage.

  • Norton Hospitals, Inc. (NHI) was formed to: I) provide on a nonprofit basis, hospital or health care facilities and services for the care and treatment of ill and injured persons and those who otherwise require medical care and related services of the kind customarily furnished most effectively by hospitals or health care facilities; II) conduct educational activities related to rendering care to the sick and injured; III) promote and conduct scientific research related to the care of the sick and injured. NHI has a total of 1,907 licensed beds, Norton Hospital - 605 beds; Norton Children's Hospital - 300 beds; Norton Audubon Hospital - 432 beds; Norton Women's and Children's Hospital - 373 beds; and Norton Brownsboro Hospital - 197 beds. These hospitals operate twenty-four (24) hours a day, seven (7) days a week. In 2023, NHI's hospitals, diagnostic centers and Norton Cancer Institute served 67,543 inpatients, 699,244 outpatients, 261,014 emergency department visits, and 34,907 observation cases. In addition, NHI's operating rooms cared for 16,908 inpatient surgical patients and 41,152 outpatient surgical patients. Additionally, 8,477 deliveries were performed at NHI birthing centers. As part of our commitment to improving the health of our community, NHI provides funding for a wide array of lifesaving and life-enhancing services that benefit the communities we serve. In 2023, under its charity care program, NHI provided free care to 4,407 patients, at a cost of $21.1 million. Also, Norton Healthcare, Inc. (NHC), parent company of NHI, grants a discount from billed charges to any patients who have no access to private health insurance or do not qualify for government assistance or charity care. Under this program, 6,812 patients were provided care at discounted rates. Another contribution to the community was educational support of $76.1 million, primarily to the University of Louisville (UofL) School of Medicine. Community health improvement services totaled $48 million and contributions to community groups were $2.3 million. NHC provides programmatic support to the UofL School of Medicine through funding and facilities. During the 2023 calendar year, 206 residents completed clinical rotations in 53 specialties at NHC facilities. Residency programs are part of the $76.1 million in educational support and clinical funding provided to the medical school.

    Expenses $2,562,853,316 · Revenue $2,991,330,430

As filed on the 2023 return.

Listed in Part VII

  • Russell F Cox

    President & CEO/Trustee

    Total calculated
    $3,485,645
    From this org
    $0
    From related orgs
    $3,068,539
    Other
    $417,106
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,548,059 related
    Bonus
    $0 + $816,092 related
    Other
    $0 + $704,388 related
    Deferred
    $0 + $378,897 related
    Nontaxable benefits
    $0 + $38,209 related
    Filer's total
    $0 + $3,485,645 related
  • Barry Pennybaker

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Craig D Grant

    Vice Chair

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 4.5 related
  • Donald H Robinson

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 6.5 related
  • Edie Nixon

    Chair

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 15.5 related
  • Erwin Roberts

    Trustee (PARTIAL YEAR)

    Total calculated
    $0
    Hours/week
    1 + 2.5 related
  • G Hunt Rounsavall Sr

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 6.5 related
  • Gail Lyttle

    Trustee (PARTIAL YEAR)

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Gary L Stewart

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 6.5 related
  • Gregory E Mayes

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 5.5 related
  • James L Sublett MD

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Joe Craig

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 4.5 related
  • Judge Denise Clayton

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Lee K Garlove

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Maria Hampton

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Maria L Bouvette

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Martha K Heyburn MD

    Trustee (PARTIAL YEAR)

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Rev William J Schultz

    Trustee (PARTIAL YEAR)

    Total calculated
    $0
    Hours/week
    1 + 2.5 related
  • Richard R Ivey

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 3.5 related
  • Richard S Wolf MD

    Chair Emeritus (partial year)

    Total calculated
    $0
    Hours/week
    1 + 2.5 related
  • Rita Hudson Shourds EdD

    Trustee (partial year)

    Total calculated
    $0
    Hours/week
    1 + 2.5 related
  • Ronald Lehocky MD

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 5.5 related
  • Sue Davis EdD RN

    Trustee

    Total calculated
    $2,000
    From this org
    $0
    From related orgs
    $2,000
    Other
    $0
    Hours/week
    1 + 5.5 related
  • Adam Kempf

    Sr VP, CFO/Treasurer

    Total calculated
    $1,364,768
    From this org
    $0
    From related orgs
    $1,141,705
    Other
    $223,063
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $755,209 related
    Bonus
    $0 + $281,470 related
    Other
    $0 + $105,026 related
    Deferred
    $0 + $175,860 related
    Nontaxable benefits
    $0 + $47,203 related
    Filer's total
    $0 + $1,364,768 related
  • Michael W Gough

    Exec VP and COO

    Total calculated
    $2,111,840
    From this org
    $0
    From related orgs
    $1,823,008
    Other
    $288,832
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,046,012 related
    Bonus
    $0 + $510,862 related
    Other
    $0 + $266,134 related
    Deferred
    $0 + $260,502 related
    Nontaxable benefits
    $0 + $28,330 related
    Filer's total
    $0 + $2,111,840 related
  • Robert B Azar

    Sr VP Chief Legal Officer/Secretary

    Total calculated
    $1,191,460
    From this org
    $0
    From related orgs
    $1,021,584
    Other
    $169,876
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $630,680 related
    Bonus
    $0 + $266,833 related
    Other
    $0 + $124,071 related
    Deferred
    $0 + $150,278 related
    Nontaxable benefits
    $0 + $19,598 related
    Filer's total
    $0 + $1,191,460 related
  • Charlotte Ipsan

    Hospital CAO

    Total calculated
    $917,316
    From this org
    $764,207
    From related orgs
    $0
    Other
    $153,109
    Hours/week
    29 + 21 related

    Schedule J breakdown matched by us

    Base
    $479,845
    Bonus
    $199,803
    Other
    $84,559
    Deferred
    $123,459
    Nontaxable benefits
    $29,650
    Filer's total
    $917,316
  • Emmett Ramser

    Hospital CAO

    Total calculated
    $649,914
    From this org
    $540,957
    From related orgs
    $0
    Other
    $108,957
    Hours/week
    49 + 1 related

    Schedule J breakdown matched by us

    Base
    $127,633
    Bonus
    $122,323
    Other
    $291,001
    Deferred
    $61,192
    Nontaxable benefits
    $47,765
    Filer's total
    $649,914
  • Joseph Flynn DO

    CAO NMG - Physician -in-Chief NCI

    Total calculated
    $1,294,628
    From this org
    $1,137,280
    From related orgs
    $0
    Other
    $157,348
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $670,131
    Bonus
    $227,675
    Other
    $239,474
    Deferred
    $126,680
    Nontaxable benefits
    $30,668
    Filer's total
    $1,294,628
  • Karen Donahue

    Division VP Finance

    Total calculated
    $555,392
    From this org
    $461,314
    From related orgs
    $0
    Other
    $94,078
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $306,931
    Bonus
    $81,984
    Other
    $72,399
    Deferred
    $65,587
    Nontaxable benefits
    $28,491
    Filer's total
    $555,392
  • Matthew Ayers

    Hospital CAO

    Total calculated
    $661,386
    From this org
    $555,124
    From related orgs
    $0
    Other
    $106,262
    Hours/week
    49 + 1 related

    Schedule J breakdown matched by us

    Base
    $365,453
    Bonus
    $131,042
    Other
    $58,629
    Deferred
    $77,340
    Nontaxable benefits
    $28,922
    Filer's total
    $661,386
  • Aaron Spalding MD

    Physician

    Total calculated
    $1,696,813
    From this org
    $1,615,977
    From related orgs
    $0
    Other
    $80,836
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $982,536
    Bonus
    $481,693
    Other
    $151,748
    Deferred
    $20,479
    Nontaxable benefits
    $60,357
    Filer's total
    $1,696,813
  • Joseph Maly MD

    Physician

    Total calculated
    $1,512,081
    From this org
    $1,452,235
    From related orgs
    $0
    Other
    $59,846
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $842,417
    Bonus
    $573,668
    Other
    $36,150
    Deferred
    $12,100
    Nontaxable benefits
    $47,746
    Filer's total
    $1,512,081
  • Muneeb Choudry MD

    Physician

    Total calculated
    $1,286,746
    From this org
    $1,243,021
    From related orgs
    $0
    Other
    $43,725
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $222,718
    Bonus
    $969,806
    Other
    $50,497
    Deferred
    $21,589
    Nontaxable benefits
    $22,136
    Filer's total
    $1,286,746
  • Paul Tennant

    Physician

    Total calculated
    $1,353,366
    From this org
    $1,297,403
    From related orgs
    $0
    Other
    $55,963
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $588,086
    Bonus
    $707,068
    Other
    $2,249
    Deferred
    $16,500
    Nontaxable benefits
    $39,463
    Filer's total
    $1,353,366
  • Shawn Glisson MD

    Physician

    Total calculated
    $1,563,305
    From this org
    $1,502,960
    From related orgs
    $0
    Other
    $60,345
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $886,981
    Bonus
    $577,264
    Other
    $38,715
    Deferred
    $18,479
    Nontaxable benefits
    $41,866
    Filer's total
    $1,563,305
  • Andrew Strausbaugh

    Former Hospital CAO

    Total calculated
    $493,910
    From this org
    $443,274
    From related orgs
    $0
    Other
    $50,636
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    -$4,684
    Bonus
    $98,648
    Other
    $349,310
    Deferred
    $24,351
    Nontaxable benefits
    $26,285
    Filer's total
    $493,910

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

  • 1a · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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)

Schedule J, Part I, Line 1a Discretionary spending account
DISCRETIONARY SPENDING ACCOUNTS ARE TREATED AS TAXABLE COMPENSATION. THE ORGANIZATION PROVIDES A DISCRETIONARY SPENDING ACCOUNT FOR ELIGIBLE NORTON HEALTHCARE, INC. (NHC) EXECUTIVES, EFFECTIVE OCTOBER 1, 2007. NHC PROVIDES BENEFITS TO ITS IDENTIFIED EXECUTIVE STAFF TO PROVIDE A TOTAL COMPENSATION PACKAGE THAT IS COMPETITIVE WITH THE MARKET AND WHICH CONFORMS TO THE PHILOSOPHY AND GUIDELINES SET OUT BY THE BOARD OF TRUSTEES, THROUGH THE EXECUTIVE COMPENSATION PHILOSOPHY AND PROGRAMS. THROUGH THE DISCRETIONARY SPENDING ACCOUNT POLICY, EXECUTIVES ARE FREE TO CHOOSE WHATEVER BENEFITS THEY FIND MOST USEFUL OR IMPORTANT TO THEM AND NHC DOES NOT REIMBURSE FOR THE COST OF THOSE BENEFITS, AS THEY ARE PART OF THE DISCRETIONARY SPENDING ACCOUNT. THE INTERESTED PERSONS LISTED BELOW RECEIVED THE BENEFIT OF A DISCRETIONARY SPENDING ACCOUNT IN 2023: Matthew Ayers Charlotte Ipsan Joseph Flynn Emmett Ramser Karen Donahue
Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
NORTON HEALTHCARE INC (NHC) EIN 61-1028725 IS THE PARENT ORGANIZATION FOR NORTON HOSPITALS, INC. AND THEREFORE ESTABLISHES COMPENSATION FOR THE CEO, OFFICERS AND KEY EMPLOYEES THROUGH ENGAGING WITH THE EXECUTIVE COMMITTEE OF NHC; AN INDEPENDENT COMPENSATION CONSULTANT; REVIEW OF OTHER ORGANIZATION'S FORM 990; WRITTEN EMPLOYMENT AGREEMENTS; THIRD PARTY COMPENSATION SURVEYS AND APPROVAL BY THE EXECUTIVE COMMITTEE AND BOARD. SEE NARRATIVE IN SCHEDULE O, REFERENCING PART VI, LINE 15 WHICH FURTHER DESCRIBES THE PROCESS FOR DETERMINING COMPENSATION FOR THE ORGANIZATION.
Schedule J, Part I, Line 4a Severance or change-of-control payment
Severance payment was received during 2023 by Key Employee, Andrew Strausbaugh in the amount of $266,290. Other compensation included in Schedule J Column B(iii). Severance payment was received during 2023 by Key Employee, Emmett Ramser in the amount of $195,686. Other compensation included in Schedule J Column B(iii).
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING INTERESTED PERSONS PARTICIPATED IN OR RECEIVED PAYMENT FROM SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS AS DESCRIBED IN IRC SECTION 457(F). THE INTERESTED PERSONS BELOW MAY HAVE PARTICIPATED IN ONE OR MORE OF THE FOLLOWING PLANS: THE EXECU-PLUS BENEFIT PLAN, DEFINED BENEFIT AND DEFINED CONTRIBUTION RESTORATION PLANS, AND THE PHYSICIAN DEFERRED PLAN. THE "PAY CREDIT" OUTLINED BELOW REPRESENTS A REASONABLE ESTIMATE OF THE ANNUAL INCREASE IN ACTUARIAL VALUE OF THE PLANS; AND THEREFORE, REPRESENTS THE ORGANIZATION'S CONTRIBUTION TO THE VALUE OF THE BENEFITS. NAME - PAY CREDIT Russell F. Cox - $345,765 Michael W. Gough - $228,527 Robert Azar - $127,409 Adam Kempf - $153,943 Matthew Ayers - $56,145 Charlotte Ipsan - $94,302 Joseph Flynn - $110,180 Andrew Strausbaugh - $2,353 Emmett Ramser - $27,625 Karen Donahue - $45,487 THE "PAYMENT RECEIVED" OUTLINED BELOW REPRESENTS CASH PAYMENTS THAT THE EMPLOYEE RECEIVED DURING 2023 AND CAN BE COMPRISED OF CURRENT AND OR PRIOR YEARS EMPLOYEE AND EMPLOYER CONTRIBUTIONS. NAME - PAYMENT RECEIVED Russell F. Cox - $283,857 Michael W. Gough - $114,222 Robert Azar - $68,880 Adam Kempf - $63,188 Matthew Ayers - $34,916 Charlotte Ipsan - $37,072 Joseph Flynn - $212,417 Andrew Strausbaugh - $72,201 Emmett Ramser - $54,108 Karen Donahue - $30,279
Schedule J, Part I, Line 7 Non-fixed payments
In 2023, Norton Healthcare, Inc. (NHC) had in place a Variable Compensation Plan for Executives, eligibility under which extended to employees holding a full-time position as Senior Officer, Officer, System Director or other designated Director level position. Under the plan, a variable compensation pool amount is approved by the Board of Trustees. Each participant's performance is evaluated relative to the goals and objectives documented as part of the participant's plan; and an award is determined for the participant, based on achievement of the goals and objectives, subject to the funding of the variable compensation pool. At the end of each year, the Committee on Executive Compensation and Benefits determines an appropriate award for the NHC's President & Chief Executive Officer, and the President & Chief Executive Officer recommends appropriate awards for other senior executives to the Committee on Executive Compensation and Benefits for its review and approval.

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 corporations and trusts

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

  • NORTON ENTERPRISES INC

    C Corporation · Invests in partnerships that provide medical services. · KY

    Directly controlled by Norton Healthcare Inc

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443179349300429

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