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Nonprofiteer
← COVENANT HEALTH INC

Form 990 for tax year 2022

Filed by COVENANT HEALTH INC.

Totals

Total revenue
$80,912,625
Total expenses
$79,496,874
Contributions and grants received
$138,942
Grants paid
$85,695
Program service revenue
$79,370,149
Investment income
$1,403,534
Other revenue
$0
Total assets, end of year
$348,125,512
Total liabilities, end of year
$242,959,132
Net assets or fund balances, end of year
$105,166,380
Program services expenses (Part IX)
$66,585,739
Management and general expenses
$12,911,135
Fundraising expenses
$0
Program service expenses (Part III)
$66,585,739

Program services were 83.8% 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.

  • 1f · All other contributions, gifts and grants

    $138,942

  • 2a · Program service revenue: Membership and other fees

    total $79,370,149 · related or exempt $79,370,149

  • 3 · Investment income

    total $382,456 · unrelated business $10,863 · excluded $371,593

  • 7a · Gross sales of assets other than inventory

    securities $54,293,445

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

    securities $53,272,367

  • 7c · Gain or loss

    securities $1,021,078

  • 7d · Net gain or loss

    total $1,021,078 · excluded $1,021,078

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $85,695 · program services $85,695

  • 5 · Compensation of officers, directors and key employees

    total $3,978,937 · program services $3,533,423 · management and general $445,514

  • 7 · Other salaries and wages

    total $24,430,647 · program services $21,696,655 · management and general $2,733,992

  • 8 · Pension plan contributions

    total $601,085 · program services $533,301 · management and general $67,784

  • 9 · Other employee benefits

    total $2,263,042 · program services $2,007,840 · management and general $255,202

  • 10 · Payroll taxes

    total $1,960,874 · program services $1,741,436 · management and general $219,438

  • 11a · Fees: management

    total $560,764 · management and general $560,764

  • 11b · Fees: legal

    total $714,391 · management and general $714,391

  • 11c · Fees: accounting

    total $67,167 · management and general $67,167

  • 11g · Fees: other

    total $20,814,114 · program services $15,928,076 · management and general $4,886,038

  • 12 · Advertising and promotion

    total $733,417 · program services $561,250 · management and general $172,167

  • 13 · Office expenses

    total $743,109 · program services $568,667 · management and general $174,442

  • 14 · Information technology

    total $8,680,045 · program services $6,642,436 · management and general $2,037,609

  • 16 · Occupancy

    total $732,815 · program services $560,789 · management and general $172,026

  • 17 · Travel

    total $594,983 · program services $455,313 · management and general $139,670

  • 20 · Interest

    total $3,230,359 · program services $3,230,359

  • 22 · Depreciation, depletion and amortization

    total $8,125,921 · program services $8,125,921

  • 23 · Insurance

    total $194,653 · program services $148,959 · management and general $45,694

  • 24a · Other expenses: Recruitment/relations

    total $933,932 · program services $714,695 · management and general $219,237

  • 24b · Other expenses: Dietary supplies

    total $49,999 · program services $49,999

  • 24c · Other expenses: Provider Tax

    total $925 · program services $925

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,958,514 · end of year $14,155,534

  • 2 · Savings and temporary cash investments

    beginning of year $1,151,182 · end of year $1,130,804

  • 4 · Accounts receivable

    beginning of year $1,941,441 · end of year $2,763,046

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,441,829 · end of year $4,540,340

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

    $92,198,410

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

    $30,992,873

  • 10c · Land, buildings and equipment, net

    beginning of year $67,249,389 · end of year $61,205,537

  • 12 · Investments: other securities

    beginning of year $83,616,993 · end of year $38,845,845

  • 14 · Intangible assets

    beginning of year $606,360 · end of year $248,673

  • 15 · Other assets

    beginning of year $160,807,573 · end of year $225,235,733

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,932,086 · end of year $19,552,946

  • 19 · Deferred revenue

    beginning of year $4,167 · end of year $4,167

  • 23 · Secured mortgages and notes payable

    beginning of year $222,987,523 · end of year $223,055,739

  • 25 · Other liabilities

    beginning of year $874,056 · end of year $346,280

  • 27 · Net assets without donor restrictions

    beginning of year $102,717,313 · end of year $6,979,401

  • 28 · Net assets with donor restrictions

    beginning of year $258,136 · end of year $98,186,979

Mission and programs · 2022

Mission

Covenant Health is an innovative Catholic health organization committed to advancing the healing ministry of Jesus.

Activities or mission (Part I)

Covenant Health is a Catholic health care system sponsoring hospitals, nursing homes, assisted living residences, and other health and elder services throughout New England. The Organization is committed to the health of the individuals and communities it serves, and the Organization strives to offer a continuum of high quality care. Please see the Organization's website for the 2020 Covenant Health Corporate Report.

  • Sponsoring and operating a Catholic health care system consisting of hospitals, nursing homes, assisted living residences, and other health and elder services, as well as furthering the delivery of health and human services consistent with the teachings and law of the Roman Catholic Church.

    Expenses $66,585,739 · Grants $85,695 · Revenue $79,370,149

As filed on the 2022 return.

Listed in Part VII

  • Stephen Grubbs

    President & CEO

    Total calculated
    $890,263
    From this org
    $853,102
    From related orgs
    $0
    Other
    $37,161
    Hours/week
    40 + 5.5 related

    Schedule J breakdown matched by us

    Base
    $775,120
    Bonus
    $50,000
    Other
    $27,982
    Deferred
    $9,150
    Nontaxable benefits
    $28,011
    Filer's total
    $890,263

  • Lesley Adkinson E PhD RN

    Director

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Mark W Anthoine Sr

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Bruce Bonnell MD MPH

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Aisha Barlatier-Bonny

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Kathy Connerton JD MBA

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Catherine P Lovecchio PhD RN

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • William P Lucy

    Director

    Total calculated
    $0
    Hours/week
    2 + 1.5 related

  • Thomas Mortimer

    Director

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Cherie Noe MD

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Sr Catherine O'Connor

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Gino J Pazzaglini

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Louise Trottier

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • John Oliverio

    Chair

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Kenneth E Arnold

    Vice Chair

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Stephen Forney

    SVP and Chief Financial Officer

    Total calculated
    $556,000
    From this org
    $512,632
    From related orgs
    $0
    Other
    $43,368
    Hours/week
    40 + 1.6 related

    Schedule J breakdown matched by us

    Base
    $486,569
    Bonus
    $20,000
    Other
    $6,063
    Deferred
    $9,150
    Nontaxable benefits
    $34,218
    Filer's total
    $556,000

  • Douglas Waite

    SVP and Chief Medical Officer

    Total calculated
    $613,465
    From this org
    $574,000
    From related orgs
    $0
    Other
    $39,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $484,726
    Bonus
    $80,000
    Other
    $9,274
    Deferred
    $4,220
    Nontaxable benefits
    $35,245
    Filer's total
    $613,465

  • John Newman

    SVP General Counsel

    Total calculated
    $502,143
    From this org
    $458,680
    From related orgs
    $0
    Other
    $43,463
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $438,680
    Bonus
    $20,000
    Other
    $0
    Deferred
    $9,150
    Nontaxable benefits
    $34,313
    Filer's total
    $502,143

  • John Emerson

    SVP Integrated Medical Group

    Total calculated
    $455,599
    From this org
    $430,199
    From related orgs
    $0
    Other
    $25,400
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $380,621
    Bonus
    $15,000
    Other
    $34,578
    Deferred
    $6,236
    Nontaxable benefits
    $19,164
    Filer's total
    $455,599

  • Gerard Foley

    SVP & President Post Acute Care

    Total calculated
    $250,868
    From this org
    $228,685
    From related orgs
    $0
    Other
    $22,183
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,260
    Bonus
    $15,000
    Other
    $4,425
    Deferred
    $5,408
    Nontaxable benefits
    $16,775
    Filer's total
    $250,868

  • Karen Bowling

    SVP & Chief Information Officer

    Total calculated
    $374,309
    From this org
    $353,622
    From related orgs
    $0
    Other
    $20,687
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,490
    Bonus
    $15,000
    Other
    $5,132
    Deferred
    $8,393
    Nontaxable benefits
    $12,294
    Filer's total
    $374,309

  • James Coffey

    CH SVP; President, CH Foundation

    Total calculated
    $336,290
    From this org
    $291,264
    From related orgs
    $0
    Other
    $45,026
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $272,843
    Bonus
    $15,000
    Other
    $3,421
    Deferred
    $7,481
    Nontaxable benefits
    $37,545
    Filer's total
    $336,290

  • John Jurczyk

    SVP & President, SJH Nashu

    Total calculated
    $525,913
    From this org
    $489,171
    From related orgs
    $0
    Other
    $36,742
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $451,619
    Bonus
    $28,824
    Other
    $8,728
    Deferred
    $9,150
    Nontaxable benefits
    $27,592
    Filer's total
    $525,913

  • Steven Jorgensen

    SVP & President, SMHS Lewiston

    Total calculated
    $525,913
    From this org
    $491,652
    From related orgs
    $0
    Other
    $34,261
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $433,600
    Bonus
    $28,824
    Other
    $29,228
    Deferred
    $9,150
    Nontaxable benefits
    $25,111
    Filer's total
    $525,913

  • Mary Prybylo

    SVP & President, SJH Bangor

    Total calculated
    $482,201
    From this org
    $436,469
    From related orgs
    $0
    Other
    $45,732
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $397,526
    Bonus
    $27,282
    Other
    $11,661
    Deferred
    $9,150
    Nontaxable benefits
    $36,582
    Filer's total
    $482,201

  • Brian Sweeney

    System Physician Advisor

    Total calculated
    $401,641
    From this org
    $356,940
    From related orgs
    $0
    Other
    $44,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $336,451
    Bonus
    $0
    Other
    $20,489
    Deferred
    $8,191
    Nontaxable benefits
    $36,510
    Filer's total
    $401,641

  • Ivan Ip

    SVP & Chief Medical Info. Officer

    Total calculated
    $402,273
    From this org
    $361,013
    From related orgs
    $0
    Other
    $41,260
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $360,408
    Bonus
    $0
    Other
    $605
    Deferred
    $7,757
    Nontaxable benefits
    $33,503
    Filer's total
    $402,273

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Part I, Line 3
Every two-to-three years the Compensation Committee of the Covenant Health Board of Directors engages an external consultant to provide competitive market data from various survey sources, which is then used to develop recommendations for changes to the compensation program. Since 2003, the Compensation Committee has engaged a human resources consultant to conduct this analysis. Objectives of the analysis are to assess the compositeness of the total cash compensation levels of the senior leadership team, develop market based competitive salary ranges for all executive positions, and ensure that the annual incentive opportunities, if there are any, are competitive and reasonable.
Part I, Line 7
A Compensation Committee recommends the variable pay award that may be issued to qualifying employees and officers. The payment of the award is discretionary and is subject to meeting the pre-determined goals of the Organization.

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.

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.

  • Campus Holding

    C · Holding company · ME · controlled entity

  • Covenant Health Insurance LTD

    C · Self-insurance company · CJ · 100% owned · share of income $987,494 · share of assets $68,163,650 · controlled entity

    Directly controlled by Covenant Health Inc

  • GNM Corporation

    C · Real estate holding company · NH

  • SJ Physicians Services

    C · Physician practice · NH

  • St Joseph Corporate Services Inc

    C · Holding company · NH · controlled entity

  • Strauss Incorporated

    C · Repairs and transcriptions · ME · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202323179349301017

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