Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $106,359

• 1d · Related organizations

  $951,742

• 1f · All other contributions, gifts and grants

  $860,867

• 1g · Noncash contributions included above

  $28,182

• 2f · All other program service revenue

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

• 3 · Investment income

  total $131,520 · excluded $131,520

• 6c · Rental income or loss

  real property $0 · personal property $0

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

  securities $14,313

• 7c · Gain or loss

  securities -$14,313 · other assets $0

• 7d · Net gain or loss

  total -$14,313 · excluded -$14,313

• 8a · Fundraising events: gross income

  $26,590

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

  $106,359

• 8b · Fundraising events: direct expenses

  $46,813

• 8c · Net income from fundraising events

  total -$20,223 · excluded -$20,223

• 9a · Gaming: gross income

  $4,700

• 9b · Gaming: direct expenses

  $2,246

• 9c · Net income from gaming

  total $2,454 · excluded $2,454

• 11d · All other revenue

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

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $206,926 · program services $206,926

• 2 · Grants to domestic individuals

  total $193,019 · program services $193,019

• 5 · Compensation of officers, directors and key employees

  total $175,318 · management and general $52,595 · fundraising $122,723

• 7 · Other salaries and wages

  total $306,038 · management and general $61,208 · fundraising $244,830

• 9 · Other employee benefits

  total $106,046 · management and general $25,072 · fundraising $80,974

• 10 · Payroll taxes

  total $33,548 · management and general $7,931 · fundraising $25,617

• 11c · Fees: accounting

  total $27,000 · management and general $27,000

• 11g · Fees: other

  total $0 · program services $0 · management and general $0 · fundraising $0

• 12 · Advertising and promotion

  total $17,896 · management and general $17,896

• 13 · Office expenses

  total $10,887 · management and general $10,537 · fundraising $350

• 14 · Information technology

  total $157,807 · fundraising $157,807

• 16 · Occupancy

  total $34,809 · management and general $34,809

• 17 · Travel

  total $17,531 · management and general $17,531

• 24a · Other expenses: Catering

  total $4,082 · management and general $4,082

• 24b · Other expenses: Dues

  total $4,890 · management and general $4,890

• 24c · Other expenses: Volunteer Recognition

  total $2,218 · management and general $2,218

• 24d · Other expenses: Fundraising - Entertainment

  total $3,975 · fundraising $3,975

• 24e · All other expenses

  total $3,015 · program services $0 · management and general $1,532 · fundraising $1,483

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $680,364 · end of year $1,227,039

• 2 · Savings and temporary cash investments

  beginning of year $164,884 · end of year $167,929

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $0 · end of year $45,449

• 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

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $7,518 · end of year $7,080

• 9 · Prepaid expenses and deferred charges

  beginning of year $33,852 · end of year $27,415

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

  $85,373

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

  $85,373

• 10c · Land, buildings and equipment, net

  beginning of year $323 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $4,832,963 · end of year $4,850,405

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $30,178 · end of year $29,557

• 17 · Accounts payable and accrued expenses

  beginning of year $29,025 · end of year $81,768

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $164,073 · end of year $137,352

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $45,404 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $3,298,229 · end of year $3,690,574

• 28 · Net assets with donor restrictions

  beginning of year $2,213,351 · end of year $2,445,180

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

THE ORGANIZATION PROVIDES A NONQUALIFIED SUPPLEMENTAL RETIREMENT PLAN FOR CERTAIN EXECUTIVE EMPLOYEES. BECAUSE BENEFITS UNDER THE SUPPLEMENTAL PLAN MUST BE INCLUDED IN TAXABLE INCOME WHEN THEY BECOME VESTED, AND AS REQUIRED BY THE SUPPLEMENTAL PLAN'S TERMS, THE ORGANIZATION PROVIDES AN ADDITIONAL BENEFIT THAT COVERS THE TAX LIABILITY WHEN IT IS INCURRED. THE TAX LIABILITY PAYMENTS ARE THEMSELVES INCLUDED IN W-2 INCOME IN THE YEAR MADE TO THE EXECUTIVES, AND ARE INCLUDED IN THE FIGURES DISCLOSED ON SCHEDULE J, PART II.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE ORGANIZATION PROVIDED A HOUSING ALLOWANCE TO THE SYSTEM CEO. THIS BENEFIT WAS INCLUDED AS A TAXABLE INCOME IN THE YEAR RECEIVED AND FULLY INCLUDED ON THE RECIPIENT'S FORM W-2.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

DURING THE REPORTING PERIOD, THE ORGANIZATION PAID THE CEO MEMBERSHIP DUES IN A SOCIAL CLUB. THE CLUB MEMBERSHIP WAS USED FOR BUSINESS PURPOSES. ANY PERSONAL RELATED EXPENSES ARE TREATED AS TAXABLE WAGE INCOME AND FULLY INCLUDED ON THE RECIPIENT'S FORM W-2.

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

COMPENSATION FOR THE ORGANIZATION'S INTERIM EXECUTIVE DIRECTOR IS SET BY ITS PARENT ORGANIZATION, OWENSBORO HEALTH, INC., USING A PROCESS THAT IS DESIGNED TO COMPLY WITH THE REBUTTABLE PRESUMPTION OF REASONABLENESS.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

OWENSBORO HEALTH PROVIDES A NONQUALIFIED SUPPLEMENTAL RETIREMENT PLAN FOR CERTAIN EXECUTIVE EMPLOYEES. PARTICIPATION IN THE PLAN IS SUBJECT TO THE RECOMMENDATION OF THE CHIEF EXECUTIVE OFFICER AND THE APPROVAL OF THE BOARD OF DIRECTORS. AS OF DECEMBER 31, 2020 OWENSBORO HEALTH SHALL CREDIT THE PARTICIPANT'S ACCOUNT WITH AN EMPLOYER CONTRIBUTION. THE PARTICIPANT MUST BE EMPLOYED BY OWENSBORO HEALTH AT THE END OF THE PLAN YEAR IN ORDER TO RECEIVE AN EMPLOYER CONTRIBUTION FOR THAT PLAN YEAR, AND PARTIAL YEAR CREDIT IS EARNED AFTER A PARTICIPANT REACHED NORMAL RETIREMENT AGE AS DEFINED BY THE PLAN. EMPLOYER CONTRIBUTIONS FOR EACH CONTRIBUTION CLASS YEAR SHALL BE 100% VESTED AS OF THE END OF THE PLAN YEAR WHICH IS FIVE YEARS AFTER THE DATE ON WHICH THE EMPLOYER CONTRIBUTION WAS MADE FOR SUCH CONTRIBUTION CLASS YEAR. FORMER CHIEF EXECUTIVE OFFICER GREG STRAHAN RETIRED ON AUGUST 6, 2021. AS REQUIRED BY THE PLAN DOCUMENT, THE FINAL FIVE YEARS OF CONTRIBUTIONS AND INVESTMENT EARNINGS WILL VEST AND PAYMENT IS MADE FOR THE FIVE YEARS CONCURRENTLY UPON RETIREMENT. 457F PLAN TO EXECUTIVES: GREG STRAHAN $1,117,560 (RETIRED 08/06/2021); STEVE JOHNSON $29,700

Schedule J, Part I, Line 7 Non-fixed payments

THE SUCCESS SHARING PLAN IS A PROGRAM DESIGNED TO FOCUS ON THE ACCOUNTABILITY OF ALL EMPLOYEES TO INFLUENCE THE FINANCIAL, QUALITY, PATIENT SATISFACTION AND EMPLOYEE DEVELOPMENT GOALS, AND TO REINFORCE THE OH CORE COMMITMENTS (RESPECT, INTEGRITY, INNOVATION, SERVICE, EXCELLENCE AND TEAMWORK) WHILE WORKING TO ACHIEVE THESE GOALS. THE PLAN ACHIEVES THIS BY PROVIDING A DIRECT LINK BETWEEN ACHIEVEMENT OF ORGANIZATIONAL OBJECTIVES AND THE TOTAL COMPENSATION OF THOSE WHOSE DECISIONS AND ACTIONS ARE ACCOUNTABLE FOR THE OUTCOMES WHICH DRIVE THE ORGANIZATION'S SUCCESS. ELIGIBILITY IS BASED ON HOURS WORKED IN THE YEAR; STAFF EMPLOYEES ARE PAID A PRO-RATED AMOUNT OF A DOLLAR MAXIMUM AND MANAGEMENT IS PAID A FIXED PERCENTAGE OF ANNUAL SALARY BASED ON LEVEL OF MANAGEMENT. PAYMENT IS PREDICATED ON BOARD APPROVAL.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• OWENSBORO AM SR FAC

  N/A · SURGERY CENTER · KY · 0% owned

  Directly controlled by NA