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Nonprofiteer
← GEORGIA PROTONCARE CENTER

Form 990 for tax year 2023

Filed by GEORGIA PROTONCARE CENTER.

Totals

Total revenue
$39,616,354
Total expenses
$77,886,141
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,486,351
Investment income
$966,348
Other revenue
$163,655
Total assets, end of year
$240,349,177
Total liabilities, end of year
$428,822,341
Net assets or fund balances, end of year
-$188,473,164
Program services expenses (Part IX)
$77,070,797
Management and general expenses
$815,344
Fundraising expenses
$0
Program service expenses (Part III)
$77,070,797

Program services were 99.0% 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.

  • 2a · Program service revenue: PATIENT SERVICE REVENUE

    total $38,486,351 · related or exempt $38,486,351

  • 2f · All other program service revenue

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

  • 4 · Income from investment of tax-exempt bond proceeds

    total $966,348 · excluded $966,348

  • 6a · Gross rents

    real property $163,655

  • 6c · Rental income or loss

    real property $163,655 · personal property $0

  • 6d · Net rental income or loss

    total $163,655 · excluded $163,655

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 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.

  • 5 · Compensation of officers, directors and key employees

    total $250,000 · program services $250,000

  • 7 · Other salaries and wages

    total $14,088,075 · program services $14,088,075

  • 10 · Payroll taxes

    total $3,536,331 · program services $3,536,331

  • 11a · Fees: management

    total $2,687,210 · program services $1,871,866 · management and general $815,344

  • 11b · Fees: legal

    total $1,105,459 · program services $1,105,459

  • 11c · Fees: accounting

    total $48,587 · program services $48,587

  • 11g · Fees: other

    total $5,981,030 · program services $5,981,030 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $1,340,260 · program services $1,340,260

  • 13 · Office expenses

    total $1,322,972 · program services $1,322,972

  • 14 · Information technology

    total $581,776 · program services $581,776

  • 16 · Occupancy

    total $1,059,927 · program services $1,059,927

  • 17 · Travel

    total $84,823 · program services $84,823

  • 19 · Conferences, conventions and meetings

    total $3,453 · program services $3,453

  • 20 · Interest

    total $15,925,478 · program services $15,925,478

  • 22 · Depreciation, depletion and amortization

    total $15,669,988 · program services $15,669,988

  • 23 · Insurance

    total $650,011 · program services $650,011

  • 24a · Other expenses: maintenance and repairs

    total $8,717,092 · program services $8,717,092

  • 24b · Other expenses: Implicit price concessions

    total $4,450,157 · program services $4,450,157

  • 24c · Other expenses: CLEANING & TRASH

    total $219,239 · program services $219,239

  • 24d · Other expenses: MISCELLANEOUS

    total $141,313 · program services $141,313

  • 24e · All other expenses

    total $22,960 · program services $22,960 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,383,247 · end of year $3,861,076

  • 4 · Accounts receivable

    beginning of year $8,024,952 · end of year $3,434,561

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $638,999 · end of year $727,220

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

    $262,814,019

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

    $53,135,238

  • 10c · Land, buildings and equipment, net

    beginning of year $220,554,883 · end of year $209,678,781

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $22,180,946 · end of year $22,647,539

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,485,911 · end of year $8,257,886

  • 20 · Tax-exempt bond liabilities

    beginning of year $355,796,696 · end of year $360,407,899

  • 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 $22,977,276 · end of year $23,003,312

  • 25 · Other liabilities

    beginning of year $18,726,521 · end of year $37,153,244

  • 27 · Net assets without donor restrictions

    beginning of year -$150,203,377 · end of year -$188,473,164

Mission and programs · 2023

Mission

COLLABORATING WITH OTHER CHARITABLE ORGANIZATIONS AND INSTITUTIONS DEDICATED TO CANCER TREATMENT AND PREVENTION PROGRAMS AND ADVANCING THE PUBLIC HEALTH AND GENERAL WELFARE OF THE RESIDENTS OF THE STATE OF GEORGIA AND THE SURROUNDING REGION.

Activities or mission (Part I)

ACQUIRING, CONSTRUCTING, FURNISHING, EQUIPPING, FINANCING, OWNING, OPERATING AND MAINTAINING A STATE-OF-THE-ART PROTON THERAPY TREATMENT CENTER. PROVIDING RADIATION ONCOLOGY SERVICES USING PROTON BEAM THERAPY AND OTHER APPROPRIATE FORMS OF CANCER TREATMENT SERVICES TO PATIENTS, INCLUDING WITHOUT LIMITATION, PATIENTS WITHIN THE STATE OF GEORGIA, AND PATIENTS IN SURROUNDING STATES WHO ARE NOT IN CLOSE PROXIMITY TO AN EXISTING PROTON THERAPY TREATMENT CENTER, AND WOULD NOT HAVE ACCESS TO SUCH FORM OF CANCER TREATMENT SERVICES. CONDUCTING, SUPPORTING AND PROMOTING EDUCATIONAL PROGRAMS RELATED TO CANCER AND CANCER TREATMENT FOR PATIENTS AND THE GENERAL PUBLIC. PROVIDING PROTON BEAM THERAPY TRAINING OPPORTUNITIES FOR MEDICAL STUDENTS, RESIDENTS, FELLOWS, PHYSICIANS, NURSES, TECHNICIANS, AND OTHER HEALTH CARE PROFESSIONALS. CONDUCTING, SUPPORTING AND PROMOTING BASIC AND CLINICAL RESEARCH RELATED TO CANCER TREATMENT AND OTHER ACTIVITIES RELATED TO THE OPERATION OF CANCER TREATMENT PROGRAMS.

  • COLLABORATING WITH OTHER CHARITABLE ORGANIZATIONS AND INSTITUTIONS DEDICATED TO CANCER TREATMENT AND PREVENTION PROGRAMS AND ADVANCING THE PUBLIC HEALTH AND GENERAL WELFARE OF THE RESIDENTS OF THE STATE OF GEORGIA AND THE SURROUNDING REGION.

    Expenses $77,070,797 · Revenue $38,486,351

As filed on the 2023 return.

Listed in Part VII

  • DEBRA LOCKWOOD

    PRESIDENT AND CFO (through 12/31/23)

    Total calculated
    $356,297
    From this org
    $318,128
    From related orgs
    $0
    Other
    $38,169
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $278,043
    Bonus
    $0
    Other
    $40,085
    Deferred
    $12,744
    Nontaxable benefits
    $25,425
    Filer's total
    $356,297

  • STEVE HICKS

    CEO

    Total calculated
    $3,499,102
    From this org
    $0
    From related orgs
    $3,471,707
    Other
    $27,395
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $547,802 related
    Bonus
    $0 + $330,000 related
    Other
    $0 + $2,593,905 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $14,195 related
    Filer's total
    $0 + $3,499,102 related

  • DR WALTER CURRAN JR

    DIRECTOR (through 11/10/23)

    Total calculated
    $0
    Hours/week
    1

  • KENNETH L BECKER

    DIRECTOR (beginning 11/10/23)

    Total calculated
    $0
    Hours/week
    1

  • DONOVAN O HICKS

    VICE PRESIDENT AND SECRETARY

    Total calculated
    $642,110
    From this org
    $0
    From related orgs
    $604,250
    Other
    $37,860
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,879 related
    Bonus
    $0 + $210,000 related
    Other
    $0 + $46,371 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $24,660 related
    Filer's total
    $0 + $642,110 related

  • RHEBA W ROBERTSON

    ASSISTANT SECRETARY

    Total calculated
    $55,678
    From this org
    $0
    From related orgs
    $55,678
    Other
    $0
    Hours/week
    1 + 23 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, 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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Process for Determining Compensation
Georgia Protoncare Center, Inc. does not pay any employees directly, therefore, this line was left blank in accordance with the instructions. The officers of the organization are compensated solely by the related organization, Provident Resources Group, Inc.
Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION
PROVIDENT RESOURCES GROUP INC.'S PAID TIME OFF POLICY REQUIRES PROVIDENT TO PAYOUT ACCRUED PTO OVER A SPECIFIC LIMIT (WHICH IS DETERMINED ANNUALLY), FOR ALL EMPLOYEES.
Schedule J, Part II, Column (B)(iii) OTHER REPORTABLE COMPENSATION
FOR THE FIRST 20 YEARS OF PRG'S OPERATIONS, THE CEO'S SALARY WAS BELOW INDUSTRY AVERAGES. AS THE COMPANY GREW, AN AT-RISK NONQUALIFIED DEFERRED COMPENSATION PROGRAM WAS ESTABLISHED BY PRG'S INDEPENDENT EXECUTIVE COMPENSATION COMMITTEE WITHIN ITS INDEPENDENT BOARD OF DIRECTORS. THIS PROGRAM AWARDED DEFERRED COMPENSATION BETWEEN OPERATING YEARS 1999 AND 2014, ALL OF WHICH REMAINED SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE WITH A VESTING DATE OF DECEMBER 31, 2030, SUBJECT TO THE CEO'S CONTINUED SERVICE FOR PRG. UPON VESTING, THE DEFERRED COMPENSATION MUST BE PAID PURSUANT TO THE SHORT-TERM DEFERRAL TIMING RULES BY MARCH 15TH OF THE FOLLOWNG CALENDAR YEAR. IN 2023, THE EXECUTIVE COMPENSATION COMMITTEE ELECTED TO ACCELERATE VESTING OF APPROXIMATELY $2.5 MILLION IN DEFERRED COMPENSATION TO BE PAID TO STEVE HICKS, PRG'S FOUNDER AND CEO, IN A ONE-TIME PAYMENT WITHIN THE SHORT-TERM DEFERRAL PERIOD. THE CEO'S CURRENT BASE ANNUAL SALARY HAS NOT CHANGED AND REMAINS IN LINE WITH PRIOR YEARS.

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 partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
3 February 2025
IRS schema version
2023v6.0
Source object
202510349349301951

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