Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $126,871,032

• 1e · Government grants (contributions)

  $5,714,845

• 2a · Program service revenue: MANAGEMENT FEE REVENUE

  total $13,218,974 · related or exempt $13,218,974

• 2b · Program service revenue: PATIENT SERVICE REVENUE

  total $1,396,168 · related or exempt $1,396,168

• 11a · Other revenue: BAD DEBT RECOVERY

  total $2,114 · excluded $2,114

• 11e · Other revenue, total

  $2,114

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,000,000 · program services $1,000,000

• 5 · Compensation of officers, directors and key employees

  total $250,914 · program services $200,795 · management and general $50,119

• 7 · Other salaries and wages

  total $50,585,670 · program services $40,944,193 · management and general $9,641,477

• 8 · Pension plan contributions

  total $1,723,574 · program services $1,244,076 · management and general $479,498

• 9 · Other employee benefits

  total $7,875,296 · program services $5,621,839 · management and general $2,253,457

• 10 · Payroll taxes

  total $3,581,604 · program services $2,585,202 · management and general $996,402

• 11b · Fees: legal

  total $4,850 · program services $1,750 · management and general $3,100

• 11c · Fees: accounting

  total $42,816 · management and general $42,816

• 11g · Fees: other

  total $24,413,849 · program services $2,328,874 · management and general $22,084,975

• 13 · Office expenses

  total $1,650,868 · program services $1,235,473 · management and general $415,395

• 14 · Information technology

  total $1,021,386 · program services $476,618 · management and general $544,768

• 16 · Occupancy

  total $14,695,420 · program services $14,191,121 · management and general $504,299

• 17 · Travel

  total $58,317 · program services $53,439 · management and general $4,878

• 19 · Conferences, conventions and meetings

  total $21,087 · program services $8,972 · management and general $12,115

• 22 · Depreciation, depletion and amortization

  total $5,873,323 · program services $5,647,033 · management and general $226,290

• 23 · Insurance

  total $406,400 · program services $406,400

• 24a · Other expenses: CLINICAL SUPPLIES

  total $19,518,833 · program services $19,507,298 · management and general $11,535

• 24b · Other expenses: LAUNDRY AND LINENS

  total $149,481 · program services $120,204 · management and general $29,277

• 24c · Other expenses: RECRUITMENT

  total $145,309 · program services $105,859 · management and general $39,450

• 24d · Other expenses: MISCELLANEOUS EXPENSES

  total $109,695 · program services $30,833 · management and general $78,862

• 24e · All other expenses

  total $106,426 · program services $81,131 · management and general $25,295

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,043,934 · end of year $67,020

• 4 · Accounts receivable

  beginning of year $119,572 · end of year $4,772,977

• 8 · Inventories for sale or use

  beginning of year $85,233 · end of year $92,496

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,002,067 · end of year $239,008

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

  $95,867,937

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

  $50,964,166

• 10c · Land, buildings and equipment, net

  beginning of year $23,155,055 · end of year $44,903,771

• 14 · Intangible assets

  beginning of year $122,299 · end of year $48,824

• 15 · Other assets

  beginning of year $75,387,781 · end of year $97,324,320

• 17 · Accounts payable and accrued expenses

  beginning of year $12,647 · end of year $10,063,782

• 25 · Other liabilities

  beginning of year $74,872,784 · end of year $97,402,858

• 27 · Net assets without donor restrictions

  beginning of year $22,903,672 · end of year $37,378,112

• 28 · Net assets with donor restrictions

  beginning of year $3,126,838 · end of year $2,603,664

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION PROVIDED TAX GROSS-UP PAYMENTS TO THE FOLLOWING PERSONS: NICOLE BURNS, $20 CAROL REGARDIZ, $20 THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION TO THE LISTED PERSONS.

PART I, LINE 3

VALLEY HEALTH SYSTEM HAS A COMPENSATION PLAN WHICH GOVERNS THE COMPENSATION FOR ALL EXECUTIVES AT ORGANIZATIONS WITHIN THE HEALTH SYSTEM, INCLUDING THE OFFICERS OF THIS ORGANIZATION. THE PLAN WAS DEVELOPED IN CONJUNCTION WITH A CONSULTING FIRM, REVIEWED BY THE PHYSICIAN LEADERSHIP COUNCIL AND APPROVED BY THE BOARD OF TRUSTEES AND THE VALLEY HEALTH SYSTEM PHYSICIAN COMPENSATION COMMITTEE. ON AN ANNUAL BASIS, THE PLAN IS REVIEWED AND UPDATED AS NEEDED.

PART I, LINE 4B

AUDREY MEYERS PARTICIPATED IN A CAP-EX (SPLIT-DOLLAR LIFE INSURANCE PLAN). SHE DID NOT RECEIVE A PAYMENT DURING 2023. AUDREY MEYERS AND WILLIAM KLUTKOWSKI PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN. AUDREY MEYERS RECEIVED A PAYMENT IN 2023 IN THE AMOUNT OF $437,682 AS REPORTED IN PART II, COLUMN BIII AND COLUMN F.

PART I, LINE 7

EMPLOYEES OF THE ORGANIZATION RECEIVED A BOARD-APPROVED DISCRETIONARY BONUS, AWARDED BASED ON PERFORMANCE, AS REPORTED FOR THEM IN PART II, COLUMN B(II).

Related corporations and trusts

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

• VHS INSURANCE COMPANY LTD

  C · PROVIDES PROFESSIONAL, MEDICAL AND COMMERCIAL GENERAL LIABILITY INSURANCE · CJ

  Directly controlled by VALLEY HEALTH SYSTEM INC