Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $354,361

• 1d · Related organizations

  $2,466,328

• 1e · Government grants (contributions)

  $963,264

• 1f · All other contributions, gifts and grants

  $9,921,992

• 2a · Program service revenue: PATIENT SERVICE

  total $574,427,924 · related or exempt $574,427,924

• 2b · Program service revenue: SPECIALTY PHARMACY

  total $17,179,238 · related or exempt $17,179,238

• 2c · Program service revenue: OTHER PATIENT REVENUE

  total $12,967,145 · related or exempt $12,252,018 · unrelated business $715,127

• 3 · Investment income

  total $8,245,378 · unrelated business $458,548 · excluded $7,786,830

• 7a · Gross sales of assets other than inventory

  securities $10,412,076

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

  securities $9,048,116 · other assets $2,025

• 7c · Gain or loss

  securities $1,363,960 · other assets -$2,025

• 7d · Net gain or loss

  total $1,361,935 · excluded $1,361,935

• 8a · Fundraising events: gross income

  $74,389

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

  $354,361

• 8b · Fundraising events: direct expenses

  $137,083

• 8c · Net income from fundraising events

  total -$62,694 · excluded -$62,694

• 11a · Other revenue: PARKING REVENUE

  total $1,282,348 · excluded $1,282,348

• 11b · Other revenue: CAFETERIA INCOME

  total $75,589 · excluded $75,589

• 11e · Other revenue, total

  $1,357,937

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $147,632 · program services $147,632

• 5 · Compensation of officers, directors and key employees

  total $11,335,247 · management and general $11,335,247

• 7 · Other salaries and wages

  total $298,526,355 · program services $268,938,341 · management and general $28,381,788 · fundraising $1,206,226

• 8 · Pension plan contributions

  total $6,623,018 · program services $4,250,178 · management and general $2,348,085 · fundraising $24,755

• 9 · Other employee benefits

  total $18,121,961 · program services $16,595,477 · management and general $1,455,786 · fundraising $70,698

• 10 · Payroll taxes

  total $20,028,310 · program services $17,093,770 · management and general $2,850,379 · fundraising $84,161

• 11a · Fees: management

  total $1,305,124 · program services $696,410 · management and general $608,714

• 11b · Fees: legal

  total $155,893 · program services $10,746 · management and general $145,147

• 11c · Fees: accounting

  total $663,064 · management and general $663,064

• 11d · Fees: lobbying

  total $5,797 · management and general $5,797

• 11f · Fees: investment management

  total $522,214 · management and general $522,214

• 11g · Fees: other

  total $49,154,810 · program services $40,462,765 · management and general $8,245,881 · fundraising $446,164

• 12 · Advertising and promotion

  total $1,128,799 · program services $17,977 · management and general $1,015,312 · fundraising $95,510

• 13 · Office expenses

  total $133,032,316 · program services $131,927,303 · management and general $833,771 · fundraising $271,242

• 14 · Information technology

  total $16,670,653 · program services $12,777,408 · management and general $3,864,437 · fundraising $28,808

• 16 · Occupancy

  total $15,624,609 · program services $12,054,695 · management and general $3,319,918 · fundraising $249,996

• 17 · Travel

  total $802,956 · program services $227,511 · management and general $535,153 · fundraising $40,292

• 19 · Conferences, conventions and meetings

  total $1,152,874 · program services $710,339 · management and general $442,283 · fundraising $252

• 20 · Interest

  total $6,092,064 · program services $47,246 · management and general $6,044,818

• 22 · Depreciation, depletion and amortization

  total $32,275,027 · program services $28,134,479 · management and general $4,128,390 · fundraising $12,158

• 23 · Insurance

  total $3,980,980 · program services $3,336,577 · management and general $644,403

• 24a · Other expenses: PURCHASED SERVICES

  total $4,108,331 · program services $2,599,812 · management and general $1,508,519

• 24b · Other expenses: INSTITUTIONAL DUES

  total $812,553 · program services $229,038 · management and general $583,515

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $92,211,037 · end of year $76,580,813

• 3 · Pledges and grants receivable

  beginning of year $26,705,216 · end of year $26,924,133

• 4 · Accounts receivable

  beginning of year $61,626,914 · end of year $74,421,946

• 8 · Inventories for sale or use

  beginning of year $6,384,447 · end of year $6,974,809

• 9 · Prepaid expenses and deferred charges

  beginning of year $17,563,573 · end of year $17,052,501

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

  $870,144,445

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

  $493,753,294

• 10c · Land, buildings and equipment, net

  beginning of year $316,577,239 · end of year $376,391,151

• 11 · Investments: publicly traded securities

  beginning of year $203,970,103 · end of year $130,331,894

• 12 · Investments: other securities

  beginning of year $8,567,691 · end of year $68,189,501

• 15 · Other assets

  beginning of year $103,385,801 · end of year $124,435,176

• 17 · Accounts payable and accrued expenses

  beginning of year $101,793,506 · end of year $85,698,238

• 19 · Deferred revenue

  end of year $1,123,144

• 20 · Tax-exempt bond liabilities

  beginning of year $184,686,947 · end of year $235,772,862

• 23 · Secured mortgages and notes payable

  beginning of year $24,071,947 · end of year $21,495,219

• 25 · Other liabilities

  beginning of year $112,278,334 · end of year $139,504,849

• 27 · Net assets without donor restrictions

  beginning of year $312,638,333 · end of year $328,469,168

• 28 · Net assets with donor restrictions

  beginning of year $101,522,954 · end of year $89,238,444

The filer's explanations (Part III)

PART I, LINE 4B

GBMC HEALTHCARE HAS A NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN ("SERP"). THIS PLAN WAS APPROVED BY THE COMPENSATION COMMITTEE OF THE GBMC HEALTHCARE BOARD OF DIRECTORS TO SUPPLEMENT THE EXECUTIVE'S RETIREMENT INCOME. THE SUPPLEMENTAL RETIREMENT PLAN WAS DEVELOPED BASED ON AN INDEPENDENT CONSULTANT REPORT ON MARKET-BASED PRACTICES FOR SUPPLEMENTAL RETIREMENT PLANS, THE PERCENTAGE OF FINAL AVERAGE PAY, THE REQUIREMENTS FOR VESTING, PARTICIPANTS, AND PAY-OUT PROVISIONS WERE ESTABLISHED, REVIEWED, AND APPROVED BY THE COMPENSATION COMMITTEE. DURING CALENDAR YEAR 2023, THE FOLLOWING PARTICIPATED IN THE SERP PLAN: JOHN B. CHESSARE - $202,186 LAURIE R. BEYER - $62,496 JOHN L. FLOWERS, M.D. - $72,293 CATHERINE HAMEL - $58,362 CAROLYN L. CANDIELLO - $26,537 JENNY COLDIRON - $32,910 DAVID J. HYNSON - $31,166 SUSAN MARTIELLI - $34,795 STACEY L. MCGREEVY - $43,484 ANNA-MARIA G. PALMER - $30,578 ERLENE WASHINGTON - $30,900 MICHAEL STEIN - $27,000 ANGELA FEURER - $31,400 DURING THE CALENDAR YEAR, THE FOLLOWING INDIVIDUALS RECEIVED PAYMENTS AS PART OF THEIR PARTICIPATION IN THE SERP PLAN: JOHN B. CHESSARE, M.D. - $202,186 JOHN L. FLOWERS, M.D. - $72,293 CATHERINE Y. HAMEL - $58,362 CAROLYN L. CANDIELLO - $26,537 JENNY COLDIRON - $32,910 SUSAN MARTIELLI - $34,795

PART I, LINE 7

EXECUTIVE BONUSES ARE ESTABLISHED BY THE BOARD OF DIRECTORS COMPENSATION COMMITTEE WITH THE CONSULTATION OF AN INDEPENDENT THIRD-PARTY EXECUTIVE COMPENSATION CONSULTANT. THE COMPENSATION COMMITTEE FOLLOWS GOVERNANCE BEST PRACTICES: - ESTABLISHES AN EXECUTIVE COMPENSATION PHILOSOPHY. - CONDUCTS A COMPREHENSIVE COMPENSATION REVIEW AND APPROVAL PROCESS LED BY AN INDEPENDENT, BOARD-AUTHORIZED COMPENSATION COMMITTEE. - REINFORCES PAY-FOR-PERFORMANCE THROUGH AN ANNUAL INCENTIVE PLAN, WITH GOALS AND METRICS APPROVED BY THE COMPENSATION COMMITTEE; DETERMINATION OF ACHIEVEMENT AND AWARDS WITHIN COMPENSATION COMMITTEE'S SOLE DISCRETION. - PROMOTES TRANSPARENCY WITH ANNUAL REPORT TO THE BOARD. - ENSURES COMPLIANCE WITH IRS "INTERMEDIATE SANCTIONS" SAFE HARBOR* PROTECTIONS FOR EXECUTIVE COMPENSATION DECISIONS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• GBMC HEALTHCARE PARTNERS AT HELPING UP MISSION LLC

  HEALTHCARE · MD · income $1,463,506 · assets $2,490,943

  Directly controlled by GREATER BALTIMORE MEDICAL CENTER INC

• GBMC HOSPITAL BASED SERVICES LLC

  HEALTHCARE · MD · income $11,997,048 · assets $6,513,536

  Directly controlled by GREATER BALTIMORE MEDICAL CENTER INC

• GBMC OPTICAL CENTER LLC

  HEALTHCARE · MD · income $715,127 · assets $1,167,440

  Directly controlled by GREATER BALTIMORE MEDICAL CENTER INC

Related partnerships

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

• GBMC PAVILION WEST MEDICAL ARTS LLC

  EXCLUDED · REAL ESTATE MANAGEMENT · MD · 37.9% owned · share of income $219,384 · share of assets $2,239,253

  Directly controlled by GBMC AGENCY INC

• GBMC-WP-PT LLC

  PHYSICAL THERAPY · MD

• GREATER BALTIMORE DIAGNOSTIC IMAGING

  RADIOLOGY · MD

Related corporations and trusts

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

• GBMC AGENCY INC

  C · INVESTMENTS · MD

• RUXTON INSURANCE COMPANY INC

  C · INSURANCE CAPTIVE · BD · 100% owned · share of income $1,554,898 · share of assets $78,452,667 · controlled entity

  Directly controlled by GREATER BALTIMORE MEDICAL CENTER INC