Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $152,795

• 1d · Related organizations

  $14,192

• 1e · Government grants (contributions)

  $60,013,247

• 1f · All other contributions, gifts and grants

  $1,283,953

• 1g · Noncash contributions included above

  $58,362

• 2a · Program service revenue: PATIENT SVC REVENUE

  total $914,234,015 · related or exempt $914,226,117 · unrelated business $7,898

• 2b · Program service revenue: HEALTHCARE SVC REVENUE

  total $130,653,701 · related or exempt $130,595,919 · unrelated business $57,782

• 2c · Program service revenue: PARTNERSHIP INCOME

  total $2,274,244 · unrelated business $702,624 · excluded $1,571,620

• 2d · Program service revenue: GIFT SHOP INCOME

  total $519,902 · excluded $519,902

• 2e · Program service revenue: CAFETERIA

  total $2,779,141 · related or exempt $2,779,141

• 2f · All other program service revenue

  total $1,988,372 · excluded $1,988,372

• 3 · Investment income

  total $9,762,208 · excluded $9,762,208

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $713,998

• 6b · Less rental expenses

  real property $209,765

• 6c · Rental income or loss

  real property $504,233 · personal property $0

• 6d · Net rental income or loss

  total $504,233 · excluded $504,233

• 7a · Gross sales of assets other than inventory

  securities $31,464,461 · other assets $114,134

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

  securities $34,381,517 · other assets $0

• 7c · Gain or loss

  securities -$2,917,056 · other assets $114,134

• 7d · Net gain or loss

  total -$2,802,922 · excluded -$2,802,922

• 8a · Fundraising events: gross income

  $50,500

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

  $152,795

• 8b · Fundraising events: direct expenses

  $77,689

• 8c · Net income from fundraising events

  total -$27,189 · excluded -$27,189

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $288,824 · program services $288,824

• 2 · Grants to domestic individuals

  total $52,010 · program services $52,010

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $8,127,630 · program services $6,510,434 · management and general $1,600,514 · fundraising $16,682

• 6 · Compensation of disqualified persons

  total $1,823,822 · program services $1,463,808 · management and general $356,263 · fundraising $3,751

• 7 · Other salaries and wages

  total $368,199,928 · program services $295,739,333 · management and general $71,705,528 · fundraising $755,067

• 8 · Pension plan contributions

  total $14,974,622 · program services $12,708,707 · management and general $2,201,026 · fundraising $64,889

• 9 · Other employee benefits

  total $52,956,981 · program services $45,351,341 · management and general $7,387,838 · fundraising $217,802

• 10 · Payroll taxes

  total $26,925,601 · program services $23,074,044 · management and general $3,741,260 · fundraising $110,297

• 11a · Fees: management

  total $5,334,307 · program services $3,812,044 · management and general $1,522,263

• 11b · Fees: legal

  total $4,868,485 · program services $146,070 · management and general $4,722,415

• 11c · Fees: accounting

  total $771,127 · management and general $771,127

• 11d · Fees: lobbying

  total $212,035 · program services $13,592 · management and general $198,443

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $343,043 · management and general $343,043

• 11g · Fees: other

  total $126,504,882 · program services $111,674,302 · management and general $14,792,547 · fundraising $38,033

• 12 · Advertising and promotion

  total $3,018,246 · program services $108,536 · management and general $2,909,710

• 13 · Office expenses

  total $7,386,383 · program services $3,779,969 · management and general $3,569,979 · fundraising $36,435

• 14 · Information technology

  total $20,354,873 · program services $2,681,538 · management and general $17,635,139 · fundraising $38,196

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $20,367,579 · program services $10,568,985 · management and general $9,798,594

• 17 · Travel

  total $1,949,505 · program services $1,519,742 · management and general $427,129 · fundraising $2,634

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $239,405 · program services $51,795 · management and general $186,749 · fundraising $861

• 20 · Interest

  total $7,356,035 · program services $7,356,035

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $56,888,004 · program services $42,936,482 · management and general $13,929,244 · fundraising $22,278

• 23 · Insurance

  total $4,660,099 · management and general $4,660,099

• 24a · Other expenses: PHARMACEUTICALS

  total $110,673,782 · program services $110,673,782

• 24b · Other expenses: MEDICAL SUPPLIES/LINENS

  total $122,219,435 · program services $121,400,980 · management and general $806,208 · fundraising $12,247

• 24c · Other expenses: HEALTH SAFETY NET ASSESSMENTS

  total $29,545,956 · program services $29,545,956

• 24d · Other expenses: TAXES

  total $136,723 · program services $117 · management and general $136,606

• 24e · All other expenses

  total $37,968,640 · program services $18,611,981 · management and general $18,957,693 · fundraising $398,966

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $30,405,769 · end of year $35,453,966

• 3 · Pledges and grants receivable

  beginning of year $2,301,971 · end of year $1,492,985

• 4 · Accounts receivable

  beginning of year $89,691,688 · end of year $102,910,352

• 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 $18,443,521 · end of year $19,753,939

• 9 · Prepaid expenses and deferred charges

  beginning of year $13,999,695 · end of year $12,201,732

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

  $966,024,241

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

  $642,665,178

• 10c · Land, buildings and equipment, net

  beginning of year $340,161,091 · end of year $323,359,063

• 11 · Investments: publicly traded securities

  beginning of year $330,430,843 · end of year $373,659,257

• 12 · Investments: other securities

  beginning of year $73,824,621 · end of year $79,498,847

• 13 · Investments: program-related

  beginning of year $1,120,200 · end of year $1,120,200

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $90,803,510 · end of year $95,222,503

• 17 · Accounts payable and accrued expenses

  beginning of year $146,594,793 · end of year $156,697,573

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $206,782,041 · end of year $200,088,770

• 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 $40,651,334 · end of year $38,403,334

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $55,046,869 · end of year $51,890,529

• 27 · Net assets without donor restrictions

  beginning of year $467,757,233 · end of year $514,870,413

• 28 · Net assets with donor restrictions

  beginning of year $74,350,639 · end of year $82,722,225

The filer's explanations (Part III)

PART I, LINE 1A

ONE KEY EMPLOYEE RECEIVED A GROSS UP FOR RELOCATION REIMBURSEMENTS. THIS BENEFIT WAS INCLUDED IN THEIR W-2 TAXABLE INCOME.

PART I, LINE 4A

THE FOLLOWING INDIVIDUALS RECEIVED A SEVERANCE PAYMENT FROM THE ORGANIZATION: KEITH HOVAN $2,037,080 MARK LACOMBE $148,550

PART I, LINE 4B

OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SHG PARTICIPATE IN SHG'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTION CREDITS UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (C). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES THE VESTED PORTION OF CONTRIBUTIONS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $115,203 STEPHEN CANESSA - $80,318 WADE BROUGHMAN - $112,665 JAQUELINE SOMERVILLE - $61,620 LAUREN DESIMON JOHNSON - $59,803 STEPHEN PIRES - $47,700 THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES A LIQUIDATION DISTRIBUTION DUE TO TERMINATION. KEITH HOVAN - $1,806,177

PART I, LINE 7

THE SOUTHCOAST HEALTH SYSTEM EXECUTIVE COMPENSATION PLAN (THE PLAN) ESTABLISHED 10/15/2008, AND UPDATED FROM TIME TO TIME, IS GOVERNED BY THE COMPENSATION COMMITTEE (THE COMMITTEE) OF THE BOARD OF TRUSTEES (BOARD) OF SOUTHCOAST HEALTH SYSTEM. THE PLAN OUTLINES GOALS, ADMINISTRATION, ELIGIBILITY, PARTICIPATION, PERFORMANCE MEASUREMENT, AND PLAN FUNDING. LUMP SUM CASH AWARDS ARE EARNED BY DESIGNATED EXECUTIVES AT SPECIFIC TARGET LEVELS BASED ON JOB LEVEL: BOTH AWARD AMOUNTS PAID AND ELIGIBILITY ARE DETERMINED SOLELY AT THE BOARD'S DISCRETION. THE PLAN REMAINS IN EFFECT AT THE DISCRETION AND JUDGEMENT OF THE COMMITTEE.

PART II

THE FOLLOWING TRUSTEES ARE COMPENSATED BY AN UNRELATED ORGANIZATION FOR SERVICES RENDERED TO SHG. SOUTHERN NEW ENGLAND RADIOLOGY PAID THEM COMPENSATION IN THE AMOUNTS NOTED BELOW RELATED TO SERVICES PROVIDED TO SHG. SALMAN BASHIR, MD - $4,238 ROBERT RONAN, MD - $25,500

PART II, COLUMN F

OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. PRIOR YEAR CONTRIBUTION CREDITS INCLUDED AS DEFERRED IN A PRIOR YEAR AND AS W-2 COMPENSATION IN THE CURRENT YEAR ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (F). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN F FOR THE FOLLOWING INDIVIDUALS INCLUDES THE ORIGINAL CONTRIBUTION CREDITS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $114,300 KEITH HOVAN - $903,000 STEPHEN CANESSA - $54,810 LAUREN DESIMON JOHNSON - $59,250

Disregarded entities

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

• SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC

  HOLDING CO. · MA · income -$4,169 · assets $1,120,200

  Directly controlled by SHG

Related corporations and trusts

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

• COASTLINE PROFESSIONAL ASSURANCE CO

  Corp · INSURANCE · CJ · controlled entity

  Directly controlled by SHS

• HEALTH MANAGEMENT INITIATIVES INC

  Corp · COMM RENTAL · MA · controlled entity

  Directly controlled by SHS

• CHARITABLE REMAINDER TRUST (12)

  TRUST · CHARITABLE TR · MA · controlled entity

  Directly controlled by SHG