Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MGMT FEE & RELATED INC

  total $54,490,865 · related or exempt $54,490,865

• 2b · Program service revenue: RENTAL (NON RSDNTL)

  total $3,743,180 · related or exempt $3,743,180

• 3 · Investment income

  total $423,256 · unrelated business $56,579 · excluded $366,677

• 7a · Gross sales of assets other than inventory

  other assets $707

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

  other assets $2,143

• 7c · Gain or loss

  other assets -$1,436

• 7d · Net gain or loss

  total -$1,436 · excluded -$1,436

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $218,699 · program services $218,699

• 5 · Compensation of officers, directors and key employees

  total $1,271,878 · program services $488,676 · management and general $783,202

• 6 · Compensation of disqualified persons

  total $28,987 · program services $11,137 · management and general $17,850

• 7 · Other salaries and wages

  total $18,628,495 · program services $7,157,374 · management and general $11,471,121

• 8 · Pension plan contributions

  total $509,930 · program services $219,270 · management and general $290,660

• 9 · Other employee benefits

  total $11,434,377 · program services $4,258,604 · management and general $7,175,773

• 10 · Payroll taxes

  total $1,664,297 · program services $715,648 · management and general $948,649

• 11a · Fees: management

  total $334 · management and general $334

• 11b · Fees: legal

  total $675,496 · management and general $675,496

• 11f · Fees: investment management

  total $35,202 · management and general $35,202

• 11g · Fees: other

  total $1,514,578 · program services $985,840 · management and general $528,738

• 12 · Advertising and promotion

  total $1,208,255 · program services $1,208,255

• 13 · Office expenses

  total $4,153,241 · program services $3,322,593 · management and general $830,648

• 14 · Information technology

  total $6,164 · program services $4,931 · management and general $1,233

• 16 · Occupancy

  total $4,163,934 · program services $3,292,800 · management and general $871,134

• 17 · Travel

  total $167,761 · program services $135,901 · management and general $31,860

• 19 · Conferences, conventions and meetings

  total $53,946 · program services $43,157 · management and general $10,789

• 20 · Interest

  total $834,449 · management and general $834,449

• 22 · Depreciation, depletion and amortization

  total $3,223,131 · program services $2,578,505 · management and general $644,626

• 23 · Insurance

  total $812,202 · program services $812,202

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $10,540,203 · program services $8,432,162 · management and general $2,108,041

• 24b · Other expenses: SETTLEMENT

  total $2,200,000 · management and general $2,200,000

• 24c · Other expenses: RECRUITMENT EXPENSE

  total $558,495 · program services $57,685 · management and general $500,810

• 24d · Other expenses: SALES TAX

  total $377,121 · management and general $377,121

• 24e · All other expenses

  total $261,283 · program services $209,397 · management and general $51,886

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,548,824 · end of year $10,127,451

• 4 · Accounts receivable

  beginning of year $0 · end of year $772,470

• 7 · Other notes and loans receivable

  beginning of year $6,830,830 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,707,799 · end of year $1,310,690

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

  $47,232,561

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

  $16,497,888

• 10c · Land, buildings and equipment, net

  beginning of year $33,117,774 · end of year $30,734,673

• 11 · Investments: publicly traded securities

  end of year $2,975,653

• 13 · Investments: program-related

  beginning of year $4,565,040 · end of year -$38,017,936

• 14 · Intangible assets

  beginning of year $27,059,772 · end of year $39,164,308

• 15 · Other assets

  beginning of year $1,972,957 · end of year $65,400,992

• 17 · Accounts payable and accrued expenses

  beginning of year $5,554,964 · end of year $2,748,427

• 19 · Deferred revenue

  beginning of year $707,541 · end of year $591,505

• 23 · Secured mortgages and notes payable

  beginning of year $28,928,890 · end of year $28,166,117

• 25 · Other liabilities

  beginning of year $20,248,101 · end of year $94,041,591

• 27 · Net assets without donor restrictions

  beginning of year $22,987,728 · end of year -$14,350,545

• 28 · Net assets with donor restrictions

  beginning of year -$624,228 · end of year $1,271,206

The filer's explanations (Part III)

PART I, LINE 4B

457(F) INELIGIBLE DEFERRED COMPENSATION PLAN - A 457 F PLAN IS OFFERED TO CERTAIN MANAGEMENT AND/OR HIGHLY COMPENSATED EMPLOYEES TO OFFER THOSE EMPLOYEES A DEFERRED COMPENSATION OPPORTUNITY. THE PLAN IS INTENDED TO BE A "TOP-HAT PLAN", OR UNFUNDED DEFERRED COMPENSATION PLAN MAINTAINED FOR A SELECT GROUP OF EMPLOYEES. PARTICIPANTS MAY BECOME VESTED IN AMOUNTS CREDITED ON JANUARY 1 ELECTED BY THE PARTICIPANT AT THE TIME THE INITIAL DEFERRAL WAS ELECTED. A PARTICIPANT SHALL BECOME FULLY VESTED UPON DEATH, DISABILITY, ATTAINMENT OF AGE 60, OR SEPARATION OF SERVICE, AS DEFINED BY THE PLAN. ANY UNVESTED CONTRIBUTIONS SHALL BE FORFEITED TO THE PLAN OR EMPLOYER. FOR 2024: PER BENEFITS - NO DISTRIBUTIONS / PAYMENTS WERE MADE FROM THE PLAN; DAVID GOLDBERG WAS THE ONLY PARTICIPANT. TARGET BENEFIT SERP - A TARGET BENEFIT SERP IS OFFERED TO THREE EXECUTIVES, WITH AN ANNUAL EMPLOYER CONTRIBUTION THAT TARGETS PROVIDING 55% OF FINAL AVERAGECOMPENSATION AT AGE 60 FOR 30 YEARS OF SERVICE. THE TARGET BENEFIT IS OFFSET BY THE FROZEN DEFINED BENEFIT SERP ACCRUED BENEFIT, THE FROZEN RESTORATION PLAN BALANCE, EMPLOYER-PROVIDED QUALIFIED RETIREMENT BENEFITS, EMPLOYER-PROVIDED 457(B) PLAN BENEFITS, AND 50% OF AGE 62 SOCIAL SECURITY. EACH ANNUAL FUNDING CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 60. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. DEFINED CONTRIBUTION SERP - A DEFINED CONTRIBUTION SERP IS OFFERED TO SELECT EXECUTIVES, WITH AN ANNUAL 10% OF SALARY CONTRIBUTION. EACH ANNUAL CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 65. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. UNDER THE EXECU-FLEX BENEFIT PLAN (409A), EXECUTIVES RECEIVE 11% OF THEIR SALARY IN FLEX ALLOWANCE. THIS FLEX ALLOWANCE IS USED TO ELECT EXECUTIVE BENEFITS. ANY REMAINING FLEX ALLOWANCE IS CREDITED TO A TAX-DEFERRED CAPITAL ACCUMULATION ACCOUNT. THE MINIMUM VESTING PERIOD IS TWO YEARS, MAXIMUM IS AGE 68. A TWO YEAR NON-COMPETE AGREEMENT (SUBSTANTIAL RISK OF FORFEITURE AGREEMENT) APPLIES IF TERMINATION OF EMPLOYMENT OCCURS PRIOR TO THE VESTING DATE. CERTAIN PARTICIPANTS HAD AMOUNTS VESTED AND INCLUDED AS REPORTABLE COMPENSATION THIS YEAR, AS DETAILED BELOW: DAVID L. RAMSEY - $154,224 JEFF SANDENE - $72,258

PART I, LINE 7

MONONGALIA HEALTH SYSTEM PAYS NON-FIXED BONUS PAYMENTS TO SELECT EXECUTIVES LISTED ON PART VII, APPROVED BY THE BOARD.

Related partnerships

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

• GENERAL DIVISION MEDICAL OFFICE BUILDING LLC

  MEDICAL OFFICE BUILDING · WV

• DASCO-CAMC HOME MEDICAL EQUIPMENT LLC

  HOME MEDICAL EQUIPMENT · WV

• MGH SURGERY LLC

  SURGERY CENTER · WV

• MON HEALTH-DASCO HOME MEDICAL EQUIPMENT LLC

  HOME MEDICAL EQUIPMENT · OH

• CHARLESTON SURGICAL HOSPITAL LLC

  SURGERY CENTER · WV

Related corporations and trusts

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

• VANDALIA INSURANCE COMPANY

  C · INSURANCE · VT · controlled entity

• MON HEALTH CARE INC

  C · MEDICAL EQUIPMENT · WV · 100% owned · share of income $53,629 · share of assets $566,789 · controlled entity

  Directly controlled by MONONGALIA HEALTH SYSTEM INC

• STONEWALL HOME OXYGEN THERAPY INC

  C · OXYGEN THERAPY SERVICES · WV · controlled entity

• HEALTH FACILITIES INC

  C · HEALTH CARE · WV · controlled entity

• CENTRAL WV MEDCORP INC

  C · PHYSICIAN SERVICES · WV · controlled entity

• DAVIS REGIONAL HEALTH PARTNERS INC

  C · CONTRACT NEGOTIATIONS · WV · controlled entity

• XERCOR RE SEGREGATED PORTFOLIO #2 DAVIS

  C · CAPTIVE INSURANCE · CJ · controlled entity

• FAIRMONT HOME EQUIPMENT AND SUPPLY

  C · EQUIPMENT RENT & SVC · WV · controlled entity