Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $53,600

• 1f · All other contributions, gifts and grants

  $858,436

• 2a · Program service revenue: Patient Service Revenue

  total $185,910,315 · related or exempt $185,910,315

• 2b · Program service revenue: Other Operating Revenue

  total $3,724,646 · related or exempt $3,547,188 · excluded $177,458

• 2c · Program service revenue: Contractual/Char. Adj.

  total -$107,153,431 · related or exempt -$107,153,431

• 3 · Investment income

  total $1,342,089 · excluded $1,342,089

• 6a · Gross rents

  real property $37,742

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $37,742

• 6d · Net rental income or loss

  total $37,742 · excluded $37,742

• 7a · Gross sales of assets other than inventory

  securities $906,795

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

  securities $289,115 · other assets $14,312

• 7c · Gain or loss

  securities $617,680 · other assets -$14,312

• 7d · Net gain or loss

  total $603,368 · excluded $603,368

• 8a · Fundraising events: gross income

  $7,854

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

  $53,600

• 8b · Fundraising events: direct expenses

  $22,496

• 8c · Net income from fundraising events

  total -$14,642 · excluded -$14,642

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $84,595 · program services $84,595

• 2 · Grants to domestic individuals

  total $2,200 · program services $2,200

• 5 · Compensation of officers, directors and key employees

  total $1,573,198 · management and general $1,573,198

• 7 · Other salaries and wages

  total $37,966,097 · program services $37,493,255 · management and general $382,437 · fundraising $90,405

• 8 · Pension plan contributions

  total $2,020,721 · program services $1,988,372 · management and general $32,349

• 9 · Other employee benefits

  total $4,861,311 · program services $4,800,828 · management and general $60,483

• 10 · Payroll taxes

  total $2,429,024 · program services $2,305,256 · management and general $117,809 · fundraising $5,959

• 11b · Fees: legal

  total $89,431 · program services $85,083 · management and general $4,348

• 11c · Fees: accounting

  total $116,250 · program services $110,598 · management and general $5,652

• 11f · Fees: investment management

  total $115,784 · management and general $115,784

• 11g · Fees: other

  total $10,940,134 · program services $10,589,968 · management and general $345,535 · fundraising $4,631

• 12 · Advertising and promotion

  total $127,519 · program services $121,319 · management and general $6,200

• 13 · Office expenses

  total $1,128,501 · program services $1,073,634 · management and general $53,118 · fundraising $1,749

• 14 · Information technology

  total $2,602,401 · program services $2,475,873 · management and general $126,528

• 16 · Occupancy

  total $2,194,595 · program services $2,087,894 · management and general $106,701

• 17 · Travel

  total $128,525 · program services $122,276 · management and general $6,249

• 20 · Interest

  total $306,697 · program services $297,628 · management and general $9,069

• 22 · Depreciation, depletion and amortization

  total $3,594,456 · program services $3,488,653 · management and general $105,803

• 23 · Insurance

  total $1,185,416 · program services $1,127,781 · management and general $57,635

• 24a · Other expenses: Medical Supplies

  total $8,742,591 · program services $8,317,529 · management and general $425,062

• 24b · Other expenses: Medicaid Enhancement Ta

  total $3,427,353 · program services $3,427,353

• 24c · Other expenses: Miscellaneous Expenses

  total $728,189 · program services $692,787 · management and general $24,194 · fundraising $11,208

• 24d · Other expenses: Common Area Fees

  total $277,137 · program services $263,663 · management and general $13,474

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,442 · end of year $2,691

• 2 · Savings and temporary cash investments

  beginning of year $8,460,385 · end of year $4,696,377

• 4 · Accounts receivable

  beginning of year $9,881,226 · end of year $13,479,193

• 7 · Other notes and loans receivable

  beginning of year $7,670,226 · end of year $7,680,186

• 8 · Inventories for sale or use

  beginning of year $1,621,772 · end of year $1,677,698

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,026,359 · end of year $1,124,849

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

  $55,775,525

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

  $40,191,771

• 10c · Land, buildings and equipment, net

  beginning of year $15,312,076 · end of year $15,583,754

• 11 · Investments: publicly traded securities

  beginning of year $36,541,886 · end of year $38,791,772

• 12 · Investments: other securities

  beginning of year $5,000 · end of year $5,000

• 14 · Intangible assets

  beginning of year $838,502 · end of year $531,500

• 15 · Other assets

  beginning of year $7,619,296 · end of year $8,101,114

• 17 · Accounts payable and accrued expenses

  beginning of year $7,968,761 · end of year $10,576,223

• 20 · Tax-exempt bond liabilities

  beginning of year $10,285,931 · end of year $9,656,440

• 25 · Other liabilities

  beginning of year $5,112,513 · end of year $3,532,756

• 27 · Net assets without donor restrictions

  beginning of year $64,716,982 · end of year $67,049,139

• 28 · Net assets with donor restrictions

  beginning of year $894,983 · end of year $859,576

The filer's explanations (Part III)

Part I, Line 7

Bonuses were approved at the discretion of the Board and Management for meeting certain criteria. Compensation for the CEO is determined via a compensation committee, information, board approval and written employment contract. Physician contracts include a provision that they may earn the following bonuses: Productivity, Quality and Patient Experience. The Quality and Patient Experience bonuses are granted if particular targets are met, and the maximum bonus for each of these is $3,000. The Productivity Bonus is established to reward efficiency and access. The bonus is paid when the physician has exceeded a predetermined target which is established using market compensation and productivity data of similar type organizations.

Related corporations and trusts

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

• Speare Health Network LLC

  C · Physician/Hospital Organization · NH · 50% owned · share of assets $20,728

  Directly controlled by Speare Memorial Hospital

• Speare Health Ventures Inc

  C · Healthcare Services · NH · 100% owned · share of income $2,703,442 · share of assets $2,420,868 · controlled entity

  Directly controlled by Speare Memorial Hospital