Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $128,730

• 1e · Government grants (contributions)

  $451,070

• 1f · All other contributions, gifts and grants

  $1,978,860

• 2a · Program service revenue: PHYSICIAN OFFICE RENTAL

  total $3,211,704 · related or exempt $3,211,704

• 3 · Investment income

  total $1,026,145 · excluded $1,026,145

• 6a · Gross rents

  real property $79,795

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $79,795

• 6d · Net rental income or loss

  total $79,795 · excluded $79,795

• 7a · Gross sales of assets other than inventory

  securities $2,615,451 · other assets $422,134

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

  securities $2,091,347 · other assets $0

• 7c · Gain or loss

  securities $524,104 · other assets $422,134

• 7d · Net gain or loss

  total $946,238 · excluded $946,238

• 8a · Fundraising events: gross income

  $43,042

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

  $128,730

• 8b · Fundraising events: direct expenses

  $51,500

• 8c · Net income from fundraising events

  total -$8,458 · excluded -$8,458

• 11a · Other revenue: REBATES AND REFUNDS

  total $14,215 · excluded $14,215

• 11e · Other revenue, total

  $14,215

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $488,501 · management and general $323,864 · fundraising $164,637

• 8 · Pension plan contributions

  total $21,143 · management and general $19,799 · fundraising $1,344

• 9 · Other employee benefits

  total $70,584 · management and general $35,534 · fundraising $35,050

• 10 · Payroll taxes

  total $29,690 · management and general $17,264 · fundraising $12,426

• 11b · Fees: legal

  total $108,317 · management and general $108,317

• 11e · Fees: professional fundraising services

  total $88,150 · fundraising $88,150

• 11g · Fees: other

  total $13,304 · program services $8,369 · management and general $42 · fundraising $4,893

• 12 · Advertising and promotion

  total $12,544 · program services $2,172 · management and general $537 · fundraising $9,835

• 13 · Office expenses

  total $26,776 · program services $295 · management and general $19,312 · fundraising $7,169

• 14 · Information technology

  total $12,554 · fundraising $12,554

• 16 · Occupancy

  total $891,476 · program services $872,020 · management and general $19,456

• 17 · Travel

  total $2,681 · management and general $2,602 · fundraising $79

• 19 · Conferences, conventions and meetings

  total $80,092 · management and general $1,226 · fundraising $78,866

• 22 · Depreciation, depletion and amortization

  total $1,205,337 · program services $1,203,394 · management and general $1,943

• 23 · Insurance

  total $63,701 · program services $51,347 · management and general $12,354

• 24a · Other expenses: REPAIR AND MAINTENANCE

  total $802,464 · program services $799,793 · management and general $2,671

• 24e · All other expenses

  total $5,606 · program services $1,523 · management and general $1,119 · fundraising $2,964

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $2

• 2 · Savings and temporary cash investments

  beginning of year $2,194,045 · end of year $4,061,158

• 4 · Accounts receivable

  beginning of year $13,318 · end of year $8,545

• 9 · Prepaid expenses and deferred charges

  beginning of year $16,642 · end of year $11,602

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

  $34,666,787

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

  $10,611,189

• 10c · Land, buildings and equipment, net

  beginning of year $25,807,988 · end of year $24,055,598

• 11 · Investments: publicly traded securities

  beginning of year $45,638,912 · end of year $53,257,767

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $11,523

• 17 · Accounts payable and accrued expenses

  beginning of year $109,964 · end of year $44,703

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $25,412 · end of year $33,701

• 27 · Net assets without donor restrictions

  beginning of year $66,574,424 · end of year $71,912,300

• 28 · Net assets with donor restrictions

  beginning of year $6,972,628 · end of year $9,403,968

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF TOP MANAGEMENT OFFICIAL THE CEO/EXECUTIVE DIRECTOR IS COMPENSATED ENTIRELY THROUGH STURDY MEMORIAL HOSPITAL, INC. THE HOSPITAL USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE EXECUTIVE COMMITTEE TO ESTABLISH THE COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR.

PART I, LINE 4B

SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CERTAIN LISTED INDIVIDUALS PARTICIPATE IN SUPPLEMENTAL NONQUALIFED RETIREMENT PLAN. AS REQUIRED BY IRS INSTRUCTIONS, THE CONTRIBUTIONS TO THESE PLANS, WHICH ARE NOT VESTED AND SUBJECT TO RISK OF FORFEITURE, ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). AMOUNTS VESTED ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III).

PART II, COLUMN B(III):

A ONE-TIME PAYOUT FOR TERMINATION OF EXECUTIVE EARNED TIME PLAN GENERATED ADDITIONAL EMPLOYEE COMPENSATION DURING THE YEAR.

PART II, COLUMN C:

DEFERRED COMPENSATION THIS COLUMN INCLUDES AN ACCRUAL OF BENEFITS RELATED TO THE HOSPITAL'S DEFINED BENEFIT PLAN. THIS ACCRUAL CALCULATION IS COMPLETED BY A THIRD PARTY AND THE ACCRUAL AMOUNT MAY SHIFT DEPENDING ON THE REQUIRED DISCOUNT RATE APPLIED.