Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $559,782

• 1f · All other contributions, gifts and grants

  $123,423

• 2a · Program service revenue: Net Patient Service Revenue

  total $60,030,825 · related or exempt $60,030,825

• 2b · Program service revenue: Other Revenue

  total $1,036,842 · related or exempt $938,429 · excluded $98,413

• 3 · Investment income

  total $415,825 · excluded $415,825

• 7a · Gross sales of assets other than inventory

  securities $91,752

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

  securities $0

• 7c · Gain or loss

  securities $91,752

• 7d · Net gain or loss

  total $91,752 · excluded $91,752

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,858,292 · program services $1,110,940 · management and general $747,352

• 7 · Other salaries and wages

  total $21,961,346 · program services $19,191,630 · management and general $2,769,716

• 8 · Pension plan contributions

  total $802,847 · program services $703,500 · management and general $99,347

• 9 · Other employee benefits

  total $4,496,807 · program services $3,849,452 · management and general $647,355

• 10 · Payroll taxes

  total $1,567,484 · program services $1,332,361 · management and general $235,123

• 11b · Fees: legal

  total $63,833 · program services $298 · management and general $63,535

• 11c · Fees: accounting

  total $128,627 · management and general $128,627

• 11g · Fees: other

  total $16,244,096 · program services $15,084,421 · management and general $1,159,675

• 12 · Advertising and promotion

  total $182,942 · program services $132,011 · management and general $50,931

• 13 · Office expenses

  total $318,484 · program services $274,227 · management and general $44,257

• 16 · Occupancy

  total $1,803,719 · program services $1,707,137 · management and general $96,582

• 17 · Travel

  total $36,014 · program services $29,327 · management and general $6,687

• 20 · Interest

  total $395,762 · program services $395,762

• 22 · Depreciation, depletion and amortization

  total $2,541,601 · program services $2,541,601

• 23 · Insurance

  total $767,092 · program services $675,041 · management and general $92,051

• 24a · Other expenses: Supplies

  total $7,453,018 · program services $7,401,401 · management and general $51,617

• 24b · Other expenses: Service Provider Tax

  total $1,018,113 · program services $1,018,113

• 24c · Other expenses: Dues and Subscriptions

  total $733,715 · program services $657,444 · management and general $76,271

• 24d · Other expenses: Miscellaneous Expense

  total $570,597 · program services $282,103 · management and general $288,494

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,687 · end of year $1,687

• 2 · Savings and temporary cash investments

  beginning of year $16,425,616 · end of year $16,187,961

• 3 · Pledges and grants receivable

  beginning of year $1,550 · end of year $50,000

• 4 · Accounts receivable

  beginning of year $4,363,874 · end of year $5,371,836

• 8 · Inventories for sale or use

  beginning of year $795,415 · end of year $642,961

• 9 · Prepaid expenses and deferred charges

  beginning of year $427,533 · end of year $264,078

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

  $50,519,672

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

  $29,619,040

• 10c · Land, buildings and equipment, net

  beginning of year $23,050,488 · end of year $20,900,632

• 11 · Investments: publicly traded securities

  beginning of year $2,755,743 · end of year $3,032,292

• 14 · Intangible assets

  beginning of year $1,123,208 · end of year $953,503

• 15 · Other assets

  beginning of year $2,038,646 · end of year $649,947

• 17 · Accounts payable and accrued expenses

  beginning of year $5,219,484 · end of year $6,024,313

• 20 · Tax-exempt bond liabilities

  beginning of year $9,732,288 · end of year $9,265,932

• 23 · Secured mortgages and notes payable

  beginning of year $1,979,520 · end of year $791,574

• 25 · Other liabilities

  beginning of year $2,272,822 · end of year $982,205

• 27 · Net assets without donor restrictions

  beginning of year $30,133,551 · end of year $29,323,414

• 28 · Net assets with donor restrictions

  beginning of year $1,646,095 · end of year $1,667,459

The filer's explanations (Part III)

Part I, Line 7

Bonuses awarded to physicians and the CEO are based on three categories: Retention, RVU, or sign on.

Form 990, Part VII, line 5:

Aziz Massaad, Former Trustee, is paid by Down East Medical Associates, an unrelated organization. During calendar year 2023, Down East Community Hospital paid Down East Medical Associates $968,155 for services rendered to Down East Community Hospital. The actual compensation paid to Dr. Massaad by Down East Medical Associates is not known to the Organization. As such, pursuant to the Form 990 instructions, the Organization is reporting the amount paid for services rendered as compensation to Dr. Massaad, and is reporting this amount on Form 990, Part VII, Column D.