Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,126,277

• 1f · All other contributions, gifts and grants

  $510,384

• 2a · Program service revenue: Net Patient Revenue

  total $529,469,729 · related or exempt $529,469,729

• 2b · Program service revenue: Cancer Center JV Income

  total $2,873,569 · related or exempt $2,873,569

• 2c · Program service revenue: Department Revenue

  total $1,747,190 · related or exempt $1,019,459 · unrelated business $727,731

• 2d · Program service revenue: Silver Oaks JV Income

  total $1,373,611 · related or exempt $387,375 · unrelated business $986,236

• 2e · Program service revenue: Surgery Center JV Income

  total $785,310 · related or exempt $785,310

• 2f · All other program service revenue

  total -$924,330 · related or exempt -$924,330

• 3 · Investment income

  total $44,323,429 · excluded $44,323,429

• 6a · Gross rents

  real property $3,726,658

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $3,726,658

• 6d · Net rental income or loss

  total $3,726,658 · excluded $3,726,658

• 7a · Gross sales of assets other than inventory

  securities $309,214

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

  securities $0

• 7c · Gain or loss

  securities $309,214

• 7d · Net gain or loss

  total $309,214 · excluded $309,214

• 11a · Other revenue: Cafeteria Revenue

  total $2,486,406 · excluded $2,486,406

• 11b · Other revenue: Accounts Payable Discounts

  total $80 · excluded $80

• 11e · Other revenue, total

  $2,486,486

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $199,265 · program services $199,265

• 7 · Other salaries and wages

  total $185,049,826 · program services $173,946,836 · management and general $11,102,990

• 8 · Pension plan contributions

  total $7,853,911 · program services $7,382,676 · management and general $471,235

• 9 · Other employee benefits

  total $23,250,816 · program services $21,855,767 · management and general $1,395,049

• 10 · Payroll taxes

  total $13,872,771 · program services $13,040,405 · management and general $832,366

• 11a · Fees: management

  total $9,482,208 · management and general $9,482,208

• 11b · Fees: legal

  total $788,724 · management and general $788,724

• 11c · Fees: accounting

  total $375,000 · management and general $375,000

• 11f · Fees: investment management

  total $95,141 · program services $95,141

• 11g · Fees: other

  total $54,945,004 · program services $54,945,004

• 12 · Advertising and promotion

  total $956,427 · program services $956,427

• 13 · Office expenses

  total $38,497,362 · program services $38,497,362

• 16 · Occupancy

  total $5,248,758 · program services $4,933,833 · management and general $314,925

• 17 · Travel

  total $163,255 · program services $163,255

• 20 · Interest

  total $15,567,976 · program services $15,567,976

• 22 · Depreciation, depletion and amortization

  total $27,186,977 · program services $26,779,172 · management and general $407,805

• 23 · Insurance

  total $12,059,055 · program services $11,917,933 · management and general $141,122

• 24a · Other expenses: Medical Supplies

  total $107,586,625 · program services $107,586,625

• 24b · Other expenses: Public Aid State Tax

  total $22,277,618 · program services $22,277,618

• 24c · Other expenses: Non-Medical Supplies

  total $2,852,185 · program services $2,852,185

• 24d · Other expenses: UBI Tax

  total $113,290 · program services $113,290

• 24e · All other expenses

  total $2,542,434 · program services $2,542,434

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,388,957 · end of year $15,862,311

• 2 · Savings and temporary cash investments

  beginning of year $2,277,845 · end of year $4,316,214

• 3 · Pledges and grants receivable

  beginning of year $373,910 · end of year $78,497

• 4 · Accounts receivable

  beginning of year $61,495,812 · end of year $73,222,795

• 8 · Inventories for sale or use

  beginning of year $9,586,821 · end of year $8,842,397

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,618,930 · end of year $7,211,533

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

  $802,561,315

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

  $387,674,778

• 10c · Land, buildings and equipment, net

  beginning of year $401,297,329 · end of year $414,886,537

• 11 · Investments: publicly traded securities

  beginning of year $286,120,135 · end of year $301,499,866

• 13 · Investments: program-related

  beginning of year $22,220,678 · end of year $27,136,543

• 15 · Other assets

  beginning of year $231,452,261 · end of year $290,567,128

• 17 · Accounts payable and accrued expenses

  beginning of year $77,343,826 · end of year $89,735,396

• 20 · Tax-exempt bond liabilities

  beginning of year $347,445,927 · end of year $338,630,542

• 25 · Other liabilities

  beginning of year $160,536,179 · end of year $203,974,539

• 27 · Net assets without donor restrictions

  beginning of year $443,923,743 · end of year $500,463,410

• 28 · Net assets with donor restrictions

  beginning of year $9,583,003 · end of year $10,819,934

The filer's explanations (Part III)

Part I, Line 3

Silver Cross Health System, the parent organization of Silver Cross Hospital and Medical Centers, uses the following to establish executive compensation: 1) Compensation committee, 2) Independent compensation consultant.

Part I, Line 4b

The supplemental executive retirement program (SERP) is a non-qualified compensation program designed to provide additional, market-competitive retirement benefits to certain management employees. The SERP was designed to provide retirement benefits that take into account an employee's total compensation without regard to the annual limit on compensation that applies under qualified retirement plans. The board has reviewed and approved the SERP benefits, concluding that it is a market-competitive benefit and that the total retirement benefits and total compensation are reasonable when compared to the benefits and compensation provided by similarly situated organizations to employees in comparable positions. For the reporting year the following reported persons participated in the SERP and received the following employer-funded amounts: Ruth Colby - $208,730 and Vincent Pryor - $157,996.

Part I, Line 7

Leadership has partial calculated compensation each year based on individual and corporate goals approved by executive leadership.

Related partnerships

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

• UCMCSCH Oncology JV LLC

  Related · Cancer diagnosis and treatment · IL · 60% owned · share of income $3,152,972 · share of assets $19,244,898

  Directly controlled by University of Chicago Medical Center

• Prime Medical Imaging

  N/A · Outpatient radiological services · IL · 51% owned · share of income -$62,237 · share of assets $1,361,937

  Directly controlled by Silver Cross Hospital and Medical Centers

• Essential Health Partners LLC

  Related · Healthcare provider network · IL · 60% owned · share of income -$3,833,585 · share of assets $14,596,492

  Directly controlled by Silver Cross Hospital and Medical Centers

• Silver Cross MSO LLC

  Related · Managed care · IL · 86.67% owned · share of income $518,256 · share of assets $101,054,483 · general or managing partner

  Directly controlled by Silver Cross Health System

Related corporations and trusts

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

• Health Services Systems Inc

  C · Physician services · IL · controlled entity

  Directly controlled by Silver Cross Health System