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Nonprofiteer
← THS PHYSICIAN PARTNERS INC

Form 990 for tax year 2024

Filed by THS PHYSICIAN PARTNERS INC.

Totals

Total revenue
$55,732,560
Total expenses
$98,043,428
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,168,425
Investment income
$0
Other revenue
$564,135
Total assets, end of year
$20,470,953
Total liabilities, end of year
$161,222,829
Net assets or fund balances, end of year
-$140,751,876
Program services expenses (Part IX)
$93,236,901
Management and general expenses
$4,806,527
Fundraising expenses
$0
Program service expenses (Part III)
$93,236,901

Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Healthcare Services

    total $55,132,195 · related or exempt $55,132,195

  • 2b · Program service revenue: Contracted Services - Hospitalists

    total $36,230 · related or exempt $36,230

  • 11a · Other revenue: Aetna Claim Reimbursement

    total $328,769 · related or exempt $328,769

  • 11b · Other revenue: Insurance Incentive

    total $201,133 · related or exempt $201,133

  • 11d · All other revenue

    total $34,233 · related or exempt $34,233

  • 11e · Other revenue, total

    $564,135

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $27,707,920 · program services $25,821,537 · management and general $1,886,383

  • 8 · Pension plan contributions

    total $174,610 · program services $162,722 · management and general $11,888

  • 9 · Other employee benefits

    total $2,028,130 · program services $1,890,053 · management and general $138,077

  • 10 · Payroll taxes

    total $1,319,816 · program services $1,229,962 · management and general $89,854

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $57,598,481 · program services $56,347,018 · management and general $1,251,463

  • 12 · Advertising and promotion

    total $21,674 · program services $144 · management and general $21,530

  • 13 · Office expenses

    total $322,200 · program services $140,708 · management and general $181,492

  • 14 · Information technology

    total $3,097 · program services $149 · management and general $2,948

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $275,668 · program services $136,444 · management and general $139,224

  • 17 · Travel

    total $71,868 · program services $63,038 · management and general $8,830

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $182,289 · program services $5,240 · management and general $177,049

  • 21 · Payments to affiliates

    total $1,576,474 · program services $1,576,474

  • 22 · Depreciation, depletion and amortization

    total $551,265 · program services $16,385 · management and general $534,880

  • 23 · Insurance

    total -$183,406 · program services -$207,319 · management and general $23,913

  • 24a · Other expenses: Bad Debt - Patients

    total $5,524,153 · program services $5,524,153

  • 24b · Other expenses: Medical Pharmaceutical Supplies

    total $379,632 · program services $379,632

  • 24c · Other expenses: Taxes and Licenses

    total $295,674 · program services $8,654 · management and general $287,020

  • 24d · Other expenses: Recruiting

    total $88,553 · program services $88,553

  • 24e · All other expenses

    total $105,330 · program services $53,354 · management and general $51,976

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $10,904,048 · end of year $9,653,757

  • 9 · Prepaid expenses and deferred charges

    beginning of year $323,369 · end of year $6,309,733

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

    $4,847,735

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

    $682,578

  • 10c · Land, buildings and equipment, net

    beginning of year $813,251 · end of year $4,165,157

  • 14 · Intangible assets

    end of year $336,706

  • 15 · Other assets

    beginning of year $5,600 · end of year $5,600

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,783,793 · end of year $49,052,092

  • 25 · Other liabilities

    beginning of year $106,703,483 · end of year $112,170,737

  • 27 · Net assets without donor restrictions

    beginning of year -$98,441,008 · end of year -$140,751,876

Mission and programs · 2024

Mission

To establish, support, manage, and furnish facilities, personnel, and services to provide diagnostic, therapeutic, wellness, health promotion, and other professional medical services to the sick and injured residents of the Kanawha Valley.

Activities or mission (Part I)

To establish, support, manage, and furnish facilities, personnel, and services to provide diagnostic, therapeutic, wellness, health promotion, and other professional medical services to the sick and injured residents of

  • Thomas Health System Physician Partners, Inc. is a multi-specialty physician group that consists of 76 physicians and 87 mid-level providers. Thomas employed physicians provided care to 199,711 patients in 2024.

    Expenses $93,236,901 · Revenue $55,732,560

As filed on the 2024 return.

Listed in Part VII

  • Albert Wright

    Board President Jan - March, WVUHS President

    Total calculated
    $2,726,279
    From this org
    $0
    From related orgs
    $2,297,899
    Other
    $428,380
    Hours/week
    1 + 54.09 related

    Schedule J breakdown matched by us

    Base
    not reported + $1,620,125 related
    Bonus
    not reported + $649,388 related
    Other
    not reported + $28,386 related
    Deferred
    not reported + $390,845 related
    Nontaxable benefits
    not reported + $37,535 related
    Filer's total
    not reported + $2,726,279 related

  • Matthew Stover MD

    Physician

    Total calculated
    $1,410,909
    From this org
    $1,360,377
    From related orgs
    $0
    Other
    $50,532
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,115,282
    Bonus
    $244,555
    Other
    $540
    Deferred
    $15,525
    Nontaxable benefits
    $35,007
    Filer's total
    $1,410,909

  • Freddie Dominick Persinger MD

    Physician

    Total calculated
    $1,360,253
    From this org
    $1,309,681
    From related orgs
    $0
    Other
    $50,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,114,266
    Bonus
    $194,875
    Other
    $540
    Deferred
    $15,525
    Nontaxable benefits
    $35,047
    Filer's total
    $1,360,253

  • Narender R Jogenpally MD

    Physician

    Total calculated
    $1,272,850
    From this org
    $1,219,915
    From related orgs
    $0
    Other
    $52,935
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $843,528
    Bonus
    $369,529
    Other
    $6,858
    Deferred
    $15,525
    Nontaxable benefits
    $37,410
    Filer's total
    $1,272,850

  • John P Ponugupati MD

    Physician

    Total calculated
    $1,149,458
    From this org
    $1,098,886
    From related orgs
    $0
    Other
    $50,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $838,819
    Bonus
    $259,527
    Other
    $540
    Deferred
    $15,525
    Nontaxable benefits
    $35,047
    Filer's total
    $1,149,458

  • Michael Mastromichalis

    Physician

    Total calculated
    $1,025,273
    From this org
    $972,338
    From related orgs
    $0
    Other
    $52,935
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $971,528
    Bonus
    not reported
    Other
    $810
    Deferred
    $15,525
    Nontaxable benefits
    $37,410
    Filer's total
    $1,025,273

  • J Gregory Rosencrance

    Board President April - Dec President of Thomas Memorial Hospital

    Total calculated
    $922,471
    From this org
    $0
    From related orgs
    $813,930
    Other
    $108,541
    Hours/week
    1 + 40.5 related

    Schedule J breakdown matched by us

    Base
    not reported + $599,222 related
    Bonus
    not reported + $175,800 related
    Other
    not reported + $38,908 related
    Deferred
    not reported + $81,687 related
    Nontaxable benefits
    not reported + $26,854 related
    Filer's total
    not reported + $922,471 related

  • Dan Lauffer

    Board Member, Jan - March, President of TMH Services

    Total calculated
    $582,717
    From this org
    $0
    From related orgs
    $541,582
    Other
    $41,135
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    not reported + $534,724 related
    Bonus
    not reported
    Other
    not reported + $6,858 related
    Deferred
    not reported + $15,525 related
    Nontaxable benefits
    not reported + $25,610 related
    Filer's total
    not reported + $582,717 related

  • Aaron Alexander

    Director, April - December

    Total calculated
    $414,711
    From this org
    $0
    From related orgs
    $362,716
    Other
    $51,995
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $291,017 related
    Bonus
    not reported + $42,376 related
    Other
    not reported + $29,323 related
    Deferred
    not reported + $21,394 related
    Nontaxable benefits
    not reported + $30,601 related
    Filer's total
    not reported + $414,711 related

  • Matthew Upton MD

    Board Secretary

    Total calculated
    $397,112
    From this org
    $0
    From related orgs
    $347,799
    Other
    $49,313
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $287,771 related
    Bonus
    not reported + $50,559 related
    Other
    not reported + $9,469 related
    Deferred
    not reported + $33,929 related
    Nontaxable benefits
    not reported + $15,384 related
    Filer's total
    not reported + $397,112 related

  • Jason Gizzi

    Board Interim Vice President

    Total calculated
    $130,221
    From this org
    $0
    From related orgs
    $108,495
    Other
    $21,726
    Hours/week
    1 + 39 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I Line 4b
Greg Rosencrance received deferred compensation of 66,162 in 2024 from a related party Matthew Upton received deferred compensation of 20,904 in 2024 from a related party Aaron Alexander received deferred compensation of 7,851 in 2024 from a related party and Albert Wright received deferred compensation of 375,320 in 2024 from related party. These amounts were properly recorded in deferred compensation on the Form 990 Schedule J.
Part I Line 4b
Aaron Alexander received CAA distributions of 26,170 in 2024 from related party and Greg Rosencrance received CAA distributions of 24,375 in 2024 from related party. These amounts were appropriately reported as compensation on Form W-2 for 2024.
Part I Line 6a
Per the WVUHS Incentive Plan incentives are contingent on meeting a net earning target.
Part I Line 3
The compensation of the CEO is determined by the West Virginia United Health System Compensation Committee based upon a salary and benefit survey prepared by an independent company using data of comparable facilities. This information is provided to the compensation committee which is made up of independent board members who are then responsible for setting the compensation packages offered to each executive, ensuring that the compenstion package does not exceed fair market value based on the data from the consultant group. The minutes of the compensation committee are contemporaneously documented and retained. Full compensation surveys are completed annually.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • Allied Health Services Inc

    C Corp · Linen Services · WV

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202533189349302968

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