Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $6,253,541

• 1e · Government grants (contributions)

  $2,847,208

• 1f · All other contributions, gifts and grants

  $0

• 1g · Noncash contributions included above

  $6,306

• 2a · Program service revenue: Outpatient care

  total $802,628,865 · related or exempt $802,628,865 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Capitation revenue

  total $738,639,993 · related or exempt $738,639,993 · unrelated business $0 · excluded $0

• 2c · Program service revenue: Revenue from affiliated entities

  total $2,362,744 · related or exempt $2,362,744 · unrelated business $0 · excluded $0

• 2d · Program service revenue: Medicare/Medicaid payments

  total $47,178,575 · related or exempt $47,178,575 · unrelated business $0 · excluded $0

• 2e · Program service revenue: Rental income

  total $7,578,040 · related or exempt $7,578,040 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $9,945,167 · related or exempt $9,536,179 · unrelated business $408,988 · excluded $0

• 3 · Investment income

  total $84,440,123 · related or exempt $0 · unrelated business $0 · excluded $84,440,123

• 4 · Income from investment of tax-exempt bond proceeds

  total $153 · related or exempt $0 · unrelated business $0 · excluded $153

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 7a · Gross sales of assets other than inventory

  securities $105,984,398 · other assets $1,000

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

  securities $100,835,914 · other assets $341

• 7c · Gain or loss

  securities $5,148,484 · other assets $659

• 7d · Net gain or loss

  total $5,149,143 · related or exempt $0 · unrelated business $0 · excluded $5,149,143

• 8a · Fundraising events: gross income

  $0

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

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0 · unrelated business $0 · excluded $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11a · Other revenue: SCMG Management Fee

  total $51,629,493 · related or exempt $0 · unrelated business $0 · excluded $51,629,493

• 11b · Other revenue: Call Center Services

  total $356,018 · related or exempt $0 · unrelated business $0 · excluded $356,018

• 11c · Other revenue: Medical Records Copying

  total $107,530 · related or exempt $0 · unrelated business $0 · excluded $107,530

• 11d · All other revenue

  total -$411,018 · related or exempt $0 · unrelated business $0 · excluded -$411,018

• 11e · Other revenue, total

  $51,682,023

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $411,066 · program services $411,066

• 2 · Grants to domestic individuals

  total $229,000 · program services $229,000

• 3 · Grants to foreign organizations and individuals

  total $0 · program services $0

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $10,488,916 · program services $0 · management and general $10,488,916 · fundraising $0

• 6 · Compensation of disqualified persons

  total $149 · program services $0 · management and general $149 · fundraising $0

• 7 · Other salaries and wages

  total $522,405,823 · program services $236,225,223 · management and general $286,180,600 · fundraising $0

• 8 · Pension plan contributions

  total $20,361,558 · program services $6,920,727 · management and general $13,440,831 · fundraising $0

• 9 · Other employee benefits

  total $79,648,257 · program services $34,553,534 · management and general $45,094,723 · fundraising $0

• 10 · Payroll taxes

  total $40,584,652 · program services $17,870,106 · management and general $22,714,546 · fundraising $0

• 11a · Fees: management

  total $0 · program services $0 · management and general $0 · fundraising $0

• 11b · Fees: legal

  total $2,810,366 · program services $40,193 · management and general $2,770,173 · fundraising $0

• 11c · Fees: accounting

  total $1,016,585 · program services $0 · management and general $1,016,585 · fundraising $0

• 11d · Fees: lobbying

  total $130,100 · program services $0 · management and general $130,100 · fundraising $0

• 11e · Fees: professional fundraising services

  total $0 · fundraising $0

• 11f · Fees: investment management

  total $1,883,437 · program services $0 · management and general $1,883,437 · fundraising $0

• 11g · Fees: other

  total $684,466,101 · program services $648,878,188 · management and general $35,587,913 · fundraising $0

• 12 · Advertising and promotion

  total $5,658,447 · program services $320,464 · management and general $5,337,983 · fundraising $0

• 13 · Office expenses

  total $26,890,183 · program services $15,254,383 · management and general $11,635,800 · fundraising $0

• 14 · Information technology

  total $149,712,955 · program services $546,102 · management and general $149,166,853 · fundraising $0

• 15 · Royalties

  total $0 · program services $0 · management and general $0 · fundraising $0

• 16 · Occupancy

  total $37,975,024 · program services $29,316,559 · management and general $8,658,465 · fundraising $0

• 17 · Travel

  total $763,763 · program services $115,310 · management and general $648,453 · fundraising $0

• 18 · Travel or entertainment for public officials

  total $0 · program services $0 · management and general $0 · fundraising $0

• 19 · Conferences, conventions and meetings

  total $0 · program services $0 · management and general $0 · fundraising $0

• 20 · Interest

  total -$2,812,806 · program services -$308,154 · management and general -$2,504,652 · fundraising $0

• 21 · Payments to affiliates

  total $0 · program services $0 · management and general $0 · fundraising $0

• 22 · Depreciation, depletion and amortization

  total $39,106,006 · program services $15,277,789 · management and general $23,828,217 · fundraising $0

• 23 · Insurance

  total $6,905,200 · program services $6,068,360 · management and general $836,840 · fundraising $0

• 24a · Other expenses: Purchased Medical Services from Affiliates

  total $430,364,486 · program services $430,364,486 · management and general $0 · fundraising $0

• 24b · Other expenses: Medical Supplies

  total $111,412,122 · program services $110,842,289 · management and general $569,833 · fundraising $0

• 24c · Other expenses: Equipment Maintenance/Repair

  total $8,423,749 · program services $2,441,165 · management and general $5,982,584 · fundraising $0

• 24d · Other expenses: Fundraising

  total $6,199,054 · program services $0 · management and general $0 · fundraising $6,199,054

• 24e · All other expenses

  total $12,967,187 · program services $3,230,464 · management and general $9,736,723 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,089,358 · end of year $2,631,657

• 2 · Savings and temporary cash investments

  beginning of year $203,750,626 · end of year $67,903,940

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $58,527,371 · end of year $59,069,526

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $1,305,717 · end of year $1,508,110

• 8 · Inventories for sale or use

  beginning of year $20,130,595 · end of year $21,258,861

• 9 · Prepaid expenses and deferred charges

  beginning of year $53,921,798 · end of year $61,131,626

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

  $1,115,845,255

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

  $515,012,715

• 10c · Land, buildings and equipment, net

  beginning of year $554,924,629 · end of year $600,832,540

• 11 · Investments: publicly traded securities

  beginning of year $2,775,612,661 · end of year $3,411,130,820

• 12 · Investments: other securities

  beginning of year $24,721,513 · end of year $36,338,193

• 13 · Investments: program-related

  beginning of year $118,264,488 · end of year $161,456,285

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $1,201,242,332 · end of year $1,650,266,071

• 17 · Accounts payable and accrued expenses

  beginning of year $434,134,833 · end of year $494,520,620

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $4,618,473 · end of year $851,868

• 20 · Tax-exempt bond liabilities

  beginning of year $1,152,126,517 · end of year $1,511,363,604

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $3,277,518,331 · end of year $3,881,392,831

• 27 · Net assets without donor restrictions

  beginning of year $48,665,639 · end of year $79,604,465

• 28 · Net assets with donor restrictions

  beginning of year $97,427,295 · end of year $105,794,241

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

MONTHLY DUES PAID TO THE UNIVERSITY CLUB FOR CHRIS HOWARD, PRESIDENT/CEO, AND BRETT MCCLAIN, EVP HOSPITAL OPERATIONS. THE UNIVERSITY CLUB MEMBERSHIPS ARE USED FOR BUSINESS PURPOSES.

Schedule J, Part I, Line 4a Severance or change-of-control payment

During the tax year, Sharp HealthCaremadeseverancepayments to Lisa Allen (Former Key Employee) and Pablo Velez-Carillo (Former Key Employee). Theseverancepayments below were made in accordance with the terms of their individual separation agreements and the organization's executive compensation policies. These payments were not contingent on a change of control and did not include any supplemental retirement or equity-based compensation. Lisa Montgomery Allen - $941,173 Pablo Velez-Carrillo - $675,577

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

Sharp HealthCare ("Company") sponsors an Executive Flexible Benefit Plan ("Plan") to provide designated executives with a reasonable level of benefits in return for their continued employment with the Company. The Plan is administered on a Plan Year basis of January 1 to December 31. Changes in Flexible Benefit Options are permitted annually, effective January 1 of the new Plan Year. The provisions of the Plan, which were restated effective as of December 31, 2008, are described below as restated. The Plan is available to the Chief Executive Officer, Executive Vice President of Hospital Operations, and Senior Vice Presidents. The Flexible Benefit Allowance available to each participant each plan year shall equal the sum of the following: - A company provided base allowance equal to 18% of the participant's base salary - A participant deferral up to 6% of the participant's pre-tax base salary for such plan year as elected by the participant - A company match should the participant make an elective deferral for a plan year. The company match begins at 2% for the first 1% elective deferral and increases 0.5% for each additional 1% elective deferral, to a maximum match of 4.5% on a 6% elective deferral. The Plan allows participants to use the Flexible Benefit Allowance to purchase additional long-term disability coverage, long-term care coverage, and flexible survivor coverage/accumulation benefits (life insurance). Participants in the flexible survivor coverage/accumulation benefits plan previously could elect to apply Flexible Benefit Allowance to acquire additional survivor coverage, or toward deposits to the Supplemental Survivor Accumulation Benefit Plan ("SSAB") to fund post-retirement survivor benefits, subject to the ERISA limit provided their policies were issued prior to September 18, 2003. The Company shall automatically continue whatever elective coverage and additional deposit elections that were in place for the SSAB during the 2008 plan year. No elective coverage or additional deposits were available to participants whose policies were issued on or after September 18, 2003. Any Flexible Benefit Allowance that remains after purchasing these additional coverages shall be paid to the participant in cash in equal installments throughout the Plan Year, not less frequently than quarterly. If the participant separates from service during the Plan Year, the participant forfeits any unpaid Allowance. During the year ended December 31, 2023, no participants received distributions from the plan.

Related partnerships

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

• SHARP AND CHILDREN'S MRI CENTER LLC

  Related · IMAGING · CA · 0% owned · share of income -$306,443 · share of assets $0 · general or managing partner

  Directly controlled by NA

• SHARP HEALTHCARE ACO-II LLC

  Related · OFFICES OF PHYSICIANS · CA · 58.25% owned · share of income $0 · share of assets $0

  Directly controlled by NA

• SHARP FREESTANDING SURGERY LLC

  Related · FREESTANDING AMBULATORY SURGERY · CA · 90% owned · share of income -$1,514,791 · share of assets $12,882,967

  Directly controlled by SHARP HEALTHCARE

Related corporations and trusts

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

• CONTINUOUS QUALITY INSURANCE SPC

  C Corporation · CAPTIVE INSURANCE COMPANY · CJ · 100% owned · share of income $2,279,162 · share of assets $63,702,000 · controlled entity

  Directly controlled by SHARP HEALTHCARE