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Nonprofiteer
← BELOIT HEALTH SYSTEM INC

Form 990 for tax year 2024

Filed by BELOIT HEALTH SYSTEM INC.

Totals

Total revenue
$297,175,863
Total expenses
$293,286,088
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$288,753,391
Investment income
$3,628,050
Other revenue
$4,794,422
Total assets, end of year
$290,930,011
Total liabilities, end of year
$106,667,755
Net assets or fund balances, end of year
$184,262,256
Program services expenses (Part IX)
$247,356,956
Management and general expenses
$45,929,132
Fundraising expenses
$0
Program service expenses (Part III)
$247,356,956

Program services were 84.3% 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: Outpatient Service Revenue

    total $220,094,473 · related or exempt $220,094,473 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Inpatient Service Revenue

    total $68,658,918 · related or exempt $68,658,918 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $3,628,050 · related or exempt $0 · unrelated business $0 · excluded $3,628,050

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

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $515,602 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $515,602 · personal property $0

  • 6d · Net rental income or loss

    total $515,602 · related or exempt $0 · unrelated business $0 · excluded $515,602

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Wellness Center and Spa Revenue

    total $2,597,640 · related or exempt $0 · unrelated business $0 · excluded $2,597,640

  • 11b · Other revenue: Cafeteria and VIP Grille Revenue

    total $615,398 · related or exempt $0 · unrelated business $0 · excluded $615,398

  • 11d · All other revenue

    total $1,065,782 · related or exempt $0 · unrelated business $0 · excluded $1,065,782

  • 11e · Other revenue, total

    $4,278,820

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $7,244,900 · program services $4,143,711 · management and general $3,101,189 · fundraising $0

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

    total $111,556,112 · program services $94,310,765 · management and general $17,245,347 · fundraising $0

  • 8 · Pension plan contributions

    total $2,853,164 · program services $2,364,515 · management and general $488,649 · fundraising $0

  • 9 · Other employee benefits

    total $28,602,286 · program services $23,618,800 · management and general $4,983,486 · fundraising $0

  • 10 · Payroll taxes

    total $7,512,194 · program services $6,225,613 · management and general $1,286,581 · fundraising $0

  • 11b · Fees: legal

    total $376,008 · program services $7,189 · management and general $368,819 · fundraising $0

  • 11c · Fees: accounting

    total $122,833 · program services $0 · management and general $122,833 · fundraising $0

  • 11g · Fees: other

    total $20,451,057 · program services $19,484,322 · management and general $966,735 · fundraising $0

  • 12 · Advertising and promotion

    total $1,928,669 · program services $224,599 · management and general $1,704,070 · fundraising $0

  • 13 · Office expenses

    total $59,457,758 · program services $55,993,109 · management and general $3,464,649 · fundraising $0

  • 14 · Information technology

    total $7,876,743 · program services $6,527,727 · management and general $1,349,016 · fundraising $0

  • 16 · Occupancy

    total $7,365,881 · program services $5,353,848 · management and general $2,012,033 · fundraising $0

  • 17 · Travel

    total $191,352 · program services $161,723 · management and general $29,629 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $8,662 · program services $1,559 · management and general $7,103 · fundraising $0

  • 20 · Interest

    total $3,756,903 · program services $2,757,567 · management and general $999,336 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $9,428,608 · program services $8,154,615 · management and general $1,273,993 · fundraising $0

  • 23 · Insurance

    total $1,896,080 · program services $1,553,815 · management and general $342,265 · fundraising $0

  • 24a · Other expenses: Other Purchased Services

    total $9,237,186 · program services $4,875,622 · management and general $4,361,564 · fundraising $0

  • 24b · Other expenses: Equipment Rental and Maintenance

    total $7,127,451 · program services $6,380,086 · management and general $747,365 · fundraising $0

  • 24c · Other expenses: WI Provider Tax

    total $5,092,413 · program services $5,092,413 · management and general $0 · fundraising $0

  • 24d · Other expenses: Collections Expense

    total $789,795 · program services $0 · management and general $789,795 · fundraising $0

  • 24e · All other expenses

    total $410,033 · program services $125,358 · management and general $284,675

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,993 · end of year $8,093

  • 2 · Savings and temporary cash investments

    beginning of year $23,021,240 · end of year $26,203,507

  • 4 · Accounts receivable

    beginning of year $36,348,142 · end of year $46,603,757

  • 7 · Other notes and loans receivable

    beginning of year $5,577,710 · end of year $2,493,256

  • 8 · Inventories for sale or use

    beginning of year $6,976,651 · end of year $7,597,378

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,462,500 · end of year $1,934,168

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

    $299,221,068

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

    $178,535,918

  • 10c · Land, buildings and equipment, net

    beginning of year $121,944,223 · end of year $120,685,150

  • 11 · Investments: publicly traded securities

    beginning of year $73,065,707 · end of year $72,994,915

  • 14 · Intangible assets

    beginning of year $3,300,000 · end of year $3,300,000

  • 15 · Other assets

    beginning of year $7,920,042 · end of year $9,109,787

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,694,137 · end of year $34,069,892

  • 19 · Deferred revenue

    beginning of year $6,690,923 · end of year $8,021,703

  • 20 · Tax-exempt bond liabilities

    beginning of year $64,859,460 · end of year $62,682,698

  • 23 · Secured mortgages and notes payable

    beginning of year $147,530 · end of year $21,549

  • 25 · Other liabilities

    beginning of year $2,790,651 · end of year $1,871,913

  • 27 · Net assets without donor restrictions

    beginning of year $173,441,507 · end of year $184,262,256

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

Beloit Health System provides quality medical health care regardless of race, creed, sex, national origin, disability, age or ability to pay. During 2024, the System's Hospital served over 4,600 inpatients including newborns and provided more than 822,000 outpatient services, the NorthPointe facility provided more than 97,000 outpatient services and the Clinics provided more than 217,000 encounters. The Health System is equipped to serve the greater Beloit areas entire spectrum of health needs and strives to continue the long-standing tradition of providing excellent general acute care and to better serve the greater Beloit area.

Activities or mission (Part I)

The mission of Beloit Health System, Inc. is to be the leader in regional health and wellness services that delivers high quality value and satisfaction to our patients and communities we serve.

  • Inpatient Revenue: Total adult admissions of 4,336 with an average daily census of 55 and an average length of stay of 4.6 days. This is in comparison to 2023 where admissions were 4,187 with an average daily census of 52 and an average length of stay of 4.5 days. Total patient days were 20,006 compared to 18,939 in 2023.

    Expenses $58,815,798 · Revenue $68,658,918

  • Outpatient Revenue: Total Hospital and NorthPointe outpatient procedures for 2024 were just over 919,000 compared to just over 838,000 in 2023. Total Physician Clinic encounters were just over 217,000, an increase from 208,000 in 2023 due to active physician recruitment and increases in physician RVU's year over year.

    Expenses $188,541,158 · Revenue $220,094,473

As filed on the 2024 return.

Listed in Part VII

  • Timothy M McKevett

    Non Voting Board Member & System President & CEO

    Total calculated
    $1,306,598
    From this org
    $1,161,259
    From related orgs
    $0
    Other
    $145,339
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $681,200
    Bonus
    $195,967
    Other
    $284,092
    Deferred
    $145,339
    Nontaxable benefits
    $0
    Filer's total
    $1,306,598

  • Roger Kapoor MD

    VP of Physician Clinics/Medical Affairs/Physician

    Total calculated
    $1,127,069
    From this org
    $1,113,269
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,027,922
    Bonus
    $85,347
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $1,127,069

  • Leo Egbujiobi MD

    Board Member & Physician

    Total calculated
    $1,124,382
    From this org
    $1,110,582
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,110,582
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $1,124,382

  • Paul Segal MD

    Physician

    Total calculated
    $958,750
    From this org
    $944,950
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $944,950
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $958,750

  • Kevin Tomera MD

    Physician

    Total calculated
    $941,852
    From this org
    $928,052
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $928,052
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $941,852

  • Charles Laham MD

    Physician

    Total calculated
    $914,923
    From this org
    $901,123
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $901,123
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $914,923

  • Bin Jatta MD

    Physician

    Total calculated
    $888,523
    From this org
    $874,723
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $874,723
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $888,523

  • Zachary Zimmerman MD

    Physician

    Total calculated
    $878,502
    From this org
    $864,702
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $864,702
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $878,502

  • Tsu-Hon Wang MD

    Board Secretary & Physician

    Total calculated
    $829,054
    From this org
    $815,254
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $815,254
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $829,054

  • Jamie Frantz MD

    Board Member & Physician

    Total calculated
    $826,535
    From this org
    $812,735
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $812,735
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $826,535

  • James Bird

    VP of Financial Services

    Total calculated
    $458,064
    From this org
    $444,264
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $387,957
    Bonus
    $56,307
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $458,064

  • Robert Lisek MD

    Board Member & Physician

    Total calculated
    $447,281
    From this org
    $433,481
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $433,481
    Bonus
    $0
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $447,281

  • Kenneth Klein MD

    Board Member & Physician

    Total calculated
    $429,887
    From this org
    $429,887
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,887
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $429,887

  • Thomas McCawley

    VP of Human Relations

    Total calculated
    $343,557
    From this org
    $330,091
    From related orgs
    $0
    Other
    $13,466
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,408
    Bonus
    $45,683
    Other
    $0
    Deferred
    $13,466
    Nontaxable benefits
    $0
    Filer's total
    $343,557

  • Sharon Cox

    VP of Nursing Services

    Total calculated
    $323,968
    From this org
    $311,238
    From related orgs
    $0
    Other
    $12,730
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,995
    Bonus
    $35,243
    Other
    $0
    Deferred
    $12,730
    Nontaxable benefits
    $0
    Filer's total
    $323,968

  • Nommo Donald

    Vice President

    Total calculated
    $294,409
    From this org
    $282,840
    From related orgs
    $0
    Other
    $11,569
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,410
    Bonus
    $30,430
    Other
    $0
    Deferred
    $11,569
    Nontaxable benefits
    $0
    Filer's total
    $294,409

  • Bonnie Wetter

    Board Chair

    Total calculated
    $0
    Hours/week
    0

  • John Wong

    Board Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • Kathy Hendricks

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • James Packard

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • William DeLong

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Kristi Cole PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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)

Schedule J, Part I, Line 1a
Memberships and paid on behalf of all individuals listed on Part VII Section A. These memberships are to the Health System's Fitness Center as well as different social clubs and organization. This promotes overall health and wellness, social aspects, and getting involved in the community for the Board and key employees of Beloit Health System.
Schedule J, Part I, Line 4
409(a) Plan Participant is Timothy McKevett. $284,092 was received in 2024

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.

Provenance

Return type
form_990
Tax year
2024
Filed
24 July 2025
IRS schema version
2024v5.0
Source object
202533119349304113

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