Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL INCOME

  total $4,794,257 · related or exempt $4,794,257

• 3 · Investment income

  total $26,240 · excluded $26,240

• 6a · Gross rents

  real property $126,925

• 6b · Less rental expenses

  real property $131,799

• 6c · Rental income or loss

  real property -$4,874

• 6d · Net rental income or loss

  total -$4,874 · excluded -$4,874

Functional expenses

Part IX, the statement of functional expenses.

• 11g · Fees: other

  total $971,841

• 13 · Office expenses

  total $95,223

• 16 · Occupancy

  total $1,445,918

• 20 · Interest

  total $19,683

• 22 · Depreciation, depletion and amortization

  total $4,389,229

Balance sheet

Part X, book values.

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

  $113,348,398

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

  $54,766,548

• 10c · Land, buildings and equipment, net

  beginning of year $58,343,564 · end of year $58,581,850

• 11 · Investments: publicly traded securities

  beginning of year $773,076 · end of year $785,774

• 17 · Accounts payable and accrued expenses

  beginning of year $1,034,058 · end of year $447,618

• 25 · Other liabilities

  beginning of year $953,070 · end of year $967,382

• 27 · Net assets without donor restrictions

  beginning of year $57,129,512 · end of year $57,952,624

The filer's explanations (Part III)

PART I, LINE 4B

THE ORGANIZATION MADE CONTRIBUTIONS TO A SERP FOR THE FOLLOWING INDIVIDUALS LISTED ON PAGE 7 OF FORM 990: BENJAMIN GILL: $170,077 KARA PLUMMER: $59,335 THE SERP PLAN IS AVAILABLE ONLY TO INDIVIDUALS WHO HAVE HELD AN EXECUTIVE POSITION FOR ONE YEAR. THE SERP WILL VEST UPON THE OCCURRENCE OF THE FOLLOWING EVENTS: - THE DATE OF THE EXECUTIVE'S DEATH - THE DATE THE EXECUTIVE BECOMES TOTALLY DISABLED - THE DATE A CHANGE OF CONTROL OCCURS - THE EXECUTIVE REACHING THE AGE OF 60 YEARS IF AN EXECUTIVE SEVERS EMPLOYMENT OR IS TERMINATED, A NONCOMPETE AGREEMENT IS IN PLACE FOR 2 YEARS. THE EXECUTIVE FORFEITS ANY SERP PAYMENTS IF HE/SHE DOES NOT CONFORM TO THE NONCOMPETE AGREEMENT. THE EXECUTIVE MUST HAVE FIVE YEARS OF SERP SERVICE BEFORE ENDING THE EMPLOYMENT IN ORDER TO VEST. THE SERP CONTRIBUTIONS LISTED ABOVE ARE INCLUDED IN COMPENSATION REPORTED IN SCHEDULE J, PART II, COLUMN C. NONE OF THE INDIVIDUALS LISTED ON PAGE 7 OF FORM 990, RECEIVED A VESTED SERP PAYMENT DURING THE CALENDAR YEAR. SOMC MEDICAL CARE FOUNDATION, INC, A RELATED ORGANIZATION, MADE CONTRIBUTIONS TO A CERP (COMMUNITY EMERGENCY RESPONSE PLAN). THE CERP PROGRAM IS AN INCENTIVE PROGRAM FOR PHYSICIANS TO BE AVAILABLE ON CALL IN THE EVENT OF AN EMERGENCY. THE PHYSICIAN WILL VEST IN THE PLAN IF ANY OF THE FOLLOWING THREE CONDITIONS ARE MET: - PARTICIPATE IN THE CERP PROGRAM FOR 10 YEARS, IF ENTERED THE PLAN AFTER 2007 - REACH THE AGE OF 60 YEARS AFTER COMPLETING 20 YEARS OF SERVICE - REACH THE AGE OF 65 YEARS THE ORGANIZATION MADE CONTRIBUTIONS TO A CERP FOR THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII: JESSE HOUGHTON: $11,400 JOSEPH HERRMANN: $14,364 ELIE SAAB: $14,877 THE AMOUNT LISTED ABOVE IS INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN C. THE FOLLOWING INDIVIDUALS LISTED ON PAGE 7 OF FORM 990 RECEIVED A VESTED CERP PAYMENT DURING THE CALENDAR YEAR: ELIE SAAB: $15,189 THE VESTED PAYMENT AMOUNTS LISTED ABOVE ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III).

PART I, LINE 3:

COMPENSATION PAID TO THE ORGANIZATION'S CEO IS ESTABLISHED BY A RELATED ORGANIZATION AND INCLUDES USE OF AN INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEYS, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.