Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PARTICIPANT CO-PAY

  total $622,377 · related or exempt $622,377

• 3 · Investment income

  total $1,507,163 · excluded $1,507,163

• 7a · Gross sales of assets other than inventory

  securities $28,351,625

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

  securities $21,197,708

• 7c · Gain or loss

  securities $7,153,917

• 7d · Net gain or loss

  total $7,153,917 · excluded $7,153,917

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $6,781,223

• 11a · Fees: management

  total $167,969

• 11c · Fees: accounting

  total $27,000

• 11f · Fees: investment management

  total $34,092

• 11g · Fees: other

  total $52,508

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,470,732 · end of year $3,329,163

• 4 · Accounts receivable

  beginning of year $176,167 · end of year $798,544

• 11 · Investments: publicly traded securities

  beginning of year $74,919,065 · end of year $82,919,304

• 17 · Accounts payable and accrued expenses

  beginning of year $6,574,377 · end of year $10,413,099

• 27 · Net assets without donor restrictions

  beginning of year $71,991,587 · end of year $76,633,912

The filer's explanations (Part III)

Part I, Line 4b

2023 Supplemental Executive Retirement Plan (SERP) Earned Credits Atlantic Health implemented a non-qualified Supplemental Executive Retirement Plan (SERP) paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. Brian Gragnolati $1,112,605 Michael Walter 117,061 Kevin Lenahan 357,274 The above amounts represent earned credits which have not vested and were not included in theor respective 2023 W-2's compensation. However, the earned credit was included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2023 IRS 990 tax return per IRS guidance. Once the Trustees meet the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. 2023 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following officers received taxable SERP distributions during 2023 based on the vesting criteria of the plan document. These taxable SERP distributions were included in their respective 2023 W-2s and are reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Brian Gragnolati $2,980,366 2023 Mid Career Hire Plan The organization provides a supplemental non-qualified retirement plan (457f plan) known as the Mid-Career Hire Plan (MCHP) for certain officers and key employees. During 2023, the following officer/key employee received vested distributions in this non-qualified retirement plan. Such distributions were included in Box 1, Box 5 and Box 16 of their respective Form W-2: Kevin Lenahan $4,372,618 The Mid Career Hire Plan was terminated effective January 1, 2023. Any existing participants were transferred at that time into the Supplmental Exectiuve Retirement Plan (SERP) as outlined above.