Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $1,056 · excluded $1,056

• 6a · Gross rents

  real property $161,643

• 6b · Less rental expenses

  real property $102,411

• 6c · Rental income or loss

  real property $59,232

• 6d · Net rental income or loss

  total $59,232 · excluded $59,232

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $246,756 · end of year $275,252

• 2 · Savings and temporary cash investments

  beginning of year $194,128 · end of year $195,184

• 9 · Prepaid expenses and deferred charges

  beginning of year $22,699 · end of year $17,835

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

  $1,579,079

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

  $1,319,793

• 10c · Land, buildings and equipment, net

  beginning of year $293,459 · end of year $259,286

• 17 · Accounts payable and accrued expenses

  beginning of year $25,570 · end of year $24,924

• 23 · Secured mortgages and notes payable

  beginning of year $420,925 · end of year $351,562

• 25 · Other liabilities

  beginning of year $12,838 · end of year $13,074

• 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 $297,709 · end of year $357,997

The filer's explanations (Part III)

PART I, LINE 3

MEMORIAL MEDICAL CENTER, INC. DBA TAMARACK HEALTH ASHLAND MEDICAL CENTER, A RELATED ORGANIZATION, PARTICIPATES IN SALARY SURVEYS SPECIFIC TO ADMINISTRATOR POSITIONS. AMC ALSO HAS AN INDEPENDENT COMPENSATION CONSULTING FIRM TO GATHER FAIR MARKET COMPENSATION DATA FOR ALL C LEVEL POSITIONS. THIS INFORMATION IS USED TO DEVELOP SALARY RANGES FOR THE ADMINISTRATIVE STAFF. THE BOARD OF DIRECTORS PARTICIPATES IN DEVELOPMENT OF RANGES AND ESTABLISHMENT OF SALARIES FOR THE THREE SENIOR LEADERS OF THE ORGANIZATION AS DESCRIBED IN CORPORATE BYLAWS AND BOARD POLICIES. ANY CHANGES TO THE BENEFIT PACKAGE MUST BE APPROVED BY THE AMC BOARD OF DIRECTORS. THE BOARD APPROVES ALL COMPENSATION CHANGES FOR THE PRESIDENT AS OUTLINED IN CORPORATE BYLAWS AND BOARD POLICIES. CHANGES IN COMPENSATION FOR THE VICE-PRESIDENTS ARE DETERMINED BY THE PRESIDENT USING RANGES ESTABLISHED AND APPROVED BY THE BOARD, IN CONJUNCTION WITH SALARY SURVEY INFORMATION.