Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $255,003 · excluded $255,003

• 7a · Gross sales of assets other than inventory

  securities $8,937,489

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

  securities $9,028,028

• 7c · Gain or loss

  securities -$90,539

• 7d · Net gain or loss

  total -$90,539 · excluded -$90,539

Functional expenses

Part IX, the statement of functional expenses.

• 24a · Other expenses: CLAIMS PAID

  total $671,119 · program services $671,119

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $590,801 · end of year $165,474

• 3 · Pledges and grants receivable

  beginning of year $54,992 · end of year $53,704

• 11 · Investments: publicly traded securities

  beginning of year $10,860,076 · end of year $9,157,810

• 25 · Other liabilities

  beginning of year $11,505,869 · end of year $9,376,988

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4

SUZANNE WENDEROTH, MD 0 76,047 0 CHARLES BARBERA, MD 0 55,106 0 JOHN CASEY, MD 0 36,989 0

SCHEDULE J, PART III

PART I, LINE 4B THE 457(F) PLAN IS A TAX-DEFERRED RETIREMENT PLAN CONSISTING OF EMPLOYER CONTRIBUTIONS THAT ARE DESIGNED TO HELP SUPPLEMENT THE RETIREMENT SAVINGS FOR KEY EMPLOYEES. THE EMPLOYEE IS IMMEDIATELY ELIGIBLE TO RECEIVE READING HOSPITAL CONTRIBUTIONS TO THE 457(F) DEFERRED COMPENSATION PLAN. THE EMPLOYEE MUST BE EMPLOYED ON DECEMBER 31 TO RECEIVE THE EMPLOYER CONTRIBUTION FOR THAT PLAN YEAR. THE EMPLOYEE SHALL BECOME 100% VESTED IN THE EMPLOYER CONTRIBUTION FOR THAT PLAN YEAR THREE YEARS AFTER THE CONTRIBUTION HAS BEEN MADE TO THE ACCOUNT. THE EMPLOYEE WILL ALSO BECOME 100% VESTED IN ALL OF THE EMPLOYER CONTRIBUTIONS: 1) UPON ATTAINING THE AGE 65 WHILE STILL EMPLOYED BY READING HOSPITAL 2) DUE TO DEATH OR DISABILITY 3) UPON TERMINATION OF EMPLOYMENT WITHOUT CAUSE THIS ORGANIZATION DOES NOT PAY THE COMPENSATION REPORTED FROM RELATED ENTITIES. THE COMPENSATION OF EXECUTIVES IS DETERMINED BY READING HOSPITAL'S BOARD OF DIRECTORS, WHICH HAS DULY APPOINTED AN EXECUTIVE COMPENSATION COMMITTEE (THE "COMMITTEE"), WHICH IS RESPONSIBLE FOR THE REVIEW AND APPROVAL OF ALL COMPENSATION AND BENEFITS PROVIDED TO THE HOSPITAL'S EXECUTIVE MANAGEMENT. THE COMMITTEE HAS ADOPTED A WRITTEN EXECUTIVE COMPENSATION PHILOSOPHY STATEMENT AND AN EXECUTIVE COMPENSATION COMMITTEE CHARTER GOVERNING THE WORK AND REVIEW PROCESS OF THE COMMITTEE. THE COMMITTEE FOLLOWS THE PROCEDURES DESCRIBED IN THE PHILOSOPHY STATEMENT AND THE CHARTER WHEN IT REVIEWS AND APPROVES THE COMPENSATION AND EMPLOYEE BENEFITS PROVIDED TO THE HOSPITAL'S SENIOR MANAGEMENT, INCLUDING THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER. THE COMMITTEE'S REVIEW ANALYZES EVERY ELEMENT OF COMPENSATION, INCLUDING CURRENT AND DEFERRED COMPENSATION, AND BENEFITS, INCLUDING QUALIFIED AND NON-QUALIFIED BENEFITS. THE COMMITTEE CONDUCTS ITS REVIEW AND APPROVAL PROCESS AT LEAST ANNUALLY, AND APPROVES COMPENSATION AND BENEFITS ONLY TO THE EXTENT THAT THE COMMITTEE HAS CONCLUDED THAT THE COMPENSATION AND BENEFITS CONSTITUTE NO MORE THAN REASONABLE COMPENSATION FOR EACH EXECUTIVE. THE COMMITTEE CONSISTS ENTIRELY OF DISINTERESTED MEMBERS OF THE BOARD, AND THE COMMITTEE WORKS WITH AN INDEPENDENT COMPENSATION CONSULTANT TO PREPARE AND REVIEW IN ADVANCE COMPREHENSIVE DATA SHOWING THE COMPENSATION PROVIDED BY SIMILARLY SITUATED ORGANIZATIONS FOR FUNCTIONALLY SIMILAR POSITIONS. THE COMMITTEE ALSO PREPARES A TIMELY AND THOROUGH WRITTEN RECORD OF ITS DELIBERATIONS AND CONCLUSIONS. AS A RESULT, THE COMMITTEE'S REVIEW PROCESS IS DESIGNED TO SATISFY THE PROCEDURAL CRITERIA NECESSARY TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE FEDERAL INCOME TAX LAW INTERMEDIATE SANCTIONS RULES.

Related partnerships

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

• READING - UPMC JOINT VENTURE LLC

  HEALTHCARE · PA

Related corporations and trusts

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

• TOWER HEALTH PPO FKA BHP

  C CORP · PPO · PA

  Directly controlled by NA

• MEDICUS RESOURCE MANAGEMENT

  C CORP · CM REVIEW · PA

  Directly controlled by NA

• TOWER HEALTH RECIPROCAL RISK

  C CORP · INSURANCE · SC

  Directly controlled by NA