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Nonprofiteer
← BELOIT HEALTH SYSTEM INC

Form 990 for tax year 2022

Filed by BELOIT HEALTH SYSTEM INC.

Totals

Total revenue
$260,441,723
Total expenses
$257,059,268
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$253,460,627
Investment income
$2,726,639
Other revenue
$4,254,457
Total assets, end of year
$278,045,148
Total liabilities, end of year
$112,527,661
Net assets or fund balances, end of year
$165,517,487
Program services expenses (Part IX)
$218,001,525
Management and general expenses
$39,057,743
Fundraising expenses
$0
Program service expenses (Part III)
$218,001,525

Program services were 84.8% 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 $196,012,987 · related or exempt $196,012,987 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Inpatient Service Revenue

    total $57,447,640 · related or exempt $57,447,640 · 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 $2,726,639 · related or exempt $0 · unrelated business $0 · excluded $2,726,639

  • 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 $513,642 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $513,642 · personal property $0

  • 6d · Net rental income or loss

    total $513,642 · related or exempt $0 · unrelated business $0 · excluded $513,642

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    total $1,919,967 · related or exempt $0 · unrelated business $0 · excluded $1,919,967

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

    total $436,250 · related or exempt $0 · unrelated business $0 · excluded $436,250

  • 11d · All other revenue

    total $1,384,598 · related or exempt $0 · unrelated business $0 · excluded $1,384,598

  • 11e · Other revenue, total

    $3,740,815

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $6,099,538 · program services $2,673,648 · management and general $3,425,890 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $100,349,958 · program services $85,653,508 · management and general $14,696,450 · fundraising $0

  • 8 · Pension plan contributions

    total $4,491,500 · program services $3,726,851 · management and general $764,649 · fundraising $0

  • 9 · Other employee benefits

    total $22,899,857 · program services $18,964,019 · management and general $3,935,838 · fundraising $0

  • 10 · Payroll taxes

    total $6,947,539 · program services $5,764,765 · management and general $1,182,774 · fundraising $0

  • 11c · Fees: accounting

    total $105,000 · program services $0 · management and general $105,000 · fundraising $0

  • 11g · Fees: other

    total $19,208,969 · program services $18,272,345 · management and general $936,624 · fundraising $0

  • 12 · Advertising and promotion

    total $1,543,829 · program services $180,680 · management and general $1,363,149 · fundraising $0

  • 13 · Office expenses

    total $49,334,281 · program services $45,695,346 · management and general $3,638,935 · fundraising $0

  • 14 · Information technology

    total $8,170,436 · program services $6,779,472 · management and general $1,390,964 · fundraising $0

  • 16 · Occupancy

    total $6,922,546 · program services $5,038,895 · management and general $1,883,651 · fundraising $0

  • 17 · Travel

    total $261,753 · program services $197,140 · management and general $64,613 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $7,023 · program services $3,705 · management and general $3,318 · fundraising $0

  • 20 · Interest

    total $3,500,603 · program services $2,569,443 · management and general $931,160 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $8,460,573 · program services $7,200,550 · management and general $1,260,023 · fundraising $0

  • 23 · Insurance

    total $1,574,916 · program services $1,276,258 · management and general $298,658 · fundraising $0

  • 24a · Other expenses: Equipment Rental and Maintenance

    total $5,939,237 · program services $5,351,542 · management and general $587,695 · fundraising $0

  • 24b · Other expenses: WI Provider Tax

    total $5,519,134 · program services $5,519,134 · management and general $0 · fundraising $0

  • 24c · Other expenses: Other Purchased Services

    total $4,906,140 · program services $3,046,484 · management and general $1,859,656 · fundraising $0

  • 24d · Other expenses: Collections Expense

    total $612,266 · program services $0 · management and general $612,266 · fundraising $0

  • 24e · All other expenses

    total $204,170 · program services $87,740 · management and general $116,430 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,893 · end of year $7,893

  • 2 · Savings and temporary cash investments

    beginning of year $48,120,608 · end of year $31,481,391

  • 4 · Accounts receivable

    beginning of year $41,345,261 · end of year $31,959,003

  • 7 · Other notes and loans receivable

    beginning of year $1,544,758 · end of year $2,926,344

  • 8 · Inventories for sale or use

    beginning of year $6,668,129 · end of year $6,823,475

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,647,537 · end of year $1,994,038

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

    $279,807,788

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

    $162,066,508

  • 10c · Land, buildings and equipment, net

    beginning of year $120,599,025 · end of year $117,741,280

  • 11 · Investments: publicly traded securities

    beginning of year $86,690,390 · end of year $74,568,848

  • 14 · Intangible assets

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

  • 15 · Other assets

    beginning of year $7,683,851 · end of year $7,242,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,618,009 · end of year $31,848,925

  • 19 · Deferred revenue

    beginning of year $6,838,456 · end of year $5,766,836

  • 20 · Tax-exempt bond liabilities

    beginning of year $71,722,284 · end of year $68,326,694

  • 23 · Secured mortgages and notes payable

    beginning of year $383,116 · end of year $267,975

  • 25 · Other liabilities

    beginning of year $12,167,768 · end of year $6,317,231

  • 27 · Net assets without donor restrictions

    beginning of year $173,877,819 · end of year $165,517,487

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

Beloit Health System provides quality medical health care regardless of race, creed, sex, national origin, disability, age or ability to pay. During 2022, the System's Hospital served over 4,400 inpatients including newborns and provided more than 725,000 outpatient services, the NorthPointe facility provided more than 95,000 outpatient services and the Clinics provided more than 191,000 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 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 4,161 with an average daily census of 49 and an average length of stay of 4.3 days. This is in comparison to 2021 where admissions were 3,961 with an average daily census of 47 and an average length of stay of 4.4 days. Total patient days were 17,741 compared to 17,217 in 2021.

    Expenses $49,410,724 · Revenue $57,447,640

  • Outpatient Revenue: Total Hospital and NorthPointe outpatient procedures for 2022 were just over 820,000 compared to just over 920,000 in 2021. Total Physician Clinic encounters were just over 191,000, an increase from 176,000 in 2021 due to physician recruitment and continued outpatient recovery from the COVID-19 pandemic.

    Expenses $168,590,801 · Revenue $196,012,987

As filed on the 2022 return.

Listed in Part VII

  • Timothy M McKevett

    Non Voting Board Member & System President & CEO

    Total calculated
    $1,562,021
    From this org
    $1,618,088
    From related orgs
    $0
    Other
    -$56,067
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $632,922
    Bonus
    $506,650
    Other
    $478,516
    Deferred
    -$56,067
    Nontaxable benefits
    $0
    Filer's total
    $1,562,021

  • Glenn Tan MD

    Physician

    Total calculated
    $1,035,315
    From this org
    $1,015,490
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,015,490
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $1,035,315

  • Leo Egbujiobi MD

    Board Member & Physician

    Total calculated
    $1,005,844
    From this org
    $986,019
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $986,019
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $986,019

  • Roger Kapoor MD

    VP of Physician Clinics/Medical Affairs/Physician

    Total calculated
    $959,708
    From this org
    $939,883
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $694,622
    Bonus
    $245,261
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $959,708

  • David Yoon MD

    Physician

    Total calculated
    $912,400
    From this org
    $892,575
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $892,575
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $912,400

  • Paul Segal MD

    Physician

    Total calculated
    $870,075
    From this org
    $850,250
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $850,250
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $870,075

  • Tsu-Hon Wang MD

    Board Secretary & Physician

    Total calculated
    $846,980
    From this org
    $827,155
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $827,155
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $846,980

  • Steven Yang MD

    Physician

    Total calculated
    $749,418
    From this org
    $729,593
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $729,593
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $749,418

  • Walter Vogel MD

    Physician

    Total calculated
    $719,528
    From this org
    $699,703
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $699,703
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $719,528

  • Kenneth Klein MD

    Former VP of Medical Affairs & Current Physician

    Total calculated
    $462,659
    From this org
    $450,459
    From related orgs
    $0
    Other
    $12,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $450,459
    Bonus
    $0
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $0
    Filer's total
    $462,659

  • Thomas McCawley

    VP of Human Relations

    Total calculated
    $405,688
    From this org
    $385,863
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,117
    Bonus
    $113,746
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $405,688

  • Sharon Cox

    VP of Nursing Services

    Total calculated
    $364,239
    From this org
    $370,409
    From related orgs
    $0
    Other
    -$6,170
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,349
    Bonus
    $119,060
    Other
    $0
    Deferred
    -$6,170
    Nontaxable benefits
    $0
    Filer's total
    $364,239

  • Robert Lisek MD

    Board Member & Physician

    Total calculated
    $339,684
    From this org
    $319,859
    From related orgs
    $0
    Other
    $19,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $319,859
    Bonus
    $0
    Other
    $0
    Deferred
    $19,825
    Nontaxable benefits
    $0
    Filer's total
    $339,684

  • James Bird

    VP of Financial Services

    Total calculated
    $301,491
    From this org
    $294,079
    From related orgs
    $0
    Other
    $7,412
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,079
    Bonus
    $0
    Other
    $0
    Deferred
    $7,412
    Nontaxable benefits
    $0
    Filer's total
    $301,491

  • Nommo Donald

    Vice President

    Total calculated
    $299,592
    From this org
    $287,510
    From related orgs
    $0
    Other
    $12,082
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,942
    Bonus
    $48,568
    Other
    $0
    Deferred
    $12,082
    Nontaxable benefits
    $0
    Filer's total
    $299,592

  • Russel Albert MD

    Board Member & Physician

    Total calculated
    $75,615
    From this org
    $70,673
    From related orgs
    $0
    Other
    $4,942
    Hours/week
    40

  • Bonnie D Wetter

    Board Chair

    Total calculated
    $0
    Hours/week
    0

  • James B Fisher

    Board Vice Chair

    Total calculated
    $0
    Hours/week
    0

  • David McCoy

    Board Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Mark Gliebe

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • John Wong

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Kathy Hendricks

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Bo DeLong

    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 are 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 organizations. 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. $478,516 was received in 2022

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303179349306960

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