Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENTAL INCOME

  total $4,540,243 · related or exempt $4,540,243

• 3 · Investment income

  total $20,324 · excluded $20,324

• 6a · Gross rents

  real property $132,909

• 6b · Less rental expenses

  real property $160,126

• 6c · Rental income or loss

  real property -$27,217

• 6d · Net rental income or loss

  total -$27,217 · unrelated business -$10,682 · excluded -$16,535

• 7a · Gross sales of assets other than inventory

  other assets $403,715

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

  other assets $256,943

• 7c · Gain or loss

  other assets $146,772

• 7d · Net gain or loss

  total $146,772 · excluded $146,772

Functional expenses

Part IX, the statement of functional expenses.

• 11g · Fees: other

  total $952,975

• 13 · Office expenses

  total $131,219

• 16 · Occupancy

  total $964,495

• 20 · Interest

  total $20,100

• 22 · Depreciation, depletion and amortization

  total $3,770,959

Balance sheet

Part X, book values.

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

  $108,670,511

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

  $50,326,947

• 10c · Land, buildings and equipment, net

  beginning of year $51,904,648 · end of year $58,343,564

• 11 · Investments: publicly traded securities

  beginning of year $794,365 · end of year $773,076

• 17 · Accounts payable and accrued expenses

  beginning of year $2,031,949 · end of year $1,034,058

• 25 · Other liabilities

  beginning of year $938,986 · end of year $953,070

• 27 · Net assets without donor restrictions

  beginning of year $49,728,078 · end of year $57,129,512

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: $148,874 KARA PLUMMER: $54,671 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: JOSEPH HERRMANN: $12,084 ELIE SAAB: $6,840 JEREMIAH MARTIN: $6,232 THE AMOUNT LISTED ABOVE IS INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN C. NONE OF THE INDIVIDUALS LISTED ON FORM 990, PART VII RECEIVED A VESTED CERP PAYMENT DURING THE 2022 CALENDAR YEAR. 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.