Skip to content
Nonprofiteer
← REDMOND PARK HOSPITAL LLC

Form 990 for tax year 2024

Filed by REDMOND PARK HOSPITAL LLC.

Totals

Total revenue
$362,964,805
Total expenses
$410,845,377
Contributions and grants received
$1,863,999
Grants paid
$289,536
Program service revenue
$360,539,483
Investment income
$535,722
Other revenue
$25,601
Total assets, end of year
$541,132,113
Total liabilities, end of year
$138,551,645
Net assets or fund balances, end of year
$402,580,468
Program services expenses (Part IX)
$380,122,006
Management and general expenses
$30,723,371
Fundraising expenses
$0
Program service expenses (Part III)
$380,122,006

Program services were 92.5% 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.

  • 1e · Government grants (contributions)

    $1,863,058

  • 1f · All other contributions, gifts and grants

    $941

  • 2a · Program service revenue: Net Patient Revenue

    total $359,391,638 · related or exempt $359,343,053 · unrelated business $48,585

  • 2b · Program service revenue: Cafeteria Revenue

    total $832,453 · related or exempt $832,453

  • 2c · Program service revenue: Rent from Exempt Affiliates

    total $215,578 · related or exempt $215,578

  • 2f · All other program service revenue

    total $99,814 · related or exempt $99,814

  • 3 · Investment income

    total $406,448 · excluded $406,448

  • 6a · Gross rents

    real property $25,601

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $25,601

  • 6d · Net rental income or loss

    total $25,601 · excluded $25,601

  • 7a · Gross sales of assets other than inventory

    securities $129,274

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

    securities $0

  • 7c · Gain or loss

    securities $129,274

  • 7d · Net gain or loss

    total $129,274 · excluded $129,274

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $289,536 · program services $289,536

  • 5 · Compensation of officers, directors and key employees

    total $3,088,772 · management and general $3,088,772

  • 11b · Fees: legal

    total $186,037 · management and general $186,037

  • 11c · Fees: accounting

    total $110,042 · management and general $110,042

  • 11f · Fees: investment management

    total $28,733 · management and general $28,733

  • 11g · Fees: other

    total $49,866,011 · program services $31,812,640 · management and general $18,053,371

  • 12 · Advertising and promotion

    total $2,579,497 · management and general $2,579,497

  • 13 · Office expenses

    total $5,393,401 · program services $3,668,819 · management and general $1,724,582

  • 14 · Information technology

    total $12,750,260 · program services $11,659,107 · management and general $1,091,153

  • 16 · Occupancy

    total $5,401,431 · program services $5,401,431

  • 17 · Travel

    total $374,464 · program services $48,131 · management and general $326,333

  • 19 · Conferences, conventions and meetings

    total $651,346 · management and general $651,346

  • 20 · Interest

    total $3,024,841 · program services $3,024,841

  • 22 · Depreciation, depletion and amortization

    total $63,912,886 · program services $63,912,886

  • 23 · Insurance

    total $3,213,223 · program services $2,850,723 · management and general $362,500

  • 24a · Other expenses: Leased Personnel

    total $168,282,829 · program services $167,623,371 · management and general $659,458

  • 24b · Other expenses: Medical Supplies

    total $71,154,056 · program services $71,154,056

  • 24c · Other expenses: State Assessment

    total $10,233,302 · program services $10,233,302

  • 24d · Other expenses: Repairs & Maintenance

    total $8,149,576 · program services $8,149,576

  • 24e · All other expenses

    total $2,155,134 · program services $293,587 · management and general $1,861,547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,600 · end of year $3,800

  • 2 · Savings and temporary cash investments

    beginning of year $326,573

  • 4 · Accounts receivable

    beginning of year $44,338,984 · end of year $45,040,090

  • 8 · Inventories for sale or use

    beginning of year $9,115,471 · end of year $9,695,792

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,970,235 · end of year $12,597,741

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

    $146,720,806

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

    $38,077,283

  • 10c · Land, buildings and equipment, net

    beginning of year $109,250,495 · end of year $108,643,523

  • 14 · Intangible assets

    beginning of year $405,143,136 · end of year $352,866,602

  • 15 · Other assets

    beginning of year $8,017,570 · end of year $12,284,565

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,604,836 · end of year $8,508,715

  • 25 · Other liabilities

    beginning of year $133,000,682 · end of year $130,042,930

  • 27 · Net assets without donor restrictions

    beginning of year $450,519,465 · end of year $402,539,387

  • 28 · Net assets with donor restrictions

    beginning of year $41,081 · end of year $41,081

Mission and programs · 2024

Mission

Adventist Health System Sunbelt Healthcare Corporation and all its subsidiary organizations were established by the Seventh-Day Adventist Church to bring a ministry of healing and health to the communities served. Our mission is to extend the healing ministry of Christ.The hospital and healthcare system whose parent is Adventist Health System Sunbelt Healthcare Corporation is known as AdventHealth. AdventHealth seeks to be widely respected as a consumer-focused organization that engages individuals in their health by delivering wholistic, best practice care across a connected, comprehensive continuum of services. With Christ as our example, AdventHealth cares for and nurtures people: our employees, our communities, our healthcare professionals, and those who trust us for care and healing.

Activities or mission (Part I)

The provision of medical care to the community through the operation of a 230 bed hospital.

  • Redmond Park Hospital, LLC operates a 230-bed general acute-care hospital in Rome, Georgia. In the current year, there were 11,935 inpatient admissions, 92,690 outpatient visits, and 61,144 patient days.

    Expenses $380,122,006 · Grants $289,536 · Revenue $360,490,898

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Banks David

    Director

    Total calculated
    $4,869,658
    From this org
    $0
    From related orgs
    $4,659,499
    Other
    $210,159
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,667,208 related
    Bonus
    $0 + $1,713,881 related
    Other
    $0 + $1,278,410 related
    Deferred
    $0 + $179,406 related
    Nontaxable benefits
    $0 + $30,753 related
    Filer's total
    $0 + $4,869,658 related

  • Banks Mary

    Director

    Total calculated
    $825
    From this org
    $825
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Freeman MD Dixon

    Director (Beg. 08/24)

    Total calculated
    $86,935
    From this org
    $86,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.8

  • Goldfaden MD Daniel

    Director

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Guyton Alan

    Dir/VP/Regional CFO/ Secretary

    Total calculated
    $866,876
    From this org
    $0
    From related orgs
    $745,561
    Other
    $121,315
    Hours/week
    15 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $441,895 related
    Bonus
    $0 + $207,592 related
    Other
    $0 + $96,074 related
    Deferred
    $0 + $87,707 related
    Nontaxable benefits
    $0 + $33,608 related
    Filer's total
    $0 + $866,876 related

  • Hart Curtis

    Director

    Total calculated
    $950
    From this org
    $950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • May MD Charles

    Director (End 09/24)

    Total calculated
    $0
    Hours/week
    0.1

  • McNiece Evie

    Director/Vice Chair

    Total calculated
    $950
    From this org
    $950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Moss MD ST

    Director (End 08/24)

    Total calculated
    $950
    From this org
    $950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2

  • Pittman MD John

    Director

    Total calculated
    $516,905
    From this org
    $0
    From related orgs
    $468,074
    Other
    $48,831
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $0 + $314,102 related
    Bonus
    $0 + $99,108 related
    Other
    $0 + $54,864 related
    Deferred
    $0 + $17,727 related
    Nontaxable benefits
    $0 + $31,104 related
    Filer's total
    $0 + $516,905 related

  • Randolph Karsten

    Director

    Total calculated
    $1,811,016
    From this org
    $0
    From related orgs
    $1,644,580
    Other
    $166,436
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $729,269 related
    Bonus
    $0 + $428,513 related
    Other
    $0 + $486,798 related
    Deferred
    $0 + $130,246 related
    Nontaxable benefits
    $0 + $36,190 related
    Filer's total
    $0 + $1,811,016 related

  • Rustad Gary

    Director

    Total calculated
    $7,132
    From this org
    $450
    From related orgs
    $6,682
    Other
    $0
    Hours/week
    0.3 + 1.5 related

  • Sendros Isaac

    Director/President/CEO

    Total calculated
    $697,840
    From this org
    $0
    From related orgs
    $577,661
    Other
    $120,179
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $430,608 related
    Bonus
    $0 + $121,558 related
    Other
    $0 + $25,495 related
    Deferred
    $0 + $86,985 related
    Nontaxable benefits
    $0 + $33,194 related
    Filer's total
    $0 + $697,840 related

  • Stanger MD Ryan

    Director (Beg. 08/24)

    Total calculated
    $450
    From this org
    $450
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • Stevenson Rick

    Director

    Total calculated
    $950
    From this org
    $950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Thompson Michael

    Dir/Chair/Regional CEO

    Total calculated
    $1,851,004
    From this org
    $0
    From related orgs
    $1,692,559
    Other
    $158,445
    Hours/week
    15 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $685,196 related
    Bonus
    $0 + $509,358 related
    Other
    $0 + $498,005 related
    Deferred
    $0 + $119,531 related
    Nontaxable benefits
    $0 + $38,914 related
    Filer's total
    $0 + $1,851,004 related

  • Ware John

    Director

    Total calculated
    $500
    From this org
    $500
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Ware MD J Michael

    Director

    Total calculated
    $889,323
    From this org
    $0
    From related orgs
    $871,069
    Other
    $18,254
    Hours/week
    40.3

    Schedule J breakdown matched by us

    Base
    $0 + $751,871 related
    Bonus
    $0 + $80,626 related
    Other
    $0 + $38,572 related
    Deferred
    $0 + $17,727 related
    Nontaxable benefits
    $0 + $527 related
    Filer's total
    $0 + $889,323 related

  • Wright III Cecil

    Director (Beg. 08/24)

    Total calculated
    $450
    From this org
    $450
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • Prusia Jeffrey

    CFO

    Total calculated
    $411,030
    From this org
    $0
    From related orgs
    $356,570
    Other
    $54,460
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $263,947 related
    Bonus
    $0 + $61,180 related
    Other
    $0 + $31,443 related
    Deferred
    $0 + $18,516 related
    Nontaxable benefits
    $0 + $35,944 related
    Filer's total
    $0 + $411,030 related

  • Carpenter Benjamin

    COO (Beg. 07/24)

    Total calculated
    $225,152
    From this org
    $0
    From related orgs
    $208,952
    Other
    $16,200
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $102,094 related
    Bonus
    $0
    Other
    $0 + $106,858 related
    Deferred
    $0 + $2,468 related
    Nontaxable benefits
    $0 + $13,732 related
    Filer's total
    $0 + $225,152 related

  • Jordon Amelia

    CNO

    Total calculated
    $520,187
    From this org
    $0
    From related orgs
    $431,312
    Other
    $88,875
    Hours/week
    15 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $299,007 related
    Bonus
    $0 + $81,598 related
    Other
    $0 + $50,707 related
    Deferred
    $0 + $68,944 related
    Nontaxable benefits
    $0 + $19,931 related
    Filer's total
    $0 + $520,187 related

  • Steely Karen

    COO (End 07/24)

    Total calculated
    $454,425
    From this org
    $0
    From related orgs
    $404,774
    Other
    $49,651
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $293,674 related
    Bonus
    $0 + $73,764 related
    Other
    $0 + $37,336 related
    Deferred
    $0 + $18,516 related
    Nontaxable benefits
    $0 + $31,135 related
    Filer's total
    $0 + $454,425 related

  • Tomey MD Dave

    CMO

    Total calculated
    $528,021
    From this org
    $0
    From related orgs
    $399,220
    Other
    $128,801
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $354,605 related
    Bonus
    $0
    Other
    $0 + $44,615 related
    Deferred
    $0 + $78,516 related
    Nontaxable benefits
    $0 + $50,285 related
    Filer's total
    $0 + $528,021 related

  • Murrill Michael

    Former Officer

    Total calculated
    $1,077,605
    From this org
    $0
    From related orgs
    $941,767
    Other
    $135,838
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $688,007 related
    Bonus
    $0 + $186,066 related
    Other
    $0 + $67,694 related
    Deferred
    $0 + $95,680 related
    Nontaxable benefits
    $0 + $40,158 related
    Filer's total
    $0 + $1,077,605 related

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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)

Part I, Line 1a
The filing organization is a part of the system of healthcare organizations known as AdventHealth. Members of the filing organization's executive management team that hold the position of Vice-President or above are compensated by and on the payroll of Adventist Health System Sunbelt Healthcare Corporation (AHSSHC), the parent organization of the healthcare system known as AdventHealth. AHSSHC is exempt from federal income tax under IRC Section 501(c)(3). The filing organization reimburses AHSSHC for the salary and benefit cost of those executives on the payroll of AHSSHC. At the direction of AHSSHC, and in accordance with the reserved powers in the filing organization's governing documents, the executive team listed on Part VII provides services to the filing organization. First-class or charter travel: Pursuant to the AdventHealth system-wide general policy regarding business travel, no reimbursement will be provided for any additional cost incurred with respect to first-class or charter air travel beyond the cost of a regular coach airfare. As a means of providing additional business travel reimbursement for those members of the AHSSHC senior executive management team that travel frequently on behalf of AdventHealth, a special annual travel allowance is provided for those executives. As AdventHealth operates 51 hospitals in 9 states, the senior leadership of AHSSHC travel extensively and often visit multiple hospital locations in different states as a part of a single business trip. The special travel allowance can provide reimbursements to the executive for such items as the purchase of air travel upgrade coupons or to cover the cost differential between coach and first-class travel. The special travel allowance benefit was originally authorized by and codified into a policy by the AHSSHC Board Compensation Committee (the Committee), an independent body of the AHSSHC Board of Directors, who also approves the annual cap on the amount of the allowance. The special travel allowance has an annual cap of $33,500 for Senior and System Executive Vice Presidents (generally 18 AdventHealth Executive Vice Presidents) and the Multi-State CFO, $20,000 for System Senior Vice Presidents, Regional CEO's and Division Chief Officers (generally 50-60 individual executives) and $7,500 for other executives whose role requires extensive travel (currently 4), as approved by the AdventHealth CEO. The AdventHealth System CEO does not have an annual cap. A Regional CEO for AdventHealth is a member of the Board of Directors of the filing organization. The Regional CEO is considered a common law employee of and is on the payroll of AHSSHC. While the special travel allowance benefit is an AHSSHC compensation policy and practice, the cost of providing this benefit is allocated to and either wholly or partially reimbursed by the filing organization. Accordingly, the filing organization has checked the box in Schedule J, Part I, line 1a for first-class or charter travel since it has wholly or partially paid for the cost of providing this benefit. Those executives who receive the special travel allowance are responsible for tracking the expenses reimbursable under the special travel allowance and must submit such expenses on their accountable plan expense report. Any taxable reimbursements made to executives under the special travel allowance arrangement are treated as taxable compensation to the executive. Travel for companions: AHSSHC has a Corporate Executive Policy that provides a benefit to allow for a traveling AHSSHC executive to have his or her spouse accompany the executive on certain business trips each year. Typically, reimbursement is only provided to certain executive leaders and is usually limited to one business trip per year beyond the annual AdventHealth President's Council business meeting and other meetings where the spouse is specifically invited. The AHSSHC Corporate Executive Spousal Travel Policy was originally approved and reviewed by the AHSSHC Board Compensation Committee, an independent body of the AHSSHC Board of Directors. All spousal travel costs reimbursed to the executive are considered taxable compensation to the executive. Tax Indemnification and gross-up payments: AdventHealth has a system-wide general policy addressing gross-up payments provided in connection with employer-provided benefits (other than relocation assistance provided to executives). Under the policy, certain taxable business-related reimbursements that are provided to any employee may be grossed up at a 25% rate upon approval by the filing organization's CEO and CFO. Additionally, employees at the Director level and above are eligible for gross-up payments on gifts received for board of director services. Discretionary spending account: Occasional discretionary spending amounts are periodically provided to eligible executives who attend annual business meetings such as the AdventHealth President's Council, CFO Conference or the CMO/CNO business meeting. Payments provided to each executive are considered taxable compensation to the executive. Housing allowance or residence for personal use: AHSSHC has a Corporate Executive Policy that addresses assistance to executives who have been relocated by the company during the year. Relocation assistance provided to executives may include relocation allowances to assist with duplicate housing expenses. Relocation assistance is administered per AHSSHC policy by an external relocation company. All taxable reimbursements made to executives in connection with relocation assistance are treated as wages to the executive and are subject to all payroll withholding and reporting requirements. Certain taxable reimbursements include a gross-up amount for federal and state income taxes. Health or social club dues or initiation fees: AHSSHC has a Corporate Executive Policy that addresses business development expenditures. Under this policy, to encourage executives to establish and cultivate strong working relationships with the medical community and other leaders in the community and industry, certain AdventHealth executives may be reimbursed for member dues and usage charges for a country club or other social club upon authorization. Club memberships must be approved by the AdventHealth President/CEO on an annual basis. Each AdventHealth executive who is approved for a club membership must submit an annual report describing how they used the membership to benefit their organization during the preceding year so that the AdventHealth President/CEO can determine if continuance of the club membership furthers the business interests of AdventHealth. In the current year, for this filing organization, three (3) executives listed in Part VII received reimbursement for club fees. While the club dues membership is an AHSSHC compensation policy and practice, the cost of providing this benefit is allocated to and reimbursed in whole or in part by the filing organization. Accordingly, the filing organization has checked the box in Schedule J, Part I, line 1a for health or social club dues since it has wholly or partially paid for the cost of providing this benefit.
Part I, Line 3
The individual who serves as the CEO of the filing organization is appointed and compensated by Adventist Health System Sunbelt Healthcare Corporation (AHSSHC). Compensation and benefits provided to this individual are determined pursuant to policies, procedures, and processes of AHSSHC that are designed to ensure compliance with the intermediate sanctions laws as set forth in IRC Section 4958. AHSSHC has taken steps to ensure that processes are in place to satisfy the rebuttable presumption of reasonableness standard as set forth in Treasury Regulation Section 53.4958-6 with respect to its active executive-level positions. The AHSSHC Board Compensation Committee (the Committee) serves as the governing body for all executive compensation matters. The Committee is composed of certain members of the Board of Directors (the Board) of AHSSHC. Voting members of the Committee include only individuals who serve on the Board as independent representatives, who hold no employment positions with AHSSHC and who do not have relationships with any of the individuals whose compensation is under their review that impacts their best independent judgment as fiduciaries of AHSSHC. The Committee's role is to review and approve all components of the executive compensation plan of AHSSHC. As an independent governing body with respect to executive compensation, it should be noted that the Committee will often confer in executive sessions on matters of compensation policy and policy changes. In such executive sessions, no members of management of AHSSHC are present, other than the Chief People Officer, who remains at the request of the Chairman/committee to provide assistance/information as needed. The Committee is advised by an independent third-party compensation advisor. This advisor prepares all the benchmark studies for the Committee. Compensation levels are benchmarked with a national peer group of other not-for-profit healthcare systems and hospitals of similar size and complexity to AdventHealth and each of its affiliated entities. The following principles guide the establishment of individual executive compensation: - The salary of the President/CEO of AdventHealth will not exceed the 50th percentile of comparable salaries paid by similarly situated organizations; and - Other executive salaries shall be established using market medians. The compensation philosophy, policies, and practices of AHSSHC are consistent with the organization's faith-based mission and conform to applicable laws, regulations, and business practices. As a faith-based organization sponsored by the Seventh-day Adventist Church (the Church), AHSSHC's philosophy and principles with respect to its executive compensation practices reflect the conservative approach of the Church's mission of service and were developed in counsel with the Church's leadership.
Part I, Line 4b
Schedule J, Part I, Line 4b: As discussed in Line 1a above, executives on the filing organization's management team that hold the position of Vice-President or above are compensated by and on the payroll of Adventist Health System Sunbelt Healthcare Corporation (AHSSHC), the parent organization of the healthcare system known as AdventHealth. In recognition of the contribution that each executive makes to the success of AdventHealth, AdventHealth provides supplemental executive retirement benefit plans to eligible executives. As the supplemental executive retirement benefit plans were updated in 2020 and certain individuals still participate as grand-fathered participants in certain plans, the narrative below discusses all plans in which there were any participants in 2024. The SERP III plan effectively replaces the prior SERP II plan, the Executive Flex Benefit Program Plan, and the Senior Executive Death Benefit Plan for qualified executives except for certain grandfathered executive employees. SERP III Plan: The SERP III plan provides eligible executives a percentage of their base pay, which is credited to a deferred compensation account. The plan also provides for compensation deferral and selection of life insurance coverage and long-term care insurance. To be eligible to participate in the SERP III plan, executives must be on the AHSSHC corporate payroll and be either a CEO of an AdventHealth entity, an AHSSHC Vice President (VP) or VP of an AdventHealth entity with a base salary of at least $345,000 in 2024 (adjusted annually by the same percentage as IRC Section 401(a)(17) limit increases), or other leader specifically approved by the AdventHealth President. Eligible executives do not include grandfathered executives, meaning those executives who would satisfy all the eligibility requirements of the SERP II plan prior to Dec 31, 2027, had the plan not been amended and restated as of Jan. 1, 2020. Contribution credits will be established and maintained by class year accounts for each participant using tiered contribution credit percentages of annual base compensation. Contribution credit percentages range between 15% and 19% of base compensation. Contribution credits will be made each quarter in 25% increments with reductions in contributions if the executive is also a grandfathered FLEX participant (see below). SERP III provides for a class year vesting and payment schedule (7 years for each class year) with respect to amounts accumulated in the executive's deferred compensation account. Upon attainment of a normal retirement age (age 62), or upon certain other circumstances as defined in the SERP III plan document, all deferred amounts are paid immediately to the participant. For any executives working beyond the normal retirement age, future employer contributions will be made quarterly from SERP III directly to the participant as a taxable cash bonus. SERP II Plan: The SERP II plan is a defined benefit, non-tax-qualified deferred compensation plan for certain executives who have provided lengthy service to AdventHealth and/or to other Seventh-day Adventist Church hospitals or health care institutions. Under the provisions of the SERP II plan, benefits are provided to qualifying executive participants on a pro-rata schedule beginning with 20 years of service as an employee of AdventHealth and/or another hospital or health care institution controlled by the Seventh-day Adventist Church and who satisfy certain other qualifying criteria. Eligible employees are restricted to those executives who, as of January 1, 2020, satisfied, or if employment continues, will satisfy the eligibility requirements of SERP II prior to December 31, 2027. This supplemental executive retirement plan (SERP II) was designed to provide eligible executives with the economic equivalent of an annual income beginning at normal retirement age equal to 60% of the average of the participant's three, five or seven highest years of base salary from AdventHealth active employment inclusive of income from all other Seventh-day Adventist Church healthcare employer-financed retirement income sources and investment income earned on those contributions through social security normal retirement age as defined in the plan. The number of years included in highest average compensation is determined by the individual's year of entry to SERP II and by the individual's year of entry to the AdventHealth Executive FLEX Benefit Program. FLEX Plan: The Flex Plan was originally designed to provide eligible executives an opportunity to select from among a variety of supplemental benefits, including a split dollar life insurance policy and long-term care insurance, to individually tailor a benefits program appropriate to each executive's needs. In 2020, the Flex Plan was amended to exclude employed executives who are hired or promoted after a certain date from being eligible to participate in the Flex Plan except for certain insurance coverage features of the plan. The Flex Plan provides eligible participants a pre-determined benefits allowance credit that is equal to a percentage of the executive's base pay from which the cost of mandatory and elective employee benefits is deducted. The benefits allowance credit percentage for any plan year shall not be greater than the maximum dollar amount or the percentage of compensation as determined by the AdventHealth Benefits Administration Committee. For grandfathered eligible employees, the annual pre-determined Flex allowance is contributed and any funds that remain after the cost of mandatory and elective benefits are subtracted are, at the employee's option, contributed to either an IRC 457(f) deferred compensation account or to an IRC 457(b) eligible deferred compensation plan. Upon attainment of age 65, all previous 457(f) deferred amounts are paid immediately to the participant and any future employer contributions are made quarterly from the Plan directly to the participant. The Plan provides for a class year vesting schedule (2 years for each class year) with respect to amounts accumulated in the executive's 457(f) deferred compensation account. Distributions could also be made from the executive's 457(f) deferred compensation account upon attainment of age 65 or upon an involuntary separation. The account will be forfeited by the executive upon a voluntary separation. With respect to grandfathered participants, the Flex Plan documents define eligible employees to include the Chief Executive Officers of AdventHealth entities and Vice Presidents of all AdventHealth entities whose base salary was at least equal to the Internal Revenue Code Section 401(a)(17) compensation limit each year.
Part I, Line 4b (Continued):
FLEX Plan FLEX Plan SERP II SERP III Contr. Distr.* Contr./Distr. Contr. Banks, David $ 160,890 $ 159,205 $ 981,042 $ 0 Thompson, Michael $ 124,015 $ 84,881 $ 314,383 $ 0 Randolph, Karsten $ 134,730 $ 112,847 $ 289,254 $ 0 Murrill, Michael $ 0 $ 0 $ 0 $ 77,164 Guyton, Alan $ 56,358 $ 54,087 $ 0 $ 12,833 Sendros, Issac $ 0 $ 0 $ 0 $ 68,469 Tomey, MD, Dave $ 0 $ 0 $ 0 $ 60,000 Jordon, Amelia $ 0 $ 0 $ 0 $ 50,428 * Including Investment Earnings

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
7 October 2025
IRS schema version
2024v5.2
Source object
202533179349311928

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.