Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $9,102

• 1f · All other contributions, gifts and grants

  $24,165

• 2a · Program service revenue: Net Patient Service Revenue

  total $63,879,005 · related or exempt $63,879,005

• 2b · Program service revenue: Other Operating Revenue

  total $186,486 · related or exempt $186,486

• 2c · Program service revenue: Home Office Management Fee

  total $98,251,274 · related or exempt $98,251,274

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,856,060 · excluded $3,856,060

• 6a · Gross rents

  real property $36,844,078

• 6c · Rental income or loss

  real property $36,844,078 · personal property $0

• 6d · Net rental income or loss

  total $36,844,078 · excluded $36,844,078

• 7a · Gross sales of assets other than inventory

  other assets $237,097

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

  securities $43,365

• 7c · Gain or loss

  securities -$43,365 · other assets $237,097

• 7d · Net gain or loss

  total $193,732 · excluded $193,732

• 11a · Other revenue: Gain on Related Investment

  total $6,291,838 · related or exempt $6,291,838

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $6,291,838

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $208,998 · program services $208,998

• 2 · Grants to domestic individuals

  total $35,180 · program services $35,180

• 5 · Compensation of officers, directors and key employees

  total $2,239,122 · management and general $2,239,122

• 7 · Other salaries and wages

  total $118,022,102 · program services $102,535,461 · management and general $15,449,852 · fundraising $36,789

• 8 · Pension plan contributions

  total $3,102,176 · program services $2,911,910 · management and general $190,266

• 9 · Other employee benefits

  total $10,824,952 · program services $7,417,592 · management and general $3,406,876 · fundraising $484

• 10 · Payroll taxes

  total $6,038,486 · program services $5,208,160 · management and general $827,535 · fundraising $2,791

• 11a · Fees: management

  total $21,512,760 · program services $4,445,706 · management and general $17,067,054

• 11b · Fees: legal

  total $4,924,600 · management and general $4,924,600

• 11c · Fees: accounting

  total $150,321 · management and general $150,321

• 11d · Fees: lobbying

  total $264,000 · management and general $264,000

• 11g · Fees: other

  total $34,231,696 · program services $3,968,704 · management and general $30,259,690 · fundraising $3,302

• 12 · Advertising and promotion

  total $1,255,267 · program services $1,222 · management and general $1,254,045

• 13 · Office expenses

  total $16,960,585 · program services $5,591,828 · management and general $11,364,122 · fundraising $4,635

• 16 · Occupancy

  total $11,110,725 · program services $1,694,725 · management and general $9,416,000

• 17 · Travel

  total $689,863 · program services $460,285 · management and general $229,578

• 20 · Interest

  total $5,034,565 · program services $5,034,565

• 22 · Depreciation, depletion and amortization

  total $14,916,282 · program services $3,002,294 · management and general $11,913,988

• 23 · Insurance

  total $3,224,637 · program services $119,273 · management and general $3,105,364

• 24a · Other expenses: Medical Supplies

  total $7,477,480 · program services $7,459,910 · management and general $17,570

• 24b · Other expenses: Bad Debt Expense

  total $4,108,493 · program services $4,108,493

• 24c · Other expenses: Miscellaneous Expense

  total $1,238,908 · program services $27,645 · management and general $1,211,263

• 24d · Other expenses: Recruitment

  total $343,161 · program services $39,609 · management and general $303,552

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $30,568,823 · end of year $13,750,111

• 4 · Accounts receivable

  beginning of year $10,322,323 · end of year $7,963,919

• 5 · Loans and receivables from officers and key people

  end of year $3,479,388

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $44,888 · end of year $1,546,758

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,230,335 · end of year $7,013,623

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

  $669,240,342

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

  $294,982,605

• 10c · Land, buildings and equipment, net

  beginning of year $8,265,559 · end of year $374,257,737

• 11 · Investments: publicly traded securities

  end of year $174,893,588

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $22,200,090 · end of year $21,270,368

• 14 · Intangible assets

  beginning of year $1,557,801 · end of year $1,557,801

• 15 · Other assets

  beginning of year $33,212,127 · end of year $8,631,960

• 17 · Accounts payable and accrued expenses

  beginning of year $20,220,322 · end of year $68,226,166

• 20 · Tax-exempt bond liabilities

  end of year $199,372,736

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $2,017,563 · end of year $235,257,447

• 27 · Net assets without donor restrictions

  beginning of year $85,164,061 · end of year $111,446,553

• 28 · Net assets with donor restrictions

  end of year $62,351

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

All ELC members (Bruce Bailey, Gayle Resetar, Beth Ward, Philip Dulberger, & Gerald Harmon) were enrolled in a supplemental executive retirement plan beginning 10/1/2018. Bruce, Beth, Gayle & Phil are enrolled in a split dollar life insurance plan. Dr. Harmon receives a retention bonus each year (included in compensation). Jeremy Stephens has been enrolled in the supplemental executive retirement plan beginning with fiscal year 2024. The organization deposited funds into a life insurance policy on the participant's life. During life, and subject to the policy generating sufficient values, the participant can borrow from the policy. At death, the organization recovers its premiums plus interest plus additional key-person insurance proceeds.

Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization

INCENTIVE COMPENSATION PAID TO NON-PHYSICIAN LEADERSHIP/EXECUTIVES IS CONTINGENT UPON QUALITY INDICATORS, NET REVENUES, AND THE OVERALL PROFITABILITY OF THE ORGANIZATION. INCENTIVE COMPENSATION PAID TO PHYSICIANS AND PHYSICIAN LEADERSHIP IS BASED ON PRODUCTION AND QUALITY INDICATORS. PHYSICIAN INCENTIVE COMPENSATION DOES NOT INCLUDE INCOME RELATED METRICS. IF PREDETERMINED GOALS ARE MET, INCENTIVE COMPENSATION IS PAID IN ACCORDANCE WITH AN INCENTIVE COMPENSATION PROGRAM. SEE PART II, COLUMN (B)(II).

Schedule J, Part I, Line 5b Compensation contingent on revenues of a related organization

See the response to line 5a.

Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization

See the response to line 5A and 5B.

Schedule J, Part I, Line 6b Compensation contingent on net earnings of a related organization

See the response to line 5A and 5B.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Georgetown Physician Services LLC

  Healthcare · SC · income $56,284,235 · assets $14,445,368

  Directly controlled by Georgetown Hospital System

• GHS Transitional Care LLC

  Healthcare · SC · income $6,704,821 · assets $21,431,951

  Directly controlled by Georgetown Hospital System

• Tidelands Health Market Common LLC

  Healthcare · SC · income $3,543,346 · assets $1,964,529

  Directly controlled by Georgetown Hospital System

• Tidelands Health ASC LLC

  Healthcare · SC · income -$18,922 · assets $1,539,250

  Directly controlled by Georgetown Hospital System

Related partnerships

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

• Georgetown Radiation Therapy

  Related · Healthcare · SC · share of income $2,662,431 · share of assets $2,153,765

  Directly controlled by Georgetown Hospital System

• Tidelands and Medquest Joint

  Related · Imaging · SC · share of income $2,323,663 · share of assets $4,839,733 · general or managing partner

  Directly controlled by Georgetown Hospital System