Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $12,645,483

• 1e · Government grants (contributions)

  $750,000

• 2a · Program service revenue: Net Patient Services

  total $562,033,115 · related or exempt $562,033,115

• 2b · Program service revenue: Disproportionate Share Funding

  total $21,500,544 · related or exempt $21,500,544

• 2c · Program service revenue: Other Operating Revenue

  total $5,051,008 · related or exempt $3,829,175 · unrelated business $1,221,833

• 2d · Program service revenue: Food Services

  total $3,577,996 · related or exempt $2,029,690 · unrelated business $1,548,306

• 2e · Program service revenue: ARRA-HI-TECH

  total $1,134,327 · related or exempt $1,134,327

• 2f · All other program service revenue

  total $1,103,405 · related or exempt $1,103,405

• 3 · Investment income

  total $9,209,681 · unrelated business -$231,823 · excluded $9,441,504

• 6a · Gross rents

  real property $799,536

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $799,536

• 6d · Net rental income or loss

  total $799,536 · related or exempt $799,536

• 7a · Gross sales of assets other than inventory

  securities $78,920,120 · other assets $14,501

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

  securities $73,557,396 · other assets $11,892

• 7c · Gain or loss

  securities $5,362,724 · other assets $2,609

• 7d · Net gain or loss

  total $5,365,333 · excluded $5,365,333

• 10a · Gross sales of inventory

  $470,471

• 10b · Cost of goods sold

  $260,505

• 10c · Net income from sales of inventory

  total $209,966 · related or exempt $209,966

• 11a · Other revenue: Concord ACO

  total $99,000 · related or exempt $99,000

• 11e · Other revenue, total

  $99,000

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,592,809 · program services $3,849,272 · management and general $736,550 · fundraising $6,987

• 7 · Other salaries and wages

  total $286,356,524 · program services $239,998,543 · management and general $45,922,231 · fundraising $435,750

• 8 · Pension plan contributions

  total $10,892,032 · program services $9,128,556 · management and general $1,746,922 · fundraising $16,554

• 9 · Other employee benefits

  total $37,692,806 · program services $31,590,148 · management and general $6,045,373 · fundraising $57,285

• 10 · Payroll taxes

  total $13,800,396 · program services $11,566,041 · management and general $2,213,381 · fundraising $20,974

• 11a · Fees: management

  total $2,089,448 · management and general $2,089,448

• 11b · Fees: legal

  total $355,643 · management and general $355,643

• 11c · Fees: accounting

  total $319,783 · management and general $319,783

• 11d · Fees: lobbying

  total $48,000 · program services $48,000

• 11f · Fees: investment management

  total $826,272 · management and general $826,272

• 11g · Fees: other

  total $45,619,087 · program services $33,171,766 · management and general $12,447,321

• 12 · Advertising and promotion

  total $247,433 · program services $212,695 · management and general $34,433 · fundraising $305

• 13 · Office expenses

  total $5,446,163 · program services $4,681,558 · management and general $757,897 · fundraising $6,708

• 14 · Information technology

  total $1,909,881 · program services $1,641,746 · management and general $265,783 · fundraising $2,352

• 16 · Occupancy

  total $14,363,956 · program services $12,347,346 · management and general $1,998,918 · fundraising $17,692

• 17 · Travel

  total $829,972 · program services $713,449 · management and general $115,501 · fundraising $1,022

• 19 · Conferences, conventions and meetings

  total $1,609,270 · program services $1,383,339 · management and general $223,949 · fundraising $1,982

• 20 · Interest

  total $4,273,233 · program services $2,866,815 · management and general $1,361,437 · fundraising $44,981

• 22 · Depreciation, depletion and amortization

  total $21,842,892 · program services $14,654,771 · management and general $6,956,814 · fundraising $231,307

• 23 · Insurance

  total $4,555,992 · program services $3,916,359 · management and general $634,021 · fundraising $5,612

• 24a · Other expenses: Drugs/medical supplies

  total $89,191,826 · program services $76,669,851 · management and general $12,521,975

• 24b · Other expenses: NH MET

  total $25,257,052 · program services $25,257,052

• 24c · Other expenses: Provision for bad debts

  total $13,556,635 · program services $13,556,635

• 24d · Other expenses: Repairs/maintenance

  total $6,217,476 · program services $5,344,581 · management and general $865,237 · fundraising $7,658

• 24e · All other expenses

  total $3,980,038 · program services $3,361,560 · management and general $357,546 · fundraising $260,932

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $37,203,691 · end of year $73,114,907

• 2 · Savings and temporary cash investments

  beginning of year $15,322,173 · end of year $46,393,988

• 4 · Accounts receivable

  beginning of year $77,106,534 · end of year $66,000,334

• 8 · Inventories for sale or use

  beginning of year $4,665,520 · end of year $3,047,602

• 9 · Prepaid expenses and deferred charges

  beginning of year $9,792,866 · end of year $8,285,264

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

  $471,973,054

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

  $317,842,084

• 10c · Land, buildings and equipment, net

  beginning of year $165,609,396 · end of year $154,130,970

• 11 · Investments: publicly traded securities

  beginning of year $182,060,576 · end of year $212,415,062

• 12 · Investments: other securities

  beginning of year $179,430,716 · end of year $179,735,441

• 14 · Intangible assets

  end of year $33,853,425

• 15 · Other assets

  beginning of year $20,952,792 · end of year $42,542,645

• 17 · Accounts payable and accrued expenses

  beginning of year $90,307,820 · end of year $89,675,451

• 20 · Tax-exempt bond liabilities

  beginning of year $156,756,063 · end of year $151,668,672

• 25 · Other liabilities

  beginning of year $83,066,345 · end of year $129,768,975

• 27 · Net assets without donor restrictions

  beginning of year $362,014,036 · end of year $448,406,540

The filer's explanations (Part III)

Part I, Line 4b

Robert P. Steigmeyer, President & CEO, participated in a 457(f) plan with Concord Hospital, Inc. during the fiscal year covered by this tax return. Under the terms of the plan, amounts deferred and contributed to the plan are subject to a three-year vesting period. After satisfying this vesting period, 457(f) deferred amounts are to be included in Mr. Steigmeyer's taxable W-2 wages. The calendar year ending within the Hospital's current reporting period of September 30, 2023 (tax year 2022) includes amounts previously set aside as deferred under Mr. Steigmeyer's 457(f) plan more than three years ago, and have therefore become vested. Accordingly, Mr. Steigmeyer is now recognizing in his W-2 taxable wages vested 457(f) plan deferrals. For the period covered by this tax return, included within Mr. Steigmeyer's 2022 Form W-2 taxable wages are $174,774 of vested 457(f) deferrals, which represent amounts previously reported on Schedule J, Part II, Column C, as deferred compensation for the fiscal year ending September 30, 2019. In accordance with IRS instructions, this vested and taxable amount has been included in Schedule J, Part II, Column B(iii) and Column F. Beginning with the September 30, 2015 tax year, there have been contributions to Mr. Steigmeyer's 457(f) plan. Each contribution, plus earnings, will be reported in Mr. Steigmeyer's W-2 after a three-year vesting period. For the fiscal years ended September 30, 2021, 2022, and 2023, Mr. Steigmeyer received total plan contributions (including interest and investment credits) of $197,425, $221,218, and $231,021, respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amount included in Mr. Steigmeyer's deferred compensation amounts in this Schedule J, Part II, Column C, includes the $177,820 contribution to his 457(f) plan, plus $43,398 of earnings. During the year ending September 30, 2021, the Hospital established a Supplemental Executive Retirement Plan (SERP) for the Senior Vice Presidents of Concord Hospital. Under the terms of this SERP, the Hospital credits Senior Executives' accounts at the end of each fiscal year, and the credit shall vest and become payable on the third anniversary of the date such amounts are credited to the account, provided the Senior Executives remain continuously employed through the applicable vesting date. The three-year vesting period SERP amount will be included in taxable W-2 wages upon vesting and payment. For the fiscal years ended September 30, 2021, 2022, and 2023, total contributions to the SERP, including interest and investment earnings credits, for Scott Sloane were $26,462, $43,139, and $48,021, respectively; contributions for Matthew Gibb were $36,900, $53,536, and $59,576, respectively; and contributions for Mary Bakken were $0, $23,333, and $44,441, respectively. Due to the timing between the Hospital's fiscal year filing period and the calendar year period by which compensation and benefits information is reported on Form 990, Schedule J, the amount included in these individuals' deferred compensation amounts on this Schedule J, Part II, Column C, including contributions to their 457(f) plans and earnings, are as follows: - Scott Sloane: contributions, $41,088; interest credit, $2,051. - Matthew Gibb: contributions, $50,676; interest credit, $2,860. - Mary Bakken: contributions, $23,333; interest credit, $0. As none of the SERP contributions have yet satisfied the three-year vesting conditions as of the period covered by this tax return, none of the SERP contributions have yet been included in the W-2 wages for these Senior Executives.

Part I, Line 7

Incentive Pay: The primary purpose of the incentive pay is to recognize the quality of the performance of the CEO, CFO, COO, and CMO during the preceding fiscal year. The amount of the incentive pay bonus is based on performance relative to strategic goals and measurable objectives. When the executive's performance excels, the incentive pay should reflect the accomplishment and allow for the sum of base salary and incentive pay to reach as high as the 75th percentile of peer institutions.

Disregarded entities

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

• Concord Hospital ACO LLC

  Operation of an accountable care organization · NH · income $99,000 · assets $0

  Directly controlled by Concord Hospital Inc

Related partnerships

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

• Concord Imaging Center LLC

  Provide radiology services to community · NH

• Capital Orthopedic Surgery Center

  Provide medical care to community · NH

• Concord Endoscopy Center LLC

  Provide medical care to community · NH

• OSC Condo LLC

  Rental Property · NH

Related corporations and trusts

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

• Capital Region Health Services Corporation

  C · Medical services · NH · 100% owned · share of income $328,798 · share of assets $195,479

  Directly controlled by Concord Hospital

• Capital Region Primary Care Corporation

  C · Inactive · NH · 100% owned · controlled entity

  Directly controlled by Concord Hospital

• Lakes Region Medical Office Building

  C · Rental properties and condominiums · NH

• Hillside Medical Park Condo Association

  C · Rental properties and condominiums · NH

• CH Memorial West Condominium Association

  C · Rental properties and condominiums · NH · 100% owned · share of income $120,941 · share of assets $611,252

  Directly controlled by Concord Hospital