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Nonprofiteer
← MONADNOCK COMMUNITY HOSPITAL

Form 990 for tax year 2023

Filed by MONADNOCK COMMUNITY HOSPITAL.

Totals

Total revenue
$128,008,734
Total expenses
$122,252,408
Contributions and grants received
$829,431
Grants paid
$105,510
Program service revenue
$122,697,106
Investment income
$4,431,300
Other revenue
$50,897
Total assets, end of year
$203,243,687
Total liabilities, end of year
$57,037,087
Net assets or fund balances, end of year
$146,206,600
Program services expenses (Part IX)
$108,962,532
Management and general expenses
$12,617,348
Fundraising expenses
$672,528
Program service expenses (Part III)
$108,962,532

Program services were 89.1% 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.

  • 1c · Fundraising events

    $39,265

  • 1f · All other contributions, gifts and grants

    $790,166

  • 1g · Noncash contributions included above

    $16,982

  • 2a · Program service revenue: Net patient service revenue

    total $113,101,031 · related or exempt $113,101,031

  • 2b · Program service revenue: Disproportionate share funding

    total $4,790,808 · related or exempt $4,790,808

  • 2c · Program service revenue: Other operating revenue

    total $4,166,271 · related or exempt $4,166,271

  • 2d · Program service revenue: Cafeteria/vending machine

    total $362,893 · related or exempt $362,893

  • 2e · Program service revenue: Employee pharmacy sales

    total $276,103 · related or exempt $276,103

  • 3 · Investment income

    total $4,674,917 · excluded $4,674,917

  • 6a · Gross rents

    real property $118,826

  • 6b · Less rental expenses

    real property $67,152

  • 6c · Rental income or loss

    real property $51,674

  • 6d · Net rental income or loss

    total $51,674 · excluded $51,674

  • 7a · Gross sales of assets other than inventory

    securities $495,724

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

    securities $739,341

  • 7c · Gain or loss

    securities -$243,617

  • 7d · Net gain or loss

    total -$243,617 · excluded -$243,617

  • 8a · Fundraising events: gross income

    $25,640

  • 8a · Fundraising events: contributions included on line 1c

    $39,265

  • 8b · Fundraising events: direct expenses

    $27,889

  • 8c · Net income from fundraising events

    total -$2,249 · excluded -$2,249

  • 9a · Gaming: gross income

    $1,550

  • 9b · Gaming: direct expenses

    $78

  • 9c · Net income from gaming

    total $1,472 · excluded $1,472

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $41,693 · program services $41,693

  • 2 · Grants to domestic individuals

    total $63,817 · program services $63,817

  • 5 · Compensation of officers, directors and key employees

    total $1,293,986 · program services $493,009 · management and general $800,977

  • 7 · Other salaries and wages

    total $45,039,569 · program services $40,220,909 · management and general $4,497,419 · fundraising $321,241

  • 8 · Pension plan contributions

    total $543,340 · program services $504,268 · management and general $36,070 · fundraising $3,002

  • 9 · Other employee benefits

    total $7,955,249 · program services $7,039,800 · management and general $859,073 · fundraising $56,376

  • 10 · Payroll taxes

    total $2,785,064 · program services $2,468,279 · management and general $293,725 · fundraising $23,060

  • 11b · Fees: legal

    total $106,681 · management and general $106,681

  • 11c · Fees: accounting

    total $118,883 · management and general $118,883

  • 11d · Fees: lobbying

    total $18,073 · management and general $18,073

  • 11f · Fees: investment management

    total $262,097 · management and general $262,097

  • 11g · Fees: other

    total $9,014,583 · program services $8,116,259 · management and general $898,324

  • 12 · Advertising and promotion

    total $154,923 · program services $139,485 · management and general $15,438

  • 13 · Office expenses

    total $3,633,253 · program services $3,271,192 · management and general $335,128 · fundraising $26,933

  • 14 · Information technology

    total $1,398,373 · program services $1,259,022 · management and general $139,351

  • 16 · Occupancy

    total $3,001,464 · program services $2,702,361 · management and general $299,103

  • 17 · Travel

    total $65,636 · program services $59,095 · management and general $6,252 · fundraising $289

  • 19 · Conferences, conventions and meetings

    total $221,191 · program services $134,450 · management and general $22,042 · fundraising $64,699

  • 20 · Interest

    total $955,110 · management and general $955,110

  • 22 · Depreciation, depletion and amortization

    total $4,885,924 · program services $4,568,950 · management and general $316,974

  • 23 · Insurance

    total $1,287,614 · program services $1,134,623 · management and general $152,991

  • 24a · Other expenses: Med. supplies/services

    total $25,500,417 · program services $22,959,242 · management and general $2,390,803 · fundraising $150,372

  • 24b · Other expenses: Provision for bad debt

    total $7,623,534 · program services $7,623,534

  • 24c · Other expenses: NH medicaid enhancement

    total $5,118,534 · program services $5,118,534

  • 24d · Other expenses: Food/dietary supplies

    total $387,732 · program services $349,094 · management and general $38,638

  • 24e · All other expenses

    total $775,668 · program services $694,916 · management and general $54,196 · fundraising $26,556

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,682 · end of year $4,731

  • 2 · Savings and temporary cash investments

    beginning of year $30,354,114 · end of year $26,649,849

  • 4 · Accounts receivable

    beginning of year $9,105,689 · end of year $11,076,250

  • 7 · Other notes and loans receivable

    beginning of year $940,993 · end of year $861,377

  • 8 · Inventories for sale or use

    beginning of year $1,462,118 · end of year $1,557,225

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,290,843 · end of year $1,780,257

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

    $111,907,015

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

    $70,799,544

  • 10c · Land, buildings and equipment, net

    beginning of year $38,954,948 · end of year $41,107,471

  • 11 · Investments: publicly traded securities

    beginning of year $89,688,993 · end of year $113,120,776

  • 12 · Investments: other securities

    beginning of year $5,919,721 · end of year $6,791,711

  • 14 · Intangible assets

    beginning of year $289,509 · end of year $87,144

  • 15 · Other assets

    beginning of year $206,896 · end of year $206,896

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,912,425 · end of year $11,718,260

  • 19 · Deferred revenue

    beginning of year $10,945 · end of year $9,336

  • 20 · Tax-exempt bond liabilities

    beginning of year $21,265,883 · end of year $20,551,113

  • 23 · Secured mortgages and notes payable

    beginning of year $145,664 · end of year $24,520

  • 25 · Other liabilities

    beginning of year $27,474,158 · end of year $24,733,858

  • 27 · Net assets without donor restrictions

    beginning of year $104,705,702 · end of year $128,694,052

  • 28 · Net assets with donor restrictions

    beginning of year $14,700,729 · end of year $17,512,548

Mission and programs · 2023

Mission

Monadnock Community Hospital is committed to improving the health and well-being of our community. We will elevate the health of our community by providing accessible, high quality and value based care.

Activities or mission (Part I)

Critical access hospital serving the Monadnock region of the State of New Hampshire

  • The primary purpose of Monadnock Community Hospital (MCH) is to ensure access to quality health care for patients in our community, regardless of their ability to pay. The following is a summary of the services MCH provides in an effort to fulfill its mission, together with key program statistics for fiscal year 2024.Inpatient Services - Includes: adult stays, maternity/births, and swing bed nursing. During the fiscal year, the Hospital admitted 1,177 patients and recorded 3,325 patient days. Emergency Services - MCH offers health services 24 hours per day, 7 days per week. Responsible for the immediate treatment of any medical or surgical emergency; for initiating life saving procedures in all types of emergency situations; and for providing emergency and initial evaluations and treatment for other conditions including minor illnesses and injuries, and sub-acute medical problems. During the year, there were 13,400 visits to the ER. Physician Practices - Family health services, programs, and education are integral components of healthcare at MCH. Inpatient and outpatient primary care includes: medical, surgical, psychological and specialist services, provided by physicians and mid-level practitioners. These are located at the Hospital and its four satellite practices located in Antrim, Jaffrey, New Ipswich, and Rindge. During the year, 58,818 primary care office visits were recorded. Surgical Services - Includes same day and short-term inpatient surgery. MCH provides surgery in the areas of orthopaedics, general surgery, OB/GYN, ophthalmology, urology, ENT, and podiatry. In addition, the Hospital offers some non-surgical procedures including colonoscopies, gastroscopies, and pain management injections. During the fiscal year, 3,461 procedures were performed. Radiology and Diagnostics - MCH provides advanced radiological technology and extensive imaging services including: bone density, MRI, CT, nuclear medicine, ultrasound, mammography, and other diagnostic procedures, both inpatient and outpatient. During the fiscal year, 34,644 exams were performed. Rehabilitation Services - Additionally, MCH serves the people of the Monadnock Region through its medical rehabilitation and fitness services. MCH offers rehabilitation programs for cardiac and diabetic rehabilitation, along with pulmonary fitness, which feature educational and exercise components. We also provide physical and occupational therapy, as well as speech rehabilitation. During the fiscal year, 73,151 procedures were recorded for these services. Monadnock Community Hospital's Financial Grant Program provides assistance with hospital and/or physician bills for qualifying patients. In fiscal year 2024, the Organization recorded $891,000 in charges foregone based on established rates. The estimated cost incurred to provide these services was $ . In addition, Monadnock Community Hospital provided other services to the community at no cost or reduced cost, such as screenings and clinics. The cost of providing these services was approximately $17,260,000 in fiscal year 2024.

    Expenses $108,962,532 · Grants $105,510 · Revenue $122,697,106

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alexander J Walker Esq

    Ex-Officio (voting) (end 3/2024)

    Total calculated
    $1,068,695
    From this org
    $0
    From related orgs
    $717,524
    Other
    $351,171
    Hours/week
    3 + 43.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $649,284 related
    Bonus
    $0
    Other
    $0 + $68,240 related
    Deferred
    $0 + $270,586 related
    Nontaxable benefits
    $0 + $80,585 related
    Filer's total
    $0 + $1,068,695 related

  • Terrence McNamara DO

    Trustee/Physician

    Total calculated
    $493,009
    From this org
    $455,080
    From related orgs
    $0
    Other
    $37,929
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $436,058
    Bonus
    $18,572
    Other
    $450
    Deferred
    $6,600
    Nontaxable benefits
    $31,329
    Filer's total
    $493,009

  • Cynthia McGuire

    Chief Executive Officer

    Total calculated
    $487,327
    From this org
    $435,263
    From related orgs
    $0
    Other
    $52,064
    Hours/week
    55 + 0.6 related

    Schedule J breakdown matched by us

    Base
    $343,108
    Bonus
    $69,719
    Other
    $22,436
    Deferred
    $24,100
    Nontaxable benefits
    $27,964
    Filer's total
    $487,327

  • Peter Cerroni DMD

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Casandra Clark

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Jeffrey R Crocker Esq

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Carolyn Garretson

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Steve Kim

    Trustee (start 1/2024)

    Total calculated
    $0
    Hours/week
    3

  • Eric Lasky MD

    Ex-Officio (voting)

    Total calculated
    $0
    Hours/week
    3

  • Leslie Lewis

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • Stephen Lehmkuhl DO

    Ex-Officio (voting)

    Total calculated
    $0
    Hours/week
    3

  • Ed Madigan

    Trustee (start 1/2024)

    Total calculated
    $0
    Hours/week
    3

  • Greg Neilley MD

    Trustee (start 1/2024)

    Total calculated
    $0
    Hours/week
    3

  • Michael Shea

    Trustee (end 1/2024)

    Total calculated
    $0
    Hours/week
    3

  • Iris Waitt

    Trustee

    Total calculated
    $0
    Hours/week
    3

  • James Callahan Esq

    Chair (end 1/2024); Trustee

    Total calculated
    $0
    Hours/week
    3

  • Paul Faber

    VC (end 1/24); Chair (start 1/24)

    Total calculated
    $0
    Hours/week
    3

  • Paula Hunter

    Trustee; Vice Chair (start 1/2024)

    Total calculated
    $0
    Hours/week
    3

  • Thomas S Bates CPA

    Treasurer

    Total calculated
    $0
    Hours/week
    3

  • Patricia Shuster

    Clerk

    Total calculated
    $0
    Hours/week
    3

  • Richard D Scheinblum

    VP Finance/CFO

    Total calculated
    $313,650
    From this org
    $287,766
    From related orgs
    $0
    Other
    $25,884
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $263,630
    Bonus
    $23,446
    Other
    $690
    Deferred
    $5,396
    Nontaxable benefits
    $20,488
    Filer's total
    $313,650

  • Vache Hambardzumyan MD

    Physician

    Total calculated
    $625,597
    From this org
    $596,287
    From related orgs
    $0
    Other
    $29,310
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $594,337
    Bonus
    $1,000
    Other
    $950
    Deferred
    $0
    Nontaxable benefits
    $29,310
    Filer's total
    $625,597

  • Derek Anderson MD

    Physician

    Total calculated
    $476,054
    From this org
    $436,575
    From related orgs
    $0
    Other
    $39,479
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $434,625
    Bonus
    $1,000
    Other
    $950
    Deferred
    $6,600
    Nontaxable benefits
    $32,879
    Filer's total
    $476,054

  • Daniel Perli MD

    Physician/Chief Medical Officer

    Total calculated
    $460,955
    From this org
    $442,753
    From related orgs
    $0
    Other
    $18,202
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $440,953
    Bonus
    $1,000
    Other
    $800
    Deferred
    $6,558
    Nontaxable benefits
    $11,644
    Filer's total
    $460,955

  • Shawn Harrington MD

    Physician

    Total calculated
    $438,336
    From this org
    $401,907
    From related orgs
    $0
    Other
    $36,429
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $399,717
    Bonus
    $1,000
    Other
    $1,190
    Deferred
    $6,600
    Nontaxable benefits
    $29,829
    Filer's total
    $438,336

  • Dmitry Tarasevich MD

    Physician

    Total calculated
    $414,627
    From this org
    $396,554
    From related orgs
    $0
    Other
    $18,073
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $395,104
    Bonus
    $1,000
    Other
    $450
    Deferred
    $6,600
    Nontaxable benefits
    $11,473
    Filer's total
    $414,627

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
Schedule J, Page 1, Line 4b, supplemental non-qualified retirement plans: Cynthia McGuire, President & CEO, participates in a 457(f) plan with Monadnock Community Hospital. After a three year vesting period, amounts previously contributed to her by Monadnock Community Hospital are reported as part of her W-2 wages. In calendar year 2023, a total of $17,500 was deposited into Ms. McGuire's 457(f) plan account, which is included in the amount reported on Schedule J, Part II, Column C for this current fiscal year Form 990 filing. Additionally, $18,626 of compensation is reported in Column B(iii), which represents the vested 2020 contribution of $17,500 and earnings of $1,126. The $17,500 has also been reported on this Schedule J, Part II, Column F, as compensation deferred in a previous period which became taxable during this filing period (calendar year 2023 for purposes of income and benefit reporting). Alexander Walker, Jr. takes part in a section 457(f) forfeitable nonqualified deferred compensation plan administered by Catholic Medical Center. In calendar year 2023, Mr. Walker received contributions of $258,386 from Catholic Medical Center into his 457(f) Plan. Such contributions are included in the total deferred compensation reported for Mr. Walker on this Schedule J, Part II, Column C.
Part I, Line 7
MCH may from time-to-time compensate physicians utilizing quality and productivity targets based on WRVU (work relative value units). In addition, the Compensation Committee may recommend to the full board, annually, the variable pay award that may be issued to the Hospital's CEO. The payment of any such awards are discretionary and are subject to meeting the pre-determined goals of the Organization.

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

  • Town of Peterborough

    $15,000

    For the benefit of the Peterborough Ambulance

  • Contoocook Valley School District

    $8,693

    Support the Hope Squad Basic Program

  • Community Volunteer Transportation Company

    $8,000

    Support no-fee transportation to those in need in the Monadnock Region

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.

  • Alliance Urgent Services

    Health Care Services · NH

  • Bedford Ambulatory Surgical Center LLC

    Surgical Center · NH

  • NH Value Care ACO LLC

    Health Care Services · NH

Related corporations and trusts

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

  • Alliance Enterprises

    C · Real Estate · NH

Provenance

Return type
form_990
Tax year
2023
Filed
11 August 2025
IRS schema version
2023v6.0
Source object
202532259349303103

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