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Nonprofiteer
← COVENANT HEALTH INC

Form 990 for tax year 2023

Filed by COVENANT HEALTH INC.

Totals

Total revenue
$78,489,788
Total expenses
$74,210,597
Contributions and grants received
$201,361
Grants paid
$72,141
Program service revenue
$73,787,814
Investment income
$14,770
Other revenue
$4,485,843
Total assets, end of year
$364,146,367
Total liabilities, end of year
$256,471,167
Net assets or fund balances, end of year
$107,675,200
Program services expenses (Part IX)
$60,654,594
Management and general expenses
$13,556,003
Fundraising expenses
$0
Program service expenses (Part III)
$60,654,594

Program services were 81.7% 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.

  • 1d · Related organizations

    $2,340

  • 1f · All other contributions, gifts and grants

    $199,021

  • 2a · Program service revenue: Membership and other fees

    total $73,787,814 · related or exempt $73,787,814

  • 3 · Investment income

    total $58,042 · unrelated business $10,331 · excluded $47,711

  • 7a · Gross sales of assets other than inventory

    securities $90,450

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

    securities $133,722

  • 7c · Gain or loss

    securities -$43,272

  • 7d · Net gain or loss

    total -$43,272 · excluded -$43,272

  • 11a · Other revenue: Gain on debt extinguishment

    total $4,485,843 · excluded $4,485,843

  • 11e · Other revenue, total

    $4,485,843

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $72,141 · program services $72,141

  • 5 · Compensation of officers, directors and key employees

    total $3,874,279 · program services $3,548,013 · management and general $326,266

  • 7 · Other salaries and wages

    total $13,909,670 · program services $12,739,166 · management and general $1,170,504

  • 8 · Pension plan contributions

    total $280,541 · program services $256,689 · management and general $23,852

  • 9 · Other employee benefits

    total $178,469 · program services $163,295 · management and general $15,174

  • 10 · Payroll taxes

    total $1,265,915 · program services $1,159,388 · management and general $106,527

  • 11a · Fees: management

    total $225,621 · management and general $225,621

  • 11b · Fees: legal

    total $1,090,869 · management and general $1,090,869

  • 11c · Fees: accounting

    total $147,167 · management and general $147,167

  • 11d · Fees: lobbying

    total $96,000 · management and general $96,000

  • 11g · Fees: other

    total $20,190,096 · program services $15,122,603 · management and general $5,067,493

  • 12 · Advertising and promotion

    total $299,488 · program services $224,320 · management and general $75,168

  • 13 · Office expenses

    total $3,088,668 · program services $2,313,446 · management and general $775,222

  • 14 · Information technology

    total $16,181,287 · program services $12,119,961 · management and general $4,061,326

  • 16 · Occupancy

    total $435,306 · program services $326,049 · management and general $109,257

  • 17 · Travel

    total $267,378 · program services $200,269 · management and general $67,109

  • 20 · Interest

    total $3,312,498 · program services $3,312,498

  • 22 · Depreciation, depletion and amortization

    total $8,163,709 · program services $8,163,709

  • 23 · Insurance

    total $232,998 · program services $191,119 · management and general $41,879

  • 24a · Other expenses: Recruitment/relations

    total $871,098 · program services $714,529 · management and general $156,569

  • 24b · Other expenses: Dietary supplies

    total $27,399 · program services $27,399 · management and general $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,155,534 · end of year $2,625,221

  • 2 · Savings and temporary cash investments

    beginning of year $1,130,804 · end of year $1,131,834

  • 4 · Accounts receivable

    beginning of year $2,763,046 · end of year $2,477,778

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,540,340 · end of year $4,320,793

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

    $92,564,646

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

    $38,913,582

  • 10c · Land, buildings and equipment, net

    beginning of year $61,205,537 · end of year $53,651,064

  • 12 · Investments: other securities

    beginning of year $38,845,845 · end of year $41,783,751

  • 14 · Intangible assets

    beginning of year $248,673 · end of year $547,042

  • 15 · Other assets

    beginning of year $225,235,733 · end of year $257,608,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,552,946 · end of year $32,591,216

  • 19 · Deferred revenue

    beginning of year $4,167 · end of year $2,186,524

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $218,046,238

  • 23 · Secured mortgages and notes payable

    beginning of year $223,055,739 · end of year $0

  • 25 · Other liabilities

    beginning of year $346,280 · end of year $3,647,189

  • 27 · Net assets without donor restrictions

    beginning of year $6,979,401 · end of year $106,144,512

  • 28 · Net assets with donor restrictions

    beginning of year $98,186,979 · end of year $1,530,688

Mission and programs · 2023

Mission

Covenant Health is an innovative Catholic health organization committed to advancing the healing ministry of Jesus.

Activities or mission (Part I)

Covenant Health is a Catholic health care system sponsoring hospitals, nursing homes, assisted living residences, and other health and elder services throughout New England. The Organization is committed to the health of the individuals and communities it serves, and the Organization strives to offer a continuum of high quality care. Please see the Organization's website for the 2020 Covenant Health Corporate Report.

  • Sponsoring and operating a Catholic health care system consisting of hospitals, nursing homes, assisted living residences, and other health and elder services, as well as furthering the delivery of health and human services consistent with the teachings and law of the Roman Catholic Church.

    Expenses $60,654,594 · Grants $72,141 · Revenue $73,787,814

As filed on the 2023 return.

Listed in Part VII

  • Stephen Grubbs

    President & CEO

    Total calculated
    $841,706
    From this org
    $803,102
    From related orgs
    $0
    Other
    $38,604
    Hours/week
    40 + 6 related

    Schedule J breakdown matched by us

    Base
    $773,120
    Bonus
    $0
    Other
    $29,982
    Deferred
    $9,900
    Nontaxable benefits
    $28,704
    Filer's total
    $841,706

  • Lesley Adkinson E PhD RN

    Director

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Mark W Anthoine Sr

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Bruce Bonnell MD MPH

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Aisha Barlatier-Bonny

    Director (end 6/2023)

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Robert A Clark

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Kathy Connerton JD MBA

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Ralph Jenkins

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Catherine P Lovecchio PhD RN

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • William P Lucy

    Director (end 6/2023)

    Total calculated
    $0
    Hours/week
    2 + 1.5 related

  • Thomas Mortimer

    Director

    Total calculated
    $0
    Hours/week
    2 + 3 related

  • Cherie Noe MD

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Sr Catherine O'Connor

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Gino J Pazzaglini

    Director

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Louise Trottier

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • John Oliverio

    Chair

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Kenneth E Arnold

    Vice Chair

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Stephen Forney

    SVP and Chief Financial Officer

    Total calculated
    $533,459
    From this org
    $495,159
    From related orgs
    $0
    Other
    $38,300
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $488,988
    Bonus
    $0
    Other
    $6,171
    Deferred
    $3,114
    Nontaxable benefits
    $35,186
    Filer's total
    $533,459

  • Douglas Waite

    SVP and Chief Medical Officer

    Total calculated
    $537,681
    From this org
    $496,578
    From related orgs
    $0
    Other
    $41,103
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $487,137
    Bonus
    $0
    Other
    $9,441
    Deferred
    $4,859
    Nontaxable benefits
    $36,244
    Filer's total
    $537,681

  • John Newman

    SVP General Counsel

    Total calculated
    $498,363
    From this org
    $466,023
    From related orgs
    $0
    Other
    $32,340
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $457,248
    Bonus
    $0
    Other
    $8,775
    Deferred
    $9,900
    Nontaxable benefits
    $22,440
    Filer's total
    $498,363

  • John Emerson

    SVP Integrated Medical Group

    Total calculated
    $442,487
    From this org
    $410,808
    From related orgs
    $0
    Other
    $31,679
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $378,951
    Bonus
    $0
    Other
    $31,857
    Deferred
    $6,157
    Nontaxable benefits
    $25,522
    Filer's total
    $442,487

  • James Coffey

    CH SVP; President, CH Foundation

    Total calculated
    $322,990
    From this org
    $276,264
    From related orgs
    $0
    Other
    $46,726
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $272,843
    Bonus
    $0
    Other
    $3,421
    Deferred
    $8,194
    Nontaxable benefits
    $38,532
    Filer's total
    $322,990

  • Ivan Ip

    System VP & Chief Med Info Officer

    Total calculated
    $409,045
    From this org
    $366,705
    From related orgs
    $0
    Other
    $42,340
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $366,089
    Bonus
    $0
    Other
    $616
    Deferred
    $7,875
    Nontaxable benefits
    $34,465
    Filer's total
    $409,045

  • Steven Jorgensen

    SVP & President SMHS Lewiston

    Total calculated
    $795,404
    From this org
    $772,789
    From related orgs
    $0
    Other
    $22,615
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $435,730
    Bonus
    $0
    Other
    $337,059
    Deferred
    $9,900
    Nontaxable benefits
    $12,715
    Filer's total
    $795,404

  • John Jurczyk

    SVP & President SJH Nashua

    Total calculated
    $798,531
    From this org
    $760,347
    From related orgs
    $0
    Other
    $38,184
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $451,619
    Bonus
    $0
    Other
    $308,728
    Deferred
    $9,900
    Nontaxable benefits
    $28,284
    Filer's total
    $798,531

  • Mary Prybylo

    SVP & President SJH Bangor

    Total calculated
    $449,316
    From this org
    $408,701
    From related orgs
    $0
    Other
    $40,615
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $399,313
    Bonus
    $0
    Other
    $9,388
    Deferred
    $9,900
    Nontaxable benefits
    $30,715
    Filer's total
    $449,316

  • Richard Plamondon

    VP Finance/CFO SJH Nashua (end 6/23)

    Total calculated
    $349,160
    From this org
    $331,044
    From related orgs
    $0
    Other
    $18,116
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $170,058
    Bonus
    $0
    Other
    $160,986
    Deferred
    $5,210
    Nontaxable benefits
    $12,906
    Filer's total
    $349,160

  • Eric Hardy

    VP Finance Provider Enterprise/PAC

    Total calculated
    $299,311
    From this org
    $269,720
    From related orgs
    $0
    Other
    $29,591
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,066
    Bonus
    $0
    Other
    $654
    Deferred
    $7,496
    Nontaxable benefits
    $22,095
    Filer's total
    $299,311

  • Karen Bowling

    Former SVP & CIO

    Total calculated
    $288,548
    From this org
    $279,507
    From related orgs
    $0
    Other
    $9,041
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $279,507
    Deferred
    $0
    Nontaxable benefits
    $9,041
    Filer's total
    $288,548

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 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 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 3
Every two-to-three years the Compensation Committee of the Covenant Health Board of Directors engages an external consultant to provide competitive market data from various survey sources, which is then used to develop recommendations for changes to the compensation program. Since 2003, the Compensation Committee has engaged a human resources consultant to conduct this analysis. Objectives of the analysis are to assess the compositeness of the total cash compensation levels of the senior leadership team, develop market based competitive salary ranges for all executive positions, and ensure that the annual incentive opportunities, if there are any, are competitive and reasonable.
Part I, Line 4a
Karen Bowling previously served as a Senior Vice President and Chief Information Officer for Covenant Health, Inc. During the period covered by this Form 990, Karen Bowling received severance payments of $279,356. Such payments have been included on the amounts reported on this Form 990, Part VII, and on this Form 990, Schedule J, Part II, Column B(iii). The $279,356 was also reported as taxable wages to Ms. Bowling on her 2023 Form W-2, Box 5.
Part I, Line 7
A Compensation Committee recommends the variable pay award that may be issued to qualifying employees and officers. The payment of the award is discretionary and is 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

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 corporations and trusts

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

  • Campus Holding

    C · Holding company · ME · controlled entity

  • Covenant Health Insurance LTD

    C · Self-insurance company · CJ · 100% owned · share of income $67,392,055 · share of assets $2,420,571 · controlled entity

    Directly controlled by Covenant Health Inc

  • GNM Corporation

    C · Real estate holding company · NH

  • SJ Physicians Services

    C · Physician practice · NH

  • St Joseph Corporate Services Inc

    C · Holding company · NH · controlled entity

  • Strauss Incorporated

    C · Repairs and transcriptions · ME · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202413129349304006

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