Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Patient care

  total $9,323,969 · related or exempt $9,323,969

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $380,497 · program services $366,104 · management and general $14,393

• 7 · Other salaries and wages

  total $6,170,789 · program services $5,998,544 · management and general $172,245

• 8 · Pension plan contributions

  total $22,992 · program services $22,992

• 9 · Other employee benefits

  total $563,642 · program services $449,141 · management and general $114,501

• 10 · Payroll taxes

  total $502,563 · program services $502,563

• 11a · Fees: management

  total $638,407 · management and general $638,407

• 11g · Fees: other

  total $768,525 · program services $558,186 · management and general $210,339

• 13 · Office expenses

  total $319,394 · program services $247,771 · management and general $71,623

• 16 · Occupancy

  total $494,999 · program services $494,999

• 22 · Depreciation, depletion and amortization

  total $4,966 · program services $4,966

• 23 · Insurance

  total $84,644 · program services $84,644

• 24a · Other expenses: Medical supplies

  total $239,213 · program services $239,213

• 24b · Other expenses: Provision for bad debts

  total $146,042 · program services $146,042

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $475,040 · end of year $349,838

• 4 · Accounts receivable

  beginning of year $3,628,679 · end of year $3,424,828

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

  $120,115

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

  $89,237

• 10c · Land, buildings and equipment, net

  beginning of year $21,308 · end of year $30,878

• 17 · Accounts payable and accrued expenses

  beginning of year $848,246 · end of year $1,153,403

• 25 · Other liabilities

  beginning of year $8,212,848 · end of year $7,745,912

• 27 · Net assets without donor restrictions

  beginning of year -$4,936,067 · end of year -$5,093,771

The filer's explanations (Part III)

Part I, Line 3

Garry M. Bombardier, MD, was compensated as an employee (Internist) of Holyoke Medical Center, Inc. He was also compensated as Director of Quality Assurance for Western Mass Physician Associates, Inc. This compensation was established pursuant to a written employment contract with the organization.

Part I, Line 4b

Holyoke Medical Center adopted a 457(f) non-qualified deferred compensation plan that became effective as of July 1, 2017. The Plan allows for eligible individuals and employees of the Medical Center to receive benefits under the Plan until the attainment of age 65. Non-elective contributions made for a Plan participant are tracked and will vest separately based on anniversaries of participants' employment. Each contribution will be 0% vested until the participant reaches the end of their second year of employment after each contribution. Each contribution will become 100% vested as of the last day of the 2nd year of a participant's employment, if the participant is still employed on that date. Only eligible employees are participants in the plan, and the plan does not allow for employee elective deferrals or employer matches. For the 2023 Tax Year, the following listed individuals received 457(f) contributions under the plan: - Spiros Hatiras, $51,847. - Carl Cameron, $29,705. - Marcel Moniz, $13,367. And, - Dean Vitarisi, $23,022.