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Nonprofiteer
← TWIN RIVERS MEDICAL PC

Form 990 for tax year 2024

Filed by TWIN RIVERS MEDICAL PC.

Totals

Total revenue
$2,989,462
Total expenses
$4,951,696
Contributions and grants received
$510
Grants paid
$0
Program service revenue
$2,988,939
Investment income
$13
Other revenue
$0
Total assets, end of year
$609,886
Total liabilities, end of year
$5,403,768
Net assets or fund balances, end of year
-$4,793,882
Program services expenses (Part IX)
$4,951,696
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$4,951,696

Program services were 100.0% 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.

  • 1f · All other contributions, gifts and grants

    $510

  • 2a · Program service revenue: NET PATIENT SERVICE RE

    total $2,988,939 · related or exempt $2,988,939

  • 3 · Investment income

    total $13 · excluded $13

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $3,766 · program services $3,766

  • 11g · Fees: other

    total $4,241,127 · program services $4,241,127

  • 13 · Office expenses

    total $39,435 · program services $39,435

  • 14 · Information technology

    total $60,431 · program services $60,431

  • 16 · Occupancy

    total $286,781 · program services $286,781

  • 22 · Depreciation, depletion and amortization

    total $20,416 · program services $20,416

  • 23 · Insurance

    total $49,075 · program services $49,075

  • 24a · Other expenses: MEDICAL SUPPLIES & DRUG

    total $201,182 · program services $201,182

  • 24b · Other expenses: NONMEDICAL SUPPLIES AND

    total $47,352 · program services $47,352

  • 24c · Other expenses: LICENSES, DUES, SUB

    total $2,131 · program services $2,131

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,078 · end of year $47,997

  • 2 · Savings and temporary cash investments

    beginning of year $28,872 · end of year $69,525

  • 4 · Accounts receivable

    beginning of year $186,907 · end of year $417,465

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,721 · end of year $0

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

    $105,530

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

    $31,141

  • 10c · Land, buildings and equipment, net

    beginning of year $232,661 · end of year $74,389

  • 15 · Other assets

    beginning of year $0 · end of year $510

  • 17 · Accounts payable and accrued expenses

    beginning of year $478 · end of year $632

  • 19 · Deferred revenue

    beginning of year $20,000 · end of year $12,500

  • 25 · Other liabilities

    beginning of year $3,308,409 · end of year $5,390,636

  • 27 · Net assets without donor restrictions

    beginning of year -$2,831,648 · end of year -$4,793,882

Mission and programs · 2024

Mission

TWIN RIVERS MEDICAL PC IS A FAMILY MEDICAL PRACTICE OFFERING PRIMARY CARE TO CHILDREN, ADOLESCENTS AND ADULTS FOR THE GREATER HOOSICK FALLS AND CAMBRIDGE COMMUNITIES. TWIN RIVERS MEDICAL PC OFFERS A FULL SPECTRUM OF HEALTH CARE INCLUDING PEDIATRICS, ADOLESCENT, AND ADULT MEDICINE.

Activities or mission (Part I)

TWIN RIVERS MEDICAL PC OPERATES A PRIMARY CARE PHYSICIAN PRACTICE OFFERING PRIMARY CARE TO CHILDREN, ADOLESCENTS AND ADULTS.

  • TWIN RIVERS MEDICAL, P.C. IS A FAMILY MEDICINE PRACTICE OFFERING PRIMARY CARE TO CHILDREN, ADOLOSCENTS, AND ADULTS FOR THE GREATER HOOSICK FALLS AND CAMBRIDGE COMMUNITIES. THE PRACTICE WAS FORMED THROUGH THE MERGER OF MARTINEZ FAMILY PRACTICE AND VILLAGE PRIMARY CARE. TWIN RIVERS MEDICAL PC OFFERS A FULL SPECTRUM OF HEALTH CARE INCLUDING PEDIATRICS, ADOLESCENT AND ADULT MEDICINE.

    Expenses $4,951,696 · Revenue $2,988,939

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carl Dobson

    PRESIDENT

    Total calculated
    $515,407
    From this org
    $0
    From related orgs
    $470,244
    Other
    $45,163
    Hours/week
    1 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $427,225 related
    Bonus
    $0 + $19,403 related
    Other
    $0 + $23,616 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $27,913 related
    Filer's total
    $0 + $515,407 related

  • Robert Laba

    CFO/TREASURER

    Total calculated
    $385,459
    From this org
    $0
    From related orgs
    $381,669
    Other
    $3,790
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $322,700 related
    Bonus
    $0
    Other
    $0 + $58,969 related
    Deferred
    $0 + $3,564 related
    Nontaxable benefits
    $0 + $226 related
    Filer's total
    $0 + $385,459 related

  • Stephen D Majetich

    FORMER OFFICER

    Total calculated
    $273,605
    From this org
    $0
    From related orgs
    $273,404
    Other
    $201
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $47,250 related
    Other
    $0 + $226,154 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $201 related
    Filer's total
    $0 + $273,605 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
TOP MANAGEMENT OFFICIAL COMPENSATION DETERMINATION: SOUTHWESTERN VERMONT MEDICAL CENTER, A RELATED ORGANIZATION, USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE CEO: INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.

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

No itemized grants to organizations 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.

  • SOUTHWESTERN VT HEALTHCARE ENTERPRISES

    C · VT

Provenance

Return type
form_990
Tax year
2024
Filed
30 July 2026
IRS schema version
2024v5.5
Source object
202642159349300534

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