Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $18,076,962

• 2a · Program service revenue: PATIENT SERVICES

  total $60,267,239 · related or exempt $60,267,239

• 2b · Program service revenue: INCENTIVE PAYMENTS

  total $3,443,599 · related or exempt $3,443,599

• 2c · Program service revenue: OTHER PATIENT SERVICES

  total $274,994 · related or exempt $274,994

• 6a · Gross rents

  real property $33,257

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $33,257

• 6d · Net rental income or loss

  total $33,257 · related or exempt $33,257

• 11a · Other revenue: PATIENT CARE MANAGEMENT FEES

  total $353,575 · related or exempt $353,575

• 11b · Other revenue: REBATES

  total $25,466 · related or exempt $25,466

• 11d · All other revenue

  total $8,779 · related or exempt $8,779

• 11e · Other revenue, total

  $387,820

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $93,333 · program services $93,333

• 5 · Compensation of officers, directors and key employees

  total $852,564 · program services $852,564

• 7 · Other salaries and wages

  total $52,416,570 · program services $42,618,809 · management and general $9,797,761

• 8 · Pension plan contributions

  total $1,635,075 · program services $1,315,076 · management and general $319,999

• 9 · Other employee benefits

  total $5,228,549 · program services $4,257,700 · management and general $970,849

• 10 · Payroll taxes

  total $3,032,912 · program services $2,473,637 · management and general $559,275

• 11g · Fees: other

  total $2,000,519 · program services $802,103 · management and general $1,198,416

• 12 · Advertising and promotion

  total $22,358 · management and general $22,358

• 13 · Office expenses

  total $684,583 · program services $575,050 · management and general $109,533

• 14 · Information technology

  total $2,601,656 · program services $2,185,391 · management and general $416,265

• 16 · Occupancy

  total $3,869,420 · program services $3,250,313 · management and general $619,107

• 17 · Travel

  total $5,954 · program services $5,001 · management and general $953

• 19 · Conferences, conventions and meetings

  total $146,502 · program services $123,062 · management and general $23,440

• 22 · Depreciation, depletion and amortization

  total $442,117 · program services $371,378 · management and general $70,739

• 23 · Insurance

  total $2,295,473 · program services $2,295,473

• 24a · Other expenses: PURCHASED MEDICAL SVCS.

  total $3,188,978 · program services $3,188,978

• 24b · Other expenses: MEDICAL EXPENSES

  total $2,965,594 · program services $2,965,594

• 24c · Other expenses: BAD DEBT

  total $2,549,616 · program services $2,549,616

• 24d · Other expenses: MAINTENANCE & REPAIRS

  total $483,434 · program services $483,434

• 24e · All other expenses

  total $159,118 · program services $159,118

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,281 · end of year $1,347

• 2 · Savings and temporary cash investments

  beginning of year $374,552 · end of year $1,321,588

• 4 · Accounts receivable

  beginning of year $4,452,738 · end of year $6,232,642

• 8 · Inventories for sale or use

  beginning of year $334,003 · end of year $431,016

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,847,879 · end of year $4,932,443

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

  $7,040,429

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

  $5,607,432

• 10c · Land, buildings and equipment, net

  beginning of year $1,672,747 · end of year $1,432,997

• 15 · Other assets

  beginning of year $7,842,868 · end of year $19,364,043

• 17 · Accounts payable and accrued expenses

  beginning of year $6,388,186 · end of year $8,645,877

• 21 · Escrow or custodial account liability

  beginning of year $64,562 · end of year $82,858

• 25 · Other liabilities

  beginning of year $3,923,892 · end of year $18,837,913

• 27 · Net assets without donor restrictions

  beginning of year $6,149,428 · end of year $6,149,428

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF TOP MANAGEMENT OFFICIAL THE CEO/EXECUTIVE DIRECTOR IS COMPENSATED ENTIRELY THROUGH STURDY MEMORIAL HOSPITAL, INC. THE HOSPITAL USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANTS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE EXECUTIVE COMMITTEE TO ESTABLISH THE COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR.

PART I, LINE 4B

SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN STURDY MEMORIAL HOSPITAL PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN EXECUTIVES. CONTRIBUTIONS TO THE PLAN ARE SUBJECT TO CERTAIN VESTING REQUIREMENT. CONTRIBUTIONS UNDER THE PLAN SUBJECT TO VESTING ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). AMOUNTS VESTED AND RECEIVED UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III) AND BELOW. AMY PFEFFER: $92,358

PART I, LINE 7

NON-FIXED PAYMENTS COMPENSATION PACKAGES FOR THE CEO AND SENIOR MANAGEMENT INCLUDE OPPORTUNITIES TO EARN INCENTIVE COMPENSATION BASED ON A COMBINATION OF MEETING AND EXCEEDING PREDETERMINED GOALS. THE INCENTIVE COMPENSATION IS SUBJECT TO REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE AND HAS BEEN REPORTED ON SCHEDULE J, PART II, COLUMN B (II).

PART II, COLUMN C:

DEFERRED COMPENSATION THIS COLUMN INCLUDES AN ACCRUAL OF BENEFITS RELATED TO THE HOSPITAL'S DEFINED BENEFIT PLAN. THIS ACCRUAL CALCULATION IS COMPLETED BY A THIRD PARTY AND THE ACCRUAL AMOUNT MAY SHIFT DEPENDING ON THE REQUIRED DISCOUNT RATE APPLIED.