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Nonprofiteer
← MOSES CONE PHYSICIAN SERVICES INC

Form 990 for tax year 2023

Filed by MOSES CONE PHYSICIAN SERVICES INC.

Totals

Total revenue
$89,396,163
Total expenses
$141,749,759
Contributions and grants received
$54,297
Grants paid
$0
Program service revenue
$88,072,293
Investment income
$259,093
Other revenue
$1,010,480
Total assets, end of year
$54,322,581
Total liabilities, end of year
$439,249,085
Net assets or fund balances, end of year
-$384,926,504
Program services expenses (Part IX)
$127,574,784
Management and general expenses
$14,174,975
Fundraising expenses
$0
Program service expenses (Part III)
$127,574,784

Program services were 90.0% 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

    $54,297

  • 2a · Program service revenue: PATIENT REVENUE

    total $82,501,170 · related or exempt $82,501,170

  • 2b · Program service revenue: SERVICES TO GOVERNMENT AGENCIES

    total $4,693,881 · related or exempt $4,693,881

  • 2c · Program service revenue: SERVICES TO PATIENTS

    total $450,224 · related or exempt $450,224

  • 2d · Program service revenue: SERVICES TO AFFILIATE ORGANIZATIONS

    total $401,218 · related or exempt $401,218

  • 2e · Program service revenue: ALL OTHER SERVICE REVENUE

    total $25,800 · related or exempt $25,800

  • 3 · Investment income

    total $1,268 · excluded $1,268

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $41,030

  • 6c · Rental income or loss

    real property $41,030 · personal property $0

  • 6d · Net rental income or loss

    total $41,030 · excluded $41,030

  • 7a · Gross sales of assets other than inventory

    other assets $257,825

  • 7c · Gain or loss

    other assets $257,825

  • 7d · Net gain or loss

    total $257,825 · excluded $257,825

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: ALL OTHER SERVICES

    total $913,489 · related or exempt $913,489

  • 11b · Other revenue: MEDICAL RECORDS DEPOSIT

    total $55,961 · related or exempt $55,961

  • 11e · Other revenue, total

    $969,450

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $866,674 · program services $780,007 · management and general $86,667

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $116,794,541 · program services $105,115,087 · management and general $11,679,454

  • 8 · Pension plan contributions

    total $4,453,342 · program services $4,008,008 · management and general $445,334

  • 9 · Other employee benefits

    total $11,366,587 · program services $10,229,928 · management and general $1,136,659

  • 10 · Payroll taxes

    total $6,014,909 · program services $5,413,418 · management and general $601,491

  • 11a · Fees: management

    total $2,180,238 · program services $1,962,214 · management and general $218,024

  • 11b · Fees: legal

    total $27,640 · program services $24,876 · management and general $2,764

  • 11c · Fees: accounting

    total $69,951 · program services $62,956 · management and general $6,995

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $428,311 · program services $385,480 · management and general $42,831

  • 12 · Advertising and promotion

    total $172,476 · program services $155,228 · management and general $17,248

  • 13 · Office expenses

    total $1,179,193 · program services $1,061,274 · management and general $117,919

  • 14 · Information technology

    total $603,473 · program services $543,126 · management and general $60,347

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $3,000,118 · program services $2,700,106 · management and general $300,012

  • 17 · Travel

    total $295,804 · program services $266,224 · management and general $29,580

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total -$24,496,906 · program services -$22,047,215 · management and general -$2,449,691

  • 22 · Depreciation, depletion and amortization

    total $1,845,339 · program services $1,660,805 · management and general $184,534

  • 23 · Insurance

    total $1,382,853 · program services $1,244,568 · management and general $138,285

  • 24a · Other expenses: MEDICAL SERVICES & SUPPLIES

    total $14,073,197 · program services $12,665,877 · management and general $1,407,320

  • 24b · Other expenses: UTILITIES AND REPAIRS

    total $640,026 · program services $576,024 · management and general $64,002

  • 24c · Other expenses: RECRUITMENT, RETENTION & EDU

    total $553,369 · program services $498,032 · management and general $55,337

  • 24d · Other expenses: TAXES & LICENSURE

    total $197,504 · program services $177,754 · management and general $19,750

  • 24e · All other expenses

    total $101,120 · program services $91,007 · management and general $10,113

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,300 · end of year $4,050

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $10,752,509 · end of year $9,976,867

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $84,353 · end of year $78,999

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $201,555

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

    $18,754,175

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

    $10,156,259

  • 10c · Land, buildings and equipment, net

    beginning of year $6,785,552 · end of year $8,597,916

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $2,335,355 · end of year $2,335,355

  • 15 · Other assets

    beginning of year $26,683,587 · end of year $33,127,839

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,307,519 · end of year $38,958,504

  • 18 · Grants payable

    beginning of year $59,452 · end of year $555,181

  • 19 · Deferred revenue

    beginning of year $580 · end of year $1,838

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $341,867,513 · end of year $399,733,562

  • 27 · Net assets without donor restrictions

    beginning of year -$332,719,509 · end of year -$384,984,116

  • 28 · Net assets with donor restrictions

    beginning of year $129,101 · end of year $57,612

Mission and programs · 2023

Mission

WE SERVE OUR COMMUNITIES BY PREVENTING ILLNESS, RESTORING HEALTH AND PROVIDING COMFORT THROUGH EXCEPTIONAL PEOPLE DELIVERING EXCEPTIONAL CARE.

Activities or mission (Part I)

WE SERVE OUR COMMUNITIES BY PREVENTING ILLNESS, RESTORING HEALTH, AND PROVIDING COMFORT THROUGH EXCEPTIONAL PEOPLE DELIVERING EXCEPTIONAL CARE.

  • PROVISION OF PHYSICIAN SERVICES. PHYSICIANS PROVIDED 483,941 OFFICE, HOSPITAL, AND TELEHEALTH VISITS THIS YEAR. OF THE TOTAL GROSS CHARGES BOOKED FOR THE YEAR, 65.96% WERE FOR MEDICARE OR MEDICAID PATIENTS, AND THE COMPANY PROVIDED $3,433,293 OF CHARITY CARE TO THE COMMUNITY.

    Expenses $127,574,784 · Revenue $89,041,743

As filed on the 2023 return.

Listed in Part VII

  • Cagle MD Mary Jo

    DIRECTOR

    Total calculated
    $1,678,281
    From this org
    $0
    From related orgs
    $1,587,536
    Other
    $90,745
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,224,308 related
    Bonus
    $0 + $190,602 related
    Other
    $0 + $172,626 related
    Deferred
    $0 + $61,636 related
    Nontaxable benefits
    $0 + $29,109 related
    Filer's total
    $0 + $1,678,281 related

  • Hendrickson MD Steven

    PHYSICIAN

    Total calculated
    $1,507,019
    From this org
    $1,424,812
    From related orgs
    $0
    Other
    $82,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,292,511
    Bonus
    $124,127
    Other
    $8,174
    Deferred
    $54,605
    Nontaxable benefits
    $27,602
    Filer's total
    $1,507,019

  • Bartle MD Bryan

    PHYSICIAN

    Total calculated
    $1,496,124
    From this org
    $1,414,317
    From related orgs
    $0
    Other
    $81,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,282,016
    Bonus
    $124,127
    Other
    $8,174
    Deferred
    $53,319
    Nontaxable benefits
    $28,488
    Filer's total
    $1,496,124

  • Lightfoot Harrell

    PHYSICIAN

    Total calculated
    $1,484,561
    From this org
    $1,405,708
    From related orgs
    $0
    Other
    $78,853
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,279,092
    Bonus
    $124,127
    Other
    $2,489
    Deferred
    $42,750
    Nontaxable benefits
    $36,103
    Filer's total
    $1,484,561

  • Dew MD Jason

    PHYSICIAN

    Total calculated
    $1,375,856
    From this org
    $1,299,276
    From related orgs
    $0
    Other
    $76,580
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $566,924
    Bonus
    $730,396
    Other
    $1,956
    Deferred
    $45,630
    Nontaxable benefits
    $30,950
    Filer's total
    $1,375,856

  • Kowalski MD David

    PHYSICIAN

    Total calculated
    $1,208,039
    From this org
    $1,159,681
    From related orgs
    $0
    Other
    $48,358
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,072,051
    Bonus
    $82,869
    Other
    $4,761
    Deferred
    $32,772
    Nontaxable benefits
    $15,586
    Filer's total
    $1,208,039

  • Priest MD Marlon

    DIRECTOR THRU 02/16/24

    Total calculated
    $984,905
    From this org
    $0
    From related orgs
    $902,565
    Other
    $82,340
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $752,756 related
    Bonus
    $0 + $5,587 related
    Other
    $0 + $144,222 related
    Deferred
    $0 + $72,761 related
    Nontaxable benefits
    $0 + $9,579 related
    Filer's total
    $0 + $984,905 related

  • Barrow Andrew

    DIRECTOR

    Total calculated
    $810,934
    From this org
    $0
    From related orgs
    $719,090
    Other
    $91,844
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $588,769 related
    Bonus
    $0 + $53,015 related
    Other
    $0 + $77,306 related
    Deferred
    $0 + $52,500 related
    Nontaxable benefits
    $0 + $39,344 related
    Filer's total
    $0 + $810,934 related

  • Portillo MD Martin

    DIRECTOR,PRES. THRU 02/29/24

    Total calculated
    $762,877
    From this org
    $719,407
    From related orgs
    $0
    Other
    $43,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $616,665
    Bonus
    $25,942
    Other
    $76,800
    Deferred
    $40,001
    Nontaxable benefits
    $3,469
    Filer's total
    $762,877

  • Cleveland Beverly

    CHIEF FINANCIAL OFFICER

    Total calculated
    $347,479
    From this org
    $308,970
    From related orgs
    $0
    Other
    $38,509
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,232
    Bonus
    $3,075
    Other
    $28,663
    Deferred
    $34,277
    Nontaxable benefits
    $4,232
    Filer's total
    $347,479

  • Brown Christopher

    VICE PRESIDENT

    Total calculated
    $341,654
    From this org
    $301,737
    From related orgs
    $0
    Other
    $39,917
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,283
    Bonus
    $25
    Other
    $23,429
    Deferred
    $24,864
    Nontaxable benefits
    $15,053
    Filer's total
    $341,654

  • Curran William

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0 + 40 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings

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
  • 6a · Pay contingent on this organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

EARNINGS CONTINGENT COMP
FORM 990, SCHEDULE J, PART I, LINE 5B OFFICERS ARE PAID BY MOSES H. CONE MEMORIAL HOSPITAL OPERATING CORPORATION, INC. AND PARTICIPATE IN THE MANAGEMENT INCENTIVE COMPENSATION PROGRAM. UNDER THIS PROGRAM, A PORTION OF THE SALARY OF THOSE AT A LEVEL OF DEPARTMENT DIRECTOR AND HIGHER IS SET ASIDE AND IS CONTINGENT UPON THE HEALTH SYSTEM'S PERFORMANCE ON SEVERAL MEASURES, INCLUDING REVENUES. NOTE: IF THESE MEASURES ARE NOT MET, THEIR COMPENSATION WILL BE BELOW THE MARKET LEVEL FOR THEIR JOB.
EARNINGS CONTINGENT COMP
FORM 990, SCHEDULE J, PART I, LINE 6 OFFICERS ARE PAID BY MOSES H. CONE MEMORIAL HOSPITAL OPERATING CORPORATION, INC. AND PARTICIPATE IN THE MANAGEMENT INCENTIVE COMPENSATION PROGRAM. UNDER THIS PROGRAM, A PORTION OF THE SALARY OF THOSE AT A LEVEL OF DEPARTMENT DIRECTOR AND HIGHER IS SET ASIDE AND IS CONTINGENT UPON THE HEALTH SYSTEM'S PERFORMANCE ON SEVERAL MEASURES, INCLUDING NET EARNINGS. NOTE: IF THESE MEASURES ARE NOT MET, THEIR COMPENSATION WILL BE BELOW THE MARKET LEVEL FOR THEIR JOB.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NSC GREENSBORO WEST LLC

    HEALTHCARE · AL

    Directly controlled by MC MED SVCS

  • CONE HEALTH VENTURES LLC

    INNOVATION · NC

    Directly controlled by WLCHS

  • HTA HOLDINGS LLC

    HOLDING COMPANY · NC

    Directly controlled by WLCHS

Related corporations and trusts

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

  • WESLEY LONG COMMUNITY HEALTH SERVICES

    C CORP · HEALTHCARE · NC

    Directly controlled by MC PARENT

  • PIEDMONT PRACTICE ASSOCIATES INC

    C CORP · HEALTHCARE · NC

    Directly controlled by WLCHS

  • CARE N' CARE INSURANCE COMPANY OF NORTH

    C CORP · INSURANCE · NC

    Directly controlled by HTA HOLDINGS

  • INSURANCE CASUALTY AND RISK ENTERPRISE

    C CORP · SELF INSURANCE · CJ

    Directly controlled by MC PARENT

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2025
IRS schema version
2023v6.0
Source object
202542269349301534

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