Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CAPITATION REVENUE

  total $4,098,701,726 · related or exempt $4,098,701,726

• 3 · Investment income

  total $42,914,795 · excluded $42,914,795

• 7a · Gross sales of assets other than inventory

  securities $164,356,599

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

  securities $168,222,312

• 7c · Gain or loss

  securities -$3,865,713

• 7d · Net gain or loss

  total -$3,865,713 · excluded -$3,865,713

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $3,680,564,099 · program services $3,680,564,099

• 5 · Compensation of officers, directors and key employees

  total $5,440,115 · management and general $5,440,115

• 7 · Other salaries and wages

  total $113,802,778 · program services $108,992,650 · management and general $4,810,128

• 8 · Pension plan contributions

  total $2,647,312 · program services $2,535,125 · management and general $112,187

• 9 · Other employee benefits

  total $18,904,884 · program services $18,111,245 · management and general $793,639

• 10 · Payroll taxes

  total $7,861,308 · program services $7,528,164 · management and general $333,144

• 11a · Fees: management

  total $24,076,703 · program services $24,076,703

• 11b · Fees: legal

  total $213,663 · management and general $213,663

• 11c · Fees: accounting

  total $796,377 · management and general $796,377

• 11d · Fees: lobbying

  total $149,663 · program services $149,663

• 11f · Fees: investment management

  total $1,495,685 · management and general $1,495,685

• 11g · Fees: other

  total $80,301,238 · program services $80,233,087 · management and general $68,151

• 12 · Advertising and promotion

  total $9,681,868 · program services $9,636,450 · management and general $45,418

• 13 · Office expenses

  total $4,019,659 · program services $3,841,564 · management and general $178,095

• 14 · Information technology

  total $21,916,317 · program services $21,879,379 · management and general $36,938

• 16 · Occupancy

  total $3,073,098 · program services $2,942,867 · management and general $130,231

• 17 · Travel

  total $793,855 · program services $758,394 · management and general $35,461

• 19 · Conferences, conventions and meetings

  total $439,624 · management and general $439,624

• 22 · Depreciation, depletion and amortization

  total $4,160,279 · program services $3,983,976 · management and general $176,303

• 24a · Other expenses: MEDICAL CLAIMS ASSESSME

  total $11,560,855 · program services $11,560,855

• 24b · Other expenses: PREMIUM TAX - NH

  total $11,227,765 · program services $11,227,765

• 24c · Other expenses: DISTRIBUTION FEES

  total $8,922,301 · program services $8,922,301

• 24d · Other expenses: LAE EXPENSES

  total $4,069,685 · program services $4,069,685

• 24e · All other expenses

  total $1,606,014 · program services $1,587,565 · management and general $18,449

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $71,338,430

• 2 · Savings and temporary cash investments

  beginning of year $789,867,008 · end of year $1,208,539,389

• 4 · Accounts receivable

  beginning of year $73,131,563 · end of year $94,579,066

• 9 · Prepaid expenses and deferred charges

  beginning of year $16,498,780 · end of year $20,107,158

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

  $33,748,009

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

  $21,872,921

• 10c · Land, buildings and equipment, net

  beginning of year $11,261,133 · end of year $11,875,088

• 11 · Investments: publicly traded securities

  beginning of year $304,903,175 · end of year $323,306,591

• 15 · Other assets

  beginning of year $2,835,502 · end of year $2,802,021

• 17 · Accounts payable and accrued expenses

  beginning of year $474,128,915 · end of year $625,142,195

• 25 · Other liabilities

  beginning of year $252,203,446 · end of year $354,475,761

• 27 · Net assets without donor restrictions

  beginning of year $543,503,230 · end of year $681,591,357

The filer's explanations (Part III)

PART I, LINE 1A

WELLSENSE PROVIDED PRESIDENT THILTGEN WITH A HOUSING ALLOWANCE OF $60,000 WHICH IS REPORTED AS TAXABLE COMPENSATION ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 1B

THE PRESIDENT OF WELLSENSE WAS PROVIDED A HOUSING STIPEND UPON HIRE TO ALLOW FOR RENTAL OF A RESIDENCE NEAR THE WELLSENSE'S CORPORATE HEADQUARTERS UNTIL SHE COULD OFFICIALLY RELOCATE. WITH THE DECLARATION OF A NATIONAL HEALTH EMERGENCY DUE TO A NOVEL STRAIN OF CORONAVIRUS (COVID-19) AND THE PLAN MOVING TO A VIRTUAL WORK ENVIRONMENT, THE RELOCATION EFFORT CEASED AND IT WAS DECIDED TO CONTINUE THE HOUSING STIPEND TO ALLOW FOR TRAVEL AND HOUSING AS IT RELATES TO LOCAL MEETINGS WITH SYSTEM AND PLAN PERSONNEL. THIS PLAN WAS DEVELOPED AND APPROVED BY THE SENIOR VICE PRESIDENT & CHIEF HUMAN RESOURCE OFFICER AS WELL AS THE EVP AND COO OF BOSTON MEDICAL CENTER.

PART I, LINES 4A-B

LINE 4A THE AMOUNT OF SEVERANCE COMPENSATION PAID TO DIANE GILWORTH WAS $319,039, WHICH IS REPORTED ON SCHEDULE J, PART II, COLUMN B(III). THE AMOUNT OF SEVERANCE PAID TO JEFFREY HUNT WAS $168,462, WHICH IS ALSO REPORTED ON SCHEDULE J, PART 11, COLUMN B(III). KIMBERLY SINCLAIR'S EMPLOYMENT ENDED IN DECEMBER 2022. SHE RECEIVED SEVERANCE IN 2023 IN THE AMOUNT OF $313,771 WHICH WILL BE REPORTED IN NEXT YEAR'S TAX RETURN. LINE 4B WELLSENSE PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN TO CERTAIN EXECUTIVES. AMOUNTS ARE CREDITED TO PARTICIPANTS' ACCOUNTS EACH YEAR. PLAN AMOUNTS ARE SUBJECT TO FORFEITURE AND PAYMENT ONLY IF CERTAIN CONDITIONS ARE MET, AS OUTLINED IN WELLSENSE'S AGREEMENT. AMOUNTS VEST ON SPECIFIED DATES BASED ON CONTINUED EMPLOYMENT BUT NO LATER THAN THE EXECUTIVE'S SIXTY-SECOND BIRTHDAY. AMOUNTS ACCRUED IN WELLSENSE ARE REPORTED IN SCHEDULE J, PART II, COLUMN C.

PART I, LINE 6

WELLSENSE PAID COMPENSATION CONTINGENT OF THE NET EARNINGS OF THE ORGANIZATION BASED ON THE ACHIEVEMENT OF VARIOUS GOALS. THESE COMPENSATION AMOUNTS ARE REFLECTED IN SCHEDULE J, PART II, COLUMN B(II).

PART I, LINE 7

DURING CALENDAR YEAR 2022, WELLSENSE PAID SIGN-ON BONUSES, RETENTION BONUSES, AND OTHER BONUSES TO SOME EMPLOYEES LISTED WHERE DISCRETION WAS EXERCISED BY MANAGEMENT.

SCHEDULE J, PART II

ELLEN WEINSTEIN, FORMER CLO AND CLERK OF WELLSENSE, WAS COMPENSATED BY BOSTON MEDICAL CENTER CORPORATION, AN UNRELATED ORGANIZATION, FOR SERVICES PROVIDED TO WELLSENSE. APPROXIMATELY 85% OF ELLEN WEINSTEIN'S TIME AND COMPENSATION WAS RELATED TO THE SERVICES PROVIDED TO WELLSENSE. ELLEN WEINSTEIN'S TOTAL REPORTABLE COMPENSATION, RETIREMENT/DEFERRED COMPENSATION, AND NONTAXABLE BENEFITS FOR 2022 WAS $292,644, $14,476, AND $1,172, RESPECTIVELY. KIMBERLY SINCLAIR, CHIEF INFORMATION OFFICER OF WELLSENSE THROUGH 12/31/2022, WAS COMPENSATED BY BOSTON MEDICAL CENTER CORPORATION, AN UNRELATED ORGANIZATION, FOR SERVICES PROVIDED TO WELLSENSE. APPROXIMATELY 100% OF KIMBERLY SINCLAIR'S TIME AND COMPENSATION WAS RELATED TO THE SERVICES PROVIDED TO WELLSENSE. KIMBERLY SINCLAIR'S TOTAL REPORTABLE COMPENSATION, RETIREMENT/DEFERRED COMPENSATION, AND NONTAXABLE BENEFITS FOR 2022 WAS $509,180, $43,375, AND $23,980, RESPECTIVELY.