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Nonprofiteer
← SOUTHCOAST PHYSICIANS GROUP INC

Form 990 for tax year 2024

Filed by SOUTHCOAST PHYSICIANS GROUP INC.

Totals

Total revenue
$337,488,438
Total expenses
$416,723,831
Contributions and grants received
$88,321
Grants paid
$0
Program service revenue
$337,647,532
Investment income
-$404,024
Other revenue
$156,609
Total assets, end of year
$169,282,089
Total liabilities, end of year
$169,282,089
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$395,619,250
Management and general expenses
$21,104,581
Fundraising expenses
$0
Program service expenses (Part III)
$395,619,250

Program services were 94.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DAVID MCCREADY

    EX-OFFICIO, PRES & CEO (TO 9/1/25)

    Total calculated
    $1,798,618
    From this org
    $0
    From related orgs
    $1,594,229
    Other
    $204,389
    Hours/week
    7.5 + 66.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,184,674 related
    Bonus
    $0 + $330,000 related
    Other
    $0 + $79,555 related
    Deferred
    $0 + $180,000 related
    Nontaxable benefits
    $0 + $24,389 related
    Filer's total
    $0 + $1,798,618 related

  • EDRESS OTHMAN MD

    TRUSTEE & PHYSICIAN

    Total calculated
    $1,186,338
    From this org
    $1,142,144
    From related orgs
    $0
    Other
    $44,194
    Hours/week
    61.5

    Schedule J breakdown matched by us

    Base
    $820,684
    Bonus
    $320,960
    Other
    $500
    Deferred
    $20,334
    Nontaxable benefits
    $23,860
    Filer's total
    $1,186,338

  • DENNIS LAROCK MD

    TTEE & PHYS, PRESIDENT (AS OF 9/25)

    Total calculated
    $1,139,225
    From this org
    $975,077
    From related orgs
    $0
    Other
    $164,148
    Hours/week
    61.5

    Schedule J breakdown matched by us

    Base
    $971,058
    Bonus
    $0
    Other
    $4,019
    Deferred
    $17,877 + $135,000 related
    Nontaxable benefits
    $11,271
    Filer's total
    $1,004,225 + $135,000 related

  • AARON NOVY

    TRUSTEE & PHYSICIAN

    Total calculated
    $218,720
    From this org
    $181,076
    From related orgs
    $0
    Other
    $37,644
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $170,142
    Bonus
    $4,203
    Other
    $6,731
    Deferred
    $12,530
    Nontaxable benefits
    $25,114
    Filer's total
    $218,720

  • SALMAN BASHIR MD

    TRUSTEE

    Total calculated
    $1,200
    From this org
    $0
    From related orgs
    $1,200
    Other
    $0
    Hours/week
    1.5 + 5.5 related

  • DONALD GIUMETTI

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2.5 + 12.5 related

  • JASON RUA

    CHAIR

    Total calculated
    $0
    Hours/week
    2.5 + 7 related

  • CARMEN F SYLVESTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7.5 related

  • CHRISTOPHER HODGSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7.5 related

  • DENNIS FUSCO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 4.5 related

  • ELIZABETH HUIDEKOPER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7 related

  • LOUIS CABRAL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1.5 + 7 related

  • RENEE CLARK

    CLERK, EVP COO

    Total calculated
    $1,424,360
    From this org
    $0
    From related orgs
    $1,221,168
    Other
    $203,192
    Hours/week
    26.5 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $776,964 related
    Bonus
    $0 + $295,800 related
    Other
    $0 + $148,404 related
    Deferred
    $0 + $178,803 related
    Nontaxable benefits
    $0 + $24,389 related
    Filer's total
    $0 + $1,424,360 related

  • WADE BROUGHMAN

    TREAS/EVP FIN & CFO SHG (TO 12/24)

    Total calculated
    $1,133,497
    From this org
    $0
    From related orgs
    $1,093,225
    Other
    $40,272
    Hours/week
    14.5 + 60.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $730,464 related
    Bonus
    $0 + $188,500 related
    Other
    $0 + $174,261 related
    Deferred
    $0 + $20,700 related
    Nontaxable benefits
    $0 + $19,572 related
    Filer's total
    $0 + $1,133,497 related

  • MICHAEL BUSHELL

    TREAS (AS OF 1/25)/EVP FIN & CFO SHG

    Total calculated
    $204,364
    From this org
    $0
    From related orgs
    $174,309
    Other
    $30,055
    Hours/week
    11.5 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $174,309 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $25,906 related
    Nontaxable benefits
    $0 + $4,149 related
    Filer's total
    $0 + $204,364 related

  • RICHARD PIN

    CHIEF OF VASCULAR SURGERY&ENDO VACULAR MED

    Total calculated
    $1,292,056
    From this org
    $1,247,733
    From related orgs
    $0
    Other
    $44,323
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $669,798
    Bonus
    $577,435
    Other
    $500
    Deferred
    $20,463
    Nontaxable benefits
    $23,860
    Filer's total
    $1,292,056

  • MICHAEL LANGWORTHY

    CHIEF OF ORTHOPEDIC SURGERY

    Total calculated
    $1,284,691
    From this org
    $1,246,666
    From related orgs
    $0
    Other
    $38,025
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $809,195
    Bonus
    $436,971
    Other
    $500
    Deferred
    $18,274
    Nontaxable benefits
    $19,751
    Filer's total
    $1,284,691

  • PATRICK GAGNON

    RADIATION ONCOLOGY CHIEF & CMIO

    Total calculated
    $1,262,422
    From this org
    $1,217,862
    From related orgs
    $0
    Other
    $44,560
    Hours/week
    42 + 10 related

    Schedule J breakdown matched by us

    Base
    $783,028
    Bonus
    $433,834
    Other
    $1,000
    Deferred
    $20,700
    Nontaxable benefits
    $23,860
    Filer's total
    $1,262,422

  • MATTHEW PHILLIPS

    CHIEF OF BRAIN AND SPINE SERVICES

    Total calculated
    $1,183,987
    From this org
    $1,142,756
    From related orgs
    $0
    Other
    $41,231
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $852,049
    Bonus
    $290,207
    Other
    $500
    Deferred
    $17,331
    Nontaxable benefits
    $23,900
    Filer's total
    $1,183,987

  • DANI HACKNER SVP CHIEF

    CLINICAL OFFICER, PHYS IN CHIEF MED

    Total calculated
    $1,122,550
    From this org
    $948,240
    From related orgs
    $0
    Other
    $174,310
    Hours/week
    18 + 42 related

    Schedule J breakdown matched by us

    Base
    $658,033
    Bonus
    $141,300
    Other
    $148,907
    Deferred
    $20,700 + $129,750 related
    Nontaxable benefits
    $23,860
    Filer's total
    $992,800 + $129,750 related

  • IRAKLIS GEROGIANNIS

    CHIEF CARDIOTHORACIC SURGERY

    Total calculated
    $1,096,744
    From this org
    $1,074,847
    From related orgs
    $0
    Other
    $21,897
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,055,380
    Bonus
    $19,467
    Other
    $0
    Deferred
    $20,700
    Nontaxable benefits
    $1,197
    Filer's total
    $1,096,744

  • JOHN CARROLL

    CO-CHIEF OF UROLOGY

    Total calculated
    $992,245
    From this org
    $951,794
    From related orgs
    $0
    Other
    $40,451
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $752,154
    Bonus
    $198,540
    Other
    $1,100
    Deferred
    $20,700
    Nontaxable benefits
    $19,751
    Filer's total
    $992,245

  • PETER COHN

    CHIEF CARDIOVASCULAR CARE CENTER

    Total calculated
    $880,802
    From this org
    $840,351
    From related orgs
    $0
    Other
    $40,451
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $644,668
    Bonus
    $64,400
    Other
    $131,283
    Deferred
    $20,700
    Nontaxable benefits
    $19,751
    Filer's total
    $880,802

  • MICHAEL GROSSMAN

    CHIEF TRAUMA AND ACUTE CARE

    Total calculated
    $839,229
    From this org
    $794,669
    From related orgs
    $0
    Other
    $44,560
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $758,669
    Bonus
    $25,000
    Other
    $11,000
    Deferred
    $20,700
    Nontaxable benefits
    $23,860
    Filer's total
    $839,229

  • ILANA FEINERMAN MD

    CHIEF OF OTOLARYNGOLOGY (ENT)

    Total calculated
    $717,877
    From this org
    $678,729
    From related orgs
    $0
    Other
    $39,148
    Hours/week
    60 + 4.5 related

    Schedule J breakdown matched by us

    Base
    $608,229
    Bonus
    $70,000
    Other
    $500
    Deferred
    $15,288
    Nontaxable benefits
    $23,860
    Filer's total
    $717,877

  • JEFFREY LAWRENCE MD

    SVP, CTIO, PIC PRIM CARE (TO 4/24)

    Total calculated
    $663,567
    From this org
    $621,977
    From related orgs
    $0
    Other
    $41,590
    Hours/week
    36 + 24 related

    Schedule J breakdown matched by us

    Base
    $229,919
    Bonus
    $0
    Other
    $392,058
    Deferred
    $14,567 + $16,953 related
    Nontaxable benefits
    $10,070
    Filer's total
    $646,614 + $16,953 related

  • JOHN PODKOWA

    EXECUTIVE CHIEF OF PRIMARY CARE

    Total calculated
    $571,214
    From this org
    $533,418
    From related orgs
    $0
    Other
    $37,796
    Hours/week
    36 + 8 related

    Schedule J breakdown matched by us

    Base
    $390,058
    Bonus
    $142,360
    Other
    $1,000
    Deferred
    $19,787
    Nontaxable benefits
    $18,009
    Filer's total
    $571,214

  • JORGE HUACO

    CHIEF OF GENERAL SURGERY/BARIATRICS

    Total calculated
    $563,713
    From this org
    $519,153
    From related orgs
    $0
    Other
    $44,560
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $458,827
    Bonus
    $59,826
    Other
    $500
    Deferred
    $20,700
    Nontaxable benefits
    $23,860
    Filer's total
    $563,713

  • CHRISTIAN POPE

    CHIEF SERVICES WOMEN & CHILDREN

    Total calculated
    $528,566
    From this org
    $493,852
    From related orgs
    $0
    Other
    $34,714
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $468,352
    Bonus
    $25,000
    Other
    $500
    Deferred
    $10,854
    Nontaxable benefits
    $23,860
    Filer's total
    $528,566

  • LINDA HEVENOR

    VP CLINICAL OPERATIONS

    Total calculated
    $361,865
    From this org
    $0
    From related orgs
    $317,783
    Other
    $44,082
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $263,383 related
    Bonus
    $0 + $54,400 related
    Other
    $0
    Deferred
    $0 + $19,578 related
    Nontaxable benefits
    $0 + $24,504 related
    Filer's total
    $0 + $361,865 related

  • COURTNEY IVES

    VP CARE CENTER OPERATIONS

    Total calculated
    $358,781
    From this org
    $0
    From related orgs
    $334,671
    Other
    $24,110
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,871 related
    Bonus
    $0 + $57,800 related
    Other
    $0
    Deferred
    $0 + $6,072 related
    Nontaxable benefits
    $0 + $18,038 related
    Filer's total
    $0 + $358,781 related

  • AHMET BURAKGAZI

    PHYSICIAN

    Total calculated
    $1,248,498
    From this org
    $1,207,713
    From related orgs
    $0
    Other
    $40,785
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $755,541
    Bonus
    $451,672
    Other
    $500
    Deferred
    $21,034
    Nontaxable benefits
    $19,751
    Filer's total
    $1,248,498

  • CHRISTOPHER SKEEHAN

    PHYSICIAN

    Total calculated
    $1,160,579
    From this org
    $1,116,019
    From related orgs
    $0
    Other
    $44,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $734,212
    Bonus
    $381,307
    Other
    $500
    Deferred
    $20,700
    Nontaxable benefits
    $23,860
    Filer's total
    $1,160,579

  • MARK SHPARBER

    PHYSICIAN - MEDICAL ONCOLOGY

    Total calculated
    $1,061,950
    From this org
    $1,021,254
    From related orgs
    $0
    Other
    $40,696
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $663,917
    Bonus
    $356,837
    Other
    $500
    Deferred
    $20,700
    Nontaxable benefits
    $19,996
    Filer's total
    $1,061,950

  • NOSHEEN JAVED MD

    ASSOC. CHF CARDIOVASCULAR CARE CTR

    Total calculated
    $1,025,257
    From this org
    $979,211
    From related orgs
    $0
    Other
    $46,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $768,268
    Bonus
    $210,443
    Other
    $500
    Deferred
    $22,186
    Nontaxable benefits
    $23,860
    Filer's total
    $1,025,257

  • CHRISTIAN PETRULIO

    PHYSICIAN - ORTHOPAEDIC SURGERY

    Total calculated
    $1,018,738
    From this org
    $989,945
    From related orgs
    $0
    Other
    $28,793
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $646,327
    Bonus
    $343,118
    Other
    $500
    Deferred
    $20,700
    Nontaxable benefits
    $8,093
    Filer's total
    $1,018,738

  • RAYFORD KRUGER MD

    FORMER PRES & EX-OFFICIO

    Total calculated
    $1,349,066
    From this org
    $0
    From related orgs
    $1,316,776
    Other
    $32,290
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $8,355 related
    Bonus
    $0 + $705,000 related
    Other
    $0 + $603,421 related
    Deferred
    $0 + $30,600 related
    Nontaxable benefits
    $0 + $1,690 related
    Filer's total
    $0 + $1,349,066 related

  • KEITH HOVAN

    FORMER PRESIDENT

    Total calculated
    $115,000
    From this org
    $0
    From related orgs
    $115,000
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $115,000 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $115,000 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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
SPG MADE PERFORMANCE PAYMENTS TO ONE TRUSTEE, FOR THEIR ROLE AS A PHYSICIAN, THAT INCLUDED TAX GROSS-UPS. TOTAL PAYMENTS WERE $203.
PART I, LINE 3
SPG RELIED ON AFFILIATE SOUTHCOAST HOSPITALS GROUP (SHG), A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION FOR THE SPG PRESIDENT. SHG CHECKED THE FOLLOWING BOXES TO ESTABLISH COMPENSATION: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINES 4A-B
LINE 4A: A SEVERANCE PAYMENT OF $391,827 WAS MADE DURING THE REPORTING PERIOD TO JEFFREY LAWRENCE. A SEVERANCE PAYMENT OF $115,000 WAS MADE DURING THE REPORTING PERIOD TO KEITH HOVAN, FROM AFFILIATE SOUTHCOAST HOSPITALS GROUP, INC. LINE 4B: CERTAIN OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTION CREDITS UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (C). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE, J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES THE VESTED PORTION OF CONTRIBUTIONS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. RENEE CLARK - $133,121 WADE BROUGHMAN - $158,103 DANI HACKNER - $142,080 PETER COHN - $125,490
PART I, LINE 7
A PORTION OF PHYSICIAN COMPENSATION IS AT RISK AND PAID VIA A COMPENSATION PLAN IN WHICH PERFORMANCE IS ASSESSED BASED ON PRE-DETERMINED MEASURES INCLUDING QUALITY AND PRODUCTIVITY.
PART II, COLUMN F
OFFICERS, DIRECTORS, AND KEY EMPLOYEES WHO ARE EMPLOYEES OF SOUTHCOAST PARTICIPATE IN SOUTHCOAST'S 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. PRIOR YEAR CONTRIBUTION CREDITS INCLUDED AS DEFERRED IN A PRIOR YEAR AND AS W-2 COMPENSATION IN THE CURRENT YEAR ARE INCLUDED IN SCHEDULE J, PART, II, COLUMN (F). ONLY UPON TERMINATIONS OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF: JULY 1 OF THE 3RD CALENDAR YEAR FOLLOWING THE CALENDAR YEAR IN WHICH THE CONTRIBUTION CREDIT IS MADE; UPON REACHING AGE 62; DEATH; DISABILITY; OR INVOLUNTARY SEPARATION. THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN F FOR THE FOLLOWING INDIVIDUALS INCLUDES THE ORIGINAL CONTRIBUTION CREDITS MADE TO THE PLAN WHICH ARE NO LONGER SUBJECT TO THE RISK OF FORFEITURE. DANI HACKNER - $131,130 RENEE CLARK - $143,760

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CARI REAL ESTATE LLC

    RENTAL REAL ESTATE · RI · income $15,228 · assets $831,629

    Directly controlled by SOUTHCOAST PHYSICIANS GROUP INC

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202622309349301422

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