Form 990 for tax year 2023
Filed by JENNIE STUART MEDICAL CENTER INC.
Totals
- Total revenue
- $199,080,576
- Total expenses
- $196,914,590
- Contributions and grants received
- $50,000
- Grants paid
- $369,936
- Program service revenue
- $191,636,415
- Investment income
- $6,131,849
- Other revenue
- $1,262,312
- Total assets, end of year
- $274,365,569
- Total liabilities, end of year
- $129,512,510
- Net assets or fund balances, end of year
- $144,853,059
- Program services expenses (Part IX)
- $156,055,042
- Management and general expenses
- $40,859,548
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $156,055,042
Program services were 79.3% 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
$50,000
-
2a · Program service revenue: NET PATIENT REVENUE
total $191,621,170 · related or exempt $191,621,170
-
2b · Program service revenue: BIO MED INCOME
total $15,245 · related or exempt $15,245
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,979,037 · excluded $2,979,037
-
6a · Gross rents
real property $192,297
-
6b · Less rental expenses
real property $195,082
-
6c · Rental income or loss
real property -$2,785 · personal property $0
-
6d · Net rental income or loss
total -$2,785 · excluded -$2,785
-
7a · Gross sales of assets other than inventory
securities $34,915,373
-
7b · Less cost or other basis and sales expenses
securities $31,762,561
-
7c · Gain or loss
securities $3,152,812 · other assets $0
-
7d · Net gain or loss
total $3,152,812 · excluded $3,152,812
-
11a · Other revenue: MISC REVENUE
total $866,790 · excluded $866,790
-
11b · Other revenue: CAFETERIA SALES
total $398,307 · excluded $398,307
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,265,097
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $369,936 · program services $369,936
-
5 · Compensation of officers, directors and key employees
total $542,570 · management and general $542,570
-
7 · Other salaries and wages
total $79,808,746 · program services $69,420,043 · management and general $10,388,703
-
8 · Pension plan contributions
total $999,864 · program services $856,633 · management and general $143,231
-
9 · Other employee benefits
total $6,919,844 · program services $5,928,572 · management and general $991,272
-
10 · Payroll taxes
total $5,177,370 · program services $4,435,709 · management and general $741,661
-
11a · Fees: management
total $1,484,433 · management and general $1,484,433
-
11b · Fees: legal
total $202,395 · program services $26,000 · management and general $176,395
-
11c · Fees: accounting
total $181,447 · management and general $181,447
-
11g · Fees: other
total $19,925,001 · program services $13,757,094 · management and general $6,167,907 · fundraising $0
-
12 · Advertising and promotion
total $424,275 · management and general $424,275
-
13 · Office expenses
total $3,315,236 · program services $1,689,406 · management and general $1,625,830
-
14 · Information technology
total $4,209,284 · program services $1,238,043 · management and general $2,971,241
-
16 · Occupancy
total $2,687,941 · program services $2,613,533 · management and general $74,408
-
17 · Travel
total $211,677 · program services $136,631 · management and general $75,046
-
19 · Conferences, conventions and meetings
total $48,657 · program services $48,657
-
20 · Interest
total $3,745,305 · program services $3,745,305
-
22 · Depreciation, depletion and amortization
total $9,150,196 · program services $8,152,795 · management and general $997,401
-
23 · Insurance
total $1,760,408 · program services $128,628 · management and general $1,631,780
-
24a · Other expenses: MEDICAL SUPPLIES
total $40,340,516 · program services $40,340,516
-
24b · Other expenses: PROVIDER TAX
total $7,923,463 · management and general $7,923,463
-
24c · Other expenses: REPAIRS & MAINTENANCE
total $3,920,690 · program services $2,852,741 · management and general $1,067,949
-
24d · Other expenses: EMPLOYEE & PHYSICIAN RECRUITEMENT
total $781,623 · program services $90,622 · management and general $691,001
-
24e · All other expenses
total $2,783,713 · program services $224,178 · management and general $2,559,535 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,036,920 · end of year $18,621,489
-
2 · Savings and temporary cash investments
beginning of year $128,286,611 · end of year $110,243,339
-
3 · Pledges and grants receivable
beginning of year $0
-
4 · Accounts receivable
beginning of year $17,549,925 · end of year $22,777,846
-
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
-
8 · Inventories for sale or use
beginning of year $2,793,297 · end of year $2,506,397
-
9 · Prepaid expenses and deferred charges
beginning of year $2,296,550 · end of year $2,825,032
-
10a · Land, buildings and equipment: cost or other basis
$218,371,524
-
10b · Land, buildings and equipment: accumulated depreciation
$128,669,487
-
10c · Land, buildings and equipment, net
beginning of year $73,213,445 · end of year $89,702,037
-
11 · Investments: publicly traded securities
beginning of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $1,125,441 · end of year $1,125,441
-
14 · Intangible assets
beginning of year $0
-
15 · Other assets
beginning of year $21,727,357 · end of year $26,563,988
-
17 · Accounts payable and accrued expenses
beginning of year $21,933,381 · end of year $18,656,302
-
18 · Grants payable
beginning of year $0
-
19 · Deferred revenue
beginning of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $62,234,732 · end of year $78,245,482
-
21 · Escrow or custodial account liability
beginning 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 $7,013,683 · end of year $3,884,409
-
24 · Unsecured notes and loans payable
beginning of year $0
-
25 · Other liabilities
beginning of year $30,178,067 · end of year $28,726,317
-
27 · Net assets without donor restrictions
beginning of year $132,445,268 · end of year $140,581,150
-
28 · Net assets with donor restrictions
beginning of year $3,224,415 · end of year $4,271,909
Mission and programs · 2023
Mission
JSMC IS COMMITTED TO EXCELLENCE IN SERVICE, AND WE EXIST TO PROMOTE, PRESERVE AND ACCOMMODATE THE GROWING HEALTHCARE NEEDS OF OUR COMMUNITY.
-
PROVIDE HOSPITAL INPATIENT, OUTPATIENT, AND EMERGENCY ROOM SERVICES TO AREA RESIDENTS. IN RECOGNITION OF ITS MISSION, JSMC WILL STRIVE TO PASSIONATELY PURSUE A CULTURE OF EXCEPTIONAL SERVICE AND A COMMITMENT TO CONTINUOUS QUALITY IMPROVEMENT. THE AMOUNT OF CHARITY CARE AT COST WAS APPROXIMATELY $45,000 FOR THE YEAR ENDED DECEMBER 31, 2023.
Expenses $156,055,042 · Grants $369,936 · Revenue $191,636,415
As filed on the 2023 return.
Listed in Part VII
-
Casey Covington MDCASEY COVINGTON MD
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Charles TurnerCHARLES TURNER
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Janet DixonJANET DIXON
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Leslie CarrollLESLIE CARROLL
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Matthew Robinson MDMATTHEW ROBINSON MD
PRESIDENT ELECT MEDICAL STAFF
- Total calculated
- $0
- Hours/week
- 1
-
Alissa YoungALISSA YOUNG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Betsy SheltonBETSY SHELTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Carter HendricksCARTER HENDRICKS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Hollis WhiteHOLLIS WHITE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Marty BozarthMARTY BOZARTH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Steve TribbleSTEVE TRIBBLE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Eric LeeERIC LEE
CEO
- Total calculated
- $0
- Hours/week
- 40
-
Mark LarameeMARK LARAMEE
CFO
- Total calculated
- $0
- Hours/week
- 40
-
Beth McCrawBETH MCCRAW
CHIEF NURSING OFFICER
- Total calculated
- $202,708
- From this org
- $190,140
- From related orgs
- $0
- Other
- $12,568
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $187,720
- Bonus
- $55
- Other
- $2,365
- Deferred
- $6,249
- Nontaxable benefits
- $6,319
- Filer's total
- $202,708
-
Jasmine EmersonJASMINE EMERSON
AVP OF HUMAN RESOURCES
- Total calculated
- $119,216
- From this org
- $107,994
- From related orgs
- $0
- Other
- $11,222
- Hours/week
- 40
-
Keith TomsKEITH TOMS
VP OF INTEGRATED SERVICES
- Total calculated
- $245,249
- From this org
- $229,317
- From related orgs
- $0
- Other
- $15,932
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $228,270
- Bonus
- $55
- Other
- $992
- Deferred
- $5,288
- Nontaxable benefits
- $10,644
- Filer's total
- $245,249
-
David BealleDAVID BEALLE
PHYSICIAN
- Total calculated
- $941,486
- From this org
- $922,233
- From related orgs
- $0
- Other
- $19,253
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $607,118
- Bonus
- $311,586
- Other
- $3,529
- Deferred
- $9,900
- Nontaxable benefits
- $9,353
- Filer's total
- $941,486
-
Frederick Robbe IIIFREDERICK ROBBE III
PHYSICIAN
- Total calculated
- $972,940
- From this org
- $963,456
- From related orgs
- $0
- Other
- $9,484
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $628,265
- Bonus
- $332,259
- Other
- $2,932
- Deferred
- $9,100
- Nontaxable benefits
- $384
- Filer's total
- $972,940
-
Gerame WellsGERAME WELLS
PHYSICIAN
- Total calculated
- $747,260
- From this org
- $728,841
- From related orgs
- $0
- Other
- $18,419
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $378,823
- Bonus
- $350,018
- Other
- $0
- Deferred
- $9,900
- Nontaxable benefits
- $8,519
- Filer's total
- $747,260
-
Tanner ParrentTANNER PARRENT
PHYSICIAN
- Total calculated
- $1,006,109
- From this org
- $989,205
- From related orgs
- $0
- Other
- $16,904
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $447,060
- Bonus
- $542,145
- Other
- $0
- Deferred
- $9,900
- Nontaxable benefits
- $7,004
- Filer's total
- $1,006,109
-
Timothy ChangTIMOTHY CHANG
PHYSICIAN
- Total calculated
- $820,417
- From this org
- $804,727
- From related orgs
- $0
- Other
- $15,690
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $559,763
- Bonus
- $244,964
- Other
- $0
- Deferred
- $9,900
- Nontaxable benefits
- $5,790
- Filer's total
- $820,417
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 · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Approval by the board or compensation committee
- 6a · Pay contingent on this 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
- 5b · Pay contingent on a related organization's revenues
- 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)
- Schedule J, Part I, Line 1a Health or social club dues or initiation fees
- COUNTRY CLUB MEMBERSHIP DUES WERE PAID FOR THE CEO AND WERE EXCLUDED FROM TAXABLE COMPENSATION.
- Schedule J, Part I, Line 6a Compensation contingent on net earnings of the organization
- JSMC'S ANNUAL INCENTIVE PLAN IS BASED ON THE FOLLOWING GUIDING PRINCIPLES: - SUPPORT THE MISSION OF JSMC - RETAIN AND MOTIVATE A HIGH PERFORMANCE EXECUTIVE TEAM - REWARD SUCCESS IN ACHIEVING MEASURABLE FINANCIAL, QUALITY AND STRATEGIC GOALS - ALIGN INCENTIVE COMPENSATION AWARDS WITH THE STRATEGIC PLAN OF JSMC - ENCOURAGE HIGH LEVELS OF TEAM AND INDIVIDUAL PERFORMANCE PLAN PARTICIPANTS INCLUDE SELECT LEADERS AND MANAGERS AT JSMC. THE ANNUAL INCENTIVE AWARD LEVELS ARE: - THRESHOLD = 5% OF BASE SALARY - TARGET = 10% OF BASE SALARY - MAXIMUM = 15% OF BASE SALARY PERFORMANCE MEASURES ARE BASED ON THE PARTICIPANT'S PROGRESS AGAINST THE FOLLOWING METRICS: 1. PATIENT EXPERIENCE - HCAHPS SCORES MEETING AND/OR EXCEEDING TARGET 2. QUALITY - READMISSION RATES MEETING AND/OR EXCEEDING TARGET 3. FINANCIAL - OPERATING MARGIN MEETING AND/OR EXCEEDING VARIOUS TIERS
- Schedule J, Part II COMPENSATION FROM UNRELATED ORGANIZATIONS
- THE HOSPITAL CONTRACTS THE SERVICES OF ERIC LEE (CEO) AND MARK LARAMEE (CFO) WITH QHR (FORMERLY QUORUM HEALTH RESOURCES, INC.), AN UNRELATED ORGANIZATION. QHR WAS PAID $902,279 FOR SERVICES PROVIDED BY THESE INDIVIDUALS DURING 2023.
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
-
JENNIE STUART HEALTH FOUNDATION
$369,936
ADMIN SUPPORT
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.
-
JENNIE STUART HEALTH FOUNDATION
501(c)(3) · SUPPORT · KY · controlled entity
Directly controlled by JSMC
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.
-
FAIRVIEW PHYSICIANS NETWORK LLC
PHYSCIAN SRVS · KY
Directly controlled by JSMC
-
WESTERN KENTUCKY MEDICAL DEVELOPMENTLLC
RENTAL · KY
Directly controlled by JSMC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
PHYSICIANS' HOLDINGS LLC
Excluded · BUILDING RENT · KY · 57% owned · share of income $198,755 · share of assets $1,394,641
Directly controlled by JSMC
-
KENTUCKY HEALTHCARE HOLDINGS I LLC
Related · REAL ESTATE · TN · 50% owned · share of income $117,084 · share of assets $465,195
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413209349312816
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