Southcoast Health System Inc
- Assets
- $221.0m
- Revenue
- $46.1m
- Investments
- $12.7m
- Employees
- 0
- Location
- New Bedford, MA
- Founding
- 11/2000
- Data as of
- 09/2022
- EIN
- 04-2794625
Organization Overview
Southcoast Health System Inc is located in New Bedford, MA. The organization was established in 2000. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southcoast Health System Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Southcoast Health System Inc generated $46.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $18.4m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SOUTHCOAST HEALTH SYSTEM (SHS) IS TO CARE FOR AND IMPROVE THE HEALTH AND PROMOTE THE WELLNESS OF THE INDIVIDUALS IN THE SHS COMMUNITIES. (SEE SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHCOAST HEALTH NETWORK - SOUTHCOAST HEALTH SYSTEM, THROUGH ITS INTEREST IN SOUTHCOAST HEALTH NETWORK (SHN), AIMS TO PROVIDE NETWORK MANAGEMENT AND SUPPORT SERVICES TO PHYSICIANS AND OTHER MEDICAL PROFESSIONALS ASSOCIATED WITH THE SYSTEM.
SOUTHCOAST ACCOUNTABLE CARE ORGANIZATION - SOUTHCOAST HEALTH SYSTEM, THROUGH ITS INTEREST IN SOUTHCOAST ACCOUNTABLE CARE ORGANIZATION, AIMS TO EXPAND THE DELIVERY OF HEALTHCARE SERVICES WITH A VARIETY OF PUBLIC AND PRIVATE PAYERS AND TO SUPPORT THE REDUCING OF COSTS OF CARE WHILE IMPROVING QUALITY AND PATIENT EXPERIENCE.
SOUTHCOAST BEHAVIORAL HEALTH - SOUTHCOAST HEALTH SYSTEM, THROUGH ITS INTEREST IN SOUTHCOAST BEHAVIORAL HEALTH (SBH), AIMS TO ADDRESS AN URGENT HEALTHCARE NEED OF THE COMMUNITY IT SERVES BY PROVIDING HIGH QUALITY MEDICAL CARE FOR COMMUNITY MEMBERS FACING BEHAVIORAL HEALTH ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Hovan Former President & CEO | 0 | $0 | |
Rayford S Kruger MD President & CEO | OfficerTrustee | 8.5 | $0 |
Renee Clark Assistant Clerk/ Evp/ COO | Officer | 2.5 | $0 |
Wade Broughman Treasurer/ Evp Fin/ CFO | Officer | 5.5 | $0 |
Jeffrey Lawrence MD Svp, Ctio, Phys In Chief Pc | Officer | 24 | $0 |
Ilana Feinerman MD Trustee | Trustee | 1.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Premier Healthcare Solutions Consulting Services | 9/29/23 | $180,784 |
Mercer Investment Mgmt | 9/29/23 | $151,133 |
Community Servings Inc Medical Meal Deliver | 9/29/23 | $733,576 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $40,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,978 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,950 |
| Total Program Service Revenue | $32,151,672 |
| Investment income | $6,601,016 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,266,387 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,115,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $170,371 |
| Fees for services: Other | $13,038,496 |
| Advertising and promotion | $0 |
| Office expenses | $42,606 |
| Information technology | $202,606 |
| Royalties | $0 |
| Occupancy | $332,946 |
| Travel | $11,637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $238 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,175 |
| Insurance | $0 |
| All other expenses | $40 |
| Total functional expenses | $18,361,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $31,197,106 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,782,575 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $179,674 |
| Net Land, buildings, and equipment | $227,236 |
| Investments—publicly traded securities | $120,457,390 |
| Investments—other securities | $12,691,761 |
| Investments—program-related | $21,375,163 |
| Intangible assets | $0 |
| Other assets | $28,133,166 |
| Total assets | $221,044,071 |
| Accounts payable and accrued expenses | $5,271,748 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,814,621 |
| Total liabilities | $15,086,369 |
| Net assets without donor restrictions | $205,957,702 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $221,044,071 |