2023-07-28T08:29:18-07:00 2022-09-30 990 2021-10-01 043003172 SOUTHCOAST VENTURES INC SOUT 5089732905 101 PAGE STREET NEW BEDFORD MA 02740 Wade Broughman EVP Finance and CFO 5089732905 2023-08-15 1 11 0 AAL2 2021 2023-04-26 12:10:37Z RAYFORD KRUGER 101 PAGE STREET NEW BEDFORD MA 02740 183458 0 X X 1988 MA IMPROVING ACCESS TO HEALTHCARE SERVICES WITHIN THE COMMUNITIES SERVED BY SOUTHCOAST HOSPITALS GROUP INC. (SHG) AND ITS AFFILIATES BY IDENTIFYING PHYSICIAN/PROVIDER SHORTAGES AND SUPPORTING THE RECRUITMENT OF HEALTHCARE PROFESSIONALS. 17 14 0 12 0 0 0 0 257777 183458 0 0 0 0 257777 183458 0 0 0 0 0 0 0 0 0 88958 69724 88958 69724 168819 113734 4074924 4187296 4306 2944 4070618 4184352 SOUTHCOAST VENTURES PARTICIPATES IN PROGRAMS THAT PROVIDE FOR THE IMPROVEMENT OF ACCESS TO HEALTHCARE SERVICES WITHIN THE COMMUNITIES SERVED BY SOUTHCOAST HOSPITALS GROUP, INC. AND ITS AFFILIATED CORPORATIONS THAT ARE EXEMPT FROM FEDERAL INCOME TAX, INCLUDING IDENTIFYING AREAS OF PHYSICIAN SHORTAGES, PROVIDING SUPPORT FOR THE RECRUITMENT OF PHYSICIANS TO AREAS WHERE THERE IS A COMMUNITY NEED AND PROVIDING PRACTICE SUPPORT. 0 0 0 0 168075 MRI JOINT VENTURE - JOINT VENTURE WITH SHIELD'S MRI PROVIDES PROMPT AND ACCURATE DIAGNOSIS AND TREATMENT FOR ITS NON-PROFIT AFFILIATE SOUTHCOAST HOSPITALS GROUP, INC.'S PATIENTS. MRI SERVICES ARE PROVIDED AROUND THE CLOCK TO MEET THE NEEDS OF SOUTHCOAST PATIENTS, THEREBY IMPROVING ACCESS TO HEALTHCARE SERVICES TO PATIENTS IN THE COMMUNITIES SERVED BY SHG. 41521 0 15383 AFFILIATE RENTAL INCOME - SOUTHCOAST VENTURES RENTS OUT MEDICAL OFFICES TO NON-PROFIT AFFILIATE SOUTHCOAST HOSPITALS GROUP, INC. (SHG). THE RENTING OF THIS MEDICAL OFFICE BUILDING HAS ENABLED SHG TO EXPAND THEIR SERVICES AND OFFER PATIENTS IN THEIR AREAS INCREASED ACCESS TO HIGH QUALITY HEALTH CARE SERVICES. 0 0 0 41521 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 14 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 1 1 MA X WADE BROUGHMAN 5089732905 101 PAGE STREET NEW BEDFORD MA 02740 X KEITH HOVAN EX-OFFICIO(UNTIL 12/21)/ PRESIDENT/CEO(UNTIL 1/22) 2.5 70 X X 0 2073393 344963 RAYFORD KRUGER MD PRESIDENT & CEO (AS OF 3/22) 2.5 70 X X 0 1247543 45373 RENEE CLARK ASST CLERK/ EVP & COO SHG 2.5 70 X 0 1054119 181423 WADE BROUGHMAN TREASURER/ EVP & CFO SHG 2.5 70 X 0 1093794 34680 ILANA FEINERMAN MD TRUSTEE 1.5 44.5 X 0 591757 25541 ANA LAUS TRUSTEE (AS OF 1/22) 1.5 44.5 X 0 408613 15780 JAMES WITKOWSKI MD TRUSTEE (UNTIL 12/21) 1.5 44.5 X 0 363990 46863 JAY S SCHACHNE MD TRUSTEE 1.5 44.5 X 0 6802 408 SALMAN BASHIR MD TRUSTEE 1.5 6 X 0 1100 0 LOUIS CABRAL CHAIR 2.5 9 X X 0 0 0 DONALD GIUMETTI VICE CHAIR 2.5 10 X X 0 0 0 DENNIS FUSCO TRUSTEE 1.5 4.5 X 0 0 0 JAMES JEROME COOGAN CLERK 2.5 7.5 X X 0 0 0 JASON RUA TRUSTEE 1.5 7 X 0 0 0 ELIZABETH HUIDEKOPER TRUSTEE 1.5 6 X 0 0 0 HELENA DASILVA HUGHES TRUSTEE 1.5 4.5 X 0 0 0 W HUGH MORTON TRUSTEE 1.5 4.5 X 0 0 0 JONATHAN L ROUNDS TRUSTEE 1.5 4.5 X 0 0 0 HEIDI KOSTIN TRUSTEE 1.5 4.5 X 0 0 0 CARMEN SYLVESTER TRUSTEE 1.5 4.5 X 0 0 0 CHRISTOPHER HODGSON TRUSTEE 1.5 4.5 X 0 0 0 0 6841111 695031 0 0 1 0 0 0 0 0 0 0 0 0 0 MRI JOINT VENTURE 621500 168075 168075 0 0 AFFILIATE RENTAL INCOME 531390 15383 0 0 15383 0 0 0 0 183458 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 183458 168075 0 15383 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 21033 21033 0 0 0 0 0 0 1339 0 1339 0 0 0 0 0 0 0 0 0 37260 20474 16786 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5376 0 5376 0 2577 0 2577 0 OTHER FEES 125 0 125 0 INTERCO CONTRACTED SERVICES 2000 0 2000 0 BUILDING SUPPLIES 14 14 0 0 0 0 0 0 69724 41521 28203 0 0 0 1602090 1694751 0 0 0 0 0 0 0 0 0 0 0 0 467 485 2701009 484288 2222096 2216721 0 0 0 0 249000 249000 0 0 1271 26339 4074924 4187296 1606 2944 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2700 4306 2944 X 4070618 4184352 0 0 4070618 4184352 4074924 4187296 113734 0 0 0 0 0 X X 0 1 X 1 0 X X 1 SOUTHCOAST HOSPITALS GROUP INC 222592333 3 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 2174238 2174238 0 464148 463206 942 0 0 0 0 0 36629 12664 23965 0 25994 8418 17576 2216721 INVESTMENT IN MRI 249000 C 249000 0 1 0 0 0 0 0 0 0 WADE BROUGHMAN TREASURER/ EVP & CFO SHG 0 700000 0 236000 0 157794 0 17400 0 17280 0 1128474 0 0 RAYFORD KRUGER MD PRESIDENT & CEO (AS OF 3/22) 0 184776 0 73305 0 989462 0 35100 0 10273 0 1292916 0 0 RENEE CLARK ASST CLERK/ EVP & COO SHG 0 700000 0 236000 0 118119 0 161160 0 20263 0 1235542 0 109644 KEITH HOVAN EX-OFFICIO(UNTIL 12/21)/ PRESIDENT & CEO(UNTIL 1/22) 0 1380000 0 0 0 693393 0 324300 0 20663 0 2418356 0 264993 JAMES WITKOWSKI MD TRUSTEE (UNTIL 12/21) 0 279230 0 25000 0 59760 0 35100 0 11763 0 410853 0 0 ANA LAUS TRUSTEE (AS OF 1/22) 0 279230 0 25000 0 104383 0 15600 0 180 0 424393 0 0 ILANA FEINERMAN MD TRUSTEE 0 435671 0 75000 0 81086 0 15600 0 9941 0 617298 0 0 Schedule J, Part I OFFICERS, DIRECTORS, AND TRUSTEES OF SOUTHCOAST VENTURES, INC. (SCV) RECEIVE NO COMPENSATION FOR THEIR ROLES IN THESE CAPACITIES. OFFICERS, DIRECTORS, AND TRUSTEES (BOTH CURRENT AND FORMER) WITH REPORTABLE COMPENSATION ARE COMPENDATED BY THE RELATED ORGANIZATIONS SOUTHCOAST HOSPITALS GROUP, INC. (SHG) AND SOUTHCOAST PHYSICIANS GROUP, INC. (SPG) FOR SERVICES RENDERED OR AS PART OF A DEFERRED COMPENSATION ARRANGEMENT. Schedule J, Part I, Line 3 SCV RELIED ON AFFILIATE SHG, A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION FOR THE PRESIDENT. SHG CHECKED THE FOLLOWING BOXES WHICH WERE USED TO ESTABLISH COMPENSATION OF THE PRESIDENT: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. Schedule J, Part I, Line 4 OFFICERS, DIRECTORS AND TRUSTEES 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 TERMINATION OF EMPLOYMENT DO FULLY VESTED PARTICIPANTS RECEIVE DISTRIBUTIONS FROM THE PLAN. CONTRIBUTIONS VEST THE EARLIER OF JULY 1 OF THE THIRD 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. (1) RENEE CLARK $112,613, (2) KEITH HOVAN $316,134, AND (3) WADE BROUGHMAN $143,760. IN ADDITION TO THE ABOVE OUTLINED PLAN, THE FOLLOWING INDIVIDUALS ALSO HAVE SEPARATE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS. KEITH HOVAN - SOUTHCOAST HOSPITALS GROUP, INC. ESTABLISHED AN EXECUTIVE BENEFIT PLAN FOR THE BENEFIT OF KEITH HOVAN. UNDER THE TERMS OF THE PLAN, A CONTRIBUTION CREDIT, INCLUDED IN SCHEDULE J, PART I, COLUMN (C) IS CREDITED TO HIS ACCOUNT ON A YEARLY BASIS. THE ACCOUNT BALANCE VESTS AS FOLLOWS: JUNE 30, 2013 - 50%, JUNE 30, 2016 - 75%, AND JUNE 30, 2018 - 100%. PURSUANT TO THE PLAN $364,900 WAS INCLUDED IN MR. HOVAN'S 2021 FORM W-2 AND SCHEDULE J PART II, COLUMN (B)(III). Schedule J, Part I, Line 7 RELATED ORGANIZATION SHG - SOME EXECUTIVES CASH COMPENSATION IS AT RISK AND PAID VIA AN INCENTIVE PLAN IN WHICH EXECUTIVE AND ORGANIZATION PERFORMANCE IS ASSESSED BY THE BOARD OF TRUSTEES AGAINST PRE-DETERMINED MEASURES. HOWEVER, NOT PAID THROUGH THIS ORGANIZATION, SCV. RELATED ORGANIZATION SPG - 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. Schedule J, Part II 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. (1) KEITH HOVAN $264,993, (2) RENEE CLARK $109,644. Form 990, Part IV, Line 12a FINANCIAL RESULTS FOR SOUTHCOAST VENTURES, INC. (SCV) ARE INCLUDED IN THE SOUTHCOAST HEALTH SYSTEM, INC. AND AFFILIATES CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED SEPTEMBER 30, 2022, AND 2021 WHICH WERE ISSUED WITH AN INDEPENDENT AUDITOR'S REPORT WITH AN UNQUALIFIED AUDIT OPINION. INCLUDED IN THESE AUDITED FINANCIAL STATEMENTS IS SUPPLEMENTAL CONSOLIDATED INFORMATION FOR THE YEAR ENDED SEPTEMBER 30, 2022. NO STAND ALONE AUDITED FINANCIAL STATEMENTS WERE ISSUED FOR SCV FOR THE YEAR ENDED SEPTEMBER 30, 2022 Form 990, Part VI, Section A, Line 2 CERTAIN OFFICERS AND TRUSTEES OF SCV ARE OFFICERS AND TRUSTEES OF RELATED ORGANIZATIONS. INDIVIDUALS WITH REPORTABLE COMPENSATION FROM RELATED ORGANIZATIONS IN PART VII, SECTION A, COLUMN (E) ARE EMPLOYEES OF RELATED ORGANIZATIONS. Form 990, Part VI, Section A, Line 6 SCV'S PARENT CORPORATION, SOUTHCOAST HEALTH SYSTEM, INC. (SHS), SERVES AS THE SOLE CORPORATE MEMBER OR SOLE CORPORATE STOCKHOLDER OF EACH OF ITS AFFILIATES. Form 990, Part VI, Section A, Line 7a SCV'S PARENT CORPORATION, SHS, ELECTS THE TRUSTEES OF DIRECTORS OF EACH AFFILIATE AND WITH RESPECT TO CERTAIN OF THE AFFILIATES, EXERCISES SPECIFIED RESERVED POWERS AND IS GOVERNED BY A BOARD OF TRUSTEES. Form 990, Part VI, Section A, Line 7b THE ROLE OF THE SHS BOARD IS TO MAINTAIN A SYSTEM PERSPECTIVE WITH A REGIONAL EMPHASIS AND A BROAD FOCUS ACROSS ALL ACTIVITIES IN THE ORGANIZATION. PRIMARY FUNCTIONS OF THE SHS BOARD INCLUDE STRATEGIC PLANNING, NETWORK GROWTH AND DEVELOPMENT, AND OVERALL FISCAL RESPONSIBILITIES. EACH AFFILIATE BOARD IS EXPECTED TO FOCUS ON ITS OWN ACTIVITIES ADDRESSING COMMUNITY NEEDS WITH ITS SCOPE OF SERVICES. Form 990, Part VI, Section B, Line 11b THE GOVERNING BOARD OF SHS REVIEWS FORM 990 AND ALL OF ITS RELATED SCHEDULES PRIOR TO FILING. THE REVIEW IS PERFORMED BY THE GOVERNING BOARD AS IT PROVIDES OVERSIGHT FOR COMPENSATION AND CONFLICT OF INTEREST MATTERS ON ITS OWN BEHALF AND ON BEHALF OF ITS AFFILIATES ON A SYSTEM WIDE BASIS. A COMPLETE COPY OF THE 990 AND ITS SCHEDULES ARE POSTED TO THE SHS BOARD WEBSITE PORTAL FOR ALL BOARD MEMBERS TO REVIEW, MAKE INQUIREIES AND HAVE ANY ADJUSTMENTS MADE PRIOR TO FILING. Form 990, Part VI, Section B, Line 12c SHS HAS CONFLICT OF INTEREST, LEGAL COMPLIANCE, AND CODE OF CONDUCT POLICIES THAT APPLY TO ALL TRUSTEES, OFFICERS, DIRECTORS, AND EMPLOYEES (REFERRED TO AS "MEMBERS"), ON AN ANNUAL BASIS, EACH MEMBER WILL COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE WHICH AFFIRMS THAT EACH PERSON HAS: (1) RECEIVED A COPY OF THE POLICY, (2) READ AND UNDERSTAND THE POLICY, (3) AGREED TO COMPLY WITH THE POLICY, AND (4) UNDERSTAND THAT THE SYSTEM ENTITIES ARE CHARITABLE ORGANIZATIONS AND THAT TO MAINTAIN THEIR FEDERAL TAX EXEMPTION, SUCH ENTITIES MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. TO ENSURE THE SYSTEM OPERATES IN A MANNER CONSISTENT WITH ITS CHARITABLE PURPOSES, DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS STATUS AS AN ORGANIZATION EXEMPT FROM FEDERAL TAXATION, AND IN CONNECTION WITH ITS COMPLIANCE PROGRAM, SYSTEM'S MANAGEMENT SHALL CONDUCT PERIODIC REVIEWS OF THE CONFLICT OF INTEREST POLICY AND THE OPERATION AND APPLICATION OF IT. MEMBERS SHALL DISCLOSE ANY INTEREST OR ACTIVITIES IN WHICH THEY ARE INVOLVED OR BECOME INVOLVED THAT DO RESULT, OR MAY APPEAR TO RESULT IN A CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST AND SHALL COMPLY WITH, AND MAKE ALL REQUIRED DISCLOSURES UNDER THE CONFLICT OF INTEREST POLICY PRIOR TO COMMENCING, CONTINUING, OR CONSUMMATING ANY ACTIVITY OR TRANSACTION WHICH RAISES A CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST. EACH MEMBER IS UNDER AN ONGOING DUTY TO UPDATE AND KEEP CURRENT INFORMATION CONTAINED IN THEIR QUESTIONNAIRE AT LEAST ANNUALLY, OR AS NECESSARY BASED ON DISCLOSURES. THE GENERAL COUNSEL WILL SUMMARIZE AND REPORT ALL DISCLOSURES TO THE PRESIDENT AND CEO AND THE CHAIRMAN OF THE BOARD OF TRUSTEES (OR HIS/HER DESIGNEE). UPON DISCLOSURE OF FINANCIAL OR NON-FINANCIAL INTERESTS ("INTERESTS") AND ALL MATERIAL FACTS RELATED THERETO BY MEMBER OR AN INTERESTED PERSON, THE CHAIR OF THE SYSTEM'S GOVERNANCE COMMITTEE SHALL DETERMINE IN CONJUNCTION WITH THE GENERAL COUNSEL WHETHER A CONFLICT OF INTEREST EXISTS. THE GOVERNANCE COMMITTEE CAN CONTINUE TO DISCUSS THE ISSUE WITH THE MEMBER OR INTERESTED PERSON TO CLARIFY OR OBTAIN ADDITIONAL INFORMATION. HOWEVER, BEFORE THE GOVERNANCE COMMITTEE DISCUSSES OR DETERMINES WHETHER THE MEMBER OR OTHER INTERESTED PERSONS INTEREST CONSTITUTE A CONFLICT OF INTEREST, THE MEMBER OR INTERESTED PERSON MUST LEAVE THE MEETING. IN THE EVENT THE INTEREST INVOLVES THE CHAIR OR CEO, THE REMAINING GOVERNANCE COMMITTEE MEMBERS SHALL APPOINT ONE OR MORE DISINTERESTED TRUSTEES TO MAKE SUCH A DETERMINATION. ONCE THE DETERMINATION OF THE CONFLICT OF INTEREST IS MADE BY THE GOVERNANCE COMMITTEE, SUCH DETERMINATION, ALONG WITH APPROPRIATE MITIGATION PLANS, WILL BE SUBMITTED BY THE GOVERNANCE COMMITTEE FOR REVIEW AND APPROVAL. IF ANY BOARD OR BOARD COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE AN ACTUAL CONFLICT OF INTEREST OR A POTENTIAL CONFLICT OF INTEREST, IT SHALL INFORM SUCH PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD SUCH A MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE IT. IF, AFTER HEARING THE RESPONSE OF SUCH PERSON AND MAKING FURTHER INQUIRY OR INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR BOARD COMMITTEE DETERMINES THAT SUCH PERSON HAS IN FACT FAILED TO DISCLOSE AN ACTUAL CONFLICT OF INTEREST OR A POTENTIAL CONFLICT OF INTEREST, THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION SHALL BE TAKEN. Form 990, Part VI, Section B, Line 15 SCV DOES NOT HAVE ANY EMPLOYEES. COMPENSATION FOR THE SCV PRESIDENT AND CEO WAS ESTABLISHED BY SOUTHCOAST HOSPITALS GROUP, INC. (SHG), A RELATED ENTITY. COMPENSATION FOR ALL VICE PRESIDENTS AND HIGHER LEVEL EXECUTIVES WHO MAY SERVE AS OFFICERS AND DIRECTORS IS ESTABLISHED USING THE FOLLOWING PROCEDURES: (1) REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE OF SHS, WITHOUT THE INVOLVEMENT OF PERSONS WITH A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE, (2) USE OF DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONAL COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE COMPENSATION COMMITTEE ENGAGED THE SERVICES OF AN INDEPENDENT HUMAN RESOURCE CONSULTING FIRM ("CONSULTANT") TO PROVIDE UPDATED COMPENSATION DATA AND ASSESS THE REASONABLENESS OF THE TOTAL COMPENSATION PROVIDED TO SHS' EXECUTIVES. THIS INCLUDED RELEVANT COMPETITIVE MARKET PRACTICE INFORMATION FOR THE NORTHEAST REGION MARKET OBTAINED FROM TWO HEALTHCARE EXECUTIVE COMPENSATION SURVEYS THAT WERE PREPARED BY INDEPENDENT FIRMS. THE CONSULTANT ALSO COMPILED NATIONAL MARKET DATA FROM THREE COMMERCIALLY AVAILABLE HEALTHCARE EXECUTIVE COMPENSATION SURVEYS PREPARED BY INDEPENDENT FIRMS, AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING WITH RESPECT TO DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VII, Section A, Line 1a TRUSTEES AND OFFICERS ARE COMPENSATED FOR THEIR ROLES OUTSIDE OF THEIR CAPACITY AS TRUSTEES AND OFFICERS. Form 990, Part IX, Line 11g OUTSOURCED SERVICES $21,033 Form 990, Part XII, Line 2b FINANCIAL RESULTS FOR SOUTHCOAST VENTURES, INC. (SCV) ARE INCLUDED IN THE SOUTHCOAST HEALTH SYSTEM, INC. AND AFFILIATES CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED SEPTEMBER 30, 2022, AND 2021 WHICH WERE ISSUED WITH AN INDEPENDENT AUDITOR'S REPORT WITH AN UNQUALIFIED AUDIT OPINION. INCLUDED IN THESE AUDITED FINANCIAL STATEMENTS IS SUPPLEMENTAL CONSOLIDATED INFORMATION FOR THE YEAR ENDED SEPTEMBER 30, 2022. NO STAND ALONE AUDITED FINANCIAL STATEMENTS WERE ISSUED FOR SCV FOR THE YEAR ENDED SEPTEMBER 30, 2022. SOUTHCOAST HEALTH SYSTEM INC 101 PAGE STREET NEW BEDFORD MA 02740 042794625 SUPPORT SHG MA 501(C)(3) 12:TYPE III-FI N/A 0 SOUTHCOAST HOSPITALS GROUP INC 101 PAGE STREET NEW BEDFORD MA 02740 222592333 ACUTE CARE HOSPITALS MA 501(C)(3) 3 SOUTHCOAST HEALTH SYSTEM INC 1 SOUTHCOAST PHYSICIANS GROUP INC 200 MILL ROAD FAIRHAVEN MA 02719 222703314 PHYSICIAN SERVICES MA 501(C)(3) 10 SOUTHCOAST HEALTH SYSTEM INC 1 CHARLTON LONG TERM CARE SERVICES INC 363 HIGHLAND AVE FALL RIVER MA 02720 043109579 SUPPORT SHG MA 501(C)(3) 12:TYPE I SOUTHCOAST HEALTH SYSTEM INC 1 SOUTHCOAST VISITING NURSE ASSOCIATION INC 200 MILL ROAD FAIRHAVEN MA 02719 042105745 HOME CARE SERVICES MA 501(C)(3) 10 SOUTHCOAST HEALTH SYSTEM INC 1 SAINT LUKES NURSING HOME INC 101 PAGE STREET NEW BEDFORD MA 02740 042984542 INACTIVE MA 501(C)(3) 12: TYPE I SOUTHCOAST HEALTH SYSTEM INC 1 SOUTHCOAST HEALTH AMBASSADORS INC 363 HIGHLAND AVE FALL RIVER MA 02720 043583676 SUPPORT SHG MA 501(C)(3) 12, TYPE I SOUTHCOAST HOSPITALS GROUP INC 1 COASTLINE PROFESSIONAL ASSURANCE CORP LTD PO BOX 1085 GRAND CAYMAN CJ KY1-1102 980445031 INSURANCE CJ SOUTHCOAST HEALTH SYSTEMS INC C 1 HEALTH MANAGEMENT INITIATIVES INC 363 HIGHLAND AVE FALL RIVER MA 02720 042998712 COMM. RENTAL MA SOUTHCOAST HEALTH SYSTEMS INC C 1 CHARITABLE REMAINDER TRUST (12) VARIES VARIES MA 02740 CHARITABLE TRUST MA SOUTHCOAST HOSPITALS GROUP INC T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 FALL RIVER NEW BEDFORD REGIONAL MRI LP 700 CONGRESS ST STE 204 QUINCY MA 02169 043043884 MRI SERVICES MA Related 0 311250 249002 1 0 0 0.249