2025-08-13T12:51:39-05:00 2024-09-30 135565207 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2023-10-01 050259093 SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT SOUT 4017828000 100 KENYON AVENUE WAKEFIELD RI 028794299 THOMAS J BREEN VP AND CHIEF FINANCIAL OFFICER 4017828000 2025-08-13 1 0 STEPHANIE LONCZAK P01880207 6179881000 2025-08-13 2023 2025-03-06 01:10:19Z SYSTEM ENDOWMENT AARON S ROBINSON 100 KENYON AVENUE WAKEFIELD RI 028794299 2376525 0 X WWW.SOUTHCOUNTYHEALTH.ORG X 1989 RI PARENT ENTITY TO SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM WHICH PROVIDES PHILANTHROPIC SUPPORT TO THE SYSTEM AND AFFILIATES. 15 14 0 15 0 0 0 0 0 0 770740 905405 0 0 770740 905405 0 0 0 0 0 0 0 0 0 0 0 0 0 770740 905405 27578026 33442393 20657 76466 27557369 33365927 PARENT ENTITY TO SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM WHICH PROVIDES PHILANTHROPIC SUPPORT TO THE SYSTEM AND AFFILIATES. 0 0 IN PREVIOUS YEARS, SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT PROVIDED PLANNING, MANAGEMENT, AND FUNDRAISING ACTIVITIES FOR SOUTH COUNTY HOSPITAL AND SOUTH COUNTY HOME HEALTH. BY PROVIDING THESE SERVICES, THE HOSPITAL AND SOUTH COUNTY HOME HEALTH WERE ABLE TO FOCUS THEIR ACTIVITIES MORE TOWARD PROVIDING HIGH-QUALITY MEDICAL SERVICES TO PEOPLE IN SOUTHERN RHODE ISLAND. THE HEALTHCARE SYSTEM ENDOWMENT WAS INSTRUMENTAL IN HELPING RECRUIT NEW PHYSICIANS TO WORK FOR SOUTH COUNTY HOSPITAL, RAISE ADDITIONAL CHARITABLE DONATIONS FOR THE HOSPITAL SYSTEM AND PROMOTE THE HOSPITAL SYSTEM TO THE COMMUNITY. IN FISCAL YEAR ENDED SEPTEMBER 30, 2022, THIS ACTIVITY WAS TRANSFERRED TO THE SOUTH COUNTY HEALTH FOUNDATION. 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 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 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 RI X THOMAS J BREEN 4017828000 100 KENYON AVENUE WAKEFIELD RI 02879 CHRISTOPHER JALBERT VP OF MED STAFF (THRU 9/24) 1.00 42.00 X 0 318678 30064 NOAH BENEDICT SECRETARY 1.00 3.00 X X 0 0 0 ROBERT J BIERWIRTH MD PRESIDENT OF MED STAFF 1.00 3.00 X 0 0 0 JOSEPH MATTHEWS CHAIRMAN 1.00 3.00 X X 0 0 0 JAMES L FARRELL VICE CHAIRMAN 1.00 3.00 X X 0 0 0 BETTY RAMBUR PHD RN TREASURER 1.00 3.00 X X 0 0 0 SANDRA COLETTA TRUSTEE (THRU 4/24) 1.00 3.00 X 0 0 0 ROBERT K DYER MD TRUSTEE 1.00 3.00 X 0 0 0 JOHN H HOWLAND TRUSTEE 1.00 3.00 X 0 0 0 ROGEAN MAKOWSKI TRUSTEE 1.00 3.00 X 0 0 0 JASON P MARSHALL TRUSTEE 1.00 3.00 X 0 0 0 MICHAEL MCCAFFREY TRUSTEE (AS OF 4/24) 1.00 3.00 X 0 0 0 ERIC NORBERG TRUSTEE 1.00 3.00 X 0 0 0 AUSTIN C SMITH TRUSTEE 1.00 3.00 X 0 0 0 VICTORIA A WICKS TRUSTEE 1.00 3.00 X 0 0 0 BARBARA WOLFE TRUSTEE 1.00 3.00 X 0 0 0 AARON S ROBINSON PRESIDENT AND CEO 1.00 42.00 X 0 864218 50078 THOMAS J BREEN VP AND CHIEF FINANCIAL OFFICER 2.00 43.00 X 0 458792 46320 AARON WEISBORD MD FORMER TRUSTEE 0.00 40.00 X 0 446624 49499 SALVATORE ABBRUZZESE JR FORMER PRESIDENT MED STAFF 0.00 40.00 X 0 121676 0 0 2209988 175961 0 1 1 0 0 1916090 1916090 460435 1471120 -1010685 -1010685 -1010685 905405 0 0 905405 0 0 0 0 779786 835181 0 562546 562546 0 0 15837026 19457220 10961214 13146131 0 3861 27578026 33442393 20657 76466 20657 76466 X 27557369 33365927 27557369 33365927 27578026 33442393 X 905405 4646444 256709 X 0 1 X 1 0 X 3260010 3623749 0 0 0 6883759 3260010 3623749 6883759 1579006 5304753 420523 698323 1492867 742470 1916090 5270273 14568 9707 24275 12178307 0.43560 0.55630 X 26798239 5808557 32606796 23786466 3011773 26798239 42621831 -5004466 13830899 23786466 36341944 86458 6227012 10000 23583 42621831 34541444 1830565 30065 36341944 1.00000 0.00000 0.00000 0 0 562546 562546 0 0 ENDOWMENT POOLED INVESTMENTS 13146131 F 13146131 DUE TO AFFILIATES 76466 76466 X 5808558 4646444 256709 4903153 905405 0 905405 0 0 0 0 0 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM AND TO FUND CAPITAL EXPENDITURES. PART X, LINE 2: THE FOOTNOTE BELOW IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT. THE NOT-FOR-PROFIT ENTITIES (SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT, SOUTH COUNTY HOSPITAL, SOUTH COUNTY HOME HEALTH AND THE SOUTH COUNTY HEALTH FOUNDATION) OPERATE AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (CODE) AND ARE EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. OCEAN VIEW HEALTH VENTURE IS A LIMITED LIABILITY CORPORATION OF WHICH THE HOSPITAL IS THE SOLE MEMBER AND GENERALLY DOES NOT PROVIDE FOR INCOME TAXES SINCE THE HOSPITAL IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE CODE. THE TAX PROVISIONS AND RELATED LIABILITIES FOR SILVER SPRING HEALTH CARE MANAGEMENT WHICH IS A TAXABLE ENTITY CONTROLLED BY THE HOSPITAL ARE NOT SIGNIFICANT. THE HOSPITAL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY TO BE REALIZED UPON SETTLEMENT. CHANGES IN RECOGNITION IN MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGEMENT OCCURS. THE HOSPITAL DID NOT RECOGNIZE THE EFFECT OF ANY INCOME TAX PROVISIONS IN EITHER 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED CHANGE IN EQUITY INTERESTS IN LP 256,709. 0 0 0 0 0 0 0 0 0 AARON S ROBINSON PRESIDENT AND CEO 0 726783 0 125000 0 12435 0 30000 0 20078 0 914296 0 0 THOMAS J BREEN VP AND CHIEF FINANCIAL OFFICER 0 434720 0 17869 0 6203 0 30000 0 16320 0 505112 0 0 AARON WEISBORD MD FORMER TRUSTEE 0 209304 0 236857 0 463 0 30000 0 19499 0 496123 0 0 CHRISTOPHER JALBERT VP OF MED STAFF (THRU 9/24) 0 309386 0 8594 0 698 0 9321 0 20743 0 348742 0 0 SALVATORE ABBRUZZESE JR FORMER PRESIDENT MED STAFF 0 120830 0 0 0 846 0 0 0 0 0 121676 0 0 PART I, LINE 3 THE COMPENSATION OF THE CEO IS DETERMINED BY SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM WHICH USES THE FORM 990 OF OTHER ORGANIZATIONS, A COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO DETERMINE COMPENSATION. FORM 990, PART I, LINE 5, PART VII & PART IX, LINES 7 & 9 THE SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT DOES NOT HAVE ANY EMPLOYEES. THEY SHARE EMPLOYEES WITH SOUTH COUNTY HOSPITAL. DURING FISCAL YEAR ENDED SEPTEMBER 30, 2024, THE ENDOWMENT DID NOT REPORT OR RECORD ANY SALARIES, WAGES OR BENEFITS AND DID NOT REIMBURSE SOUTH COUNTY HOSPITAL FOR ANY EXPENSES INCURRED. FORM 990, PART VI, SECTION B, LINE 11B SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM AND ITS AFFILIATES (KNOWN AS SOUTH COUNTY HEALTH (SCH)) HAS POLICIES AND PROCEDURES ADOPTED BY ALL ENTITIES IN THE SYSTEM. THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S AUDIT COMMITTEE APPROXIMATELY 30 DAYS PRIOR TO THE FILING DEADLINE. THE AUDIT COMMITTEE THEN REVIEWS THE FORM 990 AND PROVIDES QUESTIONS AND COMMENTS TO THE ORGANIZATION'S ACCOUNTING DEPARTMENT. BEFORE IT IS FILED, A COPY OF THE FINAL FORM 990, INCLUDING REQUIRED SCHEDULES, IS PROVIDED TO THE MEMBERS OF THE BOARD OF TRUSTEES FOR REVIEW AND DISCUSSION WITH THE CHAIRMAN OF THE AUDIT COMMITTEE AT A BOARD MEETING PRIOR TO THE FILING DEADLINE. FORM 990, PART VI, SECTION B, LINE 12C SCH HAS POLICIES AND PROCEDURES ADOPTED BY ALL ENTITIES IN THE SYSTEM. MEMBERS OF THE GOVERNING BODY, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. IT IS PERIODICALLY REVIEWED AND DISCUSSED AT BOARD MEETINGS. IF A POTENTIAL CONFLICT IS IDENTIFIED, THE BOARD WOULD DISCUSS THE ITEM TO DETERMINE IF A CONFLICT EXIST. IF A CONFLICT EXISTS, THE INDIVIDUAL WOULD RECUSE THEMSELVES FROM THE DISCUSSIONS. ALL DISCUSSIONS ARE CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 15A SCH HAS POLICIES AND PROCEDURES ADOPTED BY ALL ENTITIES IN THE SYSTEM. THE BOARD OF TRUSTEES HAS THE ULTIMATE RESPONSIBILITY TO ENSURE THAT COMPENSATION OF THE EXECUTIVE LEADERSHIP OF SCH REFLECTS THE NORMS ESTABLISHED IN THE INDUSTRY, REWARDS AND REINFORCES THE VALUES AND LONG-RANGE GOALS OF THE SYSTEM, AND UPHOLDS THE BOARD'S RESPONSIBILITY TO STEWARDSHIP OF THE COMMUNITY'S ASSETS. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE PERFORMS A COMPENSATION REVIEW FOR THE CEO. THE VICE PRESIDENT OF HUMAN RESOURCES DOES A MARKET ANALYSIS OF DATA OF CEO POSITIONS IN COMPARABLE HOSPITALS INCLUDING THE USE OF FORM 990 OF OTHER ORGANIZATIONS AND COMPENSATION SURVEYS. THE EXECUTIVE COMMITTEE REVIEWS THE PACKET OF MATERIALS INCLUDING THE MARKET REVIEW OF COMPENSATION, A REVIEW OF CEO GOALS ATTAINMENT AND OTHER MATERIALS RELEVANT TO HIS OR HER PERFORMANCE. THE CEO PROVIDES THE EXECUTIVE COMMITTEE SUGGESTED COMPENSATION FOR THE CMO, CNO, AND CFO. THE EXECUTIVE COMMITTEE APPROVES ALL COMPENSATION DECISIONS AND CONTEMPOROUSLY DOCUMENTS THE DISCUSSION. 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 XI, LINE 9: UNREALIZED CHANGE IN EQUITY INTERESTS IN LP 256,709. SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM 100 KENYON AVENUE WAKEFIELD RI 02879 050445136 HEALTHCARE RI 501(C)(3) 3 SCH ENDOWMENT 1 SOUTH COUNTY HOME HEALTH 14 WOODRUFF AVENUE NARRAGANSETT RI 02882 056033975 HEALTHCARE RI 501(C)(3) 10 SCH HEALTHCARE 1 SOUTH COUNTY HEALTH FOUNDATION 100 KENYON AVENUE WAKEFIELD RI 02879 854028860 SUPPORT RI 501(C)(3) 7 SCH HEALTHCARE 1 SILVER SPRING HEALTH CARE MANAGEMENT 100 KENYON AVENUE WAKEFIELD RI 02879 050459095 HOLDING COMPANY RI SCH HEALTHCARE C 1.00000 1 SOUTH COUNTY QUALITY CARE 100 KENYON AVENUE WAKEFIELD RI 02879 050491313 PERSONAL CARE RI SS HEALTHCARE C 1.00000 1 SSHM SURGICAL SUPPLY INC 100 KENYON AVENUE WAKEFIELD RI 02879 050478937 RETAIL OF MED EQP RI SS HEALTHCARE C 1.00000 1 CHARITABLE REMAINDER TRUSTS (3) CHARITABLE TRUST RI N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0