2025-08-06T12:36:57-07:00 2024-09-30 990 2023-10-01 043003172 SOUTHCOAST VENTURES INC SOUT 5089732905 101 PAGE STREET NEW BEDFORD MA 02740 MICHAEL BUSHELL EVP FINANCE & CFO 5089732905 2025-08-15 1 2023 2025-03-06 01:10:19Z DAVID MCCREADY 101 PAGE STREET NEW BEDFORD MA 02740 203248 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. 15 12 0 12 0 0 0 0 134122 203248 0 0 0 0 134122 203248 0 0 0 0 0 0 0 0 0 138808 297051 138808 297051 -4686 -93803 4180460 6727238 794 2641375 4179666 4085863 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 124500 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. 156199 0 78748 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 156199 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 12 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 1 1 MA X MICHAEL BUSHELL 5089732905 101 PAGE STREET NEW BEDFORD MA 02740 X KEITH HOVAN FORMER PRESIDENT & CEO 0 0 X 0 1615731 0 RAYFORD KRUGER MD PRESIDENT & CEO (UNTIL 1/2024) 2.5 72.5 X X 0 1300999 310296 RENEE CLARK ASST CLERK/ EVP & COO SHS 2.5 70 X 0 1121185 191394 WADE BROUGHMAN TREASURER/ EVP & CFO SHS 2.5 72.5 X 0 1155114 39096 ILANA FEINERMAN MD TRUSTEE 1.5 43 X 0 681207 42352 DAVID MCCREADY PRESIDENT & CEO (AS OF 1/2024) 3.5 70.5 X X 0 317489 51283 JOHN MUNGOVAN MD TRUSTEE (AS OF 1/2024) 1.5 15 X 0 143702 0 ROBERT RONAN MD TRUSTEE (UNTIL 12/2023) 1.5 5 X 0 37639 0 SALMAN BASHIR MD TRUSTEE 1.5 4.5 X 0 3858 0 CARMEN SYLVESTER VICE CHAIR 2.5 6.5 X X 0 0 0 CHRISTOPHER HODGSON TRUSTEE, CLERK (AS OF 1/2024) 2.5 6.5 X X 0 0 0 DONALD GIUMETTI CHAIR 2.5 12.5 X X 0 0 0 JAMES JEROME COOGAN CLERK (UNTIL 12/2024) 2.5 5 X X 0 0 0 DENNIS FUSCO TRUSTEE 1.5 4.5 X 0 0 0 JASON RUA TRUSTEE 1.5 8 X 0 0 0 ELIZABETH HUIDEKOPER TRUSTEE 1.5 7 X 0 0 0 HELENA DASILVA HUGHES TRUSTEE 1.5 3 X 0 0 0 W HUGH MORTON TRUSTEE 1.5 3 X 0 0 0 JONATHAN L ROUNDS TRUSTEE 1.5 3 X 0 0 0 JAY S SCHACHNE MD TRUSTEE 1.5 4.5 X 0 0 0 LOUIS CABRAL TRUSTEE 1.5 7 X 0 0 0 0 6376924 634421 0 1 1 0 0 0 0 0 0 0 0 0 0 MRI JOINT VENTURE 621510 124500 124500 0 0 AFFILIATE RENTAL INCOME 531390 78748 0 0 78748 0 0 0 0 203248 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 0 203248 124500 0 78748 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 2602 2602 0 0 0 0 0 0 2533 482 2051 0 0 0 0 0 0 0 0 0 168820 34412 134408 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 108848 106639 2209 0 2668 595 2073 0 OTHER FEES 197 86 111 0 PARTS, REPAIRS, MAINTENANCE 7496 7496 0 0 WASTE DISPOSAL 3887 3887 0 0 0 0 0 0 297051 156199 140852 0 0 0 1572225 248040 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6417883 599652 2214511 5818231 0 0 0 0 249000 249000 0 0 144724 411967 4180460 6727238 596 21618 0 0 0 0 0 0 0 0 0 0 0 0 0 198 2619757 794 2641375 X 4179666 4085863 0 0 4179666 4085863 4180460 6727238 -93803 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 3946553 562558 3383995 0 0 0 0 0 90102 28676 61426 0 206990 8418 198572 5818231 DUE FROM AFFILIATES 135496 OTHER RECEIVABLES 267675 UNBILLED RECEIVABLE - AFFIL 8796 411967 0 DUE TO AFFILIATES 2619757 2619757 X Schedule D, Part X, Line 2 FIN 48 WAS ADOPTED IN FISCAL YEAR 2008. THERE IS NO FOOTNOTE DISCLOSURE IN SHS' FISCAL SEPTEMBER 30, 2024 CONSOLIDATED AUDITED FINANCIAL STATEMENTS SINCE THE ADOPTION OF FIN 48 WAS NOT MATERIAL. 1 1 0 0 0 0 0 0 0 KEITH HOVAN FORMER PRESIDENT & CEO 0 0 0 0 0 1615731 0 0 0 0 0 1615731 0 0 RAYFORD KRUGER MD PRESIDENT & CEO (UNTIL 1/2024) 0 1291999 0 0 0 9000 0 291000 0 19295 0 1611294 0 0 ILANA FEINERMAN MD TRUSTEE 0 610300 0 70000 0 908 0 19800 0 22551 0 723559 0 0 DAVID MCCREADY PRESIDENT & CEO (AS OF 1/2024) 0 296244 0 0 0 21245 0 45370 0 5913 0 368772 0 0 RENEE CLARK ASST CLERK/ EVP & COO SHG 0 740190 0 242200 0 138795 0 168243 0 23150 0 1312578 0 120300 WADE BROUGHMAN TREASURER/ EVP & CFO SHG 0 743502 0 242200 0 169412 0 19800 0 19295 0 1194209 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 LINE 4A: KEITH HOVAN RECEIVED A SEVERANCE PAYMENT OF $1,615,731 (NET OF WITHHOLDING) FROM RELATED ORGANIZATION SOUTHCOAST HOSPITALS GROUP, INC. LINE 4B: 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 $124,038, (2) WADE BROUGHMAN $148,443. Schedule J, Part I, Line 7 RELATED ORGANIZATION SHG - THE SOUTHCOAST HEALTH SYSTEM EXECUTIVE COMPENSATION PLAN (THE PLAN) ESTABLISHED 10/15/2008, AND UPDATED FROM TIME TO TIME, IS GOVERNED BY THE COMPENSATION COMMITTEE (THE COMMITTEE) OF THE BOARD OF TRUSTEES (BOARD) OF SOUTHCOAST HEALTH SYSTEM. THE PLAN OUTLINES GOALS, ADMINISTRATION, ELIGIBILITY, PARTICIPATION, PERFORMANCE MEASUREMENT, AND PLAN FUNDING. LUMP SUM CASH AWARDS ARE EARNED BY DESIGNATED EXECUTIVES AT SPECIFIC TARGET LEVELS BASED ON JOB LEVEL: BOTH AWARD AMOUNTS PAID AND ELIGIBILITY ARE DETERMINED SOLELY AT THE BOARD'S DISCRETION. THE PLAN REMAINS IN EFFECT AT THE DISCRETION AND JUDGEMENT OF THE COMMITTEE. 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. RENEE CLARK $120,300 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, 2024, AND 2023 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, 2024. NO STAND ALONE AUDITED FINANCIAL STATEMENTS WERE ISSUED FOR SCV FOR THE YEAR ENDED SEPTEMBER 30, 2024. 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 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, 2024, AND 2023 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, 2024. NO STAND ALONE AUDITED FINANCIAL STATEMENTS WERE ISSUED FOR SCV FOR THE YEAR ENDED SEPTEMBER 30, 2024. 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RENTAL MA SOUTHCOAST HEALTH SYSTEMS INC C 1 SAME DAY SURGICARE OF NE INC 272 STANLEY STREET FALL RIVER MA 02720 042808359 MEDICAL SERVICES MA SOUTHCOAST HEALTH SURGICAL HOLDINGS LLC S 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 SOUTHCOAST HOSPITALS GROUP INC j 78748 CASH FALL RIVER NEW BEDFORD REGIONAL MRI LP 700 CONGRESS ST STE 204 QUINCY MA 02169 043043884 MRI SERVICES MA Related 0 0 249002 1 0 0 0.093