2020-08-14T09:56:31-05:00 2019-09-30 KPMG LLP 60 SOUTH STREET BOSTON MA 02111 990 2018-10-01 050259093 South County Hospital Healthcare System Endowment % MARCIA POLHEMUS SOUT 4017828000 100 KENYON AVENUE WAKEFIELD RI 028794299 THOMAS J BREEN CFO 4017881974 2020-08-13 true MARY HANINK P01244578 6179881000 2020-08-12 199.206.0.5 06014420202275000006 2020-08-14 P 8001E3F5C0B281282B875A3F3B370410C27F5604 0FE6547678D73A32AB99C8D6CFA61E5F3D690727 2018 2020-09-23 17:36:50Z THOMAS J BREEN 100 KENYON AVENUE WAKEFIELD RI 028794299 8216245 false X WWW.SOUTHCOUNTYHEALTH.ORG X 1989 RI PLANNING, MANAGEMENT & FUNDRAISING FOR SOUTH COUNTY HEALTHCARE HOSPITAL SYSTEM. 17 15 0 16 0 0 6479069 2307783 0 0 691755 848591 52645 41426 7223469 3197800 0 0 0 0 640136 689164 0 0 0 241927 319375 882063 1008539 6341406 2189261 36424517 36679766 754813 404977 35669704 36274789 PLANNING, FUNDRAISING, AND MANAGEMENT ACTIVITIES TO SUPPORT THE MISSION OF SOUTH COUNTY HOSPITAL AND SOUTH COUNTY HOME HEALTH (F/K/A VNS HOMECARE, INC.) false false 588791 DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2019, 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 PERSONS 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 TO PROMOTE THE HOSPITAL SYSTEM TO THE COMMUNITY. 22361 DURING THE FISCAL YEAR ENDED SEPTERMBER 30, 2019, SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT CONTINUED ITS CAPITAL CAMPAIGN TO RAISE MONEY FOR A CANCER CENTER. THE SYSTEM RECOGNIZED THIS AS A NEED FOR THE COMMUNITY AND THE GOAL IS FOR THE CAPITAL CAMPAIGN TO ALLOW THE SYSTEM TO BUILD A CANCER CENTER WITHOUT USING ITS OPERATING CASH AND INVESTMENTS. AS OF SEPTEMBER 30, 2019, THE SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT HAS RAISED APPROXIMATELY $6,602,640 WHICH IS OVER ITS $6,500,000 GOAL. 611152 true true false false false false false false false true true true false false true true false true false false false false false false true false false false false true false false false true false false false false true false false false false true true true false false true 15 0 true 0 false false false false false true true false false false false false false X 17 15 false false false false false false false true true false false true true true true true true true false false RI X MARCIA POLHEMUS 4017828000 100 KENYON AVENUE WAKEFIELD RI 028794299 TED ALMON TRUSTEE 1.0 2.0 X 0 0 0 ROBERT BEAGLE TRUSTEE 1.0 2.0 X 0 0 0 STEPHANIE CHAFEE RN MBA TRUSTEE UNTIL 4/2019 1.0 2.0 X 0 0 0 ROBERT DYER TRUSTEE 1.0 2.0 X 0 0 0 ELEANOR C FERGUSON TRUSTEE 1.0 2.0 X 0 0 0 JOHN H HOWLAND TRUSTEE 1.0 2.0 X 0 0 0 ROGEAN MAKOWSKI TRUSTEE AS OF 5/2019 1.0 2.0 X 0 0 0 JASON MARSHALL TRUSTEE 1.0 2.0 X 0 0 0 ROBERT PANOFF TRUSTEE UNTIL 4/2019 1.0 2.0 X 0 0 0 DAVID ROWE MD TRUSTEE 1.0 2.0 X 0 0 0 RICHARD DEL SESTO MD TRUSTEE 1.0 2.0 X 0 4800 0 AUSTIN C SMITH TRUSTEE 1.0 2.0 X 0 0 0 DONNA D VANDERBECK TRUSTEE 1.0 2.0 X 0 0 0 SALVATORE ABBRUZZESE JR DO PRES OF THE MED STAFF 1.0 41.0 X 0 285408 29316 AARON WEISBORD MD PRES MED STAFF UNTIL 10/2018 1.0 41.0 X 0 445327 29678 DENNIS LYNCH CHAIRMAN 1.0 2.0 X X 0 0 0 JAMES FARRELL VICE CHAIRMAN 1.0 2.0 X X 0 0 0 BETTY RAMBUR PHD SECRETARY 1.0 2.0 X X 0 0 0 VICTORIA A WICKS TREASURER 1.0 2.0 X X 0 0 0 NAVEH LEVY MD VP OF MED STAFF AS OF 10/2018 1.0 2.0 X 0 5599 0 LOUIS R GIANCOLA PRESIDENT AND CEO UNTIL 4/2019 1.0 41.0 X 0 446696 26533 AARON ROBINSON PRESIDENT AND CEO AS OF 4/2019 1.0 41.0 X 0 0 0 THOMAS J BREEN CHIEF FINANCIAL OFFICER 2.0 41.0 X 0 400403 25770 LISA RAMEAKA FORMER DIRECTOR 0.0 40.0 X 0 343228 29176 KATHLEEN CASSIN MD FORMER TRUSTEE/PHYSICIAN 0.0 40.0 X 0 215233 16243 WILLIAM SABINA MD FACEP FORMER PRES OF MED STAFF 1.0 11.0 X 0 35000 0 0 2181694 156716 0 true true false NONE 0 547778 1760005 28367 2307783 0 330456 330456 0 0 0 0 0 5302136 4784001 518135 518135 518135 185416 547778 185416 0 0 0 0 0 90454 49028 41426 41426 0 3197800 890017 0 0 0 0 0 0 0 601177 329667 271510 0 87987 75823 12164 0 0 10500 10500 23050 23050 0 0 50666 50666 100586 100586 5000 5000 33392 33392 0 0 0 434 434 0 3957 3957 0 0 2373 2373 28832 28832 FUND ACTIVITY 3420 3420 CULTIVATION EVENTS 27616 27616 CREDIT CARD FEES 13134 13134 BANK SERVICE CHARGE 3936 3936 12479 11814 665 1008539 611152 397387 0 10457 352820 811291 205489 0 0 261074 140706 0 0 0 0 0 0 0 0 0 22225 562546 557506 7413 5040 13071122 13347123 22263160 22606363 0 0 0 0 0 0 36424517 36679766 4344 132936 0 0 0 0 0 0 0 0 0 0 0 0 0 0 750469 272041 754813 404977 X 26417379 27104966 1381219 1533595 7871106 7636228 35669704 36274789 36424517 36679766 X 2189261 -65716 -1518460 X false true X true false X 4810042 2612615 3047601 6479069 2307783 19257110 0 0 4810042 2612615 3047601 6479069 2307783 19257110 4078976 15178134 557531 282860 840816 456339 330456 2468002 10200 10200 6935 37444 48830 42445 41426 177080 21912392 0.69267 0.71230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34194542 20126 330588 3812 34541444 29000372 4001736 1229738 37304 34194542 26091622 85454 2891164 67868 29000372 24740903 1359465 1000 7746 26091622 26008203 -1093929 3000 170371 24740903 0.77390 0.22110 0.00500 true false 562546 557506 5040 5040 ENDOWMENT POOLED INVESTMENTS 13384338 F ASSETS HELD IN TRUST 7789183 F DONOR RESTRICTED FUNDS 1432842 F 22606363 0 GIFT ANNUITY 192908 DUE TO AFFILIATES 79133 272041 X 1797402 -65716 -475317 -541033 2338435 50666 808699 859365 3197800 1192317 1192317 50666 -234444 -183778 1008539 PART V, LINE 2 SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE SEPTEMBER 30, 2019 AUDITED FINANCIAL STATEMENTS CLASSIFY THE NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, SOUTH COUNTY HOME HEALTH HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT, RESPECTIVELY. PART V, LINE 4 THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED TO SUPPORT THE SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM AND ARE 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 HEALTHCARE SYSTEM ENDOWMENT, SOUTH COUNTY HOSPITAL AND SOUTH COUNTY HOME HEALTH) 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. THE TAX PROVISIONS AND RELATED LIABILITIES FOR SILVER SPRING HEALTH CARE MANAGEMENT WHICH IS A TAXABLE ENTITY WHICH IS 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 JUDGMENT OCCURS. THE HOSPITAL DID NOT RECOGNIZE THE EFFECT OF ANY INCOME TAX POSITIONS IN EITHER 2019 OR 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS UNREALIZED CHANGE IN EQUITY INTERESTS IN LP (155,436) CHANGE IN VALUE OF PERPETUAL AND CHARITABLE REMAINDER TRUST (234,881) NET ASSETS RELEASED FOR CAPITAL EXPENDITURES (85,000) ---------- TOTAL TO SCHEDULE D, PART XI, LINE 2D (475,317) PART XI, LINE 4B - OTHER ADJUSTMENTS TRANSFER TO UNRESTRICTED FUND EXPENDITURES 1,043,143 FUNDRAISING EXPENSES (185,416) COST OF GOODS SOLD (49,028) ---------- TOTAL TO SCHEDULE D, PART XI, LINE 4B 808,699 PART XII, LINE 4B - OTHER ADJUSTMENTS FUNDRAISING EXPENSES (185,416) COST OF GOODS SOLD (49,028) -------- TOTAL TO SCHEDULE D, PART XII, LINE 4B (234,444) 2019 GALA 509499 398545 110954 59305 51650 2019 INVITATION 112220 80252 31968 2713 28100 1155 3 111475 68981 42494 11006 31487 733194 547778 185416 2713 98411 84292 185416 false false false false false false false false false SALVATORE ABBRUZZESE JR DO PRES OF THE MED STAFF 0 273262 0 10995 0 1151 0 9625 0 19691 0 314724 0 0 AARON WEISBORD MD PRES MED STAFF UNTIL 10/2018 0 229828 0 215248 0 251 0 9625 0 20053 0 475005 0 0 LOUIS R GIANCOLA PRESIDENT AND CEO UNTIL 4/2019 0 434126 0 0 0 12570 0 9625 0 16908 0 473229 0 0 THOMAS J BREEN CHIEF FINANCIAL OFFICER 0 397430 0 0 0 2973 0 9625 0 16145 0 426173 0 0 LISA RAMEAKA FORMER DIRECTOR 0 342684 0 0 0 544 0 9625 0 19551 0 372404 0 0 KATHLEEN CASSIN MD FORMER TRUSTEE/PHYSICIAN 0 168897 0 45306 0 1030 0 7560 0 8683 0 231476 0 0 WILLIAM SABINA MD FACEP FORMER PRES OF MED STAFF 35000 35000 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. LISA RAMEAKA PHYSICIAN MIDWIFE PRACTICE PUR X 38115 45070 true false true 45070 X 12 28367 FAIR MARKET VALUE false true false PART I, COLUMN (B) THE AMOUNT REPORTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. 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. THE SALARIES AND EMPLOYEE BENEFITS REPORTED IN PART VII & PART IX ARE REIMBURSED BY THE ENDOWMENT TO SOUTH COUNTY HOSPITAL. FORM 990, PART VI, SECTION B, LINE 11 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. ALL ENTITIES HAVE MIRROR BOARDS. 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 EXISTS. 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 THE ORGANIZATION'S CEO'S COMPENSATION IS DETERMINED BY THE GOVERNING BODY. THE CEO'S SALARY IS COMPARED TO OTHER CEO'S SALARIES OF SIMILAR ORGANIZATIONS. IN DETERMINING COMPENSATION THE ORGANIZATION USES FORM 990 OF OTHER ORGANIZATIONS AND A COMPENSATION SURVEY. THE REVIEW IS DONE BY INDEPENDENT INDIVIDUALS OF THE GOVERNING BODY AND ALL DISCUSSIONS ARE CONTEMPORANEOUSLY DOCUMENTED. 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 LIMITED PARTNERSHIPS (155,436) NET ASSETS RELEASED FOR CAPITAL EXPENDITURES (85,000) CHANGE IN VALUE OF PERPETUAL AND CHARITABLE REMAINDER TRUST (234,881) TRANSFER TO UNRESTRICTED FUND EXPENDITURES (1,043,143) ----------- TOTAL TO FORM 990, PART XI, LINE 9 (1,283,579) FORM 990, PART X, LINES 27, 28, AND 29 SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM ENDOWMENT HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE SEPTEMBER 30, 2019 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS, OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF FORM 990, PART X, LINES 27, 28, AND 29, SOUTH COUNTY HOME HEALTH HAS REPORTED NET ASSETS WITHOUT DONOR RESTRICTIONS AS UNRESTRICTED NET ASSETS AND NET ASSETS WITH DONOR RESTRICTIONS AS PERMANENTLY RESTRICTED NET ASSETS AND TEMPORARILY RESTRICTED NET ASSETS, RESPECTIVELY. FORM 990, PART XII, LINE 2C FINANCIAL STATEMENTS AND REPORTING THE ORGANIZATION'S AUDIT COMMITTEE IS RESPONSIBLE FOR SELECTING AN INDEPENDENT ACCOUNTANT TO AUDIT THE ORGANIZATION'S FINANCIAL STATEMENTS AND FOR OVERSEEING THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS. SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM 100 KENYON AVENUE WAKEFIELD RI 02879 050445136 HOSPITAL RI 501(C)(3) 3 SCH ENDOWMNT true SOUTH COUNTY HOME HEALTH 14 WOODRUFF AVENUE WAKEFIELD RI 02879 056033975 HEALTHCARE RI 501(C)(3) 10 SC HOSPITAL true SILVER SPRING HEALTH CARE MANAGEMENT 100 KENYON AVENUE WAKEFIELD RI 02879 050459095 HOLDING COMPA RI SCH HEALTHCARE C CORP -1350 361723 1.00000 true SOUTH COUNTY QUALITY CARE 100 KENYON AVENUE WAKEFIELD RI 02879 050491313 PERSONAL CARE RI SSHC MANAGEMENT C CORP 0 43858 1.00000 true SSHM SURGICAL SUPPLY INC 100 KENYON AVENUE WAKEFIELD RI 02879 050478937 MEDICAL EQUIP RI SSHC MANAGEMENT C CORP -116288 678047 1.00000 true CHARITABLE REMAINDER TRUSTS (3) N/A false true false false false false false false false false false true false true true true false false false SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM B 1128143 FMV SOUTH COUNTY HOSPITAL HEALTHCARE SYSTEM O 907790 FMV