Civic Intelligence

The Proton Therapy Center LLC

990 • Fiscal year 2013 • EIN 27-3064209

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

6450 Provision Cares WaySuite37909

(865) 862-1600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

95th percentile

1.11x

Higher debt load relative to assets than 95% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Liabilities / Revenue

100th percentile

234.93x

Higher debt load relative to revenue than 100% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Net Margin

1st percentile

-1377%

Higher net margin than 1% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Top Officer Pay

52nd percentile

$346,325

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 77.7% of source-year revenue.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2013

Asset Growth

95th percentile

44%

Faster asset growth than 95% of similar nonprofits.

2013 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Up

$94,726,673

Up $28,839,302 (+44%) from 2012

Net Assets

Down

-$10,017,231

Down $6,119,743 (-157%) from 2012

Liabilities

Up

$104,743,904

Up $34,959,045 (+50%) from 2012

Revenue

$445,843

No earlier filing loaded for comparison.

Expenses

Up

$6,586,993

Up $5,055,379 (+330%) from 2012

Net Income

-$6,141,150

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$100M$0-$100MAssets 2012: $65,887,371Liabilities 2012: $69,784,859Net Assets 2012: -$3,897,4882012Assets 2013: $94,726,673Liabilities 2013: $104,743,904Net Assets 2013: -$10,017,2312013Assets 2014: $110,848,624Liabilities 2014: $133,580,282Net Assets 2014: -$22,731,6582014Assets 2015: $111,743,470Liabilities 2015: $135,717,876Net Assets 2015: -$23,974,4062015Assets 2016: $106,522,373Liabilities 2016: $132,116,317Net Assets 2016: -$25,593,9442016Assets 2017: $103,951,258Liabilities 2017: $131,154,652Net Assets 2017: -$27,203,3942017Assets 2018: $99,282,153Liabilities 2018: $129,378,376Net Assets 2018: -$30,096,2232018Assets 2019: $95,713,271Liabilities 2019: $128,395,817Net Assets 2019: -$32,682,5462019Assets 2020: $90,724,481Liabilities 2020: $131,477,028Net Assets 2020: -$40,752,5472020Assets 2021: $87,350,051Liabilities 2021: $138,554,350Net Assets 2021: -$51,204,2992021Assets 2022: $23,729,500Liabilities 2022: $114,428,178Net Assets 2022: -$90,698,6782022Assets 2023: $22,103,901Liabilities 2023: $120,347,663Net Assets 2023: -$98,243,7622023Assets 2024: $19,033Liabilities 2024: $0Net Assets 2024: $19,0332024

Highlighted filing

2013

Assets$94,726,673
Liabilities$104,743,904
Net Assets-$10,017,231

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MExpenses 2012: $1,531,6142012Revenue 2013: $445,843Expenses 2013: $6,586,993Net Income 2013: -$6,141,1502013Revenue 2014: $15,407,290Expenses 2014: $28,121,717Net Income 2014: -$12,714,4272014Revenue 2015: $28,663,962Expenses 2015: $29,906,710Net Income 2015: -$1,242,7482015Revenue 2016: $28,473,127Expenses 2016: $30,092,665Net Income 2016: -$1,619,5382016Revenue 2017: $28,419,914Expenses 2017: $30,029,364Net Income 2017: -$1,609,4502017Revenue 2018: $27,541,772Expenses 2018: $30,434,601Net Income 2018: -$2,892,8292018Revenue 2019: $28,559,377Expenses 2019: $31,145,700Net Income 2019: -$2,586,3232019Revenue 2020: $22,840,271Expenses 2020: $30,910,272Net Income 2020: -$8,070,0012020Revenue 2021: $20,990,797Expenses 2021: $31,442,549Net Income 2021: -$10,451,7522021Revenue 2022: -$17,887,682Expenses 2022: $21,606,697Net Income 2022: -$39,494,3792022Revenue 2023: $0Expenses 2023: $7,545,084Net Income 2023: -$7,545,0842023Revenue 2024: $98,273,389Expenses 2024: $10,594Net Income 2024: $98,262,7952024

Highlighted filing

2013

Revenue$445,843
Expenses$6,586,993
Net Income-$6,141,150
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$524,782
Mission and Program Overview

Mission

The organization operates a proton therapy cancer treatment center in knoxville, tennessee and services a multistate area in the southeastern united states. Proton therapy is the cutting edge of radiation cancer treatment. It is an advanced form of radiation that allows for precision treatment that leaves surrounding tissue unharmed and reduces side effects.

The organization operates a proton therapy center in Knoxville, Tennessee and services a multistate area in the southeastern United States.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,826,299$88,051,164▲ $86,224,865
Intangible Assets$1,147,495$1,308,471▲ $160,976
Cash and Non-Interest-Bearing Accounts$68,331$173,313▲ $104,982
Accounts Receivable$264,236$67,160▼ $197,076
Prepaid Expenses and Deferred Charges$1,587$64,458▲ $62,871
Pd in Cap Srpls Land Bldg Eqp Fund$25,000$25,000→ $0
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-3,922,488$-10,042,231▼ $6,119,743
Total Assets$65,887,371$94,726,673▲ $28,839,302
Other Assets Total$62,579,423$5,062,107▼ $57,517,316
Liabilities
Tax Exempt Bond Liabilities$67,119,994$92,580,965▲ $25,460,971
Accounts Payable and Accrued Expenses$2,664,865$12,162,939▲ $9,498,074
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$69,784,859$104,743,904▲ $34,959,045
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,897,488$-10,017,231▼ $6,119,743
Total Liabilities and Net Assets / Fund Balance$65,887,371$94,726,673▲ $28,839,302

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$48,400,762$4,068$48,404,830
Buildings$37,824,103-$37,824,103
Land$1,826,299-$1,826,299
Other Assets Org$21,407--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Terry DouglassDirector/Chairman of the Board
Mary Lou DuBoisPresident
Bill HansenVice President
Joe MatteoVice President
Scott WarwickVice President
David MillhornDirector
Scott HamiltonDirector
Tracy DobbsDirector
Warren PayneDirector
Yves JongenDirector
Michael J SommiSecretary
Chris BrownTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Provision Health Partners LLCmanagement Services-$3,660,965
Provision Medical GroupPro. Medical Service-$440,861
Provision Healthcare LLCmanagement Services-$170,976
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$21,257
Investment Income
$0
Other Revenue
$424,586
Change in Net Assets
$-6,141,150
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,485,493
Grants and Similar Amounts Paid$101,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,852,918--$1,852,918
Advertising$1,442,126--$1,442,126
Fees for Services Management-$1,299,841-$1,299,841
Interest$512,210--$512,210
Occupancy$366,183--$366,183
Fees for Services Legal-$233,878-$233,878
Information Technology-$216,501-$216,501
Insurance-$121,337-$121,337
Depreciation Depletion$111,967--$111,967
Grants to Domestic Orgs$101,500--$101,500
Travel$82,235--$82,235
Office Expenses-$70,423-$70,423
Other Expenses$65,447--$65,447
Fees for Services Accounting-$24,601-$24,601
Conferences and Meetings$5,581--$5,581
Total Functional Expenses$4,620,412$1,966,581$0$6,586,993
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Provision Health Partners LLCAffilate of Board MemberEmployee Leasing & ManagementNo$3,660,965
Provision Healthcare LLCAffilate of Board MemberEmployee Leasing & ManagementNo$170,976

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
A62-11591732013-11-19$58,000,000Facility Construction and Equipmen
B62-12202752013-11-19$57,000,000Facility Construction and Equipmen

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$58,000,000$1,792,575$0$118,248
B$57,000,000$0$0$116,210

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes
Filing and Contact Details

Filer

EIN
27-3064209
In Care Of
% CHRIS BROWN
Phone
8658621600

Signing Officer

Name
Chris Brown
Title
Treasurer/CFO
Phone
8656842604
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Lou Dubois
Formed
2010
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
10

Preparer

Preparer
Bart A Granvold
Phone
8656842604
Supplemental Narrative

Additional Explanations

Schedule O - Line reference explanations

Part VI - Section A - Line 2 Two of the directors and one of the officers have a business relationship with each other. Director Douglass, Director Dobbs, and officer DuBois each own a greater than 10% interest in the same business. Part VI - Section A - Line 3 The organization has entered into a development and project management agreement with Provision Health Partners, LLC. The duties include oversight of the construction and development of the new property which will provide services to proton therapy patients. The organization has entered into a consulting services agreement with Provision Health partners, LLC. The duties include consulting services related to legal, financial, and accounting and administrative services in connection with the preparation for and commencement of operations at the new location. Director Douglass has received compensation indirectly through the management company. Director Douglass received $301,384. The officers received compensation from the management company. Officer Dubois received 312,525, Officer Brown received $318,249, Officer Sommi received $346,325, Officer Hansen Received $206,050, and officer Warwick received $226,187. Part VI - Section A - Line 6 The company is organized as a limited liability company and the members have voting rights under the operating agreement. A member may only be a qualified organization which qualifies for an exemption under 501(c)(3) of the internal revenue code. Part VI - Section A - Line 7a The members of the limited liability company have rights under the operating agreement to appoint members of the governing body and must approve the disposition of substantially all of the company's assets as well as any mergers or consolidations. Part VI - Section A - Line 8b The organization does not have any committees. Part VI - Section B - Line 11b A draft copy of the Form 990 is provided to all members of its governing body for review and comments before filing the return. Part VI Section B - Line 12C All directors and officers are required to disclose any conflicts of interest on an annual basis. All directors and officers of the company or any other person exercising governing powers over the company are considered to be an interested person with respect to the company. Each interested person is required to disclose any conflicts of interest on an annual basis. After each disclosure, the interested person removes himself or herself from the meeting and the remaining Board members discuss and vote on the conflict of interest determination, which is decided by a majority vote. If it is determined that a conflict of interest exists, the interested person may make a presentation to the Board regarding the transaction or arrangement then shall remove himself or herself from the meeting to allow the Board members to vote, with a majority vote deciding if a conflict exists. If the Board has reasonable cause to believe that a potential interested person has failed to disclose actual or possible financial interests, the board shall inform such person and allow such person an opportunity to explain the alleged failure to disclose. After hearing such person's explanation and after making any further investigation warranted by the circumstances, if the Board determines by majority vote, excluding the interested person, that such person has failed to disclose a financial interest, the board shall take appropriate disciplinary and corrective actions, which may include such person's removal from his or her position as a director or officer of the company.

Form 990 Part IX Line 11G

Description:professional medical services total fees:1852918

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt11Vice President
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IRS990/MissionDesc0THE ORGANIZATION OPERATES A PROTON THERAPY CANCER TREATMENT CENTER IN KNOXVILLE, TENNESSEE AND SERVICES A MULTISTATE AREA IN THE SOUTHEASTERN UNITED STATES. PROTON THERAPY IS THE CUTTING EDGE OF RADIATION CANCER TREATMENT. IT IS AN ADVANCED FORM OF RADIATION THAT ALLOWS FOR PRECISION TREATMENT THAT LEAVES SURROUNDING TISSUE UNHARMED AND REDUCES SIDE EFFECTS.
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IRS990/OtherExpensesGrp/Desc0LICENSES, PERMITS, FEES
IRS990/OtherExpensesGrp/Desc1TRAINING AND EDUCATION EXPENSE
IRS990/OtherExpensesGrp/Desc2DUES, BOOKS & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3MEDICAL SUPPLIES
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt064458
IRS990/PrincipalOfficerNm0Mary Lou Dubois
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PATIENT SERVICES
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IRS990/ReportOtherAssetsInd0true
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IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt021257
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt037824103
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01826299
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt221407
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1RESERVE FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INTEREST RATE SWAP AGREEMENT
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt05062107
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The board of directors approve the amounts of grants or assistance provided to other organizations. Grants or other assistance is provided to other organizations that are qualified for public charity status under the 501(c)3 of the Internal Revenue Code and that provide public benefits in missions and programs that provide support for public health and wellness.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I - part I - Line 2
IRS990ScheduleI/Total501c3OrgCnt01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt50

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