Civic Intelligence

Beebe Physician Network Inc

990 • Fiscal year 2016 • EIN 52-2011066

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

PO Box 760Lewes, DE 19958

(302) 644-3555

Siviq Scores

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

Liabilities / Assets

100th percentile

33.25x

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

94th percentile

5.08x

Higher debt load relative to revenue than 94% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

3rd percentile

-96%

Higher net margin than 3% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

94th percentile

$771,709

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

7th percentile

-12%

Faster asset growth than 7% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

90th percentile

46%

Faster revenue growth than 90% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Assets

Down

$3,660,363

Down $507,538 (-12%) from 2015

Net Assets

Down

-$118,055,438

Down $22,946,979 (-24%) from 2015

Liabilities

Up

$121,715,801

Up $22,439,441 (+23%) from 2015

Revenue

Up

$23,978,075

Up $7,565,399 (+46%) from 2015

Expenses

Up

$46,925,054

Up $12,016,686 (+34%) from 2015

Net Income

Down

-$22,946,979

Down $4,451,287 (-24%) from 2015

Historical Trend

Balance Sheet Trend

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

$400M$200M$0-$200M-$400MAssets 2010: $2,403,671Liabilities 2010: $29,436,362Net Assets 2010: -$27,032,6912010Assets 2011: $2,621,309Liabilities 2011: $37,048,171Net Assets 2011: -$34,426,8622011Assets 2012: $2,904,627Liabilities 2012: $47,781,034Net Assets 2012: -$44,876,4072012Assets 2013: $2,420,764Liabilities 2013: $59,693,629Net Assets 2013: -$57,272,8652013Assets 2014: $3,509,108Liabilities 2014: $80,121,875Net Assets 2014: -$76,612,7672014Assets 2015: $4,167,901Liabilities 2015: $99,276,360Net Assets 2015: -$95,108,4592015Assets 2016: $3,660,363Liabilities 2016: $121,715,801Net Assets 2016: -$118,055,4382016Assets 2017: $4,884,863Liabilities 2017: $146,536,341Net Assets 2017: -$141,651,4782017Assets 2018: $6,350,628Liabilities 2018: $172,156,607Net Assets 2018: -$165,805,9792018Assets 2019: $11,796,616Liabilities 2019: $205,470,514Net Assets 2019: -$193,673,8982019Assets 2020: $17,808,157Liabilities 2020: $240,449,257Net Assets 2020: -$222,641,1002020Assets 2021: $13,499,418Liabilities 2021: $268,247,598Net Assets 2021: -$254,748,1802021Assets 2022: $19,418,937Liabilities 2022: $305,673,343Net Assets 2022: -$286,254,4062022Assets 2023: $16,605,238Liabilities 2023: $338,014,983Net Assets 2023: -$321,409,7452023Assets 2024: $23,872,049Liabilities 2024: $384,315,258Net Assets 2024: -$360,443,2092024

Highlighted filing

2016

Assets$3,660,363
Liabilities$121,715,801
Net Assets-$118,055,438

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $14,324,5412010Expenses 2011: $14,987,3042011Expenses 2012: $19,382,6692012Expenses 2013: $22,239,1132013Revenue 2014: $12,455,603Expenses 2014: $31,795,505Net Income 2014: -$19,339,9022014Revenue 2015: $16,412,676Expenses 2015: $34,908,368Net Income 2015: -$18,495,6922015Revenue 2016: $23,978,075Expenses 2016: $46,925,054Net Income 2016: -$22,946,9792016Revenue 2017: $27,654,479Expenses 2017: $51,250,519Net Income 2017: -$23,596,0402017Revenue 2018: $37,333,500Expenses 2018: $61,488,001Net Income 2018: -$24,154,5012018Revenue 2019: $42,849,999Expenses 2019: $70,717,918Net Income 2019: -$27,867,9192019Revenue 2020: $45,230,015Expenses 2020: $74,197,217Net Income 2020: -$28,967,2022020Revenue 2021: $49,763,714Expenses 2021: $81,870,794Net Income 2021: -$32,107,0802021Revenue 2022: $57,619,619Expenses 2022: $89,125,845Net Income 2022: -$31,506,2262022Revenue 2023: $63,011,517Expenses 2023: $98,166,855Net Income 2023: -$35,155,3382023Revenue 2024: $62,212,184Expenses 2024: $101,245,648Net Income 2024: -$39,033,4642024

Highlighted filing

2016

Revenue$23,978,075
Expenses$46,925,054
Net Income-$22,946,979
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$23,978,075
Mission and Program Overview

Mission

Beebe physician network (bpn) is a community healthcare provider that provides essential physician services in eastern sussex county, a physician under-served area since 1976.

BEEBE Physician Network is a community healthcare provider that provides essential physician services in eastern sussex county, a physican under-served area since 1976.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,378,464$2,169,974▼ $208,490
Accounts Receivable$989,305$920,291▼ $69,014
Cash and Non-Interest-Bearing Accounts$738,977$522,465▼ $216,512
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
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$4,167,901$3,660,363▼ $507,538
Other Assets Total$61,155$47,633▼ $13,522
Liabilities
Other Liabilities$95,543,214$117,406,669▲ $21,863,455
Accounts Payable and Accrued Expenses$3,733,146$4,309,132▲ $575,986
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$99,276,360$121,715,801▲ $22,439,441
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-95,108,459$-118,055,438▼ $22,946,979
Total Net Assets Fund Balance$-95,108,459$-118,055,438▼ $22,946,979
Total Liabilities and Net Assets / Fund Balance$4,167,901$3,660,363▼ $507,538

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,534,086$1,291,059$2,825,145
Leasehold Improvements$635,081$363,232$998,313
Buildings$807$143$950
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel Cuozzo DoCHAIRPERSON/PhysicianFT$632,358$39,804$672,162
Borislav Antonov MdPhysicianFT$596,268$58,109$654,377
Mwazhuwa R Kuretu MdPhysicianFT$471,263$129,926$601,189
Nnamdi Azie MdPhysicianFT$495,163$57,126$552,289
Justin Elder DoPhysicianFT$467,414$36,866$504,280
Ercilia E Arias MdDIRECTOR/PhysicianFT$444,634$44,876$489,510
Paolo Peghini MdPhysicianFT$395,163$68,335$463,498
Robert C Deckmann MdDIRECTOR/PhysicianFT$395,746$52,867$448,613
James E Spellman Jr MdDIRECTOR/PhysicianFT$343,157$67,189$410,346
George Kluchnik MdDIRECTOR/PhysicianFT$323,058$47,643$370,701
Julie a Holmon MdVICE CHAIRPERSON/PhysicianFT$271,823$47,046$318,869
Maria V Haldar MdDIRECTOR/PhysicianFT$176,725$33,416$210,141
George V Jirak MdSecretary/president/CEOFT$166,408$9,832$176,240
Debbie CraftFMR SECRETARY/PRESIDENT/CFO-$26,923-$26,923

Board Members and Trustees

NameTitle
Anis K Saliba MdDirector
David a HerbertDirector
Frank CzewinskiDirector
Paul T Cowan Jr MdDirector
Jeffrey M Fried FacheDirector/bmc CEO
Paul J Pernice CPATreasurer/bmc CFO

Highest Paid Contractors

ContractorServicesLocationCompensation
Athenahealth INCBilling ServicesPO BOX 415615, Boston, ME 02241-5615$1,518,401
ComphealthLocum TenensPO BOX 972651, Dallas, TX 75397-2651$415,439
Coker ConsultingConsulting2400 LAKEVIEW PARKWAY 400 SUITE 3, Alpharetta, GA 30009$296,723
Blue Shore INCCLEANING SERVICEsPO BOX 682, Burtonsville, MD 20866$224,317
Medpartners Locum Tenens INCLocum TenensPO BOX 4729, Winter Park, FL 32793$155,727
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$23,978,075
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-22,946,979
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$37,781,718
Other Expenses$9,143,336
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$27,321,118$1,056,066-$28,377,184
Other Employee Benefits$4,256,334$293,554-$4,549,888
Fees for Services Other$2,839,709$709,006-$3,548,715
Current Officers, Directors, Trustees, and Key Employees$2,461,759$352,539-$2,814,298
Office Expenses$2,552,185$118,024-$2,670,209
Payroll Taxes$1,457,447$92,493-$1,549,940
Occupancy$1,504,103$43,545-$1,547,648
Pension Plan Contributions$372,439$117,969-$490,408
Depreciation Depletion$251,445$237,262-$488,707
Insurance$229,900--$229,900
Conferences and Meetings$167,849$8,141-$175,990
Information Technology$97,143$72,716-$169,859
Other Expenses$43,879$57$0$0
Fees for Services Legal$630$20,603-$21,233
Travel$11,010$7,616-$18,626
Fees for Services Accounting$7,200$6,036-$13,236
All Other Expenses$804$9,282-$10,086
Advertising$9,425$223-$9,648
Total Functional Expenses$43,769,872$3,155,182$0$46,925,054
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
Subject to proxy tax
No
Insider Transactions and Loans

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

Other Reported Liabilities

LiabilityAmount
Due to Parent Company$117,406,669
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, LINE 6:

Beebe medical center is the sole member of beebe physician network.

FORM 990, PART VI, LINE 7A:

THE BOARD OF DIRECTORS OF BEEBE Medical Center APPROVES THE DECISIONS OF THE BOARD OF DIRECTORS OF BEEBE PHYSICIAN NETWORK. FORM 990, PART VI, LINE 7B: THE BOARD OF DIRECTORS OF BEEBE MEDICAL CENTER APPROVES THE DECISIONS OF THE BOARD OF DIRECTORS OF BEEBE PHYSICIAN NETWORK.

FORM 990, PART VI, LINE 11B:

The form 990 is reviewed internally by management of Beebe Medical Center, Inc. the return is reviewed by a third party accounting firm, Grant Thornton LLP. A copy of the Form 990 was provided to the governing body before it was filed.

FORM 990, PART VI, LINE 12C:

BEEBE Physician ADOPTED THE FORMAL WRITTEN CONFLICT OF INTEREST POLICY OF BEEBE MEDICAL CENTER, INC. CONFLICT OF INTEREST STATEMENTS ARE REQUIRED ANNUALLY FOR ALL BOARD MEMBERS, EXECUTIVES AND ALL MANAGEMENT TEAM MEMBERS. NON-MANAGEMENT TEAM MEMBERS ARE REQUIRED TO SUBMIT A CONFLICT OF INTEREST STATEMENT UPON HIRE. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED BY THE BOARD and audit committee FOR THE EXISTENCES OF ANY ADVERSE INTEREST.

FORM 990, PART VI, LINE 15A AND 15B:

FOR COMPENSATION PAID BY BEEBE PHYSICIAN NETWORK, INC., SALARIES ARE CONSISTENT WITH CURRENT MGMA DATA. FOR THOSE OFFICERS COMPENSATED BY BEEBE MEDICAL CENTER, A RELATED ORGANIZATION, THE EXECUTIVE COMMITTEE OF THE BOARD OF Directors GOVERNS AND CONTROLS EXECUTIVE COMPENSATION. PAY IS DETERMINED BY COMPARING TO OTHER TAX-EXEMPT HEALTH SYSTEMS SIMILAR TO BEEBE MEDICAL CENTER IN SIZE AND COMPLEXITY LOCATED REGIONALLY AND THROUGHOUT THE UNITED STATES. PAY IS POSITIONED AT THE 50TH PERCENTILE OF BEEBE MEDICAL CENTER'S PEER GROUP. THE EXECUTIVE COMMITTEE UTILIZES A CONSULTANT FOR EXECUTIVE COMPENSATION ADVICE. MINUTES OF MEETINGS ARE MAINTAINED TO DOCUMENT DELIBERATION AND DECISIONS.

FORM 990, PART VI, LINE 19:

THE ORGANIZATION MAKES ITS ORGANIZING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE FOLLOWING ATTENTION AND ADDRESS: BEEBE PHYSICIAN NETWORK, INC., 1515 Savannah Road, LEWES, DE 19958, ATTN: JONATHAN COOK, Vice President of Operations.

Filing and Contact Details

Filer

Filer Name
Beebe Physician Network Inc
EIN
52-2011066
In Care Of
% STACY L ISAACS
Phone
3026443555
Address
PO BOX 760, Lewes, DE 19958
Doing Business As
Beebe Medical Group

Signing Officer

Name
Paul Pernie
Title
Treasurer
Phone
3026443555
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Cuozzo Md
Formed
1997
Legal Domicile
De
Voting Board Members
14
Independent Board Members
4
Employees
315
Volunteers
1

Preparer

Firm
Grant Thornton Llp
Address
2001 MARKET STREET SUITE 700, PHILADELPHIA, PA 19103
Preparer
Alycia Mecchella
Phone
2155614200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

Beebe physician network operates a physician network which assists in meeting the health needs and goals of all persons in its service area without discrimination, as an integral part of the community of sussex county.

Financial Statement Notes

Fin 48 (ASC 740)

The System follows the accounting guidance for uncertainties in income tax positions which requires that a tax position be recognized or derecognized based on a more likely than not threshold. This applies to positions taken or expected to be taken in a tax return. The System does not believe its consolidated financial statements include any material uncertain tax positions. At June 30, 2016, the Systems tax years ended June 30, 2013 through 2016 for the federal tax jurisdiction remain open.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$23.9$384$360$62.2$101$39.0
2023Detailed filing. Detailed filing data is available for this year.$16.6$338$321$63.0$98.2$35.2
2022Detailed filing. Detailed filing data is available for this year.$19.4$306$286$57.6$89.1$31.5
2021Detailed filing. Detailed filing data is available for this year.$13.5$268$255$49.8$81.9$32.1
2020Detailed filing. Detailed filing data is available for this year.$17.8$240$223$45.2$74.2$29.0
2019Detailed filing. Detailed filing data is available for this year.$11.8$205$194$42.8$70.7$27.9
2018Detailed filing. Detailed filing data is available for this year.$6.35$172$166$37.3$61.5$24.2
2017Detailed filing. Detailed filing data is available for this year.$4.88$147$142$27.7$51.3$23.6
2016Detailed filing. Detailed filing data is available for this year.$3.66$122$118$24.0$46.9$22.9
2015Detailed filing. Detailed filing data is available for this year.$4.17$99.3$95.1$16.4$34.9$18.5
2014Detailed filing. Detailed filing data is available for this year.$3.51$80.1$76.6$12.5$31.8$19.3
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.42$59.7$57.3$22.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.90$47.8$44.9$19.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$37.0$34.4$15.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$29.4$27.0$14.3