Civic Intelligence

Ty Cobb Healthcare System Inc

990 • Fiscal year 2014 • EIN 58-0633978

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 02, 2016

PO Box 9Franklin Springs, GA 30639

(706) 245-7272

Siviq Scores

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

Liabilities / Assets

81st percentile

0.72x

Higher debt load relative to assets than 81% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

50th percentile

0.45x

Higher debt load relative to revenue than 50% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

11th percentile

-10%

Higher net margin than 11% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

37th percentile

$260,090

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

1st percentile

-55%

Faster asset growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

13th percentile

-13%

Faster revenue growth than 13% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$27,252,746

Down $33,619,739 (-55%) from 2013

Net Assets

Down

$7,550,434

Down $8,778,666 (-54%) from 2013

Liabilities

Down

$19,702,312

Down $24,841,073 (-56%) from 2013

Revenue

Down

$43,919,272

Down $6,769,547 (-13%) from 2013

Expenses

Down

$48,425,605

Down $11,318,175 (-19%) from 2013

Net Income

Up

-$4,506,333

Up $4,548,628 (+50%) from 2013

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $64,051,128Liabilities 2010: $30,910,717Net Assets 2010: $33,140,4112010Assets 2011: $62,646,905Liabilities 2011: $32,048,891Net Assets 2011: $30,598,0142011Assets 2012: $67,648,351Liabilities 2012: $39,572,716Net Assets 2012: $28,075,6352012Assets 2013: $60,872,485Liabilities 2013: $44,543,385Net Assets 2013: $16,329,1002013Assets 2014: $27,252,746Liabilities 2014: $19,702,312Net Assets 2014: $7,550,4342014Assets 2015: $10,729,263Liabilities 2015: $2,986,868Net Assets 2015: $7,742,3952015Assets 2016: $5,162,632Liabilities 2016: $1,425,577Net Assets 2016: $3,737,0552016Assets 2017: $4,123,333Liabilities 2017: $781,159Net Assets 2017: $3,342,1742017Assets 2018: $3,266,035Liabilities 2018: $94,738Net Assets 2018: $3,171,2972018Assets 2019: $3,115,515Liabilities 2019: $120,498Net Assets 2019: $2,995,0172019Assets 2020: $3,064,517Liabilities 2020: $123,001Net Assets 2020: $2,941,5162020Assets 2021: $3,309,363Liabilities 2021: $180,103Net Assets 2021: $3,129,2602021Assets 2022: $2,718,647Liabilities 2022: $123,051Net Assets 2022: $2,595,5962022Assets 2023: $3,049,625Liabilities 2023: $85,294Net Assets 2023: $2,964,3312023Assets 2024: $3,622,099Liabilities 2024: $447,128Net Assets 2024: $3,174,9712024

Highlighted filing

2014

Assets$27,252,746
Liabilities$19,702,312
Net Assets$7,550,434

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $39,939,4472010Expenses 2011: $40,810,7732011Expenses 2012: $57,293,1922012Revenue 2013: $50,688,819Expenses 2013: $59,743,780Net Income 2013: -$9,054,9612013Revenue 2014: $43,919,272Expenses 2014: $48,425,605Net Income 2014: -$4,506,3332014Revenue 2015: $22,991,744Expenses 2015: $23,838,542Net Income 2015: -$846,7982015Revenue 2016: $2,282,874Expenses 2016: $2,393,225Net Income 2016: -$110,3512016Revenue 2017: $2,359,059Expenses 2017: $2,142,642Net Income 2017: $216,4172017Revenue 2018: $2,303,995Expenses 2018: $2,385,845Net Income 2018: -$81,8502018Revenue 2019: $2,241,771Expenses 2019: $2,424,921Net Income 2019: -$183,1502019Revenue 2020: $2,585,466Expenses 2020: $2,638,967Net Income 2020: -$53,5012020Revenue 2021: $2,527,885Expenses 2021: $2,340,140Net Income 2021: $187,7452021Revenue 2022: $2,334,802Expenses 2022: $2,868,466Net Income 2022: -$533,6642022Revenue 2023: $3,153,209Expenses 2023: $2,957,130Net Income 2023: $196,0792023Revenue 2024: $7,269,528Expenses 2024: $6,968,250Net Income 2024: $301,2782024

Highlighted filing

2014

Revenue$43,919,272
Expenses$48,425,605
Net Income-$4,506,333
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 2, 2016
Return Version
2014v6.0
Gross Receipts
$55,053,243
Mission and Program Overview

Mission

To continuously improve the quality of primary care, long-term care and home care within our resource capabilities and to promote healthier lifestyles through education consistend with individual and community needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$15,029,160--
Land, Buildings, and Equipment, Net$25,168,957$13,553,917▼ $11,615,040
Other Notes and Loans Receivable, Net$3,188,580--
Accounts Receivable$4,334,868$3,033,140▼ $1,301,728
Investments Program Related$782,210$1,396,586▲ $614,376
Cash and Non-Interest-Bearing Accounts$5,266,063$1,165,066▼ $4,100,997
Inventories for Sale or Use$1,798,284$1,114,146▼ $684,138
Prepaid Expenses and Deferred Charges$317,704$1,027,152▲ $709,448
Intangible Assets$677,277--
Investments Other Securities$2,020,380$415,360▼ $1,605,020
Savings and Temporary Cash Investments$855,285$190,000▼ $665,285
Total Assets$60,872,485$27,252,746▼ $33,619,739
Other Assets Total$1,433,717$5,357,379▲ $3,923,662
Liabilities
Other Liabilities$1,395,757$6,913,093▲ $5,517,336
Accounts Payable and Accrued Expenses$9,526,789$6,311,688▼ $3,215,101
Mortgage Notes Payable Secured by Investment Property$33,620,839$3,404,117▼ $30,216,722
Deferred Revenue-$3,073,414-
Total Liabilities$44,543,385$19,702,312▼ $24,841,073
Net Assets / Fund Balance
Unrestricted Net Assets$16,329,100$7,550,434▼ $8,778,666
Total Net Assets Fund Balance$16,329,100$7,550,434▼ $8,778,666
Total Liabilities and Net Assets / Fund Balance$60,872,485$27,252,746▼ $33,619,739

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,330,141$4,715,813$11,045,954
Buildings$6,103,260$1,956,861$8,060,121
Land$1,120,516-$1,120,516
Investment Program Related Org$1,396,586--
Other Assets Org$124,408--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James Bauerband MdPhysicianFT$220,944$39,146$260,090
Gregory HearnCEOFT$202,676$27,036$229,712
Donna ToneyDirector ofFT$122,677$25,658$148,335
Jennifer DickersonPharmacistFT$100,721$33,006$133,727
Evelyn MurphyChief ClinicFT$117,007$14,956$131,963
Angela HarpoldPharmacistFT$110,846$5,505$116,351
Angela R HooperDirector ofFT$109,688$1,898$111,586
Lauren PapkaAdministratoFT$70,689$35,905$106,594
Matt R McreeCFOFT$87,565$16,339$103,904
Timothy VickeryChief InformFT$98,615$3,307$101,922
Harris LittleVice Chair-$10,800-$10,800
Don JohnsonBoard Member-$9,600-$9,600
Fort OglesbyBoard Chair-$7,000-$7,000
Deborah HarbinBoard Member-$4,000-$4,000

Board Members and Trustees

NameTitle
F Mayes DavisonBoard Member
Scott HardigreeBoard Secret

Highest Paid Contractors

ContractorServicesLocationCompensation
Sterigen LLCHousekeepingPO BOX 11407, Birmingham, AL 35246$851,486
Metz CulinaryFood ServicesTWO WOODLAND DRIVE, Dallas, PA 18612$760,816
US AnesthesiaPhysicianPO BOX 68, Tennille, GA 31089$705,000
Mcdermott Will & EmoryLegalPO BOX 6043, Chicago, IL 60680$622,358
Innovative Therapy ConceptsPhysical Therap2 MASHBURN STREET SUITE 102, Hawkinsville, GA 31036$600,989
Revenue and Support

Revenue Composition

Contributions and Grants
$118,555
Program Service Revenue
$37,040,875
Investment Income
$5,681,539
Other Revenue
$1,078,303
All Other Contributions
$118,555
Change in Net Assets
$-4,506,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,954,742
Salaries, Compensation, and Employee Benefits$18,470,863
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,862,667$148,896-$14,011,563
Office Expenses$11,941,426$1,369,484-$13,310,910
Fees for Services Other$6,866,896$353,280-$7,220,176
Other Employee Benefits$3,265,003$24,687-$3,289,690
Depreciation Depletion$1,878,436$203,773-$2,082,209
Occupancy$1,250,390--$1,250,390
Insurance$794,632--$794,632
Current Officers, Directors, Trustees, and Key Employees$220,944$518,387-$739,331
Payroll Taxes$380,470$28,003-$408,473
Other Expenses$117,052$58,263-$175,315
Travel$75,435$44,315-$119,750
All Other Expenses$118,810--$118,810
Fees for Service Investment Mgmnt Fees-$109,807-$109,807
Interest$32,710--$32,710
Fees for Services Accounting-$25,370-$25,370
Pension Plan Contributions$21,806--$21,806
Fees for Services Legal-$14,807-$14,807
Total Functional Expenses$45,511,460$2,914,145$0$48,425,605
International Activity

International Summary

Spending
$1,396,586

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Cayman IslandsInvestment---$1,396,586
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tyler R DavisonFamily MemberRn in Emergency RoomNo$55,770
Jodi a DavisonFamily MemberOccupational TherapiNo$20,334
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$5,115,550
Due to Hart County$1,078,132
Medicare/medicaid Cost Report Settle$719,411
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

After management review and approval, an electronic copy of the form 990 was emailed to all members of the tycobb healthcare system, inc.'s board of directors for approval prior to submission.

Form 990, Page 6, Part VI, Line 12C

The board of directors and ceo monitor and enforce compliance with the conflict of interest policy.

Form 990, Page 6, Part VI, Line 15A

The compensation of ty cobb healthcare system, inc.'s ceo is reviewed and approved by the independent board of directors. External comparability reporting was also used in the determination of compensation of the ceo.

Form 990, Page 6, Part VI, Line 15B

The compensation of ty cobb healthcare system, inc.'s cfo is reviewed and approved by the independent board of directors. External comparability reporting was also used in the determination of compensation of the cfo.

Form 990, Page 6, Part VI, Line 19

The ty cobb healthcare system, inc.'s governing documents, conflict of interest policy, and financial statements are available for the public to review at the system's corporate office upon request.

Form 990, Part VII

The board of directors of ty cobb regional medical center, llc has oversight of the operations of the hospital facility. This board is under the control of ty cobb healthcare system, inc. The sole owner of the llc. The members of this oversight board include the following individuals: leslie fordham; jodon garringer, m.d.; deborah harbin; hugh jenkins, m.d.; harris little; jeff marshall, m.d.; ram reddy, m.d.; bob ridgway, and diane toney.

Filing and Contact Details

Filer

Filer Name
Ty Cobb Healthcare System Inc
EIN
58-0633978
Phone
7062457272
Address
PO BOX 9, FRANKLIN SPRINGS, GA 30639
Doing Business As
Ty Cobb Regional Medical Center

Signing Officer

Name
Gregory Hearn
Title
CEO
Phone
7062457272
Signed
2016-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Hearn
Formed
1950
Legal Domicile
Ga
Voting Board Members
6
Independent Board Members
5
Employees
917

Preparer

Firm
Draffin & Tucker Llp
Address
PO BOX 71309, ALBANY, GA 31708-1309
Preparer
William Edward Phillips
Phone
2298837878
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

Brown memorial convalescent center, cobb healthcare center, the gables at cobb village, the fitness firm of tchs, health works of tchs, home base health services, carnesville family practice, ty cobb museum

Form 990, Page 1, Item B

Following the filing of the original return, the organization's audited financial statements were issued. The 2014 form 990 is being amended to reflect the results of audit adjustments made and to attach a copy of the audited financial statements to the return. The audited financial statements were issued after the extended due date of the original return. Changes were made to parts viii (statement of revenues), ix (statement of functional expenses), x (balance sheet), xi (reconciliation of net assets), schedule h (hospital), schedule j (compensation information), schedule n (disposition of assets). In addition, changes to narratives throughout the return were made to consistently reference the filing organization by the same term and to clarify certain details regarding discontinued operations.

FORM 990 - ORGANIZATION'S MISSION

To continuously improve the quality of primary care, long-term care and home care within our resource capabilities and to promote healthier lifestyles through education consistend with individual and community needs.

Form 990, Page 2, Part III, Line 3

On march 31, 2014, the system sold both of its nursing homes - brown memorial convalescent center and cobb healthcare center. In addition, a building owned by the system that once served as the hart county hospital building was sold. Gain from the sale of these assets totals 5,276,636. After that date, the primary activity of the system is the operation of an assisted living facility.

Form 990, Page 2, Part III, Line 4A

The hospital's actual charges. In some cases, these programs pay the hospital at amounts which are less than the cost of providing the services. The hospital also provides care to patients who meet certain criteria under its indigent and charity care policy without charge or at amounts less than its established rates. Charges foregone, at established rates, under the indigent and charity care policy approximated 2,121,000. In addition, the hospital had bad debt expense (patient bills that were not collected) of approximately 7,232,000.

Form 990, Part V, Line 4B

CAYMAN ISLANDS

Form 990, Part IX, Line 11G

Purchased services 6,866,896 353,280 0

Form 990, Part XI, Line 9

Wholly owned captive consolidated gain 614,376 equity transfers -3,519,446 impairment loss -1,195,372 990t book tax differences 3,386 contribution limitation 990t 58,380 total other changes (4,038,676)

Financial Statement Notes

Schedule D, Page 2, Part III, Line 4

Baseball legend ty cobb donated funds to build the original hospital facility. The system operates the ty cobb museum. Articles and memorabilia from ty cobb's baseball career (much of which is on loan from owners other than ty cobb healthcare system) are displayed. The operation of the museum is for the benefit of the community, for historical preservation and to pay tribute to the man responsible for the formation of the original hospital.

Schedule D, Page 3, Part X

The system, the foundation, and lake hartwell are not-for-profit corporations and have been recognized as tax-exempt pursuant to section 501(c)(3) of the internal revenue code. The segregated portfolio intends to conduct its affairs in a manner in which it will not be subject to u.s. Federal income tax or georgia income tax. Regional is considered a disregarded entity of the system. The system files a form 990-t to report the unrelated business income of springs media that is subject to tax. The system applies accounting policies that prescribe when to recognize and how to measure the financial statement effects of income tax positions taken or expected to be taken on its income tax returns. These rules require management to evaluate the likelihood that, upon examination by the relevant taxing jurisdictions, those income tax positions would be sustained. Based on that evaluation, the system only recognizes the maximum benefit of each income tax position that is more than 50% likely of being sustained. To the extent that all of a portion of the benefits of an income tax position are not recognized, a liability would be recognized for the unrecognized benefits, along with any interest and penalties that would result from disallowance of the position. Should any such penalties and interest be incurred, they would be recognized as operating expense. Based on the results of management's evaluation, no liability is recognized in the accompanying balance sheet for unrecognized tax positions. Further, no interest or penalties have been accrued or charged to expense as of december 31, 2014 and 2013 or for the years then ended. The system's tax returns are subject to possible examination by the taxing authorities. For federal income tax purposes, the tax returns remain open for possible examination for a period of three years after the respective filing deadlines of those returns.

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IRS990/Desc0DURING 2014,TY COBB HEALTHCARE SYSTEM, INC. (THE SYSTEM) OPERATED BROWN MEMORIAL CONVALESCENT CENTER, A 144-BED LONG-TERM CARE FACILITY, COBB HEALTHCARE CENTER, A 116 BED LONG-TERM CARE FACILITY, THE GABLES AT COBB VILLAGE, A 48 BED ASSISTED LIVING FACILITY, AND TY COBB REGIONAL MEDICAL CENTER, A 56 BED ACUTE CARE HOSPITAL. TY COBB REGIONAL MEDICAL CENTER HAD 6,150 INPATIENT DAYS AND 17,651 EMERGENCY ROOM VISITS DURING 2014. THE HOSPITAL PARTICIPATED IN THE MEDICARE AND MEDICAID GOVERNMENT INSURANCE PROGRAMS DURING 2014. UNDER THESE PROGRAMS, THE HOSPITAL PROVIDES CARE TO PATIENTS AT PAYMENT RATES WHICH ARE DETERMINED BY THE FEDERAL AND STATE GOVERNMENTS, REGARDLESS OF THE HOSPITAL'S ACTUAL CHARGES. IN SOME CASES, THESE PROGRAMS PAY THE HOSPITAL AT AMOUNTS WHICH ARE LESS THAN THE COST OF PROVIDING THE SERVICES. THE HOSPITAL ALSO PROVIDES CARE TO PATIENTS WHO MEET CERTAIN CRITERIA UNDER ITS INDIGENT AND CHARITY CARE POLICY WITHOUT CHARGE OR AT AMOUNTS LESS THAN ITS ESTABLISHED RATES. CHARGES FOREGONE, AT ESTABLISHED RATES, UNDER THE INDIGENT AND CHARITY CARE POLICY APPROXIMATED 2,121,000. IN ADDITION, THE HOSPITAL HAD BAD DEBT EXPENSE (PATIENT BILLS THAT WERE NOT COLLECTED) OF APPROXIMATELY 7,232,000.
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IRS990/MissionDesc0TO CONTINUOUSLY IMPROVE THE QUALITY OF PRIMARY CARE, LONG-TERM CARE AND HOME CARE WITHIN OUR RESOURCE CAPABILITIES AND TO PROMOTE HEALTHIER LIFESTYLES THROUGH EDUCATION CONSISTEND WITH INDIVIDUAL AND COMMUNITY NEEDS.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.62$0.45$3.17$7.27$6.97$0.30
2023Detailed filing. Detailed filing data is available for this year.$3.05$0.09$2.96$3.15$2.96$0.20
2022Detailed filing. Detailed filing data is available for this year.$2.72$0.12$2.60$2.33$2.87$0.53
2021Detailed filing. Detailed filing data is available for this year.$3.31$0.18$3.13$2.53$2.34$0.19
2020Detailed filing. Detailed filing data is available for this year.$3.06$0.12$2.94$2.59$2.64$0.05
2019Detailed filing. Detailed filing data is available for this year.$3.12$0.12$3.00$2.24$2.42$0.18
2018Detailed filing. Detailed filing data is available for this year.$3.27$0.09$3.17$2.30$2.39$0.08
2017Detailed filing. Detailed filing data is available for this year.$4.12$0.78$3.34$2.36$2.14$0.22
2016Summary only. Only limited summary data is available for this year.$5.16$1.43$3.74$2.28$2.39$0.11
2015Detailed filing. Detailed filing data is available for this year.$10.7$2.99$7.74$23.0$23.8$0.85
2014Detailed filing. Detailed filing data is available for this year.$27.3$19.7$7.55$43.9$48.4$4.51
2013Detailed filing. Detailed filing data is available for this year.$60.9$44.5$16.3$50.7$59.7$9.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.6$39.6$28.1$57.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$62.6$32.0$30.6$40.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.1$30.9$33.1$39.9