Civic Intelligence

Srhs Bankruptcy Inc (Fka Sumner Regional Health Systems Inc)

EIN 62-1573738 • 501(c)3

Profile

As of september 1, 2010 the hospital discontinued all operations.

c/o Navigant Capital Advisors LLC1603 Orrington Ave60201

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2014

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2014

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2014

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

3rd percentile

-100%

Faster revenue growth than 3% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2011 to 2014

Assets

Down

$0

Down $2,051,900 (-100%) from 2013

Liabilities

Down

$0

Down $4,472,789 (-100%) from 2013

Net Assets

Up

$0

Up $2,420,889 (+100%) from 2013

Revenue

$0

No earlier filing loaded for comparison.

Expenses

Flat

$0

Flat from 2013

Net Income

$0

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0-$100MAssets 2010: $204,854,618Liabilities 2010: $174,693,153Net Assets 2010: $30,161,4652010Assets 2011: $52,453,926Liabilities 2011: $46,178,609Net Assets 2011: $6,275,3172011Assets 2012: $16,692,086Liabilities 2012: $18,222,457Net Assets 2012: -$1,530,3712012Assets 2013: $2,051,900Liabilities 2013: $4,472,789Net Assets 2013: -$2,420,8892013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2010: $155,718,3232010Revenue 2011: $31,762,527Expenses 2011: $55,648,675Net Income 2011: -$23,886,1482011Expenses 2012: $15,339,7052012Expenses 2013: $02013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014

Highlighted filing

2014

Revenue$0
Expenses$0
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2013 to May 31, 2014
Signed
Jul 1, 2014
Return Version
2013v3.1
Gross Receipts
$0
Mission and Program Overview

Mission

As of september 1, 2010 the hospital discontinued all operations.

As of september 1, 2010 the hospital discontinued all operations. The hospital and it affiliates were purchased by lifepoint hospitals and currently operate under new ownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,405,295--
Prepaid Expenses and Deferred Charges$636,605--
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
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,051,900$0▼ $2,051,900
Other Assets Total$10,000$0▼ $10,000
Liabilities
Tax Exempt Bond Liabilities$3,436,832--
Accounts Payable and Accrued Expenses$1,035,957--
Other Liabilities$0$0→ $0
Total Liabilities$4,472,789$0▼ $4,472,789
Net Assets / Fund Balance
Permanently Rstr Net Assets$10,000--
Unrestricted Net Assets$-2,430,889--
Total Net Assets Fund Balance$-2,420,889$0▲ $2,420,889
Total Liabilities and Net Assets / Fund Balance$2,051,900$0▼ $2,051,900

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$0--
Other Land Buildings$0--
Land$0--
Equipment$0--
Leasehold Improvements$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Matt CainePlan Administrator
Joseph OritiVP of Finance
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

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

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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Sec A, Line 3, Delegation of management duties

During the fiscal year ended may 31, 2014 the organization engaged navigant consulting, a management and advisory consulting company, to perform management duties customarily performed by the organization's officers or key employees. The following individuals performed services to srhs bankruptcy, inc. Through navigant consulting: joseph oriti, vp of finance matt caine, plan administrator accordingly, the individuals listed above have been reported as officers in part vii, section a of the form 990.

Form 990, Part VI, Sec A, Line 8A, Documentation of meetings held by governing body

The organization ceased operations as of september 1, 2010. There is no longer a formal board of directors. During the fiscal year ended may 31, 2014 the organization engaged navigant consulting, a management and advisory consulting company, to perform management duties customarily performed by the organization's officers, key employees and board of directors. The following individuals performed services to srhs bankruptcy, inc. Through navigant consulting: joseph oriti, vp of finance matt caine, plan administrator

Form 990, Part VI, Sec B, Line 11B, Review of form 990 by governing body

The organization's vp of finance works with its independent third party tax preparers to complete the form 990. Upon its completion, the organization's vp of finance performs a detailed preliminary review of the prepared form 990.

Form 990, Part VI, Line 12C, Conflict of Interest Policy

The organization ceased operations as of september 1, 2010. There is no longer a formal board of directors, officers or key employees. During the fiscal year ended may 31, 2014 the organization engaged in navigant consulting company, to perform management duties customarily performed by the organization's officers, key employees and board of directors. The following individuals performed services to ftrmh bankruptcy, inc. Joseph oriti, vp of finance matt caine, plan administrator

Form 990, Part VI, Line 15, Process for Determining Compensation

The organization does not have any compensated officers or key employees per the irs's definition. As such, lines 15a and 15b have been marked "no" in accordance with the instructions to the form 990.

Form 990, Part VI, Sec C, Line 19, Required documents available to the public

Public disclosure governing documents, conflict of interest policies, and financial statements are not required disclosures pursuant to internal revenue code (irc) section 6104. These documents are not available to the public at this time.

Filing and Contact Details

Filer

EIN
62-1573738
Phone
8475832807

Signing Officer

Name
Joseph Oriti
Title
VP of Finance
Signed
2014-07-01
Discuss with paid preparer
Yes

Organization Details

Formed
1994
Legal Domicile
Tn
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Preparer
John Woodhull
Phone
3128997000
Supplemental Narrative

Additional Explanations

Form 990 , Part XI, Line 9, Other changes in net assets or fund balances

Adjustment for balance sheet transactions - 2420889;

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IRS990/Form990PartVIISectionAGrp/TitleTxt0VP OF FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt1PLAN ADMINISTRATOR
IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr01994
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IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
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IRS990/GoverningBodyVotingMembersCnt00
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt00
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IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
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IRS990/GrossReceiptsAmt00
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IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MethodOfAccountingCashInd0X
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IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
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IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetAssetsOrFundBalancesBOYAmt0-2420889
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IRS990/OtherAssetsTotalGrp/BOYAmt010000
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine10VARIOUS CREDITORS AND OTHER BANKRUPTCY FEES
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0AS OF SEPTEMBER 1, 2010 THE HOSPITAL DISCONTINUED ALL OPERATIONS. THE HOSPITAL AND ITS AFFILIATES WERE PURCHASED BY LIFEPOINT HOSPITALS AND CURRENTLY OPERATE UNDER NEW OWNERSHIP. THE REMAINING ASSETS AND LIABILITIES ON SRHS BANKRUPTCY'S BOOKS ARE MANAGED BY A PROFESSIONAL BANKRUPTCY FIRM. THE REMAINING AMOUNT HAS BEEN PAID OFF OR WRITTEN OFF DEPENDING ON THE ASSETS AVAILABLE AND THE ORDERS OF THE BANKRUPTCY COURT.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule N, Part I, Line 6c, Discharged or defeased tax-exempt bond liabilities
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE FISCAL YEAR ENDED MAY 31, 2014 THE ORGANIZATION ENGAGED NAVIGANT CONSULTING, A MANAGEMENT AND ADVISORY CONSULTING COMPANY, TO PERFORM MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY THE ORGANIZATION'S OFFICERS OR KEY EMPLOYEES. THE FOLLOWING INDIVIDUALS PERFORMED SERVICES TO SRHS BANKRUPTCY, INC. THROUGH NAVIGANT CONSULTING: JOSEPH ORITI, VP OF FINANCE MATT CAINE, PLAN ADMINISTRATOR ACCORDINGLY, THE INDIVIDUALS LISTED ABOVE HAVE BEEN REPORTED AS OFFICERS IN PART VII, SECTION A OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION CEASED OPERATIONS AS OF SEPTEMBER 1, 2010. THERE IS NO LONGER A FORMAL BOARD OF DIRECTORS. DURING THE FISCAL YEAR ENDED MAY 31, 2014 THE ORGANIZATION ENGAGED NAVIGANT CONSULTING, A MANAGEMENT AND ADVISORY CONSULTING COMPANY, TO PERFORM MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY THE ORGANIZATION'S OFFICERS, KEY EMPLOYEES AND BOARD OF DIRECTORS. THE FOLLOWING INDIVIDUALS PERFORMED SERVICES TO SRHS BANKRUPTCY, INC. THROUGH NAVIGANT CONSULTING: JOSEPH ORITI, VP OF FINANCE MATT CAINE, PLAN ADMINISTRATOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S VP OF FINANCE WORKS WITH ITS INDEPENDENT THIRD PARTY TAX PREPARERS TO COMPLETE THE FORM 990. UPON ITS COMPLETION, THE ORGANIZATION'S VP OF FINANCE PERFORMS A DETAILED PRELIMINARY REVIEW OF THE PREPARED FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION CEASED OPERATIONS AS OF SEPTEMBER 1, 2010. THERE IS NO LONGER A FORMAL BOARD OF DIRECTORS, OFFICERS OR KEY EMPLOYEES. DURING THE FISCAL YEAR ENDED MAY 31, 2014 THE ORGANIZATION ENGAGED IN NAVIGANT CONSULTING COMPANY, TO PERFORM MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY THE ORGANIZATION'S OFFICERS, KEY EMPLOYEES AND BOARD OF DIRECTORS. THE FOLLOWING INDIVIDUALS PERFORMED SERVICES TO FTRMH BANKRUPTCY, INC. JOSEPH ORITI, VP OF FINANCE MATT CAINE, PLAN ADMINISTRATOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DOES NOT HAVE ANY COMPENSATED OFFICERS OR KEY EMPLOYEES PER THE IRS'S DEFINITION. AS SUCH, LINES 15A AND 15B HAVE BEEN MARKED "NO" IN ACCORDANCE WITH THE INSTRUCTIONS TO THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PUBLIC DISCLOSURE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE NOT REQUIRED DISCLOSURES PURSUANT TO INTERNAL REVENUE CODE (IRC) SECTION 6104. THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC AT THIS TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ADJUSTMENT FOR BALANCE SHEET TRANSACTIONS - 2420889;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Sec A, Line 3, Delegation of management duties
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Sec A, Line 8a, Documentation of meetings held by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Sec B, Line 11b, Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, LINE 12C, CONFLICT OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, LINE 15, PROCESS FOR DETERMINING COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Sec C, Line 19, Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990 , Part XI, Line 9, Other changes in net assets or fund balances
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