Civic Intelligence

Parkview Health Systems Inc.

990 • Fiscal year 2015 • EIN 84-0935138

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 26, 2016

400 W 16th StreetPueblo, CO 81003

(719) 584-4534

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

54th percentile

0.13x

Higher debt load relative to revenue than 54% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

1st percentile

-46666%

Higher net margin than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

99th percentile

$978,035

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 3178.7% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

5th percentile

-22%

Faster asset growth than 5% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

8th percentile

-38%

Faster revenue growth than 8% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,236,920

Down $346,410 (-22%) from 2014

Net Assets

Down

$1,232,788

Down $347,458 (-22%) from 2014

Liabilities

Up

$4,132

Up $1,048 (+34%) from 2014

Revenue

Down

$30,768

Down $18,492 (-38%) from 2014

Expenses

Up

$14,388,986

Up $884,177 (+6.5%) from 2014

Net Income

Down

-$14,358,218

Down $902,669 (-6.7%) from 2014

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2010: $8,058,728Liabilities 2010: $71,388Net Assets 2010: $7,987,3402010Assets 2011: $8,222,112Liabilities 2011: $3,526Net Assets 2011: $8,218,5862011Assets 2012: $2,112,177Liabilities 2012: $13,180Net Assets 2012: $2,098,9972012Assets 2013: $1,752,876Liabilities 2013: $3,641Net Assets 2013: $1,749,2352013Assets 2014: $1,583,330Liabilities 2014: $3,084Net Assets 2014: $1,580,2462014Assets 2015: $1,236,920Liabilities 2015: $4,132Net Assets 2015: $1,232,7882015Assets 2016: $1,382,276Liabilities 2016: $1,825,391Net Assets 2016: -$443,1152016Assets 2017: $1,241,030Liabilities 2017: $1,328,186Net Assets 2017: -$87,1562017Assets 2018: $472,800Liabilities 2018: $740,570Net Assets 2018: -$267,7702018Assets 2019: $678,589Liabilities 2019: $1,183,932Net Assets 2019: -$505,3432019Assets 2020: $166,780Liabilities 2020: $641,140Net Assets 2020: -$474,3602020Assets 2021: $227,277Liabilities 2021: $530,780Net Assets 2021: -$303,5032021Assets 2022: $196,545Liabilities 2022: $434,403Net Assets 2022: -$237,8582022Assets 2023: $165,871Liabilities 2023: $1,035,055Net Assets 2023: -$869,1842023Assets 2024: $111,736Liabilities 2024: $399,029Net Assets 2024: -$287,2932024

Highlighted filing

2015

Assets$1,236,920
Liabilities$4,132
Net Assets$1,232,788

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $298,5062010Expenses 2011: $482,6982011Expenses 2012: $12,754,0362012Expenses 2013: $11,890,6952013Revenue 2014: $49,260Expenses 2014: $13,504,809Net Income 2014: -$13,455,5492014Revenue 2015: $30,768Expenses 2015: $14,388,986Net Income 2015: -$14,358,2182015Revenue 2016: $31,358,576Expenses 2016: $17,385,480Net Income 2016: $13,973,0962016Revenue 2017: $29,312,242Expenses 2017: $28,956,212Net Income 2017: $356,0302017Revenue 2018: $39,679,344Expenses 2018: $39,859,958Net Income 2018: -$180,6142018Revenue 2019: $43,552,831Expenses 2019: $43,790,161Net Income 2019: -$237,3302019Revenue 2020: $49,002,739Expenses 2020: $48,971,756Net Income 2020: $30,9832020Revenue 2021: $49,526,192Expenses 2021: $49,355,335Net Income 2021: $170,8572021Revenue 2022: $55,064,445Expenses 2022: $54,988,952Net Income 2022: $75,4932022Revenue 2023: $63,749,696Expenses 2023: $64,407,299Net Income 2023: -$657,6032023Revenue 2024: $71,296,042Expenses 2024: $70,659,360Net Income 2024: $636,6822024

Highlighted filing

2015

Revenue$30,768
Expenses$14,388,986
Net Income-$14,358,218
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 26, 2016
Return Version
2014v6.0
Gross Receipts
$30,768
Mission and Program Overview

Mission

To operate exclusively for the benefit of parkview medical center, inc. And to support other non-profit health care providers organized for charitable purpose.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,160,681$631,698▼ $528,983
Savings and Temporary Cash Investments$229,673$327,579▲ $97,906
Investments Program Related$139,797$161,516▲ $21,719
Cash and Non-Interest-Bearing Accounts$43,598$107,541▲ $63,943
Accounts Receivable$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
Land, Buildings, and Equipment, Net$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$1,583,330$1,236,920▼ $346,410
Other Assets Total$9,581$8,586▼ $995
Liabilities
Accounts Payable and Accrued Expenses$3,084$4,132▲ $1,048
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
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,084$4,132▲ $1,048
Net Assets / Fund Balance
Unrestricted Net Assets$1,580,246$1,232,788▼ $347,458
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,580,246$1,232,788▼ $347,458
Total Liabilities and Net Assets / Fund Balance$1,583,330$1,236,920▼ $346,410

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$161,516--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,211,300$21,362▲ $36,918-$1,269,580
2013$1,187,249$12,611▲ $11,440-$1,211,300
2012$1,197,839$25,241▼ $35,831-$1,187,249
2011$1,158,750$18,924▲ $20,165-$1,197,839
2010$1,125,599$18,608▲ $14,543-$1,158,750
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Ali MuradPhysician$99,767$144,742$244,509
Keith NorvillPhysician$100,793$126,211$227,004
Charles RuzkowskiPhysician$145,641$33,480$179,121
Rickland LikesPhysician$80,990$91,541$172,531
Robert C ThomasPhysician$79,673$88,244$167,917

Board Members and Trustees

NameTitle
Mark KennedyChair
James HadleyPmc Chair
Michael BaxterPresident/CEO Parkview
Vince VigilVice-chair
Priscilla LuceroVice-chair (through 02/15)
Bruce Johnson MdDirector
Bryan Nolt MdDirector
Jamie MckinneyDirector
Judy WeaverDirector
Tom GreidanusDirector
Leslie BarnesCFO Parkview Medical
Judy FondaSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$9,050
Other Revenue
$21,718
Change in Net Assets
$-14,358,218

Audited Revenue Reconciliation

Revenue per Audited Statements
$-13,957,274
Revenue Not Reported on Financial Statements
$13,988,042
Revenue Not Reported on Form 990
$22,182
Other Revenue Adjustments
$13,988,042
Total Revenue per Audited Statements
$-13,935,092
Total Revenue per Form 990
$30,768
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,325,750
Salaries, Compensation, and Employee Benefits$804,508
Grants and Similar Amounts Paid$258,728
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$804,508--$804,508
Grants to Domestic Orgs$258,728--$258,728
Travel-$79,934-$79,934
Fees for Services Lobbying-$36,000-$36,000
Advertising-$14,930-$14,930
Fees for Services Legal-$6,341-$6,341
Fees for Services Accounting-$5,010-$5,010
Other Expenses$300--$300
Total Functional Expenses$14,246,771$142,215$0$14,388,986

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$14,388,986
Expenses Not Reported on Financial Statements$13,988,042
Other Expense Adjustments$13,988,042
Expenses per Audited Statements$400,944
Total Expenses per Audited Statements$400,944
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pueblo Community CollegePueblo, COState of CoNursing Program$100,000
Csu-pueblo FoundationPueblo, COState of CoNursing Program$90,000
Crossroads Turning Points IncPueblo, CO501(c)(3)Detoxification Bed Utilization$51,300
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

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
BColorado Health Facilities Authority2007-11-08$38,380,000CONSTRUCTION
DColorado Health Facilities Authority2015-06-18$38,130,000Refunding of series 2007a bonds
CColorado Health Facilities Authority2007-11-08$30,530,000Refunding of series 1998 and serie
AColorado Health Facilities Authority2012-10-04$29,310,000CONSTRUCTION
BColorado Health Facilities Authority2014-09-01$11,820,000Refunding of series 2004 bonds
AColorado Health Facilities Authority2005-10-26$8,475,000REVENUE REFUNDING
CColorado Health Facilities Authority2015-06-18$5,315,000Refunding of series 2005 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$38,380,000$0$0$390,128
D$38,130,000$0$0$657,847
C$30,530,000$0$5,320,000$319,802
A$30,358,821$0$930,000$454,957
B$11,820,000$11,673,585$0$146,415
A$8,475,000$2,753$2,105,000$194,264
C$5,315,000$0$0$136,761

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Parkview Health System Inc
EIN
84-0935138
In Care Of
% LESLIE BARNES
Phone
7195844534
Address
400 W 16TH STREET, PUEBLO, CO 81003

Signing Officer

Name
Leslie Barnes
Title
CFO
Phone
7195844673
Signed
2016-02-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Leslie Barnes
Formed
1984
Legal Domicile
Co
Voting Board Members
10
Independent Board Members
8
Employees
213
Volunteers
8

Preparer

Firm
Stockman Kast Ryan & Co Llp
Address
102 N CASCADE AVENUE SUITE 400, COLORADO SPRINGS, CO 80903
Preparer
Eric T Ryan
Phone
7196301186
Supplemental Narrative

Additional Explanations

Supplemental Information

Part V line 2a Parkview Ancillary Services, a single member LLC of Parkview Health Systems, leases employees from Parkview Medical Center. These W-2 wages are reported by the common paymaster, Parkview Medical Center. PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS AND FINANCE COMMITTEE REVIEW AND APPROVE THE FORM 990 BEFORE IT IS FILED. PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY IN PLACE AND IS AVAILABLE FOR REVIEW UPON REQUEST. PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS APPROVES WAGE PARAMETERS AND ALL CONTRACTS, INCLUDING CONTRACT EXTENSIONS. PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE. PART XI, LINE 9, CHANGES IN NET ASSETS CASH TRANSFER FROM PARKVIEW MEDICAL CENTER, INC: $13,988,577 PART XII, LINE 2C PARKVIEW HEALTH SYSTEMS, HAS AN AUDIT AND COMPLIANCE COMMITTEE, THAT MEETS QUARTERLY. THIS COMMITTEE SELECTS THE INDEPENDENT ACCOUNTANT TO CONDUCT THE AUDIT AND OVERSEES THE AUDIT.

Financial Statement Notes

Part V, Line 4

Parkview health systems, inc. Indirectly through parkview foundation,inc. Holds endowment assets. The foundation adopted investment and spending policies for the endowment fund that attempt to provide a predictable stream of funding while seeking to maintain the purchasing power of the endowment assets. The foundation expects distributions of approximately five percent of assets annually, although this percentage can vary.

Part X, Line 2

The Health System accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Health System believes that it does not have any uncertain tax positions that are material to the financial statements. The Health System and its affiliates income tax returns for 2012 through the current period remain open to examination by the Internal Revenue Service and relevant state authorities.

Part XI, Line 4B

Loss on investment in Parkview ancillary services, llc of $13,988,042 classified for the audit as investment income is reclassified from income and detailed as expenses in the return. PARKVIEW ANCILLARY SERVICES, LLC IS A 100% OWNED DISREGARDED ENTITY OF PARKVIEW HEALTH SYSTEMS, INC.

Part XII, Line 4B

Expenses of $13,988,042 from parkview ancillary services, llc, which were actually expenses and listed as such as detail in the return. Parkview ancillary services, llc is a 100% owned disregarded entity of parkview health systems, inc.

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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.$0.11$0.40$0.29$71.3$70.7$0.64
2023Detailed filing. Detailed filing data is available for this year.$0.17$1.04$0.87$63.7$64.4$0.66
2022Detailed filing. Detailed filing data is available for this year.$0.20$0.43$0.24$55.1$55.0$0.08
2021Detailed filing. Detailed filing data is available for this year.$0.23$0.53$0.30$49.5$49.4$0.17
2020Detailed filing. Detailed filing data is available for this year.$0.17$0.64$0.47$49.0$49.0$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.68$1.18$0.51$43.6$43.8$0.24
2018Detailed filing. Detailed filing data is available for this year.$0.47$0.74$0.27$39.7$39.9$0.18
2017Detailed filing. Detailed filing data is available for this year.$1.24$1.33$0.09$29.3$29.0$0.36
2016Detailed filing. Detailed filing data is available for this year.$1.38$1.83$0.44$31.4$17.4$14.0
2015Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.23$0.03$14.4$14.4
2014Detailed filing. Detailed filing data is available for this year.$1.58$0.00$1.58$0.05$13.5$13.5
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$0.00$1.75$11.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.11$0.01$2.10$12.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.22$0.00$8.22$0.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.06$0.07$7.99$0.30