Health First Shared Services INC: FY2021 Nonprofit Profile & Form 990 (EIN 59-3336894)

Revenue by fiscal year
FY2021	$271.5M
FY2022	$291.1M
FY2023	$388.9M
FY2024	$337.5M
FY2024	$82.2M

Expenses by fiscal year
FY2021	$265.7M
FY2022	$319.8M
FY2023	$358.1M
FY2024	$303.6M
FY2024	$94.2M

Net assets by fiscal year
FY2021	$1.3B
FY2022	$1.2B
FY2023	$1.4B
FY2024	$1.6B
FY2024	$1.6B

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

81 cents of each dollar spent went to programs.

81%

19%

Program services 81% · $214.3M Management & general 19% · $51.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

37 people listed on the 990; $15.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Steven P Johnson

President/CEO

$3,198,315Pt VII · Sec A

Drew a Rector

Exec VP Chief Strategy Officer

$1,269,781Pt VII · Sec A

Brett a Esrock

SR VP CEO Hospital Services

$966,706Pt VII · Sec A

Joseph G Felkner

Former Exec VP/CFO Hfi (end 1/2020)

$871,162Pt VII · Sec A

James S Mitchell III

Former Exec VP/COO Hfi (end 9/2020)

$868,918Pt VII · Sec A

William J Walders

CIO SR VP Operations Support

$842,731Pt VII · Sec A

Paula B Just

Exec VP/Chief Admin Officer

$829,159Pt VII · Sec A

Michael a Scialdone

EVP/CFO Hfi

$812,228Pt VII · Sec A

Steven P Johnson’s $1.7M as Former President/CEO Hfi is at the 98th percentile of top reported officer pay among 2901 $10–100M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021
Steven P Johnson	$1,703,863	$2,183,427	$3,705,202	$3,198,315
Drew a Rector	$1,195,781	$1,166,423	$1,317,087	$1,269,781
Michael a Scialdone	$799,466	$896,876	$1,083,940	$812,228
James S Mitchell III	—	$325,397	$1,021,794	$868,918
Brett a Esrock	$980,450	$735,252	$917,029	$966,706
William J Walders	$196,536	$725,575	$915,880	$842,731
Jeffrey C Stalnaker MD	$875,347	$730,001	$846,957	$789,053
Joseph G Felkner	—	—	$532,448	$871,162

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes
Loans to or from officersSch L · Pt II7 listed

Programs and updates

Improves community health and wellness through accessible programs and resources.

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Provided by the organization

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1 program · $214.3M · in their own filed words · FY2020

01

The primary exempt purpose of health first shared services, inc. (HFSS) is to provide support and services that enable the integrated delivery network to provide exceptional patient care at health first's cape canaveral hospital, health first's holmes regional medical center, health first's palm bay hospital, health first's viera…

$214.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

Health First Foundation INCFY2024$157K

Total grants receivedfrom 1 funder$157K

Grants paid · 4 grants · $200K · 2020–2023

Economic Development Commission of Florida's Space Coast INCFL · FY2023$50,000

Economic Development Commission of Florida's Space Coast INCFL · FY2022$50,000

Economic Development Commission of Florida's Space Coast INCFL · FY2021$62,500

Economic Development Commission of Florida's Space Coast INCFL · FY2020$37,500

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$271.5M

Ln 12

Fees for servicesLn 2g$240.5M

Investment incomeLn 3$29.3M

Gifts and grantsLn 1h$863K

Money outPt IX

$265.7M

Ln 25

Programscol B$214.3M

Managementcol C$51.3M

Owns and owesPt X

$1.3B

net assets · Ln 32

Cash and savingsLn 1–2$948.3M

Total assetsLn 16$1.7B

LiabilitiesLn 26$378.2M

PeoplePt VI, VII

37

listed · VII A

PaidVII A30

Voting boardVI 1a15

IndependentVI 1b14

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$863K

Government grantsLn 1e$531K

Fees for servicesLn 2g$240.5M

Investment incomeLn 3$29.3M

Other incomeLn 4–11$754K

Gains on assetsLn 7$12.8M

Total revenueLn 12$271.5M

Assets in detailPt X, end of year

CashLn 1$126.4M

SavingsLn 2$821.9M

Cash and savings togetherLn 1–2$948.3M

InvestmentsLn 11–13$203.8M

Land, buildings, equipmentLn 10c$132.3M

Other assetsLn 15$343.9M

Total assetsLn 16$1.7B

LiabilitiesLn 26$378.2M

Net assetsLn 32$1.3B

OperationsPt I, VI

EmployeesI 512,099

VolunteersI 69

Fiscal year endsHeaderSeptember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$679.0M	$948.3M
InvestmentsLn 11–13	$218.7M	$203.8M
Land, buildings, equipmentLn 10c	$128.0M	$132.3M
Total assetsLn 16	$1.34B	$1.68B
LiabilitiesLn 26	$329.5M	$378.2M
Net assetsLn 32	$1.01B	$1.30B

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$48K	$48K
Pay of current officers, directors and key staffLn 5	$10.2M		$10.2M
Other salaries and wagesLn 7	$86.2M	$75.0M	$11.2M
Pension plan contributionsLn 8	$1.5M	$1.3M	$201K
Other employee benefitsLn 9	$37.2M	$32.4M	$4.8M
Payroll taxesLn 10	$6.8M	$5.9M	$887K
Legal feesLn 11b	$7.7M		$7.7M
Accounting feesLn 11c	$586K		$586K
Investment management feesLn 11f	$1000K		$1000K
Other fees for servicesLn 11g	$23.5M	$20.4M	$3.1M
Advertising and promotionLn 12	$1.3M	$1.1M	$166K
Office expensesLn 13	$8.2M	$7.2M	$1.1M
Information technologyLn 14	$32.9M	$28.6M	$4.3M
OccupancyLn 16	$4.1M	$3.6M	$537K
TravelLn 17	$112K	$98K	$15K
Conferences, conventions and meetingsLn 19	$57K	$50K	$7K
InterestLn 20	$2.8M	$2.5M	$368K
Depreciation, depletion and amortizationLn 22	$18.1M	$15.7M	$2.4M
InsuranceLn 23	$11.9M	$10.3M	$1.5M
Other expenses (24a–d)Ln 24	$6.2M	$5.6M	$634K
All other expensesLn 24e	$5.2M	$4.5M	$671K
Total functional expensesLn 25	$265.7M	$214.3M	$51.3M	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$337.5M	$303.6M	$33.9M	$1.6B	990 PDF
FY2023	$388.9M	$358.1M	$30.9M	$1.4B	990 PDF
FY2022	$291.1M	$319.8M	−$28.7M	$1.2B	990 PDF
FY2021 Viewing	$271.5M	$265.7M	$5.8M	$1.3B	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $271,514,090 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $570,640$862,903

I-9 Program service revenuePrior year $256,667,129$240,547,904

I-10 Investment incomePrior year $28,721,790$29,349,767

I-11 Other revenuePrior year $540,136$753,516

I-12 Total revenuePrior year $286,499,695$271,514,090

I-13 Grants and similar amounts paidPrior year $20,000$48,071

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $122,437,265$142,015,383

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $137,661,393$123,605,426

I-18 Total expensesPrior year $260,118,658$265,668,880

I-19 Revenue less expensesPrior year $26,381,037$5,845,210

Part VI · Governance 14 of 15 board members independent, no flags

VI-1a Voting members of the governing body15

VI-1b Independent voting members14

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $271,514,090 across 9 lines filed

VIII-1d Related organizations$331,773

VIII-1e Government grants$531,130

VIII-1h Total contributions, gifts and grants$862,903

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $240,547,904$240,547,904

VIII-3 Investment incomeExcluded from tax $16,562,888$16,562,888

VIII-6 Net rental income or lossExcluded from tax $186,875$186,875

VIII-7 Net gain or loss on sales of assetsExcluded from tax $12,786,879$12,786,879

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $566,641$566,641

VIII-12 Total revenueRelated to mission $240,547,904 · Unrelated business $566,641 · Excluded from tax $29,536,642$271,514,090

Part IX · Statement of functional expenses $265,668,880 across 21 lines filed

IX-1 Grants to domestic organizationsPrograms $48,071$48,071

IX-5 Pay of current officers, directors and key staffManagement $10,241,977$10,241,977

IX-7 Other salaries and wagesPrograms $75,002,964 · Management $11,207,340$86,210,304

IX-8 Pension plan contributionsPrograms $1,342,246 · Management $200,565$1,542,811

IX-9 Other employee benefitsPrograms $32,359,344 · Management $4,835,304$37,194,648

IX-10 Payroll taxesPrograms $5,938,309 · Management $887,334$6,825,643

IX-11b Legal feesManagement $7,673,238$7,673,238

IX-11c Accounting feesManagement $586,054$586,054

IX-11f Investment management feesManagement $999,746$999,746

IX-11g Other fees for servicesPrograms $20,433,454 · Management $3,053,273$23,486,727

IX-12 Advertising and promotionPrograms $1,111,113 · Management $166,028$1,277,141

IX-13 Office expensesPrograms $7,172,292 · Management $1,071,722$8,244,014

IX-14 Information technologyPrograms $28,627,845 · Management $4,277,724$32,905,569

IX-16 OccupancyPrograms $3,595,245 · Management $537,220$4,132,465

IX-17 TravelPrograms $97,504 · Management $14,569$112,073

IX-19 Conferences, conventions and meetingsPrograms $49,522 · Management $7,400$56,922

IX-20 InterestPrograms $2,463,000 · Management $368,034$2,831,034

IX-22 Depreciation, depletion and amortizationPrograms $15,731,937 · Management $2,350,749$18,082,686

IX-23 InsurancePrograms $10,321,273 · Management $1,542,259$11,863,532

IX-24 Other expenses (24a–d)Programs $5,556,990 · Management $634,180$6,191,170

IX-24e All other expensesPrograms $4,491,858 · Management $671,197$5,163,055

IX-25 Total functional expensesPrograms $214,342,967 · Management $51,325,913 · Fundraising $0$265,668,880

Part X · Balance sheet $1,676,572,579 assets, 16 lines filed

Asset lines not itemized here account for $32,789,086; see the IRS return.

X-1 Cash, non-interest-bearing$126,411,828

X-2 Savings and temporary cash investmentsStart of year $678,975,575$821,930,208

X-8 Inventories for sale or use$94,202

X-9 Prepaid expenses and deferred chargesStart of year $14,287,565$15,418,161

X-10c Land, buildings and equipment, netStart of year $128,045,844$132,276,193

X-13 Program-related investmentsStart of year $218,742,797$203,782,466

X-15 Other assetsStart of year $273,316,746$343,870,435

X-16 Total assetsStart of year $1,338,092,247$1,676,572,579

X-17 Accounts payable and accrued expensesStart of year $59,249,884$103,760,533

X-19 Deferred revenue$10,000

X-20 Tax-exempt bond liabilitiesStart of year $46,766,531$45,608,902

X-25 Other liabilitiesStart of year $161,828,914$170,230,200

X-26 Total liabilitiesStart of year $329,530,312$378,163,292

X-27 Net assets without donor restrictionsStart of year $1,008,561,935$1,298,409,287

X-32 Total net assets or fund balancesStart of year $1,008,561,935$1,298,409,287

X-33 Total liabilities and net assetsStart of year $1,338,092,247$1,676,572,579

Part XI · Reconciliation of net assets $1,298,409,287 net assets at year end

XI-1 Total revenue$271,514,090

XI-2 Total expenses$265,668,880

XI-3 Revenue less expenses$5,845,210

XI-4 Net assets at start of year$1,008,561,935

XI-5 Net unrealized gains (losses) on investments$80,310,692

XI-9 Other changes in net assets$203,691,450

XI-10 Net assets at end of year$1,298,409,287

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Health First Shared Services INC FY2021 filing

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