Summit Medical Group, INC. DBA st. Elizabeth physicians ("sep"), is a multi-specialty physician organization, dedicated to physician directed delivery of quality Medical care in the northern kentucky, southern ohio, and southern indiana areas. Sep provides quality health care to all patients regardless of their ability to pay.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$15.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $7.7M a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$15.5M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: -0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $81
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$213.4M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 17 voting members
Concern: none of 17 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$548.3M
+12% vs prior year
Spent
$547.1M
To programs
83%
Net assets
$21.2M
By yearFY2020–FY2024
Revenue
$548.3M
FY2024▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$361.5M
FY2021$425.3M
FY2022$459.6M
FY2023$488.8M
FY2024$548.3M
Expenses
$547.1M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$368.0M
FY2021$432.1M
FY2022$460.7M
FY2023$514.2M
FY2024$547.1M
Net assets
$21.2M
FY2024▲ ×52
Tap a bar for its year
Net assets by fiscal year
FY2020−$12.8M
FY2021−$2.8M
FY2022$6.1M
FY2023−$426K
FY2024$21.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1998.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $454.5M Management & general 17% · $92.6M

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

29 people listed on the 990; $15.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
Physician
$1,567,729Pt VII · Sec A
$1,502,584Pt VII · Sec A
$1,297,012Pt VII · Sec A
$1,276,276Pt VII · Sec A
$1,189,381Pt VII · Sec A
Physician/Vice Chair
$961,639Pt VII · Sec A
Physician/Former Executive Medical Director
$838,243Pt VII · Sec A
Former Vice Chair
$743,075Pt VII · Sec A

Neal Moser MD’s $1.6M as Physician is at the 74th percentile of top reported officer pay among 1747 $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

NameFY2024FY2023FY2022FY2021FY2020
William Willmott MD$1,502,584$1,441,904$1,581,021$1,757,228$1,384,110
Neal Moser MD$1,567,729$1,633,417$1,444,833$1,497,330$1,151,380
Ivan Bedoya-Apraez MD$1,297,012—$1,181,106$1,106,756—
Pratish Shah MD$1,276,276$1,192,873$1,198,333——
Colleen Darnell MD$1,189,381$1,181,991—$1,185,751$1,140,402
Alexander Hou MD———$1,181,192—
Anthony Alvarez MD—$1,164,096——$960,321
Lauren Castellini MD——$1,140,457——

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 II6 listed

Programs and updates

Provides quality medical care to all patients, regardless of ability to pay.

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1 program · $454.5M · in their own filed words · FY2024
01

Summit medical group, inc. Dba ST. Elizabeth physicians ("sep") is a multi-specialty physician organization dedicated to physician directed delivery of quality medical care in the northern kentucky, southwestern ohio, and southeastern indiana areas. ST.

$454.5Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$81

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$548.3M
Ln 12
Fees for servicesLn 2g$546.0M
Other incomeLn 4–11$1.2M
Investment incomeLn 3$1.1M
Money outPt IX
$547.1M
Ln 25
Programscol B$454.5M
Managementcol C$92.6M
Owns and owesPt X
$21.2M
net assets · Ln 32
Cash and savingsLn 1–2−$4.9M
Total assetsLn 16$234.6M
LiabilitiesLn 26$213.4M
PeoplePt VI, VII
29
listed · VII A
PaidVII A22
Voting boardVI 1a17
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$68K
Government grantsLn 1e$68K
Noncash giftsLn 1g$0
Fees for servicesLn 2g$546.0M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$1.2M
Total revenueLn 12$548.3M
Assets in detailPt X, end of year
CashLn 1−$4.9M
Cash and savings togetherLn 1–2−$4.9M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$18.1M
Other assetsLn 15$137.7M
Total assetsLn 16$234.6M
LiabilitiesLn 26$213.4M
Net assetsLn 32$21.2M
OperationsPt I, VI
EmployeesI 52,506
VolunteersI 60
Fiscal year endsHeaderDecember
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
LineStart FY24End FY24
Cash and savingsLn 1–2−$6.3M−$4.9M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$11.3M$18.1M
Total assetsLn 16$208.9M$234.6M
LiabilitiesLn 26$209.3M$213.4M
Net assetsLn 32−$426K$21.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$7.8M$5.3M$2.5M$0
Pay of disqualified personsLn 6$2.1M$2.1M$0$0
Other salaries and wagesLn 7$342.3M$295.3M$47.1M$0
Pension plan contributionsLn 8$16.2M$13.8M$2.4M
Other employee benefitsLn 9$40.9M$30.6M$10.3M
Payroll taxesLn 10$17.7M$14.4M$3.2M
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$1.7M$46$1.7M
Accounting feesLn 11c$4K$0$4K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$49.8M$34.7M$15.1M$0
Advertising and promotionLn 12$103K$22K$81K$0
Office expensesLn 13$3.3M$2.5M$828K$0
Information technologyLn 14$2.2M$592K$1.6M$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$24.6M$20.8M$3.8M
TravelLn 17$637K$320K$317K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$215K$55K$160K
InterestLn 20$1K$1K$196$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$6.2M$4.4M$1.8M$0
InsuranceLn 23$5.4M$4.8M$616K
Other expenses (24a–d)Ln 24$25.6M$24.4M$1.2M$0
All other expensesLn 24e$385K$378K$7K$0
Total functional expensesLn 25$547.1M$454.5M$92.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $548.3M$547.1M$1.2M$21.2M 990 PDF
FY2023 $488.8M$514.2M−$25.4M−$426K 990 PDF
FY2022 $459.6M$460.7M−$1.1M$6.1M 990 PDF
FY2021 $425.3M$432.1M−$6.9M−$2.8M 990 PDF
FY2020 $361.5M$368.0M−$6.5M−$12.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $548,332,119 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $130,175$67,923
I-9 Program service revenuePrior year $488,090,274$546,012,236
I-10 Investment incomePrior year $529,436$1,088,100
I-11 Other revenuePrior year $61,314$1,163,860
I-12 Total revenuePrior year $488,811,199$548,332,119
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $396,148,907$426,990,882
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $118,094,418$120,102,926
I-18 Total expensesPrior year $514,243,325$547,093,808
I-19 Revenue less expensesPrior year −$25,432,126$1,238,311
Part VI · Governance 0 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members0
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 $548,332,119 across 13 lines filed
Lines not itemized here account for $542,554 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1d Related organizations$0
VIII-1e Government grants$67,923
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$67,923
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $545,469,682$545,469,682
VIII-3 Investment incomeExcluded from tax $1,088,100$1,088,100
VIII-5 RoyaltiesRelated to mission $0$0
VIII-6 Net rental income or lossExcluded from tax $1,163,860$1,163,860
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $546,012,236 · Unrelated business $0 · Excluded from tax $2,251,960$548,332,119
Part IX · Statement of functional expenses $547,093,808 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $5,266,958 · Management $2,531,795 · Fundraising $0$7,798,753
IX-6 Pay of disqualified personsPrograms $2,076,486 · Management $0 · Fundraising $0$2,076,486
IX-7 Other salaries and wagesPrograms $295,285,711 · Management $47,056,613 · Fundraising $0$342,342,324
IX-8 Pension plan contributionsPrograms $13,797,896 · Management $2,417,619$16,215,515
IX-9 Other employee benefitsPrograms $30,614,889 · Management $10,276,616$40,891,505
IX-10 Payroll taxesPrograms $14,434,590 · Management $3,231,709$17,666,299
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $46 · Management $1,695,143$1,695,189
IX-11c Accounting feesPrograms $0 · Management $3,500 · Fundraising $0$3,500
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $34,737,031 · Management $15,061,570 · Fundraising $0$49,798,601
IX-12 Advertising and promotionPrograms $21,993 · Management $80,722 · Fundraising $0$102,715
IX-13 Office expensesPrograms $2,495,239 · Management $828,286 · Fundraising $0$3,323,525
IX-14 Information technologyPrograms $591,539 · Management $1,631,220 · Fundraising $0$2,222,759
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $20,827,857 · Management $3,750,994$24,578,851
IX-17 TravelPrograms $319,828 · Management $317,393$637,221
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $55,236 · Management $160,171$215,407
IX-20 InterestPrograms $1,296 · Management $196 · Fundraising $0$1,492
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $4,403,122 · Management $1,777,516 · Fundraising $0$6,180,638
IX-23 InsurancePrograms $4,790,255 · Management $616,399$5,406,654
IX-24 Other expenses (24a–d)Programs $24,393,902 · Management $1,157,711 · Fundraising $0$25,551,613
IX-24e All other expensesPrograms $378,246 · Management $6,515 · Fundraising $0$384,761
IX-25 Total functional expensesPrograms $454,492,120 · Management $92,601,688 · Fundraising $0$547,093,808
Part X · Balance sheet $234,616,272 assets, 15 lines filed
Asset lines not itemized here account for $45,201,097; see the IRS return.
X-1 Cash, non-interest-bearingStart of year −$6,277,861−$4,944,476
X-4 Accounts receivableStart of year $25,401,532$22,384,990
X-8 Inventories for sale or useStart of year $53,949$42,625
X-9 Prepaid expenses and deferred chargesStart of year $2,089,656$1,792,848
X-10c Land, buildings and equipment, netStart of year $11,328,456$18,088,761
X-11 Publicly traded securitiesStart of year $0$0
X-14 Intangible assetsStart of year $14,653,539$14,302,539
X-15 Other assetsStart of year $127,836,691$137,747,888
X-16 Total assetsStart of year $208,890,607$234,616,272
X-17 Accounts payable and accrued expensesStart of year $86,734,496$81,320,195
X-25 Other liabilitiesStart of year $122,581,828$132,120,804
X-26 Total liabilitiesStart of year $209,316,324$213,440,999
X-27 Net assets without donor restrictionsStart of year −$425,717$21,175,273
X-32 Total net assets or fund balancesStart of year −$425,717$21,175,273
X-33 Total liabilities and net assetsStart of year $208,890,607$234,616,272
Part XI · Reconciliation of net assets $21,175,273 net assets at year end
XI-1 Total revenue$548,332,119
XI-2 Total expenses$547,093,808
XI-3 Revenue less expenses$1,238,311
XI-4 Net assets at start of year−$425,717
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$20,362,679
XI-10 Net assets at end of year$21,175,273

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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