GEORGETOWN HOSPITAL SYSTEM

EIN: 020598440 501(c)(3) Health Care

Georgetown, SC

Total Revenue
$209,535,740
Total Expenses
$267,914,359
Total Assets
$614,365,253
Net Assets
$111,508,904
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
SC
Phone
8435208617
Tax Period
2023-10-01 to 2024-09-30

GEORGETOWN HOSPITAL SYSTEM, founded in 2002, is a major nonprofit in the Health Care sector that reported $209.5M in total revenue in fiscal year 2023. Revenue surged 133% from the prior year, signaling strong growth momentum. Expenses of $267.9M exceeded revenue, resulting in a 28% operating deficit.

Mission

GEORGETOWN HOSPITAL SYSTEM IS COMMITTED TO PROVIDING HIGH QUALITY HEALTHCARE TO THE CITIZENS OF GEORGETOWN COUNTY AND SURROUNDING AREAS. OUR MISSION IS TO CONTINUOUSLY IMPROVE THE CARE WE ARE ABLE TO RENDER TO EXCEED THE EXPECTATIONS OF OUR PATIENTS AND CUSTOMERS.

Program Service Accomplishments

Program 1
Expenses: $154,271,560 Revenue: $168,608,603

TO ASSIST IN THE PROVISION OF HEALTH CARE TO RESIDENTS OF GEORGETOWN COUNTY BY PROVIDING PAYROLL AND MANAGEMENT SERVICES TO WACCAMAW COMMUNITY HOSPITAL AND GEORGETOWN MEMORIAL HOSPITAL, BOTH...

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TO ASSIST IN THE PROVISION OF HEALTH CARE TO RESIDENTS OF GEORGETOWN COUNTY BY PROVIDING PAYROLL AND MANAGEMENT SERVICES TO WACCAMAW COMMUNITY HOSPITAL AND GEORGETOWN MEMORIAL HOSPITAL, BOTH 501(C)(3) TAX EXEMPT HOSPITALS. In addition to the above services, THE PROGRAM SERVICE REVENUE RECORDED ON PAGE 9 OF THE FORM 990, AS WELL AS THE FUNCTIONAL EXPENSES ON PAGE 10, REPRESENTS THE ACTIVITIES OF GEORGETOWN PHYSICIAN SERVICES, LLC, GHS Transitional Care LLC, Tidelands Health Market Common LLC, and Tidelands Health ASC WHOLLY-OWNED DISREGARDED NONPROFIT ENTITies.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $33,267
Program Service Revenue $162,316,765
Investment Income $4,049,792
Other Revenue $43,135,916
TOTAL REVENUE $209,535,740

Expense Breakdown

Grants Paid $244,178
Salaries & Benefits $140,226,838
Fundraising Expenses $48,001
Program Expenses $154,271,560
Other Expenses $127,443,343
TOTAL EXPENSES $267,914,359

Year-over-Year Comparison

2023 2022 Change
Revenue $209,535,740 $89,905,859 +1.3%
Expenses $267,914,359 $109,159,488 +1.5%
Net Income $-58,378,619 $-19,253,629 +2.0%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
23
Independent Members
18
Employees
2735
Volunteers
83

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$2,357,087
Total Directors
23
$1,215,373
Key Employees
0
$0
Highest Compensated
6
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mr Daniel Scheffing Vice Chairman 2.0
Officer Director
$0 $0 $0
Mr J Edward Norris III Chairman 2.0
Officer Director
$0 $0 $0
Mr Julian A Reynolds Jr Secretary/Treasurer 2.0
Officer Director
$0 $0 $0
Dr Christopher Bach Trustee & Physician 42.0
Director Highest
$1,116,604 $29,091 $1,145,695
Dr Christine Gerber Trustee & Physician 2.0
Director
$0 $0 $18,096
Dr Desmond Young Vice Chief of Staff & Physician 2.0
Director
$0 $0 $26,408
Dr Eugene Hong Trustee 2.0
Director
$0 $0 $0
Dr Marthena Morant Trustee 2.0
Director
$0 $0 $0
Dr Michael J Ratliffe Chief of Staff & Physician 2.0
Director
$0 $0 $25,174
Dr Patrick Cawley Trustee 2.0
Director
$0 $0 $0
Dr Paul Davis Trustee 2.0
Director
$0 $0 $0
Mr Dan Stacy Jr Trustee 2.0
Director
$0 $0 $0
Mr Francis B Ford Jr Trustee 2.0
Director
$0 $0 $0
Mr Mark Nash Trustee 2.0
Director
$0 $0 $0
Mr Matthew Severance Trustee 2.0
Director
$0 $0 $0
Mr Michael Stavrinakis Trustee 2.0
Director
$0 $0 $0
Mr Robert L Jones Trustee 2.0
Director
$0 $0 $0
Mr Tony Jordan Trustee 2.0
Director
$0 $0 $0
Mr Willie Shelley Jr Trustee 2.0
Director
$0 $0 $0
Ms Judith K Ingle Trustee 2.0
Director
$0 $0 $0
Ray Funnye Trustee 2.0
Director
$0 $0 $0
The Honorable James T Battle Jr Trustee 2.0
Director
$0 $0 $0
Tony Cox Trustee 2.0
Director
$0 $0 $0
Bruce Bailey President & CEO 40.0
Officer
$699,234 $33,807 $733,041
Elizabeth Ward Executive Vice President & CFO 40.0
Officer
$497,045 $31,588 $528,633
Gayle Resetar EXECUTIVE VICE PRESIDENT & COO 40.0
Officer
$467,602 $23,093 $490,695
Phil Dulberger Executive Vice President & Chief Physician Executive 40.0
Officer
$575,241 $29,477 $604,718
Dr Catherine Burbage Physician 40.0
Highest
$1,325,062 $29,541 $1,354,603
Dr Jesse Lewis Physician 40.0
Highest
$1,056,548 $34,407 $1,090,955
Dr Malcom Eggart Physician 40.0
Highest
$1,265,184 $33,836 $1,299,020
Dr Nitesh J Ainani Physician 40.0
Highest
$1,239,236 $19,899 $1,259,135
William Greer Physician 40.0
Highest
$1,136,659 $29,377 $1,205,561
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $209,535,740 $267,914,359 $614,365,253 $-58,378,619
2023 $89,905,859 $109,159,488 $107,401,946 $-19,253,629
2022 $54,013,059 $108,906,224 $75,752,036 $-54,893,165
2021 $78,168,035 $92,923,417 $75,419,606 $-14,755,382
2020 $46,360,076 $73,796,179 $43,347,799 $-27,436,103
2019 $33,236,857 $56,969,713 $29,916,069 $-23,732,856
2018 $41,610,588 $48,029,565 $29,027,760 $-6,418,977
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