2024-08-09T22:22:57-05:00 2023-09-30 410746749 CLIFTONLARSONALLEN LLP 10700 NORTHUP WAY SUITE 200 BELLEVUE WA 98004 990 2022-10-01 383849354 ASANTE PHYSICIAN PARTNERS ASAN 5417895590 2650 SISKIYOU BLVD MEDFORD OR 97504 HEATHER ROWENHORST CFO 5417895098 2024-08-06 1 1 KURT BENNION CPA P01469618 4252506100 2024-08-06 2022 2024-08-08 14:25:15Z TOM GESSEL 2650 SISKIYOU BLVD MEDFORD OR 97504 63075069 0 X WWW.ASANTE.ORG/PHYSICIANPARTNERS/ X 2011 OR ENHANCE THE QUALITY AND COST-EFFECTIVE DELIVERY OF HEALTHCARE SERVICES IN THE COMMUNITY. 12 0 824 1 65046 0 14428 91031 70516787 62984006 0 5 0 27 70531215 63075069 7000 0 0 0 79436054 78404716 0 0 0 19193091 18776695 98636145 97181411 -28104930 -34106342 28141586 24365596 227523710 257854062 -199382124 -233488466 X ASANTE PHYSICIAN PARTNERS IS A MULTI-SPECIALTY PROVIDER GROUP, WITH APPROXIMATELY 300 PROVIDERS, THAT IS HEADQUARTERED IN MEDFORD, OREGON, AND HAS 27 CLINIC LOCATIONS IN SOUTHERN OREGON. ASANTE PHYSICIAN PARTNERS WAS ESTABLISHED FOR THE PURPOSE OF EMPLOYING AND MANAGING PHYSICIAN PROVIDERS (INCLUDING PRIMARY CARE, SPECIALTY CARE AND MID-LEVEL PROVIDERS) AND PHYSICIAN GROUP PRACTICES DELIVERING MEDICAL PROFESSIONAL SERVICES TO THE RESIDENTS OF ASHLAND, GRANTS PASS, MEDFORD AND SURROUNDING COMMUNITIES IN OREGON. 0 0 30285257 0 22777282 ASANTE PHYSICIAN PARTNERS (APP), ASANTE'S EMPLOYED MEDICAL GROUP, IS A MULTISPECIALTY MEDICAL GROUP ENCOMPASSING 27 UNIQUE CLINIC SITES WITH 212 PHYSICIANS AND 120 ADVANCED PRACTITIONERS. MOST PHYSICIAN PRACTICES, AND IN PARTICULAR SPECIALTY PRACTICES, ARE LOCATED WITHIN THE MORE HEAVILY POPULATED CITIES (MEDFORD, GRANTS PASS, AND ASHLAND) IN THE PRIMARY SERVICE AREA. ASANTE PHYSICIAN PARTNERS SERVED 90,952 INDIVIDUALS WITH A TOTAL OF 297,116 VISITS IN THE FISCAL YEAR ENDING SEPTEMBER 30, 2023. THIS ACCESS IS OF PARTICULAR BENEFIT TO THE UNDERSERVED IN THE COMMUNITY WITH THE VISITS COMPRISED OF 42.5% MEDICARE, 15.7% MEDICAID AND 10.6% UNINSURED PATIENTS. 32801215 0 30352211 ASANTE PHYSICIAN PARTNERS EVALUATES AND PURSUES STRATEGIC ALLIANCES WITH PHYSICIANS AND OTHER PROVIDERS TO IMPROVE AVAILABILITY AND ACCESSIBILITY OF HEALTH CARE SERVICES IN OUR REGION, REDUCE COSTS AND ENHANCE THE QUALITY AND CONTINUITY OF HEALTH CARE SERVICES PROVIDED TO PATIENTS. THESE ALLIANCES INCLUDE JOINT VENTURES, PARTNERSHIPS, SERVICE LINE AGREEMENTS, PHYSICIAN SERVICE AGREEMENTS, PARTICIPATION IN ASANTE HEALTH NETWORK AND OTHER RELATIONSHIPS. DURING FISCAL YEAR 2023, ASANTE PHYSICIAN PARTNERS RECRUITED 39 PROVIDERS TO ASANTE OR ON BEHALF OF ITS ASSOCIATED MEDICAL GROUPS. 18055405 0 9789467 ALL PRIMARY CARE AND SPECIALTY CLINICS HAVE THE CAPABILITY TO OFFER TELEMEDICINE VISITS. TELEMEDICINE VISITS ARE UTILIZED FOR SPECIALTY CONSULTS, POST HOSPITALIZATION VISITS, AND ROUTINE CARE. EXPANSION OF TELEMEDICINE HAS INCREASED PATIENT SATISFACTION AND EASE OF CARE. 81141877 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 824 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 12 0 0 1 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 0 0 0 OR X X HEATHER ROWENHORST 5417895098 2650 SISKIYOU BLVD MEDFORD OR 97504 MEGAN FROST MD MEDICAL DOCTOR & TRUSTEE 40.00 0.00 X 840710 0 28650 JAMES GREBOSKY MD ASANTE SVP & CHIEF MEDICAL & QUALITY 1.00 40.00 X X 0 664614 42000 ERIC LOELIGER MD ATRMC VP MEDICAL AFFAIRS 1.00 40.00 X 0 483404 51800 PETER CANNING MD ASANTE MEDICAL DIRECTOR INFORMATION 1.00 40.00 X 393655 0 19800 SUE HAGAR MD MEDICAL DOCTOR & TRUSTEE 40.00 2.00 X 282418 0 49300 CHRIS MORGAN MD CHAIR, MEDICAL DOCTOR 40.00 0.00 X X 352682 0 37684 JOHN GALLEN MD MEDICAL DOCTOR & TRUSTEE 40.00 0.00 X 331729 0 40839 ELI SAGER MEDICAL DOCTOR & TRUSTEE 40.00 0.00 X 251632 0 45923 DOUG WARD VP OPERATIONS 40.00 0.00 X 226265 0 45415 TOM GESSEL ASANTE CEO 1.00 41.00 X X 0 0 0 PATRICIA WINTEMUTE TRUSTEE 1.00 0.00 X 0 0 0 NICOLE ROTH MD MEDICAL DOCTOR & TRUSTEE 40.00 0.00 X 329867 0 37800 SCOTT KELLY ASANTE CEO (THROUGH FEBRUARY 2023) 1.00 41.00 X 0 1366502 34800 GREG WOJTAL ASANTE CAFO & SECRETARY 1.00 41.00 X 0 793799 41400 ROY VINYARD INTERIM PRESIDENT & CEO 1.00 41.00 X 0 137500 7875 HEATHER ROWENHORST CFO 1.00 41.00 X 0 273290 16945 CHARLES CARMECI MD MEDICAL DOCTOR 40.00 0.00 X 2366740 0 50800 MATTHEW NUGENT MD MEDICAL DOCTOR 40.00 0.00 X 961836 0 44800 GLEN O'SULLIVAN MD MEDICAL DOCTOR 40.00 0.00 X 913749 0 44800 RICHARD NELSON MEDICAL DOCTOR 40.00 0.00 X 879789 0 49800 DONALD STOWELL MD MEDICAL DOCTOR 40.00 0.00 X 1190190 0 28654 9321262 3719109 719085 13 0 1 0 0 78622 12409 91031 INCENTIVE PAYMENTS 900099 57016343 56951297 65046 PHYSICIAN SERVICE REVE 621110 5967663 5967663 62984006 5 5 27 0 27 27 27 63075069 62918960 65046 32 4057027 3322105 734922 56683462 53453920 3229542 3278475 2987668 290807 10820693 7217850 3602843 3565059 3293481 271578 58580 58580 6406475 1584438 4822037 241273 925 240348 219171 214263 4908 1193214 1033743 159471 58272 56963 1309 228898 38624 190274 246676 230179 16497 463081 463081 1824995 1824995 2025044 2025044 MEDICAL SUPPLIES 3921061 3921061 BAD DEBT EXPENSE 1176170 1176170 REPAIRS & MAINTENANCE 346410 341020 5390 MISCELLANEOUS EXPENSES 135700 27510 108190 231675 216913 14762 97181411 81141877 16039534 0 9610 9110 7202603 4786891 0 0 23333 12607 18000 45500 37750648 18734971 20392229 19015677 495811 495811 28141586 24365596 80964 143873 227442746 257710189 227523710 257854062 X -199382124 -233488466 -199382124 -233488466 28141586 24365596 -34106342 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24760072 9007609 15752463 1407917 679505 728412 11582659 9047857 2534802 19015677 BONUS / INCENTIVES PAYABLE 9240330 PAYROLL / BENEFITS PAYABLE 1370026 INTERCOMPANY PAYABLE 247099833 257710189 X PART X, LINE 2: ASANTE HAS RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), EXCEPT FOR UNRELATED BUSINESS INCOME. MANAGEMENT BELIEVES ASANTE IS OPERATED IN A MANNER THAT QUALIFIES FOR TAX-EXEMPT STATUS. INCOME TAXES ARE PROVIDED FOR THE TAX EFFECTS OF TRANSACTIONS RELATED TO ASANTE'S TAX-EXEMPT PURPOSE REPORTED IN THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, SUCH ACTIVITIES ARE NOT SIGNIFICANT TO THE CONSOLIDATED FINANCIAL STATEMENTS. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY ASANTE AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF ASANTE HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED TAX POSITIONS TAKEN BY ASANTE AND HAS CONCLUDED THAT AS OF SEPTEMBER 30, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR AN ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ASANTE IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, NO SUCH AUDITS ARE CURRENTLY IN PROCESS. X X 0 1 0 0 0 0 0 0 0 CHARLES CARMECI MD MEDICAL DOCTOR 2066851 0 299889 0 0 0 18300 0 32500 0 2417540 0 0 0 SCOTT KELLY ASANTE CEO (THROUGH FEBRUARY 2023) 0 959231 0 346800 0 60471 0 18300 0 16500 0 1401302 0 0 DONALD STOWELL MD MEDICAL DOCTOR 1190190 0 0 0 0 0 4154 0 24500 0 1218844 0 0 0 MATTHEW NUGENT MD MEDICAL DOCTOR 809571 0 152265 0 0 0 18300 0 26500 0 1006636 0 0 0 GLEN O'SULLIVAN MD MEDICAL DOCTOR 789100 0 124649 0 0 0 18300 0 26500 0 958549 0 0 0 RICHARD NELSON MEDICAL DOCTOR 771008 0 108781 0 0 0 18300 0 31500 0 929589 0 0 0 MEGAN FROST MD MEDICAL DOCTOR & TRUSTEE 725529 0 115181 0 0 0 9150 0 19500 0 869360 0 0 0 GREG WOJTAL ASANTE CAFO & SECRETARY 0 549943 0 156900 0 86956 0 18300 0 23100 0 835199 0 0 JAMES GREBOSKY MD ASANTE SVP & CHIEF MEDICAL & QUALITY 0 501914 0 158700 0 4000 0 18300 0 23700 0 706614 0 0 ERIC LOELIGER MD ATRMC VP MEDICAL AFFAIRS 0 402562 0 79000 0 1842 0 18300 0 33500 0 535204 0 0 PETER CANNING MD ASANTE MEDICAL DIRECTOR INFORMATION 383871 0 9784 0 0 0 18300 0 1500 0 413455 0 0 0 CHRIS MORGAN MD CHAIR, MEDICAL DOCTOR 344682 0 8000 0 0 0 15984 0 21700 0 390366 0 0 0 JOHN GALLEN MD MEDICAL DOCTOR & TRUSTEE 290027 0 41702 0 0 0 16339 0 24500 0 372568 0 0 0 NICOLE ROTH MD MEDICAL DOCTOR & TRUSTEE 320742 0 9125 0 0 0 18300 0 19500 0 367667 0 0 0 SUE HAGAR MD MEDICAL DOCTOR & TRUSTEE 272918 0 9500 0 0 0 18300 0 31000 0 331718 0 0 0 ELI SAGER MEDICAL DOCTOR & TRUSTEE 213632 0 38000 0 0 0 14423 0 31500 0 297555 0 0 0 HEATHER ROWENHORST CFO 0 273290 0 0 0 0 0 16945 0 0 0 290235 0 0 DOUG WARD VP OPERATIONS 184470 0 41500 0 295 0 15315 0 30100 0 271680 0 0 0 PART I, LINE 3 THE SALARY RANGE OF THE EXECUTIVE DIRECTOR IS SET BY THE ASANTE COMPENSATION COMMITTEE AND IS APPROVED BY THE ASANTE BOARD OF DIRECTORS ON AN ANNUAL BASIS. THE ACTUAL SALARY IS SET BY THE ASANTE CEO. PART I, LINE 4B ASANTE, THE PARENT CORPORATION OF ASANTE PHYSICIAN PARTNERS, HAS AN EXECUTIVE RESTORATION PLAN WHICH INCLUDES ASANTE PRESIDENT & CEO SCOTT KELLY, CMO JAMES GREBOSKY, MD, CAFO GREG WOJTAL, VP OF MEDICAL AFFAIRS ERIC LOELIGER, MD AND VP OF OPERATIONS DOUG WARD. THIS PLAN STATES FIXED PAYMENTS WILL BE RECEIVED AT PRE-DETERMINED INTERVALS FROM ASANTE IF STILL EMPLOYED BY ASANTE IN THEIR CURRENT ROLE AT THE TIME OF VESTING. IF EMPLOYMENT TERMINATES BY ASANTE FOR ANY REASON PRIOR TO VESTING, THEY WILL NOT HAVE CLAIM TO THE FUNDS. SELECT EXECUTIVES OF ASANTE, THE PARENT CORPORATION, AGREED TO PARTICIPATE IN CAP-EX IN PLACE OF A TRADITIONAL SERP. SEE SCHEDULE L, PART V, FOR A BROADER DESCRIPTION. ROY VINYARD FORMER ASANTE CEO SEE PART V X 3000000 5458812 0 1 1 5458812 PART II, COLUMN C: A RELATED ORGANIZATION, ASANTE, PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT AN ACTUAL LOAN--NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. RATHER, THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED RETIREMENT BENEFITS, ASANTE RECOVERS ALL OF ITS OUTLAYS PLUS INTEREST. THE RECOVERY RIGHT IS A KEY ADVANTAGE OF CASD FOR ASANTE. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER CASD ASANTE RECOVERS NOT ONLY ITS OUTLAYS, BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY.CASD WORKS AS FOLLOWS. ASANTE DEPOSITS FUNDS INTO A CASH VALUE LIFE INSURANCE POLICY ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST VALUES IN THE POLICY TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE EO'S RECOVERY RIGHTS.AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY THE CEO ITS DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. ANY REMAINING DEATH PROCEEDS ARE AVAILABLE TO BE PAID TO THE EXECUTIVE'S BENEFICIARY. FORM 990, PART VI, SECTION A, LINE 3 ALL EXECUTIVE SERVICES ARE PROVIDED BY ASANTE, A RELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 6 PER THE BYLAWS THE SOLE MEMBER OF ASANTE PHYSICIAN PARTNERS ("APP") IS ASANTE. FORM 990, PART VI, SECTION A, LINE 7A AS THE SOLE MEMBER, ASANTE HAS THE RIGHT TO ELECT OR REMOVE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B AS THE SOLE MEMBER, ASANTE HAS THE RIGHT TO AMEND THE ARTICLES AND/OR BYLAWS, ADOPT OR MODIFY A STRATEGIC PLAN, ADOPT OR MODIFY THE ANNUAL BUDGET, APPROVE DISSOLUTION/MERGER, ETC. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS A FEDERALLY MANDATED LEGAL DOCUMENT THAT IS HIGHLY REGULATED. BEFORE FINAL SUBMISSION OF THE DOCUMENTS, THEY WERE REVIEWED BY THE DIRECTOR OF FINANCE AND CFO. AFTER SUBMISSION THE FINAL RETURNS WILL BE PRESENTED TO THE APP BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE COMPLIANCE DEPARTMENT OF ASANTE (A DEPARTMENT OF THE PARENT COMPANY OF ASANTE PHYSICIAN PARTNERS), MAILS TO ALL ASANTE PHYSICIAN PARTNERS' MANAGEMENT, KEY EMPLOYEES, AND BOARD MEMBERS A CONFLICT-OF-INTEREST QUESTIONNAIRE TO COMPLY WITH ASANTE'S CONFLICT OF INTEREST POLICY #400-LD-034 AND 036. THE PURPOSE OF THE POLICY IS TO PROTECT ASANTE'S AND ASANTE PHYSICIAN PARTNERS' INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTERESTS OF A BOARD MEMBER OR OFFICER OF THE CORPORATION. IN ADDITION, ALL ASANTE PHYSICIAN PARTNERS' EMPLOYEES HAVE AN OBLIGATION TO DISCLOSE CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS TO THEIR SUPERVISOR. THE ASANTE CHIEF COMPLIANCE OFFICER IS RESPONSIBLE FOR ADMINISTERING, MONITORING, AND INVESTIGATING ANY POSSIBLE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION COMMITTEE OF ASANTE'S BOARD OF DIRECTORS ANNUALLY REVIEWS THE COMPENSATION OF THE CEO AND OTHER KEY EMPLOYEES. THE REVIEW COMPARES THE COMPENSATION OF THE CEO AND OTHER KEY EMPLOYEES WITH COMPENSATION DATA FOR JOB INCUMBENTS IN COMPARABLE POSITIONS AT OTHER HEALTHCARE ORGANIZATIONS OF SIMILAR SIZE AND SCOPE. AT LEAST EVERY THREE YEARS, THE REVIEW IS CONDUCTED AND PRESENTED TO THE COMPENSATION COMMITTEE BY AN OUTSIDE CONSULTANT, CHOSEN BY THE COMPENSATION COMMITTEE. ON ALTERNATE YEARS, THE GENERAL MARKET MOVEMENT IS CONSIDERED AND THE REVIEW IS COMPLETED AND PRESENTED BY THE HUMAN RESOURCES EXECUTIVE. THE COMPENSATION COMMITTEE SETS THE ACTUAL ANNUAL CASH COMPENSATION FOR THE CEO AND SALARY RANGES FOR THE OTHER KEY EMPLOYEES. THE COMMITTEE ALSO SETS TOTAL COMPENSATION OPPORTUNITY FOR THE CEO AND EACH OF THE KEY EMPLOYEES, CONSISTENT WITH THE EXECUTIVE COMPENSATION PHILOSOPHY. MINUTES OF THE COMMITTEE DELIBERATIONS AND DECISIONS ARE RECORDED AND MAINTAINED. THE MOST RECENT EXECUTIVE COMPENSATION REVIEW BY AN OUTSIDE CONSULTANT WAS COMPLETED IN SEPTEMBER 2023 WITH RECOMMENDATIONS PRESENTED TO THE CEO IN DECEMBER 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH EMMA AND AS A COMPONENT OF FILED FORMS 990. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. ASANTE 2650 SISKIYOU BLVD MEDFORD OR 97504 930223960 HEALTHCARE & MANAGEMENT ACTIVITIES OR 501(C)(3) LINE 3 N/A 0 ASANTE FOUNDATION 229 BARTLETT STREET MEDFORD OR 97504 936087366 FUNDRAISING OR 501(C)(3) LINE 12A, I ASANTE 0 SOUTHERN OREGON INSURANCE COMPANY 745 FORT STREET SUITE 800 HONOLULU HI 96813 201578637 CAPTIVE INSURANCE HI 501(C)(3) LINE 12B, II ASANTE 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0