Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
SPECTRUM HEALTH SYSTEM GROUP RETURN
 
Employer identification number
61-1740292
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A MICHIGAN STATE HOSPITAL FINANCE AUTHORITY
  		38-2889417 59465E7F4 11-10-2004 10,000,000 CAPITAL FUNDING   X   X X  
B KENT HOSPITAL FINANCING AUTHORITY (2008A & 2008B)
  		38-2350002 490580CW5 04-15-2008 471,211,001 2001B, 2007A & 2007B REFUNDING BOND   X   X   X
C KENT HOSPITAL FINANCING AUTHORITY (2008C)
  		38-2350002 490580CY1 09-09-2008 67,200,000 1998B REFUNDING BOND   X   X X  
D KENT HOSPITAL FINANCING AUTHORITY (2011AB)
  		38-2350002 490580DQ7 06-22-2011 212,859,639 2005B & 2008B1 REVENUE REFUNDING BONDS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired ................. 1,719,553 343,406,526 4,600,000 13,772,023
2 Amount of bonds legally defeased ........... 0 0 0 0
3 Total proceeds of issue .................. 2,700,000 471,211,001 67,200,000 212,859,639
4 Gross proceeds in reserve funds ............ 0 0 0 0
5 Capitalized interest from proceeds ............ 0 13,556,465 0 0
6 Proceeds in refunding escrows ............ 0 0 0 0
7 Issuance costs from proceeds ............ 32,486 2,528,820 0 1,359,065
8 Credit enhancement from proceeds ............ 0 0 0 0
9 Working capital expenditures from proceeds ............ 0 0 0 0
10 Capital expenditures from proceeds ............ 2,667,512 0 0 50,000,574
11 Other spent proceeds ............ 0 455,125,715 67,200,000 161,500,000
12 Other unspent proceeds ............ 0 0 0 0
13 Year of substantial completion ............ 2005 2008 2008 2010
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? .....   X X   X   X  
15 Were the bonds issued as part of an advance refunding issue? ....   X   X   X   X
16 Has the final allocation of proceeds been made? ............ X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? ............ X   X   X   X  


Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .......   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ........   X   X   X   X
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
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Schedule K (Form 990) 2013
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............ X   X   X   X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X   X   X  
c Are there any research agreements that may result in private business use of bond-financed property? .................. X   X   X   X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X   X   X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ..... SchKMediumBullet 0 % 0 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ..........SchKMediumBullet 0 % 0 % 0 % 0 %
6 Total of lines 4 and 5 ............ 0 % 0 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? ....   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?............   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? ............                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ....... 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? .....   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .....                
b Exception to rebate? .....                
c No rebate due? ....... X   X   X   X  
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? .... X   X   X   X  
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider .....  
  		 
  		 
  		 
 
c Term of hedge ......... 0 % 0 %    
d Was the hedge superintegrated? .....                
e Was the hedge terminated? ........                
Schedule K (Form 990) 2013
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Schedule K (Form 990) 2013
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Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider ........  
  		 
  		 
  		 
 
c Term of GIC ........ 0 % 0 %    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ......       X        
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? ..... X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
SCHEDULE K, PART I, TAX EXEMPT BONDS BONDS ARE ISSUED ON BEHALF OF AN OBLIGATED GROUP AND DESIGNATED AFFILIATES UNDER THE 1998 MASTER TRUST INDENTURE (MTI). ALL OBLIGATED GROUP MEMBERS AND/OR DESIGNATED AFFILIATES ARE PART OF THE SAME HEALTH SYSTEM AND ARE TAX-EXEMPT 501(C)(3) CHARITABLE ORGANIZATIONS. THE 2014AB BOND IS ATTRIBUTABLE TO THREE LEGAL ENTITIES WITHIN THE OBLIGATED GROUP: *SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) *NEWAYGO COUNTY GENERAL HOSPITAL ASSOCIATION (EIN 38-1359517) *ZEELAND COMMUNITY HOSPITAL (EIN 38-1411184) THE 2012AB BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY WITHIN THE OBLIGATED GROUP: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2011C BOND IS ATTRIBUTABLE TO TWO LEGAL ENTITIES WITHIN THE OBLIGATED GROUP: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) * SPECTRUM HEALTH UNITED (EIN 38-1358412) THE 2011AB BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY WITHIN THE OBLIGATED GROUP: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2008C BOND IS ATTRIBUTABLE TO FOUR LEGAL ENTITIES WITHIN THE OBLIGATED GROUP: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) * SPECTRUM HEALTH CONTINUING CARE CENTER (EIN 38-3242232) * SPECTRUM HEALTH CONTINUING CARE (EIN 38-2415333) * SPECTRUM HEALTH WORTH SERVICES (EIN 38-2786617) THE 2008AB BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY WITHIN THE OBLIGATED GROUP: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529)
SCHEDULE K, PART I, TAX EXEMPT BONDS THE MICHIGAN HEALTH & HOSPITAL ASSOCIATION SERVICE CORPORATION AND THE MICHIGAN STATE HOSPITAL FINANCE AUTHORITY OFFER THE HEALTHCARE LOAN PROGRAM (HELP). HELP IS A POOLED, TAX-EXEMPT FINANCING PROGRAM THAT INVOLVES A NUMBER OF HEALTH CARE ORGANIZATIONS PARTICIPATING IN A SINGLE PUBLIC FINANCING AND SHARING IN THE PROCEEDS AND COSTS ASSOCIATED WITH THAT FINANCING. THE PROGRAM TAKES ADVANTAGE OF ECONOMIES OF SCALE THROUGH GROUP PARTICIPATION, ALLOWING EACH BORROWER TO ACCESS LOW COST FINANCING WITHOUT INDIVIDUALLY INCURRING ALL OF THE TRANSACTION COSTS ASSOCIATED WITH PUBLIC FINANCING. THE ISSUE PRICE OF THE HELP LOAN, IN PART I OF SCHEDULE K, REPRESENTS THE ENTIRE AMOUNT OF THE ISSUE AND IS NOT REFLECTIVE OF THE ORGANIZATION'S PORTION OF THE LOAN. THE AMOUNTS REPORTED ON LINE 1(E) REPRESENT THE ENTIRE BOND ISSUE, WHILE THE AMOUNTS IN PART II RELATE TO THE PORTION OF THE MICHIGAN STATE HOSPITAL FINANCE AUTHORITY BOND ALLOCATED TO NEWAYGO COUNTY GENERAL HOSPITAL ASSOCIATION (EIN 38-1359517).
SCHEDULE K, PART I, TAX EXEMPT BONDS THE MASON COUNTY HOSPITAL FINANCE AUTHORITY BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY: *MEMORIAL MEDICAL CENTER OF WEST MICHIGAN (EIN 38-1359266)
SCHEDULE K, PART IV, LINE 2C, ISSUER NAME: KENT HOSP FIN AUTH (2008A&B): NO REBATE DUE THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON JULY 15, 2009.
Sch K, Part IV, Line 2c, ISSUER NAME: Kent Hospital Financing Authority (2011AB): No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON AUGUST 13, 2012.
Sch K, Part IV, Line 2c, ISSUER NAME: Kent Hospital Financing Authority (2011C): No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON AUGUST 13, 2012.
Sch K, Part IV, Line 2c, ISSUER NAME: Kent Hospital Financing Authority (2008C): No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON JULY 15, 2009.
Sch K, Part IV, Line 2c, ISSUER NAME: Kent Hospital Financing Authority (2012AB): No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON AUGUST 13, 2012.
Sch K, Part IV, Line 2c, ISSUER NAME: Michigan State Hospital Finance Authority: No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON SEPTEMBER 22, 2004.
Sch K, Part IV, Line 2c, ISSUER NAME: Kent Hospital Finance Authority (2014AB): No Rebate Due. THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON JUNE 18, 2014.
Schedule K (Form 990) 2013

Additional Data


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