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.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2016
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 Kent Hospital Finance Authority (2011AB)
  		38-2350002 490580DQ7 06-22-2011 212,859,639 2005B & 2008B1 Revenue Refunding Bonds   X   X   X
B Kent Hospital Finance Authority (2011C)
  		38-2350002 490580ED5 11-09-2011 75,511,075 2008B2 Revenue Refunding Bonds   X   X X  
C Kent Hospital Finance Authority (2008C)
  		38-2350002 490580CY1 09-09-2008 67,200,000 1998B Refunding Bond   X   X X  
D Kent Hospital Finance Authority (2012AB)
  		38-2350002 000000000 01-17-2012 112,980,000 2008A1 & 2008B2 Revenue Refunding Bonds   X   X   X
Kent Hospital Finance Authority (2008A & 2008B)
  		38-2350002 490580CW5 04-15-2008 471,211,001 2001B, 2007A & 2007B Refunding Bond   X   X   X
Mason County Hospital Finance Authority (2012A)
  		38-6004870 000000000 06-15-2012 10,000,000 Revenue and Refunding Bonds (2012A)   X   X   X
Kent Hospital Finance Authority (2014AB)
  		38-2350002 000000000 01-15-2014 111,850,000 2008A2 ZCH 2010 Gerber 2002&2007 Revenue Refunding Bonds   X   X X  
Mason County Hospital Finance Authority (2012B)
  		38-6004870 000000000 08-14-2014 8,475,000 2012B Revenue Bond   X   X   X
Kent Hospital Finance Authority (2015A)
  		38-2350002 490580EG8 01-13-2015 78,400,000 Revenue Refunding Bonds   X   X   X
Michigan State Hospital Finance Authority (2003 HELP LOAN)
  		38-2889417 59465E5V1 12-10-2003 13,400,000 Healthcare Equipment   X   X X  
Michigan State Hospital Finance Authority (2006 HELP LOAN)
  		38-2889417 59465HGG5 08-29-2007 7,500,000 Healthcare Equipment   X   X X  
Michigan Finance Authority (2011 HELP LOAN)
  		80-0596186 59447PFB2 06-29-2011 5,750,000 Healthcare Equipment   X   X X  
Michigan Finance Authority (2013 HELP LOAN)
  		80-0596186 59447PXP1 10-10-2013 13,700,000 Healthcare Equipment   X   X X  
Part II
Proceeds
A B C D
1 Amount of bonds retired .................. 30,592,402 0 19,600,000 0
2 Amount of bonds legally defeased .............. 0 0 0 0
3 Total proceeds of issue .................. 212,859,639 75,511,075 67,200,000 112,980,000
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 0 0 0
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 1,359,065 836,075 0 255,000
8 Credit enhancement from proceeds ............. 0 0 0 0
9 Working capital expenditures from proceeds ............. 0 0 0 0
10 Capital expenditures from proceeds ............. 50,000,574 0 0 0
11 Other spent proceeds ............. 161,500,000 74,675,000 67,200,000 112,725,000
12 Other unspent proceeds ............. 0 0 0 0
13 Year of substantial completion ............. 2010 2011 2008 2012
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) 2016

Schedule K (Form 990) 2016
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, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   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 "Yes" to 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 .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
Schedule K (Form 990) 2016

Schedule K (Form 990) 2016
Page 3
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? ........                
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 2015a BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY WITHIN THE OBLIGATED GROUP AND/OR DESIGNATED AFFILIATES: *SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2014AB BOND IS ATTRIBUTABLE TO THREE LEGAL ENTITIES WITHIN THE OBLIGATED GROUP AND/OR DESIGNATED AFFILIATES: *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 AND/OR DESIGNATED AFFILIATES: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2011C BOND IS ATTRIBUTABLE TO TWO LEGAL ENTITIES WITHIN THE OBLIGATED GROUP AND/OR DESIGNATED AFFILIATES: * 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 AND/OR DESIGNATED AFFILIATES: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2008C BOND IS ATTRIBUTABLE TO FOUR LEGAL ENTITIES WITHIN THE OBLIGATED GROUP AND/OR DESIGNATED AFFILIATES: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) * SPECTRUM HEALTH CONTINUING CARE CENTER (EIN 38-2415333) * SPECTRUM HEALTH CONTINUING CARE (EIN 38-3242232) * SPECTRUM HEALTH WORTH SERVICES (EIN 38-2786617) THE 2008AB BOND IS ATTRIBUTABLE TO ONE LEGAL ENTITY WITHIN THE OBLIGATED GROUP AND/OR DESIGNATED AFFILIATES: * SPECTRUM HEALTH HOSPITALS (EIN 38-1360529) THE 2003 HELP LOAN IS ATTRIBUTABLE TO ONE LEGAL ENTITY: *PENNOCK HOSPITAL (EIN 38-1360562) THE 2006 HELP LOAN IS ATTRIBUTABLE TO ONE LEGAL ENTITY: *PENNOCK HOSPITAL (EIN 38-1360562) THE 2011 HELP LOAN IS ATTRIBUTABLE TO ONE LEGAL ENTITY: *PENNOCK HOSPITAL (EIN 38-1360562) THE 2013 HELP LOAN IS ATTRIBUTABLE TO ONE LEGAL ENTITY: *PENNOCK HOSPITAL (EIN 38-1360562)
Schedule K, Part I Tax Exempt Bonds The Mason County Hospital Finance Authority 2012A and 2012B Bonds are Attributable to One Legal Entity: *Memorial Medical Center of West Michigan (EIN 38-1359266) The Mason County Hospital Finance Authority 2012B Bonds were converted from taxable to tax-exempt bonds on August 14, 2014.
Schedule K, Part I, Column (i) Pooled Financing Arrangement THE MICHIGAN STATE HOSPITAL FINANCE AUTHORITY (MSHFA) WAS CREATED BY ACT 38 OF 1969, HOSPITAL FINANCE AUTHORITY ACT FOR THE PURPOSE OF MAKING LOANS TO HEALTHCARE ORGANIZATIONS IN MICHIGAN. MSHFA OFFERS HEALTHCARE EQUIPMENT LOAN PROGRAM (HELP) BOND ISSUES WHICH ARE POOLED LOANS OFFERING ASSISTANCE TO BOTH LARGE INTEGRATED HEALTH DELIVERY SYSTEMS AND A BROAD RANGE OF SMALLER HEALTHCARE PROVIDERS. THE HELP PARTICIPANTS SHARE THE COSTS OF ISSUANCE AND ADMINISTRATIVE FEES AMONG MULTIPLE BORROWERS IN A SINGLE BOND ISSUE. THE AMOUNTS REPORTED ON LINE 1(E) REPRESENT THE ENTIRE BOND ISSUE, WHILE THE AMOUNTS IN PART II, LINE 3 RELATE TO THE PORTION OF THE BONDS ALLOCATED TO PENNOCK HOSPITAL. ANY DIFFERENCE BETWEEN THESE LINES REPRESENTS THE AMOUNT OF BOND PROCEEDS REPORTED ON SCHEDULE K OF OTHER UNAFFILIATED HEALTHCARE PROVIDERS. POOLED FINANCING FOR THE HELP LOANS APPLIES TO THE FOLLOWING BONDS: MICHIGAN STATE HOSPITAL FINANCE AUTHORITY (2003 HELP LOAN) MICHIGAN STATE HOSPITAL FINANCE AUTHORITY (2006 HELP LOAN) MICHIGAN FINANCE AUTHORITY (2011 HELP LOAN) MICHIGAN FINANCE AUTHORITY (2013 HELP LOAN)
Schedule K, Part IV, Line 2c COLUMN A Issuer name: Kent Hospital Finance Authority (2011AB) The calculation for computing no rebate due was performed on 08/13/2012
Schedule K, Part IV, Line 2c COLUMN B Issuer name: Kent Hospital Finance Authority (2011C) The calculation for computing no rebate due was performed on 08/13/2012
Schedule K, Part IV, Line 2c COLUMN C Issuer name: Kent Hospital Finance Authority (2008C) The calculation for computing no rebate due was performed on 07/15/2009
Schedule K, Part IV, Line 2c COLUMN D Issuer name: Kent Hospital Finance Authority (2012AB) The calculation for computing no rebate due was performed on 08/13/2012
Schedule K, Part IV, Line 2c COLUMN A Issuer name: Kent Hospital Finance Authority (2008A & 2008B) The calculation for computing no rebate due was performed on 07/15/2009
Schedule K, Part IV, Line 2c COLUMN B Issuer name: Mason County Hospital Finance Authority (2012A) The calculation for computing no rebate due was performed on 03/09/2015
Schedule K, Part IV, Line 2c COLUMN C Issuer name: Kent Hospital Finance Authority (2014AB) The calculation for computing no rebate due was performed on 06/18/2014
Schedule K, Part IV, Line 2c COLUMN D Issuer name: Mason County Hospital Finance Authority (2012B) The calculation for computing no rebate due was performed on 03/09/2015
Schedule K, Part IV, Line 2c COLUMN A Issuer name: Kent Hospital Finance Authority (2015A) The calculation for computing no rebate due was performed on 06/03/2015
Schedule K, Part IV, Line 2c COLUMN B Issuer name: Michigan State Hospital Finance Authority (2003 HELP LOAN) The calculation for computing no rebate due was performed on 12/10/2003
Schedule K, Part IV, Line 2c COLUMN C Issuer name: Michigan State Hospital Finance Authority (2006 HELP LOAN) The calculation for computing no rebate due was performed on 08/29/2007
Schedule K, Part IV, Line 2c COLUMN D Issuer name: Michigan Finance Authority (2011 HELP LOAN) The calculation for computing no rebate due was performed on 06/29/2011
Schedule K, Part IV, Line 2c COLUMN A Issuer name: Michigan Finance Authority (2013 HELP LOAN) The calculation for computing no rebate due was performed on 10/10/2013
Schedule K (Form 990) 2016

Additional Data


Software ID: 16000421
Software Version: 2016v3.0