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Nonprofiteer
← USC VERDUGO HILLS HOSPITAL FOUNDATION

Form 990 for tax year 2023

Filed by USC VERDUGO HILLS HOSPITAL FOUNDATION.

Totals

Total revenue
$1,708,520
Total expenses
$1,308,571
Contributions and grants received
$1,400,148
Grants paid
$1,237,716
Program service revenue
$0
Investment income
$326,039
Other revenue
-$17,667
Total assets, end of year
$13,235,165
Total liabilities, end of year
$149,211
Net assets or fund balances, end of year
$13,085,954
Program services expenses (Part IX)
$1,237,716
Management and general expenses
$26,245
Fundraising expenses
$44,610
Program service expenses (Part III)
$1,237,716

Program services were 94.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $347,995

  • 1f · All other contributions, gifts and grants

    $1,052,153

  • 3 · Investment income

    total $326,039 · excluded $326,039

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $147,580

  • 8a · Fundraising events: contributions included on line 1c

    $347,995

  • 8b · Fundraising events: direct expenses

    $165,247

  • 8c · Net income from fundraising events

    total -$17,667 · excluded -$17,667

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,237,716 · program services $1,237,716

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $26,245 · program services $0 · management and general $26,245 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: MEALS AND ENTERTAINMENT

    total $17,633 · fundraising $17,633

  • 24b · Other expenses: DUES TO ORGANIZATIONS

    total $6,393 · fundraising $6,393

  • 24c · Other expenses: DESIGN AND PRINTING

    total $5,838 · fundraising $5,838

  • 24d · Other expenses: MAILING & POSTAGE

    total $1,979 · fundraising $1,979

  • 24e · All other expenses

    total $12,767 · fundraising $12,767

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $3,266,002 · end of year $777,468

  • 3 · Pledges and grants receivable

    beginning of year $3,508,753 · end of year $3,865,000

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $5,545,813 · end of year $8,440,157

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $152,540 · end of year $152,540

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year -$215,344 · end of year $149,211

  • 27 · Net assets without donor restrictions

    beginning of year $2,497,792 · end of year $3,015,782

  • 28 · Net assets with donor restrictions

    beginning of year $10,190,660 · end of year $10,070,172

Mission and programs · 2023

Mission

TO RAISE FUNDS IN ORDER TO SUPPORT THE OPERATION OF THE USC VERDUGO HILLS HOSPITAL, AN ORGANIZATION EXEMPT UNDER IRC 501(C)(3).

Activities or mission (Part I)

TO RAISE FUNDS IN ORDER TO SUPPORT THE OPERATIONS OF USC VERDUGO HILLS HOSPITAL, AN ORGANIZATION EXEMPT UNDER IRC 501(C)(3).

  • TO EXPAND COMMUNITY AWARENESS OF THE HOSPITAL AND TO RAISE FUNDS TO SUPPORT USC VERDUGO HILLS HOSPITAL THROUGH BOTH FUNDRAISING EVENTS AND DIRECT SOLICITATION. RESTRICTED FUNDS ARE TRANSFERRED IN COMPLIANCE WITH THE DONOR'S REQUEST.

    Expenses $1,237,716 · Grants $1,237,716

As filed on the 2023 return.

Listed in Part VII

  • Dr Armand Dorian

    DIRECTOR/CEO

    Total calculated
    $964,838
    From this org
    $0
    From related orgs
    $852,565
    Other
    $112,273
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $661,404 related
    Bonus
    $0 + $142,227 related
    Other
    $0 + $48,934 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $79,273 related
    Filer's total
    $0 + $964,838 related

  • Tj Malseed

    DIRECTOR

    Total calculated
    $860,593
    From this org
    $0
    From related orgs
    $807,957
    Other
    $52,636
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $599,084 related
    Bonus
    $0 + $141,492 related
    Other
    $0 + $67,381 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $19,636 related
    Filer's total
    $0 + $860,593 related

  • Tarina Kang MD

    DIRECTOR (AS OF 11/28/23)

    Total calculated
    $480,822
    From this org
    $0
    From related orgs
    $401,567
    Other
    $79,255
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,642 related
    Bonus
    $0 + $45,800 related
    Other
    $0 + $9,125 related
    Deferred
    $0 + $32,333 related
    Nontaxable benefits
    $0 + $46,922 related
    Filer's total
    $0 + $480,822 related

  • Kerri Yoder Hubbard

    EXEC.DIR.&PRES(UNTIL 3/15/24)

    Total calculated
    $316,655
    From this org
    $0
    From related orgs
    $235,088
    Other
    $81,567
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $234,188 related
    Bonus
    $0
    Other
    $0 + $900 related
    Deferred
    $0 + $25,190 related
    Nontaxable benefits
    $0 + $56,377 related
    Filer's total
    $0 + $316,655 related

  • Hsiu-Tsing Emily Liang

    SECRETARY

    Total calculated
    $245,735
    From this org
    $0
    From related orgs
    $216,612
    Other
    $29,123
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,772 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $840 related
    Deferred
    $0 + $21,886 related
    Nontaxable benefits
    $0 + $7,237 related
    Filer's total
    $0 + $245,735 related

  • Marcie Sabatella

    DIRECTOR & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tina Marie Ito

    DIRECTOR & CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Rodney Swan

    DIRECTOR & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sue Wilder

    DIRECTOR & IMMED. PAST CHR

    Total calculated
    $0
    Hours/week
    1

  • Amy A Ross PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Chloe Ross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Devinder Gandhi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Houry Aposhian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janet Hamilton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Blake

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joel Fried

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Battaglia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kate Kaneko

    DIRECTOR (UNTIL 2/6/24)

    Total calculated
    $0
    Hours/week
    1

  • Matt Merna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Narbeh Tovmassian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Chraghchian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard W Cook

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robin Dorman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robin Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Carr

    DIRECTOR (AS OF 7/25/23)

    Total calculated
    $0
    Hours/week
    1

  • Ted M Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • The Honorable Thad Gembacz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Atamian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
THE ORGANIZATION RELIES ON THE USC HEALTH SYSTEM, A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION OF THE PRESIDENT IN THE PROCESS DESCRIBED AS FOLLOWS. THE COMPENSATION IS DETERMINED ANNUALLY USING THE SAFE HARBOR PROCESS DESCRIBED IN TREASURY REGULATION SECTION 53.4958-6. NAMELY, A COMMITTEE OF THE USC HEALTH SYSTEM'S BOARD OF DIRECTORS TAKES THE FOLLOWING THREE STEPS: (1) IT ENSURES THAT NO MEMBER OF THE COMMITTEE HAS A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT BEING REVIEWED, (2) IT LOOKS TO COMPARABILITY DATA AND SPECIALIZED COMPENSATION REPORTS (AND IN SOME CASES OPINIONS) PREPARED FOR THE USC HEALTH SYSTEM BY COMPENSATION CONSULTANTS WITH RESPECT TO SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILARLY SITUATED HEALTHCARE ORGANIZATIONS, AND (3) IT MAINTAINS A CONTEMPORANEOUS RECORD OF ITS DELIBERATIONS AND DECISIONS.
SCHEDULE J, PART I, LINE 4(B)
OTHER: IN 1994 USC CREATED A SECTION 457(F) SUPPLEMENTAL RETIREMENT PLAN TO PROVIDE MAKE-UP BENEFITS TO EMPLOYEES WHOSE COMPENSATION EXCEEDS THE EARNINGS LIMITATION FOR CONTRIBUTIONS TO THE USC DEFINED CONTRIBUTION RETIREMENT PLAN. AS OF JANUARY 1, 2005, THE PLAN WAS FROZEN AND PARTICIPANTS, WITH RESPECT TO FUTURE MAKE-UP BENEFITS, WERE NO LONGER PERMITTED TO DEFER THESE BENEFITS.
SCHEDULE J, PART II
THE INDIVIDUALS REPORTED AS RECEIVING COMPENSATION FROM A RELATED ORGANIZATION ARE EMPLOYEES AT THE UNIVERSITY OF SOUTHERN CALIFORNIA, A TAX-EXEMPT RELATED ORGANIZATION AND ARE NOT PAID FOR THEIR ROLES AS OFFICERS AND DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • HM FUND II LP

    INVESTMENTS · NY

    Directly controlled by USC

  • STRIPES V MEADOWS CO-INVEST LP

    INVESTMENTS · NY

    Directly controlled by USC

  • CHATEAU LATOUR SPVI

    INVESTMENTS · CA

    Directly controlled by USC

  • RF-PUMA CO-INVEST

    INVESTMENTS · TN

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MAY ROBERTS DEWRIGHT TRUST

    T · USC SUPPORT · CA

    Directly controlled by NA

  • INTEGRATED DIGITAL ASSET CORPORATION

    C · 3RD PARTY CON · CA

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUSTS (346)

    T · FUNDRAISING · CA

    Directly controlled by NA

  • POOLED INCOME FUND (1)

    T · FUNDRAISING · CA

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST (1)

    T · INVESTMENT · CA · controlled entity

    Directly controlled by USCAHF

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349314958

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