Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $63,435

• 2a · Program service revenue: Affiliate Admin Fees

  total $3,955,534 · related or exempt $3,955,534

• 3 · Investment income

  total $388,179 · excluded $388,179

• 7a · Gross sales of assets other than inventory

  securities $176,261

• 7b · Less cost or other basis and sales expenses

  securities $162,549

• 7c · Gain or loss

  securities $13,712

• 7d · Net gain or loss

  total $13,712 · excluded $13,712

• 8a · Fundraising events: gross income

  $2,652

• 8b · Fundraising events: direct expenses

  $169

• 8c · Net income from fundraising events

  total $2,483 · excluded $2,483

• 10a · Gross sales of inventory

  $122,205

• 10b · Cost of goods sold

  $154,107

• 10c · Net income from sales of inventory

  total -$31,902 · related or exempt -$31,902

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $26,535 · program services $26,535

• 5 · Compensation of officers, directors and key employees

  total $1,344,097 · program services $1,180,869 · management and general $163,228

• 7 · Other salaries and wages

  total $2,646,733 · program services $2,256,480 · management and general $311,907 · fundraising $78,346

• 8 · Pension plan contributions

  total $20,692 · program services $17,767 · management and general $2,456 · fundraising $469

• 9 · Other employee benefits

  total $235,828 · program services $202,255 · management and general $27,957 · fundraising $5,616

• 10 · Payroll taxes

  total $231,536 · program services $197,396 · management and general $27,286 · fundraising $6,854

• 11a · Fees: management

  total $39,696 · management and general $39,696

• 11f · Fees: investment management

  total $120,697 · management and general $120,697

• 11g · Fees: other

  total $26,080 · program services $26,080

• 13 · Office expenses

  total $6,403 · management and general $814 · fundraising $5,589

• 17 · Travel

  total $1,252 · program services $1,115 · fundraising $137

• 22 · Depreciation, depletion and amortization

  total $5,125 · management and general $5,125

• 24a · Other expenses: Provision for Bad Debts

  total $398,260 · program services $398,260

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $59,110 · end of year $78,804

• 2 · Savings and temporary cash investments

  beginning of year $522,374 · end of year $549,163

• 3 · Pledges and grants receivable

  beginning of year $61,200 · end of year $40,000

• 4 · Accounts receivable

  beginning of year $11,700 · end of year $9,784

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,748 · end of year $3,200

• 10a · Land, buildings and equipment: cost or other basis

  $65,000

• 10b · Land, buildings and equipment: accumulated depreciation

  $38,440

• 10c · Land, buildings and equipment, net

  beginning of year $31,685 · end of year $26,560

• 11 · Investments: publicly traded securities

  beginning of year $5,707,960 · end of year $6,189,283

• 12 · Investments: other securities

  beginning of year $1,829,054 · end of year $1,966,460

• 13 · Investments: program-related

  beginning of year $1,066,693 · end of year $1,066,693

• 15 · Other assets

  beginning of year $1,397,869 · end of year $1,440,917

• 17 · Accounts payable and accrued expenses

  beginning of year $703,292 · end of year $784,734

• 25 · Other liabilities

  beginning of year $254,920 · end of year $228,591

• 27 · Net assets without donor restrictions

  beginning of year $4,552,724 · end of year $5,543,498

• 28 · Net assets with donor restrictions

  beginning of year $5,180,457 · end of year $4,814,041

The filer's explanations (Part III)

Part I, Line 4b

Holyoke Medical Center adopted a 457(f) non-qualified deferred compensation plan that became effective as of July 1, 2017. The Plan allows for eligible individuals and employees of the Medical Center to receive benefits under the Plan until the attainment of age 65. Non-elective contributions made for a Plan participant are tracked and will vest separately based on anniversaries of participants' employment. Each contribution will be 0% vested until the participant reaches the end of their second year of employment after each contribution. Each contribution will become 100% vested as of the last day of the 2nd year of a participant's employment, if the participant is still employed on that date. Only eligible employees are participants in the plan, and the plan does not allow for employee elective deferrals or employer matches. For the 2022 Tax Year, the following listed individuals received 457(f) contributions under the plan: Spiros Hatiras, $48,870; Carl Cameron, $28,000; Beverly Fein, $16,351; and Avadhoot S. Gokhale, $18,207.