Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $345,914

• 2a · Program service revenue: Patient Service Revenue

  total $23,027,640 · related or exempt $23,027,640

• 2b · Program service revenue: Clinical and Other Revenue

  total $3,832,373 · related or exempt $3,832,373

• 2c · Program service revenue: Education and Research

  total $476,204 · related or exempt $476,204

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

  total $542,331 · excluded $542,331

• 7a · Gross sales of assets other than inventory

  securities $6,627,763

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

  securities $7,345,073

• 7c · Gain or loss

  securities -$717,310

• 7d · Net gain or loss

  total -$717,310 · excluded -$717,310

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $74,900 · program services $74,900

• 5 · Compensation of officers, directors and key employees

  total $13,065,013 · program services $13,065,013

• 7 · Other salaries and wages

  total $7,111,700 · program services $4,888,609 · management and general $2,223,091

• 8 · Pension plan contributions

  total $1,971,144 · program services $1,971,144

• 9 · Other employee benefits

  total $235,467 · program services $235,467

• 10 · Payroll taxes

  total $400,650 · program services $399,741 · management and general $909

• 11b · Fees: legal

  total $42,840 · management and general $42,840

• 11c · Fees: accounting

  total $17,784 · management and general $17,784

• 11g · Fees: other

  total $75,911 · management and general $75,911

• 13 · Office expenses

  total $1,006,826 · program services $1,005,233 · management and general $1,593

• 16 · Occupancy

  total $634,948 · program services $634,948

• 19 · Conferences, conventions and meetings

  total $84,101 · program services $84,101

• 22 · Depreciation, depletion and amortization

  total $39,046 · program services $39,046

• 23 · Insurance

  total $434,779 · program services $403,035 · management and general $31,744

• 24a · Other expenses: BCH Tax

  total $921,106 · program services $921,106

• 24b · Other expenses: PO management services

  total $677,311 · program services $677,311

• 24c · Other expenses: Billing expense

  total $470,364 · program services $470,364

• 24d · Other expenses: Co-ordinated specialty

  total $364,886 · program services $364,886

• 24e · All other expenses

  total $48,140 · program services $48,140

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,004,590 · end of year $1,032,305

• 2 · Savings and temporary cash investments

  beginning of year $897,323 · end of year $2,362,025

• 4 · Accounts receivable

  beginning of year $2,430,657 · end of year $3,007,538

• 5 · Loans and receivables from officers and key people

  beginning of year $40,000 · end of year $265,381

• 7 · Other notes and loans receivable

  beginning of year $510,382 · end of year $140,001

• 9 · Prepaid expenses and deferred charges

  beginning of year $140,618 · end of year $137,848

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

  $392,337

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

  $212,505

• 10c · Land, buildings and equipment, net

  beginning of year $189,434 · end of year $179,832

• 11 · Investments: publicly traded securities

  beginning of year $29,476,336 · end of year $32,098,169

• 15 · Other assets

  beginning of year $909,205 · end of year $1,084,188

• 17 · Accounts payable and accrued expenses

  beginning of year $1,453,179 · end of year $1,337,639

• 18 · Grants payable

  beginning of year $712,470

• 25 · Other liabilities

  beginning of year $13,943,392 · end of year $18,115,908

• 27 · Net assets without donor restrictions

  beginning of year $19,312,267 · end of year $18,952,144

• 28 · Net assets with donor restrictions

  beginning of year $2,177,237 · end of year $1,901,596

The filer's explanations (Part III)

Part I, Line 1a

The Foundation provides gross-up payments for long-term disability insurance and parking. These payments are included as taxable wages during the year. All permanent full-time employees of the Foundation are eligible for the gross-up payments.

Part I, Line 4b

Effective July 1, 1993, and as amended and restated as of January 1, 2013, the Foundation established a Severance Benefit Plan to supplement benefits available to certain eligible employees, and to encourage such employees to remain in employment with the Foundation. Participation, benefit amounts, and other key provisions of this non-qualified benefit plan are determined at the sole discretion of the Foundation's Board of Directors. As of September 30, 2024, the Foundation had not incurred any expenses or made any contributions under this plan.

Part I, Line 7

Bonus compensation amounts are determined by the Compensation Committee of the Board of Children's Medical Center Corporation and Boston Children's Hospital (the Hospital). The amounts are discretionary based on job performance.