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Nonprofiteer
← SHEPPARD PRATT INVESTMENT INC

Form 990 for tax year 2023

Filed by SHEPPARD PRATT INVESTMENT INC.

Totals

Total revenue
$1,796,985
Total expenses
$466,568
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$1,780,207
Other revenue
$16,778
Total assets, end of year
$159,696,015
Total liabilities, end of year
$1,924,744
Net assets or fund balances, end of year
$157,771,271
Program services expenses (Part IX)
$0
Management and general expenses
$466,568
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 3 · Investment income

    total $730,488 · unrelated business $177,792 · excluded $552,696

  • 6a · Gross rents

    real property $15,624

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $15,624

  • 6d · Net rental income or loss

    total $15,624 · excluded $15,624

  • 7a · Gross sales of assets other than inventory

    securities $177,112,030

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

    securities $176,062,311

  • 7c · Gain or loss

    securities $1,049,719

  • 7d · Net gain or loss

    total $1,049,719 · excluded $1,049,719

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $1,154 · excluded $1,154

  • 11e · Other revenue, total

    $1,154

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $438,102 · management and general $438,102

  • 11g · Fees: other

    total $2,534 · management and general $2,534

  • 24a · Other expenses: OTHER TAX EXPENSE

    total $20,932 · management and general $20,932

  • 24b · Other expenses: UBIT EXPENSE

    total $5,000 · management and general $5,000

Balance sheet

Part X, book values.

  • 7 · Other notes and loans receivable

    beginning of year $1,449,399 · end of year $1,449,399

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

    $3,022,786

  • 10c · Land, buildings and equipment, net

    beginning of year $3,022,786 · end of year $3,022,786

  • 11 · Investments: publicly traded securities

    beginning of year $10,228,104 · end of year $4,918,110

  • 12 · Investments: other securities

    beginning of year $133,725,445 · end of year $148,797,992

  • 15 · Other assets

    beginning of year $326 · end of year $1,507,728

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,803

  • 19 · Deferred revenue

    beginning of year $178,414 · end of year $162,790

  • 25 · Other liabilities

    beginning of year $98,156 · end of year $1,761,954

  • 27 · Net assets without donor restrictions

    beginning of year $148,129,687 · end of year $157,771,271

Mission and programs · 2023

Mission

TO FULFILL THE GOALS AND OBJECTIVES OF SHEPPARD PRATT THROUGH THE MANAGEMENT AND INVESTMENT OF FUNDS OF SHEPPARD AND ENOCH PRATT FOUNDATION, INC. AND ITS RELATED ORGANIZATIONS INCLUDING THE MANAGEMENT AND INVESTMENT OF ITS ENDOWMENT.

Activities or mission (Part I)

TO HOLD AND MANAGE ENDOWMENT FUNDS OF RELATED NONPROFIT ENTITIES.

  • HOLD AND MANAGE ENDOWMENT FUNDS OF RELATED NONPROFIT ENTITIES.

As filed on the 2023 return.

Listed in Part VII

  • MICHELLE BRANDENBURG

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • JAMES HANNAN

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA KAKEL

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MARGARET ALLEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • THOMAS BONVISSUTO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • WYATT LEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM PATERNOTTE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID SAUNDERS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HARSH TRIVEDI MD MBA

    PRESIDENT & CEO

    Total calculated
    $1,587,024
    From this org
    $0
    From related orgs
    $1,534,067
    Other
    $52,957
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,184,905 related
    Bonus
    $0 + $322,245 related
    Other
    $0 + $26,917 related
    Deferred
    $0 + $52,900 related
    Nontaxable benefits
    $0 + $57 related
    Filer's total
    $0 + $1,587,024 related

  • KELLY SAVOCA

    SVP & CFO

    Total calculated
    $656,342
    From this org
    $0
    From related orgs
    $653,385
    Other
    $2,957
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $498,679 related
    Bonus
    $0 + $99,603 related
    Other
    $0 + $55,103 related
    Deferred
    $0 + $2,900 related
    Nontaxable benefits
    $0 + $57 related
    Filer's total
    $0 + $656,342 related

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION DOES NOT HAVE ANY PAID EMPLOYEES, ALL COMPENSATION TO OFFICERS REPORTED ON PART VII OF THE FORM 990 WAS PAID BY A RELATED ORGANIZATION, SHEPPARD PRATT HEALTH SYSTEM, INC. THE RELATED ENTITY CHECKED THE FOLLOWING BOXES FOR SCHEDULE J, QUESTION 3 ON ITS FORM 990: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B
DURING CALENDAR YEAR 2023, THE FOLLOWING PARTICIPATED IN SHEPPARD PRATT'S SUPPLEMENTAL EXECUTIVE DEFERRED COMPENSATION PLAN ("SERP"): HARSH TRIVEDI, MD, MBA $ 50,000 KELLY SAVOCA $ 25,000 DURING THE CALENDAR YEAR, THE FOLLOWING INDIVIDUALS RECEIVED PAYMENTS AS PART OF THEIR PARTICIPATION IN SHEPPARD PRATT'S SERP PLAN: KELLY SAVOCA $28,321
PART I, LINE 7
TOP MANAGEMENT COMPENSATION INCLUDES AN ANNUAL INCENTIVE PLAN THAT PROVIDES ADDITIONAL COMPENSATION BASED ON THE ACHIEVEMENT OF ORGANIZATION GOALS AND METRICS INCLUDING FINANCIAL AND NON-FINANCIAL MEASURES. THE PLAN IS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF SHEPPARD PRATT HEALTH SYSTEM, INC.

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

No itemized grants to organizations 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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501349349306570

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