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Nonprofiteer
← GREATER BALTIMORE MEDICAL CENTER LAND CORPORATION

Form 990 for tax year 2024

Filed by GREATER BALTIMORE MEDICAL CENTER LAND CORPORATION.

Totals

Total revenue
$2,746,896
Total expenses
$4,601,864
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,746,896
Investment income
$0
Other revenue
$0
Total assets, end of year
$15,906,313
Total liabilities, end of year
$19,907,684
Net assets or fund balances, end of year
-$4,001,371
Program services expenses (Part IX)
$4,459,640
Management and general expenses
$142,224
Fundraising expenses
$0
Program service expenses (Part III)
$4,459,640

Program services were 96.9% 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.

  • 2a · Program service revenue: PROPERTY MANAGEMENT

    total $2,713,946 · related or exempt $2,713,946

  • 2b · Program service revenue: PARKING REVENUE

    total $32,950 · related or exempt $32,950

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $66,034 · program services $66,034

  • 8 · Pension plan contributions

    total $1,610 · program services $1,610

  • 9 · Other employee benefits

    total $22,924 · program services $22,924

  • 10 · Payroll taxes

    total $4,847 · program services $4,847

  • 11c · Fees: accounting

    total $14,124 · management and general $14,124

  • 11g · Fees: other

    total $375,683 · program services $291,311 · management and general $84,372

  • 13 · Office expenses

    total $33,138 · program services $33,138

  • 14 · Information technology

    total $3,130 · program services $3,130

  • 16 · Occupancy

    total $3,622,909 · program services $3,622,909

  • 22 · Depreciation, depletion and amortization

    total $351,797 · program services $351,797

  • 24a · Other expenses: EQUIPMENT MAINTENANCE

    total $61,940 · program services $61,940

  • 24b · Other expenses: INTERCORPORATE OVERHEAD

    total $43,728 · management and general $43,728

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $182,910 · end of year $152,740

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

    $5,959,899

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

    $4,547,324

  • 10c · Land, buildings and equipment, net

    beginning of year $1,742,635 · end of year $1,412,575

  • 14 · Intangible assets

    beginning of year $57,747 · end of year $36,010

  • 15 · Other assets

    beginning of year $16,137,769 · end of year $14,304,988

  • 17 · Accounts payable and accrued expenses

    beginning of year $78,393 · end of year $48,330

  • 25 · Other liabilities

    beginning of year $20,189,071 · end of year $19,859,354

  • 27 · Net assets without donor restrictions

    beginning of year -$2,146,403 · end of year -$4,001,371

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

ACQUIRE, HOLD TITLE, LEASE, OPERATE, DEVELOP, AND COLLECT INCOME FROM PROPERTY FOR GBMC

  • GBMC LAND LEASED; PROVIDED FOR THE MANAGEMENT, OPERATION AND DEVELOPMENT OF; AND COLLECTED INCOME FROM PHYSICIAN PAVILION NORTH.

    Expenses $4,459,640 · Revenue $2,746,896

As filed on the 2024 return.

Listed in Part VII

  • John B Chessare MD

    DIRECTOR/CEO GBMC HEALTHCA

    Total calculated
    $1,172,384
    From this org
    $0
    From related orgs
    $1,139,114
    Other
    $33,270
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $848,972 related
    Bonus
    $0
    Other
    $0 + $290,142 related
    Deferred
    $0 + $11,208 related
    Nontaxable benefits
    $0 + $22,062 related
    Filer's total
    $0 + $1,172,384 related

  • Laurie R Beyer

    EVP & CFO GBMC HEALTHCARE

    Total calculated
    $815,423
    From this org
    $0
    From related orgs
    $700,392
    Other
    $115,031
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $445,983 related
    Bonus
    $0 + $148,630 related
    Other
    $0 + $105,779 related
    Deferred
    $0 + $85,248 related
    Nontaxable benefits
    $0 + $29,783 related
    Filer's total
    $0 + $815,423 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
GREATER BALTIMORE MEDICAL CENTER LAND CORPORATION RELIED ON ITS PARENT, GBMC HEALTHCARE, INC., TO SET COMPENSATION FOR GBMC'S PRESIDENT. GBMC HEALTHCARE, INC. USED A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, A WRITTEN EMPLOYMENT CONTRACT, A COMPENSATION SURVEY OR STUDY, AND AN APPROVAL BY A COMPENSATION COMMITTEE TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION.
PART I, LINE 4B
GBMC HEALTHCARE HAS A NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN ("SERP"). THIS PLAN WAS APPROVED BY THE COMPENSATION COMMITTEE OF THE GBMC HEALTHCARE BOARD OF DIRECTORS TO SUPPLEMENT THE EXECUTIVE'S RETIREMENT INCOME. THE SUPPLEMENTAL RETIREMENT PLAN WAS DEVELOPED BASED ON AN INDEPENDENT CONSULTANT REPORT ON MARKET-BASED PRACTICES FOR SUPPLEMENTAL RETIREMENT PLANS, THE PERCENTAGE OF FINAL AVERAGE PAY, THE REQUIREMENTS FOR VESTING, PARTICIPANTS, AND PAY-OUT PROVISIONS WERE ESTABLISHED, REVIEWED, AND APPROVED BY THE COMPENSATION COMMITTEE. DURING CALENDAR YEAR 2024 THE FOLLOWING PARTICIPATED IN THE SERP PLAN: JOHN B. CHESSARE - $249,618 LAURIE R. BEYER - $74,730 DURING THE CALENDAR YEAR, THE FOLLOWING INDIVIDUALS RECEIVED PAYMENTS AS PART OF THEIR PARTICIPATION IN THE SERP PLAN: JOHN B. CHESSARE, M.D. - $249,618 LAURIE R. BEYER - $74,069
PART I, LINE 7
EXECUTIVE BONUSES ARE ESTABLISHED BY THE BOARD OF DIRECTORS COMPENSATION COMMITTEE WITH THE CONSULTATION OF AN INDEPENDENT THIRD-PARTY EXECUTIVE COMPENSATION CONSULTANT. THE COMPENSATION COMMITTEE FOLLOWS GOVERNANCE BEST PRACTICES: - ESTABLISHES AN EXECUTIVE COMPENSATION PHILOSOPHY. - CONDUCTS A COMPREHENSIVE COMPENSATION REVIEW AND APPROVAL PROCESS LED BY AN INDEPENDENT, BOARD-AUTHORIZED COMPENSATION COMMITTEE. - REINFORCES PAY-FOR-PERFORMANCE THROUGH AN ANNUAL INCENTIVE PLAN, WITH GOALS AND METRICS APPROVED BY THE COMPENSATION COMMITTEE; DETERMINATION OF ACHIEVEMENT AND AWARDS WITHIN COMPENSATION COMMITTEE'S SOLE DISCRETION. - PROMOTES TRANSPARENCY WITH ANNUAL REPORT TO THE BOARD. - ENSURES COMPLIANCE WITH IRS "INTERMEDIATE SANCTIONS" SAFE HARBOR PROTECTIONS FOR EXECUTIVE COMPENSATION DECISIONS.

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 partnerships

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

  • GBMC PAVILION WEST MEDICAL ARTS LLC

    REAL ESTATE MANAGEMENT · MD

  • GBMC-WP-PT LLC

    PHYSICAL THERAPY · MD

  • GREATER BALTIMORE DIAGNOSTIC IMAGING

    RADIOLOGY · MD

  • NORTHERN BALTIMORE SURGERY CENTER

    OCULAR SURGERY · MD

Related corporations and trusts

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

  • GBMC AGENCY INC

    C · INVESTMENTS · MD

  • RUXTON INSURANCE COMPANY

    C · INSURANCE CAPTIVE · BD

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2026
IRS schema version
2024v5.5
Source object
202621319349305062

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