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Nonprofiteer
← VAIL CLINIC INC

Form 990 for tax year 2022

Filed by VAIL CLINIC INC.

Totals

Total revenue
$388,177,967
Total expenses
$405,698,317
Contributions and grants received
$38,277,586
Grants paid
$19,689,897
Program service revenue
$337,973,486
Investment income
$1,348,862
Other revenue
$10,578,033
Total assets, end of year
$841,377,599
Total liabilities, end of year
$237,579,702
Net assets or fund balances, end of year
$603,797,897
Program services expenses (Part IX)
$302,801,887
Management and general expenses
$100,668,388
Fundraising expenses
$2,228,042
Program service expenses (Part III)
$302,801,887

Program services were 74.6% 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.

  • 1d · Related organizations

    $33,688,819

  • 1e · Government grants (contributions)

    $4,588,767

  • 2a · Program service revenue: PATIENT SERVICE REVENU

    total $218,201,352 · related or exempt $215,994,311 · unrelated business $2,207,041

  • 2b · Program service revenue: MEDICARE/MEDICAID

    total $69,367,898 · related or exempt $69,367,898

  • 2c · Program service revenue: SUBSIDIARY EQUITY

    total $37,376,994 · related or exempt $37,376,994

  • 2d · Program service revenue: PROF SERVICES/OVERHEAD

    total $11,492,157 · related or exempt $11,492,157

  • 2e · Program service revenue: RETAIL PHARMACY

    total $1,535,085 · unrelated business $1,535,085

  • 3 · Investment income

    total $1,348,862 · excluded $1,348,862

  • 6a · Gross rents

    real property $11,179,726

  • 6b · Less rental expenses

    real property $6,908,647

  • 6c · Rental income or loss

    real property $4,271,079

  • 6d · Net rental income or loss

    total $4,271,079 · excluded $4,271,079

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $4,940,855 · related or exempt $4,940,855

  • 11b · Other revenue: CAFETERIA REVENUE

    total $831,174 · excluded $831,174

  • 11c · Other revenue: REBATES FROM VENDOR

    total $534,925 · related or exempt $534,925

  • 11e · Other revenue, total

    $6,306,954

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,689,897 · program services $19,689,897

  • 5 · Compensation of officers, directors and key employees

    total $4,973,979 · program services $472,553 · management and general $4,501,426

  • 7 · Other salaries and wages

    total $132,250,505 · program services $96,800,651 · management and general $33,755,541 · fundraising $1,694,313

  • 8 · Pension plan contributions

    total $8,865,332 · program services $6,996,140 · management and general $1,784,476 · fundraising $84,716

  • 9 · Other employee benefits

    total $12,240,439 · program services $7,183,517 · management and general $4,860,034 · fundraising $196,888

  • 10 · Payroll taxes

    total $14,628,637 · program services $11,721,345 · management and general $2,777,677 · fundraising $129,615

  • 11b · Fees: legal

    total $2,940,379 · program services $400,231 · management and general $2,540,148

  • 11c · Fees: accounting

    total $250,289 · management and general $250,289

  • 11d · Fees: lobbying

    total $5,100 · management and general $5,100

  • 11g · Fees: other

    total $51,955,759 · program services $30,319,787 · management and general $21,539,633 · fundraising $96,339

  • 12 · Advertising and promotion

    total $1,530,622 · program services $211,711 · management and general $1,310,073 · fundraising $8,838

  • 13 · Office expenses

    total $2,860,808 · program services $1,040,151 · management and general $1,817,169 · fundraising $3,488

  • 14 · Information technology

    total $451,908 · program services $142,910 · management and general $308,998

  • 16 · Occupancy

    total $3,374,223 · program services -$190,869 · management and general $3,565,092

  • 17 · Travel

    total $637,409 · program services $358,485 · management and general $267,836 · fundraising $11,088

  • 19 · Conferences, conventions and meetings

    total $306,170 · program services $208,116 · management and general $98,004 · fundraising $50

  • 20 · Interest

    total $4,795,736 · program services $4,795,736

  • 22 · Depreciation, depletion and amortization

    total $28,084,100 · program services $25,047,123 · management and general $3,036,977

  • 23 · Insurance

    total $3,070,805 · management and general $3,070,805

  • 24a · Other expenses: MEDICAL & OTHER SUPPLIE

    total $68,591,051 · program services $68,135,293 · management and general $453,203 · fundraising $2,555

  • 24b · Other expenses: MISCELLANEOUS

    total $13,719,028 · program services $5,198,529 · management and general $8,520,347 · fundraising $152

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $10,825,628 · program services $4,785,271 · management and general $6,040,357

  • 24d · Other expenses: BAD DEBT EXPENSE

    total $7,173,603 · program services $7,173,603

  • 24e · All other expenses

    total $12,476,910 · program services $12,311,707 · management and general $165,203

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $26,605,505 · end of year $19,140,407

  • 2 · Savings and temporary cash investments

    beginning of year $1,024,501 · end of year $25,157,023

  • 4 · Accounts receivable

    beginning of year $40,393,435 · end of year $46,271,111

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $44,649,325

  • 8 · Inventories for sale or use

    beginning of year $9,373,604 · end of year $10,249,780

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,413,267 · end of year $9,085,642

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

    $608,944,489

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

    $276,049,390

  • 10c · Land, buildings and equipment, net

    beginning of year $354,655,547 · end of year $332,895,099

  • 11 · Investments: publicly traded securities

    beginning of year $267,761,203 · end of year $219,520,378

  • 13 · Investments: program-related

    beginning of year $38,587,856 · end of year $49,618,013

  • 15 · Other assets

    beginning of year $78,680,846 · end of year $84,790,821

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,877,049 · end of year $48,935,840

  • 18 · Grants payable

    beginning of year $2,590,711 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $105,343,009 · end of year $130,053,001

  • 25 · Other liabilities

    beginning of year $63,693,315 · end of year $58,590,861

  • 27 · Net assets without donor restrictions

    beginning of year $607,998,290 · end of year $602,940,784

  • 28 · Net assets with donor restrictions

    beginning of year $993,390 · end of year $857,113

Mission and programs · 2022

Mission

ELEVATING HEALTH ACROSS OUR MOUNTAIN COMMUNITIES.

  • SEE SCHEDULE O.

    Expenses $302,801,887 · Grants $19,689,897 · Revenue $339,707,140

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Will Cook

    PRESIDENT AND CEO

    Total calculated
    $1,685,911
    From this org
    $1,559,247
    From related orgs
    $0
    Other
    $126,664
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $836,158
    Bonus
    $640,918
    Other
    $82,171
    Deferred
    $99,122
    Nontaxable benefits
    $27,542
    Filer's total
    $1,685,911

  • Jerry Greenberg MD

    DIRECTOR

    Total calculated
    $667,063
    From this org
    $631,192
    From related orgs
    $0
    Other
    $35,871
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $508,144
    Bonus
    $0
    Other
    $123,048
    Deferred
    $15,313
    Nontaxable benefits
    $20,558
    Filer's total
    $667,063

  • Susie Vickerman Do

    DIRECTOR

    Total calculated
    $487,485
    From this org
    $447,291
    From related orgs
    $0
    Other
    $40,194
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $414,451
    Bonus
    $0
    Other
    $32,840
    Deferred
    $10,300
    Nontaxable benefits
    $29,894
    Filer's total
    $487,485

  • Kristen Ickes Do

    DIRECTOR

    Total calculated
    $376,449
    From this org
    $354,745
    From related orgs
    $0
    Other
    $21,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,797
    Bonus
    $45,803
    Other
    $6,145
    Deferred
    $13,017
    Nontaxable benefits
    $8,687
    Filer's total
    $376,449

  • Eric Affeldt

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chris Jarnot

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Andy Daly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Art Kelton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bratzo Horruitiner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ellen Moritz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Harry Frampton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justin Starzyk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Linda Pancratz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marc Philippon MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mary Randall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Imhof

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reg Franciose MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Kasser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Gorrie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Higgins

    TREASURER AND CFO

    Total calculated
    $720,806
    From this org
    $651,758
    From related orgs
    $0
    Other
    $69,048
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $410,541
    Bonus
    $230,562
    Other
    $10,655
    Deferred
    $39,726
    Nontaxable benefits
    $29,322
    Filer's total
    $720,806

  • Amanda Veit

    CHIEF OPERATIONS OFFICER

    Total calculated
    $1,111,937
    From this org
    $1,046,287
    From related orgs
    $0
    Other
    $65,650
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $520,911
    Bonus
    $492,478
    Other
    $32,898
    Deferred
    $45,704
    Nontaxable benefits
    $19,946
    Filer's total
    $1,111,937

  • Craig Cohn

    CHIEF REAL ESTATE DEV OFFICER

    Total calculated
    $792,860
    From this org
    $772,825
    From related orgs
    $0
    Other
    $20,035
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $520,941
    Bonus
    $247,692
    Other
    $4,192
    Deferred
    $17,211
    Nontaxable benefits
    $2,824
    Filer's total
    $792,860

  • David Kaplan

    PRESIDENT CMM

    Total calculated
    $622,065
    From this org
    $601,542
    From related orgs
    $0
    Other
    $20,523
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,985
    Bonus
    $200,000
    Other
    $73,557
    Deferred
    $0
    Nontaxable benefits
    $20,523
    Filer's total
    $622,065

  • Brooks Bock MD

    PRESIDENT CMM

    Total calculated
    $458,023
    From this org
    $423,274
    From related orgs
    $0
    Other
    $34,749
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,732
    Bonus
    $113,379
    Other
    $13,163
    Deferred
    $15,250
    Nontaxable benefits
    $19,499
    Filer's total
    $458,023

  • Patricia Hardenbergh MD

    PHYSICIAN

    Total calculated
    $847,497
    From this org
    $802,925
    From related orgs
    $0
    Other
    $44,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $649,104
    Bonus
    $55,000
    Other
    $98,821
    Deferred
    $15,250
    Nontaxable benefits
    $29,322
    Filer's total
    $847,497

  • Chris Lindley

    EXECUTIVE DIRECTOR, EVBH

    Total calculated
    $731,494
    From this org
    $695,426
    From related orgs
    $0
    Other
    $36,068
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $334,676
    Bonus
    $357,461
    Other
    $3,289
    Deferred
    $4,410
    Nontaxable benefits
    $31,658
    Filer's total
    $731,494

  • Katherine Schuetze MD

    PHYSICIAN

    Total calculated
    $620,652
    From this org
    $592,723
    From related orgs
    $0
    Other
    $27,929
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $504,608
    Bonus
    $20,000
    Other
    $68,115
    Deferred
    $0
    Nontaxable benefits
    $27,929
    Filer's total
    $620,652

  • Alexander Urquhart MD

    PHYSICIAN

    Total calculated
    $615,111
    From this org
    $570,513
    From related orgs
    $0
    Other
    $44,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $493,671
    Bonus
    $37,080
    Other
    $39,762
    Deferred
    $15,250
    Nontaxable benefits
    $29,348
    Filer's total
    $615,111

  • Nelson Prager MD

    PHYSICIAN

    Total calculated
    $577,857
    From this org
    $575,757
    From related orgs
    $0
    Other
    $2,100
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $438,928
    Bonus
    $100
    Other
    $136,729
    Deferred
    $0
    Nontaxable benefits
    $2,100
    Filer's total
    $577,857

  • Doris Kirchner

    FORMER PRESIDENT AND CEO

    Total calculated
    $557,986
    From this org
    $557,986
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $557,986
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $557,986

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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, LINES 4A-B
SEVERANCE: DORIS KIRCHNER RECEIVED $557,986 DURING THE TAX YEAR. 457(F) PLAN: WILL COOK, JOHN HIGGINS, AND AMANDA VEIT PARTICIPATED IN A SERP DURING THE YEAR. THE 457(F) AMOUNTS WERE $83,872, $24,436, AND $37,057, RESPECTIVELY. VESTING PERCENTAGES SPECIFIED IN THE WRITTEN AGREEMENTS OCCURS ON OCTOBER 1 OR DECEMBER 1 OF EACH YEAR.
PART I, LINE 7
NON FIXED AND BONUS PAYMENTS: INCENTIVE BONUSES ARE CALCULATED AS A PERCENT OF BASE COMPENSATION. THE DETERMINATION OF WHETHER OR NOT A PAYOUT IS MADE IS BASED ON COMPANY FINANCIAL PERFORMANCE AND ON INDIVIDUAL PERFORMANCE REVIEWS CONDUCTED BY THE CEO AND THE COMPENSATION COMMITTEE. CERTAIN PHYSICIAN PRODUCTIVITY BONUSES ARE PAID BASED ON RELATIVE VALUE UNITES (RVUS) WHICH ARE AN INDICATION OF THE EMPLOYEE'S PRODUCTIVITY OR LEVEL OF EFFORT. OTHER PHYSICIAN BONUSES ARE BASED ON SATISFACTION OF CRITERIA DEFINED IN EMPLOYMENT AGREEMENTS.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • COLORADO MOUNTAIN MEDICAL LLC

    HEALTHCARE · CO · income $35,857,223 · assets $18,471,332

    Directly controlled by VAIL CLINIC

  • NORTH EAGLE INVESTMENTS

    RENTAL · CO · income $0 · assets $3,092,703

    Directly controlled by VAIL CLINIC

  • 10 MILE HOLDINGS LLC

    HOLDING COMPANY · CO · income $0 · assets $6,941,038

    Directly controlled by VAIL CLINIC

  • EAGLE RIVER REAL ESTATE HOLDINGS

    RENTAL · CO · income $183,520 · assets $0

    Directly controlled by VAIL CLINIC

Related partnerships

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

  • VAIL VALLEY SURGERY CENTER

    RELATED · HEALTH CARE · CO · 50.23% owned · share of income $31,544,969 · share of assets $5,316,056

    Directly controlled by VAIL CLINIC

  • EAGLE RIVER REAL ESTATE HOLDINGS

    RELATED · RENTAL · CO · 75% owned · share of income -$209,891 · share of assets $73,436,283

    Directly controlled by VAIL CLINIC

Related corporations and trusts

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

  • VHS MANAGEMENT SERVICES INC

    C · HEALTH CARE · CO · controlled entity

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2024
IRS schema version
2022v5.0
Source object
202412569349301891

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