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Nonprofiteer
← SCHC WBC PROP CORP

Form 990 for tax year 2023

Filed by SCHC WBC PROP CORP.

Totals

Total revenue
$93,588
Total expenses
$17,539
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$93,588
Other revenue
$0
Total assets, end of year
$33,509,134
Total liabilities, end of year
$28,192,722
Net assets or fund balances, end of year
$5,316,412
Program services expenses (Part IX)
$16,869
Management and general expenses
$670
Fundraising expenses
$0
Program service expenses (Part III)
$16,869

Program services were 96.2% 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.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $93,588 · excluded $93,588

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $670 · management and general $670

  • 16 · Occupancy

    total $16,869 · program services $16,869

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    end of year $8,529,132

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

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

    $24,980,002

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $24,980,002

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $3,801,785

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 23 · Secured mortgages and notes payable

    end of year $24,390,937

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    end of year $5,316,412

Mission and programs · 2023

Mission

A SPECIAL PURPOSE ENTITY FOR NEW MARKET TAX CREDITS FINANCING TO HOLD THE REAL ASSETS OF SHASTA COMMUNITY HEALTH CENTER IN ORDER TO PROVIDE HEALTHCARE SERVICES TO THEIR PATIENTS.

Activities or mission (Part I)

SCHC WBC PROP CORP SUPPORTS SHASTA COMMUNITY HEALTH CENTER (SCHC) THROUGH DEVELOPMENT, FINANCE, AND OWNERSHIP OF CLINIC FACILITIES AND EQUIPMENT FOR SCHC.

  • THE PURPOSE OF SCHC WBC PROP CORP IS TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF SHASTA COMMUNITY HEALTH CENTER (SCHC) THROUGH THE ORGANIZATION'S DEVELOPMENT, FINANCE, AND OWNERSHIP OF CLINIC FACILITIES FOR THE BENEFIT OF SCHC.

    Expenses $16,869

As filed on the 2023 return.

Listed in Part VII

  • Kim Pickering

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • Star Alfaro

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • Stephen Bell

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 3.3 related

  • Kerry Fasking

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 4.3 related

  • Lori Goyne

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 3.3 related

  • Margaret Beck

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 4.3 related

  • C Dean Germano

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $457,269
    From this org
    $0
    From related orgs
    $384,938
    Other
    $72,331
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $328,971 related
    Bonus
    $0 + $55,967 related
    Other
    $0
    Deferred
    $0 + $64,099 related
    Nontaxable benefits
    $0 + $8,232 related
    Filer's total
    $0 + $457,269 related

  • Daniel Santi

    CHIEF FINANCIAL OFFICER BEG 09/23

    Total calculated
    $174,665
    From this org
    $0
    From related orgs
    $149,709
    Other
    $24,956
    Hours/week
    0.1 + 40.2 related

    Schedule J breakdown matched by us

    Base
    $0 + $139,690 related
    Bonus
    $0 + $10,019 related
    Other
    $0
    Deferred
    $0 + $2,600 related
    Nontaxable benefits
    $0 + $22,356 related
    Filer's total
    $0 + $174,665 related

  • Sherry Caldwell

    CHIEF FINANCIAL OFFICER END 09/23

    Total calculated
    $281,863
    From this org
    $0
    From related orgs
    $266,059
    Other
    $15,804
    Hours/week
    0.1 + 40.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $220,420 related
    Bonus
    $0 + $45,639 related
    Other
    $0
    Deferred
    $0 + $8,256 related
    Nontaxable benefits
    $0 + $7,548 related
    Filer's total
    $0 + $281,863 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

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE COMPENSATION OF THE ORGANIZATION'S CEO WAS DETERMINED BY SHASTA COMMUNITY HEALTH CENTER (SCHC), A RELATED PARTY. SCHC USED THE FOLLOWING RESOURCES TO DETERMINE THE CEO'S COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY BOARD OR COMPENSATION COMMITTEE - WRITTEN EMPLOYMENT CONTRACT
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
C. DEAN GERMANO, CEO, IS COVERED BY A 457(F) SUPPLEMENTAL RETIREMENT AGREEMENT FROM SHASTA COMMUNITY HEALTH CENTER, A RELATED ORGANIZATION, WHICH WAS FUNDED THIS YEAR BY $50,867.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202403139349303245

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