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Nonprofiteer
← NEWTON MEDICAL CENTER FOUNDATION

Form 990 for tax year 2023

Filed by NEWTON MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$2,189,475
Total expenses
$861,143
Contributions and grants received
$1,384,950
Grants paid
$343,855
Program services expenses (Part IX)
$343,855
Management and general expenses
$410,068
Fundraising expenses
$107,220
Program service expenses (Part III)
$343,855

Program services were 39.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Mark Avondoglio

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Robert Adams

    Trustee-President, Western

    Total calculated
    $1,235,422
    From this org
    $0
    From related orgs
    $1,088,433
    Other
    $146,989
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $575,002 related
    Bonus
    $0 + $353,445 related
    Other
    $0 + $159,986 related
    Deferred
    $0 + $129,108 related
    Nontaxable benefits
    $0 + $17,881 related
    Filer's total
    $0 + $1,235,422 related

  • Megan Sandow

    Trustee-Chief Dev Officer

    Total calculated
    $334,961
    From this org
    $0
    From related orgs
    $304,606
    Other
    $30,355
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $264,201 related
    Bonus
    $0 + $38,092 related
    Other
    $0 + $2,313 related
    Deferred
    $0 + $12,317 related
    Nontaxable benefits
    $0 + $18,038 related
    Filer's total
    $0 + $334,961 related

  • Salvatore Dispenziere III

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Buffie Dobbs

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Colleen Apter

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Larry Condit

    Asst. Treasurer

    Total calculated
    $0
    Hours/week
    2

  • E Jane Brown

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • George W Morville Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Greg Nolan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jason Apter

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey J Quinn

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jo-Ellen McCracken Hazen

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Karl Wagner

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kim Ferruggia

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kurt Walton

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Thomas N Ryan Esq

    Vice Chairman

    Total calculated
    $0
    Hours/week
    2

  • Mark Cummins

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mary Waller

    Trustee - Aux. Rep

    Total calculated
    $0
    Hours/week
    2

  • Matthew Hannum

    Trustee-Secretary

    Total calculated
    $0
    Hours/week
    2

  • Michael E Holenstein

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Lanza Esq

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Richard Bourque

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Robert Masci MD FACC

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Donald Costlow DVM

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Suvid Chaudhari DO

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Daniel Leary

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • David P Romano

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Walter

    SVP-Chief Financial Officer

    Total calculated
    $1,108,761
    From this org
    $0
    From related orgs
    $971,184
    Other
    $137,577
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $879,991 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $16,193 related
    Deferred
    $0 + $119,777 related
    Nontaxable benefits
    $0 + $17,800 related
    Filer's total
    $0 + $1,108,761 related

  • Kevin Lenahan

    EVP-Chief Business & Strategy Officer

    Total calculated
    $7,161,469
    From this org
    $0
    From related orgs
    $6,754,515
    Other
    $406,954
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,347,725 related
    Bonus
    $0 + $992,992 related
    Other
    $0 + $4,413,798 related
    Deferred
    $0 + $393,574 related
    Nontaxable benefits
    $0 + $13,380 related
    Filer's total
    $0 + $7,161,469 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 — 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)

Part I, Line 4b
2023 Supplemental Executive Retirement Plan (SERP) Earned Credits During 2023, Atlantic Health implemented a non-qualified SERP paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. During 2023, the following Trustees received SERP credits: Robert Adams, Jr. 113,790 Michael Walter 117,061 Kevin Lenahan 357,274 The above amounts represent earned credits which ahve not vested and were not included in the respective 2023 W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2022 IRS 990 tax return per IRS guidance. Once the Trustees meet the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. 2023 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following Trustee received taxable SERP distributions during 2023 based on the vesting criteria of the plan document. These taxable SERP distributions were included in the Trustee's 2023 W-2 and reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Robert Adams $153,967 2023 Mid Career Hire Plan The organization provides a supplemental non-qualified retirement plan (457f plan) known as the Mid-Career Hire Plan (MCHP) for certain officers and key employees. During 2023, the following officer/key employee received vested distributions in this non-qualified retirement plan. Such distributions were included in Box 1, Box 5 and Box 16 of their respective Form W-2: Kevin Lenahan $4,372,618 The Mid Career Hire Plan was terminated effective January 1, 2023. Any existing participants were transferred at that time into the Supplmental Exectiuve Retirement Plan (SERP) as outlined above.

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

  • Newton Medical Center

    $343,855

    Cash transfer to affiliate for support of various capital campaigns and community programs.

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
13 November 2024
IRS schema version
2023v5.1
Source object
202403189349309375

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