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← CHB PROPERTIES INC

Form 990 for tax year 2024

Filed by CHB PROPERTIES INC.

Totals

Total revenue
-$113,212
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
-$113,212
Total assets, end of year
$453,535,367
Total liabilities, end of year
$424,711,483
Net assets or fund balances, end of year
$28,823,884
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 6a · Gross rents

    real property $5,281,018

  • 6b · Less rental expenses

    real property $5,394,230

  • 6c · Rental income or loss

    real property -$113,212

  • 6d · Net rental income or loss

    total -$113,212 · related or exempt -$113,212

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,719,280 · end of year $6,109,152

  • 4 · Accounts receivable

    beginning of year $105,247 · end of year $0

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

    $485,898,929

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

    $38,472,714

  • 10c · Land, buildings and equipment, net

    beginning of year $339,524,473 · end of year $447,426,215

  • 23 · Secured mortgages and notes payable

    beginning of year $26,999,999 · end of year $26,999,999

  • 25 · Other liabilities

    beginning of year $302,271,306 · end of year $397,711,484

  • 27 · Net assets without donor restrictions

    beginning of year $17,077,695 · end of year $28,823,884

Mission and programs · 2024

Mission

CHB Properties maintains and operates ambulatory care satellite properties for use by The Children's Hospital Corporation and its affiliated entities.

Activities or mission (Part I)

Maintains and operates ambulatory care satellite properties for Children's Hospital and other third party leases.

  • CHB Properties, Inc. (formerly known as Children's Extended Care Center) maintains and operates ambulatory care satellite properties in Peabody, Massachusetts. This organization leases space to Children's Hospital clinics and other healthcare organizations to provide healthcare services to children and others in these cities and surrounding communities.

    Revenue -$113,212

As filed on the 2024 return.

Listed in Part VII

  • Kevin Churchwell MD

    President & Trustee

    Total calculated
    $3,490,323
    From this org
    $0
    From related orgs
    $3,311,889
    Other
    $178,434
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,856,511 related
    Bonus
    $0 + $915,518 related
    Other
    $0 + $539,860 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $143,934 related
    Filer's total
    $0 + $3,490,323 related

  • Douglas Vanderslice

    Treasurer & Trustee

    Total calculated
    $1,953,676
    From this org
    $0
    From related orgs
    $1,859,177
    Other
    $94,499
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,054,348 related
    Bonus
    $0 + $522,489 related
    Other
    $0 + $282,340 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $59,999 related
    Filer's total
    $0 + $1,953,676 related

  • Douglas Berthiaume

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Christopher Viney JD

    Clerk & Trustee

    Total calculated
    $1,105,466
    From this org
    $0
    From related orgs
    $1,034,936
    Other
    $70,530
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $732,301 related
    Bonus
    $0 + $188,467 related
    Other
    $0 + $114,168 related
    Deferred
    $0 + $20,315 related
    Nontaxable benefits
    $0 + $50,215 related
    Filer's total
    $0 + $1,105,466 related

  • Michele Garvin Esq

    Former Clerk & Trustee

    Total calculated
    $1,054,550
    From this org
    $0
    From related orgs
    $979,529
    Other
    $75,021
    Hours/week
    0 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $643,416 related
    Bonus
    $0 + $185,938 related
    Other
    $0 + $150,175 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $40,521 related
    Filer's total
    $0 + $1,054,550 related

  • Sandra Fenwick

    Former President & Trustee

    Total calculated
    $437,833
    From this org
    $0
    From related orgs
    $437,833
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $437,833 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $437,833 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)

Part I, Line 3
CHB Properties, Inc. relies on Children's Hospital Corporation, a related organization, to review and approve the compensation paid to individuals listed in Part II.
Part I, Line 4b
Children's Hospital Corporation, a related organization, made contributions to the supplemental non-qualified retirement plan for the individuals listed below. Contribution amounts are generally based on a percentage of compensation. Participants of the supplemental executive retirement plan are fully vested. All payments with respect to a participant's separation from service will be made in a single sum following the separation from service unless participant has elected to receive the accrued interest portion of his or her account in three annual installments. Contributions were for Children's Hospital Corporation employee benefits and not for CHB Properties, Inc.'s Trustee or Officer of the Board services and/or responsibilities. During calendar year 2024, Children's Hospital Corporation made contributions to the supplemental non-qualified retirement plan for the individuals listed below: Kevin Churchwell, MD received a contribution of $502,587 Douglas Vanderslice received a contribution of $273,489 Christopher Viney, JD received a contribution of $86,982 Michele Garvin, Esq. received a contribution of $133,545 During calendar year 2024, the following individual received supplemental executive retirement plan distributions from Children's Hospital Corporation: Sandra Fenwick received a distribution of $943,833. Of that amount only $437,833 was considered to be taxable in the current year.
Part II
Compensation is for Children's Hospital Corporation's executive/employee services; not for CHB Properties, Inc. Trustee or Officer of the Board services.

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.

  • Franciscan Pediatrics Inc

    C · Healthcare · MA

    Directly controlled by Franciscan Hospital for Children Inc

Provenance

Return type
form_990
Tax year
2024
Filed
13 August 2026
IRS schema version
2024v5.5
Source object
202602269349303605

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