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Nonprofiteer
← HEALTH VENTURES

Form 990 for tax year 2023

Filed by HEALTH VENTURES.

Totals

Total revenue
$7,799,914
Total expenses
$10,028,345
Contributions and grants received
$0
Grants paid
$10,000,000
Program service revenue
$7,799,914
Investment income
$0
Other revenue
$0
Total assets, end of year
$41,957,551
Total liabilities, end of year
$281,575
Net assets or fund balances, end of year
$41,675,976
Program services expenses (Part IX)
$10,000,000
Management and general expenses
$28,345
Fundraising expenses
$0
Program service expenses (Part III)
$10,000,000

Program services were 99.7% 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: THE OREGON CANCER CENTERS, LTD

    total $3,590,628 · related or exempt $3,590,628

  • 2b · Program service revenue: OREGON IMAGING CENTERS

    total $3,243,103 · related or exempt $3,243,103

  • 2c · Program service revenue: MOUNT BAKER IMAGING, LLC

    total $771,807 · related or exempt $771,807

  • 2d · Program service revenue: FRESENIUS KIDNEY CARE LONGVIEW

    total $461,300 · related or exempt $461,300

  • 2e · Program service revenue: RIVERBEND AMBULATORY SURGERY CTR

    total $42,000 · related or exempt $42,000

  • 2f · All other program service revenue

    total -$308,924 · related or exempt -$308,924

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000,000 · program services $10,000,000

  • 22 · Depreciation, depletion and amortization

    total $294,919 · management and general $294,919

  • 24a · Other expenses: MISCELLANEOUS

    total -$266,574 · management and general -$266,574

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,486,296 · end of year $8,961,079

  • 13 · Investments: program-related

    beginning of year $27,755,101 · end of year $31,743,063

  • 14 · Intangible assets

    beginning of year $1,548,329 · end of year $1,253,409

  • 17 · Accounts payable and accrued expenses

    beginning of year $239,225 · end of year $281,575

  • 27 · Net assets without donor restrictions

    beginning of year $42,550,501 · end of year $41,675,976

Mission and programs · 2023

Mission

HEALTH VENTURES IS OPERATED PRIMARILY FOR THE BENEFIT AND PURPOSES OF PEACEHEALTH, A 501(C)(3) ORGANIZATION, WHICH HAS BEEN FORMALLY RECOGNIZED AS A PONTIFICAL PRIVATE JURIDIC PERSON ENGAGED IN THE APOSTOLIC WORK OF THE ROMAN CATHOLIC CHURCH.

Activities or mission (Part I)

HEALTH VENTURES IS OPERATED PRIMARILY FOR THE BENEFIT AND PURPOSES OF PEACEHEALTH.

  • SUPPORT TO PEACEHEALTH, A WASHINGTON NON-PROFIT CORPORATION, WHICH IS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE,WHICH OPERATES A HEALTHCARE SYSTEM IN WASHINGTON, OREGON AND ALASKA. THE PURPOSE OF HEALTH VENTURES IS TO OPERATE FOR THE BENEFIT OF PEACEHEALTH. DURING THE TAX YEAR 2023, HEALTH VENTURES TRANSFERRED $10,000,000 TO PEACEHEALTH THROUGH A FUND BALANCE TRANSFER.

    Expenses $10,000,000 · Grants $10,000,000 · Revenue $7,799,914

As filed on the 2023 return.

Listed in Part VII

  • Michael P Dwyer

    PRESIDENT

    Total calculated
    $1,851,049
    From this org
    $0
    From related orgs
    $1,616,661
    Other
    $234,388
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $645,721 related
    Bonus
    $0 + $954,637 related
    Other
    $0 + $16,303 related
    Deferred
    $0 + $219,921 related
    Nontaxable benefits
    $0 + $14,467 related
    Filer's total
    $0 + $1,851,049 related

  • Darrin Montalvo

    VICE PRES/TREAS/CHAIR

    Total calculated
    $1,708,996
    From this org
    $0
    From related orgs
    $1,351,766
    Other
    $357,230
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $959,450 related
    Bonus
    $0 + $384,642 related
    Other
    $0 + $7,674 related
    Deferred
    $0 + $326,368 related
    Nontaxable benefits
    $0 + $30,862 related
    Filer's total
    $0 + $1,708,996 related

  • Richard Decarlo

    DIRECTOR

    Total calculated
    $1,953,173
    From this org
    $0
    From related orgs
    $1,478,509
    Other
    $474,664
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,042,443 related
    Bonus
    $0 + $417,914 related
    Other
    $0 + $18,152 related
    Deferred
    $0 + $449,746 related
    Nontaxable benefits
    $0 + $24,918 related
    Filer's total
    $0 + $1,953,173 related

  • Karl Carrier

    BOD CHAIR (THRU 2/2024)

    Total calculated
    $50,000
    From this org
    $0
    From related orgs
    $50,000
    Other
    $0
    Hours/week
    2

  • Scott Foster

    CHIEF MED EXEC, PHMG (THRU 3/2024)

    Total calculated
    $1,418,558
    From this org
    $0
    From related orgs
    $1,194,782
    Other
    $223,776
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $561,805 related
    Bonus
    $0 + $632,977 related
    Other
    $0
    Deferred
    $0 + $184,531 related
    Nontaxable benefits
    $0 + $39,245 related
    Filer's total
    $0 + $1,418,558 related

  • Melissa Edwards MD

    CHIEF EXECUTIVE, PHMG (EFF 4/2024)

    Total calculated
    $0
    Hours/week
    2 + 40 related

  • Thomas Karnes

    SECRETARY

    Total calculated
    $463,962
    From this org
    $0
    From related orgs
    $407,655
    Other
    $56,307
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $377,655 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0 + $23,192 related
    Nontaxable benefits
    $0 + $33,115 related
    Filer's total
    $0 + $463,962 related

  • Brian Shipley

    DIRECTOR

    Total calculated
    $435,484
    From this org
    $0
    From related orgs
    $385,754
    Other
    $49,730
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $341,254 related
    Bonus
    $0 + $44,500 related
    Other
    $0
    Deferred
    $0 + $33,192 related
    Nontaxable benefits
    $0 + $16,538 related
    Filer's total
    $0 + $435,484 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

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

The filer's explanations (Part III)

PART I, LINE 3
PEACEHEALTH (EIN: 91-0939479) IS THE SOLE MEMBER OF HEALTH VENTURES. THE CEO OF HEALTH VENTURES IS COMPENSATED BY PEACEHEALTH AND PERFORMS DUTIES FOR PEACEHEALTH BEYOND SERVING AS THE CEO OF HEALTH VENTURES. PEACEHEALTH ESTABLISHES COMPENSATION FOR THE HEALTH VENTURES CEO USING: 1) INDEPENDENT COMPENSATION CONSULTANT 2) COMPENSATION SURVEY OR STUDY 3) APPROVAL BY THE BOARD
PART I, LINES 4A-B
PEACEHEALTH (EIN: 91-0939479) IS THE SOLE MEMBER OF HEALTH VENTURES. HEALTH VENTURES HAS NO EMPLOYEES, BUT PEACEHEALTH PROVIDES PERSONNEL SERVICES FOR HEALTH VENTURES. ALL EMPLOYEES, OFFICERS, AND DIRECTORS THAT SPEND TIME ON HEALTH VENTURES OPERATIONS ARE EMPLOYED BY PEACEHEALTH. THE COMPENSATION POLICIES OF PEACEHEALTH ARE DISCLOSED BELOW. PEACEHEALTH'S CHIEF EXECUTIVE OFFICER, EXECUTIVE VICE PRESIDENTS, SENIOR VICE PRESIDENTS, CERTAIN PHYSICIANS, AND OTHER HIGHLY COMPENSATED EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN VARIOUS NONQUALIFIED RETIREMENT PLANS. CONTRIBUTIONS TO THESE PLANS AND RELATED INVESTMENT RETURNS ARE DISCLOSED ON SCHEDULE J AS DEFERRED COMPENSATION AND AS BONUS COMPENSATION WHEN PAID TO THE INDIVIDUAL. THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2023 (DEFERRED/PAID): MICHAEL P. DWYER: $174,012/$695,768 DARRIN MONTALVO: $293,176/$0 RICHARD DECARLO: $409,954/$0 SCOTT FOSTER: $151,339/$632,977 SEAN GREGORY: $330,380/$0 THOMAS KARNES: $2,426/$0

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

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.

  • RB AMBULATORY SURGERY CENTER

    RELATED · MEDICAL · OR · 51.83% owned · share of income $1,382,129 · share of assets $4,590,175 · general or managing partner

    Directly controlled by HEALTH VENTURES

  • ARDON HEALTH

    PHARMACY · DE

Related corporations and trusts

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

  • CLARE REASSURANCE

    C · REINSURANCE · CJ

  • LOWER COLUMBIA REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • OREGON REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • PEACEHEALTH AMBULATORY LLC

    C · MEDICAL · WA

  • PEACEHEALTH CLINICALLY INTEGRATED NETWORK

    C · MEDICAL · WA

  • PEACEHEALTH DIRECT CONTRACTING LLC

    C · MEDICAL · WA

  • PEACEHEALTH NETWORKS ON DEMAND LLC

    C · MEDICAL CLINICS · WA

  • POOLED INCOME FUND OF PEACEHEALTH #1

    T · POOLED INC FUND · WA

  • SIUSLAW REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • SOUTHWEST REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • WHATCOM REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

Provenance

Return type
form_990
Tax year
2023
Filed
9 April 2025
IRS schema version
2023v6.0
Source object
202541089349301704

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