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Nonprofiteer
← FLOYD-POLK HEALTHCARE FOUNDATION INC

Form 990 for tax year 2023

Filed by FLOYD-POLK HEALTHCARE FOUNDATION INC.

Totals

Total revenue
$12,803,745
Total expenses
$1,257,564
Contributions and grants received
$8,926,741
Grants paid
$670,000
Program service revenue
$0
Investment income
$3,877,004
Other revenue
$0
Total assets, end of year
$186,668,999
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$186,668,999
Program services expenses (Part IX)
$850,582
Management and general expenses
$406,982
Fundraising expenses
$0
Program service expenses (Part III)
$850,582

Program services were 67.6% 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.

  • 1f · All other contributions, gifts and grants

    $8,926,741

  • 3 · Investment income

    total $4,036,439 · excluded $4,036,439

  • 7b · Less cost or other basis and sales expenses

    securities $159,435

  • 7c · Gain or loss

    securities -$159,435

  • 7d · Net gain or loss

    total -$159,435 · excluded -$159,435

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $670,000 · program services $670,000

  • 7 · Other salaries and wages

    total $180,582 · program services $180,582

  • 11b · Fees: legal

    total $335 · management and general $335

  • 11f · Fees: investment management

    total $207,705 · management and general $207,705

  • 11g · Fees: other

    total $132,000 · management and general $132,000

  • 13 · Office expenses

    total $95 · management and general $95

  • 17 · Travel

    total $500 · management and general $500

  • 24a · Other expenses: MISCELLANOUS

    total $64,087 · management and general $64,087

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $2,260 · management and general $2,260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $1,704

  • 2 · Savings and temporary cash investments

    beginning of year $10,907,666 · end of year $1,354,096

  • 11 · Investments: publicly traded securities

    beginning of year $123,598,487 · end of year $156,908,459

  • 12 · Investments: other securities

    beginning of year $20,548,741 · end of year $28,404,740

  • 25 · Other liabilities

    beginning of year $274,427

  • 28 · Net assets with donor restrictions

    beginning of year $154,780,467 · end of year $186,668,999

Mission and programs · 2023

Mission

THE FLOYD-POLK HEALTHCARE FOUNDATION, INC. (THE "FOUNDATION"), IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF AND TO CARRY OUT THE PURPOSES OF FLOYD HEALTHCARE MANAGEMENT, INC., POLK MEDICAL CENTER, INC., THE HOSPITAL AUTHORITY OF FLOYD COUNTY AND THE CEDARTOWN-POLK COUNTY HOSPITAL AUTHORITY. THE FOUNDATION WILL PROMOTE THE HEALTH OF THE COMMUNITIES SERVED BY EACH OF THE SUPPORTED ORGANIZATIONS, PROVIDE RELIEF TO THE POOR, DISTRESSED AND UNDERPRIVILEGED AND LESSEN THE BURDENS OF GOVERNMENT BY ENGAGING IN ACTIVITIES SUCH AS THE FOLLOWING: 1) PROVIDING FUNDING TO THE SUPPORTED ORGANIZATIONS TO ESTABLISH OR EXPAND PROGRAMS THAT ADDRESS HEALTH DISPARITIES; 2) MAKING CONTRIBUTIONS TO THE SUPPORTED ORGANIZATIONS TO FACILITATE THE DELIVERY OF HEALTHCARE SERVICES TO THE UNDERINSURED OR UNINSURED; AND 3) SAFEGUARDING ASSETS TO ENSURE THE CONTINUED OPERATION OF FLOYD MEDICAL CENTER AND POLK MEDICAL CENTER.

  • THE FOUNDATION WILL PROMOTE THE HEALTH OF THE COMMUNITIES SERVED BY EACH OF THE 4 SUPPORTED ORGANIZATIONS, PROVIDE RELIEF TO THE POOR, DISTRESSED AND UNDERPRIVILEGED AND LESSEN THE BURDENS OF GOVERNMENT BY ENGAGING IN ACTIVITIES THAT FURTHER PUBLIC HEALTH IN THE COMMUNITIES SERVED, PROVIDE FUNDS TO THE 4 SUPPORTED ORGANIZATIONS, AND SAFEGUARD ASSETS TO ENSURE THE CONTINUED OPERATION OF FLOYD MEDICAL CENTER AND POLK MEDICAL CENTER.

    Expenses $850,582 · Grants $670,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kurt Steunkel

    SECRETARY

    Total calculated
    $1,697,674
    From this org
    $0
    From related orgs
    $1,644,840
    Other
    $52,834
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $1,067,111 related
    Bonus
    not reported + $549,763 related
    Other
    not reported + $27,966 related
    Deferred
    not reported + $23,100 related
    Nontaxable benefits
    not reported + $29,734 related
    Filer's total
    not reported + $1,697,674 related

  • Bridgette Dingle MD

    TRUSTEE

    Total calculated
    $536,363
    From this org
    $0
    From related orgs
    $472,577
    Other
    $63,786
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $440,597 related
    Bonus
    not reported + $19,822 related
    Other
    not reported + $12,158 related
    Deferred
    not reported + $9,297 related
    Nontaxable benefits
    not reported + $54,489 related
    Filer's total
    not reported + $536,363 related

  • Philip Wheeler

    CFO

    Total calculated
    $451,911
    From this org
    $0
    From related orgs
    $413,816
    Other
    $38,095
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $316,397 related
    Bonus
    not reported + $74,527 related
    Other
    not reported + $22,892 related
    Deferred
    not reported + $28,801 related
    Nontaxable benefits
    not reported + $9,294 related
    Filer's total
    not reported + $451,911 related

  • Neil Gordon MD

    TRUSTEE

    Total calculated
    $323,706
    From this org
    $0
    From related orgs
    $284,554
    Other
    $39,152
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $205,070 related
    Bonus
    not reported + $73,531 related
    Other
    not reported + $5,953 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $39,152 related
    Filer's total
    not reported + $323,706 related

  • Kay Chumbler

    TRUSTEE

    Total calculated
    $10,054
    From this org
    $0
    From related orgs
    $10,054
    Other
    $0
    Hours/week
    1

  • David Johnson

    TRUSTEE

    Total calculated
    $6,035
    From this org
    $0
    From related orgs
    $6,035
    Other
    $0
    Hours/week
    1

  • W Frank Shelley

    TRUSTEE(TERM

    Total calculated
    $1,250
    From this org
    $0
    From related orgs
    $1,250
    Other
    $0

  • Denise Downer-McKinney

    TRUSTEE

    Total calculated
    $1,225
    From this org
    $0
    From related orgs
    $1,225
    Other
    $0
    Hours/week
    1

  • Laurie Atkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dan Baker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joey Baldwin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Roger Goss

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Mary Helen Heaner

    CHAIR/PRESID

    Total calculated
    $0
    Hours/week
    1

  • Donald Jonas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Himanshu Patel MD

    TRUSTEE(TERM

    Total calculated
    $0

  • Stephen R Briggs MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Chantz McClinic

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mary Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Chris Twyman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paul C White

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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, PAGE 1, PART I, LINE 3
THE FILING ORGANIZATION RELIES ON METHODS USED BY HFMI, THE SOLE MEMBER, AND THE CHARLOTTE MECKENLENBURG HOSPITAL AUTHORITY TO ESTABLISH COMPENSATION FOR ALL OFFICERS. NONE OF THE OFFICERS ARE COMPENSATED DIRECTLY BY THE FILING ORGANIZATION.
SCHEDULE J, PART III
CERTAIN DIRECTORS, OFFICERS AND KEY EMPLOYEES OF THE FILING ORGANIZATION MAY PARTICIPATE IN AND/OR RECEIVE PAYMENTS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN. THE DETERMINATION OF THE PAYMENT AMOUNT FROM A NON- QUALIFIED PLAN FOLLOWS THE EMPLOYMENT ORGANIZATION'S COMPENSATION PROCEDURES.

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

  • FLOYD HEALTHCARE MANAGEMENT

    $580,000

  • POLK MEDICAL CENTER

    $90,000

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
11 November 2024
IRS schema version
2023v5.0
Source object
202433189349304518

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