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Nonprofiteer
← GRADY CASS INCORPORATED

Form 990 for tax year 2022

Filed by GRADY CASS INCORPORATED.

Totals

Total revenue
$0
Total expenses
$5,334,672
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$238,822,855
Total liabilities, end of year
$42,984,150
Net assets or fund balances, end of year
$195,838,705
Program services expenses (Part IX)
$5,334,672
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$5,334,672

Program services were 100.0% 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.

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: NMTC GROUND SUBLEASE

    total $4,615,680 · program services $4,615,680

  • 24b · Other expenses: NMTC INTEREST EXPENSE

    total $329,850 · program services $329,850

  • 24c · Other expenses: NMTC FEES

    total $206,979 · program services $206,979

  • 24d · Other expenses: NMTC AMORTIZATION

    total $181,903 · program services $181,903

  • 24e · All other expenses

    total $260 · program services $260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $884 · end of year $624

  • 4 · Accounts receivable

    beginning of year $10,023 · end of year $11,023

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

    $206,921,011

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $128,605,787 · end of year $206,921,011

  • 15 · Other assets

    beginning of year $32,424,422 · end of year $31,890,197

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,024,222 · end of year $9,643,506

  • 25 · Other liabilities

    beginning of year $33,158,741 · end of year $33,340,644

  • 27 · Net assets without donor restrictions

    beginning of year $122,858,153 · end of year $195,838,705

Mission and programs · 2022

Mission

TO HOLD TITLE TO PROPERTY, COLLECT INCOME, TO DISTRIBUTE INCOME, LESSEXPENSES TO GRADY MEMORIAL HOSPITAL CORPORATION, AN ORGANIZATION ASDESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND TOPERFORM ALL OTHER ACTS NECESSARY OR INCIDENTAL TO THE ABOVE AND TO DOWHATEVER IS DEEMED NECESSARY, USEFUL, ADVISABLE, OR CONDUCTIVE,DIRECTLY OR INDIRECTLY, AS DETERMINED BY THE BOARD OF DIRECTORS, TOCARRY OUT THE PURPOSE OF THE CORPORATION, AS SET FORTH IN THESEARTICLES OF INCORPORATION, INCLUDING THE EXERCISE OF ALL OTHER POWERAND AUTHORITY ENJOYED BY CORPORATION GENERALLY BY VIRTUE OF THEPROVISIONS OF THE GEORGIA NONPROFIT CORPORATION CODE (WITHIN ANDSUBJECT TO THE LIMITATIONS OF SECTION 501(C)(2) OF THE INTERNALREVENUE CODE).

Activities or mission (Part I)

TO HOLD TITLE TO PROPERTY, COLLECT INCOME AND DISTRIBUTE TO GRADY MEMORIAL HOSPITAL CORPORATION, A 501(C)(3) ORGANIZATION.

  • ON AUGUST 27, 2020, GRADY MEMORIAL HOSPITAL CORPORATION (GMHC)ENTERED INTO A TRANSACTION WITH A BANK AND CERTAIN LENDERS TOOBTAIN FINANCING THROUGH THE NEW MARKETS TAX CREDIT (NMTC) PROGRAMSPONSORED BY THE U.S. DEPARTMENT OF TREASURY. THE NMTC PROGRAMPERMITS CERTAIN TAXPAYERS TO RECEIVE A CREDIT AGAINST FEDERALINCOME TAXES FOR MAKING QUALIFIED EQUITY INVESTMENTS (QEIS) INCOMMUNITY DEVELOPMENT ENTITIES (CDES). THROUGH THE TRANSACTION,GRADY CASS, INC., A WHOLLY-OWNED SUBSIDIARY OF GMHC, WAS FORMED FORTHE PURPOSE OF EFFECTING GMHC'S PARTICIPATION IN THE NMTC PROGRAM.THE U.S. TAX CREDIT PROVIDED TO THE INVESTOR TOTALS 39 PERCENT OFTHE INITIAL VALUE OF THE QEI AND IS CLAIMED OVER A SEVEN-YEARCREDIT ALLOWANCE PERIOD.

    Expenses $5,334,672

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John M Haupert Fache

    DIRECTOR & PRESIDENT

    Total calculated
    $2,108,166
    From this org
    $0
    From related orgs
    $2,069,579
    Other
    $38,587
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,321,292 related
    Bonus
    $0 + $722,287 related
    Other
    $0 + $26,000 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $26,387 related
    Filer's total
    $0 + $2,108,166 related

  • Timothy Jefferson

    DIRECTOR & VP & SECRETARY

    Total calculated
    $888,983
    From this org
    $0
    From related orgs
    $836,880
    Other
    $52,103
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,516 related
    Bonus
    $0 + $205,738 related
    Other
    $0 + $120,626 related
    Deferred
    $0 + $28,315 related
    Nontaxable benefits
    $0 + $23,787 related
    Filer's total
    $0 + $888,982 related

  • Anthony Saul

    DIRECTOR & CFO

    Total calculated
    $794,037
    From this org
    $0
    From related orgs
    $760,965
    Other
    $33,072
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $577,825 related
    Bonus
    $0 + $162,640 related
    Other
    $0 + $20,500 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $20,872 related
    Filer's total
    $0 + $794,037 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

The filer's explanations (Part III)

PART I, LINE 4B
SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS THE EXECUTIVE STAFF OF GRADY MEMORIAL HOSPITAL CORPORATION, THE TAXPAYER'S SOLE MEMBER, PARTICIPATE IN A 457F PLAN. THE OFFICER LISTED ON FORM 990, PART VII, SECTION A RECEIVED THE FOLLOWING PAYMENT FROM THE PLAN IN 2022: JEFFERSON, TIMOTHY $97,200

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.

  • RELIANT EMERGENCY SPECIALTIES

    C · FLEET MAINTEN · GA

    Directly controlled by GMHC

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202323139349304782

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