Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $6,131,228

• 1d · Related organizations

  $4,366,204

• 1e · Government grants (contributions)

  $1,877,484

• 1f · All other contributions, gifts and grants

  $24,873,551

• 1g · Noncash contributions included above

  $501,864

• 3 · Investment income

  total $3,793,058 · excluded $3,793,058

• 7a · Gross sales of assets other than inventory

  securities $3,564,850

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

  securities $3,533,232

• 7c · Gain or loss

  securities $31,618

• 7d · Net gain or loss

  total $31,618 · excluded $31,618

• 8a · Fundraising events: gross income

  $563,100

• 8a · Fundraising events: contributions included on line 1c

  $6,131,228

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $563,100 · excluded $563,100

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $21,082,635 · program services $21,082,635

• 7 · Other salaries and wages

  total $2,619,632 · management and general $552,257 · fundraising $2,067,375

• 9 · Other employee benefits

  total $297,797 · management and general $65,515 · fundraising $232,282

• 10 · Payroll taxes

  total $144,143 · management and general $31,711 · fundraising $112,432

• 11b · Fees: legal

  total $905 · management and general $905

• 11e · Fees: professional fundraising services

  total $243,111 · fundraising $243,111

• 11f · Fees: investment management

  total $66,204 · management and general $66,204

• 11g · Fees: other

  total $426,604 · management and general $256,792 · fundraising $169,812

• 12 · Advertising and promotion

  total $201,373 · fundraising $201,373

• 13 · Office expenses

  total $8,817 · management and general $8,817

• 14 · Information technology

  total $62,615 · management and general $10,577 · fundraising $52,038

• 16 · Occupancy

  total $937 · management and general $937

• 17 · Travel

  total $9,327 · management and general $9,327

• 19 · Conferences, conventions and meetings

  total $50,401 · management and general $26,083 · fundraising $24,318

• 20 · Interest

  total $32,836 · management and general $32,836

• 22 · Depreciation, depletion and amortization

  total $53,512 · management and general $53,512

• 24a · Other expenses: SUBSCRIPTIONS

  total $7,915 · program services $0 · management and general $7,915 · fundraising $0

• 24b · Other expenses: RECRUITMENT

  total $3,562 · program services $0 · management and general $3,562 · fundraising $0

• 24c · Other expenses: DUES & MEMBERSHIP

  total $3,234 · program services $0 · management and general $3,234 · fundraising $0

• 24d · Other expenses: MEDICAL SUPPLIES

  total $2,862 · program services $0 · management and general $2,862 · fundraising $0

• 24e · All other expenses

  total $271,980 · management and general $202,171 · fundraising $69,809

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $58,596,106 · end of year $63,003,124

• 3 · Pledges and grants receivable

  beginning of year $5,820,512 · end of year $12,680,774

• 4 · Accounts receivable

  beginning of year $368,655 · end of year $634,793

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $11,977,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,291 · end of year $28,804

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

  $156,350

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

  $104,087

• 10c · Land, buildings and equipment, net

  beginning of year $37,047 · end of year $52,263

• 11 · Investments: publicly traded securities

  beginning of year $16,463,070 · end of year $19,740,205

• 12 · Investments: other securities

  beginning of year $2,040,965 · end of year $2,137,295

• 14 · Intangible assets

  beginning of year $3,411,710 · end of year $3,411,710

• 15 · Other assets

  beginning of year $605,000 · end of year $605,000

• 17 · Accounts payable and accrued expenses

  beginning of year $307,995 · end of year $289,834

• 19 · Deferred revenue

  beginning of year $4,256,146 · end of year $3,844,599

• 21 · Escrow or custodial account liability

  beginning of year $74,598 · end of year $88,056

• 23 · Secured mortgages and notes payable

  end of year $11,977,000

• 25 · Other liabilities

  beginning of year $6,555,856 · end of year $6,436,031

• 27 · Net assets without donor restrictions

  beginning of year $7,982,500 · end of year $10,006,069

• 28 · Net assets with donor restrictions

  beginning of year $68,172,261 · end of year $81,629,379

The filer's explanations (Part III)

PART I, LINE 3

LEE HEALTH SYSTEM, INC., A RELATED ORGANIZATION OF LEE MEMORIAL HEALTH SYSTEM FOUNDATION, INC., USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY

PART I, LINE 4B

TO RETAIN AND REWARD SELECTED LEADERSHIP, THE LEE HEALTH SYSTEM, INC. MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). THE SERP PROVIDES ELIGIBLE PARTICIPANTS WITH SUPPLEMENTAL RETIREMENT BENEFITS. ADDITIONALLY, SERP ACCOUNTS ARE CREDITED WITH EARNINGS EQUAL TO THE US TREASURY YIELD CURVE RATE ("CONSTANT MATURITY TREASURY" RATE) FOR A TEN (10) YEAR US TREASURY SECURITY, PLUS ONE PERCENT (1%), UNTIL THE CONTRIBUTION AND EARNINGS HAVE BEEN FULLY DISTRIBUTED. BENEFITS ARE VESTED THREE YEARS FROM THE YEAR AWARDED. THE PLAN IS AN UNFUNDED PLAN ESTABLISHED AND MAINTAINED FOR THE PRIMARY PURPOSE OF PROVIDING DEFERRED COMPENSATION BENEFITS FOR EMPLOYEES WHO SUBSTANTIALLY CONTRIBUTE TO THE SUCCESS OF THE ORGANIZATION. EMPLOYER CONTRIBUTIONS AND PARTICIPANT ELIGIBILITY ARE COMPLETELY DISCRETIONARY. THE PLAN IS A NONQUALIFIED DEFERRED COMPENSATION PLAN THAT IS INTENDED TO COMPLY WITH SECTIONS 457(F) AND 409A OF THE CODE.

PART I, LINE 5

LEE HEALTH MAINTAINS A SHORT-TERM INCENTIVE PLAN (STIP) THAT PROVIDES ELIGIBLE EMPLOYEES WITH THE OPPORTUNITY TO EARN INCENTIVE COMPENSATION TIED TO ACHIEVEMENT OF ORGANIZATIONAL PERFORMANCE GOALS. INCENTIVE AWARDS ARE BASED ON PREDEFINED OPERATIONAL, QUALITY, PATIENT EXPERIENCE, WORKFORCE, GROWTH, AND FINANCIAL METRICS, AND ARE PAYABLE ONLY IF SPECIFIED PERFORMANCE THRESHOLDS AND OVERALL FINANCIAL REQUIREMENTS ARE MET.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• PARAMOUNT SURGERY CENTER LLC

  HEALTH CARE · FL

• LH GPA FUND I LP

  PRIVATE INVESTMENT FUND · DE

Related corporations and trusts

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

• BEST CARE PARTNERS INC

  C · HEALTH INSURANCE · FL