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← CATHOLIC HEALTH INITIATIVES COLORADO FOUNDATION

Form 990 for tax year 2023

Filed by CATHOLIC HEALTH INITIATIVES COLORADO FOUNDATION.

Totals

Total revenue
$15,663,370
Total expenses
$16,109,995
Contributions and grants received
$11,474,767
Grants paid
$13,862,655
Program service revenue
$0
Investment income
$4,022,528
Other revenue
$166,075
Total assets, end of year
$108,099,811
Total liabilities, end of year
$24,010,735
Net assets or fund balances, end of year
$84,089,076
Program services expenses (Part IX)
$13,872,789
Management and general expenses
$1,015,684
Fundraising expenses
$1,221,522
Program service expenses (Part III)
$13,872,789

Program services were 86.1% 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.

  • 1c · Fundraising events

    $429,251

  • 1d · Related organizations

    $1,941,693

  • 1e · Government grants (contributions)

    $1,180,101

  • 1f · All other contributions, gifts and grants

    $7,923,722

  • 1g · Noncash contributions included above

    $18,834

  • 3 · Investment income

    total $1,319,019 · excluded $1,319,019

  • 5 · Royalties

    total $1,655 · excluded $1,655

  • 7a · Gross sales of assets other than inventory

    securities $2,703,509

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

    securities $0

  • 7c · Gain or loss

    securities $2,703,509

  • 7d · Net gain or loss

    total $2,703,509 · excluded $2,703,509

  • 8a · Fundraising events: gross income

    $238,608

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

    $429,251

  • 8b · Fundraising events: direct expenses

    $256,383

  • 8c · Net income from fundraising events

    total -$17,775 · excluded -$17,775

  • 11a · Other revenue: OTHER MISCELLANEOUS RE

    total $182,195 · excluded $182,195

  • 11e · Other revenue, total

    $182,195

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,561,017 · program services $13,561,017

  • 2 · Grants to domestic individuals

    total $252,773 · program services $252,773

  • 3 · Grants to foreign organizations and individuals

    total $48,865 · program services $48,865

  • 7 · Other salaries and wages

    total $1,218,805 · management and general $648,582 · fundraising $570,223

  • 9 · Other employee benefits

    total $8,926 · management and general $1,526 · fundraising $7,400

  • 10 · Payroll taxes

    total $264,811 · management and general $57,111 · fundraising $207,700

  • 11c · Fees: accounting

    total $85,505 · management and general $85,505

  • 11e · Fees: professional fundraising services

    total $410,706 · fundraising $410,706

  • 13 · Office expenses

    total $79,020 · management and general $70,768 · fundraising $8,252

  • 14 · Information technology

    total $125,058 · management and general $125,058

  • 16 · Occupancy

    total $3,529 · management and general $3,141 · fundraising $388

  • 17 · Travel

    total $14,609 · management and general $10,583 · fundraising $4,026

  • 24a · Other expenses: DONOR RECOGNITION & GIF

    total $18,048 · management and general $6,031 · fundraising $12,017

  • 24b · Other expenses: BAD DEBTS

    total $10,541 · program services $10,134 · fundraising $407

  • 24c · Other expenses: EDUCATION

    total $5,743 · management and general $5,630 · fundraising $113

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $2,039 · management and general $1,749 · fundraising $290

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,147,715 · end of year $4,707,878

  • 3 · Pledges and grants receivable

    beginning of year $1,360,808 · end of year $1,043,946

  • 7 · Other notes and loans receivable

    beginning of year $25,201 · end of year $34,428

  • 9 · Prepaid expenses and deferred charges

    beginning of year $63,541 · end of year $76,739

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

    $534,624

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

    $460,742

  • 10c · Land, buildings and equipment, net

    beginning of year $73,882 · end of year $73,882

  • 11 · Investments: publicly traded securities

    beginning of year $4,720,059 · end of year $5,369,645

  • 12 · Investments: other securities

    beginning of year $89,344,847 · end of year $96,793,293

  • 15 · Other assets

    beginning of year $1,643 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,714,022 · end of year $9,139,277

  • 19 · Deferred revenue

    beginning of year $223,865 · end of year $635,261

  • 25 · Other liabilities

    beginning of year $14,761,944 · end of year $14,236,197

  • 27 · Net assets without donor restrictions

    beginning of year $23,841,762 · end of year $31,887,247

  • 28 · Net assets with donor restrictions

    beginning of year $52,196,103 · end of year $52,201,829

Mission and programs · 2023

Mission

THE MISSION OF THE CORPORATION IS TO NURTURE THE HEALING MINISTRY OF THE CHURCH, SUPPORTED BY EDUCATION AND RESEARCH. FIDELITY TO THE GOSPEL URGES THE CORPORATION TO EMPHASIZE HUMAN DIGNITY AND SOCIAL JUSTICE AS IT CREATES HEALTHIER COMMUNITIES.

Activities or mission (Part I)

SEE SCHEDULE O

  • CATHOLIC HEALTH INITIATIVES COLORADO FOUNDATION SOLICITS AND ADMINISTERS DONATIONS THAT BENEFIT THE CHARITABLE, HEALTH CARE, AND RETIREMENT HOME SERVICES PROVIDED BY CATHOLIC HEALTH INITIATIVES FACILITIES LOCATED IN THE STATE OF COLORADO.- COLORADO SPRINGS, FACILITIES SERVED INCLUDE PENROSE-ST. FRANCIS HEALTH SERVICES.- IN DENVER, FACILITIES SERVED INCLUDE ST. ANTHONY HOSPITAL, AND ST. ANTHONY HOSPICE.- IN PUEBLO, FACILITIES SER INCLUDE ST. MARY-CORWIN MEDICAL CENTER AND VILLA PUEBLO RETIREMENT RESIDENCE.- IN CANON CITY, FACILITIES SERVED INCLUDE ST. THOMAS MOORE HOSPITAL AND THE PROGRESSIVE CARE CENTER.- IN DURANGO, FACILITIES SERVED INCLUDE MERCY REGIONAL MEDICAL CENTER.- IN FRISCO AND THE SURROUNDING AREA, FACILITIES SERVED INCLUDE SUMMIT MEDICAL CENTER, BRISTLE GRANBY MEDICAL CENTER, AND 7 MILE CLINIC.ALL DONATIONS AND GRANTS MADE TO THE FOUNDATION ARE ADMINISTERED UNDER THE AUTHORITY OF THE LOCAL FOUNDATION BOARD. EACH LOCAL FOUNDATION BOARD IS COMPRISED OF REPRESENTATIVES FROM LOCAL COMMUNITIES, AS SELECTED BY REPRESENTATIVES FROM EACH COMMUNITY.QUALITATIVE DESCRIPTION OF COMMUNITY BENEFIT:THE FOUNDATION RAISED APPROXIMATELY $13.7 MILLION DURING THE YEAR ENDED JUNE 30 2024, THROUGH FUNDRAISING CAMPAIGNS, ANNUAL GIVING, MAJOR GIFTS, CORPORATE AND FOUNDATION GRANTS, AND PLANNED GIVING. THE FOUNDATION HAS RAISED OVER $80 MILLION OVER THE LAST 5 YEARS IN SUPPORT OF THE CATHOLIC HEALTH INITIATIVE FACILITIES IN THE STATE OF COLORADO.

    Expenses $13,872,789 · Grants $13,862,655

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

Listed in Part VII

  • ANDREW GAASCH

    PRESIDENT MTN. REGION & CFO THRU 5/24/24

    Total calculated
    $3,189,829
    From this org
    $0
    From related orgs
    $3,099,191
    Other
    $90,638
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,128,052 related
    Bonus
    $0 + $1,135,433 related
    Other
    $0 + $835,706 related
    Deferred
    $0 + $7,875 related
    Nontaxable benefits
    $0 + $82,763 related
    Filer's total
    $0 + $3,189,829 related

  • DAN ENDERSON

    DIRECTOR & GROUP PRESIDENT THRU 7/31/23

    Total calculated
    $2,748,864
    From this org
    $0
    From related orgs
    $2,687,246
    Other
    $61,618
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $509,956 related
    Bonus
    $0 + $861,315 related
    Other
    $0 + $1,315,975 related
    Deferred
    $0 + $10,500 related
    Nontaxable benefits
    $0 + $51,119 related
    Filer's total
    $0 + $2,748,865 related

  • TOM GESSEL

    DIRECTOR & GROUP PRESIDENT THRU 7/1/2023

    Total calculated
    $1,604,529
    From this org
    $0
    From related orgs
    $1,554,354
    Other
    $50,175
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $466,012 related
    Bonus
    $0 + $688,219 related
    Other
    $0 + $400,123 related
    Deferred
    $0 + $9,140 related
    Nontaxable benefits
    $0 + $41,035 related
    Filer's total
    $0 + $1,604,529 related

  • MATT LEARY

    DIRECTOR & MARKET CFO

    Total calculated
    $943,203
    From this org
    $0
    From related orgs
    $884,466
    Other
    $58,737
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $409,924 related
    Bonus
    $0 + $218,718 related
    Other
    $0 + $255,824 related
    Deferred
    $0 + $11,550 related
    Nontaxable benefits
    $0 + $47,187 related
    Filer's total
    $0 + $943,203 related

  • TADD RICHERT

    DIRECTOR/INTERIM MTN. REGION CFO

    Total calculated
    $856,145
    From this org
    $0
    From related orgs
    $790,606
    Other
    $65,539
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $659,594 related
    Bonus
    $0 + $129,463 related
    Other
    $0 + $1,549 related
    Deferred
    $0 + $7,875 related
    Nontaxable benefits
    $0 + $57,664 related
    Filer's total
    $0 + $856,145 related

  • CARRIE BACH

    GROUP DIRECTOR OF DEVELOPMENT THRU 8/26/23

    Total calculated
    $201,784
    From this org
    $177,502
    From related orgs
    $0
    Other
    $24,282
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,426
    Bonus
    $20,530
    Other
    $48,546
    Deferred
    $921
    Nontaxable benefits
    $23,361
    Filer's total
    $201,784

  • CANDY EMERSON

    DEVELOPMENT OFFICER

    Total calculated
    $190,496
    From this org
    $151,983
    From related orgs
    $0
    Other
    $38,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,452
    Bonus
    $19,512
    Other
    $5,019
    Deferred
    $3,168
    Nontaxable benefits
    $35,346
    Filer's total
    $190,497

  • ALEXANDRA STETSON-LEE

    SR PHILANTHROPY OFFICER

    Total calculated
    $167,143
    From this org
    $122,995
    From related orgs
    $0
    Other
    $44,148
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,055
    Bonus
    $16,873
    Other
    $67
    Deferred
    $4,668
    Nontaxable benefits
    $39,480
    Filer's total
    $167,143

  • KATHERINE STEWART

    SR PHILANTHROPY OFFICER

    Total calculated
    $137,354
    From this org
    $124,407
    From related orgs
    $0
    Other
    $12,947
    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

  • 1a · Housing allowance or residence for personal use
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 1A
DURING THE CALENDAR YEAR 2023, CATHOLIC HEALTH INITIATIVES COLORADO FOUNDATION'S DEVELOPMENT OFFICER WAS PROVIDED WITH EMPLOYER-PAID TEMPORARY HOUSING IN CONJUNCTION WITH THE RECRUITMENT AND RELOCATION OF THE INDIVIDUAL TO CATHOLIC HEALTH INITIATIVES COLORADO FOUNDATION. THESE BENEFITS ARE PAID PURSUANT TO A WRITTEN POLICY. COMMONSPIRIT MOUNTAIN REGION'S HUMAN RESOURCES DEPARTMENT OFFERS THIS BENEFIT ONLY IN CIRCUMSTANCES WHERE A SUITABLE CANDIDATE CANNOT BE RECRUITED LOCALLY. ALL SUCH BENEFITS ARE INCLUDED IN THE EMPLOYEE'S FORM W-2.
PART I, LINE 3
DURING THE CALENDAR YEAR 2023, COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL WAS ESTABLISHED AND PAID BY COMMONSPIRIT MOUNTAIN REGION, A RELATED ORGANIZATION. COMMONSPIRIT MOUNTAIN REGION, USED ONE OR MORE OF THE METHODS DESCRIBED IN SCHEDULE J, PART I, LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION: (1) COMPENSATION COMMITTEE; (2) INDEPENDENT COMPENSATION CONSULTANT; (3) WRITTEN EMPLOYMENT CONTRACT; (4) COMPENSATION SURVEY OR STUDY; (5) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINES 4A-B
PART I, 4A: CERTAIN REPORTABLE INDIVIDUALS ARE COVERED BY A MANAGEMENT SEVERANCE POLICY THAT PROVIDES COMPENSATION, BASED ON THE FACILITY OF EMPLOYMENT, IN THE EVENT OF A POSITION ELIMINATION OR OTHER INVOLUNTARY TERMINATION, IN ACCORDANCE WITH THE GUIDELINES OF THE POLICY. CERTAIN REPORTABLE INDIVIDUALS ARE COVERED BY A NON-MANAGEMENT SEVERANCE POLICY THAT PROVIDES COMPENSATION, RANGING FROM PAYMENTS OF 2 WEEKS TO 12 WEEKS OF BASE COMPENSATION, DEPENDING ON THE EMPLOYEE'S POSITION AND TENURE, IN THE EVENT OF A POSITION ELIMINATION OR OTHER INVOLUNTARY TERMINATION, IN ACCORDANCE WITH THE GUIDELINES OF THE POLICY. THE FOLLOWING REPORTABLE INDIVIDUALS RECEIVED SEVERANCE PAYMENTS DURING THE 2023 CALENDAR YEAR, AND THESE SEVERANCE PAYMENTS WERE INCLUDED IN THE INDIVIDUALS' W-2 INCOME AND REPORTABLE COMPENSATION ON PART VII AND SCHEDULE J, PART II, COLUMN (B)(III): T. GESSEL, $209,551 PART I, 4B: DURING THE CALENDAR YEAR 2023, THE FOLLOWING DISTRIBUTIONS WERE MADE BY COMMONSPIRIT MOUNTAIN REGION FROM THE SUPPLEMENTAL NON-QUALIFIED DEFERRED COMPENSATION PLAN AND/OR PENSION RESTORATION BENEFIT: D. ENDERSON, $1,077,466; A. GAASCH $584,908 AND T. GESSEL, $186,423. DUE TO CERTAIN VESTING RULES, PARTICIPANTS WHO HAVE MET CERTAIN REQUIREMENTS ARE ELIGIBLE TO RECEIVE THEIR 2023 CONTRIBUTIONS IN CASH. DURING 2023, THE FOLLOWING PAYMENTS WERE MADE BY COMMONSPIRIT MOUNTAIN REGION: D. ENDERSON, $229,762 AND A. GAASCH $240,116. COMPENSATION AMOUNTS FOR THE SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS DISCUSSED ABOVE ARE REPORTED AS DEFERRED COMPENSATION IN THE YEAR ACCRUED (SCHEDULE J, PART II, COLUMN C) AND ARE REFLECTED AGAIN AS REPORTABLE COMPENSATION IN THE YEAR PAID (SCHEDULE J, PART II, COLUMN B(III)).

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202531359349307848

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