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Nonprofiteer
← ALBANY MED HEALTH SYSTEM

Form 990 for tax year 2023

Filed by ALBANY MED HEALTH SYSTEM.

Totals

Total revenue
$6,161,790
Total expenses
$2,236,519
Contributions and grants received
$5,177,526
Grants paid
$1,533,037
Program service revenue
$0
Investment income
$209,475
Other revenue
$774,789
Total assets, end of year
$13,071,282
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$13,071,282
Program services expenses (Part IX)
$2,236,519
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,236,519

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.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $77,462

  • 1f · All other contributions, gifts and grants

    $5,100,064

  • 1g · Noncash contributions included above

    $16,423

  • 3 · Investment income

    total $191,386 · excluded $191,386

  • 7a · Gross sales of assets other than inventory

    securities $1,722,886

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

    securities $1,704,797

  • 7c · Gain or loss

    securities $18,089

  • 7d · Net gain or loss

    total $18,089 · excluded $18,089

  • 8a · Fundraising events: gross income

    $192,971

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

    $77,462

  • 8b · Fundraising events: direct expenses

    $36,651

  • 8c · Net income from fundraising events

    total $156,320 · excluded $156,320

  • 11a · Other revenue: EXPENSE REIMBURSEMENT FROM GFH

    total $618,469 · related or exempt $618,469

  • 11e · Other revenue, total

    $618,469

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,533,037 · program services $1,533,037

  • 5 · Compensation of officers, directors and key employees

    total $237,857 · program services $237,857

  • 7 · Other salaries and wages

    total $148,484 · program services $148,484

  • 9 · Other employee benefits

    total $71,280 · program services $71,280

  • 11c · Fees: accounting

    total $7,088 · program services $7,088

  • 11g · Fees: other

    total $59,134 · program services $59,134

  • 12 · Advertising and promotion

    total $123,720 · program services $123,720

  • 13 · Office expenses

    total $7,349 · program services $7,349

  • 24a · Other expenses: BAD DEBT

    total $80,124 · program services $80,124

  • 24b · Other expenses: MISCELLANEOUS

    total -$31,554 · program services -$31,554

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,592,340 · end of year $2,496,810

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $521,960 · end of year $2,791,005

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $6,060,195 · end of year $7,780,912

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $2,555

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $88,067 · end of year $1,188,640

  • 28 · Net assets with donor restrictions

    beginning of year $8,086,428 · end of year $11,882,642

Mission and programs · 2023

Mission

GLENS FALLS HOSPITAL FOUNDATION WAS ESTABLISHED TO RAISE FUNDS FOR GLENS FALLS HOSPITAL, A 501(C)(3) ORGANIZATION. SEE SCHEDULE O FOR FURTHER DESCRIPTION.

Activities or mission (Part I)

SEE SCHEDULE O

  • THE GLENS FALLS HOSPITAL FOUNDATION WAS ESTABLISHED PRIMARILY TO RAISE FUNDS FOR GLENS FALLS HOSPITAL. THE GLENS FALLS HOSPITAL FOUNDATION, A NOT-FOR-PROFIT CORPORATION WAS INCORPORATED IN THE STATE OF NEW YORK, IS EXEMPT FROM FEDERAL INCOME TAX ON RELATED INCOME PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

    Expenses $2,236,519 · Grants $1,533,037 · Revenue $618,469

As filed on the 2023 return.

Listed in Part VII

  • Paul Scimeca

    PRESIDENT & CEO

    Total calculated
    $783,962
    From this org
    $0
    From related orgs
    $752,714
    Other
    $31,248
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $641,483 related
    Bonus
    $0 + $84,375 related
    Other
    $0 + $26,856 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $18,048 related
    Filer's total
    $0 + $783,962 related

  • Christopher Mason

    DIRECTOR

    Total calculated
    $761,524
    From this org
    $0
    From related orgs
    $723,316
    Other
    $38,208
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $520,144 related
    Bonus
    $0 + $180,252 related
    Other
    $0 + $22,920 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $25,008 related
    Filer's total
    $0 + $761,524 related

  • Jordan Blackwood MD

    DIRECTOR

    Total calculated
    $633,712
    From this org
    $0
    From related orgs
    $599,392
    Other
    $34,320
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $437,271 related
    Bonus
    $0 + $161,701 related
    Other
    $0 + $420 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $21,120 related
    Filer's total
    $0 + $633,712 related

  • Terry Celadon

    DIRECTOR

    Total calculated
    $9,993
    From this org
    $0
    From related orgs
    $9,993
    Other
    $0
    Hours/week
    0.5

  • Katherine Herlihy-Schwenker

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Kristy Moore

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • Marc Monahan

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Andrew Brodie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • David J Caruso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Cruz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Harrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joshua Koons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lindsey Kostun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Mihaly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Romeo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa Ostrander

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Donna Tan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jayne Van Schaick DDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • John Wright

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cindy Sherwood

    GFH VP FOUNDATION

    Total calculated
    $262,623
    From this org
    $0
    From related orgs
    $237,857
    Other
    $24,766
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $197,320 related
    Bonus
    $0 + $29,810 related
    Other
    $0 + $10,727 related
    Deferred
    $0 + $9,766 related
    Nontaxable benefits
    $0 + $15,000 related
    Filer's total
    $0 + $262,623 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

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)

PART I, LINE 3
GLENS FALLS HOSPITAL IS THE PAYING ORGANIZATION FOR ALL SALARIES OF GLENS FALLS HOSPITAL FOUNDATION. IN DETERMINING THE COMPENSATION OF THE ORGANIZATIONS CEO, GLENS FALLS HOSPITAL, A RELATED ORGANIZATION, USES A COMPENSATION COMMITTEE, AN INDEPENDENT CONSULTANT, A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION STUDIES AND BOARD APPROVAL.

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.

  • IMAGING SERVICES OF NORTHEASTERN NY LLC

    N/A · DIAG RADIOLOGY · NY

Related corporations and trusts

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

  • COLUMBIA-GREEN SERVICES INC

    C · HEALTHCARE · NY

  • MADISON AVENUE SERVICES CORP

    C · OTHER (INACTIVE) · NY

  • VNA OF ALBANY HOME CARE CORP

    C · HOME CARE · NY

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443189349311114

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