Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $603,000

• 2a · Program service revenue: Net Patient Service Revenue

  total $66,717,459 · related or exempt $66,717,459

• 2b · Program service revenue: Clinical and other revenue

  total $6,316,647 · related or exempt $6,316,647

• 2c · Program service revenue: Research Revenue

  total $2,845,479 · related or exempt $2,845,479

• 2d · Program service revenue: Admin, Supervision, & Teaching

  total $1,136,073 · related or exempt $1,136,073

• 3 · Investment income

  total $122,524 · unrelated business $28,244 · excluded $94,280

• 11a · Other revenue: Non-operating pension gains

  total $953,447 · excluded $953,447

• 11e · Other revenue, total

  $953,447

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $160,209 · program services $160,209

• 5 · Compensation of officers, directors and key employees

  total $7,947,201 · program services $7,947,201

• 7 · Other salaries and wages

  total $38,182,340 · program services $37,036,870 · management and general $1,145,470

• 8 · Pension plan contributions

  total $4,961,155 · program services $4,812,320 · management and general $148,835

• 9 · Other employee benefits

  total $5,682,368 · program services $5,511,897 · management and general $170,471

• 10 · Payroll taxes

  total $1,422,529 · program services $1,380,000 · management and general $42,529

• 11b · Fees: legal

  total $20,893 · management and general $20,893

• 11f · Fees: investment management

  total $83,322 · management and general $83,322

• 11g · Fees: other

  total $1,752,920 · program services $15,354 · management and general $1,737,566

• 13 · Office expenses

  total $1,793,680 · program services $1,700,262 · management and general $93,418

• 14 · Information technology

  total $202,816 · program services $202,816

• 16 · Occupancy

  total $1,662,951 · program services $1,662,951

• 17 · Travel

  total $26,497 · program services $26,497

• 18 · Travel or entertainment for public officials

  total $311,783 · program services $311,783

• 22 · Depreciation, depletion and amortization

  total $59,555 · program services $59,555

• 23 · Insurance

  total $1,195,437 · program services $1,108,270 · management and general $87,167

• 24a · Other expenses: Billing and collection

  total $2,391,906 · program services $2,391,906

• 24b · Other expenses: PO management services

  total $1,395,470 · program services $1,395,470

• 24c · Other expenses: Net Patient Service Rev

  total $1,334,349 · program services $1,334,349

• 24d · Other expenses: Recruitment expense

  total $1,048,634 · program services $1,048,634

• 24e · All other expenses

  total $1,015,641 · program services $1,015,641

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,498,027 · end of year $5,795,305

• 2 · Savings and temporary cash investments

  beginning of year $4,977,117 · end of year $1,237,372

• 4 · Accounts receivable

  beginning of year $8,830,610 · end of year $10,185,139

• 5 · Loans and receivables from officers and key people

  beginning of year $57,806 · end of year $47,376

• 7 · Other notes and loans receivable

  beginning of year $2,258,542 · end of year $3,060,771

• 9 · Prepaid expenses and deferred charges

  beginning of year $247,970 · end of year $304,629

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

  $349,780

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

  $345,854

• 10c · Land, buildings and equipment, net

  beginning of year $63,480 · end of year $3,926

• 11 · Investments: publicly traded securities

  beginning of year $23,303,610 · end of year $25,626,834

• 12 · Investments: other securities

  beginning of year $61,212,091 · end of year $73,875,861

• 15 · Other assets

  beginning of year $15,448,904 · end of year $21,865,080

• 17 · Accounts payable and accrued expenses

  beginning of year $4,172,631 · end of year $4,508,922

• 18 · Grants payable

  beginning of year $1,833,330 · end of year $166,660

• 19 · Deferred revenue

  beginning of year $110,884 · end of year $117,894

• 25 · Other liabilities

  beginning of year $14,145,864 · end of year $20,632,581

• 27 · Net assets without donor restrictions

  beginning of year $97,527,032 · end of year $115,328,536

• 28 · Net assets with donor restrictions

  beginning of year $2,108,416 · end of year $1,247,700

The filer's explanations (Part III)

Part I, Line 1a

Boston Children's Heart Foundation, Inc. (the Foundation) established a Tuition Assistance Plan that superseded the previous Tuition Plan effective January 1, 2007. The plan provides annual contribution payments for eligible participants, based on years of membership service to the Foundation and number of children, to a qualified state tuition program described in Section 529 of the Internal Revenue Code 1986 as amended. The plan provides an income tax gross-up equal to 30% of such contributions to assist participants in defraying the cost of income taxes. The Plan provides for a transition for those participants who received benefits under the previous plan, or those who were Foundation members for more than three years and had at least one child who had attained age 14 as of July 1, 2007. These members will not have the same interest accrual advantage as those with younger children, and can elect to have a lump-sum contribution or can elect to have tuition reimbursement up to the amount of tuition established by Harvard University, plus an income tax gross-up based on years of membership service as an Assistant Professor or higher up to a maximum of 34%. The following participated in the plans for September 30, 2023: Kimberly Mills, MD; David Shidlow, MD; Elizabeth DeWitt, MD; David Kane, MD; and Christina VanderPluym, MD. These amounts are included in the recipients' W-2.

Part I, Line 7

Bonus compensation amounts are determined by the Chief of Boston Children's Heart Foundation, Inc. (the Foundation). The amounts are discretionary based on job performance and on the financial performance of the Foundation.