Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $197,805

• 1d · Related organizations

  $962,803

• 1f · All other contributions, gifts and grants

  $1,377,732

• 1g · Noncash contributions included above

  $96,820

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $138,852 · excluded $138,852

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $5,655,207

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

  securities $4,410,010

• 7c · Gain or loss

  securities $1,245,197 · other assets $0

• 7d · Net gain or loss

  total $1,245,197 · excluded $1,245,197

• 8a · Fundraising events: gross income

  $86,374

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

  $197,805

• 8b · Fundraising events: direct expenses

  $142,683

• 8c · Net income from fundraising events

  total -$56,309 · excluded -$56,309

• 9a · Gaming: gross income

  $16,860

• 9b · Gaming: direct expenses

  $7,500

• 9c · Net income from gaming

  total $9,360 · excluded $9,360

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,795,392 · program services $4,795,392

• 2 · Grants to domestic individuals

  total $1,000 · program services $1,000

• 11c · Fees: accounting

  total $18,200 · management and general $18,200

• 11f · Fees: investment management

  total $31,821 · management and general $31,821

• 11g · Fees: other

  total $787,466 · program services $551,226 · management and general $236,240 · fundraising $0

• 12 · Advertising and promotion

  total $5,440 · program services $5,440

• 13 · Office expenses

  total $18,986 · program services $13,290 · management and general $5,696

• 16 · Occupancy

  total $22,632 · program services $15,842 · management and general $6,790

• 17 · Travel

  total $117 · program services $82 · management and general $35

• 24a · Other expenses: ADMINISTRATIVE EXPENSE

  total $6,000 · management and general $6,000

• 24b · Other expenses: FOOD

  total $2,217 · program services $1,552 · management and general $665

• 24c · Other expenses: non medical supplies

  total $5,368 · program services $3,758 · management and general $1,610

• 24e · All other expenses

  total $100,910 · program services $70,637 · management and general $30,273 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $5,316,959 · end of year $2,154,914

• 3 · Pledges and grants receivable

  beginning of year $1,199,690 · end of year $1,766,473

• 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

• 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 $5,112,433 · end of year $3,518,423

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  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

• 25 · Other liabilities

  beginning of year $129,573 · end of year $190,462

• 27 · Net assets without donor restrictions

  beginning of year $1,591,856 · end of year $1,622,878

• 28 · Net assets with donor restrictions

  beginning of year $9,907,653 · end of year $5,626,470

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

COMPENSATION OF THE TOP MANAGEMENT OFFICAL WAS DETERMINED BY GARNET HEALTH AND PAID BY GARNET HEALTH. THE SALARY AND RELATED EXPENSES WERE THEN CHARGED TO GARNET HEALTH MEDICAL CENTER. GARNET HEALTH USES A COMPENSATION COMMITTEE MADE UP OF INDEPENDENT MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD, AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORANIZATIONS, COMPENSATION SURVEYS OR STUDIES, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE OF GARNET HEALTH.

Schedule J, Part I, Line 4a Severance or change-of-control payment

During the tax year, severance of $398,548 was paid to Brian Tew. The amounts are reported in Part II, Column B(iii). At the end of the year, Alfred Pilong entered into a severance agreement. No payments were made under the agreement in 2022.