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Nonprofiteer
← SVMC HOLDINGS INC

Form 990 for tax year 2024

Filed by SVMC HOLDINGS INC.

Totals

Total revenue
$707,034,879
Total expenses
$740,556,985
Contributions and grants received
$5,531,768
Grants paid
$1,004,304
Program services expenses (Part IX)
$700,181,076
Management and general expenses
$39,078,564
Fundraising expenses
$1,297,345
Program service expenses (Part III)
$700,181,076

Program services were 94.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • William Jennings

    President/Director

    Total calculated
    $1,728,141
    From this org
    $0
    From related orgs
    $1,507,121
    Other
    $221,020
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $1,023,966 related
    Bonus
    $0 + $471,803 related
    Other
    $0 + $11,352 related
    Deferred
    $0 + $180,609 related
    Nontaxable benefits
    $0 + $40,411 related
    Filer's total
    $0 + $1,728,141 related

  • Rina Bakalar

    Director

    Total calculated
    $0
    Hours/week
    2

  • Carol Birks

    Director

    Total calculated
    $0
    Hours/week
    2

  • Eddy Castillo MD

    Director

    Total calculated
    $0
    Hours/week
    2

  • Robin Cautin

    Director

    Total calculated
    $0
    Hours/week
    2

  • Peter Cimino MD

    Director

    Total calculated
    $0
    Hours/week
    2

  • George Estrada

    Director

    Total calculated
    $0
    Hours/week
    2

  • Douglass Grabe

    Vice Chair

    Total calculated
    $0
    Hours/week
    3

  • Rahul Gupta MD

    Director (Thru 06/25)

    Total calculated
    $0
    Hours/week
    2

  • Debra Liebowitz

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jane Manning

    Director

    Total calculated
    $0
    Hours/week
    2

  • Dara Richards MD

    Director

    Total calculated
    $0
    Hours/week
    2

  • Strick Woods MD

    Director

    Total calculated
    $0
    Hours/week
    2

  • Deacon Patrick Toole

    Director

    Total calculated
    $0
    Hours/week
    2

  • Lucy Teixeira

    Chair

    Total calculated
    $0
    Hours/week
    3

  • Andrew Turczak

    SVP

    Total calculated
    $437,888
    From this org
    $0
    From related orgs
    $387,512
    Other
    $50,376
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $303,262 related
    Bonus
    $0 + $83,564 related
    Other
    $0 + $686 related
    Deferred
    $0 + $22,191 related
    Nontaxable benefits
    $0 + $28,185 related
    Filer's total
    $0 + $437,888 related

  • Christopher Given

    VP

    Total calculated
    $486,669
    From this org
    $0
    From related orgs
    $455,045
    Other
    $31,624
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $338,430 related
    Bonus
    $0 + $114,887 related
    Other
    $0 + $1,728 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $7,474 related
    Filer's total
    $0 + $486,669 related

  • John Rossi

    VP

    Total calculated
    $443,095
    From this org
    $0
    From related orgs
    $414,770
    Other
    $28,325
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $309,223 related
    Bonus
    $0 + $104,530 related
    Other
    $0 + $1,017 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $4,175 related
    Filer's total
    $0 + $443,095 related

  • Teresa Fuller

    VP

    Total calculated
    $483,205
    From this org
    $0
    From related orgs
    $421,231
    Other
    $61,974
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $301,611 related
    Bonus
    $0 + $118,635 related
    Other
    $0 + $985 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $37,824 related
    Filer's total
    $0 + $483,205 related

  • Peter Mumma

    VP

    Total calculated
    $571,103
    From this org
    $534,820
    From related orgs
    $0
    Other
    $36,283
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $213,756
    Bonus
    $70,396
    Other
    $250,668
    Deferred
    $14,197
    Nontaxable benefits
    $22,086
    Filer's total
    $571,103

  • Deborah Lee

    VP

    Total calculated
    $400,185
    From this org
    $0
    From related orgs
    $330,301
    Other
    $69,884
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $239,632 related
    Bonus
    $0 + $86,986 related
    Other
    $0 + $3,683 related
    Deferred
    $0 + $22,955 related
    Nontaxable benefits
    $0 + $46,929 related
    Filer's total
    $0 + $400,185 related

  • Karen Kaiser

    VP

    Total calculated
    $323,214
    From this org
    $267,586
    From related orgs
    $0
    Other
    $55,628
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $207,122
    Bonus
    $58,467
    Other
    $1,997
    Deferred
    $18,458
    Nontaxable benefits
    $37,170
    Filer's total
    $323,214

  • Ryan O'Connell MD

    VP

    Total calculated
    $449,273
    From this org
    $0
    From related orgs
    $390,743
    Other
    $58,530
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $360,091 related
    Bonus
    $0 + $30,100 related
    Other
    $0 + $552 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $34,380 related
    Filer's total
    $0 + $449,273 related

  • Daniel Gottschall MD

    VP (Thru 12/24)

    Total calculated
    $712,540
    From this org
    $0
    From related orgs
    $637,037
    Other
    $75,503
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $476,940 related
    Bonus
    $0 + $155,277 related
    Other
    $0 + $4,820 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $51,353 related
    Filer's total
    $0 + $712,540 related

  • Elizabeth Maselli

    Dir Ops CT Orthopaedic Inst

    Total calculated
    $272,059
    From this org
    $253,661
    From related orgs
    $0
    Other
    $18,398
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $223,556
    Bonus
    $29,896
    Other
    $209
    Deferred
    $17,742
    Nontaxable benefits
    $656
    Filer's total
    $272,059

  • Irene Brown-Reid

    Registered Nurse

    Total calculated
    $315,871
    From this org
    $280,204
    From related orgs
    $0
    Other
    $35,667
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $267,566
    Bonus
    $11,978
    Other
    $660
    Deferred
    $20,034
    Nontaxable benefits
    $15,633
    Filer's total
    $315,871

  • Maureen Gethings

    Dir Perioperative Svcs

    Total calculated
    $298,224
    From this org
    $266,237
    From related orgs
    $0
    Other
    $31,987
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $234,806
    Bonus
    $30,935
    Other
    $496
    Deferred
    $18,910
    Nontaxable benefits
    $13,077
    Filer's total
    $298,224

  • Nicole Loiz

    Dir Clinical Operations

    Total calculated
    $276,164
    From this org
    $244,020
    From related orgs
    $0
    Other
    $32,144
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $214,383
    Bonus
    $29,331
    Other
    $306
    Deferred
    $17,481
    Nontaxable benefits
    $14,663
    Filer's total
    $276,164

  • David Lizak

    Coord Perfusionist

    Total calculated
    $246,559
    From this org
    $229,147
    From related orgs
    $0
    Other
    $17,412
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $227,135
    Bonus
    $600
    Other
    $1,412
    Deferred
    $15,994
    Nontaxable benefits
    $1,418
    Filer's total
    $246,559

  • Michael Daglio

    Former President

    Total calculated
    $1,865,685
    From this org
    $0
    From related orgs
    $1,836,321
    Other
    $29,364
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $279,156 related
    Bonus
    $0
    Other
    $0 + $1,557,165 related
    Deferred
    $0 + $14,144 related
    Nontaxable benefits
    $0 + $15,220 related
    Filer's total
    $0 + $1,865,685 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 — 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3
The Independent Executive Compensation Committee (Committee) of the Board of Directors of Hartford HealthCare on behalf of SVMC Holdings, Inc., hires an outside consultant, Human Resources and Compensation Consulting Practice of Gallagher, to determine best practices in governing executive compensation. Please refer to compensation narrative reported on Schedule O.
Part I, Lines 4a-b
In 2024, Michael Daglio (Former Officer) received a lump sum severance payment in the amount of $878,244. In 2024, Peter Mumma (Key Employee) received a lump sum severance payment in the amount of $248,750. Hartford Healthcare Corporation, a related organization, maintains a 457(f) Supplemental Executive Retirement Plan (SERP). Participants include certain officers and key employees at the President & CEO, Executive Vice President and Senior Vice President levels that are reported by SVMC Holdings, Inc. on its Form 990, Part VII. Contributions are made by Hartford HealthCare Corporation to the plan based on a percentage of the participant's compensation. Participants vest in contributions made before January 1, 2025, at the earlier of reaching age 55 and having 5 years of service, death, disability, involuntary separation without reasonable cause, upon reaching age 65 or the occurrence of a change in control. Participants vest in contributions made after January 1, 2025 at the earlier of having 5 years of service, death, disability, involuntary separation without reasonable cause, upon reaching age 65 or the occurrence of a change in control. Each participant ceases to be eligible for further contributions by Hartford Healthcare Corporation on the date of the participant's separation from service. Participants receive a one-time lump sum payment of the accumulated amount during the 30-day period following the participant's separation from service. 2024 SERP Accrual was made on behalf of the following individual: William Jennings $156,459 2024 SERP Payout was made on behalf of the following individual: Michael Daglio $675,428
Part I, Line 7
Hartford HealthCare Corporation, a related organization, has a Compensation At Risk Plan that encourages and rewards achievements of significant functional goals. These goals contribute to the organization's strategic and financial direction. The plan utilizes market practice alignment to ensure competitive recruitment and retention. Awards are based on CEO and/or Hartford HealthCare Corporation's Compensation Committee discretionary assessment of overall organization performance and individual contribution to results.

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

  • SouthWest Community Health Center Inc

    $691,699

    To provide comprehensive care for individuals and families in the Greater Bridgeport area, particularly targeting the uninsured, underinsured, and medically underserved, with a motto of "healthcare for all"

  • Connecticut Cancer Foundation Inc

    $100,000

    To provide financial assistance to Connecticut cancer patients and their families for basic living needs - such as rent, mortgage, utilities and food- while also funding cancer research.

  • Catholic Charities of Fairfield County

    $45,000

    To provide essential services- food, housing, mental health, and family support - to vulnerable individuals in Fairfield County.

  • Nourish Bridgeport Inc

    $22,500

    To mitigating food insecurity by providing fresh, nutritious food and essential resources. Its mission brings hope through direct service, supporting thousands of neighbors weekly through a "Super Food Pantry," baby center, hydroponic farm, and community programs

  • Lifebridge CommunityServices Inc

    $20,000

    To partner with individuals, youth, and families in the Greater Bridgeport and Fairfield area to improve well-being, strengthen resilience, and create a brighter future.

  • The Discovery Museum Inc

    $17,500

    To engage and inspire young learners through interactive exhibitsincluding a planetarium and Challenger Learning Centerto foster a lifetime love of science, technology, engineering, and mathematics (STEM).

  • St Vincent De Paul Place Norwich Inc

    $12,500

    To provide food, companionship, and advocacy to the physically, mentally, or spiritually impoverished without discrimination, aiming to foster independence, self-sufficiency, and improved life circumstances

  • Project Purple Inc

    $10,605

    To improve lives and support families through patient assistance programs, education, and community-driven events.

  • Faith CD Corporation

    $10,500

    To improve the quality of life for low-income residents including families, seniors, veterans and individuals with disabilities.

  • Sacred Heart University Inc

    $10,500

    To educate students in mind, body, and spirit, rooted in the Catholic intellectual tradition and liberal arts

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202612249349301211

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