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Nonprofiteer
← OMC REGIONAL FOUNDATION

Form 990 for tax year 2022

Filed by OMC REGIONAL FOUNDATION.

Totals

Total revenue
$580,766
Total expenses
$266,523
Contributions and grants received
$410,148
Grants paid
$73,432
Program service revenue
$0
Investment income
$105,224
Other revenue
$65,394
Total assets, end of year
$5,187,654
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$5,187,654
Program services expenses (Part IX)
$256,415
Management and general expenses
$10,108
Fundraising expenses
$0
Program service expenses (Part III)
$256,415

Program services were 96.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • TIM WEIR FACHE

    DIRECTOR & OMC CEO

    Total calculated
    $905,792
    From this org
    $0
    From related orgs
    $860,633
    Other
    $45,159
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $699,187 related
    Bonus
    $0 + $161,446 related
    Other
    $0
    Deferred
    $0 + $27,550 related
    Nontaxable benefits
    $0 + $17,609 related
    Filer's total
    $0 + $905,792 related

  • JAMES HOFFMANN MD

    DIRECTOR & OMC PRESIDENT

    Total calculated
    $631,314
    From this org
    $0
    From related orgs
    $585,303
    Other
    $46,011
    Hours/week
    1 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $503,580 related
    Bonus
    $0 + $80,723 related
    Other
    $0 + $1,000 related
    Deferred
    $0 + $27,550 related
    Nontaxable benefits
    $0 + $18,461 related
    Filer's total
    $0 + $631,314 related

  • CORENIA WALZ

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JEANINE GANGENESS PHD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • PAUL TIESKOTTER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • LILIA PONTON MD

    SECRETARY

    Total calculated
    $295,781
    From this org
    $0
    From related orgs
    $266,133
    Other
    $29,648
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,133 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $27,550 related
    Nontaxable benefits
    $0 + $2,098 related
    Filer's total
    $0 + $295,781 related

  • CASSIE HARRINGTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • DAVID OETH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DHARANI RAMAMOORTHY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MITCH STEVENSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DON SUPALLA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KEVIN HIGGINS

    OMC CFO

    Total calculated
    $586,508
    From this org
    $0
    From related orgs
    $525,381
    Other
    $61,127
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $428,970 related
    Bonus
    $0 + $79,680 related
    Other
    $0 + $16,731 related
    Deferred
    $0 + $27,550 related
    Nontaxable benefits
    $0 + $33,577 related
    Filer's total
    $0 + $586,508 related

  • STACEY VANDEN HEUVEL

    VP MARKETING & PHILANTHROP

    Total calculated
    $253,079
    From this org
    $0
    From related orgs
    $230,448
    Other
    $22,631
    Hours/week
    24 + 16 related

    Schedule J breakdown matched by us

    Base
    $0 + $195,120 related
    Bonus
    $0 + $35,328 related
    Other
    $0
    Deferred
    $0 + $20,829 related
    Nontaxable benefits
    $0 + $1,802 related
    Filer's total
    $0 + $253,079 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
THE COMPENSATION FOR THE PRESIDENT AND CEO WAS ESTABLISHED AND PAID BY OLMSTED MEDICAL CENTER, THE SOLE MEMBER OF THE FOUNDATION. THE FOLLOWING METHODS WERE RELIED UPON BY OLMSTED MEDICAL CENTER TO DETERMINE SUCH COMPENSATION: 1. COMPENSATION COMMITTEE, 2. INDEPENDENT COMPENSATION CONSULTANT, 3. COMPENSATION SURVEY OR STUDY, AND 4. APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. IN ORDER TO ENSURE THAT ALL OLMSTED MEDICAL CENTER (OMC) EXECUTIVE COMPENSATION DECISIONS ARE COMPETITIVE, EQUITABLE, UNIFORMLY ADMINISTERED, AND CONSISTENT WITH MARKET PRACTICES, OMC FOLLOWS RECOMMENDED BEST PRACTICES. THE GOALS OF EXECUTIVE COMPENSATION ARE TO ATTRACT AND RETAIN HIGHLY QUALIFIED PERSONNEL, TO MAINTAIN COMPENSATION LEVELS COMMENSURATE WITH THE SCOPE OF RESPONSIBILITIES FOR EACH POSITION, AND TO REWARD OUTSTANDING PERFORMANCE. OMC WILL SEEK MANAGEMENT TALENT BY CONDUCTING NATIONAL SEARCHES FOR QUALIFIED APPLICANTS FOR ANY VACANCIES AT THE CHIEF MEDICAL OFFICER AND CEO POSITIONS IN ADDITION TO VICE PRESIDENT POSITIONS AS NECESSARY. THE SAME PHILOSOPHY IS APPLICABLE TO THE POSITION OF OMC PRESIDENT. OMC ENGAGES AN EXTERNAL CONSULTANT WHO ANNUALLY COMPILES A PEER GROUP COMPENSATION ANALYSIS AND ON A TWO YEAR BASIS COMPILES A PEER GROUP COMPENSATION AND BENEFITS ANALYSIS. PEER GROUPS FOR EXECUTIVE COMPENSATION, WHICH INCLUDES BASE SALARIES, INCENTIVE AND BENEFITS, WILL BE PROVIDED FOR HEALTH DELIVERY SYSTEMS WITH A MINIMUM OF A HOSPITAL AND AN EMPLOYED PHYSICIAN NETWORK AND NET REVENUES ROUGHLY SIMILAR TO THE REVENUES OF OLMSTED MEDICAL CENTER. MOST RECENTLY A COMPENSATION PEER REVIEW STUDY WAS COMPLETED FOR THE CEO, PRESIDENT, CHIEF MEDICAL OFFICER, AND VICE PRESIDENTS AND PRESENTED TO THE BOARD EXECUTIVE COMPENSATION COMMITTEE. THE EXECUTIVE COMPENSATION COMMITTEE RECEIVES A SUMMARY OF EVERYONE'S COMPENSATION TO ENSURE IT IS IN ALIGNMENT WITH THE SAME COMPENSATION METHODOLOGY AND AGREED UPON METHODOLOGY OF THE EXECUTIVE COMPENSATION SYSTEM OF OMC. THESE POSITIONS INCLUDE THE CHIEF MEDICAL OFFICER AND VICE PRESIDENTS OF OMC. THE EXECUTIVE COMPENSATION COMMITTEE WILL SET THE COMPENSATION OF THE PRESIDENT, AND CEO, AND MINUTES ARE KEPT OF THESE DISCUSSIONS. THE BOARD OF TRUSTEES, ACTING THROUGH THE BOARD OF TRUSTEES COMPENSATION COMMITTEE, MUST APPROVE THE EXECUTIVE COMPENSATION POLICY AND PROCESS OF DETERMINING EXECUTIVE COMPENSATION. IN ADDITION, THE PHYSICIAN SALARIES ARE CALCULATED ANNUALLY, USING NATIONAL PHYSICIAN SALARY COMPARISON GUIDES FACTORING IN PRODUCTIVITY AND QUALITY MEASURES, AND REVIEWED ON AN ANNUAL BASIS FOR MARKET REASONABLENESS BY AN INDEPENDANT CONSULTING FIRM. THE PHYSICIANS RECEIVE NO COMPENSATION AS ATTENDING BOARD MEMBERS. THESE DISCUSSIONS ARE NOTED IN THE MINUTES OF THE BOARD OF TRUSTEES COMPENSATION COMMITTEE ANNUAL MEETING. THE BOARD OF TRUSTEES COMPENSATION COMMITTEE REPORTS TO THE FULL BOARD OF TRUSTEES ON AN ANNUAL BASIS THE COMPLETION OF SUCH DUTIES AND ARE ALSO NOTED IN THE MINUTES.
PART I, LINE 4B
THE RELATED ORGANIZATION, OLMSTED MEDICAL CENTER, HAS A SUPPLEMENTAL, NON-QUALIFIED RETIREMENT PLAN FOR CERTAIN INDIVIDUALS IN LEADERSHIP POSITIONS. IN 2022 THE FOLLOWING INDIVIDUALS BECAME ELIGIBLE TO BE VESTED IN 2026. THEIR VESTED BALANCES WILL BE TAXABLE IN 2026 WITH THE NET AMOUNT RETURNED TO THEIR 401K ACCOUNTS. THE FOLLOWING AMOUNTS WERE EARNED IN 2022 - TIM WEIR $88,750 JAMES HOFFMANN $44,375 KEVIN HIGGINS $30,450 STACEY VANDEN HEUVEL $4,825

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 July 2023
IRS schema version
2022v5.0
Source object
202302229349302270

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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