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← RESEARCH FOR BETTER SCHOOLS INC

Form 990 for tax year 2023

Filed by RESEARCH FOR BETTER SCHOOLS INC.

Totals

Total revenue
$6,056,524
Total expenses
$7,356,406
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,945,014
Investment income
$1,039,044
Other revenue
$72,466
Total assets, end of year
$91,801,504
Total liabilities, end of year
$107,043,757
Net assets or fund balances, end of year
-$15,242,253
Program services expenses (Part IX)
$6,612,562
Management and general expenses
$743,844
Fundraising expenses
$0
Program service expenses (Part III)
$6,612,562

Program services were 89.9% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $4,945,014 · related or exempt $4,945,014

  • 3 · Investment income

    total $1,039,044 · excluded $1,039,044

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: CELL TOWER REVENUE

    total $72,466 · excluded $72,466

  • 11e · Other revenue, total

    $72,466

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $689,835 · management and general $689,835

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $30,222 · program services $30,222

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $491,486 · program services $491,486

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $492 · management and general $492

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $2,384,596 · program services $2,384,596

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $3,706,258 · program services $3,706,258

  • 23 · Insurance

    total $0

  • 24a · Other expenses: TAXES

    total $48,446 · management and general $48,446

  • 24b · Other expenses: MISC EXPENSES

    total $5,071 · management and general $5,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $41,414,579 · end of year $26,895,313

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,904,883 · end of year $743,575

  • 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 $195,180

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

    $59,958,219

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

    $4,257,600

  • 10c · Land, buildings and equipment, net

    beginning of year $9,250,282 · end of year $55,700,619

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 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 $34,638,786 · end of year $8,266,817

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,565,413 · end of year $3,957,631

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $17,996,663 · end of year $21,922,815

  • 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 $75,839,592 · end of year $81,163,311

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $749,233 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$13,942,371 · end of year -$15,242,253

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

PHMC WEST IS A CHARITABLE NONSTOCK MEMBERSHIP CORPORATION ORGANIZED TO UNDERTAKE ACTIVITIES RELATED TO PUBLIC HEALTH CAMPUS ON CEDAR AVENUE IN PHILADELPHIA, PENNSYLVANIA.

Activities or mission (Part I)

TO UNDERTAKE ACTIVITIES RELATED TO PUBLIC HEALTH CAMPUS ON CEDAR AVE IN PHILA, PA.

  • HMC WEST FORMERLY RESEARCH FOR BETTER SCHOOLS, INC. IS A CHARITABLE NONSTOCK MEMBERSHIP CORPORATION ORGANIZED TO UNDERTAKE ACTIVITIES RELATED TO PUBLIC HEALTH CAMPUS ON CEDAR AVENUE IN PHILADELPHIA, PENNSYLVANIA. THIS LOCATION IS AN INNOVATIVE PUBLIC HEALTH CAMPUS WHOSE MISSION IS TO PROVIDE COMMUNITY-INFORMED, INTEGRATED CARE AND SOCIAL SERVICES TO SUPPORT INDIVIDUALS AND FAMILIES. THE CAMPUS' SERVICES WILL INCLUDE PHMC HEALTH CENTER ON CEDAR, ONE OF SIX FEDERALLY QUALIFIED HEATH CENTERS PROVIDING SERVICES TO THE WEST AND SOUTHWEST PHILADELPHIA COMMUNITIES AS WELL AS AN EMERGENCY DEPARTMENT AND ONSITE INPATIENT AND BEHAVIORAL HEALTH SERVICES AVAILABLE THROUGH PENN MEDICINE. ADDITIONAL PROGRAMS AND SERVICES ARE PLANNED FROM PUBLIC HEALTH MANAGEMENT CORPORATION ("PHMC") AND OTHER PARTNERS IN THE FUTURE. PHMC, THE SOLE MEMBER OF PHMC WEST, WILL PROVIDE ALL THE PROGRAM SERVICES RELATED TO THE PHMC HEALTH CENTER ON CEDAR AND WILL LEASE A PORTION OF THE CAMPUS FROM PHMC WEST FOR USE IN PROVIDING THESE PROGRAM SERVICES. THE OTHER PROGRAMS WILL BE OPERATED AND LEASED BY OTHER NOT-FOR-PROFIT ORGANIZATIONS. AS OF JUNE 30, 2021, PENN MEDICINE IS THE ONLY TENANT.

    Expenses $6,612,562 · Revenue $4,945,014

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Cohen

    PRESIDENT & SECRETARY

    Total calculated
    $2,298,468
    From this org
    $0
    From related orgs
    $2,248,277
    Other
    $50,191
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,087,484 related
    Bonus
    $0 + $1,155,580 related
    Other
    $0 + $5,213 related
    Deferred
    $0 + $37,100 related
    Nontaxable benefits
    $0 + $13,091 related
    Filer's total
    $0 + $2,298,468 related

  • Robert Block

    TREASURER

    Total calculated
    $843,415
    From this org
    $0
    From related orgs
    $788,979
    Other
    $54,436
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $612,300 related
    Bonus
    $0 + $169,530 related
    Other
    $0 + $7,149 related
    Deferred
    $0 + $29,020 related
    Nontaxable benefits
    $0 + $25,416 related
    Filer's total
    $0 + $843,415 related

  • Michael Pearson

    chairperson

    Total calculated
    $380,893
    From this org
    $0
    From related orgs
    $380,893
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $379,157 related
    Bonus
    $0
    Other
    $0 + $1,736 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $380,893 related

  • Samuel Patterson

    Member

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • Kevin Dombrowski

    Member

    Total calculated
    $0
    Hours/week
    1

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
  • 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

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B:
Current Year Contributions: Richard Cohen - $152,988 (ATSSP) & $22,500 (457B) Robert Block - $58,500 (ATSSP) & $22,500 (457B) PAYMENTS WERE DETERMINED IN CONCERT WITH PHMC'S OVERALL PAY PRACTICE FOR SENIOR MANAGEMENT TO INCLUDE QUALIFIED PENSION PLAN AND SOCIAL SECURITY AMOUNTS WITH THE GOAL OF A 53% REPLACEMENT INCOME RATIO. THIS PLAN WAS APPROVED AT BOARD EXECUTIVE/COMPENSATION MEETINGS AND SUBSEQUENT BOARD OF DIRECTORS' MEETINGS.
PART I, LINE 5 and 6:
PHMC STAFF EVALUATIONS ARE BASED UPON A PERFORMANCE MANAGEMENT SYSTEM WHICH ESTABLISHES MILESTONES, OBJECTIVES, COMPETENCIES, AND RATES ACCORDINGLY. IN ADDITION, AN EXECUTIVE BONUS PLAN WAS APPROVED BY THE BOARD PERSONNEL COMMITTEE AND APPLIES TO PHMC MANAGING DIRECTORS AND ABOVE. THIS PLAN IS DESIGNED TOWARDS BOTH INDIVIDUAL AND OVERALL PERFORMANCE AND IS BASED UPON PERFORMANCE CRITERIA WHICH RECOGNIZE BOTH SPECIFIC PROGRAM/COMPONENT/AFFILIATE GOALS AND OVERALL PHMC FINANCIAL/ADMINISTRATIVE GOALS.

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

No itemized grants to organizations 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 corporations and trusts

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

  • PHMC 4601 INC

    c Corp · REAL ESTATE HOLDI · DE · 0% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by PHMC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202541339349306679

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