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Nonprofiteer
← HARTFORD HEALTHCARE ENDOWMENT LLC

Form 990 for tax year 2024

Filed by HARTFORD HEALTHCARE ENDOWMENT LLC.

Totals

Total revenue
$80,256,351
Total expenses
$13,072,818
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$80,256,351
Other revenue
$0
Total assets, end of year
$2,367,857,000
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,367,857,000
Program services expenses (Part IX)
$13,072,818
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$13,072,818

Program services were 100.0% 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.

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $61,479,024 · unrelated business -$920,527 · excluded $62,399,551

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $18,777,327

  • 7c · Gain or loss

    securities $18,777,327 · other assets $0

  • 7d · Net gain or loss

    total $18,777,327 · excluded $18,777,327

  • 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.

  • 11f · Fees: investment management

    total $11,455,000 · program services $11,455,000

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: FEDERAL INCOME TAX

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

  • 24b · Other expenses: STATE INCOME TAX

    total $400,000 · program services $400,000

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $167,133 · program services $167,133

  • 24d · Other expenses: PURCHASED SERVICES

    total $50,685 · program services $50,685

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 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 $1,992,525,000 · end of year $2,130,188,000

  • 12 · Investments: other securities

    beginning of year $215,169,000 · end of year $237,669,000

  • 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 $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,753,046,000 · end of year $1,875,637,000

  • 28 · Net assets with donor restrictions

    beginning of year $454,648,000 · end of year $492,220,000

Mission and programs · 2024

Mission

NONE

Activities or mission (Part I)

THE FOUNDATION IS ORGANIZED AND OPERATED TO HOLD AND INVEST THE ENDOWMENT FUNDS EXCLUSIVELY FOR CERTAIN CHARITABLE HEALTH CARE ORGANIZATIONS (CONTINUED ON SCHEDULE O)

  • THE FOUNDATION'S SOLE ACTIVITY CONSISTS OF HOLDING POOLED ENDOWMENT FUNDS OF CERTAIN TAX EXEMPT AFFILIATES OF HARTFORD HEALTHCARE CORPORATION (HHC) AND INVESTING SUCH POOLED FUNDS. MORE SPECIFICALLY, THE FOUNDATION'S ACTIVITIES SUPPORTING THESE TAX EXEMPT AFFILIATES CONSISTS OF (A) INVESTING AND MANAGING THE TAX EXEMPT AFFILIATES' ENDOWMENT FUNDS; (B) DISTRIBUTING INCOME EARNED FROM THE ENDOWMENT FUNDS TO THE TAX EXEMPT AFFILIATES; AND (C) POTENTIALLY HOLDING AND MANAGING OTHER ASSETS OWNED BY THE TAX EXEMPT AFFILIATES. THE FOUNDATION DOES NOT RAISE, MANAGE OR INVEST ON BEHALF OF ANY ENTITY OTHER THAN THESE HHC TAX EXEMPT AFFILIATES.

    Expenses $13,072,818

As filed on the 2024 return.

Listed in Part VII

  • Bimal Patel

    DIRECTOR

    Total calculated
    $1,693,030
    From this org
    $0
    From related orgs
    $1,617,571
    Other
    $75,459
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $911,697 related
    Bonus
    $0 + $499,149 related
    Other
    $0 + $206,725 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $51,309 related
    Filer's total
    $0 + $1,693,030 related

  • Chibueze Agba

    DIRECTOR

    Total calculated
    $2,052,960
    From this org
    $0
    From related orgs
    $1,732,247
    Other
    $320,713
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,068,418 related
    Bonus
    $0 + $646,405 related
    Other
    $0 + $17,424 related
    Deferred
    $0 + $261,954 related
    Nontaxable benefits
    $0 + $58,759 related
    Filer's total
    $0 + $2,052,960 related

  • Donna Handley

    DIRECTOR

    Total calculated
    $1,055,572
    From this org
    $0
    From related orgs
    $977,558
    Other
    $78,014
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $563,894 related
    Bonus
    $0 + $292,196 related
    Other
    $0 + $121,468 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $53,864 related
    Filer's total
    $0 + $1,055,572 related

  • Eric Smullen

    DIRECTOR

    Total calculated
    $675,585
    From this org
    $0
    From related orgs
    $602,209
    Other
    $73,376
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,842 related
    Bonus
    $0 + $185,393 related
    Other
    $0 + $66,974 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $49,226 related
    Filer's total
    $0 + $675,585 related

  • Gina Coleman

    DIRECTOR

    Total calculated
    $322,597
    From this org
    $0
    From related orgs
    $282,246
    Other
    $40,351
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $206,480 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $766 related
    Deferred
    $0 + $30,845 related
    Nontaxable benefits
    $0 + $9,506 related
    Filer's total
    $0 + $322,597 related

  • James O'Dea

    DIRECTOR

    Total calculated
    $677,698
    From this org
    $0
    From related orgs
    $607,542
    Other
    $70,156
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $354,253 related
    Bonus
    $0 + $183,854 related
    Other
    $0 + $69,435 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $46,006 related
    Filer's total
    $0 + $677,698 related

  • Jeffrey Finkelstein

    DIRECTOR

    Total calculated
    $791,085
    From this org
    $0
    From related orgs
    $715,448
    Other
    $75,637
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $530,459 related
    Bonus
    $0 + $177,908 related
    Other
    $0 + $7,081 related
    Deferred
    $0 + $24,150 related
    Nontaxable benefits
    $0 + $51,487 related
    Filer's total
    $0 + $791,085 related

  • William Jennings

    DIRECTOR

    Total calculated
    $1,728,141
    From this org
    $0
    From related orgs
    $1,507,121
    Other
    $221,020
    Hours/week
    1 + 59 related

    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

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
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3 ARRANGEMENT USED TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION
THE INDEPENDENT EXECUTIVE COMPENSATION COMMITTEE (COMMITTEE) OF THE BOARD OF DIRECTORS OF HARTFORD HEALTHCARE ON BEHALF OF HARTFORD HEALTHCARE ENDOWMENT LLC 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.
SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
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 HARTFORD HEALTHCARE ENDOWMENT LLC 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 THE PLAN 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. 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 ONETIME LUMP SUM PAYMENT OF THE ACCUMULATED AMOUNT DURING THE 30DAY PERIOD FOLLOWING THE PARTICIPANT'S SEPARATION FROM SERVICE. 2024 SERP ACCRUALS WERE MADE ON BEHALF OF THE FOLLOWING INDIVIDUALS: CHIBUEZE AGBA $237,804 WILLIAM JENNINGS $156,459 GINA COLEMAN $23,365 2024 SERP PAYOUTS WERE MADE ON BEHALF OF THE FOLLOWING INDIVIDUALS: BIMAL PATEL $90,405 ERIC SMULLEN $26,790 JAMES O'DEA $25,955 DONNA HANDLEY $41,998 *FOR THESE INDIVIDUALS, VESTING OCCURRED, CAUSING TAXABLE INCOME. THIS PORTION OF THE VESTED AMOUNT WAS USED TO PAY THE ASSOCIATED TAX LIABILITY. THE REMAINING BALANCE WAS DEPOSITED INTO THE EMPLOYEE SERP ACCOUNT.
SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS
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

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ADVANCED MEDICAL IMAGING OF NW CT LLC

    N/A · MAGNETIC RESONANCE IMAGING · CT

    Directly controlled by NA

  • AMBULANCE SERVICE OF MANCHESTER LLC

    N/A · AMBULATORY SERVICE · CT

    Directly controlled by NA

  • CENTRAL CONNECTICUT ENDOSCOPY CENTER

    N/A · ENDOSCOPY SVCS · CT

    Directly controlled by NA

  • CONNECTICUT IMAGING PARTNERS LLC JEFFERSON RADIOLOGY

    N/A · IMAGING SERVICES · CT

    Directly controlled by NA

  • CONNECTICUT ORTHOPAEDIC SURGERY CENTER LLC

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • CONNECTICUT PROTON THERAPY CENTER LLC

    N/A · PROTON THERAPY SERVICES · CT

    Directly controlled by NA

  • CONSTITUTION SURGERY CENTER EAST LLC

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • CT GI ENDOSCOPY CENTER LLC (BLOOMFIELD)

    N/A · GI SERVICES · CT

    Directly controlled by NA

  • GLASTONBURY ENDOSCOPY CENTER LLC

    N/A · ENDOSCOPY SVCS · CT

    Directly controlled by NA

  • GLASTONBURY SURGERY CENTER

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • HARTFORDMIDDLESEX CLINICAL SYSTEM LLC

    N/A · AFFILIATE SUPPORT SERVICES · CT

    Directly controlled by NA

  • HHC HARTFORD SURGERY CENTER LLC

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • HHC SOUTHINGTON SURGERY CENTER LLC

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • HARTFORD HEALTHCAREGOHEALTH URGENT CARE LLC

    N/A · URGENT CARE SERVICES · DE

    Directly controlled by NA

  • NEW BRITAIN MRI LIMITED PARTNERSHIP

    N/A · MAGNETIC RESONANCE IMAGING · CT

    Directly controlled by NA

  • ROCKY HILL SURGERY CENTER LLC

    N/A · SURGERY SVCS · CT

    Directly controlled by NA

  • THE ENDOSCOPY CENTER OF NORTHWEST CONNECTICUT LLC

    N/A · ENDOSCOPY SVCS · CT

    Directly controlled by NA

  • WALLINGFORD ENDOSCOPY CENTER LLC

    N/A · ENDOSCOPY SVCS · CT

    Directly controlled by NA

  • VIRTUAL SERVICE LINE MSO LLC

    N/A · VIRTUAL PRIMARY CARE SERVICES · DE

    Directly controlled by NA

Related corporations and trusts

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

  • AETNA AMBULANCE SERVICE INC

    C CORPORATION · AMBULANCE SERVICES · CT · controlled entity

    Directly controlled by NA

  • AMERICAN AMBULANCE SERVICES INC

    S CORPORATION · AMBULANCE SERVICES · CT · controlled entity

    Directly controlled by NA

  • AMERICAN PROFESSIONAL EDUCATIONAL SERVICES INC

    S CORPORATION · EDUCATIONAL SERVICES · CT · controlled entity

    Directly controlled by NA

  • BACKUS MEDICAL CENTER CONDO ASSOC INC

    C CORPORATION · CONDO ASSOCIATION · CT · controlled entity

    Directly controlled by NA

  • CENCONN SERVICES INC

    C CORPORATION · BILLING SERVICES · CT · controlled entity

    Directly controlled by NA

  • CONNCARE INC

    C CORPORATION · HEALTH CARE SERVICES · CT · controlled entity

    Directly controlled by NA

  • HHMOB CORPORATION

    C CORPORATION · REAL ESTATE & PARKING · CT · controlled entity

    Directly controlled by NA

  • HARTFORD HEALTHCARE INDEMNITY SERVICES LTD

    C CORPORATION · CAPTIVE INSURANCE · BD · controlled entity

    Directly controlled by NA

  • HUNTER'S AMBULANCE SERVICE INC

    S CORPORATION · AMBULANCE SERVICES · CT · controlled entity

    Directly controlled by NA

  • MERIDEN IMAGING CENTER INC

    S CORPORATION · IMAGING · CT · controlled entity

    Directly controlled by NA

  • METRO WHEELCHAIR SERVICE INC

    C CORPORATION · WHEELCHAIR SERVICES · CT · controlled entity

    Directly controlled by NA

  • THE CANCER CARE FUND OF THE LITCHFIELD HILLS INC

    C CORPORATION · CANCER CARE FUND · CT · controlled entity

    Directly controlled by NA

  • WINDHAM PROFESSIONAL OFFICE CONDO ASSOC

    C CORPORATION · CONDO ASSOCIATION · CT · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2026
IRS schema version
2024v5.1
Source object
202632239349301838

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