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← 11TH STREET FAMILY HEALTH SERVICES INC

Form 990 for tax year 2022

Filed by 11TH STREET FAMILY HEALTH SERVICES INC.

Totals

Total revenue
$3,585
Total expenses
$502,688
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$3,585
Other revenue
$0
Total assets, end of year
$8,437,599
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$8,437,599
Program services expenses (Part IX)
$500,688
Management and general expenses
$2,000
Fundraising expenses
$0
Program service expenses (Part III)
$500,688

Program services were 99.6% 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.

  • 3 · Investment income

    total $3,585 · excluded $3,585

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,000 · management and general $2,000

  • 22 · Depreciation, depletion and amortization

    total $500,688 · program services $500,688

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $418,129 · end of year $419,714

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

    $11,927,509

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

    $3,909,624

  • 10c · Land, buildings and equipment, net

    beginning of year $8,518,573 · end of year $8,017,885

  • 27 · Net assets without donor restrictions

    beginning of year $8,936,702 · end of year $8,437,599

Mission and programs · 2022

Mission

THE ORGANIZATION PROVIDES FACILITIES FOR USE BY DREXEL UNIVERSITY AND FOR THE PATIENTS WHO ARE MEMBERS OF THE CHARITABLE CLASS SERVED BY DREXEL UNIVERSITY.

Activities or mission (Part I)

REAL ESTATE HOLDING COMPANY SUPPORTING DREXEL UNIVERSITY.

  • THE ORGANIZATION PROVIDES FACILITIES FOR USE BY DREXEL UNIVERSITY AND FOR THE PATIENTS WHO ARE MEMBERS OF THE CHARITABLE CLASS SERVED BY DREXEL UNIVERSITY.

    Expenses $500,688

As filed on the 2022 return.

Listed in Part VII

  • JOHN A FRY

    PRESIDENT & CHAIRMAN

    Total calculated
    $2,234,754
    From this org
    $0
    From related orgs
    $2,077,353
    Other
    $157,401
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $886,109 related
    Bonus
    $0 + $360,000 related
    Other
    $0 + $831,244 related
    Deferred
    $0 + $142,203 related
    Nontaxable benefits
    $0 + $15,198 related
    Filer's total
    $0 + $2,234,754 related

  • HELEN Y BOWMAN

    VICE PRESIDENT & TREASURER

    Total calculated
    $1,018,340
    From this org
    $0
    From related orgs
    $966,123
    Other
    $52,217
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $677,002 related
    Bonus
    $0 + $136,578 related
    Other
    $0 + $152,543 related
    Deferred
    $0 + $33,550 related
    Nontaxable benefits
    $0 + $18,667 related
    Filer's total
    $0 + $1,018,340 related

  • MICHAEL J EXLER

    DIRECTOR

    Total calculated
    $696,849
    From this org
    $0
    From related orgs
    $594,632
    Other
    $102,217
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $494,632 related
    Bonus
    $0 + $100,000 related
    Other
    $0
    Deferred
    $0 + $83,550 related
    Nontaxable benefits
    $0 + $18,667 related
    Filer's total
    $0 + $696,849 related

  • ALAN GREENBERGER

    VICE PRESIDENT

    Total calculated
    $355,339
    From this org
    $0
    From related orgs
    $311,844
    Other
    $43,495
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,844 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $33,550 related
    Nontaxable benefits
    $0 + $9,945 related
    Filer's total
    $0 + $355,339 related

  • REBECCA LACHER

    SECRETARY

    Total calculated
    $199,320
    From this org
    $0
    From related orgs
    $166,548
    Other
    $32,772
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,548 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,698 related
    Nontaxable benefits
    $0 + $17,074 related
    Filer's total
    $0 + $199,320 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 4B
DREXEL UNIVERSITY, A RELATED ORGANIZATION, PAID MR. FRY'S DEFERRED COMPENSATION OF $338,622, WHICH BEGAN EFFECTIVE JULY 31, 2021. MR. FRY HAD BEEN CREDITED $25,000 PER MONTH, BEGINNING JANUARY 31, 2022, AND ENDING DECEMBER 31, 2022, PROVIDED MR. FRY IS EMPLOYED BY THE UNIVERSITY ON THE LAST DAY OF THE MONTH. IN ADDITION, THE DEFERRED COMPENSATION WAS CREDITED WITH INTEREST EARNED MONTHLY. MR. FRY WAS VESTED IN THE MONTHLY CREDITS AND EARNINGS IN THE DEFERRED COMPENSATION ARRANGEMENT FROM JANUARY 31, 2022, THROUGH DECEMBER 31, 2022. DREXEL UNIVERSITY, A RELATED ORGANIZATION, PAID MS. BOWMAN DEFERRED COMPENSATION OF $152,543, WHICH BEGAN EFFECTIVE SEPTEMBER 1, 2021. MS. BOWMAN HAD BEEN CREDITED $75,000 ON EACH SEPTEMBER 1, BEGINNING ON SEPTEMBER 1, 2021, AND ENDING ON SEPTEMBER 1, 2022. IN ADDITION, THE DEFERRED COMPENSATION WAS CREDITED WITH INTEREST EARNED ANNUALLY. ON SEPTEMBER 1, 2022, MS. BOWMAN BECAME FULLY VESTED IN THE DEFERRED COMPENSATION ARRANGEMENT. DREXEL UNIVERSITY, A RELATED ORGANIZATION, PROVIDES MR. FRY WITH A SUPPLEMENTAL RETIREMENT BENEFIT PLAN, AMENDED AND RESTATED EFFECTIVE APRIL 1, 2022, WHICH APPLIES TO CONTRIBUTION CREDITS COMMENCING FOR THE FISCAL YEARS ENDING ON JUNE 30, 2021, THROUGH JUNE 30, 2028. THE ALLOCATION FOR EACH FISCAL YEAR SHALL BE CONDITIONED ON MR. FRY'S CONTINUED EMPLOYMENT THROUGH THE END OF THE FISCAL YEAR (OR UPON THE DATE OF DEATH, TOTAL DISABILITY, OR INVOLUNTARY TERMINATION, IF EARLIER). THE ANNUAL ALLOCATION AMOUNT IS EQUAL TO 11% OF THE SUM OF MR. FRY'S BASE SALARY AND ANNUAL PERFORMANCE BONUS (IF ANY) FOR SUCH FISCAL YEAR THAT IS IN EXCESS OF THE COMPENSATION LIMIT UNDER SECTION 401(A)(17) OF THE INTERNAL REVENUE CODE.
PART II
DREXEL UNIVERSITY, A RELATED ORGANIZATION, PROVIDES JOHN FRY AND MICHAEL EXLER WITH DEFERRED COMPENSATION ARRANGEMENTS. THE UNIVERSITY WILL CREDIT MR. FRY WITH $25,000 ON JANUARY 31, 2022, AND ON EACH FOLLOWING MONTH THROUGH JUNE 30, 2023, WHILE HE REMAINS EMPLOYED BY THE UNIVERSITY AS PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE DEFERRED COMPENSATION CREDITED, AND INTEREST EARNED IS VESTED MONTHLY, PROVIDED THAT MR. FRY IS EMPLOYED BY THE UNIVERSITY ON THE LAST DAY OF EACH MONTH. THE UNIVERSITY WILL CREDIT MR. EXLER WITH $50,000 EACH JULY 1, BEGINNING WITH JULY 1, 2021, AND ENDING JULY 1, 2024, IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MR. EXLER WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2024, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. EXLER RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202441359349310664

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