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Nonprofiteer
← HEALTH VENTURES

Form 990 for tax year 2022

Filed by HEALTH VENTURES.

Totals

Total revenue
$11,800,224
Total expenses
$10,062,982
Contributions and grants received
$0
Grants paid
$10,000,000
Program service revenue
$11,800,224
Investment income
$0
Other revenue
$0
Total assets, end of year
$42,789,726
Total liabilities, end of year
$268,952
Net assets or fund balances, end of year
$42,520,774
Program services expenses (Part IX)
$10,000,000
Management and general expenses
$62,982
Fundraising expenses
$0
Program service expenses (Part III)
$10,000,000

Program services were 99.4% 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: THE OREGON CANCER CENTERS, LTD

    total $4,284,362 · related or exempt $4,284,362

  • 2b · Program service revenue: SW WASHINGTON REGIONAL SURGERY CE

    total $3,921,111 · related or exempt $3,921,111

  • 2c · Program service revenue: OREGON IMAGING CENTERS

    total $2,905,113 · related or exempt $2,905,113

  • 2d · Program service revenue: FRESENIUS KIDNEY CARE LONGVIEW

    total $538,191 · related or exempt $538,191

  • 2e · Program service revenue: MOUNT BAKER IMAGING, LLC

    total $441,575 · related or exempt $441,575

  • 2f · All other program service revenue

    total -$290,128 · related or exempt -$290,128

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000,000 · program services $10,000,000

  • 22 · Depreciation, depletion and amortization

    total $294,919 · management and general $294,919

  • 24a · Other expenses: BANK FEES

    total $446 · management and general $446

  • 24b · Other expenses: MISCELLANEOUS

    total -$232,383 · management and general -$232,383

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,900,740 · end of year $13,486,296

  • 13 · Investments: program-related

    beginning of year $30,027,154 · end of year $27,755,101

  • 14 · Intangible assets

    beginning of year $1,843,249 · end of year $1,548,329

  • 17 · Accounts payable and accrued expenses

    beginning of year $213,952 · end of year $268,952

  • 27 · Net assets without donor restrictions

    beginning of year $39,557,191 · end of year $42,520,774

Mission and programs · 2022

Mission

HEALTH VENTURES IS OPERATED PRIMARILY FOR THE BENEFIT AND PURPOSES OF PEACEHEALTH, A 501(C)(3) ORGANIZATION, WHICH HAS BEEN FORMALLY RECOGNIZED AS A PONTIFICAL PRIVATE JURIDIC PERSON ENGAGED IN THE APOSTOLIC WORK OF THE ROMAN CATHOLIC CHURCH.

Activities or mission (Part I)

HEALTH VENTURES IS OPERATED PRIMARILY FOR THE BENEFIT AND PURPOSES OF PEACEHEALTH.

  • SUPPORT TO PEACEHEALTH, A WASHINGTON NON-PROFIT CORPORATION, WHICH IS EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE,WHICH OPERATES A HEALTHCARE SYSTEM IN WASHINGTON, OREGON AND ALASKA. THE PURPOSE OF HEALTH VENTURES IS TO OPERATE FOR THE BENEFIT OF PEACEHEALTH. DURING THE TAX YEAR 2022, HEALTH VENTURES TRANSFERRED $10,000,000 TO PEACEHEALTH THROUGH A FUND BALANCE TRANSFER.

    Expenses $10,000,000 · Grants $10,000,000 · Revenue $11,800,224

As filed on the 2022 return.

Listed in Part VII

  • Michael P Dwyer

    DIRECTOR/PRESIDENT & CEO

    Total calculated
    $1,118,712
    From this org
    $0
    From related orgs
    $1,042,336
    Other
    $76,376
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $626,918 related
    Bonus
    $0 + $399,616 related
    Other
    $0 + $15,802 related
    Deferred
    $0 + $62,231 related
    Nontaxable benefits
    $0 + $14,145 related
    Filer's total
    $0 + $1,118,712 related

  • Darrin Montalvo

    DIR/VICE PRESIDENT/TREASURER

    Total calculated
    $1,754,852
    From this org
    $0
    From related orgs
    $1,531,560
    Other
    $223,292
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $931,496 related
    Bonus
    $0 + $593,761 related
    Other
    $0 + $6,303 related
    Deferred
    $0 + $193,339 related
    Nontaxable benefits
    $0 + $29,953 related
    Filer's total
    $0 + $1,754,852 related

  • Richard Decarlo

    DIRECTOR

    Total calculated
    $1,805,415
    From this org
    $0
    From related orgs
    $1,668,539
    Other
    $136,876
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,012,082 related
    Bonus
    $0 + $645,129 related
    Other
    $0 + $11,328 related
    Deferred
    $0 + $112,772 related
    Nontaxable benefits
    $0 + $24,104 related
    Filer's total
    $0 + $1,805,415 related

  • Karl Carrier

    BOD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Scott Foster

    CHIEF MED EXEC/SVC LINES PHMG

    Total calculated
    $642,019
    From this org
    $0
    From related orgs
    $644,231
    Other
    -$2,212
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $529,541 related
    Bonus
    $0 + $114,690 related
    Other
    $0
    Deferred
    $0 + -$40,996 related
    Nontaxable benefits
    $0 + $38,784 related
    Filer's total
    $0 + $642,019 related

  • Thomas Karnes

    SECRETARY

    Total calculated
    $285,481
    From this org
    $0
    From related orgs
    $250,925
    Other
    $34,556
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,206 related
    Bonus
    $0 + $33,719 related
    Other
    $0
    Deferred
    $0 + $3,757 related
    Nontaxable benefits
    $0 + $30,799 related
    Filer's total
    $0 + $285,481 related

  • John C Bennett

    FORMER CHIEF EXECUTIVE AMBULATORY

    Total calculated
    $216,348
    From this org
    $0
    From related orgs
    $216,348
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $216,348 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $216,348 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
PEACEHEALTH (EIN: 91-0939479) IS THE SOLE MEMBER OF HEALTH VENTURES. THE CEO OF HEALTH VENTURES IS COMPENSATED BY PEACEHEALTH AND PERFORMS DUTIES FOR PEACEHEALTH BEYOND SERVING AS THE CEO OF HEALTH VENTURES. PEACEHEALTH ESTABLISHES COMPENSATION FOR THE HEALTH VENTURES CEO USING: 1) INDEPENDENT COMPENSATION CONSULTANT 2) COMPENSATION SURVEY OR STUDY 3) APPROVAL BY THE BOARD
PART I, LINES 4A-B
PEACEHEALTH (EIN: 91-0939479) IS THE SOLE MEMBER OF HEALTH VENTURES. HEALTH VENTURES HAS NO EMPLOYEES, BUT PEACEHEALTH PROVIDES PERSONNEL SERVICES FOR HEALTH VENTURES. ALL EMPLOYEES, OFFICERS, AND DIRECTORS THAT SPEND TIME ON HEALTH VENTURES OPERATIONS ARE EMPLOYED BY PEACEHEALTH. THE COMPENSATION POLICIES OF PEACEHEALTH ARE DISCLOSED BELOW. PEACEHEALTH'S CHIEF EXECUTIVE OFFICER, EXECUTIVE VICE PRESIDENTS, SENIOR VICE PRESIDENTS, CERTAIN PHYSICIANS, AND OTHER HIGHLY COMPENSATED EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN VARIOUS NONQUALIFIED RETIREMENT PLANS. CONTRIBUTIONS TO THESE PLANS AND RELATED INVESTMENT RETURNS ARE DISCLOSED ON SCHEDULE J AS DEFERRED COMPENSATION AND AS BONUS COMPENSATION WHEN PAID TO THE INDIVIDUAL. THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS IN CALENDAR YEAR 2022: JOHN C. BENNETT: $216,348 THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2022 (DEFERRED/PAID): MICHAEL P. DWYER: $25,411/$0 DARRIN MONTALVO: $187,239/$0 RICHARD DECARLO: $76,331/$0 SCOTT FOSTER: ($71,716)/$0

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.

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.

  • RB AMBULATORY SURGERY CENTER

    RELATED · MEDICAL · OR · 51.83% owned · share of income $1,100,447 · share of assets $4,220,495 · general or managing partner

    Directly controlled by HEALTH VENTURES

  • ARDON HEALTH

    PHARMACY · DE

Related corporations and trusts

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

  • CLARE REASSURANCE

    C · REINSURANCE · CJ

  • LOWER COLUMBIA REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • OREGON REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • PEACEHEALTH AMBULATORY LLC

    C · MEDICAL · WA

  • PEACEHEALTH CLINICALLY INTEGRATED NETWORK

    C · MEDICAL · WA

  • PEACEHEALTH DIRECT CONTRACTING LLC

    C · MEDICAL · WA

  • PEACEHEALTH NETWORKS ON DEMAND LLC

    C · MEDICAL CLINICS · WA

  • POOLED INCOME FUND OF PEACEHEALTH #1

    T · POOLED INC FUND · WA

  • SIUSLAW REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • SOUTHWEST REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

  • WHATCOM REGION POOLED INCOME FUND

    T · POOLED INC FUND · WA

Provenance

Return type
form_990
Tax year
2022
Filed
7 May 2024
IRS schema version
2022v5.0
Source object
202411319349304386

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