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Nonprofiteer
← COMMUNITY HEALTH NETWORK OF CONNECTICUT HOLDINGS INC

Form 990 for tax year 2023

Filed by COMMUNITY HEALTH NETWORK OF CONNECTICUT HOLDINGS INC.

Totals

Total revenue
$1,245,247
Total expenses
$3,063,235
Contributions and grants received
$0
Grants paid
$2,045,000
Program service revenue
$547,309
Investment income
$697,938
Other revenue
$0
Total assets, end of year
$4,143,327
Total liabilities, end of year
$39,050
Net assets or fund balances, end of year
$4,104,277
Program services expenses (Part IX)
$3,063,235
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,063,235

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.

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $547,309 · related or exempt $547,309

  • 3 · Investment income

    total $41,252 · excluded $41,252

  • 7a · Gross sales of assets other than inventory

    other assets $2,643,314

  • 7b · Less cost or other basis and sales expenses

    other assets $1,986,628

  • 7c · Gain or loss

    other assets $656,686

  • 7d · Net gain or loss

    total $656,686 · excluded $656,686

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,045,000 · program services $2,045,000

  • 5 · Compensation of officers, directors and key employees

    total $243,836 · program services $243,836

  • 10 · Payroll taxes

    total $12,883 · program services $12,883

  • 11a · Fees: management

    total $14,405 · program services $14,405

  • 11b · Fees: legal

    total $38,377 · program services $38,377

  • 11g · Fees: other

    total $245,091 · program services $245,091

  • 13 · Office expenses

    total $86 · program services $86

  • 14 · Information technology

    total $279 · program services $279

  • 16 · Occupancy

    total $112,228 · program services $112,228

  • 17 · Travel

    total $944 · program services $944

  • 19 · Conferences, conventions and meetings

    total $93 · program services $93

  • 20 · Interest

    total $41,077 · program services $41,077

  • 22 · Depreciation, depletion and amortization

    total $204,278 · program services $204,278

  • 23 · Insurance

    total $13,484 · program services $13,484

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $42,544 · program services $42,544

  • 24b · Other expenses: MEMBERSHIP

    total $30 · program services $30

  • 24e · All other expenses

    total $48,600 · program services $48,600

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,129,981 · end of year $4,142,327

  • 4 · Accounts receivable

    beginning of year $17,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $36,722

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,847,592

  • 12 · Investments: other securities

    beginning of year $1,000 · end of year $1,000

  • 15 · Other assets

    beginning of year $6,081 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,679 · end of year $33,572

  • 19 · Deferred revenue

    beginning of year $44,070

  • 25 · Other liabilities

    beginning of year $42,505 · end of year $5,478

  • 27 · Net assets without donor restrictions

    beginning of year $5,922,265 · end of year $4,104,277

Mission and programs · 2023

Mission

THE CORPORATION HAS NOT ADOPTED A SEPARATE MISSION STATEMENT. HOWEVER, THE CORPORATION'S CHARITABLE PURPOSE IS TO SUPPORT 501(C)(3) TAX-EXEMPT FEDERALLY QUALIFIED HEALTH CENTERS.

Activities or mission (Part I)

MOST SIGNIFICANT ACTIVITIES ARE PROVIDING SUPPORT, STRATEGIC PLANNING, AND FACILITIES FOR 501(C)(3) FEDERALLY QUALIFIED HEALTH CENTERS.

  • STRATEGIC PLANNING ACTIVITY - THE CORPORATION PERFORMS PLANNING AND COORDINATING SERVICES FOR CHNCT. THE CORPORATION'S DIRECTORS AND OFFICERS DEVELOP LONG-RANGE STRATEGIC PLANS FOR BOTH THE CORPORATION AND CHNCT. THIS ACTIVITY INCLUDES OVERSIGHT RESPONSIBILITY FOR THE PHILOSOPHY, MISSION AND BUDGET OF BOTH ORGANIZATIONS, AS WELL AS REVIEW AND APPROVAL OF THE OBJECTIVES AND MAJOR POLICIES OF THE SUPPORTED CHNCT.

  • FACILITIES MAINTENANCE ACTIVITY - THE CORPORATION OWNS AND MAINTAINS PROPERTY FOR CHNCT TO USE IN FURTHERANCE OF ITS TAX-EXEMPT ACTIVITIES. THE CORPORATION FORMED A SINGLE MEMBER LIMITED LIABILITY COMPANY, FOUNDERS ASSOCIATES, LLC TO PURCHASE 4 FAIRFIELD BOULEVARD IN WALLINGFORD, CT AND LEASE IT TO CHNCT. THE PROPERTY WAS PURCHASED IN SEPTEMBER 2013. THE PROPERTY WAS SOLD IN AUGUST, 2023. SUBSEQUENTLY, THE CORPORATION'S BOARD OF DIRECTORS APPROVED TO DISSOLVE FOUNDERS ASSOCIATES, LLC. THE CT SECRETARY OF STATE CERTIFIED THE DISSOLUTION EFFECTIVE DECEMEBER 20, 2023.

    Expenses $2,789,636 · Grants $2,045,000 · Revenue $292,309

  • IN FURTHERANCE OF THE SUPPORT OF THE CHARITABLE ACTIVITIES OF CHNCT, CHNCT HOLDINGS, INC. HAS DEVELOPED AND IMPLEMENTED A PLAN TO ESTABLISH A TELEHEALTH PROGRAM TO IMPROVE HEALTHCARE ACCESS TO THE MEDICALLY UNDERSERVED POPULATION OF CONNECTICUT THROUGH FEDERALLY QUALIFIED HEALTH CENTERS IN THE STATE OF CONNECTICUT. SERVICES PROVIDED IN THIS TELEHEALTH PROGRAM INCLUDE DIABETIC RETINOPATHY SCREENING, SPECIALIST ECONSULTS, BEHAVIORAL HEALTH AND PRIMARY CARE VIRTUAL VISITS, REMOTE PATIENT MONITORING AND CHRONIC CONDITION MANAGEMENT.

    Expenses $273,599 · Revenue $255,000

As filed on the 2023 return.

Listed in Part VII

  • ARVIND SHAW

    CHAIR (OUTGOING)

    Total calculated
    $0
    Hours/week
    1 + 2.5 related

  • DON THOMPSON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • KAREN A DALEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELISSA MEYERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL R TAYLOR

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MOLLIE MELBOURNE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • NICHELLE MULLINS

    SECRETARY (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • SUZANNE LAGARDE MD

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SYLVIA B KELLY MPA

    PRESIDENT & CEO

    Total calculated
    $731,222
    From this org
    $0
    From related orgs
    $715,221
    Other
    $16,001
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $512,517 related
    Bonus
    $0 + $155,993 related
    Other
    $0 + $46,711 related
    Deferred
    $0 + $11,550 related
    Nontaxable benefits
    $0 + $4,451 related
    Filer's total
    $0 + $731,222 related

  • RICHARD ALBRECHT

    TELEHEALTH NETWORK DIRECTOR

    Total calculated
    $238,373
    From this org
    $194,239
    From related orgs
    $0
    Other
    $44,134
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $161,749
    Bonus
    $18,612
    Other
    $13,878
    Deferred
    $6,024
    Nontaxable benefits
    $38,110
    Filer's total
    $238,373

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

  • 7 · Other non-fixed payments

Answered no

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

PART I, LINE 7
IN 2023, THE COMPANY ISSUED QUARTERLY INCENTIVE BONUS PAYMENTS TO ITS SOLE EMPLOYEE, THE TELEHEALTH DIRECTOR, AS PER THE INCENTIVE PLAN THAT WAS ESTABLISHED IN 2020 BY THE TELEHEALTH PROGRAM COMMITTEE, THE PERSONNEL AND COMPENSATION COMMITTEE AND THE BOARD OF DIRECTORS. THE PURPOSE OF THE INCENTIVE PLAN IS TO ALIGN THE TELEHEALTH DIRECTOR'S WORK EFFORT WITH THE OBJECTIVES AND ACCOMPLISHMENTS OF THE TELEHEALTH PROGRAM. ON A QUARTERLY BASIS, THE TELEHEALTH PROGRAM COMMITTEE REVIEWS AND EVALUATES THE PROGRAM'S ACCOMPLISHMENTS AS COMPARED TO ITS OBJECTIVES AND DETERMINES THE ISSUANCE OF AN INCENTIVE BONUS PAYMENT FOR THE TELEHEALTH DIRECTOR VALUED AT 10% OF BASE SALARY. ON A QUARTERLY BASIS, THE TELEHEALTH PROGRAM COMMITTEE PRESENTS ITS FINDINGS AND RECOMMENDATION TO THE PERSONNEL AND COMPENSATION COMMITTEE FOR APPROVAL OF THE ISSUANCE OF THE INCENTIVE BONUS PAYMENT FOR THE TELEHEALTH DIRECTOR. THE MEMBERS OF THE TELEHEALTH PROGRAM COMMITTEE AND THE MEMBERS OF THE PERSONNEL AND COMPENSATION COMMITTEE ARE MEMBERS OF THE COMPANY'S BOARD OF DIRECTORS.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FOUNDERS ASSOCIATES LLC

    TO PURCHASE & MANAGE REAL ESTATE PROPERTIES ON BEHALF OF CHNCT HOLDINGS · CT · income $948,994 · assets $0

    Directly controlled by COMMUNITY HEALTH NETWORK OF CONNECTICUT HOLDINGS INC

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202443129349302414

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