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← LAKELAND REGIONAL HEALTH SYSTEM ASSOCIATE BENEFIT PROGRAM TRUST

Form 990 for tax year 2023

Filed by LAKELAND REGIONAL HEALTH SYSTEM ASSOCIATE BENEFIT PROGRAM TRUST.

Totals

Total revenue
$461,319
Total expenses
$52,754
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$461,319
Other revenue
$0
Total assets, end of year
$18,287,609
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$18,287,609
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $453,739 · excluded $453,739

  • 7a · Gross sales of assets other than inventory

    securities $638,776

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

    securities $631,196

  • 7c · Gain or loss

    securities $7,580

  • 7d · Net gain or loss

    total $7,580 · excluded $7,580

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,000

  • 11f · Fees: investment management

    total $20,843

  • 11g · Fees: other

    total $29,911

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,228,159

  • 2 · Savings and temporary cash investments

    end of year $3,132,558

  • 11 · Investments: publicly traded securities

    beginning of year $13,655,635 · end of year $14,477,889

  • 12 · Investments: other securities

    end of year $677,162

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,883,794 · end of year $18,287,609

Mission and programs · 2023

Mission

THE TRUST WAS ESTABLISHED TO FUND THE POSTRETIREMENT OBLIGATION OF LAKELAND REGIONAL HEALTH SYSTEM.

Activities or mission (Part I)

TO FUND THE POSTRETIREMENT OBLIGATION OF LAKELAND REGIONAL HEALTH SYSTEM.

  • PAYMENT OF STIPEND TO ELIGIBLE RETIREES TOWARDS THE PURCHASE OF HEALTH INSURANCE OR TO PURCHASE THEIR OWN MEDICARE STOP LOSS INSURANCE COVERAGE. NUMBER OF ACTIVE MEMBERS IN THE PLAN IS 456. TOTAL EMPLOYEES THAT COULD BECOME ELIGIBLE TO RECIEVE FUTURE BENEFITS UPON RETIREMENT IS 410.

As filed on the 2023 return.

Listed in Part VII

  • Celeste McIntyre

    TRUSTEE

    Total calculated
    $700,823
    From this org
    $0
    From related orgs
    $543,696
    Other
    $157,127
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $395,982 related
    Bonus
    $0 + $116,721 related
    Other
    $0 + $30,993 related
    Deferred
    $0 + $129,077 related
    Nontaxable benefits
    $0 + $28,050 related
    Filer's total
    $0 + $700,823 related

  • Heather Lallo

    TRUSTEE

    Total calculated
    $467,544
    From this org
    $0
    From related orgs
    $420,425
    Other
    $47,119
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,739 related
    Bonus
    $0 + $73,561 related
    Other
    $0 + $26,125 related
    Deferred
    $0 + $19,372 related
    Nontaxable benefits
    $0 + $27,747 related
    Filer's total
    $0 + $467,544 related

  • Stephanie Ostrander

    TRUSTEE

    Total calculated
    $397,968
    From this org
    $0
    From related orgs
    $351,142
    Other
    $46,826
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $286,238 related
    Bonus
    $0 + $63,589 related
    Other
    $0 + $1,315 related
    Deferred
    $0 + $17,202 related
    Nontaxable benefits
    $0 + $29,624 related
    Filer's total
    $0 + $397,968 related

  • Linda MacDonald

    TRUSTEE

    Total calculated
    $714,027
    From this org
    $0
    From related orgs
    $591,285
    Other
    $122,742
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $422,298 related
    Bonus
    $0 + $120,098 related
    Other
    $0 + $48,889 related
    Deferred
    $0 + $100,802 related
    Nontaxable benefits
    $0 + $21,940 related
    Filer's total
    $0 + $714,027 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 3
THE FILING ORGANIZATION RELIED UPON A RELATED ORGANIZATION WHO UTILIZED THE FOLLOWING PROCESS IN DETERMINATION OF THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. THE COREWELL HEALTH BOARD OF DIRECTORS (THROUGH ITS COMPENSATION COMMITTEE) USES THE FOLLOWING PROCESS FOR DETERMINING COMPENSATION OF THE TOP MANAGEMENT OFFICIALS, OTHER OFFICERS, AND KEY EMPLOYEES AT COREWELL HEALTH. LABOR MARKET DATA REFLECTING COMPARABLE ORGANIZATIONS AND JOBS (PREPARED BY INDEPENDENT FIRMS) ARE RELIED UPON IN SETTING COMPENSATION LEVELS. COMPETITIVE ASSESSMENT REPORTS ARE PROVIDED TO THE COMPENSATION COMMITTEE IN ADVANCE OF MEETINGS. THE COMPETITIVE ASSESSMENT REPORT IS PREPARED BY A NATIONALLY KNOWN INDEPENDENT EXECUTIVE COMPENSATION FIRM. THE FOLLOWING SURVEYS, PREPARED BY INDEPENDENT FIRMS, WERE THE PRIMARY SOURCES REFERENCED TO OBTAIN COMPARABLE MARKET DATA FOR THE REVIEW: GALLAGHER: 2022 NATIONAL HEALTHCARE LEADERSHIP COMPENSATION SURVEY MERCER: 2023 IHN HEALTHCARE COMPENSATION SURVEY MERCER: 2023 IHP HEALTH PLAN COMPENSATION SURVEY SULLIVANCOTTER, INC: 2023 HEALTH CARE MANAGEMENT AND EXECUTIVE COMPENSATION SURVEY IN ADDITION, TWO GENERAL INDUSTRY SURVEYS WERE REFERENCED FOR SELECT POSITIONS: MERCER: 2023 US EXECUTIVE REMUNERATION SUITE WILLIS TOWERS WATSON: 2023 EXECUTIVE COMPENSATION SURVEY IN ADDITION TO THE ABOVE DATA SOURCES, THE COMPENSATION COMMITTEE APPROVED THE CREATION OF A CUSTOM PEER GROUP OF HIGH PERFORMING INTEGRATED HEALTH SYSTEMS TO ENSURE ROBUST DATA AND A RELEVANT COMPARATOR MARKET. THE PEER GROUP ORGANIZATIONS ARE APPROVED BY THE COMPENSATION COMMITTEE AND CONSISTS OF HEALTHCARE SYSTEMS SIMILAR IN REVENUE SIZE, TALENT MARKET COMPETITORS, HIGH PERFORMERS, FINANCIALLY STABLE AS INDICATED BY BOND RATING AND THAT FOLLOW A SIMILAR STRATEGY (MULTI-SITE SYSTEMS, HEALTH PLANS). COMPARABLE DATA FOR THE APPROVED PEER GROUP IS COMPILED BY THE INDEPENDENT EXECUTIVE COMPENSATION CONSULTING FIRM. COMPENSATION ADJUSTMENTS ARE APPROVED BY COMPENSATION COMMITTEE MEMBERS, CONSISTENT WITH THE COREWELL HEALTH COMPENSATION PHILOSOPHY DESCRIBED BELOW. MINUTES OF COMMITTEE DISCUSSIONS AND DECISIONS ARE PREPARED TO MEMORIALIZE COMPENSATION COMMITTEE DECISIONS BASED UPON THE ABOVE DATA. CASH COMPENSATION DATA RELIED UPON BY THE COMPENSATION COMMITTEE IS NATIONAL AND REFLECTS THE COMPENSATION PAID TO EXECUTIVES IN COMPARABLE JOBS IN COMPARABLY-SIZED HEALTH CARE AND/OR HEALTH INSURANCE ORGANIZATIONS. COREWELL HEALTH RECRUITS NATIONALLY FOR ITS EXECUTIVES. BENEFITS DATA REFLECT NATIONAL HEALTH CARE/HEALTH INSURANCE MARKET PRACTICES. THIS PROCESS IS INTENDED TO ASSIST COREWELL HEALTH IN QUALIFYING FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS (INTERMEDIATE SANCTIONS REGULATIONS) AND COMPLYING WITH THE POTENTIAL COREWELL HEALTH EXCESS BENEFIT TRANSACTION POLICY FOR THOSE INDIVIDUALS IN THE GROUP WHO ARE DISQUALIFIED PERSONS. THE OPINION SUBMITTED FROM THE THIRD PARTY INDEPENDENT CONSULTING FIRM IS IN ACCORDANCE WITH THE PROVISIONS OF TREASURY REGULATIONS SECTION 53.4958-6(C)(2) AND IS ALSO INTENDED TO SATISFY THE PROFESSIONAL ADVICE REQUIREMENT OF TREASURY REGULATIONS SECTION 53.4958-1(D)(4)(III).

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.

  • CHCC TAYLOR LLC

    N/A · MANAGEMENT · MI

  • CHCC TROY LLC

    N/A · MANAGEMENT · MI

  • CHEC 1 LLC

    N/A · MANAGEMENT · MI

  • DEARBORN SCHAEFFER OFFICE CO LLC

    N/A · REAL ESTATE · MI

  • OAKMED LLC

    N/A · PRIVATE DUTY NURSING · MI

  • SPECTRUM ATLAS JV LLC

    N/A · MANAGEMENT · MI

  • WEST MICHIGAN ACCOUNTABLE CARE ORGANIZATION LLC

    N/A · ACCOUNTABLE CARE ORGANIZATION · MI

Related corporations and trusts

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

  • 1697 MICHIGAN STREET PROPERTY

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • 25 MICHIGAN STREET CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • 35 MICHIGAN STREET CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • BEAUMONT NURSING HOME SERVICES INC

    C · ASSISTED CARE LIVING · MI

    Directly controlled by WILLIAM BEAUMONT HOSPITAL

  • BH SOUTHFIELD BILLING INC

    C · MANAGEMENT AND DISPATCH SERVICES · MI

    Directly controlled by BH GRAND RIVER SOUTHFIELD INC

  • BLUE STAR PROFESSIONAL BUILDING CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by HOSPICE AT HOME INC

  • BOTSFORD COMMONS PROPERTY ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by BOTSFORD CONTINUING CARE CORPORATION

  • COREWELL HEALTH INDEMNITY COMPANY LTD

    C · PREMIUM DEPOSITS · CJ

    Directly controlled by COREWELL HEALTH

  • COREWELL HEALTH PHYSICIANS INSURANCE COMPANY

    C · PROFESSIONAL INSURANCE · MI

    Directly controlled by COREWELL HEALTH

  • FOUR FLAGS PROPERTIES INC

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by LAKELAND HEALTH VENTURES INC

  • GRAND RIVER ABSOLUTE RETURN FUND LTD

    POOLED INVESTMENT FUND · CJ

    Directly controlled by COREWELL HEALTH

  • HELEN DE VOS WOMEN AND CHILDREN'S HEALTH PAVILION ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • LAKELAND HEALTH ENTERPRISES INC

    C · ACCOUNTING AND BILLING · MI

    Directly controlled by LAKELAND REGIONAL HEALTH SYSTEM INC

  • LAKELAND HEALTH VENTURES INC

    C · HOLDING COMPANY · MI

    Directly controlled by LAKELAND HEALTH ENTERPRISES INC

  • LAKELAND MEDICAL PRACTICES

    C · MEDICAL ADMINISTRATIVE SERVICES · MI

    Directly controlled by LAKELAND HEALTH ENTERPRISES INC

  • LAKELAND PERSONAL CARE SERVICES INC

    C · HEALTHCARE SERVICES · MI

    Directly controlled by LAKELAND HEALTH VENTURES INC

  • LAKELAND PHYSICIAN CARE NETWORK

    C · HEALTHCARE SERVICES · MI

    Directly controlled by LAKELAND HEALTH ENTERPRISES INC

  • LEMMEN-HOLTON CANCER PAVILION CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • MICHIGAN STREET PARKING CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • MICHIGAN STREET PROJECT CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • MIDWEST MEDICAL CENTER

    C · PHYSICIANS OFFICE · MI

    Directly controlled by OAKWOOD AFFILIATED VENTURES INC

  • MUSCULO-SKELETAL CENTER CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by SPECTRUM HEALTH HOSPITALS

  • OAKWOOD AFFILIATED VENTURES INC

    C · HOLDING COMPANY · MI

    Directly controlled by OAKWOOD HEALTHCARE INC

  • OAKWOOD ENTERPRISES INC

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by OAKWOOD AFFILIATED VENTURES INC

  • PENNOCK PROFESSIONAL BUILDING CONDOMINIUM ASSOCIATION

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by PENNOCK HOSPITAL

  • PENNOCK VENTURES INC

    C · PROPERTY MANAGEMENT · MI

    Directly controlled by PENNOCK HOSPITAL

  • PRIORITY HEALTH INSURANCE COMPANY

    C · INSURANCE · MI

    Directly controlled by PRIORITY HEALTH

  • PRIORITY HEALTH MANAGED BENEFITS INC

    C · THIRD PARTY ADMINISTRATOR · MI

    Directly controlled by COREWELL HEALTH

  • SOUTHWESTERN MEDICAL CLINIC PHYSICIANS INC

    C · PHYSICIANS OFFICE · MI

    Directly controlled by LAKELAND HEALTH ENTERPRISES INC

  • SPECTRUM HEALTH PHYSICIAN ALLIANCE

    C · PHYSICIANS OFFICE · MI

    Directly controlled by COREWELL HEALTH

  • THE PHARMACY SHOPPE INC

    C · PHARMACEUTICALS · MI

    Directly controlled by LAKELAND HEALTH VENTURES INC

  • WMHTC

    C · PHYSICIANS · MI

    Directly controlled by COREWELL HEALTH

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202423109349302292

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