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Nonprofiteer
← VAIL CLINIC INC

Form 990 for tax year 2024

Filed by VAIL CLINIC INC.

Totals

Total revenue
$405,450,623
Total expenses
$416,126,050
Contributions and grants received
$4,268,583
Grants paid
$18,136,324
Program service revenue
$386,337,168
Investment income
$1,877,435
Other revenue
$12,967,437
Total assets, end of year
$889,124,617
Total liabilities, end of year
$237,117,808
Net assets or fund balances, end of year
$652,006,809
Program services expenses (Part IX)
$313,796,653
Management and general expenses
$102,329,397
Fundraising expenses
$0
Program service expenses (Part III)
$313,796,653

Program services were 75.4% 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.

  • 1d · Related organizations

    $4,223,344

  • 1e · Government grants (contributions)

    $45,239

  • 2a · Program service revenue: PATIENT SERVICE REVENU

    total $236,608,998 · related or exempt $235,120,151 · unrelated business $1,488,847

  • 2b · Program service revenue: MEDICARE/MEDICAID

    total $76,201,432 · related or exempt $76,201,432

  • 2c · Program service revenue: SUBSIDIARY EQUITY

    total $45,376,709 · related or exempt $45,376,709

  • 2d · Program service revenue: PROF SERVICES/OVERHEAD

    total $28,150,029 · related or exempt $28,150,029

  • 3 · Investment income

    total $1,711,426 · unrelated business $556,644 · excluded $1,154,782

  • 6a · Gross rents

    real property $9,044,372

  • 6b · Less rental expenses

    real property $3,703,745

  • 6c · Rental income or loss

    real property $5,340,627

  • 6d · Net rental income or loss

    total $5,340,627 · excluded $5,340,627

  • 7a · Gross sales of assets other than inventory

    other assets $166,009

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

    other assets $0

  • 7c · Gain or loss

    other assets $166,009

  • 7d · Net gain or loss

    total $166,009 · excluded $166,009

  • 10a · Gross sales of inventory

    $6,622,235

  • 10b · Cost of goods sold

    $5,333,562

  • 10c · Net income from sales of inventory

    total $1,288,673 · unrelated business $1,288,673

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $2,078,252 · related or exempt $2,078,252

  • 11b · Other revenue: PAYER INCENTIVE REVENU

    total $1,635,863 · related or exempt $1,635,863

  • 11c · Other revenue: CAFETERIA REVENUE

    total $1,613,696 · excluded $1,613,696

  • 11d · All other revenue

    total $1,010,326 · related or exempt $1,010,326

  • 11e · Other revenue, total

    $6,338,137

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,136,324 · program services $18,136,324

  • 5 · Compensation of officers, directors and key employees

    total $4,755,248 · management and general $4,755,248

  • 7 · Other salaries and wages

    total $145,530,103 · program services $109,495,056 · management and general $36,035,047

  • 8 · Pension plan contributions

    total $9,162,809 · program services $7,610,087 · management and general $1,552,722

  • 9 · Other employee benefits

    total $19,166,083 · program services $16,565,957 · management and general $2,600,126

  • 10 · Payroll taxes

    total $13,979,460 · program services $9,043,278 · management and general $4,936,182

  • 11b · Fees: legal

    total $375,604 · program services $15,940 · management and general $359,664

  • 11c · Fees: accounting

    total $187,941 · program services $190 · management and general $187,751

  • 11d · Fees: lobbying

    total $44,131 · management and general $44,131

  • 11f · Fees: investment management

    total $1,401,072 · management and general $1,401,072

  • 11g · Fees: other

    total $49,871,870 · program services $29,581,055 · management and general $20,290,815

  • 12 · Advertising and promotion

    total $1,516,705 · program services $93,387 · management and general $1,423,318

  • 13 · Office expenses

    total $4,368,148 · program services $2,208,219 · management and general $2,159,929

  • 14 · Information technology

    total $417,490 · program services $165,375 · management and general $252,115

  • 15 · Royalties

    total $47,214 · management and general $47,214

  • 16 · Occupancy

    total $14,211,961 · program services $404,218 · management and general $13,807,743

  • 17 · Travel

    total $725,806 · program services $415,943 · management and general $309,863

  • 19 · Conferences, conventions and meetings

    total $589,490 · program services $278,413 · management and general $311,077

  • 20 · Interest

    total $4,593,779 · program services $4,593,779

  • 21 · Payments to affiliates

    total $336,791 · management and general $336,791

  • 22 · Depreciation, depletion and amortization

    total $19,923,353 · program services $18,174,298 · management and general $1,749,055

  • 23 · Insurance

    total $2,002,696 · management and general $2,002,696

  • 24a · Other expenses: MEDICAL & OTHER SUPPLIE

    total $69,109,603 · program services $68,408,284 · management and general $701,319

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $12,005,419 · program services $5,690,050 · management and general $6,315,369

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $11,326,617 · program services $11,326,617

  • 24d · Other expenses: PROVIDER FEE EXPENSE

    total $7,153,442 · program services $7,153,442

  • 24e · All other expenses

    total $5,186,891 · program services $4,436,741 · management and general $750,150

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,053,306 · end of year $16,445,520

  • 2 · Savings and temporary cash investments

    beginning of year $25,830,235 · end of year $0

  • 4 · Accounts receivable

    beginning of year $47,508,232 · end of year $46,504,436

  • 7 · Other notes and loans receivable

    beginning of year $44,649,325 · end of year $44,649,325

  • 8 · Inventories for sale or use

    beginning of year $10,263,741 · end of year $9,567,467

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,399,911 · end of year $7,188,160

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

    $616,271,051

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

    $321,295,311

  • 10c · Land, buildings and equipment, net

    beginning of year $306,858,869 · end of year $294,975,740

  • 11 · Investments: publicly traded securities

    beginning of year $247,366,321 · end of year $284,567,963

  • 13 · Investments: program-related

    beginning of year $48,768,914 · end of year $49,599,722

  • 15 · Other assets

    beginning of year $94,543,826 · end of year $135,626,284

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,552,292 · end of year $48,484,781

  • 20 · Tax-exempt bond liabilities

    beginning of year $127,217,047 · end of year $99,096,988

  • 25 · Other liabilities

    beginning of year $51,816,318 · end of year $89,536,039

  • 27 · Net assets without donor restrictions

    beginning of year $625,953,058 · end of year $651,382,156

  • 28 · Net assets with donor restrictions

    beginning of year $703,965 · end of year $624,653

Mission and programs · 2024

Mission

ELEVATING HEALTH ACROSS OUR MOUNTAIN COMMUNITIES.

  • SEE SCHEDULE O.

    Expenses $313,796,653 · Grants $18,136,324 · Revenue $389,572,762

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Will Cook

    PRESIDENT AND CEO

    Total calculated
    $1,378,594
    From this org
    $1,300,013
    From related orgs
    $0
    Other
    $78,581
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $883,106
    Bonus
    $343,518
    Other
    $73,389
    Deferred
    $40,250
    Nontaxable benefits
    $38,331
    Filer's total
    $1,378,594

  • Amanda Veit

    CHIEF OPERATIONS OFFICER

    Total calculated
    $921,642
    From this org
    $856,533
    From related orgs
    $0
    Other
    $65,109
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $496,751
    Bonus
    $320,313
    Other
    $39,469
    Deferred
    $33,019
    Nontaxable benefits
    $32,090
    Filer's total
    $921,642

  • Brian Reed MD

    DIRECTOR

    Total calculated
    $534,140
    From this org
    $487,654
    From related orgs
    $0
    Other
    $46,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $365,474
    Bonus
    $99,468
    Other
    $22,712
    Deferred
    $11,115
    Nontaxable benefits
    $35,371
    Filer's total
    $534,140

  • Maryjane Wurth

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Andy Daly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dick Cleveland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leslie Vidal MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michelle Dibos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reginald Franciose MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steven Flashner MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Brown

    TREASURER AND CFO

    Total calculated
    $512,742
    From this org
    $473,158
    From related orgs
    $0
    Other
    $39,584
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $373,980
    Bonus
    $93,754
    Other
    $5,424
    Deferred
    $16,875
    Nontaxable benefits
    $22,709
    Filer's total
    $512,742

  • David Kaplan

    PRESIDENT CMM

    Total calculated
    $853,507
    From this org
    $798,639
    From related orgs
    $0
    Other
    $54,868
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $483,462
    Bonus
    $304,830
    Other
    $10,347
    Deferred
    $17,250
    Nontaxable benefits
    $37,618
    Filer's total
    $853,507

  • Kevin Rudolph

    CHIEF LEGAL OFFICER

    Total calculated
    $566,836
    From this org
    $511,540
    From related orgs
    $0
    Other
    $55,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $411,027
    Bonus
    $94,820
    Other
    $5,693
    Deferred
    $17,250
    Nontaxable benefits
    $38,046
    Filer's total
    $566,836

  • Nicholas Brown

    CHIEF STRATEGY OFFICER

    Total calculated
    $554,257
    From this org
    $501,006
    From related orgs
    $0
    Other
    $53,251
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $329,503
    Bonus
    $163,974
    Other
    $7,529
    Deferred
    $17,000
    Nontaxable benefits
    $36,251
    Filer's total
    $554,257

  • Craig Cohn

    CHIEF REAL ESTATE DEV OFFI

    Total calculated
    $687,230
    From this org
    $664,074
    From related orgs
    $0
    Other
    $23,156
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $354,005
    Bonus
    $292,153
    Other
    $17,916
    Deferred
    $16,923
    Nontaxable benefits
    $6,233
    Filer's total
    $687,230

  • Patricia Hardenbergh MD

    PHYSICIAN

    Total calculated
    $1,005,133
    From this org
    $954,878
    From related orgs
    $0
    Other
    $50,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $760,029
    Bonus
    $66,667
    Other
    $128,182
    Deferred
    $17,250
    Nontaxable benefits
    $33,005
    Filer's total
    $1,005,133

  • Alexander Urquhart MD

    PHYSICIAN

    Total calculated
    $693,508
    From this org
    $640,467
    From related orgs
    $0
    Other
    $53,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $574,294
    Bonus
    $37,080
    Other
    $29,093
    Deferred
    $17,250
    Nontaxable benefits
    $35,791
    Filer's total
    $693,508

  • Chris Lindley

    EXECUTIVE DIRECTOR, EVBH

    Total calculated
    $728,335
    From this org
    $685,957
    From related orgs
    $0
    Other
    $42,378
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $387,136
    Bonus
    $289,864
    Other
    $8,957
    Deferred
    $5,385
    Nontaxable benefits
    $36,993
    Filer's total
    $728,335

  • Joseph Dall'Era MD

    PHYSICIAN

    Total calculated
    $671,254
    From this org
    $641,948
    From related orgs
    $0
    Other
    $29,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $553,991
    Bonus
    $84,000
    Other
    $3,957
    Deferred
    $6,031
    Nontaxable benefits
    $23,275
    Filer's total
    $671,254

  • Jerry Greenberg MD

    PHYSICIAN

    Total calculated
    $658,709
    From this org
    $620,305
    From related orgs
    $0
    Other
    $38,404
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $518,630
    Bonus
    $66
    Other
    $101,609
    Deferred
    $17,250
    Nontaxable benefits
    $21,154
    Filer's total
    $658,709

  • John Higgins

    FORMER TREASURER AND CFO

    Total calculated
    $575,154
    From this org
    $567,326
    From related orgs
    $0
    Other
    $7,828
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $47,723
    Bonus
    $110,249
    Other
    $409,354
    Deferred
    $2,448
    Nontaxable benefits
    $5,380
    Filer's total
    $575,154

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
SEVERANCE: JOHN HIGGINS RECEIVED $391,717 DURING THE TAX YEAR. 457(F)/457(B) PLAN: WILL COOK AND AMANDA VEIT PARTICIPATED IN A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) DURING THE YEAR. THE 457(F)/457(B) AMOUNTS WERE $90,000 AND $55,000, RESPECTIVELY. BOTH PARTICIPANTS ARE FULLY VESTED IN THEIR PLANS.
PART I, LINE 7
NON FIXED AND BONUS PAYMENTS: INCENTIVE BONUSES ARE CALCULATED AS A PERCENT OF BASE COMPENSATION. THE DETERMINATION OF WHETHER OR NOT A PAYOUT IS MADE IS BASED ON COMPANY FINANCIAL PERFORMANCE AND ON INDIVIDUAL PERFORMANCE REVIEWS CONDUCTED BY THE CEO AND THE COMPENSATION COMMITTEE. CERTAIN PHYSICIAN PRODUCTIVITY BONUSES ARE PAID BASED ON RELATIVE VALUE UNITES (RVUS) WHICH ARE AN INDICATION OF THE EMPLOYEE'S PRODUCTIVITY OR LEVEL OF EFFORT. OTHER PHYSICIAN BONUSES ARE BASED ON SATISFACTION OF CRITERIA DEFINED IN EMPLOYMENT AGREEMENTS.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • COLORADO MOUNTAIN MEDICAL LLC

    HEALTHCARE · CO · income $32,347,330 · assets $24,171,329

    Directly controlled by VAIL CLINIC

  • NORTH EAGLE INVESTMENTS

    RENTAL · CO · income $166,009 · assets $0

    Directly controlled by VAIL CLINIC

  • TEN MILE HOLDINGS LLC

    HOLDING COMPANY · CO · income $32,303 · assets $6,959,511

    Directly controlled by VAIL CLINIC

Related partnerships

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

  • VAIL VALLEY SURGERY CENTER

    RELATED · HEALTH CARE · CO · 50.17% owned · share of income $45,492,300 · share of assets $15,080,385

    Directly controlled by VAIL CLINIC

  • EAGLE RIVER REAL ESTATE HOLDINGS

    RELATED · RENTAL · CO · 75% owned · share of income -$1,115,486 · share of assets $56,062,394

    Directly controlled by VAIL CLINIC

  • VHS FUND LP

    INVESTMENT · INVESTMENT · NC · 91.5% owned · share of income $9,828,878 · share of assets $199,972,280

    Directly controlled by VAIL CLINIC

  • CMM HOLDINGS LLC

    INVESTMENT · CO

Related corporations and trusts

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

  • VHS MANAGEMENT SERVICES INC

    C · HEALTH CARE · CO · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
24 September 2026
IRS schema version
2024v5.5
Source object
202632679349301113

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