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Nonprofiteer
← SVHC REALTY INC

Form 990 for tax year 2024

Filed by SVHC REALTY INC.

Totals

Total revenue
$362,000
Total expenses
$701,802
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$362,000
Total assets, end of year
$4,707,846
Total liabilities, end of year
$2,162,374
Net assets or fund balances, end of year
$2,545,472
Program services expenses (Part IX)
$664,771
Management and general expenses
$37,031
Fundraising expenses
$0
Program service expenses (Part III)
$664,771

Program services were 94.7% 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.

  • 6a · Gross rents

    real property $362,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $362,000

  • 6d · Net rental income or loss

    total $362,000 · excluded $362,000

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $127,993 · program services $127,993

  • 8 · Pension plan contributions

    total $629 · program services $629

  • 9 · Other employee benefits

    total $54,330 · program services $54,330

  • 11b · Fees: legal

    total $2,314 · management and general $2,314

  • 11c · Fees: accounting

    total $19,384 · management and general $19,384

  • 11g · Fees: other

    total $16,511 · program services $16,511

  • 13 · Office expenses

    total $20,542 · program services $20,542

  • 16 · Occupancy

    total $271,704 · program services $271,704

  • 17 · Travel

    total $164 · program services $164

  • 20 · Interest

    total $15,333 · management and general $15,333

  • 23 · Insurance

    total $172,898 · program services $172,898

Balance sheet

Part X, book values.

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

    $5,259,349

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

    $551,503

  • 10c · Land, buildings and equipment, net

    beginning of year $4,707,846 · end of year $4,707,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $62,647 · end of year $79,779

  • 24 · Unsecured notes and loans payable

    beginning of year $511,088 · end of year $511,088

  • 25 · Other liabilities

    beginning of year $1,248,837 · end of year $1,571,507

  • 27 · Net assets without donor restrictions

    beginning of year $2,885,274 · end of year $2,545,472

Mission and programs · 2024

Mission

SVHC REALTY,INC. WAS FORMED FOR THE PURPOSE OF ACTING AS A SUPPORTING ORGANIZATION TO SOUTHWESTERN VERMONT HEALTHCARE CORPORATION (SVHC), ITSELF A TAXEXEMPT ENTITY, WHICH, AMONG OTHER ACTIVITIES, OPERATES SOUTHWESTERN VERMONT MEDICAL CENTER (SVMC) IN BENNINGTON, VERMONT.

Activities or mission (Part I)

SVHC REALTY, INC. WAS FORMED TO ACT AS A SUPPORTING ORGANIZATION TO SOUTHWESTERN VERMONT HEALTHCARE CORPORATION.

  • ACTIVITIES:1. OPERATION OF A VACCINATION AND TESTING RESOURCE CENTER, AS NEEDED.2. ARRANGING FOR AGREEMENT WITH THE TOWN OF BENNINGTON, WHERE THE TOWN IS ALLOWED TO USE THE ATHLETIC FIELDS ON THE PROPERTY FOR PUBLIC USE IN VARIOUS RECREATION LEAGUES.3. USED FOR FACILTY FILE/EQUIPMENT/FURNITURE STORAGE.

    Expenses $664,771 · Revenue $362,000

As filed on the 2024 return.

Listed in Part VII

  • THOMAS A DEE

    PRESIDENT/CEO

    Total calculated
    $806,849
    From this org
    $0
    From related orgs
    $665,360
    Other
    $141,489
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $529,163 related
    Bonus
    $0 + $122,093 related
    Other
    $0 + $14,104 related
    Deferred
    $0 + $108,000 related
    Nontaxable benefits
    $0 + $33,489 related
    Filer's total
    $0 + $806,849 related

  • KEVIN P DAILEY

    SECRETARY

    Total calculated
    $398,980
    From this org
    $0
    From related orgs
    $371,189
    Other
    $27,791
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,328 related
    Bonus
    $0 + $110,254 related
    Other
    $0 + $60,607 related
    Deferred
    $0 + $6,618 related
    Nontaxable benefits
    $0 + $21,173 related
    Filer's total
    $0 + $398,980 related

  • ROBERT LABA

    VP/TREASURER

    Total calculated
    $385,459
    From this org
    $0
    From related orgs
    $381,669
    Other
    $3,790
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $322,700 related
    Bonus
    $0
    Other
    $0 + $58,969 related
    Deferred
    $0 + $3,564 related
    Nontaxable benefits
    $0 + $226 related
    Filer's total
    $0 + $385,459 related

  • STEPHEN KELLY

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • STEPHEN D MAJETICH

    FORMER OFFICER

    Total calculated
    $273,605
    From this org
    $0
    From related orgs
    $273,404
    Other
    $201
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $47,250 related
    Other
    $0 + $226,154 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $201 related
    Filer's total
    $0 + $273,605 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

  • 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

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, LINES 4A-B
MAJETICH - CY24 SEVERANCE PAID THRU JUL 24
PART I, LINE 3
TOP MANAGEMENT OFFICIAL COMPENSATION DETERMINATION: SOUTHWESTERN VERMONT MEDICAL CENTER, A RELATED ORGANIZATION, USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE CEO: INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.
PART I, LINE 4B
CERTAIN INDIVIDUALS LISTED IN SCHEDULE J, PART II PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT. UNDER THE TERMS OF THE PLAN, THE INDIVIDUAL WILL BECOME VESTED IN THE PLAN IF THEY REMAIN EMPLOYED THROUGH A TARGETED DATE PURSUANT TO THE PLAN. NO AMOUNTS VESTED IN CALENDAR YEAR 2024, AND AMOUNTS CREDITED UNDER THE PLAN ARE INCLUDED IN FORM 990, PART VII, SECTION A FOR THE FOLLOWING: THOMAS A. DEE - $100,000

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 corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202602159349300190

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