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Nonprofiteer
← PARK COURT LIMITED

Form 990 for tax year 2023

Filed by PARK COURT LIMITED.

Totals

Total revenue
$1,569,702
Total expenses
$1,392,233
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,569,636
Investment income
$66
Other revenue
$0
Total assets, end of year
$21,351,943
Total liabilities, end of year
$3,969,506
Net assets or fund balances, end of year
$17,382,437
Program services expenses (Part IX)
$1,390,890
Management and general expenses
$1,343
Fundraising expenses
$0
Program service expenses (Part III)
$1,390,890

Program services were 99.9% 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: RENTAL INCOME

    total $1,569,636 · related or exempt $1,569,636

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $60 · excluded $60

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    other assets $6

  • 7c · Gain or loss

    securities $0 · other assets $6

  • 7d · Net gain or loss

    total $6 · excluded $6

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $265,924 · program services $265,742 · management and general $182 · fundraising $0

  • 13 · Office expenses

    total $32,330 · program services $31,171 · management and general $1,159

  • 16 · Occupancy

    total $310,153 · program services $310,153

  • 20 · Interest

    total $137,315 · program services $137,315

  • 22 · Depreciation, depletion and amortization

    total $646,509 · program services $646,509

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $2 · management and general $2

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $29,602 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $22,490 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $114,139

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,772,685 · end of year $0

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

    $19,926,411

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

    $548,756

  • 10c · Land, buildings and equipment, net

    beginning of year $17,077,319 · end of year $19,377,655

  • 11 · Investments: publicly traded securities

    beginning of year $15,599 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $1,860,149

  • 17 · Accounts payable and accrued expenses

    beginning of year $141,663 · end of year $5,025

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $21,263,563 · end of year $3,964,481

  • 27 · Net assets without donor restrictions

    beginning of year -$2,487,531 · end of year $17,382,437

Mission and programs · 2023

Mission

TO IMPROVE THE HEALTH AND WELL-BEING OF OUR COMMUNITY AND TO DO SO WITH LOVE, COMPASSION, AND EXTRAORDINARY MEDICAL CARE.

Activities or mission (Part I)

Improve health and well-being of community with love, compassion and extraordinary medical care.

  • Park Court Limited endeavors to participate in system-wide planning to support, preserve, and nurture the fundamental mission of Pekin Hospital, as a community hospital, and other facilities as necessary to provide inpatient and outpatient diagnostic, therapeutic, and educational services. Organized for charitable, scientific, and educational purposes, to establish, acquire, support, erect, maintain, own, operate and manage properties and facilities in relation to or associated with the delivery of health care diagnostic and treatment services, education and research, by or through its related or affiliated organizations.

    Expenses $1,390,890 · Revenue $1,569,636

As filed on the 2023 return.

Listed in Part VII

  • DEBBIE SIMON

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • JAMES STEVENSON

    Vice Chair

    Total calculated
    $3,625
    From this org
    $0
    From related orgs
    $3,625
    Other
    $0
    Hours/week
    1 + 11 related

  • JOHN WIELAND MD

    Chair

    Total calculated
    $686,902
    From this org
    $0
    From related orgs
    $653,588
    Other
    $33,314
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $564,563 related
    Bonus
    $0 + $64,312 related
    Other
    $0 + $24,713 related
    Deferred
    $0 + $6,600 related
    Nontaxable benefits
    $0 + $26,714 related
    Filer's total
    $0 + $686,902 related

  • KEITH KNEPP MD

    Trustee // Officer - President, Carle Health - West Region

    Total calculated
    $1,672,937
    From this org
    $0
    From related orgs
    $1,628,845
    Other
    $44,092
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $606,605 related
    Bonus
    $0 + $173,515 related
    Other
    $0 + $848,725 related
    Deferred
    $0 + $17,461 related
    Nontaxable benefits
    $0 + $26,631 related
    Filer's total
    $0 + $1,672,937 related

  • DENNIS TRIGGS JD

    Trustee

    Total calculated
    $3,625
    From this org
    $0
    From related orgs
    $3,625
    Other
    $0
    Hours/week
    0.5 + 4.5 related

  • DIRK ROECKER

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • DENNIS HESCH

    Officer - EVP, Chief Finance & Strategy Officer

    Total calculated
    $1,762,884
    From this org
    $0
    From related orgs
    $1,395,995
    Other
    $366,889
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,104,200 related
    Bonus
    $0 + $262,608 related
    Other
    $0 + $29,187 related
    Deferred
    $0 + $346,286 related
    Nontaxable benefits
    $0 + $20,603 related
    Filer's total
    $0 + $1,762,884 related

  • JAMES C LEONARD MD

    Officer - President & CEO

    Total calculated
    $5,726,886
    From this org
    $0
    From related orgs
    $5,690,001
    Other
    $36,885
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,690,975 related
    Bonus
    $0 + $443,047 related
    Other
    $0 + $3,555,979 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $20,385 related
    Filer's total
    $0 + $5,726,886 related

  • JOHN PETERS

    Chief Finance Officer

    Total calculated
    $339,225
    From this org
    $0
    From related orgs
    $314,895
    Other
    $24,330
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,222 related
    Bonus
    $0 + $83,782 related
    Other
    $0 + $17,891 related
    Deferred
    $0 + $11,390 related
    Nontaxable benefits
    $0 + $12,940 related
    Filer's total
    $0 + $339,225 related

  • KEN DICKEN MBA

    VP, Finance - West Region

    Total calculated
    $274,455
    From this org
    $0
    From related orgs
    $262,860
    Other
    $11,595
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $251,128 related
    Bonus
    $0 + $10,000 related
    Other
    $0 + $1,732 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,595 related
    Filer's total
    $0 + $274,455 related

  • MATTHEW KOLB JD MHA

    Officer - President, Carle Health Regions // EVP, Chief Operating Officer

    Total calculated
    $1,930,637
    From this org
    $0
    From related orgs
    $1,567,332
    Other
    $363,305
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,092,613 related
    Bonus
    $0 + $219,047 related
    Other
    $0 + $255,672 related
    Deferred
    $0 + $335,494 related
    Nontaxable benefits
    $0 + $27,811 related
    Filer's total
    $0 + $1,930,637 related

  • NICHOLAS CROMPTON

    VP, Construction & Facility Services

    Total calculated
    $432,431
    From this org
    $0
    From related orgs
    $364,372
    Other
    $68,059
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $291,871 related
    Bonus
    $0 + $30,843 related
    Other
    $0 + $41,658 related
    Deferred
    $0 + $37,180 related
    Nontaxable benefits
    $0 + $30,879 related
    Filer's total
    $0 + $432,431 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE BOARD OF TRUSTEES OF THE CARLE FOUNDATION, THE PARENT ORGANIZATION OF PARK COURT LIMITED, THROUGH ITS COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT MEMBERS FREE OF CONFLICT, ANNUALLY REVIEWS EXECUTIVE COMPENSATION LEVELS AND ESTABLISHES APPROPRIATE SALARY RANGES AND OTHER FEATURES OF THE COMPENSATION PLAN IN ACCORDANCE WITH THE ORGANIZATION'S APPROVED COMPENSATION PHILOSOPHY AND STRATEGY: - THE COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES; WHO ARE INDEPENDENT OF THE CARLE FOUNDATION MANAGEMENT; HAVE NO PERSONAL INTEREST IN THE COMPENSATION ARRANGEMENTS; ARE NOT RELATED TO, OR UNDER THE CONTROL OF ANY INDIVIDUAL WHOSE COMPENSATION ARRANGEMENT IS BEING REVIEWED; AND HAVE NO MATERIAL BUSINESS RELATIONSHIP WITH THE CARLE FOUNDATION. - THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE IN RELATION TO THE APPROPRIATE COMPARABILITY DATA. COMPENSATION FOR OTHER MEMBERS OF THE EXECUTIVE STAFF IS DEVELOPED BY THE CEO, EVALUATED AGAINST MARKET DATA, AND REVIEWED AND APPROVED BY THE COMMITTEE. - THE COMMITTEE APPROVES ALL ANNUAL COMPENSATION DECISIONS IN ADVANCE OF THEIR IMPLEMENTATION AND DOCUMENTS ITS DETERMINATIONS AND DISCUSSIONS. - THE COMPENSATION COMMITTEE RELIES UPON A NUMBER OF EXTERNAL RESOURCES AND COMPARISONS, AND ITS ANALYSIS INCLUDES TOTAL COMPENSATION (CASH COMPENSATION PLUS BENEFITS PROVIDED BY THE CARLE FOUNDATION) IN RELATION TO ORGANIZATIONAL PERFORMANCE AND PREVAILING INDUSTRY PRACTICES FOR LIKE RESPONSIBILITIES AT COMPARABLY SIZED ORGANIZATIONS. THE COMMITTEE HAS ENGAGED THE SERVICES OF A COMPENSATION CONSULTING FIRM SPECIALIZING IN THE NOT-FOR-PROFIT SECTOR WHICH HAS WORKED WITH THE CARLE FOUNDATION AND MAKES ITS REPORTS DIRECTLY AVAILABLE TO THE COMPENSATION COMMITTEE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE 2023 PARTICIPANTS IN THE 457(F) PLAN OFFERED BY THE CARLE FOUNDATION, THE PARENT ORGANIZATION OF PARK COURT LIMITED, THAT ARE LISTED IN THE 990 PART VII INCLUDE DENNIS HESCH, JAMES C. LEONARD, MD, MATTHEW KOLB, JD, MHA, AND KEITH KNEPP, MD. IN 2023, PAYMENTS FROM THE 457(F) PLAN WERE MADE TO JAMES C. LEONARD, MD ($3,526,792), MATTHEW KOLB, JD, MHA ($226,485), AND KEITH KNEPP, MD ($519,694).

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349319120

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