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Nonprofiteer
← SVHC REALTY INC

Form 990 for tax year 2022

Filed by SVHC REALTY INC.

Totals

Total revenue
$222,950
Total expenses
$1,065,012
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$12,950
Other revenue
$210,000
Total assets, end of year
$4,737,674
Total liabilities, end of year
$1,228,650
Net assets or fund balances, end of year
$3,509,024
Program services expenses (Part IX)
$951,990
Management and general expenses
$113,022
Fundraising expenses
$0
Program service expenses (Part III)
$951,990

Program services were 89.4% 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.

  • 6a · Gross rents

    real property $210,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $210,000

  • 6d · Net rental income or loss

    total $210,000 · excluded $210,000

  • 7a · Gross sales of assets other than inventory

    other assets $12,950

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

    other assets $0

  • 7c · Gain or loss

    other assets $12,950

  • 7d · Net gain or loss

    total $12,950 · excluded $12,950

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $214,001 · program services $213,165 · management and general $836

  • 9 · Other employee benefits

    total $51,025 · program services $51,025

  • 11b · Fees: legal

    total $43,409 · management and general $43,409

  • 11c · Fees: accounting

    total $401 · management and general $401

  • 11g · Fees: other

    total $82,273 · program services $62,273 · management and general $20,000

  • 13 · Office expenses

    total $16,285 · program services $16,285

  • 16 · Occupancy

    total $179,212 · program services $179,212

  • 17 · Travel

    total $131 · program services $131

  • 20 · Interest

    total $48,376 · management and general $48,376

  • 22 · Depreciation, depletion and amortization

    total $272,486 · program services $272,486

  • 23 · Insurance

    total $157,413 · program services $157,413

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $5,289,177

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

    $551,503

  • 10c · Land, buildings and equipment, net

    beginning of year $4,395,879 · end of year $4,737,674

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,377 · end of year $52,921

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $511,088

  • 25 · Other liabilities

    beginning of year $20,416 · end of year $664,641

  • 27 · Net assets without donor restrictions

    beginning of year $4,351,086 · end of year $3,509,024

Mission and programs · 2022

Mission

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

Activities or mission (Part I)

SEE SCHEDULE O

  • ACTIVITIES: 1. OPERATION OF A COVID-19 VACCINATION AND TESTING RESOURCE CENTER.2. OPEARTION OF A PFOA TESTING RESOURCE CENTER3. ARRANGING FOR AN AGREEMENT WITH THE TOWN OF BENNINGTON, VERMONT WHERE THE TOWN IS ALLOWED TO USE THE ATHLETIC FIELDS ON THE PROPERTY FOR PUBLIC USE IN VARIOUS RECREATION LEAGUES.4. THERE IS THE POTENTIAL TO LOCATE VARIOUS MEDICAL CLINICS AND/OR CHILD CARE FACILITIES OPERATED BY SVHC TO THE PROPERTY OWNED BY THE CORPORATION (THE PROPERTY OWNED IS WITHIN A 1/4 MILE OF THE MAIN HOSPITAL CAMPUS).

    Expenses $951,990

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Thomas A Dee

    PRESIDENT/CEO

    Total calculated
    $1,747,038
    From this org
    $0
    From related orgs
    $1,408,657
    Other
    $338,381
    Hours/week
    1 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $440,049 related
    Bonus
    $0
    Other
    $0 + $968,608 related
    Deferred
    $0 + $308,992 related
    Nontaxable benefits
    $0 + $29,389 related
    Filer's total
    $0 + $1,747,038 related

  • Kevin P Dailey

    SECRETARY

    Total calculated
    $468,207
    From this org
    $0
    From related orgs
    $390,516
    Other
    $77,691
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,496 related
    Bonus
    $0 + $54,000 related
    Other
    $0 + $56,020 related
    Deferred
    $0 + $55,791 related
    Nontaxable benefits
    $0 + $21,900 related
    Filer's total
    $0 + $468,207 related

  • Richard Ader

    CHAIR (THRU 9/23)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Kathleen Fisher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Stephen Kelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Stephen D Majetich

    CFO/TREASURER

    Total calculated
    $935,831
    From this org
    $0
    From related orgs
    $787,033
    Other
    $148,798
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $397,656 related
    Bonus
    $0 + $77,500 related
    Other
    $0 + $311,877 related
    Deferred
    $0 + $120,012 related
    Nontaxable benefits
    $0 + $28,786 related
    Filer's total
    $0 + $935,831 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)

PART I, LINE 3
TOP MANAGEMENT OFFICIAL COMPENSATION DETERMINATION: SOUTHWESTERN VERMONT MEDICAL CENTER, A RELATED ORGANIZATION, USES THE FOLLOWING TO ESTABLISH THE COMPANSTAION OF THE CEO, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD.
PART I, LINE 4B
CERTAIN LISTED INDIVIDUALS PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION ARRANGEMENT IN CALENDAR YEAR 2022. UNDER THE TERMS OF THE PLAN, THE INDIVIDUAL BECOMES VESTED IF THEY REMAINED EMPLOYED THROUGH A TARGETED DATE OF THE PLAN. AMOUNTS VESTED IN THE PLAN DURING THE REPORTING PERIOD ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). AMOUNTS SUBJECT TO VESTED REQUIREMENTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C) AND INCLUDED BELOW. - THOMAS A. DEE: $300,992 - STEPHEN D. MAJETICH: $112,012 - KEVIN P. DAILEY: $47,791

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.

  • SOUTHWESTERN VT HEALTHCARE ENTERPRISE

    C · HEALTH CARE · VT · 100% owned · share of assets $588,000 · controlled entity

    Directly controlled by SVHC REALTY

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202412279349303226

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