Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $141,648

• 1g · Noncash contributions included above

  $22,716

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $18,150,928 · related or exempt $18,150,928

• 3 · Investment income

  total $94,547 · excluded $94,547

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $14,964,283 · program services $11,148,732 · management and general $3,815,551

• 8 · Pension plan contributions

  total $278,631 · program services $249,738 · management and general $28,893

• 9 · Other employee benefits

  total $1,424,655 · program services $1,173,808 · management and general $250,847

• 10 · Payroll taxes

  total $832,626 · program services $746,291 · management and general $86,335

• 11b · Fees: legal

  total $48,789 · management and general $48,789

• 11c · Fees: accounting

  total $35,706 · program services $25,349 · management and general $10,357

• 11d · Fees: lobbying

  total $4,897 · management and general $4,897

• 11g · Fees: other

  total $1,630,348 · program services $177,660 · management and general $1,452,688

• 12 · Advertising and promotion

  total $94 · management and general $94

• 13 · Office expenses

  total $757,349 · program services $738,143 · management and general $19,206

• 14 · Information technology

  total $25,639 · program services $25,639

• 16 · Occupancy

  total $444,324 · management and general $444,324

• 17 · Travel

  total $6,564 · program services $4,448 · management and general $2,116

• 20 · Interest

  total $48,562 · program services $34,383 · management and general $14,179

• 22 · Depreciation, depletion and amortization

  total $417,562 · program services $295,646 · management and general $121,916

• 23 · Insurance

  total $46,585 · management and general $46,585

• 24a · Other expenses: PROVIDER TAX

  total $482,114 · program services $341,351 · management and general $140,763

• 24b · Other expenses: MEDICAL SUPPLIES

  total $430,094 · program services $430,094

• 24c · Other expenses: MED. SERV. AFFILIATED

  total $122,124 · program services $122,124

• 24d · Other expenses: NON CONTRACT MAITNANCE

  total $69,209 · program services $23,817 · management and general $45,392

• 24e · All other expenses

  total $138,272 · program services $95,435 · management and general $42,837

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,002 · end of year $1,002

• 2 · Savings and temporary cash investments

  beginning of year $2,776,927 · end of year $1,711,529

• 3 · Pledges and grants receivable

  beginning of year $114,856 · end of year $47,211

• 4 · Accounts receivable

  beginning of year $5,313,525 · end of year $2,252,548

• 8 · Inventories for sale or use

  beginning of year $21,217 · end of year $35,077

• 9 · Prepaid expenses and deferred charges

  beginning of year $102,693 · end of year $214,651

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

  $14,697,608

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

  $7,083,540

• 10c · Land, buildings and equipment, net

  beginning of year $5,701,349 · end of year $7,614,068

• 11 · Investments: publicly traded securities

  beginning of year $27,388 · end of year $38,318

• 15 · Other assets

  beginning of year $58,751 · end of year $56,750

• 17 · Accounts payable and accrued expenses

  beginning of year $1,371,595 · end of year $31,514,553

• 20 · Tax-exempt bond liabilities

  beginning of year $1,907,590 · end of year $1,742,926

• 25 · Other liabilities

  beginning of year $28,125,538 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year -$18,748,224 · end of year -$21,494,768

• 28 · Net assets with donor restrictions

  beginning of year $1,461,209 · end of year $208,443

The filer's explanations (Part III)

PART I, LINE 3

HELEN PORTER NURSING HOME RELIED ON THE UNIVERSITY OF VERMONT HEALTH NETWORK ("UVM HEALTH NETWORK"), PARENT OF ITS PARENT ORGANIZATION, PORTER MEDICAL CENTER, TO ESTABLISH SENIOR EXECUTIVE COMPENSATION. UVM HEALTH NETWORK UTILIZED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

PART I, LINES 4A-B

PORTER MEDICAL CENTER PRESIDENT & COO TOM THOMPSON ENTERED INTO AN AGREEMENT EFFECTIVE 10/2023 UNDER WHICH HE RECEIVED 6 MONTHS CONTINUATION OF BASE SALARY. PAYMENTS MADE UNDER THIS AGREEMENT WERE MADE IN THE 2024 CALENDAR YEAR AND ARE THEREFORE INCLUDED IN THE AMOUNTS REPORTED HEREIN. PORTER MEDICAL CENTER (PARENT ORGANIZATION OF HELEN PORTER NURSING HOME) DIRECTOR OF NURSING SHEILLAGH CAMPIONE ENTERED INTO AN AGREEMENT EFFECTIVE 7/2024 UNDER WHICH SHE RECEIVED 18 WEEK CONTINUATION OF BASE SALARY,AND CONTINUATION OF CERTAIN MEDICAL BENEFITS. PAYMENTS MADE UNDER THIS AGREEMENT WERE IN THE 2024 CALENDAR YEAR AND ARE THEREFORE INCLUDED IN THE AMOUNTS REPORTED HEREIN. SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN THE UNIVERSITY OF VERMONT HEALTH NETWORK MAINTAINS A SUPPLEMENTAL RETIREMENT BENEFIT PLAN (SRP) FOR CERTAIN EMPLOYEES AT ANY NETWORK ENTITY UNDER CONTRACTUAL ARRANGEMENT WITH SEVERAL PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. PURSUANT TO THE TERMS OF THE SRP, ANNUAL CREDITS WERE MADE EQUAL TO A FIXED PERCENTAGE OF BASE SALARY. THE FOLLOWING PERSONS PARTICIPATED IN THE SRP IN CALENDAR YEAR 2024, AND THEIR RESPECTIVE FIXED PERCENTAGE IS DESIGNATED IN PARENTHESES: BOB ORTMYER (6.42%). DEFERRED AMOUNTS VEST ON THE EARLIER OF: (I) JANUARY 1 OF THE THIRD PLAN YEAR AFTER THE PLAN YEAR FOR WHICH THE ACCOUNT WAS CREATED; OR (II) THE PARTICIPANT'S 65TH BIRTHDAY. BOB ORTMYER RECEIVED SRP DISTRIBUTIONS REFLECTED IN SCH J, PART II, COL (B)(III) AND (F). AMOUNTS DEFERRED DURING CALENDAR YEAR 2024 ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. AMOUNTS DEFERRED REMAIN SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET.

PART I, LINE 7

HELEN PORTER NURSING HOME PAID AWARDS TO CERTAIN MEMBERS OF UPPER MANAGEMENT (OFFICERS, VICE PRESIDENTS, PHYSICIAN CHAIRS AND SENIOR EXECUTIVES) THROUGH ITS ANNUAL VARIABLE PAY PLAN AS THE PLAN'S PERFORMANCE MEASURES WERE MET. THE MEASURES WERE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THESE MEASURES INCLUDED FINANCIAL, POPULATION HEALTH & QUALITY, AND OPERATIONAL RELATED METRICS. ADDITIONALLY, CERTAIN EMPLOYEES OF THE ORGANIZATION WERE ELIGIBLE TO RECEIVE DISCRETIONARY BONUSES FOR RETENTION AND TAKING ON EXTRA RESPONSIBILITIES.

PART I, LINE 8

SALARIES AND OTHER FIXED AMOUNTS PAYABLE TO EXECUTIVES SUCH AS OFFICERS AND CERTAIN KEY EMPLOYEES ARE SET BY CONTRACTS THAT ARE NEGOTIATED AND ENTERED INTO PRIOR TO THE COMMENCEMENT OF EACH EXECUTIVES' EMPLOYMENT. THE TERMS OF SUCH CONTRACTS ARE APPROVED IN ADVANCE BY THE APPROPRIATE COMPENSATION COMMITTEE OR OTHER BOARD-AUTHORIZED BODY, WHICH OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING SUCH OFFER, AND CONCURRENTLY DOCUMENTS ITS BASIS FOR DETERMINATION.

Related corporations and trusts

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

• UVMHN VENTURES INC

  C · HOLDING COMPANY · VT · controlled entity

• UVMHN CREDENTIALING & ENROLLMENT

  C · ADMIN SVC · VT · controlled entity

• CHARITABLE REMAINDER TRUSTS (6)

  T · SUPPORT · VT · controlled entity

• PERPETUAL TRUSTS (10)

  T · SUPPORT · VT · controlled entity

• CHARITABLE IRREVOCABLE TRUSTS (8)

  T · SUPPORT · VT · controlled entity

• CHAMPLAIN VALLEY HEALTH NETWORK

  C · ADMIN SVC · NY · controlled entity

• MEDIQUEST INC

  C · MED OFFICE LEASE · NY · controlled entity