Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Support from Members

  total $4,546,921 · related or exempt $4,546,921

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $483,238 · program services $483,238

• 7 · Other salaries and wages

  total $7,201 · program services $7,201

• 11a · Fees: management

  total $72,485 · program services $72,485

• 11b · Fees: legal

  total $3,050,834 · program services $3,050,834

• 11c · Fees: accounting

  total $53,681 · management and general $53,681

• 11g · Fees: other

  total $868,791 · program services $868,791

• 13 · Office expenses

  total $2,191 · program services $2,191

• 23 · Insurance

  total $8,500 · management and general $8,500

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,836,182 · end of year $1,112,794

• 4 · Accounts receivable

  end of year $775,807

• 17 · Accounts payable and accrued expenses

  beginning of year $496,955 · end of year $1,524,648

• 19 · Deferred revenue

  beginning of year $1,225,209 · end of year $197,849

• 25 · Other liabilities

  beginning of year $114,018 · end of year $166,104

The filer's explanations (Part III)

Part I, Line 3

During the filing period, Gretchen May was paid by President and Fellows of Harvard College (Harvard) from the fees paid by the Members and served as the Longwood Medical Energy Collaborative, Inc. (LMEC) President and Executive Director during the year. Ms. May commenced that role on October 1, 2017, having previously served as a Project Development Director of LMEC since July 2011. At that time, the Executive Committee of LMEC had oversight for LMEC compensation matters. The Executive Committee reviewed and discussed the proposed compensation terms for the position and approved the compensation arrangements for the President and Executive Director. The Executive Committee then recommended the compensation arrangement to the Board of Directors for approval. The Executive Committee and Board of Director deliberations were documented in minutes, and the Board of Directors on behalf of the LMEC Member Organizations also ratified, approved, and confirmed the hiring and compensation of the Executive Director. Since that time, LMEC no longer has an Executive Committee. The process for reviewing and determining Ms. May's compensation is conducted by the Board of Directors as a whole.

Part I, Line 4b

Various individuals included in Form 990, Part VII, participate in or receive payment from a supplemental non-qualified plan sponsored by related organizations. Each individual's participation in those plans arise in their capacity as employees or officers of those related organizations and are not compensation for services rendered to LMEC. Only the individuals mentioned below participated in or received compensation from non-qualified plans. Descriptions of the related-party non-qualified plans are as follows: The Children's Hospital Corporation made contributions to the supplemental non-qualified retirement plan for the individual listed below. Contribution amounts are generally based on a percentage of compensation. Participants of the supplemental executive retirement plan are fully vested. All payments with respect to a participant's separation from service will be made in a single sum following the separation from service unless participant has elected to receive the accrued interest portion of his or her account in three annual installments. Michele Garvin, received in 2023, a contribution of $123,124 Lisa Hogarty, received in 2023, a contribution of $58,941 Beth Israel Lahey Health (BILH) and its affiliates maintain certain supplemental non-qualified retirement plans. During the period covered by this filing, one or more individuals listed below, may have participated in one or more of the following plans, which under the definition to this Form 990 are supplemental nonqualified plans: Beth Israel Deaconess Medical Center Executive Retirement Program and Beth Israel Lahey Health, Inc. Supplemental Executive Retirement Plan. In addition, during the period covered by this filing, one or more individuals listed below may have participated in one or more of these additional IRC 457(b) plans and benefits from participating in one of these plans is also reported in this Form 990: Beth Israel Deaconess Medical Center 457(b) Plan, Beth Israel Lahey Health, Inc. 457(b) Deferred Compensation plan and Harvard Medical Faculty Physicians at Beth Israel Deaconess Medical Center, Inc. 457(b) Deferred Compensation Plan. These plans are non-qualified deferred compensation plans and pursuant to the plans, eligible employees receive certain retirement benefits. Amounts received by participants, deferred by participants and the change in value of the plan benefits related to these participants' accounts are included in Form 990 Schedule J, Part II, Column B(iii), Other Reportable Compensation and/or Form 990, Schedule J, Part II, Column C, Deferred Compensation in accordance with the instructions to this Form 990. During the period covered by this return, there are no individuals who participated in these plans at BIDMC.