Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $546,769

• 1e · Government grants (contributions)

  $111,467

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $11,437,881 · related or exempt $11,437,881

• 2f · All other program service revenue

  total $22 · related or exempt $22

• 3 · Investment income

  total $43,857 · excluded $43,857

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $404,269 · program services $363,842 · management and general $40,427

• 7 · Other salaries and wages

  total $7,803,421 · program services $5,711,810 · management and general $2,091,611

• 8 · Pension plan contributions

  total $79,756 · management and general $79,756

• 9 · Other employee benefits

  total $748,904 · program services $731,968 · management and general $16,936

• 10 · Payroll taxes

  total $485,201 · program services $426,386 · management and general $58,815

• 11a · Fees: management

  total $681,267 · management and general $681,267

• 11b · Fees: legal

  total $12,151 · management and general $12,151

• 11c · Fees: accounting

  total $42,774 · management and general $42,774

• 11g · Fees: other

  total $230,531 · program services $200,159 · management and general $30,372

• 12 · Advertising and promotion

  total $135,086 · program services $122,042 · management and general $13,044

• 13 · Office expenses

  total $50,660 · program services $4,526 · management and general $46,134

• 14 · Information technology

  total $13,786 · management and general $13,786

• 16 · Occupancy

  total $289,411 · program services $61,523 · management and general $227,888

• 17 · Travel

  total $18,722 · program services $17,078 · management and general $1,644

• 19 · Conferences, conventions and meetings

  total $1,591 · program services $921 · management and general $670

• 20 · Interest

  total $2,307 · management and general $2,307

• 22 · Depreciation, depletion and amortization

  total $379,057 · program services $176,499 · management and general $202,558

• 24a · Other expenses: DIRECT PATIENT EXPENSES

  total $1,367,707 · program services $1,367,028 · management and general $679

• 24b · Other expenses: DUES & SUBSCRIPTIONS

  total $66,275 · program services $21,027 · management and general $45,248

• 24c · Other expenses: BAD DEBT

  total $12,939 · program services $12,939

• 24d · Other expenses: CONTINUING EDUCATION

  total $6,557 · program services $6,557

• 24e · All other expenses

  total $74,121 · program services $61,203 · management and general $12,918

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,921,823 · end of year $2,924,934

• 4 · Accounts receivable

  beginning of year $1,776,866 · end of year $1,592,183

• 9 · Prepaid expenses and deferred charges

  beginning of year $32,975 · end of year $47,895

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

  $7,670,803

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

  $4,145,908

• 10c · Land, buildings and equipment, net

  beginning of year $3,707,029 · end of year $3,524,895

• 11 · Investments: publicly traded securities

  beginning of year $1,683,286 · end of year $1,687,136

• 15 · Other assets

  beginning of year $323,833 · end of year $632,098

• 17 · Accounts payable and accrued expenses

  beginning of year $997,769 · end of year $943,541

• 25 · Other liabilities

  beginning of year $186,441 · end of year $273,801

• 27 · Net assets without donor restrictions

  beginning of year $10,261,602 · end of year $9,191,799

The filer's explanations (Part III)

PART I, LINE 3

FOR COMPENSATION PAID TO OFFICERS FROM A RELATED TAX-EXEMPT ENTITY, THE ORGANIZATION RELIED ON THE RELATED ORGANIZATION THAT USED ONE OR MORE OF THESE METHODS TO ESTABLISH THE COMPENSATION OF THOSE OFFICERS.

PART I, LINE 4B

CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION, ESTABLISHED A SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR THE EXCLUSIVE BENEFIT OF CERTAIN EXECUTIVES. FUNDS ARE SUBJECT TO RISK OF FORFEITURE BY PLAN PARTICIPANTS AND ARE AVAILABLE TO THE CREDITORS OF CARE SYNERGY. IN ACCORDANCE WITH THE BOARD OF DIRECTORS' INTENT, CARE SYNERGY WILL FUND INDIVIDUAL PARTICIPANT ACCOUNTS THROUGH INVESTMENT OPTIONS DIRECTED BY THE PARTICIPANTS. THE DEFERRED COMPENSATION PLAN IS PARTIALLY FUNDED, AND CARE SYNERGY REPORTS THE DEFERRALS AND RELATED FUNDING IN ACCRUED EXPENSES AND INVESTMENTS, RESPECTIVELY, IN THE BALANCE SHEET. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2022, FOR WHICH THE EXPENSE WAS INCURRED BY THE SPONSORING ORGANIZATIONS, BUT THE FUNDS HAVE NOT VESTED OR BEEN PAID OUT TO THESE INDIVIDUALS AND AS SUCH, ARE NOT INCLUDED IN THE AMOUNTS ON SCHEDULE J, PART II: TIM BOWEN (CARE SYNERGY CEO): $161,442 PAUL TOSETTI (CARE SYNERGY CFO): $44,788 DAWN DARVALICS (PIKES PEAK HOSPICE PRESIDENT): $38,564 DURING CALENDAR YEAR 2022 DAWN DARVALICS RECEIVED A PAYMENT OF $83,176 FROM THE 457(F) PLAN. THE PAYMENT IS INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 7

THE ORGANIZATION AND THE COMPENSATION COMMITTEE OF CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION, ANNUALLY REVIEWS THE PERFORMANCES OF THE EXECUTIVE STAFF AND OTHER STAFF TO DETERMINE IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES WILL BE PAID. THE DETERMINATION OF BONUSES IS BASED ON ACHIEVEMENT OF CERTAIN METRICS INCLUDED IN OVERALL STRATEGIC OBJECTIVES INCLUDING FINANCIAL PERFORMANCE, PATIENT CENSUS GROWTH, AND QUALITY RATINGS. DURING CALENDAR YEAR ENDED DECEMBER 31, 2022, THE ORGANIZATION AND/OR CARE SYNERGY AWARDED THE CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, PRESIDENT, DIRECTOR OF BUSINESS DEVELOPMENT, PHYSICIANS, AND DIRECTOR OF CLINICAL SERVICES A BONUS BASED ON REVIEW OF THEIR PERFORMANCES AND SERVICES TO THE ORGANIZATION.

SCHEDULE J, PART II:

THE COMPENSATION PAID TO THE DIRECTOR/CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER IS PAID FOR BY CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION. CARE SYNERGY'S COMPENSATION COMMITTEE ENGAGES AN INDEPENDENT THIRD-PARTY COMPENSATION AND BENEFITS CONSULTANT TO CONDUCT A MARKET ANALYSIS, WHICH INCLUDES COMPARISONS OF SIMILARLY SIZED HOSPICES AND OTHER HEALTHCARE ORGANIZATIONS, TO DETERMINE COMPENSATION AMOUNTS FOR THESE INDIVIDUALS.

SCHEDULE J, PART II:

THE COMPENSATION PAID TO THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER IS PAID FOR BY CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION. IN ADDITION TO PROVIDING SERVICES TO PIKES PEAK HOSPICE AND PALLIATIVE CARE, INC., TOP MANAGEMENT OFFICIALS LISTED ABOVE ALSO PROVIDE SERVICES IN THEIR RESPECTIVE POSITIONS TO OTHER RELATED TAX-EXEMPT ORGANIZATIONS. THE AMOUNTS REPORTED ON FORM 990, PART VII, SECTION A REPRESENT COMPENSATION AND BENEFITS PAID TO THESE INDIVIDUALS FOR THEIR SERVICES TO THE FILING ORGANIZATION AS WELL AS OTHER TAX-EXEMPT ORGANIZATIONS.