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Nonprofiteer
← PAOLI MEMORIAL HOSPITAL FOUNDATION

Form 990 for tax year 2023

Filed by PAOLI MEMORIAL HOSPITAL FOUNDATION.

Totals

Total revenue
$4,356,823
Total expenses
$3,837,898
Contributions and grants received
$3,501,199
Grants paid
$2,613,986
Program service revenue
$0
Investment income
$672,594
Other revenue
$183,030
Total assets, end of year
$28,496,917
Total liabilities, end of year
$39,935
Net assets or fund balances, end of year
$28,456,982
Program services expenses (Part IX)
$2,613,986
Management and general expenses
$155,303
Fundraising expenses
$1,068,609
Program service expenses (Part III)
$2,613,986

Program services were 68.1% 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.

  • 1f · All other contributions, gifts and grants

    $3,501,199

  • 1g · Noncash contributions included above

    $178,335

  • 3 · Investment income

    total $672,594 · excluded $672,594

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $256,644

  • 8b · Fundraising events: direct expenses

    $73,614

  • 8c · Net income from fundraising events

    total $183,030

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,613,986 · program services $2,613,986

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $155,303 · management and general $155,303

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: DEVELOPMENT EXPENSES

    total $1,068,609 · fundraising $1,068,609

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,232,803 · end of year $252,524

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $788,373 · end of year $1,031,383

  • 4 · Accounts receivable

    beginning of year $269 · end of year $19,307

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $4,038,221 · end of year $3,559,223

  • 12 · Investments: other securities

    beginning of year $19,958,181 · end of year $23,634,480

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    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 $882,488 · end of year $300

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $97,654 · end of year $39,635

  • 27 · Net assets without donor restrictions

    beginning of year $16,555,168 · end of year $17,611,730

  • 28 · Net assets with donor restrictions

    beginning of year $9,482,537 · end of year $10,845,252

Mission and programs · 2023

Mission

PROVIDES FUNDRAISING AND DEVELOPMENT ACTIVITIES TO SUPPORT MAIN LINE HOSPITALS, INC. - PAOLI MEMORIAL HOSPITAL.

  • Raised funds and disbursed grants in support of MAIN LINE HOSPITALS, INC. - PAOLI MEMORIAL HOSPITAL IN ACCORDANCE WITH DONOR INTENT; E.G. COMMUNITY EDUCATION, CAPITAL PURCHASES, AND SUPPORT FOR OTHER HOSPITAL PROGRAMS, SUCH AS WOMEN'S HEALTH, ONCOLOGY, AND COMMUNITY HEALTH.

    Expenses $2,613,986 · Grants $2,613,986

As filed on the 2023 return.

Listed in Part VII

  • John J Lynch III

    EX-OFFICIO TRUSTEE

    Total calculated
    $3,006,096
    From this org
    $0
    From related orgs
    $2,587,326
    Other
    $418,770
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,349,781 related
    Bonus
    $0 + $797,068 related
    Other
    $0 + $440,477 related
    Deferred
    $0 + $380,074 related
    Nontaxable benefits
    $0 + $38,696 related
    Filer's total
    $0 + $3,006,096 related

  • Michael J Buongiorno

    TREAS/EX-OFF (UNTIL DEC 2023)

    Total calculated
    $1,254,234
    From this org
    $0
    From related orgs
    $1,210,877
    Other
    $43,357
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $751,055 related
    Bonus
    $0 + $447,453 related
    Other
    $0 + $12,369 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $43,357 related
    Filer's total
    $0 + $1,254,234 related

  • James Paradis

    PRESIDENT & EX-OFFICIO TRUSTEE

    Total calculated
    $979,363
    From this org
    $0
    From related orgs
    $851,919
    Other
    $127,444
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $540,733 related
    Bonus
    $0 + $189,976 related
    Other
    $0 + $121,210 related
    Deferred
    $0 + $87,803 related
    Nontaxable benefits
    $0 + $39,641 related
    Filer's total
    $0 + $979,363 related

  • James Gengaro MD

    EX-OFFICIO TRUSTEE

    Total calculated
    $473,056
    From this org
    $0
    From related orgs
    $421,488
    Other
    $51,568
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $367,374 related
    Bonus
    $0 + $54,114 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $51,568 related
    Filer's total
    $0 + $473,056 related

  • Leigh Ehrlich

    TREAS/EX-OFF (START DEC 2023)

    Total calculated
    $66,905
    From this org
    $0
    From related orgs
    $43,261
    Other
    $23,644
    Hours/week
    1 + 39 related

  • Rocio Gonzalez

    SECRETARY

    Total calculated
    $39,388
    From this org
    $0
    From related orgs
    $34,170
    Other
    $5,218
    Hours/week
    1 + 39 related

  • Christopher Annas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stephen G Aylward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Elaine Rinaldi Bailey

    CHAIRWOMAN & TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sandra K Baldino

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Frank Brewer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bryan Forcino

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Wayne Winthrow

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Thomas Maccrory

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Frank Piliero

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Hewes Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Louis N Teti

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Hoover

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Diederich

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Denise S Hubley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joseph J McLaughlin

    VICE-CHAIRMAN & TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Bucco

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Fried

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Alessandra Nicolas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Judy Molt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kate Murphy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lisa Neff-Ryave

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Marina G Dikos

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael F Swanick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Young Kim MD

    EX-OFFICIO TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Peter Dilullo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steven Higgins

    EX-OFFICIO TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 10 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 4B
NONQUALIFIED RETIREMENT PLAN: THE CEO AND EVP/CFO OF MAIN LINE HEALTH ("PARTICIPANTS") PARTICIPATE IN A NONQUALIFIED RETIREMENT PLAN. MAIN LINE HOSPITALS, INC. PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH A FUNDING ARRANGEMENT KNOWN AS A COLLATERAL ASSIGNMENT SPLIT DOLLAR POLICY. THE PLAN PROVIDES THAT THE SYSTEM WILL PAY PREMIUM PAYMENTS ON A LIFE INSURANCE POLICY FOR EACH OF THE PARTICIPANTS. DURING THE PARTICIPANTS' LIFE, TO THE EXTENT SERVICE AND VESTING REQUIREMENTS ARE FULFILLED, THE PARTICIPANT CAN BORROW AGAINST VALUES IN THE POLICY TO SUPPLEMENT RETIREMENT INCOME. IT IS REASONABLE TO BELIEVE THAT THE LOAN IS PAID IN FULL UPON THE DEATH OF THE PARTICIPANT. FORGIVEN INTEREST INCLUDED IN PARTICIPANTS' EARNINGS ARE: CEO $41,370 EVP/CFO (Michael Buongiorno) $12,369 SERP DISCLOSURE: Main Line Health, Inc. ("MLH") and its Affiliates provided supplemental retirement benefits through established Supplemental Executive Retirement Plans ("SERP") to select members of Senior Leadership in FY24. SERP benefits funded by MLH are subject to vesting and employment date requirements and are paid out at the conclusion of a predetermined performance period. A performance period is a timeframe of at least twelve months that may cover varying lengths of time for each individual employee. Benefits for participants vested in a plan were reported in Schedule J, Part II, Column (B) (III) and benefits for participants not yet vested in a plan were reported in Schedule J, Part II, Column (C).
FORM 990, SCHEDULE J, PART I, LINE 7
THE COMPENSATION OF THE CEO, EVP & CHIEF FINANCIAL OFFICER, HOSPITAL PRESIDENTS, AND OTHER SENIOR EXECUTIVES DID INCLUDE A NON-FIXED COMPONENT PAYMENT OF COMPENSATION BASED UPON PRE-ESTABLISHED QUALITY, PATIENT SAFETY, AND FINANCIAL TARGETS ESTABLISHED AT THE BEGINNING OF THE FISCAL YEAR. THE HUMAN RESOURCES AND COMPENSATION COMMITTEE OF THE MAIN LINE HEALTH BOARD IS RESPONSIBLE FOR EVALUATING AND DETERMINING THE APPROPRIATENESS OF THE TARGETS. AFTER REVIEW AND DELIBERATION, THE COMMITTEE DOCUMENTS ITS DECISIONS AND REPORTS TO THE FULL BOARD OF GOVERNORS WHO REVIEW THE COMPENSATION DECISIONS. PAYMENTS ARE MADE TO THE APPROPRIATE INDIVIDUALS BY THE ORGANIZATION WITHIN WHICH THOSE INDIVIDUALS RESIDE FOR PAYROLL REPORTING PURPOSES.

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

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.

  • BMHR ASSOCIATES

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • MAIN LINE HEALTH IMAGING LP

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • RIDDLE SURGICAL CENTER LLC

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • ACCOUNTABLE CARE ORGANIZATION OF PA LLC

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • BRYN MAWR SURGERY CENTER LLC

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • 120 VALLEY GREEN LANE LLC

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • MUVE - WEST CHESTER LLC

    N/A · HEALTHCARE · KS · share of income $0 · share of assets $0

    Directly controlled by NA

  • PAOLI SURGERY CENTER LLC

    N/A · HEALTHCARE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

Related corporations and trusts

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

  • MAIN LINE CORPORATION

    C CORPORATION · INACTIVE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

  • MOUNTAIN LAUREL RISK RETENTION GROUP

    C CORPORATION · INSURANCE · VT · share of income $0 · share of assets $0

    Directly controlled by NA

  • RIDDLE HEALTH NETWORK LLC

    C CORPORATION · INACTIVE · PA · share of income $0 · share of assets $0

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202511339349308986

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