Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $2,463,035

• 1f · All other contributions, gifts and grants

  $22,832,465

• 1g · Noncash contributions included above

  $4,915,275

• 3 · Investment income

  total $4,144,279 · excluded $4,144,279

• 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

• 7a · Gross sales of assets other than inventory

  securities $8,302,373

• 7c · Gain or loss

  securities $8,302,373

• 7d · Net gain or loss

  total $8,302,373 · excluded $8,302,373

• 8a · Fundraising events: gross income

  $610,225

• 8a · Fundraising events: contributions included on line 1c

  $2,463,035

• 8b · Fundraising events: direct expenses

  $610,225

• 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 $79,777,989 · program services $79,777,989

• 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 $244,137 · management and general $27,680 · fundraising $216,457

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $3,456,121 · management and general $391,855 · fundraising $3,064,266

• 8 · Pension plan contributions

  total $286,210 · management and general $219,454 · fundraising $66,756

• 9 · Other employee benefits

  total $129,809 · management and general $99,532 · fundraising $30,277

• 10 · Payroll taxes

  total $407,413 · management and general $312,388 · fundraising $95,025

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $6,250 · management and general $2,758 · fundraising $3,492

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $283,014 · management and general $124,872 · fundraising $158,142

• 12 · Advertising and promotion

  total $905 · management and general $168 · fundraising $737

• 13 · Office expenses

  total $88,924 · management and general $16,493 · fundraising $72,431

• 14 · Information technology

  total $398,251 · management and general $73,863 · fundraising $324,388

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $10,302 · management and general $1,911 · fundraising $8,391

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $8,430 · management and general $1,564 · fundraising $6,866

• 20 · Interest

  total $0

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $52,564 · fundraising $52,564

• 23 · Insurance

  total $0

• 24a · Other expenses: CHILDREN'S MIRACLE NTWK FEES

  total $301,857 · management and general $55,984 · fundraising $245,873

• 24b · Other expenses: DUES & SUBSCRIPTIONS

  total $69,489 · management and general $12,888 · fundraising $56,601

• 24c · Other expenses: FOOD

  total $12,495 · management and general $2,318 · fundraising $10,177

• 24d · Other expenses: OTHER EXPENSES

  total $61,119 · management and general $11,335 · fundraising $49,784

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $36,365,199 · end of year $36,488,948

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $19,319,392 · end of year $12,740,622

• 4 · Accounts receivable

  beginning of year $0 · end of year $0

• 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

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

  $841,026

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

  $52,564

• 10c · Land, buildings and equipment, net

  beginning of year $841,026 · end of year $788,462

• 11 · Investments: publicly traded securities

  beginning of year $175,741,538 · end of year $151,325,336

• 12 · Investments: other securities

  beginning of year $0 · end of year $0

• 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 $247,373 · end of year $159,216

• 17 · Accounts payable and accrued expenses

  beginning of year $582,212 · end of year $429,567

• 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 $10,443 · end of year $96,859

• 27 · Net assets without donor restrictions

  beginning of year $0 · end of year $0

• 28 · Net assets with donor restrictions

  beginning of year $231,921,873 · end of year $200,976,158

The filer's explanations (Part III)

CORE FORM, PART VII AND SCHEDULE J

TAXABLE COMPENSATION REPORTED HEREIN IS DERIVED FROM 2023 FORMS W-2.

SCHEDULE J, PART I; QUESTION 3

EACH YEAR, AN INDEPENDENT COMPENSATION CONSULTANT CONDUCTS A MARKET ANALYSIS OF CONNECTICUT CHILDREN'S MEDICAL CENTER'S ("CONNECTICUT CHILDREN'S") PRESIDENT/CHIEF EXECUTIVE OFFICER, OFFICERS AND OTHER KEY EMPLOYEES. TO AUGMENT THEIR PROPRIETARY AND OTHER DATA TO WHICH THEY HAVE ACCESS, CONNECTICUT CHILDREN'S PROVIDES THE DATA RESULTS FROM SALARY SURVEYS IN WHICH CONNECTICUT CHILDREN'S PARTICIPATES. THE ANALYSIS AND PRESENTATION OF THE DATA IS PRESENTED BY THE INDEPENDENT COMPENSATION CONSULTANT TO THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND THE MEMBERS OF THE EXECUTIVE COMMITTEE OF THE CONNECTICUT CHILDREN'S BOARD OF DIRECTORS. ANNUALLY THE PRESIDENT/CHIEF EXECUTIVE OFFICER AND THE BOARD OF DIRECTORS THEN REVIEW AND DISCUSS SALARY RECOMMENDATIONS FOR THE OFFICERS AND OTHER KEY EMPLOYEES AND SIGN OFF ON THE FINAL RECOMMENDATIONS. CONNECTICUT CHILDREN'S EXECUTIVE COMMITTEE MEETS INDEPENDENTLY WITH THE PRESIDENT/CHIEF EXECUTIVE OFFICER TO DISCUSS HIS INDIVIDUAL PERFORMANCE. FOLLOWING THE PERFORMANCE EVALUATION, A SALARY RECOMMENDATION IS MADE AND COMMUNICATED TO THE SENIOR VICE PRESIDENT OF HUMAN RESOURCES TO AUTHORIZE PROCESSING.

SCHEDULE J, PART I; QUESTION 4A

THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS DURING CALENDAR YEAR 2023 WHICH WERE INCLUDED IN THEIR 2023 FORM W-2, BOX 5 AS TAXABLE MEDICARE WAGES: David Kinahan, $239,186 AND Mana Zarinejad, $14,050.

SCHEDULE J, PART I; QUESTION 4B

THE AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN B(III) FOR THE FOLLOWING INDIVIDUALS INCLUDES CURRENT YEAR VESTING AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN), AS THE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUAL'S 2023 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES: JAMES E. SHMERLING, DHA, FACHE, $224,136 AND DAVID KINAHAN, $138,545. THE DEFERRED COMPENSATION AMOUNT REFLECTED IN SCHEDULE J, PART II, COLUMN C FOR THE FOLLOWING INDIVIDUAL INCLUDES UNVESTED BENEFITS IN AN INTERNAL REVENUE CODE SECTION 457(F) PLAN (NON-QUALIFIED DEFERRED COMPENSATION PLAN) WHICH ARE SUBJECT TO A SUBSTANTIAL RISK OF COMPLETE FORFEITURE. ACCORDINGLY, THIS INDIVIDUAL MAY NEVER ACTUALLY RECEIVE THIS UNVESTED BENEFIT AMOUNT. THE AMOUNT OUTLINED HEREIN WERE NOT INCLUDED IN THIS INDIVIDUAL'S 2023 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES: BRIDGETT FEAGIN, MBA, $102,257; AND Paulanne Jushkevich, $42,500.

SCHEDULE J, PART I; QUESTIONS 6A & 6B

THE ORGANIZATION IS AN AFFILIATE WITHIN CCMC CORPORATION AND SUBSIDIARIES; A TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM") WHICH INCLUDES CONNECTICUT CHILDREN'S MEDICAL CENTER ("CONNECTICUT CHILDREN'S"). CONNECTICUT CHILDREN'S BOARD OF DIRECTORS HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). ACCORDINGLY, THE COMMITTEE MAY ELECT TO MAKE INCENTIVE AWARDS IN ITS SOLE DISCRETION. IF THE COMMITTEE ELECTS TO MAKE SUCH INCENTIVE AWARDS, THE AMOUNT OF AN ELIGIBLE EMPLOYEE'S INCENTIVE AWARD IS BASED GENERALLY UPON THE FOLLOWING CRITERIA: - CCMC CORPORATION ACHIEVING THRESHOLD FOR THE FINANCIAL GOALS, OTHERWISE NO INCENTIVE WILL BE PAID; - INDIVIDUAL AND CORPORATION PERFORMANCE AND WHETHER THE LEVEL OF PERFORMANCE ACHIEVED IS AT THRESHOLD, TARGET, OR STRETCH; AND - THE PERCENTAGE OF THE AWARD COMPRISED OF CORPORATION VERSUS INDIVIDUAL PERFORMANCE. THE COMPENSATION FOR CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II OF THIS FORM 990 CONSIST OF BOTH A FIXED SALARY AND ADDITIONAL AT-RISK INCENTIVE COMPENSATION.

SCHEDULE J, PART I; QUESTION 7

IF THE COMPENSATION COMMITTEE ELECTS TO MAKE INCENTIVE AWARDS, THESE AWARDS ARE TO BE PAID NO LATER THAN TWO AND ONE-HALF MONTHS AFTER THE END OF THE FISCAL OR CALENDAR YEAR, WHICHEVER IS LATER, AFTER WHICH THE AMOUNT OF SUCH AWARDS ARE DETERMINED. THEREFORE, IN ACCORDANCE WITH THE FORM 990 INSTRUCTIONS, RULES AND REGULATIONS, CERTAIN INDIVIDUALS INCLUDED IN SCHEDULE J, PART II RECEIVED INCENTIVE AWARDS DURING CALENDAR YEAR 2023 WHICH WAS INCLUDED IN COLUMN B(II) HEREIN AND IN EACH INDIVIDUAL'S 2023 FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES. PLEASE REFER TO THIS SECTION OF THE FORM 990, SCHEDULE J FOR THIS INFORMATION BY PERSON BY AMOUNT.

SCHEDULE J, PART II; COLUMN F

THE AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN (F) INCLUDE EMPLOYEE INCENTIVE AWARDS AND/OR VESTED BENEFITS IN A DEFERRED COMPENSATION PLAN AS THESE AMOUNTS WERE NO LONGER SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. THESE AMOUNTS WERE REPORTED AS DEFERRED COMPENSATION ON PRIOR YEARS' FORMS 990 AND ARE NOW BEING REPORTED AGAIN ON THIS YEAR'S FORM 990. THESE AMOUNTS HAVE BEEN TREATED AS TAXABLE INCOME AND REPORTED ON EACH INDIVIDUAL'S FORM W-2, BOX 5, AS TAXABLE MEDICARE WAGES.

Related corporations and trusts

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

• CCMC VENTURES INC

  C CORP. · INACTIVE · CT

  Directly controlled by NA

• NEW ENGLAND PEDIATRICS INDEMNITY LTD

  FOREIGN CORP. · FINANCIAL VEHICLE · BD

  Directly controlled by NA

• NY CHILDREN'S MEDICAL PROVIDER SVCS PC

  C CORP. · HEALTH SERVICES · NY

  Directly controlled by NA