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Nonprofiteer
← THE ST FRANCIS HOSPITAL FOUNDATION INC

Form 990 for tax year 2023

Filed by THE ST FRANCIS HOSPITAL FOUNDATION INC.

Totals

Total revenue
$34,576,617
Total expenses
$12,854,993
Contributions and grants received
$11,506,667
Grants paid
$10,825,580
Program service revenue
$0
Investment income
$23,127,563
Other revenue
-$57,613
Total assets, end of year
$259,821,795
Total liabilities, end of year
$15,499,712
Net assets or fund balances, end of year
$244,322,083
Program services expenses (Part IX)
$10,825,580
Management and general expenses
$1,889,559
Fundraising expenses
$139,854
Program service expenses (Part III)
$10,825,580

Program services were 84.2% 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.

  • 1c · Fundraising events

    $755,199

  • 1f · All other contributions, gifts and grants

    $10,751,468

  • 3 · Investment income

    total $23,399,329 · excluded $23,399,329

  • 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 $142,314,027

  • 7b · Less cost or other basis and sales expenses

    securities $142,585,793

  • 7c · Gain or loss

    securities -$271,766

  • 7d · Net gain or loss

    total -$271,766 · excluded -$271,766

  • 8a · Fundraising events: gross income

    $311,605

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

    $755,199

  • 8b · Fundraising events: direct expenses

    $369,218

  • 8c · Net income from fundraising events

    total -$57,613 · excluded -$57,613

  • 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 $10,825,580 · program services $10,825,580

  • 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 $0

  • 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 $614,955 · management and general $475,101 · fundraising $139,854

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $1,633 · management and general $1,633

  • 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: PURCHSD SERV-SALARIES

    total $1,096,147 · management and general $1,096,147

  • 24b · Other expenses: PURCHSD SERV-EXPENSES

    total $316,520 · management and general $316,520

  • 24c · Other expenses: OTHER

    total $158 · management and general $158

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,658,684 · end of year $8,219,408

  • 3 · Pledges and grants receivable

    beginning of year $12,069,287 · end of year $11,248,137

  • 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 $19,848 · end of year $106,660

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $210,618,315 · end of year $240,247,590

  • 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 $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $239,279 · end of year $137,126

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $201,462 · end of year $256,462

  • 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 $7,105,431 · end of year $15,106,124

  • 27 · Net assets without donor restrictions

    beginning of year $141,435,519 · end of year $158,723,551

  • 28 · Net assets with donor restrictions

    beginning of year $75,384,443 · end of year $85,598,532

Mission and programs · 2023

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

WE, AT CH, HUMBLY JOIN TOGETHER TO BRING CHRIST'S HEALING MISSION AND THE MISSION OF MERCY OF THE CATHOLIC CHURCH EXPRESSED IN CATHOLIC HEALTH CARE TO OUR COMMUNITIES.

  • THE PRINCIPAL PURPOSE OF THE ST. FRANCIS HOSPITAL FOUNDATION, INC. IS SOLICITING, MAINTAINING, AND INVESTING PUBLIC CONTRIBUTIONS, BEQUESTS, AND GRANTS FOR THE PURPOSE OF ENHANCING QUALITY, DEVELOPMENT, AND EXPANDING THE MEDICAL SERVICES OF ST. FRANCIS HOSPITAL, INCLUDING FUNDING FOR THE PURHASE OF MEDICAL EQUIPMENT, RESEARCH, STAFFING AND CONTINUING EDUCATION AND TRAINING THEREBY CREATING A BETTER FACILITY AND TRAINED PROFESIONAL FOR THE PUBLIC. THE ST. FRANCIS HOSPITAL FOUNDATION IS ALSO INVOLVED IN MAKING GRANTS TO FUND RESEARCH THROUGH THE ST. FRANCIS RESEARCH AND EDUCATIONAL CORPORATION

    Expenses $10,825,580 · Grants $10,825,580

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CHARLES LUCORE

    PRESIDENT

    Total calculated
    $2,558,370
    From this org
    $0
    From related orgs
    $2,210,463
    Other
    $347,907
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $955,553 related
    Bonus
    $0 + $275,000 related
    Other
    $0 + $979,910 related
    Deferred
    $0 + $291,856 related
    Nontaxable benefits
    $0 + $56,051 related
    Filer's total
    $0 + $2,558,370 related

  • PATRICK MINICUS

    EVP & CFO

    Total calculated
    $1,928,665
    From this org
    $0
    From related orgs
    $1,220,160
    Other
    $708,505
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $921,345 related
    Bonus
    $0 + $270,000 related
    Other
    $0 + $28,815 related
    Deferred
    $0 + $655,803 related
    Nontaxable benefits
    $0 + $52,702 related
    Filer's total
    $0 + $1,928,665 related

  • RUTH HENNESSEY

    FORMER CAO

    Total calculated
    $1,387,512
    From this org
    $0
    From related orgs
    $1,094,062
    Other
    $293,450
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $695,448 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $248,614 related
    Deferred
    $0 + $273,450 related
    Nontaxable benefits
    $0 + $20,000 related
    Filer's total
    $0 + $1,387,512 related

  • RONALD GULOTTA MD

    TRUSTEE

    Total calculated
    $704,974
    From this org
    $0
    From related orgs
    $637,120
    Other
    $67,854
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $561,986 related
    Bonus
    $0 + $71,000 related
    Other
    $0 + $4,134 related
    Deferred
    $0 + $19,978 related
    Nontaxable benefits
    $0 + $47,876 related
    Filer's total
    $0 + $704,974 related

  • MARGARET MAHER

    SVP&CHIEF DEVELOPMENT OFFICER

    Total calculated
    $514,630
    From this org
    $0
    From related orgs
    $488,031
    Other
    $26,599
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $406,314 related
    Bonus
    $0 + $76,000 related
    Other
    $0 + $5,717 related
    Deferred
    $0 + $20,856 related
    Nontaxable benefits
    $0 + $5,743 related
    Filer's total
    $0 + $514,630 related

  • HERBERT J MCCOOEY

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • THOMAS J FANNING

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • BRIAN POISSANT ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DWIGHT I ARNESEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JAN A BURMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOHN BURNS SR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DOMINIC CAMERA JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT B CATELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY D FORCHELLI ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT F GARTLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • STEVEN M MARENTIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LOUISE SPADARO MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ROBERT P MORAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ELIZABETH VENUTI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • TANJA DIXON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • RICHARD L WINSLOW

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PETER FORMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ALEXANDER MATINA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SR MARGARET CULLOTY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PAUL L CUNEO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

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

  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3 - METHODS TO ESTABLISH COMPENSATION BY RELATED ORGANIZATION
THE FOLLOWING METHODS ARE USED BY A RELATED ORGANIZATION TO ESTABLISH COMPENSATION OF THE CEO/EXECUTIVE DIRECTOR: A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, FORM 990 OF OTHER ORGANIZATIONS, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE AMOUNTS BELOW ARE INCLUDED ON SCHEDULE J, PART II, COLUMN C. PATRICK MINICUS $633,000 PARTICIPATION IN PLAN RUTH HENNESSY $252,000 PARTICIPATION IN THE PLAN. CHARLES LUCORE $271,000 PARTICIPATION IN THE PLAN. THE DEFERRED COMPENSATION IN COLUMN C FOR THESE INDIVIDUALS INCLUDES BOTH QUALIFIED AND NON-QUALIFIED RETIREMENT PLANS. THE FOLLOWING INDIVIDUALS VESTED IN THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE AMOUNTS BELOW ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B (III). THESE AMOUNTS INCLUDE A TAX GROSS UP. RUTH HENNESSY $224,144 VESTED IN PLAN. CHARLES LUCORE $944,452 VESTED IN PLAN. THE AMOUNTS OUTLINED HEREIN WERE INCLUDED IN EACH INDIVIDUAL'S 2017 FORM W-2, BOX 5 AS TAXABLE WAGES BECAUSE THEY ARE VESTED, BUT ARE NOT DISTRIBUTED UNTIL RETIREMENT.
PART II - FORMER OFFICERS & DIRECTORS
EFFECTIVE 12/19/2018, RUTH HENNESSEY WAS TRANSFERRED TO GOOD SAMARITAN HOSPITAL MEDICAL CENTER, A RELATED ENTITY, TO SERVE AS A PRESIDENT/CEO.

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202443199349317939

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