Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $108,149

• 1e · Government grants (contributions)

  $8,333

• 1f · All other contributions, gifts and grants

  $2,615,396

• 1g · Noncash contributions included above

  $14,743

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $25,692,609 · related or exempt $25,692,609

• 3 · Investment income

  total $305,711 · excluded $305,711

• 7a · Gross sales of assets other than inventory

  securities $2,919,295

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

  securities $2,636,052

• 7c · Gain or loss

  securities $283,243

• 7d · Net gain or loss

  total $283,243 · excluded $283,243

• 8a · Fundraising events: gross income

  $38,323

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

  $108,149

• 8b · Fundraising events: direct expenses

  $18,733

• 8c · Net income from fundraising events

  total $19,590 · excluded $19,590

• 11a · Other revenue: OTHER

  total $2,450,241 · excluded $2,450,241

• 11b · Other revenue: EMPLOYEE RETENTION CREDIT

  total $1,223,545 · excluded $1,223,545

• 11e · Other revenue, total

  $3,673,786

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $774,185 · management and general $774,185

• 7 · Other salaries and wages

  total $19,465,112 · program services $15,372,639 · management and general $3,468,540 · fundraising $623,933

• 8 · Pension plan contributions

  total $531,405 · program services $500,924 · management and general $26,110 · fundraising $4,371

• 9 · Other employee benefits

  total $3,692,485 · program services $1,425,775 · management and general $2,239,530 · fundraising $27,180

• 10 · Payroll taxes

  total $1,676,980 · program services $1,353,345 · management and general $311,897 · fundraising $11,738

• 11b · Fees: legal

  total $2,066 · management and general $2,066

• 11c · Fees: accounting

  total $13,000 · management and general $13,000

• 11f · Fees: investment management

  total $5,472 · management and general $5,472

• 11g · Fees: other

  total $2,867,636 · program services $2,288,708 · management and general $411,497 · fundraising $167,431

• 12 · Advertising and promotion

  total $3,018 · management and general $150 · fundraising $2,868

• 13 · Office expenses

  total $591,858 · program services $355,785 · management and general $222,821 · fundraising $13,252

• 14 · Information technology

  total $489,484 · program services $56,439 · management and general $431,915 · fundraising $1,130

• 16 · Occupancy

  total $428,940 · program services $173,745 · management and general $255,195

• 17 · Travel

  total $666,763 · program services $607,120 · management and general $59,473 · fundraising $170

• 19 · Conferences, conventions and meetings

  total $50,389 · program services $14,642 · management and general $34,964 · fundraising $783

• 22 · Depreciation, depletion and amortization

  total $461,085 · program services $308,970 · management and general $152,115

• 23 · Insurance

  total $56,087 · management and general $56,087

• 24a · Other expenses: MEDICAL SUPPLIES

  total $1,037,316 · program services $1,036,128 · management and general $1,188

• 24b · Other expenses: LEASED EQUIPMENT

  total $279,115 · program services $276,945 · management and general $2,170

• 24c · Other expenses: NON CONTRACT MAINTAINEN

  total $206,091 · program services $88,125 · management and general $117,546 · fundraising $420

• 24d · Other expenses: CONTRACT MAINTAINENCE

  total $161,031 · program services $54,230 · management and general $106,801

• 24e · All other expenses

  total $818,118 · program services $163,334 · management and general $590,491 · fundraising $64,293

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,353,030 · end of year $3,468,265

• 4 · Accounts receivable

  beginning of year $3,649,617 · end of year $3,138,926

• 9 · Prepaid expenses and deferred charges

  beginning of year $716,744 · end of year $1,511,648

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

  $16,551,002

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

  $11,490,464

• 10c · Land, buildings and equipment, net

  beginning of year $5,295,551 · end of year $5,060,538

• 11 · Investments: publicly traded securities

  beginning of year $17,371,431 · end of year $18,856,495

• 15 · Other assets

  beginning of year $9,805 · end of year $1,043,302

• 17 · Accounts payable and accrued expenses

  beginning of year $8,894,845 · end of year $2,913,937

• 25 · Other liabilities

  beginning of year $248,506 · end of year $1,293,538

• 27 · Net assets without donor restrictions

  beginning of year $7,057,439 · end of year $14,969,274

• 28 · Net assets with donor restrictions

  beginning of year $13,195,388 · end of year $13,902,425

The filer's explanations (Part III)

PART I, LINE 1A

PRESIDENT AND COO CHRISTINE WERNEKE RECEIVED COMPENSATION OF $1,400 TO COVER TAX PREPARATION AND FINANCIAL ADVISORY SERVICES. WHILE THERE IS NO ORGANIZATION-WIDE WRITTEN POLICY REGARDING SUCH PAYMENTS, THE AMOUNT IS INCLUDED IN THE EMPLOYMENT CONTRACT, WHICH IS SUBJECT TO ANNUAL REVIEW (AS DISCUSSED IN SCHEDULE O). PERSONAL SERVICE COMPENSATION IS INCLUDED ON FORM W-2 AS TAXABLE INCOME. NO REIMBURSEMENT IS MADE UNDER AN ACCOUNTABLE PLAN AND THE COMPENSATION IS OFFERED ON A TAXABLE BASIS. THEREFORE, SUBSTANTIATION OF EXPENSE IS NOT REQUIRED.

PART I, LINE 3

UVMHNHHH RELIED ON THE UNIVERSITY OF VERMONT HEALTH NETWORK ("UVM HEALTH NETWORK"), THE PARENT ORGANIZATION OF UVMHNHHH, TO ESTABLISH SENIOR EXECUTIVE COMPENSATION. UVM HEALTH NETWORK UTILIZED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

PART I, LINE 4B

THE UNIVERSITY OF VERMONT HEALTH NETWORK, BY AND THROUGH ITS AFFILIATED SUBSIDIARIES, MAINTAINED A SUPPLEMENTAL RETIREMENT BENEFIT PLAN (SRP) UNDER CONTRACTUAL ARRANGEMENTS WITH SEVERAL PERSONS LISTED ON FORM 990, PART VII, AND SECTION A, LINE 1A. PURSUANT TO THE TERMS OF THE SRP, ANNUAL CREDITS WERE MADE EQUAL TO A FIXED PERCENTAGE OF BASE SALARY. THE FOLLOWING PERSONS PARTICIPATED IN THE SRP IN CALENDAR YEAR 2024 AND THEIR RESPECTIVE FIXED PERCENTAGE IS DESIGNATED IN PARENTHESES: CHRISTINE WERNEKE (6.42%). DEFERRED AMOUNTS VEST ON THE EARLIER OF: (I) JANUARY 1 OF THE THIRD PLAN YEAR AFTER THE PLAN YEAR FOR WHICH THE ACCOUNT WAS CREATED; OR (II) THE PARTICIPANT'S 65TH BIRTHDAY. THE AMOUNT DEFERRED FOR CALENDAR YEAR 2024 IS INCLUDED ON SCHEDULE J, PART II, COLUMN C. AMOUNTS DEFERRED REMAIN SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET.

PART I, LINE 7

UVMHNHHH PAID AWARDS TO CERTAIN MEMBERS OF UPPER MANAGEMENT (DIRECTORS, VICE PRESIDENTS, PHYSICIAN CHAIRS AND SENIOR EXECUTIVES) THROUGH ITS ANNUAL VARIABLE PAY PLAN AS THE PLAN'S PERFORMANCE MEASURES WERE MET. THE MEASURES WERE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THESE MEASURES INCLUDED FINANCIAL, POPULATION HEALTH & QUALITY, AND OPERATIONAL RELATED METRICS.

PART I, LINE 8

SALARIES AND OTHER FIXED AMOUNTS PAYABLE TO EXECUTIVES SUCH AS OFFICERS AND CERTAIN KEY EMPLOYEES ARE SET BY CONTRACTS THAT ARE NEGOTIATED AND ENTERED INTO PRIOR TO THE COMMENCEMENT OF EACH EXECUTIVES' EMPLOYMENT. THE TERMS OF SUCH CONTRACTS ARE APPROVED IN ADVANCE BY THE APPROPRIATE COMPENSATION COMMITTEE OR OTHER BOARD-AUTHORIZED BODY, WHICH OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING SUCH OFFER, AND CONCURRENTLY DOCUMENTS ITS BASIS FOR DETERMINATION.

Related corporations and trusts

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

• UVMHN VENTURES INC

  C · HOLDING COMPANY · VT · controlled entity

• UVM HEALTH NETWORK CREDENTIALING & ENROLLMENT

  C · ADMIN SVC · VT · controlled entity

• CHARITABLE REMAINDER TRUSTS (6)

  T · SUPPORT · VT · controlled entity

• PERPETUAL TRUSTS (10)

  T · SUPPORT · VT · controlled entity

• CHARITABLE IRREVOCABLE TRUSTS (8)

  T · SUPPORT · VT · controlled entity

• CHAMPLAIN VALLEY HEALTH NETWORK

  C · ADMIN SVCS · NY · controlled entity

• MEDIQUEST INC

  C · MED OFFICE LEASE · NY · controlled entity