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← CHESHIRE HEALTH FOUNDATION

Form 990 for tax year 2022

Filed by CHESHIRE HEALTH FOUNDATION.

Totals

Total revenue
$1,785,631
Total expenses
$1,778,846
Contributions and grants received
$1,678,758
Grants paid
$1,580,519
Program service revenue
$0
Investment income
$64,302
Other revenue
$42,571
Total assets, end of year
$34,238,471
Total liabilities, end of year
$1,500,262
Net assets or fund balances, end of year
$32,738,209
Program services expenses (Part IX)
$1,770,114
Management and general expenses
$0
Fundraising expenses
$8,732
Program service expenses (Part III)
$1,770,114

Program services were 99.5% 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

    $99,951

  • 1f · All other contributions, gifts and grants

    $1,578,807

  • 1g · Noncash contributions included above

    $40,683

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $64,350 · unrelated business $23,564 · excluded $40,786

  • 6a · Gross rents

    real property $84,600

  • 6b · Less rental expenses

    real property $42,980

  • 6c · Rental income or loss

    real property $41,620 · personal property $0

  • 6d · Net rental income or loss

    total $41,620 · excluded $41,620

  • 7a · Gross sales of assets other than inventory

    securities $8,019

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

    securities $7,971

  • 7c · Gain or loss

    securities $48 · other assets $0

  • 7d · Net gain or loss

    total -$48 · excluded -$48

  • 8a · Fundraising events: gross income

    $20,931

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

    $99,951

  • 8b · Fundraising events: direct expenses

    $25,891

  • 8c · Net income from fundraising events

    total -$4,960 · excluded -$4,960

  • 11d · All other revenue

    total $5,911 · related or exempt $0 · unrelated business $0 · excluded $5,911

  • 11e · Other revenue, total

    $5,911

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,580,519 · program services $1,580,519

  • 11g · Fees: other

    total $31,705 · program services $31,705 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,498 · fundraising $2,498

  • 14 · Information technology

    total $1,500 · fundraising $1,500

  • 16 · Occupancy

    total $31,898 · program services $31,898

  • 22 · Depreciation, depletion and amortization

    total $69,225 · program services $69,225

  • 23 · Insurance

    total $56,767 · program services $56,767

  • 24a · Other expenses: Other Expenses

    total $4,734 · fundraising $4,734

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,332,030 · end of year $2,650,487

  • 2 · Savings and temporary cash investments

    beginning of year $0

  • 3 · Pledges and grants receivable

    beginning of year $2,000,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $15,000 · end of year $15,000

  • 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

  • 8 · Inventories for sale or use

    beginning of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,011 · end of year $38,277

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

    $5,805,909

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

    $3,040,432

  • 10c · Land, buildings and equipment, net

    beginning of year $2,834,703 · end of year $2,765,477

  • 11 · Investments: publicly traded securities

    beginning of year $248,419 · end of year $199,531

  • 12 · Investments: other securities

    beginning of year $20,971,937 · end of year $22,300,507

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $7,508,104 · end of year $6,269,192

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 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

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $13,230,411 · end of year $1,500,262

  • 27 · Net assets without donor restrictions

    beginning of year $3,150,737 · end of year $3,741,529

  • 28 · Net assets with donor restrictions

    beginning of year $29,570,056 · end of year $28,996,680

Mission and programs · 2022

Mission

CHESHIRE HEALTH FOUNDATION CULTIVATES AND STEWARDS CHARITABLE SUPPORT TO ADVANCE THE HEALTH AND WELLNESS MISSION OF CHESHIRE MEDICAL CENTER. THE CHESHIRE HEALTH FOUNDATION PROVIDES MANAGEMENT OF BOARD-DESIGNATED, SPECIAL-PURPOSE, BUILDING, AND ENDOWMENT FUNDS.

Activities or mission (Part I)

CHESHIRE HEALTH FOUNDATION CULTIVATES AND STEWARDS CHARITABLE SUPPORT TO ADVANCE THE HEALTH AND WELLNESS MISSION OF CHESHIRE MEDICAL CENTER.

  • The Cheshire Health Foundation raises funds to support the health and wellness mission of Cheshire Medical Center. For Fiscal Year 2023, Medical Center senior leaders and Trustees collaborated with Foundation Trustees to determine strategic needs for the year. The purchase of a new, state-of-the-art 3D mammography machine and upgrades for the Medical Center's existing 3D mammography machine were the main funding priorities and charitable donations funded these purchases. The new 3D mammography unit and upgraded, existing 3D unit are helping Cheshire to expand mammography appointments, thus meeting growing patient care needs. The superior imaging capabilities of both units will help identify invasive cancers in their earliest stages, reduce the rate of false positives and minimize patient call-backs. With two mammography machines in use, patients and appointments will be minimally impacted when either unit has downtime for routine maintenance or repairs. Both machines are vital to Cheshire's ability to continue providing high quality care to patients that remains close to home. The Foundation also received gifts for a wide variety of specialized equipment to support inpatient and outpatient Physical Therapy, Women's Health and the Birthing Pavilion, EKG equipment, patient financial assistance, and other specific needs. Scholarship funds increased through donations to the Cindi Coughlin Professional Nursing Scholarship Fund and the Ben Tatro Memorial Healthcare Scholarship Fund. Other funds raised supported Cheshire's local Dartmouth Cancer Center through equipment and program needs and assisting patients financially who have difficulty meeting their daily living expenses. In addition, charitable support received helped Cheshire continue renovations on the West Campus building for the new Family Medicine Residency Program, and will fund support for future capital projects. Bequests received benefited future strategic capital purchases. Planned gifts over the years have created specific purpose funds and permanently restricted endowment funds that support patient care, including patient financial assistance, and nursing scholarships and professional development.

    Expenses $1,770,114 · Grants $1,580,519

As filed on the 2022 return.

Listed in Part VII

  • Ceil Goff

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Don Caruso MD

    TRUSTEE/CEO/PRESIDENT (through 5/26/23)

    Total calculated
    $565,957
    From this org
    $0
    From related orgs
    $500,413
    Other
    $65,544
    Hours/week
    0.5 + 41.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $449,237 related
    Bonus
    $0
    Other
    $0 + $51,176 related
    Deferred
    $0 + $29,250 related
    Nontaxable benefits
    $0 + $36,294 related
    Filer's total
    $0 + $565,957 related

  • Julie Tewksbury

    TRUSTEE / Vice Chair (through 12/31/22)

    Total calculated
    $0
    Hours/week
    0.5

  • Kathryn Willbarger

    Trustee / Interim CEO (as of 5/27/23)

    Total calculated
    $333,061
    From this org
    $0
    From related orgs
    $302,306
    Other
    $30,755
    Hours/week
    0.5 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $301,662 related
    Bonus
    $0
    Other
    $0 + $644 related
    Deferred
    $0 + $27,227 related
    Nontaxable benefits
    $0 + $3,528 related
    Filer's total
    $0 + $333,061 related

  • Robert Englund MD

    TRUSTEE / Vice Chair (as of 1/1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Therrien

    TRUSTEE/CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • William Chase MD

    TRUSTEE/Secretary

    Total calculated
    $0
    Hours/week
    0.5

  • Aalok Khole MD

    Trustee / Physician

    Total calculated
    $288,767
    From this org
    $0
    From related orgs
    $256,650
    Other
    $32,117
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,393 related
    Bonus
    $0
    Other
    $0 + $20,257 related
    Deferred
    $0 + $15,362 related
    Nontaxable benefits
    $0 + $16,755 related
    Filer's total
    $0 + $288,767 related

  • Alan Stroshine

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Christopher Hamblet

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Cindy Westover

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Elizabeth Cotter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Heather Minkler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Helene Mogridge

    TRUSTEE (through 12/31/22)

    Total calculated
    $0
    Hours/week
    0.5

  • Jane Larmon

    Trustee (as of 1/1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Katherine Snow

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Matt Mucha

    Trustee (as of 1/1/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Patricia Campbell MD

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Patti Seymour

    Trustee

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel Gross

    CFO of Cheshire Medical Center

    Total calculated
    $318,598
    From this org
    $0
    From related orgs
    $278,760
    Other
    $39,838
    Hours/week
    0.5 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,572 related
    Bonus
    $0
    Other
    $0 + $1,188 related
    Deferred
    $0 + $16,991 related
    Nontaxable benefits
    $0 + $22,847 related
    Filer's total
    $0 + $318,598 related

  • Sandra Phipps

    VP PHILANTHROPY/COMM RELATIONS

    Total calculated
    $199,887
    From this org
    $0
    From related orgs
    $167,071
    Other
    $32,816
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,097 related
    Bonus
    $0
    Other
    $0 + $974 related
    Deferred
    $0 + $13,329 related
    Nontaxable benefits
    $0 + $19,487 related
    Filer's total
    $0 + $199,887 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
The CEO IS EMPLOYED AND PAID BY A RELATED ORGANIZATION WHICH USES A COMPENSATION COMMITTEE, AN INDEPENDENT CONSULTANT, FORM 990 INFORMATION FROM OTHER ORGANIZATIONS, A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH THE CEO'S COMPENSATION.

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 corporations and trusts

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

  • KEENE HEALTH ENTERPRISES

    C Corporation · REAL ESTATE HOLDING · NH

    Directly controlled by CMC

  • KEENE HEALTH REALTY

    C Corporation · REAL ESTATE HOLDING · NH

    Directly controlled by CMC

  • KEENE HEALTH SERVICES

    C Corporation · REAL ESTATE HOLDING · NH

    Directly controlled by CMC

  • Fitch Charitable Trust

    Trust · Charitable Trust · NH · 100% owned

    Directly controlled by CHF

  • M Hayden Irrevocable TUW

    Trust · CHARITABLE IRREVOCABLE TRUST · NH · 100% owned

    Directly controlled by CHF

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411349349305441

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