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Nonprofiteer
← CALVARY FUND INC

Form 990 for tax year 2023

Filed by CALVARY FUND INC.

Totals

Total revenue
$8,209,600
Total expenses
$6,908,700
Contributions and grants received
$5,305,780
Grants paid
$3,356,000
Program service revenue
$0
Investment income
$3,315,200
Other revenue
-$411,380
Total assets, end of year
$37,701,200
Total liabilities, end of year
$2,722,100
Net assets or fund balances, end of year
$34,979,100
Program services expenses (Part IX)
$3,356,000
Management and general expenses
$248,200
Fundraising expenses
$3,304,500
Program service expenses (Part III)
$3,356,000

Program services were 48.6% 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

    $438,400

  • 1f · All other contributions, gifts and grants

    $4,867,380

  • 1g · Noncash contributions included above

    $310,100

  • 3 · Investment income

    total $1,667,500 · excluded $1,667,500

  • 7a · Gross sales of assets other than inventory

    securities $8,001,200

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

    securities $6,353,500

  • 7c · Gain or loss

    securities $1,647,700

  • 7d · Net gain or loss

    total $1,647,700 · excluded $1,647,700

  • 8a · Fundraising events: gross income

    $131,000

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

    $438,400

  • 8b · Fundraising events: direct expenses

    $547,800

  • 8c · Net income from fundraising events

    total -$416,800 · excluded -$416,800

  • 9a · Gaming: gross income

    $17,420

  • 9b · Gaming: direct expenses

    $12,000

  • 9c · Net income from gaming

    total $5,420 · excluded $5,420

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,356,000 · program services $3,356,000

  • 5 · Compensation of officers, directors and key employees

    total $484,679 · fundraising $484,679

  • 7 · Other salaries and wages

    total $730,741 · fundraising $730,741

  • 8 · Pension plan contributions

    total $84,621 · fundraising $84,621

  • 9 · Other employee benefits

    total $192,040 · fundraising $192,040

  • 10 · Payroll taxes

    total $75,320 · fundraising $75,320

  • 11a · Fees: management

    total $23,871 · fundraising $23,871

  • 11b · Fees: legal

    total $6,825 · management and general $6,825

  • 11c · Fees: accounting

    total $102,404 · management and general $89,782 · fundraising $12,622

  • 11e · Fees: professional fundraising services

    total $579,004 · fundraising $579,004

  • 11g · Fees: other

    total $4,000 · management and general $4,000

  • 13 · Office expenses

    total $55,222 · management and general $10,320 · fundraising $44,902

  • 16 · Occupancy

    total $63,693 · management and general $63,693

  • 17 · Travel

    total $3,991 · fundraising $3,991

  • 23 · Insurance

    total $20,520 · management and general $20,520

  • 24a · Other expenses: DIRECT FUNDRAISING COST

    total $821,827 · fundraising $821,827

  • 24b · Other expenses: BANK FEES

    total $30,862 · management and general $30,862

  • 24c · Other expenses: PAYROLL SERVICES

    total $1,513 · management and general $1,513

  • 24e · All other expenses

    total $271,567 · management and general $20,685 · fundraising $250,882

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $370,900 · end of year $4,586,400

  • 3 · Pledges and grants receivable

    beginning of year $1,580,800 · end of year $974,400

  • 9 · Prepaid expenses and deferred charges

    beginning of year $623,900 · end of year $86,400

  • 11 · Investments: publicly traded securities

    beginning of year $32,327,900 · end of year $32,054,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,529,200 · end of year $1,587,600

  • 25 · Other liabilities

    beginning of year $1,050,900 · end of year $1,134,500

  • 27 · Net assets without donor restrictions

    beginning of year $319,400 · end of year -$1,775,600

  • 28 · Net assets with donor restrictions

    beginning of year $32,004,000 · end of year $36,754,700

Mission and programs · 2023

Mission

THE CALVARY FUND'S PRIMARY EXEMPT PURPOSE IS TO RAISE PUBLIC CONTRIBUTIONS TO SUPPORT THE TAX-EXEMPT MISSION OF CALVARY HOSPITAL, INC.

Activities or mission (Part I)

TO RAISE PUBLIC FUNDS TO SUPPORT CALVARY HOSPITAL'S TAX-EXEMPT MISSION.

  • SEE SCHEDULE O. THE CALVARY FUND, INC. ("THE FUND") WAS INCORPORATED ON JANUARY 7, 1985 AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NEW YORK. THE FUND'S PURPOSE IS TO SOLICIT, ACCEPT, AND RECEIVE REAL AND PERSONAL PROPERTY AND TO COLLECT INCOME, THEREFROM, TO BE APPLIED EXCLUSIVELY FOR ANY HEALTH RELATED CHARITABLE ORGANIZATION AFFILIATED WITH THE ROMAN CATHOLIC ARCHDIOCESE OF NEW YORK. ALL EXPENSES INCURRED TO FURTHER THE FUND'S FUNDRAISING ENDEAVORS ARE ALLOCATED TO PART IX, COLUMN (D) AND THEREFORE, ONLY THE FUND'S ANNUAL CONTRIBUTION ($3,356,000 IN 2023) TO ITS SUPPORTED ORGANIZATION, CALVARY HOSPITAL, IS REPORTED AS A PROGRAM SERVICE EXPENSE. ALL EXPENSES REPORTED IN COLUMN (D) SHOULD, LIKEWISE BE CONSIDERED PROGRAM SERVICE EXPENSES.

    Expenses $3,356,000 · Grants $3,356,000

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

Listed in Part VII

  • Frank Calamari

    EX-OFFICIO

    Total calculated
    $710,191
    From this org
    $0
    From related orgs
    $670,906
    Other
    $39,285
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $112,926 related
    Bonus
    $0
    Other
    $0 + $557,980 related
    Deferred
    $0 + $21,750 related
    Nontaxable benefits
    $0 + $17,535 related
    Filer's total
    $0 + $710,191 related

  • Carlos M Hernandez

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Eileen T Nugent Esq

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael J Brescia MD-Emeritus

    DIRECTOR (NON-VOTING) (THRU 04/23)

    Total calculated
    $0
    Hours/week
    0.5

  • Bonnie Brennan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph Deglomini Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel E Donovan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Steven J Golub

    EMERITUS DIRECTOR (NON-VOTING)

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Emily Yoder Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Diahn W McGrath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Daniel J McSwiggan Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jay Monaghan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Edward R Morrissey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James O'Hara

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Louise Parent

    EMERITUS DIRECTOR (NON-VOTING)

    Total calculated
    $0
    Hours/week
    0.5

  • Al Roker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dennis M Schneider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Ja Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Robert E Spatt Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph A Tarantino

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • Gerry Tobin

    EMERITUS DIRECTOR (NON-VOTING)

    Total calculated
    $0
    Hours/week
    0.5

  • Timothy Barr

    EXEC. VP/TREASURER/SECRETARY

    Total calculated
    $484,678
    From this org
    $392,259
    From related orgs
    $0
    Other
    $92,419
    Hours/week
    37

    Schedule J breakdown matched by us

    Base
    $302,320
    Bonus
    $0
    Other
    $89,939
    Deferred
    $21,750
    Nontaxable benefits
    $70,669
    Filer's total
    $484,678

  • Andrew V Greco

    CHIEF FINANCIAL OFFICER

    Total calculated
    $437,692
    From this org
    $0
    From related orgs
    $367,153
    Other
    $70,539
    Hours/week
    1 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,730 related
    Bonus
    $0
    Other
    $0 + $61,423 related
    Deferred
    $0 + $21,750 related
    Nontaxable benefits
    $0 + $48,789 related
    Filer's total
    $0 + $437,692 related

  • Elizabeth Kougasian

    DIRECTOR, MAJOR & PLANNED

    Total calculated
    $133,228
    From this org
    $123,762
    From related orgs
    $0
    Other
    $9,466
    Hours/week
    37

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 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202423209349312672

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