Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $3,861

• 1e · Government grants (contributions)

  $407,401

• 1f · All other contributions, gifts and grants

  $37,450

• 1g · Noncash contributions included above

  $15,761

• 2a · Program service revenue: Psychiatric services

  total $23,440,768 · related or exempt $23,440,768

• 2b · Program service revenue: Government contracts

  total $3,466,453 · related or exempt $3,466,453

• 3 · Investment income

  total $98,935 · excluded $98,935

• 8a · Fundraising events: gross income

  $35,287

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

  $3,861

• 8b · Fundraising events: direct expenses

  $13,761

• 8c · Net income from fundraising events

  total $21,526 · excluded $21,526

• 9a · Gaming: gross income

  $2,694

• 9b · Gaming: direct expenses

  $48

• 9c · Net income from gaming

  total $2,646 · excluded $2,646

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $17,105,205 · program services $15,844,731 · management and general $1,260,474

• 8 · Pension plan contributions

  total $32,864 · program services $29,656 · management and general $3,208

• 9 · Other employee benefits

  total $1,962,259 · program services $1,770,715 · management and general $191,544

• 10 · Payroll taxes

  total $1,484,854 · program services $1,339,911 · management and general $144,943

• 11a · Fees: management

  total $586,597 · management and general $586,597

• 11b · Fees: legal

  total $20,581 · management and general $20,581

• 11c · Fees: accounting

  total $63,504 · management and general $63,504

• 11g · Fees: other

  total $2,456,976 · program services $1,897,297 · management and general $559,679

• 12 · Advertising and promotion

  total $95,110 · program services $73,445 · management and general $21,665

• 13 · Office expenses

  total $267,993 · program services $206,946 · management and general $61,047

• 14 · Information technology

  total $84,989 · program services $65,629 · management and general $19,360

• 16 · Occupancy

  total $711,062 · program services $549,088 · management and general $161,974

• 17 · Travel

  total $145,673 · program services $112,490 · management and general $33,183

• 19 · Conferences, conventions and meetings

  total $19,249 · program services $14,864 · management and general $4,385

• 20 · Interest

  total $14,809 · program services $473 · management and general $14,336

• 22 · Depreciation, depletion and amortization

  total $177,586 · program services $150,662 · management and general $26,924

• 23 · Insurance

  total $151,035 · program services $116,630 · management and general $34,405

• 24a · Other expenses: Client care expenses

  total $654,881 · program services $654,881

• 24b · Other expenses: Provision for bad debts

  total $634,391 · program services $634,391

• 24c · Other expenses: Program/maint. supplies

  total $98,665 · program services $76,190 · management and general $22,475

• 24d · Other expenses: Equipment costs

  total $39,556 · program services $30,545 · management and general $9,011

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,053,868 · end of year $1,118,194

• 2 · Savings and temporary cash investments

  beginning of year $2,385,087 · end of year $3,517,163

• 4 · Accounts receivable

  beginning of year $1,148,109 · end of year $1,361,514

• 9 · Prepaid expenses and deferred charges

  beginning of year $333,677 · end of year $378,777

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

  $2,803,153

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

  $1,947,698

• 10c · Land, buildings and equipment, net

  beginning of year $927,195 · end of year $855,455

• 14 · Intangible assets

  beginning of year $648,525 · end of year $774,464

• 15 · Other assets

  beginning of year $734,879 · end of year $869,781

• 17 · Accounts payable and accrued expenses

  beginning of year $1,922,322 · end of year $3,469,021

• 19 · Deferred revenue

  beginning of year $900 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $176,459 · end of year $0

• 25 · Other liabilities

  beginning of year $4,716,912 · end of year $4,320,379

• 27 · Net assets without donor restrictions

  beginning of year $414,747 · end of year $1,085,948

The filer's explanations (Part III)

Part I, Line 3

The compensation for the Organization's president and executive director was established by a related organization, Valley Health Systems, Inc. That organization established the CEO's compensation by using a compensation committee and a compensation study. The compensation was also approved by the System's compensation committee.

Part I, Line 4b

Holyoke Medical Center adopted a 457(f) non-qualified deferred compensation plan that became effective as of July 1, 2017. The Plan allows for eligible individuals and employees of the Medical Center to receive benefits under the Plan until the attainment of age 65. Non-elective contributions made for a Plan participant are tracked and will vest separately based on anniversaries of participants' employment. Each contribution will be 0% vested until the participant reaches the end of their second year of employment after each contribution. Each contribution will become 100% vested as of the last day of the 2nd year of a participant's employment, if the participant is still employed on that date. Only eligible employees are participants in the plan, and the plan does not allow for employee elective deferrals or employer matches. For the 2023 Tax Year, the following individuals received contributions under the 457(f) plan: - Spiridon E. Hatiras, $51,847. - Carl Cameron, $29,705. And, - Dean Vitarisi, $23,022.