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Nonprofiteer
← POINT32HEALTH FOUNDATION INC

Form 990 for tax year 2023

Filed by POINT32HEALTH FOUNDATION INC.

Totals

Total revenue
$20,243,666
Total expenses
$11,411,566
Contributions and grants received
$6,000,000
Grants paid
$9,358,037
Program service revenue
$0
Investment income
$14,243,666
Other revenue
$0
Total assets, end of year
$117,686,597
Total liabilities, end of year
$2,015,985
Net assets or fund balances, end of year
$115,670,612
Program services expenses (Part IX)
$11,031,772
Management and general expenses
$379,794
Fundraising expenses
$0
Program service expenses (Part III)
$11,031,772

Program services were 96.7% 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.

  • 1d · Related organizations

    $6,000,000

  • 1f · All other contributions, gifts and grants

    $0

  • 3 · Investment income

    total $12,078,036 · excluded $12,078,036

  • 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 $13,179,555

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

    securities $11,013,925

  • 7c · Gain or loss

    securities $2,165,630

  • 7d · Net gain or loss

    total $2,165,630 · excluded $2,165,630

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 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 $9,358,037 · program services $9,358,037

  • 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 $52,500 · program services $0 · management and general $52,500 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $109,241 · program services $0 · management and general $109,241 · fundraising $0

  • 11g · Fees: other

    total $214,866 · program services $171,893 · management and general $42,973 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $48,011 · program services $0 · management and general $48,011 · fundraising $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $22,167 · program services $0 · management and general $22,167 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $38,004 · program services $0 · management and general $38,004 · fundraising $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: CONTRACTED SERVICES

    total $1,225,954 · program services $1,225,954 · management and general $0 · fundraising $0

  • 24b · Other expenses: VOLUNTEER EVENTS

    total $179,907 · program services $179,907 · management and general $0 · fundraising $0

  • 24c · Other expenses: SOFTWARE LICENSES

    total $93,976 · program services $75,181 · management and general $18,795 · fundraising $0

  • 24d · Other expenses: DUES/MEMBERSHIPS

    total $42,903 · program services $0 · management and general $42,903 · fundraising $0

  • 24e · All other expenses

    total $26,000 · program services $20,800 · management and general $5,200

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 $1,436,678 · end of year $189,313

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $18,547 · end of year $1,034,634

  • 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 $600,000 · end of year $600,000

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $106,739,255 · end of year $115,862,650

  • 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 $1,087,743 · end of year $1,429,543

  • 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 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $868,225 · end of year $586,442

  • 27 · Net assets without donor restrictions

    beginning of year $106,838,512 · end of year $115,670,612

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

POINT32HEALTH FOUNDATION WORKS WITH COMMUNITIES TO SUPPORT, ADVOCATE AND ADVANCE HEALTHIER LIVES FOR EVERYONE.

  • GENERAL OPERATING GRANTS: GENERAL OPERATING GRANTS INVEST IN NONPROFIT ORGANIZATIONS AND COMMUNITY-LED SOLUTIONS THAT ADDRESS INEQUITIES IN CONNECTICUT, MAINE, MASSACHUSETTS, NEW HAMPSHIRE AND RHODE ISLAND.

    Expenses $9,232,554 · Grants $7,831,796

  • CORPORATE CITIZENSHIP (WORKPLACE GIVING/SPONSORSHIPS): IN 2023, THE POINT32HEALTH FAMILY OF COMPANIES PARTICIPATED IN CORPORATE CITIZENSHIP ACTIVITIES. THIS INCLUDED FOUNDATION INVESTMENTS IN COMMUNITY THROUGH SPONSORSHIPS, A MATCH PROGRAM THAT SUPPORTS INDIVIDUAL VOLUNTEERING AND/OR FINANCIAL CONTRIBUTIONS TO QUALIFIED NON-PROFIT ORGANIZATIONS UP TO $500 ANNUALLY FOR EACH EMPLOYEE AND UP TO $5,000 ANNUALLY FOR MEMBERS OF POINT32HEALTH AND FOUNDATION BOARDS OF DIRECTORS. DONATIONS MADE ON #GIVINGTUESDAY ARE MATCHED TWO-FOR-ONE. ADDITIONALLY, THE FOUNDATION MATCHES UP TO $5,000 ANNUALLY FOR EMPLOYEES AT THE DIRECTOR-LEVEL AND ABOVE WHO SERVE ON BOARDS AND OFFERS EMPLOYEES UP TO THE MANAGER LEVEL AN OPPORTUNITY TO DIRECT A MINI GRANT UP TO $300. ALL EMPLOYEES AND BOARD MEMBERS ARE ALSO ELIGIBLE FOR AN ANNUAL DOUBLE MATCH -- UP TO $1,000 - FOR DONATIONS MADE TO ORGANIZATIONS ADVANCING RACIAL AND SOCIAL JUSTICE. A MATCH INCENTIVE FOR TEAM-BASED VOLUNTEERING ENCOURAGES SERVICE TO COMMUNITY. ADDITIONALLY, THE FOUNDATION OFFERS SPECIAL MATCH PROGRAMS TO SUPPORT DISASTER RESPONSE AND RELIEF EFFORTS, AND FUNDRAISING PROGRAMS SUCH AS THE WALK TO END ALZHEIMER'S AND NAMI WALKS (TO SUPPORT THE NATIONAL ALLIANCE ON MENTAL ILLNESS). THE CORPORATE CITIZENSHIP PROGRAM SUPPORTS A COMPANY-WIDE VOLUNTEER WEEK, VOLUNTEER SERVICE OPPORTUNITIES THROUGHOUT THE YEAR, AND DRIVES ADDRESSING KEY SOCIAL AND ECONOMIC FACTORS AFFECTING HEALTH (THE SOCIAL DETERMINANTS OF HEALTH): FOOD, HOUSING AND ECONOMIC SECURITY, AND EDUCATION.

    Expenses $1,573,891 · Grants $1,335,100

  • POLICY & ADVOCACY GRANTS: THE FOUNDATION SUPPORTS POLICY AND/OR SYSTEMS-LEVEL CHANGE TO IMPROVE ACCESS TO AFFORDABLE, NUTRITIOUS FOOD AND MENTAL HEALTH SERVICES AND TO ADVANCE AGE-FRIENDLY SOLUTIONS IN COMMUNITIES. THESE ACTIVITIES ARE PURPOSEFUL AND INTENTIONAL IN ELEVATING THE VOICE OF COMMUNITY, EDUCATING AND INFORMING DECISION-MAKERS; AND INCLUDE KEY STAKEHOLDERS AND OLDER PEOPLE IN POLICY AND SYSTEMS CHANGE.

    Expenses $222,628 · Grants $188,851

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

Listed in Part VII

  • CAIN HAYES

    PRESIDENT & CEO

    Total calculated
    $4,246,459
    From this org
    $0
    From related orgs
    $3,859,017
    Other
    $387,442
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,219,827 related
    Bonus
    $0 + $2,572,806 related
    Other
    $0 + $66,384 related
    Deferred
    $0 + $359,082 related
    Nontaxable benefits
    $0 + $28,360 related
    Filer's total
    $0 + $4,246,459 related

  • UMESH KURPAD

    FORMER OFFICER

    Total calculated
    $1,621,244
    From this org
    $0
    From related orgs
    $1,454,835
    Other
    $166,409
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $421,895 related
    Bonus
    $0 + $889,814 related
    Other
    $0 + $143,126 related
    Deferred
    $0 + $151,586 related
    Nontaxable benefits
    $0 + $14,823 related
    Filer's total
    $0 + $1,621,244 related

  • TISA HUGHES

    FORMER CLERK/SECRETARY

    Total calculated
    $1,466,203
    From this org
    $0
    From related orgs
    $1,330,477
    Other
    $135,726
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $555,477 related
    Bonus
    $0 + $721,793 related
    Other
    $0 + $53,207 related
    Deferred
    $0 + $109,372 related
    Nontaxable benefits
    $0 + $26,354 related
    Filer's total
    $0 + $1,466,203 related

  • MARK PORTER

    TREASURER (START 10/12)

    Total calculated
    $1,222,453
    From this org
    $0
    From related orgs
    $1,055,628
    Other
    $166,825
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $421,133 related
    Bonus
    $0 + $589,288 related
    Other
    $0 + $45,207 related
    Deferred
    $0 + $139,911 related
    Nontaxable benefits
    $0 + $26,914 related
    Filer's total
    $0 + $1,222,453 related

  • KRISTIN LEWIS

    DIRECTOR (1/1-6/7;10/12-12/31)

    Total calculated
    $1,187,178
    From this org
    $0
    From related orgs
    $1,034,645
    Other
    $152,533
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $423,813 related
    Bonus
    $0 + $535,467 related
    Other
    $0 + $75,365 related
    Deferred
    $0 + $130,361 related
    Nontaxable benefits
    $0 + $22,172 related
    Filer's total
    $0 + $1,187,178 related

  • R SCOTT WALKER

    P32H CFO (START 7/5)

    Total calculated
    $845,896
    From this org
    $0
    From related orgs
    $727,951
    Other
    $117,945
    Hours/week
    2.5 + 47.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $326,498 related
    Bonus
    $0 + $400,000 related
    Other
    $0 + $1,453 related
    Deferred
    $0 + $104,073 related
    Nontaxable benefits
    $0 + $13,872 related
    Filer's total
    $0 + $845,896 related

  • SUSAN KEE

    CLERK/SECRETARY

    Total calculated
    $717,571
    From this org
    $0
    From related orgs
    $645,368
    Other
    $72,203
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $342,136 related
    Bonus
    $0 + $287,804 related
    Other
    $0 + $15,428 related
    Deferred
    $0 + $71,137 related
    Nontaxable benefits
    $0 + $1,066 related
    Filer's total
    $0 + $717,571 related

  • NORA MORENO CARGIE

    DIR; PRES FND & VP CORP CSHIP

    Total calculated
    $692,385
    From this org
    $0
    From related orgs
    $607,774
    Other
    $84,611
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $314,171 related
    Bonus
    $0 + $277,740 related
    Other
    $0 + $15,863 related
    Deferred
    $0 + $69,837 related
    Nontaxable benefits
    $0 + $14,774 related
    Filer's total
    $0 + $692,385 related

  • ROLAND PRICE

    TREASURER (END 10/11)

    Total calculated
    $675,379
    From this org
    $0
    From related orgs
    $596,123
    Other
    $79,256
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,979 related
    Bonus
    $0 + $287,902 related
    Other
    $0 + $32,242 related
    Deferred
    $0 + $64,858 related
    Nontaxable benefits
    $0 + $14,398 related
    Filer's total
    $0 + $675,379 related

  • PHILLIP GONZALEZ

    DIRECTOR, COMM. INVESTMENTS

    Total calculated
    $261,750
    From this org
    $0
    From related orgs
    $224,116
    Other
    $37,634
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $168,984 related
    Bonus
    $0 + $54,333 related
    Other
    $0 + $799 related
    Deferred
    $0 + $37,525 related
    Nontaxable benefits
    $0 + $109 related
    Filer's total
    $0 + $261,750 related

  • ALRIE DANIELCZYK

    DIR, COMM. & STKHOLDER ENGAGE.

    Total calculated
    $257,235
    From this org
    $0
    From related orgs
    $213,240
    Other
    $43,995
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $162,929 related
    Bonus
    $0 + $48,959 related
    Other
    $0 + $1,352 related
    Deferred
    $0 + $43,889 related
    Nontaxable benefits
    $0 + $106 related
    Filer's total
    $0 + $257,235 related

  • CAITLIN SULLIVAN

    PROGRAM OFFICER

    Total calculated
    $147,893
    From this org
    $0
    From related orgs
    $115,900
    Other
    $31,993
    Hours/week
    50

  • GREG SHELL

    DIRECTOR & CHAIR

    Total calculated
    $13,000
    From this org
    $0
    From related orgs
    $13,000
    Other
    $0
    Hours/week
    2 + 4 related

  • JO ANN SIMONS

    DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • HEIDI BROOKS

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • CHARLOTTE GOLAR RICHIE

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • BENJAMIN PERKINS

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • MARY SKELTON ROBERTS

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • MARYLOU SUDDERS

    DIRECTOR (START 3/9)

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • LEN FISHMAN

    DIRECTOR

    Total calculated
    $3,500
    From this org
    $3,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • MARTY COHEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT LEWIS JR

    DIRECTOR (END 2/15)

    Total calculated
    $0
    Hours/week
    1

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)

FORM 990, SCHEDULE J, PART I, LINE 3
METHOD USED TO ESTABLISH CEO COMPENSATION TUFTS ASSOCIATED HEALTH MAINTENANCE ORGRANIZATION, INC. ("TAHMO") IS THE SOLE CORPORATE MEMBER OF POINT32HEALTH FOUNDATION, INC. TAHMO RELIED ON ITS PARENT AND SOLE CORPORATE MEMBER, POINT32HEALTH, INC., TO ESTABLISH COMPENSATION FOR ITS CEO. THE METHODS USED BY POINT32HEALTH, INC. ARE AS FOLLOWS: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE -WRITTEN EMPLOYMENT AGREEMENT ----------
FORM 990, SCHEDULE J, PART I, LINE 4B
DISCRETIONARY RETIREMENT PLAN THE ORGANIZATION'S LEADERS PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN SPONSORED BY THEIR EMPLOYER, POINT32HEALTH SERVICES, INC., A RELATED PARTY. THE EMPLOYEES AND AMOUNTS LISTED ON SCHEDULE J, PART II, COLUMN C REFLECT EMPLOYER CONTRIBUTIONS TO THE SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
13 November 2024
IRS schema version
2023v5.1
Source object
202433209349304688

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