Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $633,456

• 1f · All other contributions, gifts and grants

  $541,317

• 1g · Noncash contributions included above

  $139,924

• 2a · Program service revenue: RENTAL INCOME

  total $519,098 · related or exempt $519,098

• 3 · Investment income

  total $206,409 · excluded $206,409

• 7a · Gross sales of assets other than inventory

  securities $4,363

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

  securities $0

• 7c · Gain or loss

  securities $4,363

• 7d · Net gain or loss

  total $4,363 · excluded $4,363

• 8a · Fundraising events: gross income

  $181,391

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

  $633,456

• 8b · Fundraising events: direct expenses

  $252,409

• 8c · Net income from fundraising events

  total -$71,018 · excluded -$71,018

• 9a · Gaming: gross income

  $13,820

• 9b · Gaming: direct expenses

  $5,520

• 9c · Net income from gaming

  total $8,300 · excluded $8,300

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $294,200 · program services $294,200

• 2 · Grants to domestic individuals

  total $124,027 · program services $124,027

• 11b · Fees: legal

  total $1,509 · program services $1,509

• 11c · Fees: accounting

  total $20,000 · management and general $20,000

• 11e · Fees: professional fundraising services

  total $81,000 · fundraising $81,000

• 11g · Fees: other

  total $21,865 · program services $4,278 · management and general $17,587

• 12 · Advertising and promotion

  total $16,370 · program services $16,370

• 13 · Office expenses

  total $31,825 · program services $23,441 · management and general $8,384

• 14 · Information technology

  total $39,471 · management and general $39,471

• 16 · Occupancy

  total $30,125 · program services $8,141 · management and general $21,984

• 17 · Travel

  total $1,460 · program services $1,460

• 19 · Conferences, conventions and meetings

  total $30,666 · program services $30,666

• 22 · Depreciation, depletion and amortization

  total $332,414 · program services $332,414

• 23 · Insurance

  total $2,647 · management and general $2,647

• 24a · Other expenses: REPAIRS & MAINTENANCE

  total $156,559 · program services $156,559

• 24b · Other expenses: DIRECT OPERATING EXPENS

  total $2,297 · program services $2,297

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $205,172 · end of year $126,605

• 2 · Savings and temporary cash investments

  beginning of year $4,241,647 · end of year $5,577,776

• 3 · Pledges and grants receivable

  beginning of year $239,708 · end of year $94,938

• 9 · Prepaid expenses and deferred charges

  beginning of year $123,440 · end of year $161,814

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

  $10,301,699

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

  $3,519,217

• 10c · Land, buildings and equipment, net

  beginning of year $7,112,421 · end of year $6,782,482

• 11 · Investments: publicly traded securities

  beginning of year $8,919 · end of year $0

• 12 · Investments: other securities

  beginning of year $0

• 15 · Other assets

  beginning of year $110,677 · end of year $117,138

• 17 · Accounts payable and accrued expenses

  beginning of year $112,868 · end of year $195,693

• 25 · Other liabilities

  beginning of year $133,420 · end of year $213,524

• 27 · Net assets without donor restrictions

  beginning of year $8,844,240 · end of year $9,310,836

• 28 · Net assets with donor restrictions

  beginning of year $2,951,456 · end of year $3,140,700

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATION PAID TO THE CEO WAS DETERMINED BY A RELATED ENTITY, ELIZABETH SETON PEDIATRIC CENTER, USING THE FOLLOWING PROCESS: EXECUTIVE COMPENSATION, INCLUDING SALARY, BONUSES, AND BENEFITS, FOR THE OFFICERS AND OTHER KEY EMPLOYEES WILL BE REVIEWED AND RECOMMENDED BY A SUB-COMMITTEE OF THE BOARD OF DIRECTORS. NO MEMBER OF THE SUB-COMMITTEE WILL PARTICIPATE IN OR ECONOMICALLY BENEFIT FROM THE PROPOSED COMPENSATION ARRANGEMENT OR BE A FAMILY MEMBER OF THE EMPLOYEE, OR BE IN AN EMPLOYMENT RELATIONSHIP WITH RESPECT TO THE PARTICULAR EMPLOYEE UNDER WHICH THE MEMBER IS SUBJECT TO DIRECTION OR CONTROL BY THE EMPLOYEE, OR HAVE A MATERIAL FINANCIAL INTEREST THAT WILL BE AFFECTED BY THE PROPOSED COMPENSATION PACKAGE, OR RECEIVE ECONOMIC BENEFITS THAT ARE SUBJECT TO APPROVAL BY THE EMPLOYEE. RECOMMENDATIONS WILL THEN BE FURNISHED TO THE VP OF TALENT MANAGEMENT FOR REVIEW AND PROCESSING. PRIOR TO MAKING ITS DECISION, THE SUB-COMMITTEE WILL OBTAIN RELEVANT INFORMATION SUFFICIENT FOR DETERMINING THAT THE COMPENSATION ARRANGEMENT IN ITS ENTIRETY IS REASONABLE, SUCH AS THE COMPENSATION PACKAGE OF SIMILARLY SITUATED TAX-EXEMPT OR TAXABLE ORGANIZATION PACKAGE OF SIMILAR POSITIONS, THE AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREA, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS, OR ACTUAL WRITTEN OFFERS FROM SIMILAR INSTITUTIONS FOR THE SERVICES OF THE EMPLOYEE. THE SUBCOMMITTEE WILL ACCURATELY RECORD MINUTES AND DOCUMENT THE DETERMINATION OF ANY KEY EMPLOYEE COMPENSATION PACKAGE BEFORE THE LATTER OF THE NEXT SUB-COMMITTEE OR 60 DAYS AFTER THE FINAL ACTION IS TAKEN. THE DOCUMENTATION WILL INCLUDE THE TERMS OF THE COMPENSATION PACKAGE AND THE DATE IT WAS APPROVED, THE NAME OF THE SUB-COMMITTEE MEMBERS WHO WERE PRESENT DURING THE DISCUSSION AND THOSE WHO VOTED IN THE ARRANGEMENT WITH THE COMPENSATION RATE, THE COMPARABLE DATA OBTAINED, AND RELIED UPON BY THE SUB-COMMITTEE, AND HOW THE DATA WAS OBTAINED, ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE TRANSACTION BY ANYONE WHO IS A REGULAR MEMBER OF THE SUB-COMMITTEE BUT WHO HAD A CONFLICT OF INTEREST AND REMOVED HIMSELF FROM THE ACTIONS OF THE SUB-COMMITTEE, AND IF APPLICABLE, THE REASON WHY THE SUB-COMMITTEE DETERMINED A REASONABLE COMPENSATION RATE TO BE HIGHER OR LOWER THAN THE COMPENSATION PACKAGE OF COMPARABLE PUBLIC CHARITIES. NO COMPENSATION OF ANY KIND SHALL BE PAID TO ELIZABETH SETON'S BOARD OF DIRECTORS. AN INDEPENDENT THIRD PARTY CONSULTANT WAS ENGAGED TO PERFORM THE EXECUTIVE COMPENSATION REVIEW, PRESENT FINDINGS TO THE COMPENSATION COMMITTEE OF THE BOARD. THE INDEPENDENT EXECUTIVE COMPENSATION REVIEW IS PERFORMED PERIODICALLY.