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Nonprofiteer
← ST LUKES CORNWALL HEALTH SYSTEM FOUNDATION INC

Form 990 for tax year 2023

Filed by ST LUKES CORNWALL HEALTH SYSTEM FOUNDATION INC.

Totals

Total revenue
$2,632,446
Total expenses
$4,739,385
Contributions and grants received
$2,674,131
Grants paid
$4,478,122
Program service revenue
$0
Investment income
$11,912
Other revenue
-$53,597
Total assets, end of year
$2,539,037
Total liabilities, end of year
$373,196
Net assets or fund balances, end of year
$2,165,841
Program services expenses (Part IX)
$4,478,122
Management and general expenses
$0
Fundraising expenses
$261,263
Program service expenses (Part III)
$4,478,122

Program services were 94.5% 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

    $369,597

  • 1f · All other contributions, gifts and grants

    $2,304,534

  • 1g · Noncash contributions included above

    $500,486

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $11,912 · excluded $11,912

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: gross income

    $75,930

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

    $369,597

  • 8b · Fundraising events: direct expenses

    $147,522

  • 8c · Net income from fundraising events

    total -$71,592 · excluded -$71,592

  • 9a · Gaming: gross income

    $27,995

  • 9b · Gaming: direct expenses

    $10,000

  • 9c · Net income from gaming

    total $17,995 · excluded $17,995

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,468,622 · program services $4,468,622

  • 2 · Grants to domestic individuals

    total $9,500 · program services $9,500

  • 7 · Other salaries and wages

    total $124,342 · fundraising $124,342

  • 9 · Other employee benefits

    total $29,842 · fundraising $29,842

  • 11g · Fees: other

    total $3,200 · program services $0 · management and general $0 · fundraising $3,200

  • 13 · Office expenses

    total $41,983 · fundraising $41,983

  • 17 · Travel

    total $2,579 · fundraising $2,579

  • 24a · Other expenses: MISC FUNDRAISING EXPENSES

    total $40,914 · fundraising $40,914

  • 24b · Other expenses: EMPLOYEE RECOGNITION

    total $18,403 · fundraising $18,403

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,495,071 · end of year $1,151,824

  • 3 · Pledges and grants receivable

    beginning of year $49,474 · end of year $43,633

  • 4 · Accounts receivable

    end of year $18,438

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,483 · end of year $20,802

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $1,304,340

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $36,921

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $298,417 · end of year $336,275

  • 27 · Net assets without donor restrictions

    beginning of year $357,718 · end of year $1,355,064

  • 28 · Net assets with donor restrictions

    beginning of year $3,907,893 · end of year $810,777

Mission and programs · 2023

Mission

THE MISSION OF ST. LUKE'S CORNWALL HOSPITAL FOUNDATION, INC. IS TO FINANCIALLY SUPPORT HEALTHCARE INITIATIVES OF THE ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFIT THE RESIDENTS OF THE MID-HUDSON VALLEY. THE ST. LUKE'S CORNWALL HOSPITAL FOUNDATION, INC. ACCOMPLISHES THIS MISSION BY: (1) DIRECTING DEVELOPMENT ACTIVITIES, INCLUDING INVESTMENTS TO SUPPORT CAPITAL NEEDS OF ST. LUKE'S CORNWALL HOSPIAL AND INNOVATIVE, EFFECTIVE PROGRAMS WHICH IMPROVE COMMUNITY RESIDENT'S ACCESS TO QUALITY HEALTHCARE SERVICES AND INFORMATION; AND (2) PROVIDING ADVOCACY TO ENSURE THE AVAILABILITY OF QUALITY MEDICAL CARE.

Activities or mission (Part I)

TO FINANCIALLY SUPPORT HEALTHCARE INITIATIVES OF THE ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFIT THE RESIDENTS OF THE MID-HUDSON VALLEY.

  • THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR HEALTHCARE INITIATIVES OF ST. LUKE'S CORNWALL HOSPITAL WHOSE SERVICES BENEFITS THE RESIDENTS OF THE MID-HUDSON VALLEY. THE FOUNDATION IS INVOLVED IN DEVELOPMENT ACTIVITIES TO SUPPORT THE CAPITAL NEEDS OF ST LUKE'S CORNWALL HOSPITAL, IMPROVE COMMUNITY RESIDENT'S ACCESS TO QUALITY HEALTHCARE SERVICES AND INFORMATION AND PROVIDE ADVOCACY TO ENSURE THE AVAILABILITY OF QUALITY MEDICAL CARE.

    Expenses $4,478,122 · Grants $4,478,122

As filed on the 2023 return.

Listed in Part VII

  • Daniel Maughan RN

    PRESIDENT & CEO

    Total calculated
    $862,346
    From this org
    $0
    From related orgs
    $846,611
    Other
    $15,735
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $710,123 related
    Bonus
    $0 + $122,230 related
    Other
    $0 + $14,258 related
    Deferred
    $0 + $13,743 related
    Nontaxable benefits
    $0 + $1,992 related
    Filer's total
    $0 + $862,346 related

  • Jeffrey Degen MD

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jill Cappa

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Michael Kirtio

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Robert E Hatfield

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Thomas J Gibney

    BOARD TREASURER/SVP & CFO

    Total calculated
    $668,392
    From this org
    $0
    From related orgs
    $598,956
    Other
    $69,436
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $521,432 related
    Bonus
    $0 + $70,000 related
    Other
    $0 + $7,524 related
    Deferred
    $0 + $22,010 related
    Nontaxable benefits
    $0 + $47,426 related
    Filer's total
    $0 + $668,392 related

  • Charles Frankel Esq

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Debra Stillman

    DIRECTOR (RESIGNED 6/1/2023)

    Total calculated
    $0
    Hours/week
    1

  • Donna M Conklin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gregory T Debenedictus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Crinieri

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph B Steffy IV

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Linda Dombroski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katherine M Dabroski

    EXECUTIVE DIRECTOR (ENDED 4/30/2023)

    Total calculated
    $287,002
    From this org
    $0
    From related orgs
    $242,195
    Other
    $44,807
    Hours/week
    4 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $216,709 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $486 related
    Deferred
    $0 + $10,227 related
    Nontaxable benefits
    $0 + $34,580 related
    Filer's total
    $0 + $287,002 related

  • Nicholas Shannon

    EXECUTIVE DIRECTOR (STARTED 5/1/2023)

    Total calculated
    $93,820
    From this org
    $0
    From related orgs
    $80,516
    Other
    $13,304
    Hours/week
    55

  • Joan Cusack-McGuirk

    FORMER OFFICER

    Total calculated
    $156,250
    From this org
    $0
    From related orgs
    $156,250
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $156,250 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $156,250 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

  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
DURING 2023, JOAN CUSACK-MCGUIRK, A FORMER OFFICER, WAS PAID $156,250 IN SEVERANCE FROM ST. LUKE'S CORNWALL HOSPITAL. AS PART OF HER SEVERANCE AGREEMENT, SHE WAS REQUIRED TO PERFORM TRANSITIONAL SERVICES FOR THE HOSPITAL.
Schedule J, Part I, Line 7 Non-fixed payments
AN ANNUAL INCENTIVE AWARD PAID BY THE ORGANIZATION TO AN OFFICER WAS BASED ON MANAGEMENT DISCRETION.

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.

  • UNIVERSITY BEHAVIORAL ASSOCIATES INC

    C Corporation · MGMT SERVICES · NY · controlled entity

    Directly controlled by NA

  • THE MONTEFIORE IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS EAST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MMC GI HOLDINGS WEST INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE BEHAVIORAL CARE IPA NO 1 INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • BRONX ACCOUNTABLE CARE NETWORK IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE CONSOLIDATED VENTURES INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INSURANCE COMPANY INC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • HUDSON VALLEY IPA INC

    C Corporation · INTEG PROVR ASSOC · NY · controlled entity

    Directly controlled by NA

  • MONTEFIORE INNOVATIONS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • HIGHLAND MEDICAL PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL DIAGNOSTIC SVCS PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • CANCER AND BLOOD MEDICAL SERV OF NY PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MANAGEMENT CO INc

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WPHC BUILDING CORP

    C Corporation · PROPERTY HOLDING · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUST (4)

    Trust · CHAR REMR TRUST · NY · controlled entity

    Directly controlled by NA

  • CRHT ACQUISITION INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • QUANTUM BIOTHERAPEUTICS LLC

    INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WHITE PLAINS PHYSICIAN MEDICAL SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD MEDICAL SERVICES PC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

  • EAST POST ROAD PHYSICIAN SERV PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • DAVIS AVENUE MEDICAL SERVICES PC

    C Corporation · INACTIVE · NY · controlled entity

    Directly controlled by NA

  • WPH HOLDINGS INC

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • INNOVATOR ACQUSITION CORP

    C Corporation · HOLDING COMPANY · NY · controlled entity

    Directly controlled by NA

  • PY DEVELOPMENT CORP

    C Corporation · REIT · NY · controlled entity

    Directly controlled by NA

  • SPECIALTY SURGEONS OF CONNECTICUT PC

    C Corporation · HEALTHCARE SERV. · CT · controlled entity

    Directly controlled by NA

  • CMO THE CARE MANAGEMENT COMPANY LLC

    C Corporation · CARE MANAGMENT · NY · controlled entity

    Directly controlled by NA

  • Hudson River Medical Practice PLLC

    C Corporation · HEALTHCARE SERV. · NY · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349305317

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