Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $87,748

• 1d · Related organizations

  $191,929

• 1f · All other contributions, gifts and grants

  $14,154,876

• 3 · Investment income

  total $17,617,008 · unrelated business -$2,223 · excluded $17,619,231

• 8a · Fundraising events: gross income

  $0

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

  $87,748

• 8b · Fundraising events: direct expenses

  $81,355

• 8c · Net income from fundraising events

  total -$81,355 · excluded -$81,355

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $19,911,756 · program services $19,911,756

Balance sheet

Part X, book values.

• 3 · Pledges and grants receivable

  beginning of year $18,189,562 · end of year $9,724,350

• 9 · Prepaid expenses and deferred charges

  beginning of year $28,880 · end of year $28,880

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

  $4,015,360

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

  $581,485

• 10c · Land, buildings and equipment, net

  beginning of year $3,443,776 · end of year $3,433,875

• 11 · Investments: publicly traded securities

  beginning of year $130,517,235 · end of year $140,238,363

• 12 · Investments: other securities

  beginning of year $5,948,274 · end of year $6,553,811

• 15 · Other assets

  beginning of year $7,827,829 · end of year $8,232,647

• 17 · Accounts payable and accrued expenses

  beginning of year $47,376 · end of year $15,667

• 25 · Other liabilities

  beginning of year $18,051,420 · end of year $5,570,779

• 27 · Net assets without donor restrictions

  beginning of year $12,001,041 · end of year $13,523,794

• 28 · Net assets with donor restrictions

  beginning of year $135,855,719 · end of year $149,101,686

The filer's explanations (Part III)

PART I, LINE 3

AKRON CHILDREN'S HOSPITAL FOUNDATION RELIED ON THE RELATED ORGANIZATION, CHMCA, TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON'S EXECUTIVE TOTAL COMPENSATION PROGRAM IS ULTIMATELY GOVERNED BY THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS. AN INDEPENDENT SALARY SURVEY WAS LAST COMPLETED IN 2024.

PART I, LINE 4B

THE FOLLOWING INDIVIDUALS BECAME PARTICIPANTS IN SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS DURING 2018, WHEREBY THEY BECOME VESTED PER THE TERMS OF THEIR EMPLOYMENT AGREEMENT. CHMCA IS ACCRUING FOR THE BENEFIT THAT WILL OCCUR, THEREFORE THESE AMOUNTS ARE INCLUDED IN THEIR DEFERRED COMPENSATION. DISTRIBUTIONS WERE MADE IN 2024 IN THE FOLLOWING AMOUNTS: MICHELE BROWN - $130,487 CHRISTOPHER GESSNER - $0 CHMCA HAS A SUPPLEMENTAL NONQUALIFIED PLAN OPEN TO SELECTED EMPLOYEES WHEN WAGES EXCEED THE MAXIMUM THRESHOLD FOR THE QUALIFIED RETIREMENT PLANS. THE AMOUNTS ARE CALCULATED IN THE FOLLOWING YEAR OF EARNINGS AND EITHER PAID TO THE EMPLOYEE IF THEY ARE VESTED AS TAXABLE INCOME OR PUT INTO THE PLAN UNTIL VESTED AND THEN PAID.

PART I, LINE 5

AKRON CHILDREN'S HOSPITAL FOUNDATION RELIED ON THE RELATED ORGANIZATION, CHMCA, TO ESTABLISH THE BONUSES OF THE TOP MANAGEMENT OFFICIALS. CHMCA DOES HAVE CONTRACTS WITH CERTAIN PHYSICIANS THAT EARN BONUSES BASED ON WORK RELATIVE VALUE UNITS (WRVU'S). PHYSICIANS WORK RVU: THE RELATIVE LEVEL OF TIME, SKILL, TRAINING, AND INTENSITY TO PROVIDE A GIVEN SERVICE. EACH CURRENT PROCEDURAL TERMINOLOGY (CPT) CODE IS TARGETED FOR REVIEW AT LEAST EVERY FIVE YEARS TO DETERMINE THE WORK RVU FOR A PARTICULAR SERVICE. A CODE WITH A HIGHER RVU WORK TAKES MORE TIME, MORE INTENSITY OR SOME COMBINATION OF THE TWO.

PART I, LINE 6

AKRON CHILDREN'S HOSPITAL FOUNDATION RELIED ON THE RELATED ORGANIZATION, CHMCA, TO ESTABLISH THE BONUSES OF THE TOP MANAGEMENT OFFICIALS. CHMCA BASES A PORTION OF BONUSES ON THE NET EARNINGS OF CHMCA.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• GAMUT QUALITY IMPROVEMENT COLLABORATIVE LLC

  CONTRACT MANAGEMENT · OH

• GALLIARD BROAD MARKET CORE FUND

  INVESTMENTS · NC