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Nonprofiteer
← FRIENDS OF BASSETT INC

Form 990 for tax year 2023

Filed by FRIENDS OF BASSETT INC.

Totals

Total revenue
$4,838,799
Total expenses
$2,551,139
Contributions and grants received
$4,720,834
Grants paid
$2,370,013
Program service revenue
$0
Investment income
$86,570
Other revenue
$31,395
Total assets, end of year
$17,282,501
Total liabilities, end of year
$1,259,600
Net assets or fund balances, end of year
$16,022,901
Program services expenses (Part IX)
$2,536,669
Management and general expenses
$0
Fundraising expenses
$14,470
Program service expenses (Part III)
$2,536,669

Program services were 99.4% 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

    $147,292

  • 1f · All other contributions, gifts and grants

    $4,573,542

  • 3 · Investment income

    total $86,570 · excluded $86,570

  • 8a · Fundraising events: gross income

    $90,100

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

    $147,292

  • 8b · Fundraising events: direct expenses

    $58,705

  • 8c · Net income from fundraising events

    total $31,395 · excluded $31,395

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,370,013 · program services $2,370,013

  • 11a · Fees: management

    total $4,640 · program services $4,640

  • 11g · Fees: other

    total $195 · program services $195

  • 12 · Advertising and promotion

    total $78,587 · program services $78,587

  • 17 · Travel

    total $1,295 · program services $1,295

  • 23 · Insurance

    total $2,510 · program services $2,510

  • 24a · Other expenses: OTHER EXPENSES

    total $81,332 · program services $66,862 · fundraising $14,470

  • 24b · Other expenses: BANK FEE CHARGES

    total $12,567 · program services $12,567

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,420,108 · end of year $3,266,335

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $752,285 · end of year $1,034,157

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 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 $4,393

  • 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

    beginning of year $964,499 · end of year $1,169,817

  • 12 · Investments: other securities

    beginning of year $9,159,703 · end of year $11,784,218

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $23,581

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,217,889 · end of year $1,259,600

  • 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

  • 27 · Net assets without donor restrictions

    beginning of year $1,670,599 · end of year $4,096,859

  • 28 · Net assets with donor restrictions

    beginning of year $10,408,107 · end of year $11,926,042

Mission and programs · 2023

Mission

THE PURPOSE OF THE FRIENDS IS TO PROMOTE THE WELFARE OF ALL BASSETT HEALTHCARE NETWORK MEMBERS. BASSETT HEALTHCARE (BHN) IS THE SOLE MEMBER OF THE MARY IMOGENE BASSETT HOSPITAL, BASSETT REGIONAL CORPORATION (BRC), AURELIA OSBORN FOX MEMORIAL HOSPITAL SOCIETY, TEMPLETON FOUNDATION, BASSETT HOSPITAL OF SCHOHARIE COUNTY, O'CONNOR HOSPITAL, VALLEY HEALTH SERVICES, AND LITTLE FALLS HOSPITAL.

  • PROGRAM SERVICE ACCOMPLISHMENTS IN 2023, THE FRIENDS OF BASSETT SOLICITED CONTRIBUTIONS (FOR THE MARY IMOGENE BASSETT HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY, O'CONNOR HOSPITAL, LITTLE FALLS HOSPITAL, VALLEY HEALTH SERVICES, AO FOX HOSPITAL, AND TEMPLETON FOUNDATION) OF APPROXIMATELY $4.7M IN NEW REVENUE FOR THE MEMBERS OF BASSETT HEALTHCARE NETWORK.

    Expenses $2,536,669 · Grants $2,370,013

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

Listed in Part VII

  • Heidi Carmardello

    BOARD MEMBER

    Total calculated
    $172,655
    From this org
    $0
    From related orgs
    $165,468
    Other
    $7,187
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $165,468 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,838 related
    Nontaxable benefits
    $0 + $3,349 related
    Filer's total
    $0 + $172,655 related

  • Caridad Fuertes

    BOARD MEMBER

    Total calculated
    $516,553
    From this org
    $0
    From related orgs
    $505,569
    Other
    $10,984
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $505,569 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $10,984 related
    Filer's total
    $0 + $516,553 related

  • Tommy Ibrahim MD

    EX-OFFICIO

    Total calculated
    $742,362
    From this org
    $0
    From related orgs
    $709,126
    Other
    $33,236
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $708,826 related
    Bonus
    $0 + $300 related
    Other
    $0
    Deferred
    $0 + $19,992 related
    Nontaxable benefits
    $0 + $13,244 related
    Filer's total
    $0 + $742,362 related

  • Reggie Knight MD

    BOARD MEMBER

    Total calculated
    $535,261
    From this org
    $0
    From related orgs
    $504,430
    Other
    $30,831
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $0 + $504,430 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,292 related
    Nontaxable benefits
    $0 + $7,539 related
    Filer's total
    $0 + $535,261 related

  • Dave Casullo

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Terry Fulmer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Hanft

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Peter J Hamilton

    BOARD OFFICER

    Total calculated
    $0
    Hours/week
    0.5

  • Subashini Daniel MD

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Kathleen Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Steven Kroll

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Erna Morgan McReynolds

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Bill Moseley

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • James Patrick

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Curtis Pearsall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Michael Perrino Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Dave Rowley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Albert Weiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • John Zogby

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Arnie Drogen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • Sandra MacDonald

    FORMER BOARD MEMBER

    Total calculated
    $145,113
    From this org
    $0
    From related orgs
    $126,339
    Other
    $18,774
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,339 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,863 related
    Nontaxable benefits
    $0 + $11,911 related
    Filer's total
    $0 + $145,113 related

  • Ben Everidge

    FORMER CHIEF DEVELOPMENT OFFICER

    Total calculated
    $256,675
    From this org
    $0
    From related orgs
    $237,519
    Other
    $19,156
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,519 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,259 related
    Nontaxable benefits
    $0 + $8,897 related
    Filer's total
    $0 + $256,675 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION THE MARY IMOGENE BASSETT HOSPITAL (DBA BASSETT MEDICAL CENTER) USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION FOR SAID INDIVIDUALS: A) COMPENSATION COMMITTEE, B) INDEPENDENT COMPENSATION CONSULTANT, C) WRITTEN EMPLOYMENT CONTRACT, D) COMPENSATION SURVEY OR STUDY AND, E) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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 partnerships

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

  • STAMFORD PROFESSIONAL ASSOCIATES

    RENTAL · NY

  • FIRST COMMUNITY CARE OF BASSETT

    HEALTHCARE · NY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CATSKILL CARE ENTERPRISES

    C · RETAIL PHARMACY & FITNESS CENTER · NY

  • LEATHERSTOCKING PHYSICIANS PC

    C · HEALTHCARE SERVICES · NY

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349310331

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