Form 990 for tax year 2022
Filed by ALICE L WALTON SCHOOL OF MEDICINE.
Totals
- Total revenue
- $10,890,974
- Total expenses
- $11,536,757
- Contributions and grants received
- $10,899,818
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- -$8,844
- Other revenue
- $0
- Total assets, end of year
- $3,481,306
- Total liabilities, end of year
- $989,878
- Net assets or fund balances, end of year
- $2,491,428
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $11,536,757
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
Program services were 0.0% 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
$10,899,818
-
1f · All other contributions, gifts and grants
$0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total -$8,844 · excluded -$8,844
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
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.
-
7 · Other salaries and wages
total $3,597,617 · management and general $3,597,617
-
9 · Other employee benefits
total $218,543 · management and general $218,543
-
10 · Payroll taxes
total $245,294 · management and general $245,294
-
11a · Fees: management
total $2,787,732 · management and general $2,787,732
-
11b · Fees: legal
total $993,820 · management and general $993,820
-
11c · Fees: accounting
total $15,500 · management and general $15,500
-
11g · Fees: other
total $1,978,254 · program services $0 · management and general $1,978,254 · fundraising $0
-
12 · Advertising and promotion
total $122,406 · management and general $122,406
-
13 · Office expenses
total $16,489 · management and general $16,489
-
14 · Information technology
total $36,513 · management and general $36,513
-
16 · Occupancy
total $171,468 · management and general $171,468
-
17 · Travel
total $76,470 · management and general $76,470
-
22 · Depreciation, depletion and amortization
total $16,907 · management and general $16,907
-
23 · Insurance
total $13,105 · management and general $13,105
-
24a · Other expenses: CONSULTING
total $661,026 · management and general $661,026
-
24b · Other expenses: RECRUITMENT, RELOCATION, AND TRAINING
total $337,810 · management and general $337,810
-
24c · Other expenses: ACCREDITAITON EXPENSE
total $142,983 · management and general $142,983
-
24d · Other expenses: SUPPLIES
total $51,580 · management and general $51,580
-
24e · All other expenses
total $53,240 · program services $0 · management and general $53,240 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,639,330 · end of year $2,038,912
-
4 · Accounts receivable
beginning of year $41,695 · end of year $415,288
-
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
end of year $390,871
-
10a · Land, buildings and equipment: cost or other basis
$290,437
-
10b · Land, buildings and equipment: accumulated depreciation
$17,367
-
10c · Land, buildings and equipment, net
beginning of year $1,998,339 · end of year $273,070
-
12 · Investments: other securities
beginning of year $85,000 · end of year $85,000
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $278,165
-
17 · Accounts payable and accrued expenses
beginning of year $636,232 · end of year $697,845
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $292,033
-
27 · Net assets without donor restrictions
beginning of year $3,128,132 · end of year $2,491,428
Mission and programs · 2022
Mission
See Part 1, Line 1 for a description of the organization's mission.
Activities or mission (Part I)
Establishing a school of medicine offering a four-year, medical degree-granting program that integrates conventional medicine with holistic principles and self-care practices, and carrying out related activities promoting whole health practices.
-
The organization is in a start up phase and is in the process of developing its curriculum, establishing school governance structures and obtaining accreditation.
As filed on the 2022 return.
Listed in Part VII
-
Alice L WaltonALICE L WALTON
DIRECTOR, PRESIDENT
- Total calculated
- $0
- Hours/week
- 1 + 19 related
-
Cheryl Pegus MDCHERYL PEGUS MD
DIRECTOR (FROM 7/7/22)
- Total calculated
- $0
- Hours/week
- 0.5
-
James B Young MDJAMES B YOUNG MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Katherine H Knutson MDKATHERINE H KNUTSON MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Lars S NelsonLARS S NELSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Lloyd Minor MDLLOYD MINOR MD
DIRECTOR (FROM 7/7/22)
- Total calculated
- $0
- Hours/week
- 0.5
-
Marc Nivet MDMARC NIVET MD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Patrick Conway MDPATRICK CONWAY MD
DIRECTOR (FROM 12/22/22)
- Total calculated
- $0
- Hours/week
- 0.5
-
Valerie Montgomery Rice MDVALERIE MONTGOMERY RICE MD
DIRECTOR (FROM 12/22/22)
- Total calculated
- $0
- Hours/week
- 0.5
-
Eric HaskelERIC HASKEL
SECRETARY/TREASURER (UNTIL 12/9/22)
- Total calculated
- $0
- Hours/week
- 0.5 + 2 related
-
Philip SigsworthPHILIP SIGSWORTH
CFO & TREASURER (FROM 12/19/22)
- Total calculated
- $0
- Hours/week
- 0.5 + 2 related
-
Richard HosleyRICHARD HOSLEY
SECRETARY (FROM 12/19/22)
- Total calculated
- $0
- Hours/week
- 0.5 + 2 related
-
Sharmila Makhija MDSHARMILA MAKHIJA MD
DEAN & CEO (FROM 5/5/23)
- Total calculated
- $0
- Hours/week
- 40
-
Walter HarrisWALTER HARRIS
CHIEF OPERATING OFFICER
- Total calculated
- $0
- Hours/week
- 0.5 + 40 related
-
Colleen GrochowskiCOLLEEN GROCHOWSKI
SENIOR ASSOCIATE DEAN, ACADEMIC AFFAIRS
- Total calculated
- $336,058
- From this org
- $316,060
- From related orgs
- $0
- Other
- $19,998
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $316,060
- Bonus
- $0
- Other
- $0
- Deferred
- $12,200
- Nontaxable benefits
- $7,798
- Filer's total
- $336,058
-
Ellisa Jones-McKyerELLISA JONES-MCKYER
VICE DEAN FOR FACULTY AFFAIRS & DEI
- Total calculated
- $204,591
- From this org
- $192,263
- From related orgs
- $0
- Other
- $12,328
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $157,263
- Bonus
- $35,000
- Other
- $0
- Deferred
- $4,777
- Nontaxable benefits
- $7,551
- Filer's total
- $204,591
-
Elly XenakisELLY XENAKIS
EXECUTIVE VICE DEAN
- Total calculated
- $476,989
- From this org
- $463,046
- From related orgs
- $0
- Other
- $13,943
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $463,046
- Bonus
- $0
- Other
- $0
- Deferred
- $12,200
- Nontaxable benefits
- $1,743
- Filer's total
- $476,989
-
James RindfleischJAMES RINDFLEISCH
ASSOCIATE DEAN
- Total calculated
- $418,877
- From this org
- $398,877
- From related orgs
- $0
- Other
- $20,000
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $398,877
- Bonus
- $0
- Other
- $0
- Deferred
- $12,200
- Nontaxable benefits
- $7,800
- Filer's total
- $418,877
-
Yerko BerrocalYERKO BERROCAL
ASSISTANT DEAN, SCIENCE OF MEDICINE
- Total calculated
- $138,190
- From this org
- $127,499
- From related orgs
- $0
- Other
- $10,691
- Hours/week
- 40
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
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
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
No itemized grants to organizations 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.
-
501(c)(3) · GRANTMAKING · DE
Directly controlled by NA
-
501(c)(3) · CREATE AND SUPPORT PROGRAMS THAT EXPAND ACCESS TO AMERICAN ART · DE
Directly controlled by NA
-
CRYSTAL BRIDGES MUSEUM OF AMERICAN ART INC
501(c)(3) · COLLECTING AND EXHIBITING OUTSTANDING WORKS OF ART THAT ILLUMINATE AMERICA'S ARTISTIC HERITAGE · AR
Directly controlled by NA
-
HEARTLAND WHOLE HEALTH INSTITUTE
501(c)(3) · SUPPORTING INTEGRATIVE HEALTH AND WELLNESS PROGRAMS AND INITIATIVES FOR THE BENEFIT OF THE PUBLIC · DE
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411359349304266
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