Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $352,824

• 2a · Program service revenue: RENTAL INCOME

  total $217,488 · related or exempt $217,488

• 3 · Investment income

  total $2,945 · excluded $2,945

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

  other assets $3,571

• 7c · Gain or loss

  other assets -$3,571

• 7d · Net gain or loss

  total -$3,571 · related or exempt -$3,571

• 11a · Other revenue: TENANT CHARGES

  total $1,380 · related or exempt $1,380

• 11e · Other revenue, total

  $1,380

Functional expenses

Part IX, the statement of functional expenses.

• 11a · Fees: management

  total $29,988 · management and general $29,988

• 11b · Fees: legal

  total $50 · program services $50

• 11c · Fees: accounting

  total $16,537 · management and general $16,537

• 12 · Advertising and promotion

  total $1,930 · program services $1,930

• 13 · Office expenses

  total $13,254 · program services $13,254

• 16 · Occupancy

  total $257,569 · program services $257,569

• 19 · Conferences, conventions and meetings

  total $1,122 · program services $1,086 · management and general $36

• 22 · Depreciation, depletion and amortization

  total $165,587 · program services $165,587

• 24a · Other expenses: MGMT CO EMPLOYEE CHARGE

  total $129,076 · program services $129,076

• 24b · Other expenses: BAD DEBTS

  total $645 · program services $645

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $99,970 · end of year $14,637

• 4 · Accounts receivable

  beginning of year $4,549 · end of year $28,010

• 9 · Prepaid expenses and deferred charges

  beginning of year $340 · end of year $350

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

  $6,310,200

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

  $2,415,469

• 10c · Land, buildings and equipment, net

  beginning of year $3,906,652 · end of year $3,894,731

• 13 · Investments: program-related

  beginning of year $99,931 · end of year $110,831

• 15 · Other assets

  beginning of year $41,880 · end of year $21,831

• 17 · Accounts payable and accrued expenses

  beginning of year $99,210 · end of year $64,401

• 19 · Deferred revenue

  beginning of year $2,559 · end of year $157

• 25 · Other liabilities

  beginning of year $19,580 · end of year $18,551

• 27 · Net assets without donor restrictions

  beginning of year $4,031,973 · end of year $3,987,281

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:

DETERMINATION OF COMPENSATION OF ORGANIZATION'S CEO/EXECUTIVE DIRECTOR: COMPENSATION FOR THE CORPORATION'S CEO AND OTHER OFFICERS OR KEY EMPLOYEES IS DETERMINED IN ACCORDANCE WITH WRITTEN POLICIES AND PROCEDURES ADOPTED BY THE BOARD OF DIRECTORS OF PRESENCE HEALTH NETWORK, THE ULTIMATE PARENT OF THE CORPORATION. SUCH POLICIES AND PROCEDURES ARE APPLIED BY THE HUMAN RESOURCES COMMITTEE OF PRESENCE HEALTH NETWORK, WHICH CONSISTS WHOLLY OF INDEPENDENT DIRECTORS. PRESENCE HEALTH NETWORK USES MARKET DATA COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT TO ESTABLISH BASE SALARIES AND TOTAL CASH COMPENSATION OPPORTUNITIES. THE HUMAN RESOURCES COMMITTEE MONITORS EXECUTIVE TOTAL COMPENSATION, ANNUALLY REVIEWING AND APPROVING COMPENSATION CHANGES FOR EACH EXECUTIVE, AND REGULARLY REPORTING ITS ACTIVITIES TO THE BOARD.

SCHEDULE J, PART I, LINE 4A:

SEVERANCE PAYMENTS: PRESENCE HAS THREE SEVERANCE PLANS DEPENDING UPON LEVEL. THESE PLANS ALLOW INDIVIDUALS WHOSE JOBS HAVE BEEN ELIMINATED AND WHO HAVE NOT BEEN ABLE TO FIND A SIMILAR POSITION WITHIN THE SYSTEM TIME TO TRANSITION. THE NUMBER OF WEEKS OF WAGE CONTINUATION ARE BASED UPON LENGTH OF SERVICE. THE PLANS ARE NOT FUNDED.

SCHEDULE J, PART I, QUESTION 4B:

PAYMENTS FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: IN ORDER TO ENHANCE THE ABILITY OF PRESENCE HEALTH TO ATTRACT AND RETAIN QUALIFIED MANAGEMENT PERSONNEL BY PROVIDING ELIGIBLE EXECUTIVES WITH ADDITIONAL RETIREMENT BENEFITS ON A DEFERRED BASIS, PRESENCE HEALTH NETWORK MAINTAINS AN UNFUNDED SUPPLEMENTAL RETIREMENT PLAN (THE "PLAN") FOR A SELECT GROUP OF MANAGEMENT, WHICH IS INTENDED TO COMPLY WITH SECTION 457(F), AND SECTION 409A OF THE INTERNAL REVENUE CODE. THE PLAN, PRESENCE HEALTH NETWORK CREDITS TO SUCH ELIGIBLE EXECUTIVE'S RETIREMENT ACCOUNT AN AMOUNT BASED ON A PERCENTAGE OF SALARY. EARNINGS AND/OR LOSSES ON INVESTMENTS ARE CREDITED AT A RATE EQUAL TO THE RATE OF RETURN OVER THE SAME PERIOD ON INVESTMENT OPTIONS SLECTED BY THE ELIGIBLE EXECUTIVE. ELIGIBLE EXECUTIVES ARE ENTITLED TO RECEIVE BENEFITS ON THE EARLIEST OF (I) JANUARY 1 OF THE THIRD CALENDAR YEAR BEGINNING AFTER THE YEAR IN WHICH SUCH CONTRIBUTION IS CREDITED, (II) ATTAINING AGE 62, OR (III) ATTAINING THE AGE OF 60 IF THE ELIGIBLE EXECUTIVE HAS COMPLETED TEN (10) YEARS OF SERVICE.

Related partnerships

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

• ALEXIAN REHABILITATION SERVICES LLC

  REHABILITATION HOSPITAL · IL

• BONAVENTURE MEDICAL FOUNDATION LLC

  MANAGES MANAGED CARE CONTRACTS · DE

• BELMONTHARLEM SURGERY CENTER LLC

  MEDICAL SERVICE · IL

• ALVERNO CLINICAL LABORATORIES LLC

  MEDICAL SERVICE · IN

• PRESENCE LAKESHORE GASTROENTEROLOGY LLC

  MEDICAL SERVICE · IL

• PROFESSIONAL CLINICAL LABORATORIES LLC

  MEDICAL SERVICE · IN

Related corporations and trusts

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

• THELEN CORPORATION

  C · OWNS/LEASES PROPERTY; JOINT VENTURE PARTNER · IL

• ALEXIAN BROTHERS HEALTH PROVIDERS ASSOCIATION INC

  C · MESSENGER MODEL IPA · IL

• AMITA HEALTH CLINICALLY INTEGRATED NETWORK LLC

  C · MANAGED CARE · IL

• PRESENCE SERVICE CORPORATION

  C · MEDICAL · IL

• PRESENCE VENTURES INC

  C · MEDICAL · IL