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← THE MEMORIAL HEALTH FOUNDATION INC RETIRED EMPLOYEE BENEFIT PLAN

Form 990 for tax year 2024

Filed by THE MEMORIAL HEALTH FOUNDATION INC RETIRED EMPLOYEE BENEFIT PLAN.

Totals

Total revenue
$8,005,274
Total expenses
$7,182,761
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$646,692
Investment income
$7,358,582
Other revenue
$0
Total assets, end of year
$85,447,496
Total liabilities, end of year
$7,738,197
Net assets or fund balances, end of year
$77,709,299
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: PARTICIPANT CO-PAY

    total $646,692 · related or exempt $646,692

  • 3 · Investment income

    total $1,218,787 · excluded $1,218,787

  • 7a · Gross sales of assets other than inventory

    securities $29,474,078

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

    securities $23,334,283

  • 7c · Gain or loss

    securities $6,139,795

  • 7d · Net gain or loss

    total $6,139,795 · excluded $6,139,795

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,865,079

  • 11a · Fees: management

    total $157,300

  • 11c · Fees: accounting

    total $27,000

  • 11f · Fees: investment management

    total $95,227

  • 11g · Fees: other

    total $38,155

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,329,163 · end of year $3,121,299

  • 4 · Accounts receivable

    beginning of year $798,544 · end of year $646,692

  • 11 · Investments: publicly traded securities

    beginning of year $82,919,304 · end of year $81,679,505

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,413,099 · end of year $7,738,197

  • 27 · Net assets without donor restrictions

    beginning of year $76,633,912 · end of year $77,709,299

Mission and programs · 2024

Mission

To provide a non-contributory defined health and welfare plan for eligible participants and retirees.

Activities or mission (Part I)

Non-Contributory Defined Benefit Health and Welfare Plan

  • Non-Contributory Defined Benefit Health and Welfare Plan

As filed on the 2024 return.

Listed in Part VII

  • Laura Ann Kelly

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Brian Gragnolati

    President and CEO

    Total calculated
    $11,501,308
    From this org
    $0
    From related orgs
    $9,720,812
    Other
    $1,780,496
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $3,320,521 related
    Bonus
    $0 + $5,139,690 related
    Other
    $0 + $1,260,601 related
    Deferred
    $0 + $1,711,138 related
    Nontaxable benefits
    $0 + $69,358 related
    Filer's total
    $0 + $11,501,308 related

  • ROBERT E McCRACKEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Michael Walter

    SVP- Chief Financial Ofice

    Total calculated
    $1,872,440
    From this org
    $0
    From related orgs
    $1,615,288
    Other
    $257,152
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $982,449 related
    Bonus
    $0 + $592,546 related
    Other
    $0 + $40,293 related
    Deferred
    $0 + $211,325 related
    Nontaxable benefits
    $0 + $45,827 related
    Filer's total
    $0 + $1,872,440 related

  • Kevin Lenahan

    EVP-Chief Business & Strat

    Total calculated
    $3,385,858
    From this org
    $0
    From related orgs
    $2,924,716
    Other
    $461,142
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,415,590 related
    Bonus
    $0 + $1,094,600 related
    Other
    $0 + $414,526 related
    Deferred
    $0 + $423,493 related
    Nontaxable benefits
    $0 + $37,649 related
    Filer's total
    $0 + $3,385,858 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 4b
2024 Supplemental Executive Retirement Plan (SERP) Earned Credits Atlantic Health implemented a non-qualified Supplemental Executive Retirement Plan (SERP) paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. Brian Gragnolati $1,723,038 Michael Walter 193,222 Kevin Lenahan 385,483 The above amounts represent earned credits which have not vested and were not included in theor respective 2024 W-2's compensation. However, the earned credit was included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2024 IRS 990 tax return per IRS guidance. Once the Trustees meet the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. 2024 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following officers received taxable SERP distributions during 2023 based on the vesting criteria of the plan document. These taxable SERP distributions were included in their respective 2024 W-2s and are reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Brian Gragnolati $1,112,605 Kevin Lenahan 357,274

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202513179349308306

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