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Nonprofiteer
← PORTAGE LEGACY INC F/K/A PORTAGE HEALTH INC

Form 990 for tax year 2022

Filed by PORTAGE LEGACY INC F/K/A PORTAGE HEALTH INC.

Totals

Total revenue
-$464,638
Total expenses
$1,568,355
Contributions and grants received
$0
Grants paid
$1,555,540
Program service revenue
$0
Investment income
-$464,638
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,555,540
Management and general expenses
$12,815
Fundraising expenses
$0
Program service expenses (Part III)
$1,555,540

Program services were 99.2% 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.

  • 3 · Investment income

    total $1,376 · excluded $1,376

  • 7a · Gross sales of assets other than inventory

    securities $198,500

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

    securities $664,514

  • 7c · Gain or loss

    securities -$466,014

  • 7d · Net gain or loss

    total -$466,014 · excluded -$466,014

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,555,540 · program services $1,555,540

  • 11b · Fees: legal

    total $1,380 · management and general $1,380

  • 11c · Fees: accounting

    total $900 · management and general $900

  • 23 · Insurance

    total $10,485 · management and general $10,485

  • 24a · Other expenses: BANK SERVICE CHARGES

    total $30 · management and general $30

  • 24b · Other expenses: LICENSES & PERMITS

    total $20 · management and general $20

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,360,466

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,013

  • 15 · Other assets

    beginning of year $664,514

  • 27 · Net assets without donor restrictions

    beginning of year $2,032,993

Mission and programs · 2022

Mission

N/A

Activities or mission (Part I)

THE ORGANIZATION CEASED HOSPITAL OPERATIONS AS OF DECEMBER 1, 2013. CURRENT ORGANIZATION IS OPERATING AS A RUNOUT CORPORATION TO SETTLE ANY RECEIVABLE/LIABILITIES THAT WERE NOT PURCHASED BY LIFEPOINT HOSPITALS AND DISTRIBUTE REMAINING ASSETS TO ORGANIZATIONS THAT CONTRIBUTE TO THE HEALTH OF THE COMMUNITY.

  • THE ORGANIZATION CEASED HOSPITAL OPERATIONS AS OF DECEMBER 1, 2013. CURRENT ORGANIZATION OPERATED AS A RUNOUT CORPORATION TO SETTLE ANY RECEIVABLE/LIABILITIES THAT WERE NOT PURCHASED BY LIFEPOINT HOSPITALS AND DISTRIBUTE REMAINING ASSETS TO ORGANIZATIONS THAT CONTRIBUTE TO THE HEALTH OF THE COMMUNITY. THE CORPORATION HAS DISSOLVED EFFECTIVE 12/31/2022 AND ANY REMAINING ASSETS HAVE BEEN DISTRIBUTED AS REPORTED ON SCHEDULE I.

    Expenses $1,555,540 · Grants $1,555,540

As filed on the 2022 return.

Listed in Part VII

  • James Bogan

    PRESIDENT

    Total calculated
    $0

  • Susan Binkley

    TREASURER

    Total calculated
    $0

  • Tim Baroni

    DIRECTOR

    Total calculated
    $0

  • Nicholas Stevens

    DIRECTOR

    Total calculated
    $0

  • Michele Gagnon

    DIRECTOR

    Total calculated
    $0

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.

Grants on this return

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

1 distribution to a recipient named as a person, $1,555,540. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202341299349303479

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