Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $10,547

• 2a · Program service revenue: Home Care

  total $6,858,325 · related or exempt $6,858,325

• 3 · Investment income

  total $66,767 · excluded $66,767

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $68,900 · management and general $68,900

• 7 · Other salaries and wages

  total $4,559,787 · program services $4,008,473 · management and general $551,314

• 9 · Other employee benefits

  total $602,018 · program services $519,549 · management and general $82,469

• 10 · Payroll taxes

  total $355,848 · program services $307,101 · management and general $48,747

• 11a · Fees: management

  total $265,900 · management and general $265,900

• 11b · Fees: legal

  total $9,238 · management and general $9,238

• 11c · Fees: accounting

  total $27,996 · management and general $27,996

• 11f · Fees: investment management

  total $24,505 · management and general $24,505

• 11g · Fees: other

  total $328,745 · program services $251,725 · management and general $77,020

• 12 · Advertising and promotion

  total $3,926 · program services $3,006 · management and general $920

• 13 · Office expenses

  total $165,507 · program services $126,731 · management and general $38,776

• 14 · Information technology

  total $72,784 · program services $55,732 · management and general $17,052

• 16 · Occupancy

  total $102,680 · program services $78,623 · management and general $24,057

• 17 · Travel

  total $160,977 · program services $123,262 · management and general $37,715

• 19 · Conferences, conventions and meetings

  total $6,870 · program services $5,260 · management and general $1,610

• 22 · Depreciation, depletion and amortization

  total $37,314 · program services $31,193 · management and general $6,121

• 23 · Insurance

  total $61,477 · program services $47,074 · management and general $14,403

• 24a · Other expenses: Provision for bad debts

  total $347,538 · program services $347,538

• 24b · Other expenses: Program supplies

  total $329,282 · program services $329,282

• 24c · Other expenses: Patient/VNA Costs

  total $14,473 · program services $14,473

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $114,997 · end of year $12,349

• 2 · Savings and temporary cash investments

  beginning of year $9,574 · end of year $418,293

• 4 · Accounts receivable

  beginning of year $979,811 · end of year $1,363,464

• 9 · Prepaid expenses and deferred charges

  beginning of year $34,446 · end of year $44,533

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

  $633,429

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

  $574,556

• 10c · Land, buildings and equipment, net

  beginning of year $47,620 · end of year $58,873

• 11 · Investments: publicly traded securities

  beginning of year $549,010 · end of year $712,326

• 15 · Other assets

  beginning of year $570,496 · end of year $652,062

• 17 · Accounts payable and accrued expenses

  beginning of year $463,315 · end of year $644,498

• 19 · Deferred revenue

  beginning of year $34,945 · end of year $48,237

• 25 · Other liabilities

  beginning of year $3,911,695 · end of year $5,052,065

• 27 · Net assets without donor restrictions

  beginning of year -$2,733,871 · end of year -$3,177,953

• 28 · Net assets with donor restrictions

  beginning of year $629,870 · end of year $695,053

The filer's explanations (Part III)

Part I, Line 3

The compensation for the Organization's executive director and finance director was established by a related organization, Valley Health Systems, Inc. That organization established their compensation by using a compensation committee and a compensation study. The compensation was also approved by the System's compensation committee.

Part I, Line 4b

Holyoke Medical Center adopted a 457(f) non-qualified deferred compensation plan that became effective as of July 1, 2017. The Plan allows for eligible individuals and employees of the Medical Center to receive benefits under the Plan until the attainment of age 65. Non-elective contributions made for a Plan participant are tracked and will vest separately based on anniversaries of participants' employment. Each contribution will be 0% vested until the participant reaches the end of their second year of employment after each contribution. Each contribution will become 100% vested as of the last day of the 2nd year of a participant's employment, if the participant is still employed on that date. Only eligible employees are participants in the plan, and the plan does not allow for employee elective deferrals or employer matches. For the 2023 Tax Year, the following listed individuals received 457(f) contributions under the plan: - Spiros Hatiras, $51,847. - Carl Cameron, $29,705. And, - Dean Vitarisi, $23,022.