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Nonprofiteer
← BELOIT HEALTH SYSTEM FOUNDATION INC

Form 990 for tax year 2023

Filed by BELOIT HEALTH SYSTEM FOUNDATION INC.

Totals

Total revenue
$2,692,692
Total expenses
$2,670,961
Contributions and grants received
$1,282,135
Grants paid
$0
Program service revenue
$0
Investment income
$1,410,557
Other revenue
$0
Total assets, end of year
$13,632,479
Total liabilities, end of year
$687,177
Net assets or fund balances, end of year
$12,945,302
Program services expenses (Part IX)
$2,220,340
Management and general expenses
$4,656
Fundraising expenses
$445,965
Program service expenses (Part III)
$2,220,340

Program services were 83.1% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $253,807

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,028,328

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $1,410,557 · related or exempt $0 · unrelated business $0 · excluded $1,410,557

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $253,807

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $26,428 · fundraising $26,428

  • 11g · Fees: other

    total $107,770 · fundraising $107,770

  • 12 · Advertising and promotion

    total $40,300 · fundraising $40,300

  • 13 · Office expenses

    total $9,369 · fundraising $9,369

  • 19 · Conferences, conventions and meetings

    total $1,953 · fundraising $1,953

  • 24a · Other expenses: Membership and Licenses

    total $692 · program services $0 · management and general $0 · fundraising $692

  • 24b · Other expenses: Life Insurance

    total $4,656 · program services $0 · management and general $4,656 · fundraising $0

  • 24c · Other expenses: Distribution to Health System

    total $2,220,340 · program services $2,220,340 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $259,453 · fundraising $259,453

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $792,106 · end of year $1,221,742

  • 3 · Pledges and grants receivable

    beginning of year $1,128,672 · end of year $702,307

  • 11 · Investments: publicly traded securities

    beginning of year $10,345,548 · end of year $10,911,493

  • 15 · Other assets

    beginning of year $750,701 · end of year $796,937

  • 17 · Accounts payable and accrued expenses

    beginning of year $93,456 · end of year $687,177

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,459,414 · end of year $4,472,392

  • 28 · Net assets with donor restrictions

    beginning of year $8,464,157 · end of year $8,472,910

Mission and programs · 2023

Mission

The mission of Beloit Health System Foundation, Inc. is the development, management and distribution of gifts to assist Beloit Health System in providing excellence in health care for the Stateline area.

  • Distributions to Beloit Health System

    Expenses $2,220,340 · Grants $2,220,340

As filed on the 2023 return.

Listed in Part VII

  • Timothy McKevett

    Board Member

    Total calculated
    $1,401,494
    From this org
    $0
    From related orgs
    $1,355,693
    Other
    $45,801
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $658,113 related
    Bonus
    $0 + $347,251 related
    Other
    $0 + $350,329 related
    Deferred
    $0 + $45,801 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $1,401,494 related

  • Nicole Kovarik

    Board Member

    Total calculated
    $180,202
    From this org
    $0
    From related orgs
    $171,448
    Other
    $8,754
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,984 related
    Bonus
    $0 + $4,464 related
    Other
    $0
    Deferred
    $0 + $8,754 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $180,202 related

  • Tami Scarpetta

    Non-Voting Board Member & Executive Director

    Total calculated
    $150,742
    From this org
    $0
    From related orgs
    $144,201
    Other
    $6,541
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $127,680 related
    Bonus
    $0 + $16,521 related
    Other
    $0
    Deferred
    $0 + $6,541 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $150,742 related

  • Doris Mulder

    Board Member

    Total calculated
    $12,351
    From this org
    $0
    From related orgs
    $12,052
    Other
    $299
    Hours/week
    0 + 5 related

  • Mark Leach

    Chairman

    Total calculated
    $0
    Hours/week
    0

  • Derek Hahn

    Vice Chairman

    Total calculated
    $0
    Hours/week
    0

  • Keith Kruse

    Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Kim Loerke

    Secretary

    Total calculated
    $0
    Hours/week
    0

  • Gary Adamski

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Kayla K Hiller

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Mike Marquette

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Stephanie Knueppel

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Tim Oswald

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Jacquie Seymour

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Martha Williams

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Lori Packard Dabson

    Board Member

    Total calculated
    $0
    Hours/week
    0

  • Louie Pody

    Board Member

    Total calculated
    $0
    Hours/week
    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. 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 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
Compensation for the Executive Director is paid through Beloit Health System and is determined and approved by a small committee within the Board of Directors. The committee is called the Compensation and Evaluation Committee.
Schedule J, Part I, Line 4
409(a) Plan Participant is Timothy McKevett. $350,329 was received in 2023

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
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202421569349301652

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