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Nonprofiteer
← PRESBYTERIAN MEDICAL SERVICES FOUNDATION INC

Form 990 for tax year 2022

Filed by PRESBYTERIAN MEDICAL SERVICES FOUNDATION INC.

Totals

Total revenue
$1,716,277
Total expenses
$308,308
Contributions and grants received
$7,143
Grants paid
$0
Program service revenue
$0
Investment income
$345,858
Other revenue
$1,363,276
Total assets, end of year
$2,853,216
Total liabilities, end of year
$1,665,884
Net assets or fund balances, end of year
$1,187,332
Program services expenses (Part IX)
$298,370
Management and general expenses
$5,335
Fundraising expenses
$4,603
Program service expenses (Part III)
$298,370

Program services were 96.8% 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.

  • 1f · All other contributions, gifts and grants

    $7,143

  • 3 · Investment income

    total $104,242 · excluded $104,242

  • 7a · Gross sales of assets other than inventory

    securities $541,989

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

    securities $300,373

  • 7c · Gain or loss

    securities $241,616

  • 7d · Net gain or loss

    total $241,616 · excluded $241,616

  • 11a · Other revenue: Cancellation of Debt Income

    total $1,363,276 · excluded $1,363,276

  • 11e · Other revenue, total

    $1,363,276

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,706 · management and general $4,706

  • 9 · Other employee benefits

    total $629 · management and general $629

  • 11b · Fees: legal

    total $1,600 · program services $1,600

  • 11e · Fees: professional fundraising services

    total $4,603 · fundraising $4,603

  • 11f · Fees: investment management

    total $24,686 · program services $24,686

  • 13 · Office expenses

    total $8,775 · program services $8,775

  • 20 · Interest

    total $62,832 · program services $62,832

  • 24a · Other expenses: BANK CHARGES

    total $200,477 · program services $200,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $150,721 · end of year $174,306

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

    $1,472

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

    $1,472

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,865,982 · end of year $2,678,910

  • 15 · Other assets

    beginning of year $3,151,104 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,605

  • 25 · Other liabilities

    beginning of year $5,746,450 · end of year $1,665,884

  • 27 · Net assets without donor restrictions

    beginning of year $419,752 · end of year $1,187,332

Mission and programs · 2022

Mission

The Foundation's purpose is to conduct activities and operate in a manner designed or intended to facilitate and support in all respects the programs of Presbyterian Medical Services. The Foundation was organized to receive, hold, invest, and administer funds and property,and to make expenditures to and for the benefit of the health centers and medical programs sponsored by Presbyterian Medical Services.

  • All expenses are incurred to facilitate and support the health centers and various programs sponsored by PMS.

    Expenses $298,370

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Diane P Martinez

    Board Member

    Total calculated
    $363,121
    From this org
    $0
    From related orgs
    $328,887
    Other
    $34,234
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $287,958 related
    Bonus
    $0 + $30,212 related
    Other
    $0 + $10,717 related
    Deferred
    $0 + $26,000 related
    Nontaxable benefits
    $0 + $8,234 related
    Filer's total
    $0 + $363,121 related

  • Steve C Hansen

    Board Member

    Total calculated
    $522,061
    From this org
    $0
    From related orgs
    $474,983
    Other
    $47,078
    Hours/week
    2.5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $433,768 related
    Bonus
    $0 + $36,641 related
    Other
    $0 + $4,574 related
    Deferred
    $0 + $26,000 related
    Nontaxable benefits
    $0 + $21,078 related
    Filer's total
    $0 + $522,061 related

  • Susan K Smith

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Part I, Line 3
Please see Schedule O for Form 990, Part VI, Section B Line 15 explanation in regards to the methods used by the organization to establish compensation for the organization's CEO/Executive Director.

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
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202303189349311765

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