Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RENT FROM AFFILIATES

  total $43,360,446 · related or exempt $43,360,446

• 2b · Program service revenue: PROGRAM RELATED INVESTMENT INCOME

  total -$6,282 · related or exempt -$6,282

• 2c · Program service revenue: INTERCO MGMT FEE

  total $209,536 · related or exempt $209,536

• 2d · Program service revenue: UNRELATED BUSINESS INCOME

  total -$4,959,140 · unrelated business -$4,959,140

• 2f · All other program service revenue

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

• 3 · Investment income

  total $236,410 · excluded $236,410

• 6a · Gross rents

  real property $1,535,565

• 6c · Rental income or loss

  real property $1,535,565 · personal property $0

• 6d · Net rental income or loss

  total $1,535,565 · excluded $1,535,565

• 7a · Gross sales of assets other than inventory

  securities $1,967,718 · other assets $1,888,649

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

  securities $337,254 · other assets $1,596,413

• 7c · Gain or loss

  securities $1,630,464 · other assets $292,236

• 7d · Net gain or loss

  total $1,922,700 · excluded $1,922,700

• 11a · Other revenue: PARKING FEES

  total $8,603 · unrelated business $8,603

• 11d · All other revenue

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

• 11e · Other revenue, total

  $8,603

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $217,017 · management and general $217,017

• 11a · Fees: management

  total $2,387,471 · management and general $2,387,471

• 11b · Fees: legal

  total $236,959 · management and general $236,959

• 11f · Fees: investment management

  total $28,173 · management and general $28,173

• 11g · Fees: other

  total $5,132,763 · program services $5,131,146 · management and general $1,617 · fundraising $0

• 13 · Office expenses

  total $797,362 · program services $797,362

• 14 · Information technology

  total $30,000 · management and general $30,000

• 16 · Occupancy

  total $16,084,546 · program services $16,084,546

• 20 · Interest

  total $4,058,398 · program services $4,058,398

• 22 · Depreciation, depletion and amortization

  total $11,720,993 · program services $11,720,993

• 23 · Insurance

  total $473,303 · program services $112,876 · management and general $360,427

• 24a · Other expenses: AFFILIATE SUBSIDY

  total $620,901 · program services $620,901

• 24b · Other expenses: BUSINESS FEES

  total $20,962 · program services $20,962

• 24c · Other expenses: INCOME TAXES

  total $8,010 · management and general $8,010

• 24e · All other expenses

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

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,355,881 · end of year $3,035,649

• 4 · Accounts receivable

  beginning of year $22,643 · end of year $8,645

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $600,000 · end of year $600,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,514,260 · end of year $1,439,076

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

  $378,960,702

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

  $203,638,012

• 10c · Land, buildings and equipment, net

  beginning of year $186,187,773 · end of year $175,322,690

• 11 · Investments: publicly traded securities

  beginning of year $7,089,481 · end of year $5,724,235

• 12 · Investments: other securities

  beginning of year $14,135,937 · end of year $18,029,656

• 13 · Investments: program-related

  beginning of year $6,733,478 · end of year $6,250,000

• 15 · Other assets

  beginning of year $49,145,130 · end of year $47,488,722

• 17 · Accounts payable and accrued expenses

  beginning of year $1,722,475 · end of year $1,040,998

• 18 · Grants payable

  beginning of year $124,300 · end of year $124,300

• 19 · Deferred revenue

  end of year $21,263

• 20 · Tax-exempt bond liabilities

  beginning of year $96,005,480 · end of year $96,021,332

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $71,900,125 · end of year $67,146,748

• 27 · Net assets without donor restrictions

  beginning of year $99,032,203 · end of year $93,544,032

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES

ALL DIRECTORS ARE OFFERED A FREE FAMILY OR INDIVIDUAL MEMBERSHIP TO A HEALTH CLUB OWNED BY A RELATED ORGANIZATION IF THEY CHOOSE TO ACCEPT IT. THE ORGANIZATION PROVIDED THIS BENEFIT TO FOUR REPORTED INDIVIDUALS, THE VALUE OF WHICH IS INCLUDED IN REPORTED COMPENSATION.

SCHEDULE J, PART I, LINE 1B WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF EXPENSES

PROVISION OF THE HEALTH CLUB BENEFIT IS DOCUMENTED IN BOARD MEETING MINUTES AND CARILION INTERNALLY TRACKS THE MEMBERSHIPS AND PAYS THE HEALTH CLUB DIRECTLY.

SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN

MS. ARMENTROUT, MR. ARNER, MR. CONTE, MR. HALLIWILL, MR. VAUGHAN AND DR. SEUPAUL PARTICIPATE IN A DEFINED CONTRIBUTION SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (DC SERP). CONTRIBUTIONS TO THE PLAN ARE AT THE DISCRETION OF CARILION CLINIC'S COMPENSATION COMMITTEE. AMOUNTS VEST AND BECOME NON-FORFEITABLE AND PAYABLE UPON THE FIRST OF THE FOLLOWING (1) ATTAINMENT OF SCHEDULED VESTING DATE (2) ATTAINMENT OF AGE AND YEARS OF SERVICE REQUIREMENTS (3) DISABILITY OR DEATH WHILE AN ELIGIBLE EMPLOYEE OR (4) ENTITLEMENT TO SEVERANCE BENEFITS FROM AN INVOLUNTARY TERMINATION WITHOUT REASONABLE CAUSE OR RESIGNATION WITH GOOD REASON. UNVESTED CONTRIBUTIONS MADE TO THE DC SERP IN THE REPORTING PERIOD ARE INCLUDED IN PART II, COLUMN C OF THIS SCHEDULE WITH "RETIREMENT AND OTHER DEFERRED COMPENSATION," WHILE VESTED CONTRIBUTIONS PAID OUT DURING THE YEAR ARE INCLUDED IN PART II, COLUMN B(III). THE FOLLOWING DISTRIBUTIONS WERE MADE TO THESE INDIVIDUALS UNDER THIS PLAN IN THE REPORTING YEAR. DEFERRED IN PRIOR YEAR AND PAID OUT IN CURRENT YEAR: $269,399 - DONALD HALLIWILL $244,219 - STEVEN ARNER $227,408 - NICHOLAS CONTE $80,547 - G. ROBERT VAUGHAN, JR. VESTED AND PAID IN CURRENT YEAR: $143,003 - JEANNE ARMENTROUT MS. AGEE PARTICIPATES IN AN EXECUTIVE FLEXIBLE BENEFIT PLAN, UNDER WHICH SHE RECEIVES AN ALLOWANCE WHICH CAN BE USED TO OBTAIN CERTAIN BENEFITS, WITH THE EXCESS DEFERRED UNTIL THE APPLICABLE VESTING DATE. AMOUNTS NOW RECEIVED UNDER THIS PLAN VEST IMMEDIATELY AND THUS ARE NO LONGER DEFERRED. $202,495 WAS DISTRIBUTED UNDER THIS PLAN IN THE REPORTING YEAR.

SCHEDULE J, PART I, LINE 7 NON-FIXED PAYMENTS

THE ORGANIZATION PAYS ANNUAL 'AT RISK' COMPENSATION TO CERTAIN MEMBERS OF MANAGEMENT AND PHYSICIANS BASED ON PERFORMANCE OF APPLICABLE SCORECARD METRICS. WHILE THE SCORECARD CONTAINS A FORMULA AS A BASIS FOR DETERMINING OVERALL PERFORMANCE, IN CERTAIN CASES, SENIOR MANAGERS HAVE DISCRETION TO INCLUDE ADDITIONAL ELEMENTS IN THEIR ASSESSMENT OF MANAGERS OR PHYSICIANS REPORTING TO THEM. IN ADDITION, FOR TOP MANAGEMENT, THE ACTUAL NON FIXED PAYMENT AWARDED IS DETERMINED IN THE DISCRETION OF THE CARILION CLINIC BOARD OF DIRECTORS AND ITS COMPENSATION COMMITTEE.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• CARILION CLINIC PROPERTIES LLC

  REAL ESTATE · VA · income $47,981,620 · assets $224,859,754

  Directly controlled by CARILION CLINIC

• CARILION REHABILITATION SERVICES LLC

  HEALTHCARE · VA · income $0 · assets $0

  Directly controlled by CARILION CLINIC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• FRANKLIN COUNTY VENTURES LLC

  RELATED · REAL ESTATE · VA · 90% owned · share of income -$846 · share of assets $0

  Directly controlled by CARILION CLINIC

• CARILION CLINIC MEDICARE SHARED SAVINGS COMPANY LLC

  N/A · MEDICARE ACO · VA

  Directly controlled by CARILION CLINIC

• ROANOKE AMBULATORY SURGERY CENTER LLC

  N/A · SURGERY · VA

  Directly controlled by CARILION MEDICAL CENTER

• SOUTHWEST VIRGINIA HEALTH PROPERTIES LLC

  N/A · REAL ESTATE · VA

  Directly controlled by CARILION MEDICAL CENTER

• RAVEN ASSET-BASED OPPORTUNITY FUND IV LP

  EXCLUDED · PRIVATE EQUITY · DE · 38% owned · share of income -$10,926,566 · share of assets $21,782,458

  Directly controlled by NA

• STARWOOD VEP II CO-INVEST LLC

  EXCLUDED · INVESTMENTS · DE · 37% owned · share of income $2,456,998 · share of assets $2,951,965

  Directly controlled by NA

• TI PLATFORM CC SMA LP

  EXCLUDED · INVESTMENTS · DE · 79.99% owned · share of income -$205,033 · share of assets $5,291,935

  Directly controlled by NA

• TI FBV GR LP

  EXCLUDED · INVESTMENTS · DE · 58.06% owned · share of income $0 · share of assets $4,568,429

  Directly controlled by NA

• TI PLATFORM DCI SPV LP

  EXCLUDED · INVESTMENTS · DE · 47.62% owned · share of income $0 · share of assets $7,547,339

  Directly controlled by NA

• TRANSPOSE PLATFORM ZIPPEDI SPV LP

  EXCLUDED · INVESTMENTS · DE · 58.82% owned · share of income $0 · share of assets $5,055,957

  Directly controlled by NA

• TRANSPOSE PLATFORM GORGIAS SPV LP

  EXCLUDED · INVESTMENTS · DE · 64.1% owned · share of income $0 · share of assets $5,059,384

  Directly controlled by NA

• TRANSPOSE PLATFORM FINTECH FUND II LP

  EXCLUDED · INVESTMENTS · DE · 75.25% owned · share of income -$292,504 · share of assets $7,914,126

  Directly controlled by NA

• OPERA INVESTMENT TWO SCSP

  EXCLUDED · INVESTMENTS · LU · 99.99% owned · share of income $1,928 · share of assets $18,800,130

  Directly controlled by NA

• VTC INNOVATION FUND III LP

  EXCLUDED · INVESTMENTS · DE · 92% owned · share of income $27,683 · share of assets $3,034,960

  Directly controlled by NA

• L2 VENTURES GP LLC

  EXCLUDED · INVESTMENTS · DE · 72% owned · share of income $41,743 · share of assets $1,199,101

  Directly controlled by NA

• SAGE RESIDENTIAL MSROF IV LP

  EXCLUDED · INVESTMENTS · DE · 100% owned · share of income $56,088 · share of assets $4,140,076

  Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHS INC

  C CORPORATION · SERVICES · VA · controlled entity

  Directly controlled by NA

• CARILION BEHAVIORAL HEALTH INC

  C CORPORATION · HEALTHCARE · VA · controlled entity

  Directly controlled by NA

• CARILION EMERGENCY SERVICES INC

  C CORPORATION · HEALTHCARE · VA · controlled entity

  Directly controlled by NA

• SCA CREDIT SERVICES INC

  C CORPORATION · COLLECTION AGENCY · VA · controlled entity

  Directly controlled by NA

• CARILION HEALTHCARE CORPORATION

  C CORPORATION · HEALTHCARE · VA · controlled entity

  Directly controlled by NA

• MEDKEY INC

  C CORPORATION · FINANCING SERVICES · VA · controlled entity

  Directly controlled by NA

• CARILION DTC SERVICES INC

  C CORPORATION · HEALTHCARE · VA · controlled entity

  Directly controlled by NA