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Nonprofiteer
← MI MANAGEMENT INC

Form 990 for tax year 2022

Filed by MI MANAGEMENT INC.

Totals

Total revenue
$3,059,944
Total expenses
$3,327,092
Contributions and grants received
$141,552
Grants paid
$0
Program service revenue
$2,901,550
Investment income
$16,842
Other revenue
$0
Total assets, end of year
$7,356,255
Total liabilities, end of year
$495,742
Net assets or fund balances, end of year
$6,860,513
Program services expenses (Part IX)
$2,770,291
Management and general expenses
$556,801
Fundraising expenses
$0
Program service expenses (Part III)
$2,770,291

Program services were 83.3% 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.

  • 1e · Government grants (contributions)

    $110,544

  • 1f · All other contributions, gifts and grants

    $31,008

  • 2a · Program service revenue: Patient services

    total $2,616,535 · related or exempt $2,616,535

  • 2b · Program service revenue: Management fees

    total $285,015 · related or exempt $285,015

  • 3 · Investment income

    total $101,226 · excluded $101,226

  • 7a · Gross sales of assets other than inventory

    securities $279,274

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

    securities $363,658

  • 7c · Gain or loss

    securities -$84,384

  • 7d · Net gain or loss

    total -$84,384 · excluded -$84,384

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,921,458 · program services $1,654,373 · management and general $267,085

  • 8 · Pension plan contributions

    total $25,253 · program services $21,642 · management and general $3,611

  • 9 · Other employee benefits

    total $174,187 · program services $149,279 · management and general $24,908

  • 10 · Payroll taxes

    total $151,113 · program services $129,504 · management and general $21,609

  • 11a · Fees: management

    total $235,180 · management and general $235,180

  • 11c · Fees: accounting

    total $4,408 · management and general $4,408

  • 11g · Fees: other

    total $64,135 · program services $64,135

  • 12 · Advertising and promotion

    total $9,284 · program services $9,284

  • 13 · Office expenses

    total $68,654 · program services $68,654

  • 14 · Information technology

    total $3,240 · program services $3,240

  • 17 · Travel

    total $80 · program services $80

  • 19 · Conferences, conventions and meetings

    total $14,074 · program services $14,074

  • 22 · Depreciation, depletion and amortization

    total $49,500 · program services $49,500

  • 23 · Insurance

    total $54,391 · program services $54,391

  • 24a · Other expenses: Nutrition and dining

    total $534,630 · program services $534,630

  • 24b · Other expenses: Medical supplies

    total $9,166 · program services $9,166

  • 24c · Other expenses: Repairs and Maintance

    total $8,339 · program services $8,339

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $412,591 · end of year $195,122

  • 2 · Savings and temporary cash investments

    beginning of year $509,561 · end of year $509,778

  • 4 · Accounts receivable

    beginning of year $85,584 · end of year $152,395

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

    $971,228

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

    $308,084

  • 10c · Land, buildings and equipment, net

    beginning of year $530,833 · end of year $663,144

  • 12 · Investments: other securities

    beginning of year $6,695,393 · end of year $5,831,672

  • 15 · Other assets

    beginning of year $3,268 · end of year $4,144

  • 17 · Accounts payable and accrued expenses

    beginning of year $95,306 · end of year $108,557

  • 25 · Other liabilities

    beginning of year $244,155 · end of year $387,185

  • 27 · Net assets without donor restrictions

    beginning of year $7,897,769 · end of year $6,860,513

Mission and programs · 2022

Mission

Mary Immaculate Management exists to develop and implement innovative, compassionate, competent, and responsive services and programs to address unmet needs of community elders.

  • Marguerite D'Youville, Mother of Universal Charity, began a rich tradition of caring for the most vulnerable. The Grey Nuns have continued this tradition by focusing on programs that service the poor and the underserved. In the spirit of Marguerite D'Youville and the Grey Nuns, the community of Mary Immaculate continues to serve those most vulnerable through its sponsorship of a wide variety of good neighbor activities. These activities are organized and facilitated by our mission department.The entire Mary Immaculate group of entities, colectively Mary Immaculate Healthcare Services (MIHCS), follows the methodology that is recommended by the Catholic Health Association for calculating the cost of support for the broader community. In this methodology, the cost of providing services is reduced by payments received for services, resulting in net cost. It is the net cost that MIHCS reports as its community benefit, and it includes the net cost of programs directed to the poor and unpaid costs of the Medicaid program.

    Expenses $2,770,291 · Revenue $2,901,550

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

Listed in Part VII

  • Gerald Foley

    President & CEO (start 8/2022)

    Total calculated
    $318,444
    From this org
    $0
    From related orgs
    $286,838
    Other
    $31,606
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,830 related
    Bonus
    $0 + $2,500 related
    Other
    $0 + $5,508 related
    Deferred
    $0 + $5,408 related
    Nontaxable benefits
    $0 + $26,198 related
    Filer's total
    $0 + $318,444 related

  • Jeanne Leydon

    President & CEO (end 8/2022)

    Total calculated
    $139,027
    From this org
    $0
    From related orgs
    $129,388
    Other
    $9,639
    Hours/week
    1 + 39 related

  • Raisa T Carrasco-Velez

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Rev John Delaney

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Roger Desjardins

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Samer Obeid Esq

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Deacon Eric Peabody

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Sr Marcia Wiley

    Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Deborah L Turiano MD

    Chair

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • William Shaheen CPA

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Karen Gallagher Giangrande

    Clerk

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Anne Alvino

    RN

    Total calculated
    $102,626
    From this org
    $100,467
    From related orgs
    $0
    Other
    $2,159
    Hours/week
    40

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
Any compensation paid to the trustees, directors, officers or key employees of the Organization is subject to the oversight and decisions of Covenant Health, a related tax-exempt organization. Every two-to-three years the Compensation Committee of the Covenant Health Board of Directors engages an external consultant to provide competitive market data from various survey sources, which is then used to develop recommendations for changes to the compensation program. Since 2003, the Compensation Committee has engaged a human resources consultant to conduct this analysis. Objectives of the analysis are to assess the compositeness of the total cash compensation levels of the senior leadership team, develop market based competitive salary ranges for all executive positions, and ensure that the annual incentive opportunities, if there are any, are competitive and reasonable.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • Campus Holding

    C · Holding company · ME

  • Covenant Health Insurance LTD

    C · Self-insurance company · CJ

  • GNM Corporation

    C · Real estate holding company · NH

  • SJ Physicians Services

    C · Physician practice · NH

  • St Joseph Corporate Services Inc

    C · Holding company · NH

  • Strauss Incorporated

    C · Repairs and transcriptions · ME

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202323189349309622

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