Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $0

• 1f · All other contributions, gifts and grants

  $2,734,078

• 1g · Noncash contributions included above

  $299,926

• 2f · All other program service revenue

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

• 3 · Investment income

  total $834,739 · related or exempt $0 · unrelated business $14,307 · excluded $820,432

• 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

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

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

• 7a · Gross sales of assets other than inventory

  securities $3,160,644

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

  securities $2,681,775

• 7c · Gain or loss

  securities $478,869 · other assets $0

• 7d · Net gain or loss

  total $478,869 · related or exempt $0 · unrelated business $0 · excluded $478,869

• 8a · Fundraising events: gross income

  $0

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

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0 · unrelated business $0 · excluded $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

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

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

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

• 11a · Other revenue: CASH DISCOUNT

  total $1 · related or exempt $1 · unrelated business $0 · excluded $0

• 11b · Other revenue

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

• 11c · Other revenue

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

• 11d · All other revenue

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

• 11e · Other revenue, total

  $1

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,398,038 · program services $1,398,038

• 2 · Grants to domestic individuals

  total $102,720 · program services $102,720

• 5 · Compensation of officers, directors and key employees

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

• 7 · Other salaries and wages

  total $686,847 · management and general $322,818 · fundraising $364,029

• 9 · Other employee benefits

  total $234,611 · management and general $110,267 · fundraising $124,344

• 10 · Payroll taxes

  total $56,729 · management and general $26,663 · fundraising $30,066

• 11c · Fees: accounting

  total $55,549 · management and general $55,549

• 11g · Fees: other

  total $69,887 · program services $0 · management and general $36,690 · fundraising $33,197

• 13 · Office expenses

  total $12,571 · management and general $5,908 · fundraising $6,663

• 14 · Information technology

  total $442 · management and general $442

• 16 · Occupancy

  total $4,802 · management and general $2,257 · fundraising $2,545

• 17 · Travel

  total $15,089 · management and general $13,456 · fundraising $1,633

• 19 · Conferences, conventions and meetings

  total $10,026 · management and general $4,712 · fundraising $5,314

• 22 · Depreciation, depletion and amortization

  total $16,843 · management and general $16,843

• 23 · Insurance

  total $17,048 · management and general $17,048

• 24a · Other expenses: Corp Allocation

  total $209,620 · management and general $209,620

• 24b · Other expenses: Dues / Sub

  total $109,158 · management and general $51,304 · fundraising $57,854

• 24c · Other expenses: GEM Jackets (Other Direct)

  total $104,950 · fundraising $104,950

• 24d · Other expenses: Four Winds Invitational Expenses

  total $94,558 · management and general $44,442 · fundraising $50,116

• 24e · All other expenses

  total $35,650 · program services $0 · management and general $16,769 · fundraising $18,881

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $5,953,866 · end of year $6,929,163

• 3 · Pledges and grants receivable

  beginning of year $105,000 · end of year $2,100

• 4 · Accounts receivable

  beginning of year $0 · end of year $0

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

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

  $257,989

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

  $239,408

• 10c · Land, buildings and equipment, net

  beginning of year $35,424 · end of year $18,581

• 11 · Investments: publicly traded securities

  beginning of year $19,349,274 · end of year $21,956,729

• 12 · Investments: other securities

  beginning of year $13,481,366 · end of year $13,726,529

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $12,146 · end of year $12,146

• 17 · Accounts payable and accrued expenses

  beginning of year $9,988 · end of year $16,575

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $0 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $29,573,897 · end of year $31,795,716

• 28 · Net assets with donor restrictions

  beginning of year $9,353,191 · end of year $10,832,957

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

BEACON HEALTH FOUNDATION, INC. USES A RELATED ORGANIZATION'S (BEACON HEALTH SYSTEM, INC.) COMPENSATION REVIEW PROCESS. THIS REVIEW PROCESS INCLUDES AN EXTENSIVE EXAMINATION USING COMPARABLE MARKET DATA THAT IS THEN REVIEWED BY AN INDEPENDENT CONSULTANT HIRED BY, AND REPORTING TO, THE BOARD OF DIRECTORS. RECOMMENDATIONS ARE PRESENTED TO THE BOARD FOR DELIBERATION AND FINAL DECISION.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

BEACON HEALTH SYSTEM IMPLEMENTED AN EXECUTIVE RETENTION PLAN TO ATTRACT AND RETAIN KEY EMPLOYEES BY PROVIDING ADDITIONAL DEFERRED COMPENSATION. THE CHIEF EXECUTIVE OFFICER WILL PARTICIPATE IN THE PLAN AND WILL SELECT OTHER PARTICIPANTS PURSUANT TO THE GUIDELINES SET BY THE EMPLOYER'S BOARD OF DIRECTORS. THE EMPLOYER MAY MAKE CONTRIBUTIONS UNDER THE PLAN AND HAS SOLE DISCRETION OVER WHETHER TO MAKE A CONTRIBUTION. VESTING OCCURS ON JANUARY 1 OF THE FIFTH YEAR FOR WHICH SUCH CONTRIBUTIONS ARE MADE FOR PARTICIPANTS WHO HAVE BEEN CONTINUOUSLY EMPLOYED. THE PLAN ALSO ALLOWS VESTING TO OCCUR IF THE PARTICIPANT ATTAINS THE AGE OF 62. THE FOLLOWING INDIVIDUALS RECEIVED VESTED PAYMENTS IN 2023, REFLECTED IN COLUMN (B)(III): * KREG GRUBER, $113,175 * JEFFREY COSTELLO, $96,631 * SUSAN KING, $ 28,350 THE FOLLOWING INDIVIDUALS RECEIVED DEFFERED PAYMENTS IN 2023 THAT WILL VEST IN FUTURE YEARS, WHICH ARE REFLECTED IN COLUMN C: * KREG GRUBER, $136,436 * JEFFREY COSTELLO, $82,406 * SUSAN KING, $34,809

Related corporations and trusts

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

• BEACON HEALTH VENTURES INC

  C Corporation · HOME MEDICAL · IN

  Directly controlled by NA

• BEACON HEALTH VENTURES MICHIGAN INC

  C Corporation · HOME MEDICAL · MI

  Directly controlled by NA