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Nonprofiteer
← CORNELL SCOTT RWC QALICB INC

Form 990 for tax year 2024

Filed by CORNELL SCOTT RWC QALICB INC.

Totals

Total revenue
$0
Total expenses
$739,857
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$22,687,078
Total liabilities, end of year
$22,030,088
Net assets or fund balances, end of year
$656,990
Program services expenses (Part IX)
$739,857
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$739,857

Program services were 100.0% 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.

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $73,804 · program services $73,804

  • 20 · Interest

    total $458,345 · program services $458,345

  • 22 · Depreciation, depletion and amortization

    total $207,708 · program services $207,708

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $426,564 · end of year $336,583

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

    $21,403,126

  • 10c · Land, buildings and equipment, net

    beginning of year $18,725,110 · end of year $21,403,126

  • 15 · Other assets

    beginning of year $1,347,428 · end of year $947,369

  • 23 · Secured mortgages and notes payable

    beginning of year $18,547,238 · end of year $20,537,607

  • 25 · Other liabilities

    beginning of year $362,666 · end of year $1,492,481

  • 27 · Net assets without donor restrictions

    beginning of year $1,589,198 · end of year $656,990

Mission and programs · 2024

Mission

THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY TO BENEFIT CORNELL SCOTT - HILL HEALTH CORPORATION, A CONNECTICUT NONSTOCK CORPORATION (THE "CSHHC") EXEMPT FROM TAXATION UNDER CODE SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN CODE SECTION 501(C)(3), BY PERFORMING THE FUNCTIONS OF OR CARRYING OUT THE PURPOSES OF CSHHC, SUCH PURPOSES BEING TO PROVIDE AFFORDABLE COMPREHENSIVE HEALTH AND SOCIAL SERVICES PARTICULARLY TO PERSONS FINANCIALLY UNABLE TO OBTAIN SUCH SERVICES, TO PROMOTE PUBLIC HEALTH INFORMATION AND EDUCATION, AND TO INFORM THE COMMUNITY AT LARGE OF THE HEALTH PROBLEMS IN DISADVANTAGED SEGMENTS OF THE COMMUNITY AND TO ENCOURAGE COMMUNITY SUPPORT TO SOLVE THOSE PROBLEMS.

Activities or mission (Part I)

PERFORMING THE FUNCTIONS OF, OR CARRYING OUT, THE PURPOSE OF CORNELL SCOTT-HILL HEALTH CORPORATION.

  • TO (I) ACQUIRE AND HOLD TITLE TO REAL PROPERTY AND FURNITURE, FIXTURES AND EQUIPMENT LOCATED AT 232 CEDAR STREET, 149 MINOR STREET, 649 HOWARD AVENUE, AND 651 HOWARD AVENUE NEW HAVEN, CONNECTICUT 06519 (COLLECTIVELY, THE PROJECT), (II) BORROW LOW-INTEREST RATE FUNDS FROM THIRD-PARTY LENDERS, AND (III) LEASE THE PROJECT TO CSHHC TO OPERATE OR LEASE AS A MEDICAL FACILITY IN FURTHERANCE OF ITS STATED CHARITABLE PURPOSES.

    Expenses $739,857

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BONITA GRUBBS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • GARRETT SHEEHAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • ORLANDO CORDERO

    DIRECTOR & BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • JOSHUA BIRD

    DIRECTOR & TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • MICHAEL TAYLOR

    DIRECTOR & CHIEF EXECUTIVE

    Total calculated
    $879,219
    From this org
    $0
    From related orgs
    $792,728
    Other
    $86,491
    Hours/week
    0.1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $488,068 related
    Bonus
    $0 + $123,770 related
    Other
    $0 + $180,890 related
    Deferred
    $0 + $37,300 related
    Nontaxable benefits
    $0 + $49,191 related
    Filer's total
    $0 + $879,219 related

  • DOUG MAGAZU

    CHIEF FINANCIAL OFFICER

    Total calculated
    $526,443
    From this org
    $0
    From related orgs
    $475,766
    Other
    $50,677
    Hours/week
    0.1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $406,377 related
    Bonus
    $0 + $62,189 related
    Other
    $0 + $7,200 related
    Deferred
    $0 + $13,332 related
    Nontaxable benefits
    $0 + $37,345 related
    Filer's total
    $0 + $526,443 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
THE CEO MICHAEL TAYLOR IS COMPENSATED BY A RELATED ORGANIZATION, CORNELL SCOTT HILL HEALTH CORPORATION. THEY USE THE FOLLOWING METHODS TO DETERMINE CEO COMPENSATION: - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY AND/OR STUDY - APPROVAL BY THE BOARD AND/OR COMPENSATION COMMITTEE
SCHEDULE J, PART II:
MICHAEL TAYLOR SERVES ON THE BOARD OF DIRECTORS FOR CORNELL SCOTT RWC QALICB, INC. AND DOUG MAGAZU IS THE TOP FINANCIAL OFFICIAL (DEEMED TO BE AN OFFICER) FOR CORNELL SCOTT RWC QALICB, INC. IRS GUIDANCE STATES THAT IF ANY BOARD MEMBERS AND/OR OFFICERS OF THE FILING ORGANIZATION ARE COMPENSATED BY A RELATED ORGANIZATION, THEIR COMPENSATION FROM THAT RELATED ORGANIZATION MUST BE DISCLOSED. MICHAEL TAYLOR AND DOUG MAGAZU ARE EMPLOYED BY A RELATED ORGANIZATION (CORNELL SCOTT-HILL HEALTH CORPORATION) AND COMPENSATED AS EMPLOYEES OF THAT ORGANIZATION. NEITHER INDIVIDUAL IS PAID BY CORNELL SCOTT RWC QALICB, INC. AS A RESULT, THEIR COMPENSATION FROM CORNELL SCOTT-HILL HEALTH CORPORATION IS REPORTED IN FORM 990, SCHEDULE J, PART II, ROW (II) "REPORTABLE COMPENSATION FROM RELATED ENTITIES" FOR CORNELL SCOTT RWC QALICB, INC.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
27 March 2026
IRS schema version
2024v5.5
Source object
202620899349300927

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