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Nonprofiteer
← PRINCETON HEALTHCARE SYSTEM INC

Form 990 for tax year 2024

Filed by PRINCETON HEALTHCARE SYSTEM INC.

Totals

Total revenue
$1,065,801
Total expenses
$151,467
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,065,801
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,919,304
Total liabilities, end of year
$2,689,336
Net assets or fund balances, end of year
$1,229,968
Program services expenses (Part IX)
$136,320
Management and general expenses
$15,147
Fundraising expenses
$0
Program service expenses (Part III)
$136,320

Program services were 90.0% 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.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: OTHER HEALTHCARE RELATED REVENUES

    total $1,065,801 · related or exempt $1,065,801

  • 3 · Investment income

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

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $144,373 · program services $129,935 · management and general $14,438 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: DUES & LICENSES

    total $4,400 · program services $3,960 · management and general $440 · fundraising $0

  • 24b · Other expenses: CONTRACTED SERVICES

    total $2,694 · program services $2,425 · management and general $269 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $69,935 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,748 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $3,285,634 · end of year $3,919,304

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,797 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,050,886 · end of year $2,689,336

  • 27 · Net assets without donor restrictions

    beginning of year $315,634 · end of year $1,229,968

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Listed in Part VII

  • KEVIN B MAHONEY

    TRUSTEE - CEO-UPHS

    Total calculated
    $3,329,164
    From this org
    $0
    From related orgs
    $2,954,787
    Other
    $374,377
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,880,100 related
    Bonus
    $0 + $1,029,800 related
    Other
    $0 + $44,887 related
    Deferred
    $0 + $352,800 related
    Nontaxable benefits
    $0 + $21,577 related
    Filer's total
    $0 + $3,329,164 related

  • ROBERT VONDERHEIDE MD

    TRUSTEE

    Total calculated
    $1,186,473
    From this org
    $0
    From related orgs
    $1,133,945
    Other
    $52,528
    Hours/week
    1 + 1 related

    Schedule J breakdown matched by us

    Base
    $0 + $450,483 related
    Bonus
    $0 + $299,865 related
    Other
    $0 + $383,597 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $18,028 related
    Filer's total
    $0 + $1,186,473 related

  • JAMES G DEMETRIADES

    TRUSTEE- PRESIDENT & CEO

    Total calculated
    $952,926
    From this org
    $0
    From related orgs
    $855,051
    Other
    $97,875
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $533,355 related
    Bonus
    $0 + $230,020 related
    Other
    $0 + $91,676 related
    Deferred
    $0 + $79,500 related
    Nontaxable benefits
    $0 + $18,375 related
    Filer's total
    $0 + $952,926 related

  • GUILHERME VALLADARES MBA

    ASSISTANT TREASURER

    Total calculated
    $520,203
    From this org
    $0
    From related orgs
    $489,159
    Other
    $31,044
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $400,344 related
    Bonus
    $0 + $87,550 related
    Other
    $0 + $1,265 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $31,044 related
    Filer's total
    $0 + $520,203 related

  • ROSEMARIE COSTAGLIOLA

    ASSISTANT SECRETARY

    Total calculated
    $25,696
    From this org
    $0
    From related orgs
    $25,667
    Other
    $29
    Hours/week
    5 + 50 related

  • ANTHONY KUCZINSKI

    TRUSTEE- CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • CALVIN L BUTTS JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • HEATHER M VAN RAALTE MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • KIM PIMLEY

    EX-OFFICIO TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LEONARD GROSSMAN MD

    TRUSTEE - UNTIL 3/25

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • LORI FELDSTEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL MARDY

    TRUSTEE- TREASURER

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • MYRON M GELLMAN

    TRUSTEE - VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • PHILIP CARCHMAN

    TRUSTEE - SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • SAMIT HIRAWAT MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • W THOMAS GUTOWSKI MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • ALINE M HOLMES DNP MSN RN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • WILLIAM G HYNICK JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ELLIOT A KRAUSS MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • TARA OAKMAN PHD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • ALEXANDER WOLFSON MD

    TRUSTEE - UNTIL 3/25

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • DONALD HOFFMANN

    EX-OFFICIO TRUSTEE

    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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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)

SCHEDULE J, PART I, LINE 3
TOP MANAGEMENT COMPENSATION AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION WHICH USES ONE OR MORE OF THE METHODS DESCRIBED IN LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS. ------------------------------
SCHEDULE J, PART I, LINE 4B
SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PARTICIPATION CERTAIN TRUSTEES, OFFICERS AND/OR KEY EMPLOYEES OF THIS ORGANIZATION ARE COMPENSATED BY A RELATED ORGANIZATION, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY"). THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM ("HEALTH SYSTEM") MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") DESIGNED FOR SENIOR ADMINISTRATORS OF THE HEALTH SYSTEM, AS DESIGNATED BY THE BOARD OF TRUSTEES, WHO ARE ACTIVELY EMPLOYED BY THE HEALTH SYSTEM WHEN THE CONTRIBUTIONS ARE MADE. VESTING IN THE SERP OCCURS AFTER EACH THREE YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 65, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 65 WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION WHICH IS TAXABLE AS EARNED INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE UNIVERSITY/HEALTH SYSTEM SERP PLAN DURING THE YEAR AND/OR RECEIVED DISTRIBUTIONS DURING THE YEAR: JAMES G. DEMETRIADES - $69,548 THE HEALTH SYSTEM ALSO MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN DESIGNED FOR SENIOR FACULTY OF THE SCHOOL OF MEDICINE OF THE UNIVERSITY, AS DESIGNATED BY THE BOARD OF TRUSTEES, WHO ARE ACTIVELY EMPLOYED BY THE UNIVERSITY WHEN THE CONTRIBUTIONS ARE MADE (THE "CPUP SERP"). VESTING IN THE MED SERP OCCURS AFTER EVERY TEN YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 60, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 60 (WITH 2 OR MORE YEARS OF PARTICIPATION) WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, TAXES OWED WILL BE WITHDRAWN FROM THE PLAN, AND THE REMAINING AFTER-TAX BALANCE WILL REMAIN IN THE PLAN. PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION THE SUMMER AFTER THE YEAR IN WHICH THEY TERMINATE EMPLOYMENT, AT WHICH TIME ANY EARNINGS NOT YET TAXED WILL BE TREATED AS TAXABLE INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE NON-VESTED BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE CPUP SERP PLAN DURING THE YEAR: ROBERT VONDERHEIDE, M.D. - NO DISTRIBUTION -------------------- THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM (THE "HEALTH SYSTEM" MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") DESIGNED FOR THE CHIEF EXECUTIVE OFFICER OF THE HEALTH SYSTEM. VESTING IN THE SERP OCCURS ON JUNE 30, 2027 OR UPON THE OCCURRENCE OF CERTAIN EVENTS (DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). UPON REACHING A VESTING DATE, PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION WHICH IS TAXABLE AS EARNED INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE HEALTH SYSTEM SERP PLAN DURING THE YEAR AND/OR RECEIVED EMPLOYER PAID AMOUNTS DURING THE YEAR: KEVIN B. MAHONEY - NO DISTRIBUTION --------------------

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.

Disregarded entities

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

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
4 May 2026
IRS schema version
2024v5.2
Source object
202611349349307151

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