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← HARTFORD HEALTHCARE ENDOWMENT LLC

Form 990 for tax year 2022

Filed by HARTFORD HEALTHCARE ENDOWMENT LLC.

Totals

Total revenue
$85,609,852
Total expenses
$14,891,245
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$85,609,852
Other revenue
$0
Total assets, end of year
$2,005,367,000
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$2,005,367,000
Program services expenses (Part IX)
$14,891,245
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$14,891,245

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • BIMAL PATEL

    DIRECTOR

    Total calculated
    $1,478,443
    From this org
    $0
    From related orgs
    $1,334,381
    Other
    $144,062
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $848,231 related
    Bonus
    $0 + $480,078 related
    Other
    $0 + $6,072 related
    Deferred
    $0 + $133,836 related
    Nontaxable benefits
    $0 + $10,226 related
    Filer's total
    $0 + $1,478,443 related

  • CHIBUEZE AGBA

    DIRECTOR

    Total calculated
    $1,723,372
    From this org
    $0
    From related orgs
    $1,533,173
    Other
    $190,199
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $990,224 related
    Bonus
    $0 + $531,597 related
    Other
    $0 + $11,352 related
    Deferred
    $0 + $158,999 related
    Nontaxable benefits
    $0 + $31,200 related
    Filer's total
    $0 + $1,723,372 related

  • DONNA HANDLEY

    DIRECTOR

    Total calculated
    $915,931
    From this org
    $0
    From related orgs
    $850,885
    Other
    $65,046
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,285 related
    Bonus
    $0 + $248,265 related
    Other
    $0 + $92,335 related
    Deferred
    $0 + $21,350 related
    Nontaxable benefits
    $0 + $43,696 related
    Filer's total
    $0 + $915,931 related

  • ERIC SMULLEN

    DIRECTOR

    Total calculated
    $587,576
    From this org
    $0
    From related orgs
    $482,672
    Other
    $104,904
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $327,503 related
    Bonus
    $0 + $152,483 related
    Other
    $0 + $2,686 related
    Deferred
    $0 + $66,477 related
    Nontaxable benefits
    $0 + $38,427 related
    Filer's total
    $0 + $587,576 related

  • GARY HAVICAN

    DIRECTOR

    Total calculated
    $801,742
    From this org
    $0
    From related orgs
    $680,223
    Other
    $121,519
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $463,732 related
    Bonus
    $0 + $212,702 related
    Other
    $0 + $3,789 related
    Deferred
    $0 + $84,416 related
    Nontaxable benefits
    $0 + $37,103 related
    Filer's total
    $0 + $801,742 related

  • JAMES O'DEA

    DIRECTOR

    Total calculated
    $588,052
    From this org
    $0
    From related orgs
    $533,272
    Other
    $54,780
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,627 related
    Bonus
    $0 + $148,968 related
    Other
    $0 + $52,677 related
    Deferred
    $0 + $21,350 related
    Nontaxable benefits
    $0 + $33,430 related
    Filer's total
    $0 + $588,052 related

  • DAVID HOLMGREN

    FMR CIO

    Total calculated
    $815,340
    From this org
    $0
    From related orgs
    $773,996
    Other
    $41,344
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $528,822 related
    Bonus
    $0 + $179,202 related
    Other
    $0 + $65,972 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $26,094 related
    Filer's total
    $0 + $815,340 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
IN 2022, A FORMER OFFICER, DAVID HOLMGREN, RECEIVED A LUMP SUM SEVERANCE PAYMENT IN THE AMOUNT OF $60,802.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
HARTFORD HEALTHCARE CORPORATION, A RELATED ORGANIZATION, MAINTAINS A 457(F) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). PARTICIPANTS INCLUDE CERTAIN OFFICERS AND KEY EMPLOYEES AT THE PRESIDENT & CEO, EXECUTIVE VICE PRESIDENT AND SENIOR VICE PRESIDENT LEVELS THAT ARE REPORTED BY HARTFORD HEALTHCARE ENDOWMENT LLC ON ITS FORM 990, PART VII. CONTRIBUTIONS ARE MADE BY HARTFORD HEALTHCARE CORPORATION TO THE PLAN BASED ON A PERCENTAGE OF THE PARTICIPANT'S COMPENSATION. PARTICIPANTS VEST IN THE PLAN AT THE EARLIER OF REACHING AGE 55 AND HAVING 5 YEARS OF SERVICE, DEATH, DISABILITY, INVOLUNTARY SEPARATION WITHOUT REASONABLE CAUSE, UPON REACHING AGE 65 OR THE OCCURRENCE OF A CHANGE IN CONTROL. EACH PARTICIPANT CEASES TO BE ELIGIBLE FOR FURTHER CONTRIBUTIONS BY HARTFORD HEALTHCARE CORPORATION ON THE DATE OF THE PARTICIPANT'S SEPARATION FROM SERVICE. PARTICIPANTS RECEIVE A ONE-TIME LUMP SUM PAYMENT OF THE ACCUMULATED AMOUNT DURING THE 30-DAY PERIOD FOLLOWING THE PARTICIPANT'S SEPARATION FROM SERVICE. 2022 SERP ACCRUALS WERE MADE ON BEHALF OF THE FOLLOWING INDIVIDUALS: BITMAL PATEL $112,486 CHIBUEZE AGBA $137,649 GARY HAVICAN $63,066 ERIC SMULLEN $45,127 2022 SERP PAYOUTS WERE MADE ON BEHALF OF THE FOLLOWING INDIVIDUALS: DONNA HADLEY $48,307* JAMES O'DEA $30,895* *FOR THESE INDIVIDUALS, VESTING OCCURRED, CAUSING TAXABLE INCOME. THIS PORTION OF THE VESTED AMOUNT WAS USED TO PAY THE ASSOCIATED TAX LIABILITY. THE REMAINING BALANCE WAS DEPOSITED INTO THE EMPLOYEE SERP ACCOUNT.
Schedule J, Part I, Line 7 Non-fixed payments
HARTFORD HEALTHCARE CORPORATION, A RELATED ORGANIZATION, HAS A COMPENSATION AT RISK PLAN THAT ENCOURAGES AND REWARDS ACHIEVEMENTS OF SIGNIFICANT FUNCTIONAL GOALS. THESE GOALS CONTRIBUTE TO THE ORGANIZATION'S STRATEGIC AND FINANCIAL DIRECTION. THE PLAN UTILIZES MARKET PRACTICE ALIGNMENT TO ENSURE COMPETITIVE RECRUITMENT AND RETENTION. AWARDS ARE BASED ON CEO AND/OR HARTFORD HEALTHCARE CORPORATION'S COMPENSATION COMMITTEE DISCRETIONARY ASSESSMENT OF OVERALL ORGANIZATION PERFORMANCE AND INDIVIDUAL CONTRIBUTION TO RESULTS.
Schedule J, Part I, Line 3 RELATED ORGANIZATION METHODS TO ESTABLISH COMPENSATION
THE INDEPENDENT EXECUTIVE COMPENSATION COMMITTEE (COMMITTEE) OF THE BOARD ENDOWMENT LLC, HIRES AN OUTSIDE CONSULTANT, HUMAN RESOURCES AND IN GOVERNING EXECUTIVE COMPENSATION. PLEASE REFER TO COMPENSATION NARRATIVE OF DIRECTORS OF HARTFORD HEALTHCARE ON BEHALF OF HARTFORD HEALTHCARE COMPENSATION CONSULTING PRACTICE OF GALLAGHER, TO DETERMINE BEST PRACTICES REPORTED ON SCHEDULE O.

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 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
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202432279349300638

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