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Nonprofiteer
← ST ELIZABETH MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by ST ELIZABETH MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$111,356
Total expenses
$587,113
Contributions and grants received
$0
Grants paid
$577,213
Program service revenue
$0
Investment income
$111,356
Other revenue
$0
Total assets, end of year
$5,473,242
Total liabilities, end of year
$166,758
Net assets or fund balances, end of year
$5,306,484
Program services expenses (Part IX)
$577,213
Management and general expenses
$9,900
Fundraising expenses
$0
Program service expenses (Part III)
$577,213

Program services were 98.3% 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.

  • 3 · Investment income

    total $111,356 · related or exempt $0 · unrelated business $0 · excluded $111,356

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $577,213 · program services $577,213

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

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

  • 6 · Compensation of disqualified persons

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

  • 7 · Other salaries and wages

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

  • 8 · Pension plan contributions

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

  • 9 · Other employee benefits

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

  • 10 · Payroll taxes

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

  • 11a · Fees: management

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

  • 11b · Fees: legal

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

  • 11c · Fees: accounting

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

  • 11d · Fees: lobbying

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

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $9,561 · program services $0 · management and general $9,561 · fundraising $0

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

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

  • 13 · Office expenses

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

  • 14 · Information technology

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

  • 15 · Royalties

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

  • 16 · Occupancy

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

  • 17 · Travel

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

  • 18 · Travel or entertainment for public officials

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

  • 19 · Conferences, conventions and meetings

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

  • 20 · Interest

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

  • 21 · Payments to affiliates

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

  • 22 · Depreciation, depletion and amortization

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

  • 23 · Insurance

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

  • 24e · All other expenses

    total $339 · program services $0 · management and general $339 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,287 · end of year $204,352

  • 2 · Savings and temporary cash investments

    beginning of year $371,390 · end of year $180,978

  • 3 · Pledges and grants receivable

    beginning of year $0

  • 12 · Investments: other securities

    beginning of year $4,654,269 · end of year $4,814,692

  • 15 · Other assets

    beginning of year $273,220 · end of year $273,220

  • 25 · Other liabilities

    beginning of year $1,250 · end of year $166,758

  • 27 · Net assets without donor restrictions

    beginning of year $4,325,527 · end of year $4,266,386

  • 28 · Net assets with donor restrictions

    beginning of year $975,389 · end of year $1,040,098

Mission and programs · 2023

Mission

Since 1984, the St. Elizabeth Medical Center Foundation has performed a vital supportive role for St. Elizabeth Community Health Services (previously St. Elizabeth Medical Center) through sponsorship or support of friend-raising, fundraising and health education activities. The Foundation provides support financial, philosophical and social, so that SECHS may continue to provide for the medical needs of the community regardless of race, national origin, creed or ability to pay.

Activities or mission (Part I)

The St Elizabeth Medical Center Foundation has performed a vital supportive role for St Elizabeth Community Health Services (previously St Elizabeth Medical Center through) sponsorship or support of friend-raising, fundraising and health education activities. The Foundation provides support financial, philosophical and social, so that SECHS may continue to provide for the medical needs of the community regardless of race, national origin, creed or ability to pay.

  • Provide financial support to St. Elizabeth Community Health Services (previously St. Elizabeth Medical Center), a voluntary not-for-profit hospital, through prior contributions and fundraising activities, as well as making funds available on an ongoing basis as per the intent of those funds.

    Expenses $577,213

As filed on the 2023 return.

Listed in Part VII

  • Darlene Stromstad

    MVHS President/CEO

    Total calculated
    $1,069,357
    From this org
    $0
    From related orgs
    $1,044,354
    Other
    $25,003
    Hours/week
    1 + 54 related

    Schedule J breakdown matched by us

    Base
    $0 + $775,000 related
    Bonus
    $0 + $248,000 related
    Other
    $0 + $21,354 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $11,803 related
    Filer's total
    $0 + $1,069,357 related

  • Louis Aiello

    MVHS CFO

    Total calculated
    $673,327
    From this org
    $0
    From related orgs
    $638,628
    Other
    $34,699
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $519,808 related
    Bonus
    $0 + $96,900 related
    Other
    $0 + $21,920 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $11,599 related
    Filer's total
    $0 + $673,327 related

  • Steve Winesett

    Chief Philanthropy Officer

    Total calculated
    $183,861
    From this org
    $0
    From related orgs
    $182,469
    Other
    $1,392
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,469 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,392 related
    Filer's total
    $0 + $183,861 related

  • John Hobika Jr

    Director/Vice President

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jim Friedel

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joseph Latella

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sam Berardino

    Director/Treasurer as of 11/2023

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Blair Jones

    Vice President/Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Manzelmann

    President

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Stephen Surace

    Treasurer through 10.2023

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Valerie Brown

    Secretary

    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

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)

Schedule J, Part I, Line 3
THE MVHS SYSTEM BOARD OF DIRECTORS HAS ESTABLISHED AN EXECUTIVE COMPENSATION COMMITTEE, WHICH IS RESPONSIBLE FOR REVIEWING THE ADEQUACY AND REASONABLENESS OF THE COMPENSATION PAID TO THE PRESIDENT/CEO AND OTHER EMPLOYEES OF THE EXECUTIVE LEADERSHIP TEAM. ON AN ANNUAL BASIS, THE COMMITTEE IS RESPONSIBLE FOR (1) REVIEWING AND RECOMMENDING TO THE BOARD CHAIR THE CEO'S COMPENSATION, INCLUDING SALARY, INCENTIVES, BENEFITS AND OTHER PREREQUISITES, FOR FINAL APPROVAL BY THE BOARD (2) REVIEWING THE COMPENSATION OF ALL OTHER EMPLOYEES OF THE EXECUTIVE LEADERSHIP TEAM, AS RECOMMENDED BY THE CEO. THE ADEQUACY AND REASONABLENESS OF ALL EXECUTIVE COMPENSATION IS ASSESSED THROUGH INDEPENDENT COMPENSATION CONSULTANTS, WHICH CONDUCT MARKET REVIEWS USING BENCHMARKING DATA FOR COMPARABLE POSITIONS IN SIMILARLY SITUATED HOSPITALS. THIS ASSESSMENT IS PROVIDED AND REVIEWED BY THE EXECUTIVE COMPENSATION COMMITTEE ON AN ANNUAL BASIS. THE INDEPENDENCE OF THE COMMITTEE MEMBERS IS REVIEWED AND VERIFIED PRIOR TO THE START OF THE ANNUAL COMPENSATION REVIEW PROCESS. SHOULD A CONFLICT PRESENT, THOSE INDIVIDUALS WITH ACTUAL OR PERCEIVED CONFLICTS ABSTAIN FROM VOTING UNTIL SUCH TIME AS THE CONFLICT CAN BE RESOLVED OR A REPLACEMENT MEMBER INS APPOINTED TO THE COMMITTEE. THE COMMITTEE'S DELIBERATIONS AND DISCUSSIONS ARE GUIDED BY A WRITTEN COMPENSATION PHILOSOPHY AND DOCUMENTED THROUGH WRITTEN MINUTES TAKEN DURING EACH MEETING. THE MINUTES INCLUDE, AMONG OTHER THINGS, THE WRITTEN MATERIALS DISTRIBUTED OR PRESENTED DURING THE MEETING AND THE SPECIFIC DECISIONS TAKEN AT THE MEETING.

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

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.

  • Cooperative Magnetic Imaging Center LP

    Related · Imaging Services · NY · 9% owned

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.0
Source object
202403189349306725

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