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Nonprofiteer
← OIC HOLDING CORP

Form 990 for tax year 2023

Filed by OIC HOLDING CORP.

Totals

Total revenue
$291,596
Total expenses
$3,116,043
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$289,479
Investment income
$0
Other revenue
$2,117
Total assets, end of year
$32,082,074
Total liabilities, end of year
$39,646,652
Net assets or fund balances, end of year
-$7,564,578
Program services expenses (Part IX)
$3,116,043
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,116,043

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.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL INCOME

    total $289,479 · related or exempt $289,479

  • 11a · Other revenue: MISC. INCOME

    total $2,117 · related or exempt $2,117

  • 11e · Other revenue, total

    $2,117

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $19,764 · program services $19,764

  • 11g · Fees: other

    total $13,500 · program services $13,500

  • 13 · Office expenses

    total $2,025 · program services $2,025

  • 20 · Interest

    total $190,556 · program services $190,556

  • 22 · Depreciation, depletion and amortization

    total $2,677,584 · program services $2,677,584

  • 23 · Insurance

    total $153,040 · program services $153,040

  • 24a · Other expenses: TAXES & LICENSES

    total $30,238 · program services $30,238

  • 24b · Other expenses: NMTC EXPENSE

    total $29,336 · program services $29,336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,281 · end of year $50,077

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,211,850 · end of year $325,941

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

    $67,194,934

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

    $35,488,938

  • 10c · Land, buildings and equipment, net

    beginning of year $33,181,824 · end of year $31,705,996

  • 15 · Other assets

    beginning of year $866,344 · end of year $60

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,965,740 · end of year $2,846,083

  • 23 · Secured mortgages and notes payable

    beginning of year $24,577,135

  • 25 · Other liabilities

    beginning of year $12,475,555 · end of year $36,800,569

  • 27 · Net assets without donor restrictions

    beginning of year -$4,740,131 · end of year -$7,564,578

Mission and programs · 2023

Mission

TO PERFORM THE CHARITABLE FUNCTIONS AND CARRY OUT THE CHARITABLE PURPOSES OF ORTHOPAEDIC HOSPITAL (LOIC) BY MAINLY LEASING OUT THE BUILDING/OFFICES TO LOIC.

Activities or mission (Part I)

TO PERFORM THE CHARITABLE FUNCTIONS AND CARRY OUT THE CHARITABLE PURPOSES OF ORTHOPAEDIC HOSPITAL (LOIC) BY MAINLY LEASING OUT THE BUILDING/OFFICES TO LOIC

  • OIC HOLDING WAS FORMED TO HOLD REAL ESTATE FOR ORTHOPAEDIC HOSPITAL IN CONNECTION WITH THE NEW MARKET TAX CREDIT PROGRAM. AS A HOLDING COMPANY, IT DOES NOT HAVE ANY FUNDRAISING OR OPERATING ACTIVITIES.

    Expenses $3,116,043 · Revenue $291,596

As filed on the 2023 return.

Listed in Part VII

  • Harry McKellop PhD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Jonathan Lopez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Kerbanu Pudumjee

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Nancy Zytko

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Steve Valentine

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Anthony Scaduto MD

    PRESIDENT & CEO

    Total calculated
    $987,129
    From this org
    $0
    From related orgs
    $963,908
    Other
    $23,221
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $865,034 related
    Bonus
    $0
    Other
    $0 + $98,874 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $3,421 related
    Filer's total
    $0 + $987,129 related

  • Diemlan Lannie Tonnu

    VICE PRESIDENT & CFO

    Total calculated
    $499,160
    From this org
    $0
    From related orgs
    $451,019
    Other
    $48,141
    Hours/week
    0.1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $393,482 related
    Bonus
    $0 + $40,000 related
    Other
    $0 + $17,537 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $28,341 related
    Filer's total
    $0 + $499,160 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
ALL COMPENSATION IS DETERMINED BY A RELATED ORGANIZATION USING THE FOLLOWING: OFFICER POSITIONS ARE REVIEWED AND DOCUMENTED BY THE COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY. ORTHOPAEDIC HOSPITAL PARTICIPATES IN SOME SALARY SURVEYS AND BENCHMARKING TOOLS TO COMPARE SALARIES AGAINST THE MARKET.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2025
IRS schema version
2023v6.0
Source object
202511349349300111

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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