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Nonprofiteer
← CHB PROPERTIES INC

Form 990 for tax year 2023

Filed by CHB PROPERTIES INC.

Totals

Total revenue
$881,317
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$881,317
Total assets, end of year
$346,349,000
Total liabilities, end of year
$329,271,305
Net assets or fund balances, end of year
$17,077,695
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 6a · Gross rents

    real property $7,218,402

  • 6b · Less rental expenses

    real property $6,337,085

  • 6c · Rental income or loss

    real property $881,317

  • 6d · Net rental income or loss

    total $881,317 · related or exempt $881,317

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,164,118 · end of year $6,719,280

  • 4 · Accounts receivable

    beginning of year $105,247 · end of year $105,247

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,423 · end of year $0

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

    $375,778,475

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

    $36,254,002

  • 10c · Land, buildings and equipment, net

    beginning of year $199,269,913 · end of year $339,524,473

  • 23 · Secured mortgages and notes payable

    beginning of year $26,999,999 · end of year $26,999,999

  • 25 · Other liabilities

    beginning of year $169,263,634 · end of year $302,271,306

  • 27 · Net assets without donor restrictions

    beginning of year $11,280,068 · end of year $17,077,695

Mission and programs · 2023

Mission

CHB Properties maintains and operates ambulatory care satellite properties for use by The Children's Hospital Corporation and its affiliated entities.

Activities or mission (Part I)

Maintains and operates ambulatory care satellite properties for Children's Hospital and other third party leases.

  • CHB Properties, Inc. (formerly known as Children's Extended Care Center) maintains and operates ambulatory care satellite properties in Peabody, Massachusetts. This organization leases space to Children's Hospital clinics and other healthcare organizations to provide healthcare services to children and others in these cities and surrounding communities.

    Revenue $881,317

As filed on the 2023 return.

Listed in Part VII

  • Kevin Churchwell MD

    President & Trustee

    Total calculated
    $3,197,892
    From this org
    $0
    From related orgs
    $3,062,633
    Other
    $135,259
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,575,560 related
    Bonus
    $0 + $927,675 related
    Other
    $0 + $559,398 related
    Deferred
    $0 + $29,700 related
    Nontaxable benefits
    $0 + $105,559 related
    Filer's total
    $0 + $3,197,892 related

  • Douglas Vanderslice

    Treasurer & Trustee

    Total calculated
    $1,684,195
    From this org
    $0
    From related orgs
    $1,604,073
    Other
    $80,122
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $902,247 related
    Bonus
    $0 + $353,818 related
    Other
    $0 + $348,008 related
    Deferred
    $0 + $29,700 related
    Nontaxable benefits
    $0 + $50,422 related
    Filer's total
    $0 + $1,684,195 related

  • Michele Garvin Esq

    Clerk & Trustee (END 10/16/23)

    Total calculated
    $1,254,786
    From this org
    $0
    From related orgs
    $1,201,614
    Other
    $53,172
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $768,780 related
    Bonus
    $0 + $270,589 related
    Other
    $0 + $162,245 related
    Deferred
    $0 + $29,700 related
    Nontaxable benefits
    $0 + $23,472 related
    Filer's total
    $0 + $1,254,786 related

  • Douglas Berthiaume

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 10 related

  • Christopher Viney JD

    Clerk & Trustee (BEGIN 10/16/23)

    Total calculated
    $195,238
    From this org
    $0
    From related orgs
    $174,862
    Other
    $20,376
    Hours/week
    1 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $114,425 related
    Bonus
    $0 + $60,000 related
    Other
    $0 + $437 related
    Deferred
    $0 + $18,616 related
    Nontaxable benefits
    $0 + $1,760 related
    Filer's total
    $0 + $195,238 related

  • Sandra Fenwick

    Former President & Trustee

    Total calculated
    $939,289
    From this org
    $0
    From related orgs
    $939,289
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $939,289 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $939,289 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)

Part I, Line 4b
Children's Hospital Corporation, a related organization, made contributions to the supplemental non-qualified retirement plan for the individuals listed below. Contribution amounts are generally based on a percentage of compensation. Participants of the supplemental executive retirement plan are fully vested. All payments with respect to a participant's separation from service will be made in a single sum following the separation from service unless participant has elected to receive the accrued interest portion of his or her account in three annual installments. Contributions were for Children's Hospital Corporation employee benefits and not for CHB Properties, Inc.'s Trustee or Officer of the Board services and/or responsibilities. During calendar year 2023, Children's Hospital Corporation made contributions to the supplemental non-qualified retirement plan for the individuals listed below: Kevin Churchwell, MD received a contribution of $482,116 Douglas Vanderslice received a contribution of $246,666 Michele Garvin, Esq. received a contribution of $123,124 During calendar year 2023, the following individual received supplemental executive retirement plan distributions from Children's Hospital Corporation: Sandra Fenwick received a distribution of $939,289
Part II
Compensation is for Children's Hospital Corporation's executive/employee services; not for CHB Properties, Inc. Trustee or Officer of the Board services.

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.

  • Franciscan Pediatrics Inc

    C · Healthcare · MA

    Directly controlled by Franciscan Hospital for Children Inc

Provenance

Return type
form_990
Tax year
2023
Filed
12 August 2025
IRS schema version
2023v6.0
Source object
202522259349301327

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