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← AUGUSTANA CARE FOUNDATION

Form 990 for tax year 2022

Filed by AUGUSTANA CARE FOUNDATION.

Totals

Total revenue
-$90,526
Total expenses
$2,229,519
Contributions and grants received
$0
Grants paid
$2,000,000
Program service revenue
$0
Investment income
-$90,526
Other revenue
$0
Total assets, end of year
$21,985,093
Total liabilities, end of year
$5,292,147
Net assets or fund balances, end of year
$16,692,946
Program services expenses (Part IX)
$2,000,288
Management and general expenses
$229,231
Fundraising expenses
$0
Program service expenses (Part III)
$2,000,288

Program services were 89.7% 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 $356,866 · related or exempt $0 · unrelated business $0 · excluded $356,866

  • 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

  • 7a · Gross sales of assets other than inventory

    securities $11,667,659 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $12,115,051 · other assets $0

  • 7c · Gain or loss

    securities -$447,392 · other assets $0

  • 7d · Net gain or loss

    total -$447,392 · related or exempt $0 · unrelated business $0 · excluded -$447,392

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,000,000 · program services $2,000,000

  • 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 $15,293 · program services $0 · management and general $15,293 · fundraising $0

  • 11b · Fees: legal

    total $278 · program services $0 · management and general $278 · fundraising $0

  • 11c · Fees: accounting

    total $187 · program services $0 · management and general $187 · 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 $172,946 · program services $0 · management and general $172,946 · 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

  • 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 $35,730 · program services $0 · management and general $35,730 · 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 $4,797 · program services $0 · management and general $4,797 · fundraising $0

  • 24a · Other expenses: Annuity Payment

    total $288 · program services $288 · management and general $0 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $599,075 · end of year $362,817

  • 4 · Accounts receivable

    beginning of year $30,000 · end of year $28,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10

  • 11 · Investments: publicly traded securities

    beginning of year $25,496,562 · end of year $13,534,506

  • 15 · Other assets

    end of year $8,059,770

  • 17 · Accounts payable and accrued expenses

    beginning of year $153 · end of year $154

  • 23 · Secured mortgages and notes payable

    end of year $2,271,951

  • 25 · Other liabilities

    beginning of year $3,385,033 · end of year $3,020,042

  • 27 · Net assets without donor restrictions

    beginning of year $22,740,461 · end of year $16,692,946

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

AUGUSTANA CARE FOUNDATION WAS ESTABLISHED TO HOLD AND INVEST ALL NON-OPERATING INVESTMENTS OF THE AUGUSTANA FAMILY OF CORPORATIONS.

Activities or mission (Part I)

TO HOLD AND INVEST NON-OPERATING INVESTMENTS OF THE AUGUSTANA FAMILY OF CORPORATIONS.

  • AUGUSTANA CARE FOUNDATION WAS ESTABLISHED TO ACQUIRE, RECEIVE, HOLD, INVEST, REINVEST, SELL, TRANSFER, EXCHANGE, ADMINISTER, AND MANAGE PROPERTY OF ALL KINDS FOR THE BENEFIT OF AUGUSTANA CARE AND ITS RELATED ORGANIZATIONS; OPERATE AND MANAGE AFFILIATES' ENDOWMENTS; AND DO ANY AND ALL ACTS AND THINGS THAT MAY BE DEEMED DESIRABLE OR EXPEDIENT FOR THE BENEFIT OF AUGUSTANA CARE AND ITS RELATED ORGANIZATIONS, THEIR PROGRAMS, FACULTY, STAFF AND BENEFICIARIES.

    Expenses $2,000,288 · Grants $2,000,000

As filed on the 2022 return.

Listed in Part VII

  • Robert Dahl

    PRESIDENT/CEO

    Total calculated
    $689,884
    From this org
    $0
    From related orgs
    $602,456
    Other
    $87,428
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $546,533 related
    Bonus
    $0 + $49,716 related
    Other
    $0 + $6,207 related
    Deferred
    $0 + $67,622 related
    Nontaxable benefits
    $0 + $19,807 related
    Filer's total
    $0 + $689,885 related

  • Kathy Youngquist

    CHIEF FINANCIAL OFFICER

    Total calculated
    $538,684
    From this org
    $0
    From related orgs
    $462,088
    Other
    $76,596
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $327,536 related
    Bonus
    $0
    Other
    $0 + $134,552 related
    Deferred
    $0 + $45,601 related
    Nontaxable benefits
    $0 + $25,020 related
    Filer's total
    $0 + $532,709 related

  • Kathy Kopp

    CHIEF STRATEGIC OFFICER

    Total calculated
    $397,078
    From this org
    $0
    From related orgs
    $320,482
    Other
    $76,596
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,664 related
    Bonus
    $0
    Other
    $0 + $62,818 related
    Deferred
    $0 + $50,298 related
    Nontaxable benefits
    $0 + $26,298 related
    Filer's total
    $0 + $397,078 related

  • Matthew Kern

    CHIEF OPERATING OFFICER

    Total calculated
    $390,091
    From this org
    $0
    From related orgs
    $317,298
    Other
    $72,793
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $313,032 related
    Bonus
    $0
    Other
    $0 + $4,266 related
    Deferred
    $0 + $44,525 related
    Nontaxable benefits
    $0 + $28,268 related
    Filer's total
    $0 + $390,091 related

  • Sharon Wilson

    CHIEF CLINICAL AND COMPLIANCE OFFICER

    Total calculated
    $288,172
    From this org
    $0
    From related orgs
    $245,326
    Other
    $42,846
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,660 related
    Bonus
    $0 + $19,955 related
    Other
    $0 + $12,711 related
    Deferred
    $0 + $30,259 related
    Nontaxable benefits
    $0 + $12,588 related
    Filer's total
    $0 + $288,173 related

  • Angela Brown

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $279,295
    From this org
    $0
    From related orgs
    $234,321
    Other
    $44,974
    Hours/week
    0.25 + 39.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $214,699 related
    Bonus
    $0
    Other
    $0 + $19,622 related
    Deferred
    $0 + $20,586 related
    Nontaxable benefits
    $0 + $24,388 related
    Filer's total
    $0 + $279,295 related

  • Erik Ellingson

    DIRECTOR AND CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • John Somrock

    DIRECTOR AND VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Paul Anderson

    DIRECTOR AND SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Jan Larson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Roland Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Robert Prentiss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • David Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Timothy Kuck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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 1a
CASSIA AND ITS AFFILIATES PROVIDE VEHICLE BENEFITS FOR SOME OF ITS OFFICERS AND KEY EMPLOYEES. THE EMPLOYEE IS RESPONSIBLE FOR TRACKING BUSINESS VERSUS PERSONAL USE OF THE VEHICLE. THE PERSONAL USAGE OF THE VEHICLES IS TREATED AS TAXABLE COMPENSATION BY CASSIA AND ITS AFFILIATES.
Schedule J, Part I, Line 3
THE CORPORATION RELIED ON THE PARENT ORGANIZATION, CASSIA, TO ESTABLISH THE COMPENSATION OF THE PRESIDENT/CEO. CASSIA USES THE FOLLOWING PRACTICES: INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY AND RECOMMENDATIONS FROM THE CASSIA COMPENSATION COMMITTEE TO THE CASSIA BOARD.
Schedule J, Part I, Line 4
THE FOLLOWING INDIVIDUALS PARTICIPATED IN A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN PROVIDED BY CASSIA SERVICES: KATHY KOPP, CSO - $13,263 KATHY YOUNGQUIST, CFO - $33,401 MATTHEW KERN, COO - $32,325 ANGELA BROWN, CHRO - $11,030
Schedule J, Part I, Line 6
OFFICERS OF CASSIA SERVICES AND KEY EMPLOYEES OF CASSIA AND ITS AFFILIATES ARE ELIGIBLE TO ACCRUE INCENTIVE BONUSES EACH YEAR THAT ARE CONTINGENT ON PERFORMANCE METRICS AND FINANCIAL GOALS OF THE ORGANIZATION.
Schedule J, Part II
ALL OFFICERS' COMPENSATION WAS PAID BY CASSIA SERVICES, THE MANAGEMENT SERVICES COMPANY.

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 corporations and trusts

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

  • ELIM PREFERRED SERVICES INC

    C · MEDICAL SALES · MN · 0% owned · share of income $0 · share of assets $0

  • PREFERRED SENIOR SERVICES INC

    C · MANAGEMENT SERVICES · MN · 0% owned · share of income $0 · share of assets $0

  • AUGUSTANA SENIOR DEVELOPMENT

    C · CONSULTING · MN · 0% owned

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202313149349301016

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