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Nonprofiteer
← UCMC TITLE HOLDING CORPORATION

Form 990 for tax year 2022

Filed by UCMC TITLE HOLDING CORPORATION.

Totals

Total revenue
$406,220
Total expenses
$134,727
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$406,625
Investment income
-$405
Other revenue
$0
Total assets, end of year
$16,809,887
Total liabilities, end of year
$7,712,525
Net assets or fund balances, end of year
$9,097,362
Program services expenses (Part IX)
$134,727
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$134,727

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: LEASE REVENUE

    total $406,625 · related or exempt $406,625

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total -$405 · excluded -$405

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $134,727 · program services $134,727 · 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.

  • 2 · Savings and temporary cash investments

    beginning of year $5,527,853 · end of year $6,871,935

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,252,658 · end of year $1,165,314

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $9,985,305 · end of year $8,772,638

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,190,281 · end of year $115,960

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $6,500,000 · end of year $6,500,000

  • 25 · Other liabilities

    beginning of year $1,298,970 · end of year $1,096,565

  • 27 · Net assets without donor restrictions

    beginning of year $6,776,564 · end of year $9,097,362

Mission and programs · 2022

Mission

COOPERATIVELY INVEST IN FACILITIES AND EQUIPMENT FOR THE ADVANCEMENT OF PATIENT CARE AT UNIVERSITY OF CHICAGO MEDICAL CENTER.

  • LEASING OF FACILITIES AND EQUIPMENT TO THE UNIVERSITY OF CHICAGO MEDICAL CENTER

    Expenses $134,727 · Revenue $406,625

As filed on the 2022 return.

Listed in Part VII

  • Gary Gasbarra

    SECRETARY (THRU 12/6/22)

    Total calculated
    $666,986
    From this org
    $0
    From related orgs
    $581,143
    Other
    $85,843
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,412 related
    Bonus
    $0 + $89,978 related
    Other
    $0 + $141,753 related
    Deferred
    $0 + $62,431 related
    Nontaxable benefits
    $0 + $23,412 related
    Filer's total
    $0 + $666,986 related

  • Ivan Samstein

    PRESIDENT AND DIRECTOR OF BOARD

    Total calculated
    $1,404,762
    From this org
    $0
    From related orgs
    $1,193,414
    Other
    $211,348
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $873,834 related
    Bonus
    $0 + $287,750 related
    Other
    $0 + $31,830 related
    Deferred
    $0 + $176,154 related
    Nontaxable benefits
    $0 + $35,194 related
    Filer's total
    $0 + $1,404,763 related

  • Michelle Salomon

    TREASURER (EFF. 5/2/23)

    Total calculated
    $0
    Hours/week
    1 + 45 related

  • Ann McColgan

    TREASURER (THRU 5/1/23)

    Total calculated
    $541,441
    From this org
    $0
    From related orgs
    $453,543
    Other
    $87,898
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,729 related
    Bonus
    $0 + $68,220 related
    Other
    $0 + $109,594 related
    Deferred
    $0 + $49,787 related
    Nontaxable benefits
    $0 + $38,111 related
    Filer's total
    $0 + $541,441 related

  • Phillip Kaufman

    DIRECTOR (EFF. 2/23/23)

    Total calculated
    $569,534
    From this org
    $0
    From related orgs
    $480,935
    Other
    $88,599
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $384,592 related
    Bonus
    $0 + $90,228 related
    Other
    $0 + $6,115 related
    Deferred
    $0 + $64,608 related
    Nontaxable benefits
    $0 + $23,990 related
    Filer's total
    $0 + $569,534 related

  • Richard W Silveria

    FORMER CHIEF FINANCIAL OFFICER, UCMC (TIL 4/22/21)

    Total calculated
    $251,969
    From this org
    $0
    From related orgs
    $251,969
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $251,969 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $251,969 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

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

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment
IN CALENDAR YEAR 2021, RICHARD SILVERIA RECEIVED SEVERANCE PAYMENTS FOLLOWING HIS TERMINATION OF EMPLOYMENT ($251,969). SOME OF THESE AMOUNTS WERE PREVIOUSLY REPORTED ON A PRIOR FORM 990 AS DEFERRED COMPENSATION AS SET FORTH IN COLUMN (F) OF PART II.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
CERTAIN INDIVIDUALS LISTED IN SCHEDULE J, PART II PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN TO WHICH A RELATED ENTITY MAKES ANNUAL CONTRIBUTIONS. THESE CONTRIBUTIONS ARE AT RISK AND DO NOT BECOME VESTED AND PAYABLE UNLESS AND UNTIL THE INDIVIDUAL SATISFIES A SUBSTANTIAL FUTURE SERVICE REQUIREMENT. THE FOLLOWING INDIVIDUALS HAD CONTRIBUTIONS MADE TO THE PLAN IN JANUARY 2023 FOR CALENDAR YEAR 2022: ANN MCCOLGAN GARY GASBARRA IVAN SAMSTEIN PHILLIP KAUFMAN THE FOLLOWING INDIVIDUALS BECAME VESTED IN, AND WERE TAXED ON, AMOUNTS PREVIOUSLY CREDITED UNDER THE PLAN TO THE INDIVIDUAL FOR SERVICES PROVIDED TO THE ORGANIZATION IN PRIOR YEARS (INCLUDED IN 2022 W-2S): ANN MCCOLGAN - $29,271 GARY GASBARRA - $44,234 GARY GASBARRA RECEIVED A DISTRIBUTION FROM A SUPPLEMENTAL RETIREMENT PLAN FOLLOWING THEIR TERMINATION OF EMPLOYMENT, IN ACCORDANCE WITH THE GOVERNING PLAN DOCUMENT ($291,636 TO GARY GASBARRA). THESE DISTRIBUTIONS WERE REPORTED AS TAXABLE INCOME AND ARE INCLUDED IN THE COMPENSATION DISCLOSED IN SCHEDULE J IN THE REPORTED YEAR.
Schedule J, Part II
TAXABLE INCOME REPORTED IN COLUMN (B) MAY INCLUDE PAYMENTS FROM THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). IN MOST CASES, THESE PAYMENTS WERE EARNED OVER MANY YEARS OF EMPLOYMENT AND THE AMOUNTS HAD PREVIOUSLY BEEN SUBJECT TO VESTING RULES. SERP PAYMENT AMOUNTS EARNED IN PRIOR YEARS WERE PREVIOUSLY REPORTED ON THE FORM 990 AS DEFERRED COMPENSATION AND ARE REPORTED IN THIS 2022 FORM 990 ON SCHEDULE J, PART II, COLUMN (F). THE INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD CONDUCTS ITS REVIEW AND APPROVAL OF ALL EXECUTIVE COMPENSATION, INCLUDING THESE SERP AMOUNTS, IN A MANNER THAT QUALIFIES FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER FEDERAL TAX LAW. THIS IS A RIGOROUS REVIEW PROCESS DESIGNED FOR TAX-EXEMPT ORGANIZATIONS BY THE INTERNAL REVENUE SERVICE, AND IT MEANS THAT THE BOARD COMPENSATION COMMITTEE DOES NOT HAVE ANY CONFLICTS OF INTEREST, AND RELIES ON MARKET DATA COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT TO SUPPORT ALL EXECUTIVE PAY AS MARKET COMPETITIVE AND REASONABLE. FOR THE INDIVIDUALS LISTED ON SCHEDULE J, PART II THAT ARE IDENTIFIED AS FORMER OFFICERS OR KEY EMPLOYEES, THE COMPENSATION LISTED IS EITHER THE FAIR MARKET VALUE COMPENSATION PAID TO THEM FOR SERVICES THEY PERFORMED AS ACTIVE EMPLOYEES OF UCMC OR A RELATED ORGANIZATION (AND WAS NOT PAID TO THEM DUE TO THEIR FORMERLY HAVING BEEN LISTED AS OFFICERS OR KEY EMPLOYEES), OR AS COMPENSATION FOR A COMBINATION OF SERVICES AND SEVERANCE: RICHARD SILVERIA.

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.

  • ADVENTIST MIDWESTUSP SURGERY CENTERS LLC

    N/A · SURGERY CENTER · IL

    Directly controlled by NA

  • INGALLS SAME DAY SURGERY CTR

    N/A · SURGERY CENTER · IL

    Directly controlled by NA

  • PABHS-UCM MSO JV LLC

    N/A · RADIOLOGY ONCOLOGY · IL

    Directly controlled by NA

  • PABHS-UCM RADONC JV

    N/A · RADIOLOGY ONCOLOGY · IL

    Directly controlled by NA

  • UCMC-SOLIS OFF-CAMPUS MAMMOGRAPHY SERVICES LLC

    N/A · MAMMOGRAPHY · DE

    Directly controlled by NA

  • UCMC-SOLIS ON-CAMPUS MAMMOGRAPHY LLC

    N/A · MAMMOGRAPHY · DE

    Directly controlled by NA

Related corporations and trusts

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

  • CHARITABLE LEAD TRUST (0)

    Trust · CHAR LEAD TRUST · IL

    Directly controlled by NA

  • CHARITABLE REMAINDER TRUSTS (68)

    Trust · CHAR RMDR TRUST · IL

    Directly controlled by NA

  • INGALLS CASUALTY INSURANCE LTD

    C Corporation · LIAB INSURANCE · CJ

    Directly controlled by NA

  • INGALLS HEALTH COUNCIL

    C Corporation · PURCHASING GROUP · IL

    Directly controlled by NA

  • INGALLS PROVIDER GROUP

    C Corporation · INSURANCE SERVICE · IL

    Directly controlled by NA

  • MEDCENTRIX INC

    C Corporation · BILLING & MGMT · IL

    Directly controlled by NA

  • PHOENIX OVERLAY FUND LTD

    INVESTMENT · CJ

    Directly controlled by NA

  • POOLED INCOME FUND (1)

    C Corporation · POOLED INCO FUND · IL

    Directly controlled by NA

  • SC CURRICULUM INC

    C Corporation · SCNC CURRICULUM · IL

    Directly controlled by NA

  • UCHICAGO (BEIJING) CONSULTING CO LTD

    CONSULTING · CH

    Directly controlled by NA

  • UCHICAGO CENTER IN INDIA PRIVATE LIMITED

    C Corporation · CONSULTING · IN

    Directly controlled by NA

  • TRULEN INSURANCE SPC LIMITED

    LIAB INSURANCE · CJ

    Directly controlled by UCHHD

  • EMPLOYED PHYSICIANS SP A SEGREGATED PORTFOLIO OF TRULEN INSURANCE SPC LTD

    LIAB INSURANCE · CJ

    Directly controlled by UCHHD

  • HPL-GL SP A SEGREGATED PORTFOLIO OF TRULEN INSURANCE SPC LTD

    LIAB INSURANCE · CJ

    Directly controlled by UCHHD

  • NON-EMPLOYED PHYSICIANS SP A SEGREGATED PORTFOLIO OF TRULEN INSURANCE SPC L TD

    LIAB INSURANCE · CJ

    Directly controlled by UCHHD

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421349349302627

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