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Nonprofiteer
← CALVERTHEALTH FOUNDATION INC

Form 990 for tax year 2022

Filed by CALVERTHEALTH FOUNDATION INC.

Totals

Total revenue
$1,057,947
Total expenses
$1,037,912
Contributions and grants received
$1,162,506
Grants paid
$924,965
Program service revenue
$0
Investment income
$0
Other revenue
-$104,559
Total assets, end of year
$6,436,398
Total liabilities, end of year
$93,035
Net assets or fund balances, end of year
$6,343,363
Program services expenses (Part IX)
$1,022,202
Management and general expenses
$15,165
Fundraising expenses
$545
Program service expenses (Part III)
$1,022,202

Program services were 98.5% 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.

  • 1c · Fundraising events

    $381,794

  • 1f · All other contributions, gifts and grants

    $780,712

  • 8a · Fundraising events: gross income

    $200,691

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

    $381,794

  • 8b · Fundraising events: direct expenses

    $305,250

  • 8c · Net income from fundraising events

    total -$104,559 · excluded -$104,559

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $752,734 · program services $752,734

  • 2 · Grants to domestic individuals

    total $172,231 · program services $172,231

  • 11g · Fees: other

    total $43,310 · program services $37,073 · management and general $6,020 · fundraising $217

  • 13 · Office expenses

    total $33,618 · program services $28,777 · management and general $4,673 · fundraising $168

  • 14 · Information technology

    total $228 · program services $195 · management and general $32 · fundraising $1

  • 19 · Conferences, conventions and meetings

    total $2,880 · program services $2,466 · management and general $400 · fundraising $14

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $11,475 · program services $9,823 · management and general $1,595 · fundraising $57

  • 24b · Other expenses: MISCELLANEOUS

    total $11,151 · program services $10,099 · management and general $1,015 · fundraising $37

  • 24c · Other expenses: NOURISHMENTS

    total $10,285 · program services $8,804 · management and general $1,430 · fundraising $51

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,823,868 · end of year $559,824

  • 3 · Pledges and grants receivable

    beginning of year $189,081 · end of year $375,132

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,111 · end of year $21,479

  • 11 · Investments: publicly traded securities

    beginning of year $5,078,267 · end of year $5,479,963

  • 17 · Accounts payable and accrued expenses

    beginning of year $249,500 · end of year $54,449

  • 25 · Other liabilities

    beginning of year $837,706 · end of year $38,586

  • 27 · Net assets without donor restrictions

    beginning of year $3,493,995 · end of year $3,748,268

  • 28 · Net assets with donor restrictions

    beginning of year $2,551,126 · end of year $2,595,095

Mission and programs · 2022

Mission

THE CALVERTHEALTH FOUNDATION IS FOCUSED ON THE DEVELOPMENT, OPTIMIZATION AND OPERATION OF MULTIPLE CHARITABLE DONATION PROGRAMS TO MAXIMIZE SUPPORT FOR CALVERTHEALTH MEDICAL CENTER AND ITS SUBSIDIARIES WHOSE VISION IS TO PROVIDE EXCEPTIONAL CARE AND MAKE A DIFFERENCE IN EVERY LIFE THEY TOUCH.

  • THE PRINCIPLE MISSION OF THE FOUNDATION IS TO SUPPORT CALVERTHEALTH MEDICAL CENTER, INC. IN FY 2023, THE FOUNDATION PROVIDED SUPPORT IN THE AMOUNT OF $569,502 TO CALVERTHEALTH MEDICAL CENTER, INC. THIS YEAR, SUPPORT WAS ALSO PROVIDED TO CALVERTHEALTH MEDICAL GROUP IN THE AMOUNT OF $183,231.

    Expenses $849,971 · Grants $752,734

  • THE SECOND PRINCIPLE MISSION OF THE FOUNDATION IS TO ADMINISTER THE SCHOLARSHIP ENDOWMENT FUNDS FOR THE BENEFIT OF NURSING, ALLIED HEALTH AND MEDICAL DOCTORATE STUDENTS IN SUPPORT OF CALVERTHEALTH MEDICAL CENTER, INC. IN FY 2023, THE FOUNDATION AWARDED $172,231 IN SCHOLARSHIPS.

    Expenses $172,231 · Grants $172,231

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bradford Jeremy

    EX-OFFICIO - CEO START 3/1/23

    Total calculated
    $0
    Hours/week
    1 + 45 related

  • Gardner Barbara

    EX-OFFICIO - CHS TREASURER

    Total calculated
    $0
    Hours/week
    1 + 45 related

  • Anastasi Grace

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Bowman Denise

    CHAIR/SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Cornellier Julie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Friedman Barry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Gaines William

    TRUSTEE

    Total calculated
    $0
    Hours/week
    4

  • Garner Lisa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Harms Marianne

    SECOND VICE-CHAIR

    Total calculated
    $0
    Hours/week
    10

  • Hooper Dwayne

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Icaza Maria

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lazarchick Brian

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Martin Brian

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Miller Dixie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Smith Frank

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Zancan Danisha

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Teague Dean

    EX-OFFICIO - CEO RETIRED 2/23

    Total calculated
    $1,169,275
    From this org
    $0
    From related orgs
    $981,444
    Other
    $187,831
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $649,226 related
    Bonus
    $0 + $320,750 related
    Other
    $0 + $11,468 related
    Deferred
    $0 + $178,851 related
    Nontaxable benefits
    $0 + $8,980 related
    Filer's total
    $0 + $1,169,275 related

  • Heithaus Carolyn

    EX-OFFICIO - CFO

    Total calculated
    $728,812
    From this org
    $0
    From related orgs
    $634,766
    Other
    $94,046
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $428,741 related
    Bonus
    $0 + $104,866 related
    Other
    $0 + $101,159 related
    Deferred
    $0 + $87,986 related
    Nontaxable benefits
    $0 + $6,105 related
    Filer's total
    $0 + $728,857 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 3
CALVERTHEALTH MEDICAL CENTER COMPENSATES THE EXECUTIVE OF THE ORGANIZATION AND THE ORGANIZATION RELIES ON CALVERTHEALTH MEDICAL CENTER TO UTILIZE THE FOLLOWING METHODS IN ESTABLISHING COMPENSATION: -CONTEMPORANEOUS SUBSTANTIATION OF THE DECISION-MAKING PROCESS -FORM 990 OF OTHER ORGANIZATIONS -WRITTEN EMPLOYMENT CONTRACT -INDEPENDENT COMPENSATION CONSULTANT -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B
THE FOLLOWING EMPLOYEES CONTRIBUTED TO (EMPLOYEE AND EMPLOYER PORTION) A RELATED ORGANIZATION'S 457(F) DEFERRED COMPENSATION PLAN: DEAN TEAGUE: $145,226 CAROLYN HEITHAUS: $53,361

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.

  • CORELIFE CALVERT PARTNERSHIP LLC

    HEALTHCARE · MD

Related corporations and trusts

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

  • CALVERT COMMUNITY HEALTH INC

    C · HEALTHCARE · MD

Provenance

Return type
form_990
Tax year
2022
Filed
23 April 2024
IRS schema version
2022v5.0
Source object
202401149349301805

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