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Nonprofiteer
← POMONA VALLEY HOSPITAL MEDICAL CENTER FOUNDATION

Form 990 for tax year 2023

Filed by POMONA VALLEY HOSPITAL MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$2,719,536
Total expenses
$6,922,955
Contributions and grants received
$777,654
Grants paid
$5,962,618
Program service revenue
$0
Investment income
$1,941,882
Other revenue
$0
Total assets, end of year
$32,253,263
Total liabilities, end of year
$5,602,196
Net assets or fund balances, end of year
$26,651,067
Program services expenses (Part IX)
$5,962,618
Management and general expenses
$199,050
Fundraising expenses
$761,287
Program service expenses (Part III)
$5,962,618

Program services were 86.1% 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.

  • 1f · All other contributions, gifts and grants

    $777,654

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $1,941,882 · related or exempt $0 · unrelated business $0 · excluded $1,941,882

  • 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.

  • 1 · Grants to domestic organizations and governments

    total $5,962,618 · program services $5,962,618

  • 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 $371,377 · program services $0 · management and general $0 · fundraising $371,377

  • 7 · Other salaries and wages

    total $44,762 · program services $0 · management and general $4,476 · fundraising $40,286

  • 9 · Other employee benefits

    total $16,840 · program services $0 · management and general $1,684 · fundraising $15,156

  • 10 · Payroll taxes

    total $18,703 · program services $0 · management and general $1,870 · fundraising $16,833

  • 11c · Fees: accounting

    total $43,377 · program services $0 · management and general $43,377 · fundraising $0

  • 11f · Fees: investment management

    total $125,649 · program services $0 · management and general $125,649 · fundraising $0

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $119,686 · program services $0 · management and general $0 · fundraising $119,686

  • 13 · Office expenses

    total $43 · program services $0 · management and general $4 · fundraising $39

  • 24a · Other expenses: OTHER DIRECT

    total $219,900 · management and general $21,990 · fundraising $197,910

  • 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 $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $3,087,006 · end of year $4,229,144

  • 3 · Pledges and grants receivable

    beginning of year $89,397 · end of year $89,397

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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

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

    $8,200,000

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $6,600,000 · end of year $8,200,000

  • 11 · Investments: publicly traded securities

    beginning of year $23,866,497 · end of year $19,734,722

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,395,909 · end of year $5,602,196

  • 27 · Net assets without donor restrictions

    beginning of year $3,066,161 · end of year $2,627,799

  • 28 · Net assets with donor restrictions

    beginning of year $24,180,830 · end of year $24,023,268

Mission and programs · 2023

Mission

SINCE ITS INCORPORATION IN 1979, THE MISSION OF POMONA VALLEY HOSPITAL MEDICAL CENTER FOUNDATION (PVHMC FOUNDATION) HAS BEEN TO CONDUCT A DEVELOPMENT PROGRAM FOR RAISING FUNDS TO FURTHER THE OBJECTIVES OF POMONA VALLEY HOSPITAL MEDICAL CENTER (PVHMC). IN THE HOSPITAL'S 120TH YEAR OF SERVICE, PVHMC FOUNDATION CONTINUES TO PLAY AN INTEGRAL PART IN PROVIDING THE COMMUNITY WITH NATIONALLY RECOGNIZED, HIGH-QUALITY MEDICAL SERVICES.

Activities or mission (Part I)

THE MISSION OF POMONA VALLEY HOSPITAL MEDICAL CENTER FOUNDATION IS TO PROVIDE PHILANTROPIC SUPPORT TO POMONA VALLEY HOSPITAL MEDICAL CENTER.

  • POMONA VALLEY HOSPITAL MEDICAL CENTER FOUNDATION (PVHMC FOUNDATION) IS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF CALIFORNIA. THE MISSION OF PVHMC FOUNDATION IS TO RAISE FUNDS TO SUPPORT THE CAPITAL, EQUIPMENT, AND PROGRAM NEEDS OF POMONA VALLEY HOSPITAL MEDICAL CENTER. IN 2023, PVHMC FOUNDATION SUCCESSFULLY RAISED FUNDS FOR VARIOUS PROJECTS AS DESIGNATED BY THE HOSPITAL BOARD, INCLUDING RAISING FUNDS FOR THE ROBERT AND BEVERLY LEWIS OUTPATIENT PAVILION, THE STEAD HEART AND VASCULAR CENTER, NURSING SCHOLARSHIPS AND THE OB RESIDENCY PROGRAM. ANNUALLY, 85% OF THE INTEREST INCOME FROM THE ENDOWMENT FUNDS IS DISTRIBUTED TO THE HOSPITAL FOR PROJECTS INVOLVING EDUCATION, SCREENINGS AND SUPPORT GROUPS. OTHER FUNDS WERE RAISED FROM PLANNED GIFT ACTIVITY SUCH AS BEQUESTS RECEIVED AND CHARITABLE REMAINDER TRUSTS WRITTEN, TRIBUTE GIFTS, AND UNRESTRICTED GIFTS FROM TWO DIRECT MAIL APPEALS.

    Expenses $5,962,618 · Grants $5,962,618

As filed on the 2023 return.

Listed in Part VII

  • Juli Hester

    Treasurer

    Total calculated
    $493,403
    From this org
    $0
    From related orgs
    $449,082
    Other
    $44,321
    Hours/week
    4 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $447,019 related
    Bonus
    $0
    Other
    $0 + $2,064 related
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $17,921 related
    Filer's total
    $0 + $493,403 related

  • Michael Nelson

    ASST Treasurer

    Total calculated
    $947,385
    From this org
    $0
    From related orgs
    $884,779
    Other
    $62,606
    Hours/week
    4 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $634,596 related
    Bonus
    $0
    Other
    $0 + $250,183 related
    Deferred
    $0 + $42,705 related
    Nontaxable benefits
    $0 + $19,901 related
    Filer's total
    $0 + $947,385 related

  • Richard Yochum

    PRESIDENT/CEO

    Total calculated
    $1,344,615
    From this org
    $0
    From related orgs
    $1,405,548
    Other
    -$60,933
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $876,261 related
    Bonus
    $0
    Other
    $0 + $529,287 related
    Deferred
    $0 + -$80,780 related
    Nontaxable benefits
    $0 + $19,847 related
    Filer's total
    $0 + $1,344,615 related

  • Curtis Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Donald Kendrick

    FIRST VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Elmer Pineda MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gurbinder S Sadana MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Harold D Damuth Jr MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Heather Davis-Kingston MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James Kim MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey W Grant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John D Campbell III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Johnson B Lightfoote MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Keith E Pewe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kevin McCarthy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • M Hellen Rodriguez MD

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Peter J Rogers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Prasad A Jeereddi MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Crean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Rose M Erickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Susan J Nuss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William M Grant

    SECOND VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • James McL Dale

    SECRETARY/VP OF DEVELOPMENT

    Total calculated
    $371,377
    From this org
    $0
    From related orgs
    $336,293
    Other
    $35,084
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $0 + $312,006 related
    Bonus
    $0
    Other
    $0 + $24,287 related
    Deferred
    $0 + $17,406 related
    Nontaxable benefits
    $0 + $17,678 related
    Filer's total
    $0 + $371,377 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
POMONA VALLEY HOSPITAL MEDICAL CENTER (PVHMC) DETERMINES THE COMPENSATION ON BEHALF OF THE FOUNDATION FOR THE PRESIDENT/CEO OF THE FOUNDATION. THE METHODS USED BY PVHMC TO SET EXECUTIVE COMPENSATION INCLUDE COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY, AND APPROVAL BY THE COMPENSATION COMMITTEE. PLEASE SEE THE NARRATIVE FOR PART VI, LINE 15A FOR A DESCRIPTION OF THE PROCESS.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE HOSPITAL HAS EMPLOYMENT CONTRACTS WITH MR. YOCHUM AND MR. NELSON. THE CONTRACTS PROVIDE FOR A PAYMENT OF 6.92 FOR MR. NELSON AND 7.08 FOR MR. YOCHUM TIMES ANNUAL CASH COMPENSATION IF THE EXECUTIVE REMAINS EMPLOYED UNTIL THE END OF THE CONTRACT. EMPLOYMENT REQUIREMENTS ARE 46 YEARS FOR MR. YOCHUM AND 45 YEARS FOR MR. NELSON. IN THE EVENT OF VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE, ALL BENEFITS UNDER THE CONTRACT ARE FORFEITED. IN THE EVENT OF EARLY TERMINATION BECAUSE OF DEATH OR DISABILITY, A PRORATED BENEFIT WOULD BE PAID. THE CONTRACT AFFIRMS THE BOARD OF DIRECTORS HAS THE RIGHT TO TERMINATE THE CONTRACT, WITH OR WITHOUT CAUSE, AT ITS DISCRETION, AND PROVIDES A FORMULA FOR CALCULATING THE SEVERANCE PAYMENT IN THE EVENT OF INVOLUNTARY TERMINATION. ONCE THE EMPLOYEE HAS MET ALL VESTING REQUIREMENTS, AND THE AMOUNT IS NOT SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE, THE AMOUNT IS INCLUDED IN OTHER REPORTABLE COMPENSATION (SCHEDULE J, PART II, B(III)). SCHEDULE J, PART II, COLUMN C INCLUDES DEFERRED COMPENSATION OF -$110,780 FOR MR. YOCHUM AND $12,705 FOR MR. NELSON. RICHARD YOCHUM RECEIVED A DEFERRED COMPENSATION PAYOUT OF $515,483 IN 2023 OF WHICH $416,417 WAS REPORTED ON PRIOR YEAR'S FORM 990. MICHAEL NELSON RECEIVED A DEFERRED COMPENSATION PAYOUT OF $243,163 IN 2023 OF WHICH $137,839 WAS REPORTED ON PRIOR YEAR'S FORM 990.

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.

  • CRT'S (10)

    Trust · SUPPORT · CA

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443199349318459

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