Totals
- Total revenue
- $2,093,787
- Total expenses
- $1,898,324
- Contributions and grants received
- $1,682,894
- Grants paid
- $1,469,247
- Program service revenue
- $0
- Investment income
- $336,460
- Other revenue
- $74,433
- Total assets, end of year
- $9,475,947
- Total liabilities, end of year
- $188,057
- Net assets or fund balances, end of year
- $9,287,890
- Program services expenses (Part IX)
- $1,469,247
- Management and general expenses
- $44,811
- Fundraising expenses
- $384,266
- Program service expenses (Part III)
- $1,469,247
Program services were 77.4% 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
$67,463
-
1e · Government grants (contributions)
$7,000
-
1f · All other contributions, gifts and grants
$1,608,431
-
1g · Noncash contributions included above
$125,923
-
3 · Investment income
total $222,832 · excluded $222,832
-
7a · Gross sales of assets other than inventory
securities $2,999,120
-
7b · Less cost or other basis and sales expenses
securities $2,885,492
-
7c · Gain or loss
securities $113,628
-
7d · Net gain or loss
total $113,628 · excluded $113,628
-
8a · Fundraising events: gross income
$131,250
-
8a · Fundraising events: contributions included on line 1c
$67,463
-
8b · Fundraising events: direct expenses
$58,904
-
8c · Net income from fundraising events
total $72,346 · excluded $72,346
-
9a · Gaming: gross income
$2,587
-
9b · Gaming: direct expenses
$500
-
9c · Net income from gaming
total $2,087 · excluded $2,087
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,469,247 · program services $1,469,247
-
11f · Fees: investment management
total $44,811 · management and general $44,811
-
13 · Office expenses
total $5,893 · fundraising $5,893
-
24a · Other expenses: Services from OHCC
total $378,373 · fundraising $378,373
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $995,719 · end of year $1,112,257
-
2 · Savings and temporary cash investments
beginning of year $290,410 · end of year $339,099
-
9 · Prepaid expenses and deferred charges
beginning of year $4,381
-
11 · Investments: publicly traded securities
beginning of year $5,970,977 · end of year $6,336,275
-
15 · Other assets
beginning of year $1,606,016 · end of year $1,688,316
-
17 · Accounts payable and accrued expenses
end of year $15,783
-
25 · Other liabilities
beginning of year $180,029 · end of year $172,274
-
27 · Net assets without donor restrictions
beginning of year $4,849,682 · end of year $5,650,316
-
28 · Net assets with donor restrictions
beginning of year $3,837,792 · end of year $3,637,574
Mission and programs · 2022
Mission
Grace Cottage Foundation supplies fundraising support and fund management for an affiliated nonprofit, Carlos G. Otis Health Care Center, Inc., which provides health care services to the public.
Activities or mission (Part I)
Provide fundraising support for Carlos G. Otis Health Care Center, Inc., which provides health care services to the public.
-
Grace Cottage Foundation supplies fundraising support for an affiliated nonprofit, Carlos G. Otis Health Care Center, Inc., which provides health care services to the public.
Expenses $1,469,247 · Grants $1,469,247
As filed on the 2022 return.
Listed in Part VII
-
Caroline Kronley
Director
- Total calculated
- $0
- Hours/week
- 1
-
Olivia Pennock
Director
- Total calculated
- $0
- Hours/week
- 1
-
Wendell Perkins
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kevin Rogers
Director
- Total calculated
- $0
- Hours/week
- 1
-
Sheila Scheuerman
Director
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Travis Shine
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rachel Stettler
President
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Suzanne Welch
Vice Pres(end 10/22)/Dir.(eff 10/22)
- Total calculated
- $0
- Hours/week
- 1
-
Tracy Sloan
Director; Vice President (eff 10/22)
- Total calculated
- $0
- Hours/week
- 1
-
David Plants
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Patricia Mack
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Douglas DiVello
CEO, OHCC
- Total calculated
- $373,150
- From this org
- $0
- From related orgs
- $324,346
- Other
- $48,804
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $256,546 related
- Bonus
- $0 + $34,473 related
- Other
- $0 + $33,327 related
- Deferred
- $0 + $9,150 related
- Nontaxable benefits
- $0 + $39,654 related
- Filer's total
- $0 + $373,150 related
-
Andrea E Seaton ex-officio
Executive Director
- Total calculated
- $181,429
- From this org
- $0
- From related orgs
- $151,451
- Other
- $29,978
- Hours/week
- 43
Schedule J breakdown matched by us
- Base
- $0 + $144,418 related
- Bonus
- $0 + $300 related
- Other
- $0 + $6,733 related
- Deferred
- $0 + $4,695 related
- Nontaxable benefits
- $0 + $25,283 related
- Filer's total
- $0 + $181,429 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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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
- The Grace Cottage Foundation does not set or determine the compensation of its Executive Director; the CEO of Otis Health Care and the Executive Director of Grace Cottage Foundation are compensated by a related organization, Carlos G. Otis Health Care Center (OHCC), which uses compensation surveys/studies and approval by the Board or compensation committee to establish their compensation. The CEO's compensation and benefits are reviewed, adjusted, and voted on by the full Board of the Hospital annually. The Hospital's Board used external market compensation data to determine the CEO's initial compensation when hired and annually uses such data to compare OHCC's CEO compensation with that of other hospital executives in the Northeast region. The CEO is excused from Board discussion and voting on issues surrounding CEO compensation and benefits.
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
-
Carlos G Otis Health Care Center Inc
$1,469,247
Transfer to parent to assist in the provision of health care services
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.
-
Carlos G Otis Health Care Center Inc
501(c)(3) · Provision of health care services · VT
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202432269349301228
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