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Nonprofiteer
← CAMC FOUNDATION INC

Form 990 for tax year 2023

Filed by CAMC FOUNDATION INC.

Totals

Total revenue
$13,317,608
Total expenses
$14,660,340
Contributions and grants received
$3,676,037
Grants paid
$12,071,315
Program service revenue
$0
Investment income
$9,234,675
Other revenue
$406,896
Total assets, end of year
$320,540,831
Total liabilities, end of year
$3,109,585
Net assets or fund balances, end of year
$317,431,246
Program services expenses (Part IX)
$12,071,315
Management and general expenses
$1,900,947
Fundraising expenses
$688,078
Program service expenses (Part III)
$12,071,315

Program services were 82.3% 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

    $605,706

  • 1f · All other contributions, gifts and grants

    $3,070,331

  • 1g · Noncash contributions included above

    $10,301

  • 3 · Investment income

    total $6,956,200 · excluded $6,956,200

  • 6a · Gross rents

    real property $591,447

  • 6b · Less rental expenses

    real property $34,899

  • 6c · Rental income or loss

    real property $556,548

  • 6d · Net rental income or loss

    total $556,548 · excluded $556,548

  • 7a · Gross sales of assets other than inventory

    securities $70,930,514

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

    securities $68,652,039

  • 7c · Gain or loss

    securities $2,278,475

  • 7d · Net gain or loss

    total $2,278,475 · excluded $2,278,475

  • 8a · Fundraising events: gross income

    $67,119

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

    $605,706

  • 8b · Fundraising events: direct expenses

    $220,411

  • 8c · Net income from fundraising events

    total -$153,292 · excluded -$153,292

  • 9a · Gaming: gross income

    $3,640

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $3,640 · excluded $3,640

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,031,616 · program services $12,031,616

  • 2 · Grants to domestic individuals

    total $39,699 · program services $39,699

  • 7 · Other salaries and wages

    total $296,716 · management and general $89,015 · fundraising $207,701

  • 8 · Pension plan contributions

    total $10,167 · management and general $3,050 · fundraising $7,117

  • 9 · Other employee benefits

    total $253,430 · management and general $76,029 · fundraising $177,401

  • 10 · Payroll taxes

    total $22,190 · management and general $6,657 · fundraising $15,533

  • 11a · Fees: management

    total $287,945 · management and general $287,945

  • 11c · Fees: accounting

    total $46,301 · management and general $46,301

  • 11f · Fees: investment management

    total $1,136,601 · management and general $1,136,601

  • 12 · Advertising and promotion

    total $181,453 · fundraising $181,453

  • 13 · Office expenses

    total $14,005 · management and general $14,005

  • 14 · Information technology

    total $89,167 · management and general $89,167

  • 16 · Occupancy

    total $10,555 · management and general $10,555

  • 17 · Travel

    total $9,738 · management and general $2,921 · fundraising $6,817

  • 19 · Conferences, conventions and meetings

    total $7,348 · management and general $7,348

  • 22 · Depreciation, depletion and amortization

    total $33,569 · management and general $33,569

  • 23 · Insurance

    total $19,921 · management and general $19,921

  • 24a · Other expenses: FUNDRAISING

    total $92,056 · management and general $0 · fundraising $92,056

  • 24b · Other expenses: DONOR RECOGNITION

    total $75,286 · management and general $75,286 · fundraising $0

  • 24c · Other expenses: SUPPLIES

    total $1,845 · management and general $1,845 · fundraising $0

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $732 · management and general $732 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,387,256 · end of year $2,622,018

  • 2 · Savings and temporary cash investments

    beginning of year $13,718,636 · end of year $9,329,659

  • 3 · Pledges and grants receivable

    beginning of year $2,122,347 · end of year $373,558

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,176 · end of year $14,936

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

    $7,369,017

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

    $891,577

  • 10c · Land, buildings and equipment, net

    beginning of year $6,545,909 · end of year $6,477,440

  • 11 · Investments: publicly traded securities

    beginning of year $271,126,011 · end of year $301,672,637

  • 15 · Other assets

    beginning of year $55,171 · end of year $50,583

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,256 · end of year $189,992

  • 25 · Other liabilities

    beginning of year $1,849,562 · end of year $2,919,593

  • 27 · Net assets without donor restrictions

    beginning of year $198,081,196 · end of year $261,212,953

  • 28 · Net assets with donor restrictions

    beginning of year $95,028,492 · end of year $56,218,293

Mission and programs · 2023

Mission

OUR MISSION IS TO SUPPORT AND PROMOTE CHARLESTON AREA MEDICAL CENTER'S DELIVERY OF EXCELLENT AND COMPASSIONATE HEALTH SERVICES, AND ITS CONTRIBUTION TO THE QUALITY OF LIFE AND ECONOMIC VITALITY OF THE REGION.

Activities or mission (Part I)

RAISE FUNDS TO ASSIST CHARLESTON AREA MEDICAL CENTER, INC. IN ITS HEALTHCARE MISSION.

  • CAMC FOUNDATION, INC. PROVIDES SUPPORT TO OR FOR THE BENEFIT OF CHARLESTON AREA MEDICAL CENTER, INC. GRANTS WERE APPROVED FOR RESEARCH, EDUCATION, AND MEDICAL ASSISTANCE.

    Expenses $10,165,434 · Grants $10,165,434

  • CAMC FOUNDATION, INC. PROVIDES SUPPORT TO OR FOR THE BENEFIT OF CAMC HEALTH EDUCATION AND RESEARCH INSTITUTE, INC. GRANTS WERE APPROVED FOR RESEARCH AND EDUCATION.

    Expenses $1,830,047 · Grants $1,830,047

  • CAMC FOUNDATION, INC. PROVIDES SUPPORT TO OR FOR THE BENEFIT OF APPROXIMATELY 70 INDIVIDUALS AND COMPANIES, PARTICULARLY LOW-INCOME INDIVIDUALS AND FAMILIES.

    Expenses $75,834 · Grants $75,834

As filed on the 2023 return.

Listed in Part VII

  • DAVID L RAMSEY

    DIRECTOR & VANDALIA HEALTH CEO

    Total calculated
    $2,160,732
    From this org
    $0
    From related orgs
    $1,993,785
    Other
    $166,947
    Hours/week
    1 + 64 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,014,266 related
    Bonus
    $0 + $770,782 related
    Other
    $0 + $208,737 related
    Deferred
    $0 + $119,238 related
    Nontaxable benefits
    $0 + $47,709 related
    Filer's total
    $0 + $2,160,732 related

  • GLENN CROTTY JR MD

    DIRECTOR

    Total calculated
    $1,068,119
    From this org
    $0
    From related orgs
    $1,011,030
    Other
    $57,089
    Hours/week
    0.5 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $739,746 related
    Bonus
    $0 + $171,573 related
    Other
    $0 + $99,711 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $43,889 related
    Filer's total
    $0 + $1,068,119 related

  • JAMES P TIERNEY MD

    DIRECTOR

    Total calculated
    $726,737
    From this org
    $0
    From related orgs
    $694,531
    Other
    $32,206
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $664,331 related
    Bonus
    $0
    Other
    $0 + $30,200 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $19,006 related
    Filer's total
    $0 + $726,737 related

  • BARRY M MITCHELL MD

    DIRECTOR

    Total calculated
    $711,369
    From this org
    $0
    From related orgs
    $696,215
    Other
    $15,154
    Hours/week
    0.5 + 3 related

    Schedule J breakdown matched by us

    Base
    $0 + $672,215 related
    Bonus
    $0
    Other
    $0 + $24,000 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $1,954 related
    Filer's total
    $0 + $711,369 related

  • ROBERT B CUMMINGS

    PRESIDENT

    Total calculated
    $244,056
    From this org
    $0
    From related orgs
    $186,612
    Other
    $57,444
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $154,329 related
    Bonus
    $0 + $21,996 related
    Other
    $0 + $10,287 related
    Deferred
    $0 + $38,904 related
    Nontaxable benefits
    $0 + $18,540 related
    Filer's total
    $0 + $244,056 related

  • DENISE BURGESS

    VICE CHAIR

    Total calculated
    $134,272
    From this org
    $0
    From related orgs
    $113,361
    Other
    $20,911
    Hours/week
    0.5 + 40 related

  • ART RUBIN DO

    DIRECTOR

    Total calculated
    $62,448
    From this org
    $0
    From related orgs
    $62,448
    Other
    $0
    Hours/week
    0.5 + 41 related

  • NANCY L TIERNEY

    DIRECTOR

    Total calculated
    $3,753
    From this org
    $0
    From related orgs
    $3,753
    Other
    $0
    Hours/week
    0.5

  • DALE D CLOWSER

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • DAVID P FERRETTI

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • AMY SUMMERS SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CRAIG L GLOVER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DR STEFAN R MAXWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ELIZABETH SINCLAIR CASTLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JAMES M BECKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN R HOBLITZELL ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related

  • MARION S JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARY ELISABETH ECKERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MAXWELL L KNAPP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NANCY PAYNE BRUNS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • ROBERT THOR MEEKS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • RONALD A MURAD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SUSAN P WHEELER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JEFF SANDENE

    CFO-VANDALIA HEALTH, INC.

    Total calculated
    $1,031,333
    From this org
    $0
    From related orgs
    $776,511
    Other
    $254,822
    Hours/week
    5 + 62 related

    Schedule J breakdown matched by us

    Base
    $0 + $589,727 related
    Bonus
    $0 + $139,678 related
    Other
    $0 + $47,106 related
    Deferred
    $0 + $215,991 related
    Nontaxable benefits
    $0 + $38,831 related
    Filer's total
    $0 + $1,031,333 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
THE VANDALIA HEALTH, INC. BOARD OF DIRECTORS COMPENSATION COMMITTEE SELECTS AND SUPERVISES AN INDEPENDENT CONSULTANT WHO ADVISES THE COMMITTEE ON COMPENSATION ARRANGEMENTS AND TRANSACTIONS BETWEEN VANDALIA HEALTH, INC. SUBSIDIARIES (INCLUDING FOUNDATION) AND EXECUTIVES (INCLUDING FOUNDATION'S PRESIDENT). THE COMMITTEE USES THE DATA TO DETERMINE THE TOTAL COMPENSATION OF FOUNDATION'S PRESIDENT AND OTHER EXECUTIVE OFFICERS. THIS DATA IS REVIEWED EVERY TWO YEARS.
PART I, LINE 4B
TARGET BENEFIT SERP - A TARGET BENEFIT SERP IS OFFERED TO THREE EXECUTIVES, WITH AN ANNUAL EMPLOYER CONTRIBUTION THAT TARGETS PROVIDING 55% OF FINAL AVERAGE COMPENSATION AT AGE 60 FOR 30 YEARS OF SERVICE. THE TARGET BENEFIT IS OFFSET BY THE FROZEN DEFINED BENEFIT SERP ACCRUED BENEFIT, THE FROZEN RESTORATION PLAN BALANCE, EMPLOYER-PROVIDED QUALIFIED RETIREMENT BENEFITS, EMPLOYER-PROVIDED 457(B) PLAN BENEFITS, AND 50% OF AGE 62 SOCIAL SECURITY. EACH ANNUAL FUNDING CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 60. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. DEFINED CONTRIBUTION SERP - A DEFINED CONTRIBUTION SERP IS OFFERED TO SELECT EXECUTIVES, WITH AN ANNUAL 10% OF SALARY CONTRIBUTION. EACH ANNUAL CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 65. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. UNDER THE EXECU-FLEX BENEFIT PLAN (409A), EXECUTIVES RECEIVE 11% OF THEIR SALARY IN FLEX ALLOWANCE. THIS FLEX ALLOWANCE IS USED TO ELECT EXECUTIVE BENEFITS. ANY REMAINING FLEX ALLOWANCE IS CREDITED TO A TAX-DEFERRED CAPITAL ACCUMULATION ACCOUNT. THE MINIMUM VESTING PERIOD IS TWO YEARS, MAXIMUM IS AGE 68. A TWO YEAR NON-COMPETE AGREEMENT (SUBSTANTIAL RISK OF FORFEITURE AGREEMENT) APPLIES IF TERMINATION OF EMPLOYMENT OCCURS PRIOR TO THE VESTING DATE. CERTAIN PARTICIPANTS HAD AMOUNTS VESTED AND INCLUDED AS REPORTABLE COMPENSATION THIS YEAR, AS DETAILED BELOW: DAVID L. RAMSEY - $135,173 GLENN CROTTY JR., MD - $66,114

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202433189349312103

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