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Nonprofiteer
← PRESTON MEMORIAL FOUNDATION I INCORPORATED

Form 990 for tax year 2024

Filed by PRESTON MEMORIAL FOUNDATION I INCORPORATED.

Totals

Total revenue
$112,202
Total expenses
$39,450
Contributions and grants received
$23,278
Grants paid
$0
Program service revenue
$0
Investment income
$68,282
Other revenue
$20,642
Total assets, end of year
$1,518,629
Total liabilities, end of year
$734
Net assets or fund balances, end of year
$1,517,895
Program services expenses (Part IX)
$0
Management and general expenses
$3,316
Fundraising expenses
$36,134
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1f · All other contributions, gifts and grants

    $23,278

  • 3 · Investment income

    total $55,822 · excluded $55,822

  • 7a · Gross sales of assets other than inventory

    securities $12,460

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

    securities $0

  • 7c · Gain or loss

    securities $12,460

  • 7d · Net gain or loss

    total $12,460 · excluded $12,460

  • 8a · Fundraising events: gross income

    $20,706

  • 8b · Fundraising events: direct expenses

    $9,892

  • 8c · Net income from fundraising events

    total $10,814 · excluded $10,814

  • 11d · All other revenue

    total $9,828 · related or exempt $9,828

  • 11e · Other revenue, total

    $9,828

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $3,316 · management and general $3,316

  • 24a · Other expenses: INDIRECT FUNDRAISING

    total $36,134 · fundraising $36,134

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,459 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $17,194

  • 4 · Accounts receivable

    beginning of year $9,946 · end of year $2,141

  • 11 · Investments: publicly traded securities

    beginning of year $1,432,538 · end of year $1,499,294

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $734

  • 25 · Other liabilities

    beginning of year $162 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,467,781 · end of year $1,503,982

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $13,913

Mission and programs · 2024

Mission

RAISE, RECEIVE, AND APPLY FUNDS FOR FACILITY IMPROVEMENTS, EQUIPMENT, TECHNOLOGY, AND EXPANSION OF SERVICES.

Activities or mission (Part I)

RAISE, RECEIVE, AND APPLY FUNDS FOR FACILITY IMPROVEMENTS, EQUIPMENT, TECHNOLOGY, AND EXPANSION OF SERVICES FOR PRESTON MEMORIAL HOSPITAL.

  • THE FOUNDATION SUPPORTS ACTIVITIES OF PRESTON MEMORIAL HOSPITAL AND ITS AFFILIATED NON-PROFIT ORGANIZATIONS BY PROVIDING A COORDINATED PROGRAM OF FUND DEVELOPMENT AND CONTINUED PHILANTHROPIC SUPPORT FOR THE HOSPITAL, ASSISTING THE HOSPITAL IN OBTAINING GRANTS FROM OTHER FOUNDATIONS, PROMOTING COMMUNITY AWARENESS OF AND SUPPORT FOR THE HOSPITAL AND ASSISTING THE HOSPITAL IN IDENTIFYING COMMUNITY EXPECTATIONS AND NEEDS FOR HEALTHCARE SERVICES IN THE SERVICE AREA.

    Revenue $9,828

As filed on the 2024 return.

Listed in Part VII

  • Melissa Lockwood

    DIRECTOR/PMH CAO

    Total calculated
    $335,796
    From this org
    $0
    From related orgs
    $309,169
    Other
    $26,627
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $258,322 related
    Bonus
    $0 + $48,510 related
    Other
    $0 + $2,337 related
    Deferred
    $0 + $12,409 related
    Nontaxable benefits
    $0 + $14,218 related
    Filer's total
    $0 + $335,796 related

  • Kevin Gessler

    PMH VP OF FINANCE & TREASURER

    Total calculated
    $313,395
    From this org
    $0
    From related orgs
    $291,880
    Other
    $21,515
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,990 related
    Bonus
    $0 + $50,560 related
    Other
    $0 + $1,330 related
    Deferred
    $0 + $9,365 related
    Nontaxable benefits
    $0 + $12,150 related
    Filer's total
    $0 + $313,395 related

  • Kerry Gnik

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Tarrell Ries

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Charlie Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clint McCabe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jessica Lipscomb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kari Moreno

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kim Harless

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laurie Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Shaffer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rita McCrobie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sarah Gallaher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Trella Greaser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Shockey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Goldberg

    MHS PRESIDENT & CEO

    Total calculated
    $1,047,723
    From this org
    $0
    From related orgs
    $996,584
    Other
    $51,139
    Hours/week
    1 + 57 related

    Schedule J breakdown matched by us

    Base
    $0 + $736,828 related
    Bonus
    $0 + $241,048 related
    Other
    $0 + $18,708 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $37,339 related
    Filer's total
    $0 + $1,047,723 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 CEO'S COMPENSATION IS PAID BY MONONGALIA HEALTH SYSTEM. MONONGALIA HEALTH SYSTEM USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE CEO: COMPENSATION COMMITTEE; INDEPENDENT COMPENSATION CONSULTANT; COMPENSATION SURVEY OR STUDY; APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B:
457(F) INELIGIBLE DEFERRED COMPENSATION PLAN - A 457 F PLAN IS OFFERED TO CERTAIN MANAGEMENT AND/OR HIGHLY COMPENSATED EMPLOYEES TO OFFER THOSE EMPLOYEES A DEFERRED COMPENSATION OPPORTUNITY. THE PLAN IS INTENDED TO BE A "TOP-HAT PLAN", OR UNFUNDED DEFERRED COMPENSATION PLAN MAINTAINED FOR A SELECT GROUP OF EMPLOYEES. PARTICIPANTS MAY BECOME VESTED IN AMOUNTS CREDITED ON JANUARY 1 ELECTED BY THE PARTICIPANT AT THE TIME THE INITIAL DEFERRAL WAS ELECTED. A PARTICIPANT SHALL BECOME FULLY VESTED UPON DEATH, DISABILITY, ATTAINMENT OF AGE 60, OR SEPARATION OF SERVICE, AS DEFINED BY THE PLAN. ANY UNVESTED CONTRIBUTIONS SHALL BE FORFEITED TO THE PLAN OR EMPLOYER. FOR 2024: PER BENEFITS - NO DISTRIBUTIONS / PAYMENTS WERE MADE FROM THE PLAN; DAVID GOLDBERG WAS THE ONLY PARTICIPANT

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.

  • GENERAL DIVISION MEDICAL OFFICE BUILDING LLC

    MEDICAL OFFICE BUILDING · WV

  • DASCO-CAMC HOME MEDICAL EQUIPMENT LLC

    HOME MEDICAL EQUIPMENT · WV

  • MGH SURGERY LLC

    SURGERY CENTER · WV

  • MON HEALTH-DASCO HOME MEDICAL EQUIPMENT LLC

    HOME MEDICAL EQUIPMENT · OH

  • CHARLESTON SURGICAL HOSPITAL LLC

    SURGERY CENTER · WV

Related corporations and trusts

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

  • VANDALIA INSURANCE COMPANY

    C · INSURANCE · VT · controlled entity

  • MON HEALTH CARE INC

    C · MEDICAL EQUIPMENT · WV · controlled entity

  • STONEWALL HOME OXYGEN THERAPY INC

    C · OXYGEN THERAPY SERVICES · WV · controlled entity

  • HEALTH FACILITIES INC

    C · HEALTH CARE · WV · controlled entity

  • CENTRAL WV MEDCORP INC

    C · PHYSICIAN SERVICES · WV · controlled entity

  • DAVIS REGIONAL HEALTH PARTNERS INC

    C · CONTRACT NEGOTIATIONS · WV · controlled entity

  • XERCOR RE SEGREGATED PORTFOLIO #2 DAVIS

    C · CAPTIVE INSURANCE · CJ · controlled entity

  • FAIRMONT HOME EQUIPMENT AND SUPPLY

    C · EQUIPMENT RENT & SVC · WV · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349317420

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