Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $402,000

• 2a · Program service revenue: Patient Service Revenue

  total $122,044,330 · related or exempt $122,044,330

• 2b · Program service revenue: Contract & miscellaneous revenue

  total $18,374,967 · related or exempt $18,374,967

• 2c · Program service revenue: Physician admin fees

  total $8,418,048 · related or exempt $8,418,048

• 2d · Program service revenue: Research revenue

  total $1,170,166 · related or exempt $1,170,166

• 3 · Investment income

  total $4,938,561 · unrelated business -$23,282 · excluded $4,961,843

• 7a · Gross sales of assets other than inventory

  securities $10,000,000

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

  securities $8,748,470

• 7c · Gain or loss

  securities $1,251,530

• 7d · Net gain or loss

  total $1,251,530 · excluded $1,251,530

• 11a · Other revenue: Non-Operating pension gains

  total $3,185,954 · excluded $3,185,954

• 11e · Other revenue, total

  $3,185,954

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,591,470 · program services $1,591,470

• 5 · Compensation of officers, directors and key employees

  total $11,929,440 · program services $11,929,440

• 7 · Other salaries and wages

  total $77,421,303 · program services $73,541,975 · management and general $3,879,328

• 8 · Pension plan contributions

  total $18,132,353 · program services $17,588,382 · management and general $543,971

• 9 · Other employee benefits

  total $17,381,507 · program services $17,144,282 · management and general $237,225

• 10 · Payroll taxes

  total $2,924,638 · program services $2,889,631 · management and general $35,007

• 11a · Fees: management

  total $166,797 · program services $71,690 · management and general $95,107

• 11b · Fees: legal

  total $417,105 · management and general $417,105

• 11f · Fees: investment management

  total $501,472 · management and general $501,472

• 11g · Fees: other

  total $2,173,768 · program services $2,173,768

• 13 · Office expenses

  total $1,424,315 · program services $1,171,470 · management and general $252,845

• 16 · Occupancy

  total $497,080 · program services $497,080

• 19 · Conferences, conventions and meetings

  total $375,382 · program services $375,382

• 22 · Depreciation, depletion and amortization

  total $123,583 · program services $123,583

• 23 · Insurance

  total $575,585 · program services $531,682 · management and general $43,903

• 24a · Other expenses: Administrative fee

  total $4,881,773 · program services $4,881,773

• 24b · Other expenses: Coordinated Specialty P

  total $3,677,523 · program services $3,677,523

• 24c · Other expenses: Research and education

  total $2,842,009 · program services $2,842,009

• 24d · Other expenses: PO management services

  total $2,621,493 · program services $2,621,493

• 24e · All other expenses

  total $2,873,367 · program services $2,873,367

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,396,015 · end of year $3,206,438

• 2 · Savings and temporary cash investments

  beginning of year $24,123,470 · end of year $27,065,985

• 4 · Accounts receivable

  beginning of year $15,010,321 · end of year $13,590,142

• 5 · Loans and receivables from officers and key people

  beginning of year $1,016,667 · end of year $916,667

• 7 · Other notes and loans receivable

  beginning of year $3,212,640 · end of year $4,122,527

• 9 · Prepaid expenses and deferred charges

  beginning of year $336,513 · end of year $366,413

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

  $1,499,655

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

  $1,403,523

• 10c · Land, buildings and equipment, net

  beginning of year $219,715 · end of year $96,132

• 11 · Investments: publicly traded securities

  beginning of year $146,466,521 · end of year $162,342,905

• 12 · Investments: other securities

  beginning of year $85,063,186 · end of year $97,805,098

• 15 · Other assets

  beginning of year $33,608,070 · end of year $41,614,721

• 17 · Accounts payable and accrued expenses

  beginning of year $11,909,063 · end of year $12,766,887

• 18 · Grants payable

  beginning of year $332,533

• 19 · Deferred revenue

  beginning of year $112,637 · end of year $192,037

• 25 · Other liabilities

  beginning of year $87,968,420 · end of year $111,455,141

• 27 · Net assets without donor restrictions

  beginning of year $208,584,647 · end of year $225,362,145

• 28 · Net assets with donor restrictions

  beginning of year $1,545,818 · end of year $1,350,818

The filer's explanations (Part III)

Part I, Line 1a

The Foundation provides gross-up payments for mortgage forgiveness, tuition payments, and long-term disability insurance. These payments are included as taxable wages during the year. All permanent full-time employees of the Foundation are eligible for the gross-up payments.

Part I, Line 4b

The Foundation established the CHMC Anesthesia Foundation, Inc. 2005 Supplemental Executive Retirement Plan (SERP), effective as of January 1, 2005 to reward licensed physician employees with a benefit based on services. The plan was restated on January 1, 2016 to the CHMC Anesthesia Foundation, Inc. 2016 After-Tax Plan (the Plan). Each participant employed on June 30 is allocated 6% of base salary, excluding bonuses and clinical incentive payments, during the Plan year. For the Plan year in which an eligible employee becomes a participant, they will receive an additional contribution equal to 6% of their Plan compensation for each year of service prior to becoming a participant. The Foundation's contributions under the Plan are taxable to the participant as they are made and are not subject to forfeiture if the participant leaves before retiring. Contributions to the Plan will be included as part of taxable wages in the W-2 of each individual. During 2023, the following participants received a contribution that is recorded on the W-2: Joseph P. Cravero, MD, $51,1500; Michael L. McManus, MD, $27,842; Kirsten C. Odegard, MD, $25,465; Cynthia Tung, MD, $22,799; Jeffrey Burns, MD, $44,442; Jue Wang, MD, $14,418; Anjali Koka, MD, $19,729; Sally Vitali, MD, $21,203; Mary Landrigan-Ossar, MD, $27,621; Christine Greco, MD, $28,672; Viviane G. Nasr, MD, $30,000; Soriano Sulpicio, MD, $33,750; Paul R. Hickey, MD, $18,160; Pete Kovatsis, MD, $23,400; Adrienne Randolph, MD, $29,400; John Fiadjoe, MD, $112,311; Walid Alrayshi, MD, $159,625; James Dinardo, MD, $35,694; and Constance Houck, MD, $25,416. In addition to the regular annual contribution, the Foundation makes a one-time contribution on behalf of participants first employed by the Foundation after December 21, 2008 after completing seven years of service. The amount of the contribution is $20,000 for each of the seven years in which the participant was a full-time employee (at least 32 hours per week), and $20,000 prorated, based on the participant's full-time equivalent percentage (FTE), for each year in which the participant worked part-time. Any pre-2016 account contributions are fully vested for each participant. The vesting schedule is 50% of post-2016 earnings account amounts vest after ten years of service, 75% vest after fifteen years of service, and amounts are fully invested after twenty years of service. The plan was frozen as of the year-ended September 30, 2022. During 2023, distributions from the After-Tax plan accounts were made to Paul R. Hickey, MD, $2,172; Sulpicio Soriano, MD, $1,132; Jeffrey Burns, MD, $64,745; Joseph P. Cravero, MD, $28,232; Christine Greco, MD, $118,503; Constance Houck, MD, $162,893; and Adrienne Randolph, MD, $905. These amounts have been reported in Schedule J, Part II, Column B(iii) for each physician. Furthermore, if any portion of these amounts were reported on previous 990s as part of total compensation earned, that portion is also being disclosed in Schedule J, Part II, Column F for the respective physician.

Part I, Line 7

The Foundation provides an annual bonus to their anesthesiologist-employees. The amounts are discretionary based on the financial performance of the Foundation and on individual job performance.