Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $623,701

• 1d · Related organizations

  $619,276

• 1f · All other contributions, gifts and grants

  $1,244,056

• 1g · Noncash contributions included above

  $227,026

• 3 · Investment income

  total $2,515,285 · excluded $2,515,285

• 5 · Royalties

  total $760 · excluded $760

• 7a · Gross sales of assets other than inventory

  securities $12,007,037

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

  securities $10,458,291

• 7c · Gain or loss

  securities $1,548,746

• 7d · Net gain or loss

  total $1,548,746 · excluded $1,548,746

• 8a · Fundraising events: gross income

  $385,173

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

  $623,701

• 8b · Fundraising events: direct expenses

  $209,280

• 8c · Net income from fundraising events

  total $175,893 · excluded $175,893

• 9a · Gaming: gross income

  $22,587

• 9b · Gaming: direct expenses

  $7,164

• 9c · Net income from gaming

  total $15,423 · excluded $15,423

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,401,139 · program services $2,401,139

• 2 · Grants to domestic individuals

  total $480,022 · program services $480,022

• 5 · Compensation of officers, directors and key employees

  total $265,411 · program services $19,163 · management and general $84,533 · fundraising $161,715

• 7 · Other salaries and wages

  total $189,462 · program services $13,763 · management and general $60,315 · fundraising $115,384

• 8 · Pension plan contributions

  total $14,149 · program services $1,022 · management and general $4,506 · fundraising $8,621

• 9 · Other employee benefits

  total $266 · program services $19 · management and general $85 · fundraising $162

• 10 · Payroll taxes

  total $30,263 · program services $2,185 · management and general $9,639 · fundraising $18,439

• 11c · Fees: accounting

  total $47,004 · management and general $47,004

• 11f · Fees: investment management

  total $275,811 · management and general $275,811

• 11g · Fees: other

  total $8,698 · management and general $8,698

• 13 · Office expenses

  total $23,332 · management and general $9,116 · fundraising $14,216

• 17 · Travel

  total $706 · management and general $276 · fundraising $430

• 24a · Other expenses: EDUCATION

  total $15,991 · management and general $6,248 · fundraising $9,743

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $8,834 · management and general $3,451 · fundraising $5,383

• 24c · Other expenses: BANK CHARGES

  total $23 · management and general $23

• 24e · All other expenses

  total $15,135 · management and general $5,858 · fundraising $9,277

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,503 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $2,078,489 · end of year $1,716,547

• 3 · Pledges and grants receivable

  beginning of year $317,914 · end of year $169,171

• 4 · Accounts receivable

  beginning of year $1,402,068 · end of year $1,539,520

• 11 · Investments: publicly traded securities

  beginning of year $45,509,219 · end of year $48,412,300

• 12 · Investments: other securities

  beginning of year $206,696 · end of year $224,923

• 15 · Other assets

  beginning of year $423,951 · end of year $412,240

• 17 · Accounts payable and accrued expenses

  beginning of year $1,260,287 · end of year $111,417

• 25 · Other liabilities

  beginning of year $632,857 · end of year $478,674

• 27 · Net assets without donor restrictions

  beginning of year $7,162,338 · end of year $7,911,514

• 28 · Net assets with donor restrictions

  beginning of year $40,892,358 · end of year $43,973,096

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATION OF THE SENIOR EXECUTIVE TEAM OF BENEFIS HEALTH SYSTEM FOUNDATION, INC. WAS SET BY THE INDEPENDENT COMPENSATION COMMITTEE OF BENEFIS HEALTH SYSTEM, INC., WHICH IS CHARGED WITH ADMINISTERING THE SYSTEM'S EXECUTIVE COMPENSATION PHILOSOPHY, POLICIES AND PROGRAMS IN THE MANNER SET FORTH IN THE COMMITTEE'S WRITTEN CHARTER. THE COMMITTEE'S RESPONSIBILITIES INCLUDE (I) DETERMINING APPROPRIATE COMPENSATION FOR ALL EXECUTIVES, (II) EVALUATING AND ADOPTING EXECUTIVE COMPENSATION PLANS, POLICIES AND PROGRAMS, (III) REVIEWING AND APPROVING EXECUTIVE BENEFIT PLANS, AND (IV) VERIFYING THAT COMPENSATION IS APPROPRIATELY AND FULLY DISCLOSED AND REPORTED. THE COMMITTEE HAS ENGAGED AN INDEPENDENT COMPENSATION CONSULTING FIRM TO ASSIST IN ENSURING THAT AMOUNTS PAID TO THE SYSTEM'S EXECUTIVES ARE CONSISTENT WITH REASONABLE, FAIR MARKET LEVELS. THE PROCESS FOLLOWED BY THE COMMITTEE, INCLUDING THE DATA RELIED UPON AND THE COMMITTEE'S DECISIONS, WAS THOROUGHLY AND TIMELY DOCUMENTED. THIS PROCESS IS COMPLETED ON AN ANNUAL BASIS.

PART I, LINES 4A-B

FORREST EHLINGER RECEIVED SEVERANCE PAYMENT OF $110,768 IN 2024. BENEFIS HEALTH SYSTEM, INC. PROVIDES A SECTION 457F NONQUALIFIED DEFERRED COMPENSATION PLAN FOR MR. EHLINGER AND MS. HUSTED WHO MEET THE REQUIREMENTS. MR. EHLINGER AND MS. HUSTED RECEIVED A PAYOUT FROM THE PLAN IN 2024.

PART I, LINE 7

BENEFIS HEALTH SYSTEM, INC. AND ITS AFFILIATES (INCLUDING THE ORGANIZATION) MAINTAIN AN INCENTIVE COMPENSATION PLAN THAT INCORPORATES BOTH SHARED AND INDIVIDUAL GOALS FOR MEMBERS OF THE EXECUTIVE AND MANAGEMENT LEADERSHIP TEAMS. PAYMENTS PURSUANT TO THE INCENTIVE PLAN ARE SUBJECT TO A PRECONDITION THAT THE SYSTEM MUST ACHIEVE BUDGETED OPERATING PERFORMANCE. THE SYSTEM HAS ADOPTED SHARED PERFORMANCE OBJECTIVES INCLUDING SYSTEM GROWTH AS WELL AS MEASURES TIED TO WORKFORCE, PATIENT EXPERIENCE, PATIENT SAFETY, CLINICAL QUALITY, AND FINANCE/OPERATIONS. THE INDIVIDUAL PERFORMANCE OBJECTIVES ADOPTED ARE BASED ON AN ARRAY OF QUALITY, FINANCIAL, OPERATIONAL AND STRATEGIC INITIATIVES. INCENTIVE OPPORTUNITY LEVELS ARE CALCULATED BASED ON PREDETERMINED PERCENTAGES OF THE EXECUTIVE'S AND DIRECTOR'S BASE SALARY, AND VARY BASED ON THE ACHIEVEMENT OF THRESHOLD, TARGET OR STRETCH LEVELS AS TO EACH PERFORMANCE OBJECTIVE. THE SYSTEM ALSO MAINTAINS A LONG-TERM INCENTIVE PLAN DIRECTED AT RECRUITING AND RETAINING EXECUTIVE LEADERSHIP. PAYMENTS UNDER THE LONG-TERM INCENTIVE PLAN ARE CONDITIONED ON THE EXECUTIVE REMAINING EMPLOYED BY THE SYSTEM AND MAINTAINING SATISFACTORY OVERALL PERFORMANCE. INCENTIVE OPPORTUNITIES UNDER THE LONG-TERM PLAN ARE APPROVED IN ADVANCE BY THE BENEFIS HEALTH SYSTEM, INC. COMPENSATION COMMITTEE, WITH LATER PAYOUTS APPROVED BY THE COMMITTEE BASED ON ACTUAL PERFORMANCE RESULTS.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BENEFIS CASCADE RIDGE LLC

  REAL ESTATE · MT · income $0 · assets $0

  Directly controlled by BENEFIS HEALTH SYSTEM INC

• BENEFIS HEALTH SYSTEM FOUNDATION PROPERTIES LLC

  HOLDS REAL PROPERTY DONATED TO FOUNDATION · MT · income $0 · assets $0

  Directly controlled by BENEFIS HEALTH SYSTEM FOUNDATION INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• GREAT FALLS ATHLETIC CLUB LLC

  FITNESS CLUB · MT

• TREASURE STATE HEALTHCARE NETWORK LLC

  HEALTHCARE SERVICES · MT

• OLIVET HOUSING LLC

  HOUSING RENTALS · MT

Related corporations and trusts

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

• BHS 2017 TRUST

  T · INVESTMENT TRUST · CA