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Nonprofiteer
← FLORIDA COMMUNITY HEALTH NETWORK CORP

Form 990 for tax year 2022

Filed by FLORIDA COMMUNITY HEALTH NETWORK CORP.

Totals

Total revenue
$8,950,892
Total expenses
$0
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,729,710
Investment income
$178,182
Other revenue
$43,000
Total assets, end of year
$75,809,214
Total liabilities, end of year
$385,150
Net assets or fund balances, end of year
$75,424,064
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: Income from Joint Vent

    total $8,729,710 · related or exempt $8,729,710

  • 3 · Investment income

    total $178,182 · excluded $178,182

  • 11a · Other revenue: Employee Retention Cre

    total $28,000 · excluded $28,000

  • 11b · Other revenue: Other Income

    total $15,000 · excluded $15,000

  • 11e · Other revenue, total

    $43,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,850,513 · end of year $24,355,896

  • 2 · Savings and temporary cash investments

    beginning of year $34,732 · end of year $35,135

  • 4 · Accounts receivable

    beginning of year $20,396 · end of year $42,823

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,505 · end of year $15,304

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

    $29,662

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

    $26,786

  • 10c · Land, buildings and equipment, net

    beginning of year $3,419 · end of year $2,876

  • 11 · Investments: publicly traded securities

    beginning of year $255,374 · end of year $120,550

  • 13 · Investments: program-related

    beginning of year $45,898,106 · end of year $46,852,554

  • 15 · Other assets

    beginning of year $0 · end of year $4,384,076

  • 17 · Accounts payable and accrued expenses

    beginning of year $212,941 · end of year $177,477

  • 25 · Other liabilities

    beginning of year $99,118 · end of year $207,673

  • 27 · Net assets without donor restrictions

    beginning of year $48,760,986 · end of year $75,424,064

Mission and programs · 2022

Mission

To serve the objectives and purposes of its parent, Memorial Foundation, Inc., in supporting and benefiting the South Broward Hospital District and its residents through the structuring of relationships, ventures and other activities, in furtherance of the health care mission of the district, enhancing the delivery of health care services, and being responsive to the health needs of the residents of the district.

  • Investment, through wholly owned subsidiaries, in health care ventures and providers, in order to provide more efficient and reduced cost healthcare services to the community, in accordance with the policies of the South Broward Hospital District.

    Revenue $8,729,710

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Einhorn

    Chairman/Director

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Linda Cooke

    Secretary/Treasurer/Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Aurelio Fernandez

    Director (Until 07/2022)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bruce Keir

    Director

    Total calculated
    $0
    Hours/week
    1

  • Chris McFarlane

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jay Jacobs

    Director

    Total calculated
    $0
    Hours/week
    1

  • Peggy Grant

    Director

    Total calculated
    $0
    Hours/week
    1

  • Scott Wester

    Director (As of 12/2022)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Paul Sallwasser

    CEO

    Total calculated
    $504,894
    From this org
    $504,894
    From related orgs
    $0
    Other
    $0
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $420,466
    Bonus
    $84,428
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $504,894

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

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 6
Compensation for the organization's CEO is comprised of a base salary and a bonus which is based on accomplishment of predetermined objectives including attainment of the annual operating budget.

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.

  • Memorial Foundation Inc

    501(c)(3) · Support charitable activities of South Broward Hospital District · FL

  • Atlantic Coast ASC Holding Company Inc

    501(c)(3) · Support charitable activities of Florida Community Health Network Corp · FL · controlled entity

    Directly controlled by Florida Community Health Network Corp

  • Atlantic Coast ASC GP1

    501(c)(3) · Majority general partner in ambulatory surgical facility of South Florida · FL · controlled entity

    Directly controlled by Atlantic Coast ASC Holding Company Inc

  • Joe DiMaggio Children's Hospital Foundation Inc

    501(c)(3) · Support charitable activities of Joe DiMaggio Children's Hospital · FL · controlled entity

    Directly controlled by Memorial Foundation Inc

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.

  • Atlantic Coast Holdings Inc

    C · Invest in health care ventures within or close to SBHD · FL · 100% owned · share of income $16,012,882 · share of assets $38,573,347 · controlled entity

    Directly controlled by Florida Community Health Network

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202343189349302034

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