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Nonprofiteer
← BEACON HEALTH FOUNDATION INC

Form 990 for tax year 2022

Filed by BEACON HEALTH FOUNDATION INC.

Totals

Total revenue
$4,567,283
Total expenses
$4,623,482
Contributions and grants received
$3,733,655
Grants paid
$3,204,655
Program service revenue
$0
Investment income
$833,628
Other revenue
$0
Total assets, end of year
$38,937,076
Total liabilities, end of year
$9,988
Net assets or fund balances, end of year
$38,927,088
Program services expenses (Part IX)
$3,204,655
Management and general expenses
$771,884
Fundraising expenses
$646,943
Program service expenses (Part III)
$3,204,655

Program services were 69.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $3,733,655

  • 1g · Noncash contributions included above

    $61,008

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $591,415 · unrelated business -$4,104 · excluded $595,519

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $1,221,711

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

    securities $979,498

  • 7c · Gain or loss

    securities $242,213 · other assets $0

  • 7d · Net gain or loss

    total $242,213 · excluded $242,213

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,160,059 · program services $3,160,059

  • 2 · Grants to domestic individuals

    total $44,596 · program services $44,596

  • 7 · Other salaries and wages

    total $662,761 · management and general $291,615 · fundraising $371,146

  • 9 · Other employee benefits

    total $86,082 · management and general $37,876 · fundraising $48,206

  • 10 · Payroll taxes

    total $40,863 · management and general $17,980 · fundraising $22,883

  • 11c · Fees: accounting

    total $540 · management and general $540

  • 11g · Fees: other

    total $131,914 · program services $0 · management and general $89,337 · fundraising $42,577

  • 13 · Office expenses

    total $5,340 · management and general $2,350 · fundraising $2,990

  • 14 · Information technology

    total $1,341 · management and general $1,341

  • 16 · Occupancy

    total $17,628 · management and general $7,756 · fundraising $9,872

  • 17 · Travel

    total $13,273 · management and general $11,977 · fundraising $1,296

  • 19 · Conferences, conventions and meetings

    total $2,630 · management and general $1,157 · fundraising $1,473

  • 22 · Depreciation, depletion and amortization

    total $17,245 · management and general $17,245

  • 23 · Insurance

    total $14,272 · management and general $14,272

  • 24a · Other expenses: CORPORATE ALLOCATION

    total $191,896 · management and general $191,896

  • 24b · Other expenses: DUES/SUBSCRIPTIONS

    total $74,619 · management and general $32,832 · fundraising $41,787

  • 24c · Other expenses: CULTIVATION

    total $36,461 · fundraising $36,461

  • 24d · Other expenses: FREIGHT

    total $83 · management and general $83

  • 24e · All other expenses

    total $121,879 · program services $0 · management and general $53,627 · fundraising $68,252

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,105,580 · end of year $5,953,866

  • 3 · Pledges and grants receivable

    beginning of year $206,514 · end of year $105,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $257,989

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

    $222,565

  • 10c · Land, buildings and equipment, net

    beginning of year $52,668 · end of year $35,424

  • 11 · Investments: publicly traded securities

    beginning of year $24,502,704 · end of year $19,349,274

  • 12 · Investments: other securities

    beginning of year $12,308,598 · end of year $13,481,366

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $12,146 · end of year $12,146

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,072 · end of year $9,988

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $33,759,219 · end of year $29,573,897

  • 28 · Net assets with donor restrictions

    beginning of year $9,394,919 · end of year $9,353,191

Mission and programs · 2022

Mission

WE DELIVER OUTSTANDING CARE, INSPIRE HEALTH AND CONNECT WITH HEART.

  • SEE SCHEDULE O

    Expenses $3,204,655 · Grants $3,204,655

As filed on the 2022 return.

Listed in Part VII

  • Brad Beutter

    Vice Chair

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Diane Krill

    Chair

    Total calculated
    $1,099
    From this org
    $0
    From related orgs
    $1,099
    Other
    $0
    Hours/week
    2

  • Kurtis A Janowsky

    Secretary

    Total calculated
    $1,105
    From this org
    $0
    From related orgs
    $1,105
    Other
    $0
    Hours/week
    2

  • Angie Welter

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Carl Tiedemann

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Daniel Cripe

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Erik Brenner

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • James Sawdon

    Director

    Total calculated
    $1,099
    From this org
    $0
    From related orgs
    $1,099
    Other
    $0
    Hours/week
    2

  • Joseph M Hart

    Director

    Total calculated
    $1,102
    From this org
    $0
    From related orgs
    $1,102
    Other
    $0
    Hours/week
    2

  • LaRissa Chism Buggs MD

    Director

    Total calculated
    $710
    From this org
    $0
    From related orgs
    $710
    Other
    $0
    Hours/week
    2

  • Pam Veldman

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Paul Phair

    Director

    Total calculated
    $150
    From this org
    $0
    From related orgs
    $150
    Other
    $0
    Hours/week
    2

  • Scott Brewer

    Director

    Total calculated
    $1,100
    From this org
    $0
    From related orgs
    $1,100
    Other
    $0
    Hours/week
    2

  • Tom Shoff

    Director thru 3/31/2022

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey P Costello

    CFO

    Total calculated
    $1,005,289
    From this org
    $0
    From related orgs
    $878,794
    Other
    $126,495
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $602,522 related
    Bonus
    $0 + $122,536 related
    Other
    $0 + $153,736 related
    Deferred
    $0 + $110,781 related
    Nontaxable benefits
    $0 + $15,714 related
    Filer's total
    $0 + $1,005,289 related

  • Kreg R Gruber

    CEO

    Total calculated
    $1,764,630
    From this org
    $0
    From related orgs
    $1,543,364
    Other
    $221,266
    Hours/week
    2 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $994,922 related
    Bonus
    $0 + $261,341 related
    Other
    $0 + $287,101 related
    Deferred
    $0 + $194,557 related
    Nontaxable benefits
    $0 + $26,709 related
    Filer's total
    $0 + $1,764,631 related

  • Susan King

    President

    Total calculated
    $393,292
    From this org
    $0
    From related orgs
    $313,554
    Other
    $79,738
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $252,619 related
    Bonus
    $0 + $52,130 related
    Other
    $0 + $8,805 related
    Deferred
    $0 + $54,048 related
    Nontaxable benefits
    $0 + $25,690 related
    Filer's total
    $0 + $393,292 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
BEACON HEALTH FOUNDATION, INC. USES A RELATED ORGANIZATION'S (BEACON HEALTH SYSTEM, INC.) COMPENSATION REVIEW PROCESS. THIS REVIEW PROCESS INCLUDES AN EXTENSIVE EXAMINATION USING COMPARABLE MARKET DATA THAT IS THEN REVIEWED BY AN INDEPENDENT CONSULTANT HIRED BY, AND REPORTING TO, THE BOARD OF DIRECTORS. RECOMMENDATIONS ARE PRESENTED TO THE BOARD FOR DELIBERATION AND FINAL DECISION.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
BEACON HEALTH SYSTEM IMPLEMENTED AN EXECUTIVE RETENTION PLAN TO ATTRACT AND RETAIN KEY EMPLOYEES BY PROVIDING ADDITIONAL DEFERRED COMPENSATION. THE CHIEF EXECUTIVE OFFICER WILL PARTICIPATE IN THE PLAN AND WILL SELECT OTHER PARTICIPANTS PURSUANT TO THE GUIDELINES SET BY THE EMPLOYER'S BOARD OF DIRECTORS. THE EMPLOYER MAY MAKE CONTRIBUTIONS UNDER THE PLAN AND HAS SOLE DISCRETION OVER WHETHER TO MAKE A CONTRIBUTION. VESTING OCCURS ON JANUARY 1 OF THE FIFTH YEAR FOR WHICH SUCH CONTRIBUTIONS ARE MADE FOR PARTICIPANTS WHO HAVE BEEN CONTINUOUSLY EMPLOYED. THE PLAN ALSO ALLOWS VESTING TO OCCUR IF THE PARTICIPANT ATTAINS THE AGE OF 62. THE FOLLOWING INDIVIDUALS RECEIVED VESTED PAYMENTS IN 2022, REFLECTED IN COLUMN (B)(III): * KREG GRUBER, $146,136 * JEFFREY COSTELLO, $116,448 THE FOLLOWING INDIVIDUALS RECEIVED DEFFERED PAYMENTS IN 2022 THAT WILL VEST IN FUTURE YEARS, WHICH ARE REFLECTED IN COLUMN C: * KREG GRUBER, $182,357 * JEFFREY COSTELLO, $98,581 * SUSAN KING, $41,848

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 corporations and trusts

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

  • BEACON HEALTH VENTURES INC

    C Corporation · HOME MEDICAL · IN

    Directly controlled by NA

  • BEACON HEALTH VENTURES MICHIGAN INC

    C Corporation · HOME MEDICAL · MI

    Directly controlled by NA

  • INTEGRATED HEALTH SYSTEMS INC

    C Corporation · PERSONNEL MGMT · MI

    Directly controlled by THR

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202333149349303138

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