Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SHARED SERVICES FOR REL ORGS

  total $7,405,022 · related or exempt $7,405,022

• 3 · Investment income

  total $26,461,242 · unrelated business $4,604,913 · excluded $21,856,329

• 7a · Gross sales of assets other than inventory

  securities $123,156,746

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

  securities $153,959,183

• 7c · Gain or loss

  securities -$30,802,437

• 7d · Net gain or loss

  total -$30,802,437 · unrelated business -$4,149,734 · excluded -$26,652,703

Functional expenses

Part IX, the statement of functional expenses.

• 11b · Fees: legal

  total $72,840 · management and general $72,840

• 11f · Fees: investment management

  total $442,699 · management and general $442,699

• 11g · Fees: other

  total $19,101 · management and general $19,101

• 13 · Office expenses

  total $79,547 · management and general $79,547

• 14 · Information technology

  total $2,254 · management and general $2,254

• 20 · Interest

  total $7,003,635 · management and general $7,003,635

• 22 · Depreciation, depletion and amortization

  total $227,645 · management and general $227,645

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $97,246,670 · end of year $177,162,142

• 4 · Accounts receivable

  beginning of year $17,214,753 · end of year $22,210,151

• 7 · Other notes and loans receivable

  beginning of year $1,212,767 · end of year $6,733,618

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,779,881 · end of year $5,100,490

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

  $4,552,905

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

  $227,645

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $4,325,260

• 11 · Investments: publicly traded securities

  beginning of year $778,842,380 · end of year $760,017,057

• 12 · Investments: other securities

  beginning of year $7,000,952 · end of year $6,550,002

• 13 · Investments: program-related

  beginning of year $2,875,000 · end of year $9,248,081

• 17 · Accounts payable and accrued expenses

  beginning of year $19,375,796 · end of year $19,016,272

• 23 · Secured mortgages and notes payable

  beginning of year $149,945,190 · end of year $246,000,000

• 25 · Other liabilities

  beginning of year $695,427,814 · end of year $667,406,514

• 27 · Net assets without donor restrictions

  beginning of year $43,423,603 · end of year $58,924,015

The filer's explanations (Part III)

SCHEDULE J, PART I, QUESTION 4A

SVP, HIGH VALUE CARE DIANA SCALISE ENTERED INTO A SEVERANCE AGREEMENT EFFECTIVE 6/2022 UNDER WHICH SHE RECEIVED 12 MONTHS CONTINUATION OF BASE SALARY PLUS CONTINUATION OF CERTAIN HEALTH BENEFITS. PAYMENTS MADE UNDER THIS AGREEMENT WERE MADE IN THE 2022 CALENDAR YEAR AND ARE THEREFORE INCLUDED IN THE AMOUNTS REPORTED HEREIN.

SCHEDULE J, PART I, QUESTION 4B

THE UNIVERSITY OF VERMONT HEALTH NETWORK, BY AND THROUGH ITS AFFILIATED SUBSIDIARIES, MAINTAINS A SUPPLEMENTAL RETIREMENT BENEFIT PLAN (SRP) UNDER CONTRACTUAL ARRANGEMENTS WITH SEVERAL PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A. PURSUANT TO THE TERMS OF THE SRP, ANNUAL CREDITS WERE MADE EQUAL TO A FIXED PERCENTAGE OF BASE SALARY. THE FOLLOWING PERSONS PARTICIPATED IN THE SRP IN CALENDAR YEAR 2022, AND THEIR RESPECTIVE FIXED PERCENTAGE IS DESIGNATED IN PARENTHESES: DR. SUNIL EAPPEN (12.24%); ALFRED GOBEILLE (10.95%); DR. JASON SANDERS (8.68%); DR. DAVID W. CLAUSS (10.04%); ERIC MILLER (8.68%); DOUGLAS A. GENTILE (8.68%); BOB ORTMYER (6.42%); ANNA T. NOONAN (8.68%); THOMAS THOMPSON (8.68%); ANYA RADER WALLACK (8.68%); ADRIANNE JOHNSON-ROSS (6.42%); ANNETTE MACIAS-HOAG (8.68%); AND JACKIE HUNTER (6.42%) . DEFERRED AMOUNTS VEST ON THE EARLIER OF: (I) JANUARY 1 OF THE THIRD PLAN YEAR AFTER THE PLAN YEAR FOR WHICH THE ACCOUNT WAS CREATED; OR (II) THE PARTICIPANT'S 65TH BIRTHDAY. GENERAL COUNSEL ERIC MILLER AND CVMC PRESIDENT & COO ANNA T. NOONAN RECEIVED SRP DISTRIBUTIONS REFLECTED IN SCH J, PART II, COL (B)(III) AND (F). FOR THE PLANS NOTED ABOVE, AMOUNTS DEFERRED DURING CALENDAR YEAR 2022 ARE INCLUDED ON SCH J, PART II, COL C. AMOUNTS DEFERRED REMAIN SUBJECT TO FOREITURE IF CERTAIN CONDITIONS ARE NOT MET.

Disregarded entities

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

• HEALTH NETWORK VENTURES HOLDING LLC

  INVESTMENT HOLDING · VT · income -$550,950 · assets $8,462,769

  Directly controlled by UNIVERSITY OF VERMONT HEALTH NETWORK

Related corporations and trusts

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

• UVMHN VENTURES INC

  C · HOLDING COMPANY · VT · 100% owned · share of income -$2,225,072 · share of assets $125,005 · controlled entity

  Directly controlled by UVMHN

• UVMHN CREDENTIALING & ENROLLMENT

  C · ADMIN SVC · VT · 100% owned · controlled entity

  Directly controlled by UVMHN VENTURES

• CHARITABLE REMAINDER TRUSTS (6)

  T · SUPPORT · VT · controlled entity

• PERPETUAL TRUSTS (10)

  T · SUPPORT · VT · controlled entity

• CHARITABLE IRREVOCABLE TRUSTS (8)

  T · SUPPORT · VT · controlled entity

• CHAMPLAIN VALLEY HEALTH NETWORK

  C · ADMIN SVC · NY · controlled entity

• MEDIQUEST INC

  C · MED OFFICE LEASE · NY · controlled entity

• YANKEE MEDICAL INC

  C · HOME MEDICAL EQUIPMENT · VT · 100% owned · share of income $2,614,442 · controlled entity

  Directly controlled by UVMHN VENTURES