Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Patient Service Revenue

  total $27,341,932 · related or exempt $27,341,932

• 2b · Program service revenue: Other Revenue

  total $1,591,514 · related or exempt $1,591,514

• 3 · Investment income

  total $354,195 · excluded $354,195

• 7a · Gross sales of assets other than inventory

  securities $5,000,000

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

  securities $2,150,428

• 7c · Gain or loss

  securities $2,849,572

• 7d · Net gain or loss

  total $2,849,572 · excluded $2,849,572

• 11a · Other revenue: Other non-operating revenue

  total $12,825 · excluded $12,825

• 11e · Other revenue, total

  $12,825

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $691,902 · program services $691,902

• 5 · Compensation of officers, directors and key employees

  total $10,159,214 · program services $10,159,214

• 7 · Other salaries and wages

  total $7,380,008 · program services $5,313,207 · management and general $2,066,801

• 8 · Pension plan contributions

  total $1,096,377 · program services $1,096,377

• 9 · Other employee benefits

  total $3,229,092 · program services $2,667,166 · management and general $561,926

• 10 · Payroll taxes

  total $262,110 · program services $262,110

• 11b · Fees: legal

  total $129,672 · management and general $129,672

• 11c · Fees: accounting

  total $30,049 · management and general $30,049

• 11f · Fees: investment management

  total $44,899 · management and general $44,899

• 11g · Fees: other

  total $72,939 · management and general $72,939

• 13 · Office expenses

  total $889,525 · program services $376,875 · management and general $512,650

• 17 · Travel

  total $206,653 · program services $206,653

• 19 · Conferences, conventions and meetings

  total $35,541 · program services $35,541

• 22 · Depreciation, depletion and amortization

  total $1,949,512 · program services $1,949,512

• 23 · Insurance

  total $330,387 · program services $319,014 · management and general $11,373

• 24a · Other expenses: PO management services

  total $696,067 · program services $696,067

• 24b · Other expenses: Coordinated Specialty P

  total $509,583 · program services $509,583

• 24c · Other expenses: Billing service

  total $472,443 · program services $472,443

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $900,564 · end of year $2,307,026

• 2 · Savings and temporary cash investments

  beginning of year $6,379,169 · end of year $3,798,773

• 4 · Accounts receivable

  beginning of year $3,870,434 · end of year $4,973,701

• 7 · Other notes and loans receivable

  end of year $100,210

• 9 · Prepaid expenses and deferred charges

  beginning of year $897,892 · end of year $923,644

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

  $2,021,787

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

  $256,686

• 10c · Land, buildings and equipment, net

  beginning of year $1,844,602 · end of year $1,765,101

• 11 · Investments: publicly traded securities

  beginning of year $23,298,416 · end of year $24,961,518

• 12 · Investments: other securities

  beginning of year $611,359 · end of year $0

• 15 · Other assets

  beginning of year $8,633,857 · end of year $9,258,601

• 17 · Accounts payable and accrued expenses

  beginning of year $95,051 · end of year $94,915

• 18 · Grants payable

  beginning of year $237,580 · end of year $178,788

• 23 · Secured mortgages and notes payable

  beginning of year $6,781,139 · end of year $3,735,670

• 25 · Other liabilities

  beginning of year $7,867,493 · end of year $7,284,980

• 27 · Net assets without donor restrictions

  beginning of year $31,388,030 · end of year $36,794,221

• 28 · Net assets with donor restrictions

  beginning of year $67,000 · end of year $0

The filer's explanations (Part III)

Part I, Line 1a

The Foundation provides gross-up payments for mortgage forgiveness, tuition payments, long-term disability insurance, and life 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, Lines 4a-b

The Foundation established the CHMC Cardiovascular Surgical 2005 Supplemental Executive Retirement Plan (the SERP), effective as of January 1, 2005, to reward licensed physician employees with a benefit based on service. The SERP's sources of contributions are from employer discretionary amounts (if any), severance benefit, and elective deferrals. The amounts are vested after five years, attainment of age 63, death, disability, or change in control. During the year ended September 30,2022 payments were made to the physician who had vested in the plan based on the criteria. The Foundation did not make any SERP payments during the year ended September 30,2023. Part I, Line 4b: The Foundation has a deferred compensation arrangement under a nonqualified defined contribution plan to provide supplemental retirement benefits to certain employees. The Foundation did not make any defined compensation payments during the year ended September 30, 2023.

Part I, Line 7

Bonus compensation amounts are determined by the Compensation Committee of the Board of Children's Medical Center Corporation and Boston Children's Hospital (the Hospital). The amounts are discretionary based on job performance.