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Nonprofiteer
← GRADY HEALTH RESOURCES INC

Form 990 for tax year 2022

Filed by GRADY HEALTH RESOURCES INC.

Totals

Total revenue
$730,419
Total expenses
$54,150,781
Contributions and grants received
$0
Grants paid
$53,583,958
Program service revenue
$730,419
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$54,150,781
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$54,150,781

Program services were 100.0% 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.

  • 2a · Program service revenue: LEASE INCOME

    total $730,419 · related or exempt $730,419

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $53,583,958 · program services $53,583,958

  • 24a · Other expenses: LEASE EXPENSES

    total $226,609 · program services $226,609

  • 24b · Other expenses: NMTC FEES

    total $216,297 · program services $216,297

  • 24c · Other expenses: NMTC INTEREST EXPENSE

    total $98,677 · program services $98,677

  • 24d · Other expenses: NMTC CLOSING COST AMORT

    total $25,240 · program services $25,240

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,549 · end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $7,819,871 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $80,984,321 · end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $162,308 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,217,927

  • 25 · Other liabilities

    beginning of year $30,329,760 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $53,420,362 · end of year $0

Mission and programs · 2022

Mission

TO HOLD TITLE TO PROPERTY, COLLECT INCOME, TO DISTRIBUTE INCOME, LESSEXPENSES TO GRADY MEMORIAL HOSPITAL CORPORATION, AN ORGANIZATION ASDESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND TOPERFORM ALL OTHER ACTS NECESSARY OR INCIDENTAL TO THE ABOVE AND TO DOWHATEVER IS DEEMED NECESSARY, USEFUL, ADVISABLE, OR CONDUCTIVE,DIRECTLY OR INDIRECTLY, AS DETERMINED BY THE BOARD OF DIRECTORS, TOCARRY OUT THE PURPOSE OF THE CORPORATION, AS SET FORTH IN THESEARTICLES OF INCORPORATION, INCLUDING THE EXERCISE OF ALL OTHER POWERAND AUTHORITY ENJOYED BY CORPORATION GENERALLY BY VIRTUE OF THEPROVISIONS OF THE GEORGIA NONPROFIT CORPORATION CODE (WITHIN ANDSUBJECT TO THE LIMITATIONS OF SECTION 501(C)(2) OF THE INTERNALREVENUE CODE).

Activities or mission (Part I)

TO HOLD TITLE TO PROPERTY, COLLECT INCOME, AND DISTRIBUTE TO GRADY MEMORIAL HOSPITAL CORPORATION, A 501(C)(3) ORGANIZATION.

  • ON APRIL 8, 2015, GRADY MEMORIAL HOSPITAL CORPORATION (GMHC) OBTAINED FINANCING THROUGH THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM SPONSORED BY THE U.S. DEPARTMENT OF TREASURY. THE NMTC PROGRAM PERMITS CERTAIN TAXPAYERS TO RECEIVE A CREDIT AGAINST FEDERAL INCOME TAXES FOR MAKING QUALIFIED EQUITY INVESTMENTS (QEIS) IN COMMUNITY DEVELOPMENT ENTITIES (CDES). THROUGH THE TRANSACTION, GRADY HEALTH RESOURCES, INC. (GHR), A WHOLLY-OWNED SUBSIDIARY OF GMHC, WAS FORMED FOR THE PURPOSE OF EFFECTING GMHC'S PARTICIPATION IN THE NMTC PROGRAM. THE U.S. TAX CREDIT PROVIDED TO THE INVESTOR TOTALS 39 PERCENT OF THE INITIAL VALUE OF THE QEI AND IS CLAIMED OVER A SEVEN-YEAR CREDIT ALLOWANCE PERIOD.

    Expenses $54,150,781 · Grants $53,583,958 · Revenue $730,419

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

Listed in Part VII

  • John M Haupert

    DIRECTOR & CHIEF EXEC OFFI

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • Timothy Jefferson

    DIRECTOR & SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 40 related

  • Anthony Saul

    DIRECTOR & CFO

    Total calculated
    $0
    Hours/week
    1 + 40 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.

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.

  • RELIANT EMERGENCY SPECIALTIES

    C · FLEET MAINTEN · GA

    Directly controlled by GMHC

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2022
Filed
19 July 2023
IRS schema version
2022v5.0
Source object
202342029349301034

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