Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $94,421

• 1f · All other contributions, gifts and grants

  $2,891,917

• 1g · Noncash contributions included above

  $48,782

• 3 · Investment income

  total $3,010,405 · excluded $3,010,405

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6d · Net rental income or loss

  total $0

• 7a · Gross sales of assets other than inventory

  securities $22,681,105

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

  securities $8,000,000

• 7c · Gain or loss

  securities $14,681,105

• 7d · Net gain or loss

  total $14,681,105 · excluded $14,681,105

• 8a · Fundraising events: gross income

  $6,530

• 8a · Fundraising events: contributions included on line 1c

  $94,422

• 8b · Fundraising events: direct expenses

  $7,900

• 8c · Net income from fundraising events

  total -$1,370 · excluded -$1,370

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,416,425 · program services $6,416,425

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $0

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $0

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $0

• 10 · Payroll taxes

  total $0

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $0

• 14 · Information technology

  total $0

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $0

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $0

• 20 · Interest

  total $0

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $0

• 23 · Insurance

  total $0

• 24e · All other expenses

  total $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $9,831

• 2 · Savings and temporary cash investments

  end of year $0

• 3 · Pledges and grants receivable

  beginning of year $843,166 · end of year $871,644

• 4 · Accounts receivable

  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

• 10c · Land, buildings and equipment, net

  end of year $0

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  beginning of year $111,424,829 · end of year $125,586,288

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $3,093,929 · end of year $3,154,358

• 25 · Other liabilities

  beginning of year $22,999 · end of year $22,617

• 27 · Net assets without donor restrictions

  beginning of year $68,012,320 · end of year $76,675,094

• 28 · Net assets with donor restrictions

  beginning of year $47,326,605 · end of year $52,924,410

The filer's explanations (Part III)

Part I, Line 5b: Explanation of organization compensation based on revenues of related organization

Physicians employed by Legacy affiliates are paid variable compensation based on quality, value, and production. Production is based upon the level of effort of services provided during the year measured by industry standard relative value units (RVU) and which generate revenue.

Part I, Line 6b: Explanation of organization compensation contingent on net earnings from related or

Legacy has an at-risk incentive compensation plan for management. The plan is based on meeting goals related to employee engagement, work processes, customer service, clinical quality, financial management, and certain key strategic tactics. In order to payout any at-risk incentive compensation, Legacy must exceed operating margin targets.

Part II, Compensation from Unrelated Organizations

Sch J, Part 1, Question 3 Regarding Compensation PracticesThe following describes the compensation practices of Legacy Health and its affiliates.The Compensation Committee of the Board of Directors, none of whom is a Legacy employee, reviews the compensation for executive positions. The Committee oversees the system's governance procedures with respect to intermediate sanctions legislation and the evaluation of reasonableness of compensation. The Committee reports to the Board in sufficient detail to enable the entire Board to take such actions as are required to obtain the rebuttable presumption of reasonableness. The Compensation Committee also reviews tax-reporting disclosures.Sch J, Part II, Column Breakdown Of W-2 Or Misc-1099:Column B(i) - Base compensation consists of regular base pay including employee elected deferrals for retirement plans (403(b) and 457(b) plans).Column B(ii) - The incentive compensation program for Legacy is based on predetermined criteria and reviewed and approved by the Board. Bonuses are paid to key employees for interim duties outside their primary responsibilities (e.g. Acting in Capacity).Column B(iii) - Other compensation consists of deferred compensation amounts paid to executives during the current year and were reported on prior form 990 returns. These amounts include arrangements that contain elements of a substantial risk of forfeiture conditioned on continued employment, vesting and/or a noncompete provision upon termination of employment. Distributions from 457(b) plans, reported to the employee on a 1099-R, are also included as other compensation. In addition, imputed income for insurance and other benefits is included in other compensation as well as any severance related payments.Column C - Deferred compensation includes the contributions to defined contribution plans, amounts deferred under the 457(f) plan including earnings, earnings in the 457(b) plan, and the value of the pension restoration plan. Earnings on the 457(f) and 457(b) include gains and losses on the underlying investments. The defined contribution plan is available to all employees as they become qualified to participate. The pension restoration plan provides executive pension benefits in excess of IRS mandated limits on eligible compensation to key executives. The benefits are unfunded and subject to forfeiture. Executive pension benefits are intended to make the executive's retirement benefit, as a proportion of their final average salary, comparable to all other employees, and are treated as income when paid.Column D - Nontaxable benefits include company paid health and welfare and long term care and disability benefits under group plans.Column F - Current year compensation reported as deferred in prior years.

Part III, Additional Information

SCHEDULE J REPORTING OF TRUSTEE AND OFFICERS ON LEGACY AFFILIATE RETURNS. The Foundation Ex-Officio Trustees and Officers who are also Legacy employees have their compensation paid from Legacy Health, Legacy Emanuel Hospital & Health Center or Legacy Good Samaritan Hospital. The compensation is reported for informational purposes on the Foundation return.