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Nonprofiteer
← NEWTON MEDICAL CENTER FOUNDATION

Form 990 for tax year 2022

Filed by NEWTON MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$1,881,724
Total expenses
$828,257
Contributions and grants received
$1,238,665
Grants paid
$312,251
Program service revenue
$0
Investment income
$725,614
Other revenue
-$82,555
Total assets, end of year
$30,900,027
Total liabilities, end of year
$201,484
Net assets or fund balances, end of year
$30,698,543
Program services expenses (Part IX)
$312,251
Management and general expenses
$214,414
Fundraising expenses
$301,592
Program service expenses (Part III)
$312,251

Program services were 37.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Robert Adams

    Trustee-President, Western Region

    Total calculated
    $1,082,421
    From this org
    $0
    From related orgs
    $938,328
    Other
    $144,093
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $550,818 related
    Bonus
    $0 + $386,544 related
    Other
    $0 + $966 related
    Deferred
    $0 + $121,190 related
    Nontaxable benefits
    $0 + $22,903 related
    Filer's total
    $0 + $1,082,421 related

  • Megan Sandow

    Trustee-Chief Dev Officer

    Total calculated
    $300,633
    From this org
    $0
    From related orgs
    $268,184
    Other
    $32,449
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,896 related
    Bonus
    $0 + $29,322 related
    Other
    $0 + $966 related
    Deferred
    $0 + $9,412 related
    Nontaxable benefits
    $0 + $23,037 related
    Filer's total
    $0 + $300,633 related

  • Keith VanFleet-Termed 92422

    Director of Accounting

    Total calculated
    $287,751
    From this org
    $0
    From related orgs
    $264,747
    Other
    $23,004
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,003 related
    Bonus
    $0 + $56,453 related
    Other
    $0 + $291 related
    Deferred
    $0 + $7,613 related
    Nontaxable benefits
    $0 + $15,391 related
    Filer's total
    $0 + $287,751 related

  • Buffie Dobbs

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Colleen Apter

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • David P Romano

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • E Jane Brown

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • George W Morville Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Greg Nolan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jason Apter

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey J Quinn

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Jo-Ellen McCracken Hazen

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Karl Wagner

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kim Ferruggia

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kurt Walton

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Larry Condit

    Trustee-Asst. Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Mark Avondoglio

    Trustee-Chairman

    Total calculated
    $0
    Hours/week
    2

  • Mark Cummins

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mary Waller

    Trustee - Aux. Rep

    Total calculated
    $0
    Hours/week
    2

  • Matthew Hannum

    Trustee-Secretary

    Total calculated
    $0
    Hours/week
    2

  • Michael E Holenstein

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Lanza Esq

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Richard Bourque

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Robert Masci MD FACC

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Salvatore Dispenziere III

    Trustee-Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Thomas N Ryan Esq

    Trustee-Vice Chairman

    Total calculated
    $0
    Hours/week
    2

  • Donald Costlow DVM

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Michael Walter

    SVP-Chief Financial Officer

    Total calculated
    $292,478
    From this org
    $0
    From related orgs
    $255,292
    Other
    $37,186
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $205,292 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $33,750 related
    Nontaxable benefits
    $0 + $3,436 related
    Filer's total
    $0 + $292,478 related

  • Kevin Lenahan

    EVP-Chief Business & Strategy Officer

    Total calculated
    $6,049,032
    From this org
    $0
    From related orgs
    $4,617,182
    Other
    $1,431,850
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,266,037 related
    Bonus
    $0 + $752,083 related
    Other
    $0 + $2,599,062 related
    Deferred
    $0 + $1,415,320 related
    Nontaxable benefits
    $0 + $16,530 related
    Filer's total
    $0 + $6,049,032 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
2022 Supplemental Executive Retirement Plan (SERP) Earned Credits During 2022, Atlantic Health implemented a non-qualified SERP paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. During 2022, the following Trustees received SERP credits: Robert Adams, Jr. 113,347 Michael Walter 33,750 The above amounts represent earned credits which ahve not vested and were not included in the respective 2022 W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2022 IRS 990 tax return per IRS guidance. Once the Trustees meet the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. Part I, Line 4b: 2022 Mid Career Hire Plan Earned Credits The following Officer/trustee/key employee earned credits in the non-qualified retirement plan-457(f) plan known as the Mid-Career Hire Plan (MCHP): Kevin Lenahan $1,387,870 The above amount represents earned credits which have not vested and were not included in the respective 2022 W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and as Deferred Compensation in Column (C) of Part II, Schedule J of the 2022 IRS 990 tax return per IRS guidance. Once the officer meets the applicable vesting criteria of the plan, the MCHP credits will be included as taxable compensation in their respective W-2's of that year. 2022 Mid Career Hire Plan The organization provides a supplemental non-qualified retirement plan (457f plan) known as the Mid-Career Hire Plan (MCHP) for certain officers and key employees. During 2022, the following officer/key employee received vested distributions in this non-qualified retirement plan. Such distributions were included in Box 1, Box 5 and Box 16 of their respective Form W-2: Kevin Lenahan $2,578,814 The Mid Career Hire Plan was terminated effective January 1, 2023. Any existing participants were transferred at that time into the Supplmental Exectiuve Retirement Plan (SERP) as outlined above.

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

  • Newton Medical Center

    $312,251

    Cash transfer to affiliate for support of various capital campaigns and community programs.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333179349303858

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