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Nonprofiteer
← TEMPLETON FOUNDATION

Form 990 for tax year 2023

Filed by TEMPLETON FOUNDATION.

Totals

Total revenue
$7,319,049
Total expenses
$6,925,320
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,317,655
Investment income
$1,394
Other revenue
$0
Total assets, end of year
$47,856,540
Total liabilities, end of year
$18,591,234
Net assets or fund balances, end of year
$29,265,306
Program services expenses (Part IX)
$6,925,320
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$6,925,320

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: RENTAL INCOME

    total $7,317,655 · related or exempt $7,317,655

  • 7a · Gross sales of assets other than inventory

    other assets $1,394

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

    other assets $0

  • 7c · Gain or loss

    other assets $1,394

  • 7d · Net gain or loss

    total $1,394 · excluded $1,394

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $24,000 · program services $24,000

  • 16 · Occupancy

    total $979,081 · program services $979,081

  • 20 · Interest

    total $911,798 · program services $911,798

  • 22 · Depreciation, depletion and amortization

    total $3,067,353 · program services $3,067,353

  • 23 · Insurance

    total $203,745 · program services $203,745

  • 24a · Other expenses: MAINTENANCE

    total $685,768 · program services $685,768

  • 24b · Other expenses: OTHER FEES

    total $464,430 · program services $464,430

  • 24c · Other expenses: OUTSIDE SERVICES

    total $421,167 · program services $421,167

  • 24d · Other expenses: REAL ESTATE TAXES

    total $167,978 · program services $167,978

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $186,754 · end of year $155,882

  • 9 · Prepaid expenses and deferred charges

    beginning of year $64,232 · end of year $13,007

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

    $93,285,258

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

    $52,984,565

  • 10c · Land, buildings and equipment, net

    beginning of year $41,675,980 · end of year $40,300,693

  • 15 · Other assets

    beginning of year $7,302,746 · end of year $7,386,958

  • 17 · Accounts payable and accrued expenses

    beginning of year $122,156 · end of year $48,819

  • 20 · Tax-exempt bond liabilities

    beginning of year $19,429,079 · end of year $17,936,321

  • 25 · Other liabilities

    beginning of year $650,719 · end of year $606,094

  • 27 · Net assets without donor restrictions

    beginning of year $29,016,808 · end of year $29,254,356

  • 28 · Net assets with donor restrictions

    beginning of year $10,950 · end of year $10,950

Mission and programs · 2023

Mission

TEMPLETON FOUNDATION'S MISSION IS TO PROMOTE HEALTHCARE IN OTSEGO, CHENANGO, MADISON, ONEIDA, HERKIMER, FULTON, MONTGOMERY, SCHOHARIE, DELAWARE, AND SULLIVAN COUNTIES BY PROVIDING NECESSARY RESIDENTIAL FACILITIES AND OFFICE SPACE TO HOSPITALS AND HEALTH CARE ORGANIZATIONS WITHIN THE COUNTY AND TO MANAGE AND ADMINISTER PROPERTY HELD EXCLUSIVELY FOR CHARITABLE PURPOSES.

  • THE PRIMARY PURPOSE OF THE FOUNDATION IS TO PROMOTE HEALTHCARE IN OTSEGO, CHENANGO, MADISON, ONEIDA, HERKIMER, FULTON, MONTGOMERY, SCHOHARIE, DELAWARE AND SULLIVAN COUNTIES BY PROVIDING NECESSARY RESIDENTIAL FACILITIES AND OFFICE SPACE TO HOSPITALS AND HEALTHCARE ORGANIZATIONS IN THOSE COUNTIES AND TO MANAGE, MAINTAIN, AND ADMINISTER PROPERTY HELD EXCLUSIVELY FOR CHARITABLE PURPOSES.

    Expenses $6,925,320 · Revenue $7,317,655

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tommy Ibrahim MD

    PRESIDENT

    Total calculated
    $742,362
    From this org
    $0
    From related orgs
    $709,126
    Other
    $33,236
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $708,826 related
    Bonus
    $0 + $300 related
    Other
    $0
    Deferred
    $0 + $19,992 related
    Nontaxable benefits
    $0 + $13,244 related
    Filer's total
    $0 + $742,362 related

  • Peter Hamilton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Robert Hanft

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Kevin Moore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • James Patrick

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Douglas Willies

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Henry Weil MD

    VICE PRESIDENT

    Total calculated
    $731,092
    From this org
    $0
    From related orgs
    $691,547
    Other
    $39,545
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $691,547 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $28,892 related
    Nontaxable benefits
    $0 + $10,653 related
    Filer's total
    $0 + $731,092 related

  • Andrew Marietta

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • Jeffrey Morgan

    TREASURER (BEG. APRIL 2023)

    Total calculated
    $336,920
    From this org
    $0
    From related orgs
    $333,397
    Other
    $3,523
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $333,397 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,523 related
    Filer's total
    $0 + $336,920 related

  • Paul Swinko

    TREASURER (THRU MARCH 2023)

    Total calculated
    $502,822
    From this org
    $0
    From related orgs
    $489,022
    Other
    $13,800
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,522 related
    Bonus
    $0 + $51,250 related
    Other
    $0 + $181,250 related
    Deferred
    $0 + $12,982 related
    Nontaxable benefits
    $0 + $818 related
    Filer's total
    $0 + $502,822 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

  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 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 3
RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION THE MARY IMOGENE BASSETT HOSPITAL (DBA BASSETT MEDICAL CENTER) PROVIDES THE COMPENSATION FOR THE OFFICERS AND DIRECTORS OF THE AFFILIATES, INCLUDING TEMPLETON FOUNDATION. BASSETT MEDICAL CENTER USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION FOR SAID INDIVIDUALS: A) COMPENSATION COMMITTEE, B) INDEPENDENT COMPENSATION CONSULTANT, C) WRITTEN EMPLOYMENT CONTRACT, D) COMPENSATION SURVEY OR STUDY AND, E) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. THE TRUSTEES OF THE FOUNDATION DO NOT RECEIVE ANY COMPENSATION RELATED TO THEIR SERVICE ON THE BOARD. ANY COMPENSATION REPORTED TO TRUSTEES ON PART VII AND SCHEDULE J IS SOLELY DERIVED FROM THEIR SERVICES PROVIDED AT RELATED ORGANIZATIONS.
PART I, LINE 4A
PAUL SWINKO RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $181,250. THIS AMOUNT IS INCLUDED IN THE TOTAL REPORTED IN COLUMN B(III).

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

No itemized grants to organizations 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 partnerships

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

  • STAMFORD PROFESSIONAL ASSOCIATES

    RENTAL · NY

  • FIRST COMMUNITY CARE OF BASSETT

    HEALTHCARE · NY

Related corporations and trusts

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

  • CATSKILL CARE ENTERPRISES

    C · RETAIL PHARMACY · NY

  • LEATHERSTOCKING PHYSICIANS PC

    C · HEALTHCARE · NY

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413199349310681

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