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← JAMES LAWRENCE KERNAN HOSPITAL ENDOWMENT FUND INCORPORATED

Form 990 for tax year 2022

Filed by JAMES LAWRENCE KERNAN HOSPITAL ENDOWMENT FUND INCORPORATED.

Totals

Total revenue
$1,325,691
Total expenses
$7,040,442
Contributions and grants received
$0
Grants paid
$7,000,000
Program service revenue
$0
Investment income
$1,325,691
Other revenue
$0
Total assets, end of year
$37,632,480
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$37,632,480
Program services expenses (Part IX)
$7,000,000
Management and general expenses
$40,442
Fundraising expenses
$0
Program service expenses (Part III)
$7,000,000

Program services were 99.4% 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.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,009,789 · related or exempt $0 · unrelated business $0 · excluded $1,009,789

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $315,902

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

    securities $0

  • 7c · Gain or loss

    securities $315,902 · other assets $0

  • 7d · Net gain or loss

    total $315,902 · related or exempt $0 · unrelated business $0 · excluded $315,902

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,000,000 · program services $7,000,000

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11f · Fees: investment management

    total $40,442 · program services $0 · management and general $40,442 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,514,697 · end of year $2,746,677

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $37,896,022 · end of year $34,885,803

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $40,410,719 · end of year $37,632,480

Mission and programs · 2022

Mission

HOLDS, OVERSEES AND DISBURSES ENDOWMENT FUNDS FOR JAMES L. KERNAN HOSPITAL, INC. (DBA "UNIVERSITY OF MARYLAND REHABILITATION AND ORTHOPAEDIC INSTITUTE").

Activities or mission (Part I)

HOLDS, OVERSEES AND DISBURSES ENDOWMENT FUNDS FOR THE JAMES LAWRENCE KERNAN HOSPITAL (JLKH).

  • THE JAMES LAWRENCE KERNAN HOSPITAL ENDOWMENT FUND ("JLKEF") PROVIDES FUNDING TO JAMES LAWRENCE KERNAN HOSPITAL ("JLKH", DOING BUSINESS AS UNIVERSITY OF MARYLAND REHABILITATION THOPAEDIC INSTITUTE) TO SUPPORT PROGRAMS THAT IMPROVE THE QUALITY OF HEALTH OF THE PEOPLE IN THE BALTIMORE COMMUNITY. JLKEF STRIVES TO BE AN AREA LEADER IN MEETING BOTH THE PRESENT AND FUTURE HEALTH CARE NEEDS OF THE COMMUNITY THROUGH FINANCIAL AND OTHER MEANS OF SUPPORT. THE ENDOWMENT FUND COORDINATES THE RECEIPT AND MANAGEMENT OF ASSETS, INCLUDING THE MANAGEMENT AND DISTRIBUTION OF FUNDS.

    Expenses $7,000,000 · Grants $7,000,000

As filed on the 2022 return.

Listed in Part VII

  • Davis VR Sherman

    PRESIDENT AND SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William F Peck

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Abby Holmes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • HENRY A GRANDIZIO CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jim Ross

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John T Chay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael T Wilmot

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MOHAN SUNTHA MD

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Phil Golden

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202421319349303127

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