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← VIRGINIA HOSPITAL RESEARCH AND EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by VIRGINIA HOSPITAL RESEARCH AND EDUCATION FOUNDATION.

Totals

Total revenue
$7,907,898
Total expenses
$8,014,424
Contributions and grants received
$7,005,778
Grants paid
$5,001,031
Program services expenses (Part IX)
$7,813,276
Management and general expenses
$201,148
Fundraising expenses
$0
Program service expenses (Part III)
$7,813,276

Program services were 97.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • B ERIC DEATON

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL I ELLIOTT

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM LUNN

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PETER M MULKEY

    PAST CHAIR (THRU 04/24)

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL J DACEY

    DIRECTOR (FROM 04/24)

    Total calculated
    $0
    Hours/week
    1

  • JOANNE M INMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL P MCDERMOTT

    DIRECTOR (FROM 04/24)

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN J MOTEW

    DIRECTOR (THRU 01/24)

    Total calculated
    $0
    Hours/week
    1

  • MARK S NANTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KELLY CANNON

    CEO

    Total calculated
    $181,041
    From this org
    $0
    From related orgs
    $151,764
    Other
    $29,277
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $137,939 related
    Bonus
    $0 + $13,825 related
    Other
    $0
    Deferred
    $0 + $15,527 related
    Nontaxable benefits
    $0 + $13,750 related
    Filer's total
    $0 + $181,041 related

  • SEAN T CONNAUGHTON

    PRESIDENT

    Total calculated
    $978,101
    From this org
    $0
    From related orgs
    $928,478
    Other
    $49,623
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $740,029 related
    Bonus
    $0 + $188,449 related
    Other
    $0
    Deferred
    $0 + $43,500 related
    Nontaxable benefits
    $0 + $6,123 related
    Filer's total
    $0 + $978,101 related

  • ELIZABETH A MCNAMEE

    CFHRO

    Total calculated
    $265,073
    From this org
    $0
    From related orgs
    $222,771
    Other
    $42,302
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,956 related
    Bonus
    $0 + $19,815 related
    Other
    $0
    Deferred
    $0 + $21,651 related
    Nontaxable benefits
    $0 + $20,651 related
    Filer's total
    $0 + $265,073 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 — 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 3
VIRGINIA HOSPITAL AND HEALTHCARE ASSOCIATION CONTRACTS WITH A RELIABLE AND REPUTABLE CONSULTANT WHO REVIEWS APPROPRIATE COMPARATIVE DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS.
PART I, LINE 4B
EXPLANATION OF SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: DURING THIS YEAR, THE ASSOCIATION HAD TWO DEFERRED COMPENSATION PLANS FOR KEY EMPLOYEES. UNDER THE PLANS, THE ASSOCIATION CONTRIBUTES AN AMOUNT EQUAL TO 10% OF EMPLOYEES' BASE SALARY INTO THE PLAN ANNUALLY COMMENCING IN THE YEAR OF ENTRY BY THE EMPLOYEE. THE FUNDS UNDER THIS PLAN ARE HELD IN MUTUAL FUNDS AND MANAGEMENT VESTS IN THE PLAN OVER A 10-YEAR PERIOD. THE FUNDS WILL BE RELEASED UPON VESTING BY THE EXECUTIVE OR TERMINATION OF THE PLAN. DURING THIS YEAR, THE FOLLOWING INDIVIDUALS REPORTED IN PART VII PARTICIPATED IN THE PLAN: SEAN T. CONNAUGHTON AND KELLY CANNON. CONTRIBUTIONS WERE MADE TO THE PLAN IN THE FOLLOWING AMOUNTS: KELLY CANNON $18,200. A NEW SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN WAS ESTABLISHED FOR THE CEO. ON 1/1/24. A CONTRIBUTION OF $89,600 WAS MADE TO THE NEW PLAN ON THE CEO'S BEHALF IN JANUARY 2024. THE PLAN ALLOWS THE CEO TO DEFER A PORTION OF HIS BASE SALARY INTO THE PLAN.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2023
Filed
11 August 2025
IRS schema version
2023v6.0
Source object
202542249349301444

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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