Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $556,140

• 1f · All other contributions, gifts and grants

  $1,076,638

• 1g · Noncash contributions included above

  $12,234

• 3 · Investment income

  total $9,801,152 · excluded $9,801,152

• 6a · Gross rents

  real property $591,447

• 6b · Less rental expenses

  real property $34,899

• 6c · Rental income or loss

  real property $556,548

• 6d · Net rental income or loss

  total $556,548 · excluded $556,548

• 7a · Gross sales of assets other than inventory

  securities $84,677,253

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

  securities $82,054,736

• 7c · Gain or loss

  securities $2,622,517

• 7d · Net gain or loss

  total $2,622,517 · excluded $2,622,517

• 8a · Fundraising events: gross income

  $58,028

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

  $556,140

• 8b · Fundraising events: direct expenses

  $179,765

• 8c · Net income from fundraising events

  total -$121,737 · excluded -$121,737

• 9a · Gaming: gross income

  $4,860

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $4,860 · excluded $4,860

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,384,094 · program services $4,384,094

• 2 · Grants to domestic individuals

  total $42,083 · program services $42,083

• 7 · Other salaries and wages

  total $287,691 · management and general $86,307 · fundraising $201,384

• 8 · Pension plan contributions

  total $5,068 · management and general $1,520 · fundraising $3,548

• 9 · Other employee benefits

  total $30,551 · management and general $9,165 · fundraising $21,386

• 10 · Payroll taxes

  total $21,408 · management and general $6,422 · fundraising $14,986

• 11a · Fees: management

  total $287,945 · management and general $287,945

• 11c · Fees: accounting

  total $32,157 · management and general $32,157

• 11f · Fees: investment management

  total $1,192,636 · management and general $1,192,636

• 12 · Advertising and promotion

  total $104,302 · fundraising $104,302

• 13 · Office expenses

  total $9,826 · management and general $9,826

• 14 · Information technology

  total $73,787 · management and general $73,787

• 16 · Occupancy

  total $8,982 · management and general $8,982

• 17 · Travel

  total $2,994 · management and general $898 · fundraising $2,096

• 19 · Conferences, conventions and meetings

  total $3,036 · management and general $3,036

• 22 · Depreciation, depletion and amortization

  total $33,882 · management and general $33,882

• 23 · Insurance

  total $47,028 · management and general $47,028

• 24a · Other expenses: FUNDRAISING

  total $85,008 · fundraising $85,008

• 24b · Other expenses: SUPPLIES

  total $3,996 · management and general $3,996

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $2,082 · management and general $2,082

• 24d · Other expenses: DONOR RECOGNITION

  total $1,189 · management and general $1,189

• 24e · All other expenses

  total -$201,070 · management and general -$201,070

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $651,211 · end of year $1,387,256

• 2 · Savings and temporary cash investments

  beginning of year $10,321,908 · end of year $13,718,636

• 3 · Pledges and grants receivable

  beginning of year $2,684,293 · end of year $2,122,347

• 9 · Prepaid expenses and deferred charges

  beginning of year $29,324 · end of year $31,176

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

  $7,369,017

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

  $823,108

• 10c · Land, buildings and equipment, net

  beginning of year $6,614,689 · end of year $6,545,909

• 11 · Investments: publicly traded securities

  beginning of year $319,326,228 · end of year $271,126,011

• 15 · Other assets

  beginning of year $49,672 · end of year $55,171

• 17 · Accounts payable and accrued expenses

  beginning of year $17,505 · end of year $27,256

• 25 · Other liabilities

  beginning of year $1,537,925 · end of year $1,849,562

• 27 · Net assets without donor restrictions

  beginning of year $230,185,544 · end of year $198,081,196

• 28 · Net assets with donor restrictions

  beginning of year $107,936,351 · end of year $95,028,492

The filer's explanations (Part III)

PART I, LINE 3

THE VANDALIA HEALTH, INC. BOARD OF DIRECTORS COMPENSATION COMMITTEE SELECTS AND SUPERVISES AN INDEPENDENT CONSULTANT WHO ADVISES THE COMMITTEE ON COMPENSATION ARRANGEMENTS AND TRANSACTIONS BETWEEN VANDALIA HEALTH, INC. SUBSIDIARIES (INCLUDING FOUNDATION) AND EXECUTIVES (INCLUDING FOUNDATION'S PRESIDENT). THE COMMITTEE USES THE DATA TO DETERMINE THE TOTAL COMPENSATION OF FOUNDATION'S PRESIDENT AND OTHER EXECUTIVE OFFICERS. THIS DATA IS REVIEWED EVERY TWO YEARS.

PART I, LINE 4B

TARGET BENEFIT SERP - A TARGET BENEFIT SERP IS OFFERED TO THREE EXECUTIVES, WITH AN ANNUAL EMPLOYER CONTRIBUTION THAT TARGETS PROVIDING 55% OF FINAL AVERAGE COMPENSATION AT AGE 60 FOR 30 YEARS OF SERVICE. THE TARGET BENEFIT IS OFFSET BY THE FROZEN DEFINED BENEFIT SERP ACCRUED BENEFIT, THE FROZEN RESTORATION PLAN BALANCE, EMPLOYER-PROVIDED QUALIFIED RETIREMENT BENEFITS, EMPLOYER-PROVIDED 457(B) PLAN BENEFITS, AND 50% OF AGE 62 SOCIAL SECURITY. EACH ANNUAL FUNDING CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 60. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. DEFINED CONTRIBUTION SERP - A DEFINED CONTRIBUTION SERP IS OFFERED TO SELECT EXECUTIVES, WITH AN ANNUAL 10% OF SALARY CONTRIBUTION. EACH ANNUAL CONTRIBUTION VESTS THE EARLIER OF 5 YEARS OR AGE 65. TAXES ARE ADVANCED FROM VESTED ACCOUNTS, WITH THE REMAINING BALANCE HELD UNTIL TERMINATION. ALL CONTRIBUTIONS ARE VESTED IN THE EVENT OF DEATH, DISABILITY, INVOLUNTARY TERMINATION WITHOUT CAUSE, OR VOLUNTARY TERMINATION FOR GOOD REASON FOLLOWING CHANGE OF CONTROL. UNVESTED CONTRIBUTIONS ARE FORFEITED FOR VOLUNTARY TERMINATION OR TERMINATION FOR CAUSE. UNDER THE EXECU-FLEX BENEFIT PLAN (409A), EXECUTIVES RECEIVE 11% OF THEIR SALARY IN FLEX ALLOWANCE. THIS FLEX ALLOWANCE IS USED TO ELECT EXECUTIVE BENEFITS. ANY REMAINING FLEX ALLOWANCE IS CREDITED TO A TAX-DEFERRED CAPITAL ACCUMULATION ACCOUNT. THE MINIMUM VESTING PERIOD IS TWO YEARS, MAXIMUM IS AGE 68. A TWO YEAR NON-COMPETE AGREEMENT (SUBSTANTIAL RISK OF FORFEITURE AGREEMENT) APPLIES IF TERMINATION OF EMPLOYMENT OCCURS PRIOR TO THE VESTING DATE. CERTAIN PARTICIPANTS HAD AMOUNTS VESTED AND INCLUDED AS REPORTABLE COMPENSATION THIS YEAR, AS DETAILED BELOW: DAVID L. RAMSEY - $142,017

Related partnerships

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

• WOMEN AND CHILDREN'S MEDICAL OFFICE BUILDING LLC

  MEDICAL OFFICE BUILDING · WV

• GENERAL DIVISION MEDICAL OFFICE BUILDING LLC

  MEDICAL OFFICE BUILDING · WV

• DASCO-CAMC HOME MEDICAL EQUIPMENT LLC

  HOME MEDICAL EQUIPMENT · WV

• MGH SURGERY LLC

  SURGERY CENTER · WV

• MON HEALTH-DASCO HOME MEDICAL EQUIPMENT LLC

  HOME MEDICAL EQUIPMENT · OH

Related corporations and trusts

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

• VANDALIA INSURANCE COMPANY

  C · INSURANCE · VT · controlled entity

• MON HEALTH CARE INC

  C · MEDICAL EQUIPMENT · WV · controlled entity

• STONEWALL HOME OXYGEN THERAPY INC

  C · OXYGEN THERAPY SERVICES · WV · controlled entity

• FAIRMONT HOME EQUIPMENT AND SUPPLY

  C · EQUIPMENT RENT & SVC · WV · controlled entity

• MORGANTOWN PHYSICAL THERAPY ASSOC INC

  C · REHABILITATION SERVICES · WV · controlled entity

• CARE PARTNER'S INC

  C · HOME HEALTH · WV · controlled entity