Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,494,311

• 2a · Program service revenue: PATIENT SERVICE REVENUE

  total $35,791,546 · related or exempt $35,791,546

• 2f · All other program service revenue

  total $450 · related or exempt $450

• 3 · Investment income

  total $980,197 · excluded $980,197

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

  other assets $56,139

• 7c · Gain or loss

  other assets -$56,139

• 7d · Net gain or loss

  total -$56,139 · excluded -$56,139

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $853,999 · program services $768,601 · management and general $42,699 · fundraising $42,699

• 7 · Other salaries and wages

  total $19,799,877 · program services $14,606,049 · management and general $5,108,022 · fundraising $85,806

• 8 · Pension plan contributions

  total $284,249 · management and general $284,249

• 9 · Other employee benefits

  total $2,661,938 · program services $2,659,555 · fundraising $2,383

• 10 · Payroll taxes

  total $1,206,861 · program services $1,130,932 · management and general $75,929

• 11a · Fees: management

  total $2,215,618 · management and general $2,203,430 · fundraising $12,188

• 11b · Fees: legal

  total $97,848 · program services $9,340 · management and general $88,508

• 11c · Fees: accounting

  total $65,440 · management and general $65,440

• 11d · Fees: lobbying

  total $373 · management and general $373

• 11f · Fees: investment management

  total $24,018 · management and general $24,018

• 11g · Fees: other

  total $482,913 · program services $393,357 · management and general $85,584 · fundraising $3,972

• 12 · Advertising and promotion

  total $195,212 · program services $190,401 · management and general $4,811

• 13 · Office expenses

  total $231,982 · program services $43,570 · management and general $163,740 · fundraising $24,672

• 14 · Information technology

  total $132,122 · program services $4,856 · management and general $98,534 · fundraising $28,732

• 16 · Occupancy

  total $767,207 · program services $531,887 · management and general $233,230 · fundraising $2,090

• 17 · Travel

  total $60,336 · program services $42,028 · management and general $18,255 · fundraising $53

• 19 · Conferences, conventions and meetings

  total $13,933 · program services $8,439 · management and general $3,883 · fundraising $1,611

• 20 · Interest

  total $235,058 · management and general $235,058

• 22 · Depreciation, depletion and amortization

  total $1,119,599 · program services $424,957 · management and general $682,916 · fundraising $11,726

• 23 · Insurance

  total $4,451 · management and general $4,451

• 24a · Other expenses: DIRECT PATIENT EXPENSES

  total $5,554,724 · program services $5,526,687 · fundraising $28,037

• 24b · Other expenses: BAD DEBT EXPENSE

  total $1,085,935 · program services $1,085,935

• 24c · Other expenses: DUES & SUBSCRIPTIONS

  total $116,686 · program services $57,299 · management and general $59,217 · fundraising $170

• 24d · Other expenses: CONTINUING EDUCATION

  total $77,215 · program services $24,339 · management and general $52,876

• 24e · All other expenses

  total $288,499 · program services $64,381 · management and general $213,242 · fundraising $10,876

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $13,791,417 · end of year $7,255,394

• 3 · Pledges and grants receivable

  beginning of year $10,731 · end of year $250,250

• 4 · Accounts receivable

  beginning of year $5,691,759 · end of year $4,743,958

• 9 · Prepaid expenses and deferred charges

  beginning of year $60,980 · end of year $64,861

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

  $38,517,189

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

  $14,905,702

• 10c · Land, buildings and equipment, net

  beginning of year $20,889,442 · end of year $23,611,487

• 11 · Investments: publicly traded securities

  beginning of year $27,260,732 · end of year $31,307,124

• 15 · Other assets

  beginning of year $2,195,013 · end of year $6,400,922

• 17 · Accounts payable and accrued expenses

  beginning of year $3,414,581 · end of year $3,393,201

• 20 · Tax-exempt bond liabilities

  beginning of year $6,751,935 · end of year $6,578,412

• 25 · Other liabilities

  beginning of year $1,958,819 · end of year $1,982,207

• 27 · Net assets without donor restrictions

  beginning of year $49,944,652 · end of year $52,567,903

• 28 · Net assets with donor restrictions

  beginning of year $7,830,087 · end of year $9,112,273

The filer's explanations (Part III)

PART I, LINE 3

FOR COMPENSATION PAID TO OFFICERS FROM A RELATED TAX-EXEMPT ENTITY, THE ORGANIZATION RELIED ON THE RELATED ORGANIZATION THAT USED ONE OR MORE OF THESE METHODS TO ESTABLISH THE COMPENSATION OF THOSE OFFICERS.

PART I, LINE 4B

CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION, ESTABLISHED A SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN FOR THE EXCLUSIVE BENEFIT OF CERTAIN EXECUTIVES. FUNDS ARE SUBJECT TO RISK OF FORFEITURE BY PLAN PARTICIPANTS AND ARE AVAILABLE TO THE CREDITORS OF CARE SYNERGY. IN ACCORDANCE WITH THE BOARD OF DIRECTORS' INTENT, CARE SYNERGY WILL FUND INDIVIDUAL PARTICIPANT ACCOUNTS THROUGH INVESTMENT OPTIONS DIRECTED BY THE PARTICIPANTS. THE DEFERRED COMPENSATION PLAN IS PARTIALLY FUNDED, AND CARE SYNERGY REPORTS THE DEFERRALS AND RELATED FUNDING IN ACCRUED EXPENSES AND INVESTMENTS, RESPECTIVELY, IN THE BALANCE SHEET. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2024, FOR WHICH THE EXPENSE WAS INCURRED BY THE SPONSORING ORGANIZATIONS, BUT THE FUNDS HAVE NOT VESTED OR BEEN PAID OUT TO THESE INDIVIDUALS. THE AMOUNTS LISTED BELOW ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (C): TIM BOWEN (CARE SYNERGY CEO): $183,278.47 PAUL TOSETTI (CARE SYNERGY CFO): $28,567.20 (TERM 06/15/2024) BRAD ALLEY (CARE SYNERGY CFO): $22,125.00 (START 05/20/2024) EVERTH LOPEZ (TDH & VNA PRESIDENT): $46,164.81 DURING CALENDAR YEAR 2024 TIMOTHY BOWEN AND PAUL TOSETTI RECEIVED A PAYMENT OF $549,310 AND $76,999 RESPECTIVELY, FROM THE 457(F) PLAN. THE PAYMENT IS INCLUDED IN THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 7

THE ORGANIZATION AND THE COMPENSATION COMMITTEE OF CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION, ANNUALLY REVIEWS THE PERFORMANCES OF THE EXECUTIVE STAFF AND OTHER STAFF TO DETERMINE IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES WILL BE PAID. THE DETERMINATION OF BONUSES IS BASED ON ACHIEVEMENT OF CERTAIN METRICS INCLUDED IN OVERALL STRATEGIC OBJECTIVES INCLUDING FINANCIAL PERFORMANCE, PATIENT CENSUS GROWTH, AND QUALITY RATINGS. INCENTIVE COMPENSATION IS ALSO PAID FOR VARIOUS FORMS OF VARIABLE PAY INCLUDING BUT NOT LIMITED TO ON CALL PAY AND SHIFT DIFFERENTIALS. DURING CALENDAR YEAR ENDED DECEMBER 31, 2024, THE ORGANIZATION AND/OR CARE SYNERGY AWARDED THE CEO, CHIEF FINANCIAL OFFICER, PRESIDENT, CHIEF MEDICAL OFFICER, VP OF PHILANTHROPY AND DIRECTOR OF CLINICAL SERVICES A BONUS AND/OR OTHER VARIABLE COMPENSATION BASED ON REVIEW OF THEIR PERFORMANCES AND SERVICES TO THE ORGANIZATION

SCHEDULE J, PART II:

THE COMPENSATION PAID TO THE DIRECTOR/CEO AND CHIEF FINANCIAL OFFICER IS PAID FOR BY CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION. CARE SYNERGY'S COMPENSATION COMMITTEE ENGAGES AN INDEPENDENT THIRD-PARTY COMPENSATION AND BENEFITS CONSULTANT TO CONDUCT A MARKET ANALYSIS, WHICH INCLUDES COMPARISONS OF SIMILARLY SIZED HOSPICES AND OTHER HEALTHCARE ORGANIZATIONS, TO DETERMINE COMPENSATION AMOUNTS FOR THESE INDIVIDUALS.

SCHEDULE J, PART II:

THE COMPENSATION PAID TO THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL OFFICER IS PAID FOR BY CARE SYNERGY, A RELATED TAX-EXEMPT ORGANIZATION. IN ADDITION TO PROVIDING SERVICES TO HOSPICE OF METRO DENVER, INC., TOP MANAGEMENT OFFICIALS LISTED ABOVE ALSO PROVIDE SERVICES IN THEIR RESPECTIVE POSITIONS TO OTHER RELATED TAX-EXEMPT ORGANIZATIONS. THE AMOUNTS REPORTED ON FORM 990, PART VII, SECTION A REPRESENT COMPENSATION AND BENEFITS PAID TO THESE INDIVIDUALS FOR THEIR SERVICES TO THE FILING ORGANIZATION AS WELL AS OTHER TAX-EXEMPT ORGANIZATIONS.