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Nonprofiteer
← ST VINCENTS DEVELOPMENT INC

Form 990 for tax year 2023

Filed by ST VINCENTS DEVELOPMENT INC.

Totals

Total revenue
$2,771,627
Total expenses
$3,598,288
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,741,472
Investment income
$0
Other revenue
$30,155
Total assets, end of year
$25,557,336
Total liabilities, end of year
$2,879,300
Net assets or fund balances, end of year
$22,678,036
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $2,741,472 · related or exempt $2,741,472

  • 11a · Other revenue: Miscellaneous Revenue

    total $30,155 · excluded $30,155

  • 11e · Other revenue, total

    $30,155

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $203,307

  • 13 · Office expenses

    total $84,377

  • 14 · Information technology

    total $159,189

  • 16 · Occupancy

    total $1,198,402

  • 21 · Payments to affiliates

    total $72,238

  • 22 · Depreciation, depletion and amortization

    total $1,327,230

  • 24a · Other expenses: Repairs and Maintenance

    total $432,360

  • 24b · Other expenses: Purchased Services

    total $116,584

  • 24c · Other expenses: Miscellaneous Expense

    total $3,881

  • 24d · Other expenses: Dues and Memberships

    total $720

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300,180 · end of year $300,180

  • 4 · Accounts receivable

    beginning of year $103,991 · end of year $157,010

  • 9 · Prepaid expenses and deferred charges

    end of year $8,517

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

    $27,280,165

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

    $5,368,596

  • 10c · Land, buildings and equipment, net

    beginning of year $23,189,063 · end of year $21,911,569

  • 15 · Other assets

    beginning of year $2,957,697 · end of year $3,180,060

  • 17 · Accounts payable and accrued expenses

    beginning of year $502,649 · end of year $676,033

  • 25 · Other liabilities

    beginning of year $2,576,720 · end of year $2,203,267

  • 27 · Net assets without donor restrictions

    beginning of year $23,471,562 · end of year $22,678,036

Mission and programs · 2023

Mission

None

Activities or mission (Part I)

Manage buildings and provide facilities for St. Vincent's Health Services Corp and affiliates.

  • Rental income from managing buildings for and providing facilities to St. Vincent's Health Services Corp and its affiliates.

As filed on the 2023 return.

Listed in Part VII

  • Chibueze Agba

    Director

    Total calculated
    $1,934,908
    From this org
    $0
    From related orgs
    $1,699,330
    Other
    $235,578
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,078,863 related
    Bonus
    $0 + $603,043 related
    Other
    $0 + $17,424 related
    Deferred
    $0 + $183,155 related
    Nontaxable benefits
    $0 + $52,423 related
    Filer's total
    $0 + $1,934,908 related

  • Michael Daglio

    Director (Thru 04/2024)

    Total calculated
    $1,488,416
    From this org
    $0
    From related orgs
    $1,299,825
    Other
    $188,591
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $814,076 related
    Bonus
    $0 + $479,677 related
    Other
    $0 + $6,072 related
    Deferred
    $0 + $148,374 related
    Nontaxable benefits
    $0 + $40,217 related
    Filer's total
    $0 + $1,488,416 related

  • Thomas Vaccarelli

    Director & Secretary

    Total calculated
    $567,155
    From this org
    $0
    From related orgs
    $511,249
    Other
    $55,906
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $354,147 related
    Bonus
    $0 + $149,063 related
    Other
    $0 + $8,039 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $32,806 related
    Filer's total
    $0 + $567,155 related

  • Carol Wardell

    Director & Treasurer

    Total calculated
    $488,567
    From this org
    $0
    From related orgs
    $422,645
    Other
    $65,922
    Hours/week
    2 + 58 related

    Schedule J breakdown matched by us

    Base
    $0 + $311,966 related
    Bonus
    $0 + $106,299 related
    Other
    $0 + $4,380 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $42,822 related
    Filer's total
    $0 + $488,567 related

  • Fred Sorbo III

    Former Dir & Treas (Thru 5/22)

    Total calculated
    $100,916
    From this org
    $0
    From related orgs
    $97,077
    Other
    $3,839
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $91,385 related
    Bonus
    $0 + $5,286 related
    Other
    $0 + $406 related
    Deferred
    $0 + $3,662 related
    Nontaxable benefits
    $0 + $177 related
    Filer's total
    $0 + $100,916 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 3
The Independent Executive Compensation Committee (Committee) of the Board of Directors of Hartford HealthCare on behalf of St. Vincent's Development, Inc. hires an outside consultant, Human Resources and Compensation Consulting Practice of Gallagher, to determine best practices in governing executive compensation. Please refer to compensation narrative reported on Schedule O.
Part I, Line 4b
Hartford Healthcare Corporation, a related organization, maintains a 457(f) Supplemental Executive Retirement Plan (SERP). Participants include certain officers and key employees at the President & CEO, Executive Vice President and Senior Vice President levels that are reported by St. Vincent's Development, Inc. on its Form 990, Part VII. Contributions are made by Hartford HealthCare Corporation to the plan based on a percentage of the participant's compensation. Participants vest in the plan at the earlier of reaching age 55 and having 5 years of service, death, disability, involuntary separation without reasonable cause, upon reaching age 65 or the occurrence of a change in control. Each participant ceases to be eligible for further contributions by Hartford Healthcare Corporation on the date of the participant's separation from service. Participants receive a one-time lump sum payment of the accumulated amount during the 30-day period following the participant's separation from service. 2023 SERP Accruals were made on behalf of the following individuals: Chibueze Agba $160,055 Michael Daglio $125,274
Part I, Line 7
Hartford HealthCare Corporation, a related organization, has a Compensation At Risk Plan that encourages and rewards achievements of significant functional goals. These goals contribute to the organization's strategic and financial direction. The plan utilizes market practice alignment to ensure competitive recruitment and retention. Awards are based on CEO and/or Hartford HealthCare Corporation's Compensation Committee discretionary assessment of overall organization performance and individual contribution to results.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 2660 Main LLC

    Real Estate · CT · income $0 · assets $0

    Directly controlled by St Vincent's Development Inc

  • 2900 Main Street LLC

    Real Estate · CT · income $0 · assets $0

    Directly controlled by St Vincent's Development Inc

  • Residential Holdings LLC

    Real Estate · CT · income $0 · assets $0

    Directly controlled by St Vincent's Development Inc

Related partnerships

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

  • Advanced Medical Imaging of NW CT LLC

    Magnetic Resonance Imaging · CT

  • Ambulance Service of Manchester LLC

    Ambulatory Service · CT

  • Central Connecticut Endoscopy Center

    Endoscopy Svcs · CT

  • Connecticut Imaging Partners LLC

    Imaging Services · CT

  • Connecticut Orthopaedic Surgery Center LLC

    Surgery Svcs · CT

  • Connecticut Proton Therapy Center LLC

    Proton Therapy Services · CT

  • Constitution Surgery Center East LLC

    Surgery Svcs · CT

  • CT GI Endoscopy Center LLC ( Bloomfield)

    GI Services · CT

  • Glastonbury Endoscopy Center LLC

    Endoscopy Svcs · CT

  • Glastonbury Surgery Center LLC

    Surgery Svcs · CT

  • Hartford-Middlesex Clinical System LLC

    Affiliate Support Services · CT

  • HHC Hartford Surgery Center LLC

    Surgery Svcs · CT

  • HHC Southington Surgery Center LLC

    Surgery Svcs · CT

  • Hartford HealthCare-GoHealth Urgent Care LLC

    Urgent Care Services · DE

  • New Britain MRI Limited Partnership

    Magnetic resonance imaging · CT

  • Rocky Hill Surgery Center LLC

    Surgery Svcs · CT

  • The Endoscopy Center of Northwest Connecticut LLC

    Endoscopy Svcs · CT

  • Wallingford Endoscopy Center LLC

    Endoscopy Svcs · CT

Related corporations and trusts

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

  • Aetna Ambulance Service Inc

    C · Ambulance Services · CT · controlled entity

  • American Ambulance Services Inc

    S · Ambulance Services · CT · controlled entity

  • American Professional Educational Services Inc

    S · Educational Services · CT · controlled entity

  • Backus Medical Center Condo Assoc Inc

    C · Condo Association · CT · controlled entity

  • CenConn Services Inc

    C · Billing Services · CT · controlled entity

  • ConnCare Inc

    C · Health Care Services · CT · controlled entity

  • HHMOB Corporation

    C · Real Estate & Parking · CT · controlled entity

  • Hartford HealthCare Indemnity Services Ltd

    C · Captive Insurance · BD · controlled entity

  • Hunter's Ambulance Service Inc

    S · Ambulance Services · CT · controlled entity

  • Meriden Imaging Center Inc

    S · Imaging · CT · controlled entity

  • Metro Wheelchair Service Inc

    C · Wheelchair Services · CT · controlled entity

  • The Cancer Care Fund Of The Litchfield Hills Inc

    C · Cancer Care Fund · CT · controlled entity

  • Windham Professional Office Condo Assoc

    C · Condo Association · CT · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
13 August 2025
IRS schema version
2023v6.0
Source object
202532259349300618

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