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Nonprofiteer
← ANDROSCOGGIN VALLEY HOSPITAL FOUNDATION

Form 990 for tax year 2024

Filed by ANDROSCOGGIN VALLEY HOSPITAL FOUNDATION.

Totals

Total revenue
$880,338
Total expenses
$79,825
Contributions and grants received
$10,000
Grants paid
$59,000
Program service revenue
$0
Investment income
$870,338
Other revenue
$0
Total assets, end of year
$3,776,129
Total liabilities, end of year
$182,761
Net assets or fund balances, end of year
$3,593,368
Program services expenses (Part IX)
$69,280
Management and general expenses
$10,545
Fundraising expenses
$0
Program service expenses (Part III)
$69,280

Program services were 86.8% 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.

  • 1f · All other contributions, gifts and grants

    $10,000

  • 3 · Investment income

    total $136,293 · excluded $136,293

  • 7a · Gross sales of assets other than inventory

    securities $734,045

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

    securities $0

  • 7c · Gain or loss

    securities $734,045

  • 7d · Net gain or loss

    total $734,045 · excluded $734,045

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000 · program services $40,000

  • 2 · Grants to domestic individuals

    total $19,000 · program services $19,000

  • 11f · Fees: investment management

    total $10,545 · management and general $10,545

  • 24a · Other expenses: PROGRAM EXPENSES

    total $10,280 · program services $10,280

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $31,477 · end of year $92,175

  • 11 · Investments: publicly traded securities

    beginning of year $3,625,856 · end of year $3,683,954

  • 17 · Accounts payable and accrued expenses

    beginning of year $90,011 · end of year $105,011

  • 25 · Other liabilities

    beginning of year $33,470 · end of year $77,750

  • 27 · Net assets without donor restrictions

    beginning of year $3,490,090 · end of year $3,549,606

  • 28 · Net assets with donor restrictions

    beginning of year $43,762 · end of year $43,762

Mission and programs · 2024

Mission

TO SUPPORT THE CHARITABLE MISSION OF ANDROSCOGGIN VALLEY HOSPITAL, PRIMARILY THROUGH FUNDRAISING AND INVESTMENT MANAGEMENT.

Activities or mission (Part I)

TO PROVIDE ASSET MANAGEMENT AND FINANCIAL SUPPORT TO ANDROSCOGGIN VALLEY HOSPITAL.

  • PROVIDE ASSET MANAGEMENT AND FINANCIAL SUPPORT TO ANDROSCOGGIN VALLEY HOSPITAL.

    Expenses $69,280 · Grants $59,000

As filed on the 2024 return.

Listed in Part VII

  • MICHAEL PETERSON

    PRESIDENT

    Total calculated
    $457,884
    From this org
    $0
    From related orgs
    $417,698
    Other
    $40,186
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $342,954 related
    Bonus
    $0 + $73,113 related
    Other
    $0 + $1,631 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $40,186 related
    Filer's total
    $0 + $457,884 related

  • BRIAN O'HEARN

    DIRECTOR (TERM 12/24)

    Total calculated
    $325,986
    From this org
    $0
    From related orgs
    $290,104
    Other
    $35,882
    Hours/week
    0.5 + 40.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,889 related
    Bonus
    $0 + $27,032 related
    Other
    $0 + $115,183 related
    Deferred
    $0 + $4,807 related
    Nontaxable benefits
    $0 + $31,075 related
    Filer's total
    $0 + $325,986 related

  • MARK KELLEY

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • PAMELA LAFLAMME

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • THOMAS MCCUE

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5 + 1.5 related

  • THOMAS MEE

    SYSTEM CEO

    Total calculated
    $914,058
    From this org
    $0
    From related orgs
    $868,962
    Other
    $45,096
    Hours/week
    0.5 + 45.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $634,794 related
    Bonus
    $0 + $219,715 related
    Other
    $0 + $14,453 related
    Deferred
    $0 + $6,032 related
    Nontaxable benefits
    $0 + $39,064 related
    Filer's total
    $0 + $914,058 related

  • MATTHEW STREETER

    SYSTEM CFO/INTERIM CEO WMC

    Total calculated
    $475,130
    From this org
    $0
    From related orgs
    $433,138
    Other
    $41,992
    Hours/week
    0.5 + 45.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,286 related
    Bonus
    $0 + $84,876 related
    Other
    $0 + $976 related
    Deferred
    $0 + $10,166 related
    Nontaxable benefits
    $0 + $31,826 related
    Filer's total
    $0 + $475,130 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
  • 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
NORTH COUNTRY HEALTHCARE, A RELATED ORGANIZATION, USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION FOR THE TOP MANAGEMENT OFFICIAL OF THE FILING ORGANIZATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - WRITTEN EMPLOYMENT CONTRACT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 4B
THOMAS MEE, SYSTEM CEO, PARTICIPATED IN A 457(F) PLAN ADMINISTERED BY NORTH COUNTRY HEALTHCARE, A RELATED ORGANIZATION. THERE WERE NO CONTRIBUTIONS OR DISTRIBUTIONS IN 2023.

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

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
2024
IRS schema version
2024v5.5
Source object
202612299349302491

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