Skip to content
Nonprofiteer
← ADVENTHEALTH FOUNDATION INC

Form 990 for tax year 2022

Filed by ADVENTHEALTH FOUNDATION INC.

Totals

Total revenue
$30,168,335
Total expenses
$22,117,120
Contributions and grants received
$11,760,638
Grants paid
$19,537,291
Program services expenses (Part IX)
$19,537,291
Management and general expenses
$723,960
Fundraising expenses
$1,855,869
Program service expenses (Part III)
$19,537,291

Program services were 88.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Shaw Terry

    President/CEO

    Total calculated
    $5,678,983
    From this org
    $0
    From related orgs
    $4,723,276
    Other
    $955,707
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $2,220,503 related
    Bonus
    $0 + $879,735 related
    Other
    $0 + $1,623,038 related
    Deferred
    $0 + $895,900 related
    Nontaxable benefits
    $0 + $59,807 related
    Filer's total
    $0 + $5,678,983 related

  • Rathbun Paul

    Director/Chairman

    Total calculated
    $2,747,966
    From this org
    $0
    From related orgs
    $2,536,010
    Other
    $211,956
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,218,839 related
    Bonus
    $0 + $421,406 related
    Other
    $0 + $895,765 related
    Deferred
    $0 + $166,400 related
    Nontaxable benefits
    $0 + $45,556 related
    Filer's total
    $0 + $2,747,966 related

  • Goodman Todd

    Director

    Total calculated
    $2,027,198
    From this org
    $0
    From related orgs
    $1,822,857
    Other
    $204,341
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $860,712 related
    Bonus
    $0 + $218,316 related
    Other
    $0 + $743,829 related
    Deferred
    $0 + $145,900 related
    Nontaxable benefits
    $0 + $58,441 related
    Filer's total
    $0 + $2,027,198 related

  • Bromme Jeffrey

    Director

    Total calculated
    $1,555,637
    From this org
    $0
    From related orgs
    $1,361,834
    Other
    $193,803
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $858,616 related
    Bonus
    $0 + $271,601 related
    Other
    $0 + $231,617 related
    Deferred
    $0 + $153,708 related
    Nontaxable benefits
    $0 + $40,095 related
    Filer's total
    $0 + $1,555,637 related

  • Johnson Penny

    Director

    Total calculated
    $1,552,675
    From this org
    $0
    From related orgs
    $1,363,145
    Other
    $189,530
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $678,578 related
    Bonus
    $0 + $211,103 related
    Other
    $0 + $473,464 related
    Deferred
    $0 + $132,505 related
    Nontaxable benefits
    $0 + $57,025 related
    Filer's total
    $0 + $1,552,675 related

  • Bergherm Bruce

    Director

    Total calculated
    $1,459,929
    From this org
    $0
    From related orgs
    $1,410,394
    Other
    $49,535
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $673,281 related
    Bonus
    $0 + $174,998 related
    Other
    $0 + $562,115 related
    Deferred
    $0 + $16,400 related
    Nontaxable benefits
    $0 + $33,135 related
    Filer's total
    $0 + $1,459,929 related

  • Huenergardt Sam

    Director

    Total calculated
    $1,274,018
    From this org
    $0
    From related orgs
    $1,080,966
    Other
    $193,052
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $751,872 related
    Bonus
    $0 + $196,309 related
    Other
    $0 + $132,785 related
    Deferred
    $0 + $144,531 related
    Nontaxable benefits
    $0 + $48,521 related
    Filer's total
    $0 + $1,274,018 related

  • Hamilton MD Thomas Ted

    Director (Ended 12/2022)

    Total calculated
    $937,193
    From this org
    $0
    From related orgs
    $894,266
    Other
    $42,927
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $531,221 related
    Bonus
    $0 + $156,331 related
    Other
    $0 + $206,714 related
    Deferred
    $0 + $16,400 related
    Nontaxable benefits
    $0 + $26,527 related
    Filer's total
    $0 + $937,193 related

  • Johnson Joel Joe

    Director

    Total calculated
    $932,385
    From this org
    $0
    From related orgs
    $839,919
    Other
    $92,466
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $474,344 related
    Bonus
    $0 + $124,685 related
    Other
    $0 + $240,890 related
    Deferred
    $0 + $60,231 related
    Nontaxable benefits
    $0 + $32,235 related
    Filer's total
    $0 + $932,385 related

  • Noseworthy Gordon

    Director (Ended 10/2022)

    Total calculated
    $931,956
    From this org
    $0
    From related orgs
    $893,017
    Other
    $38,939
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $567,885 related
    Bonus
    $0 + $154,950 related
    Other
    $0 + $170,182 related
    Deferred
    $0 + $16,400 related
    Nontaxable benefits
    $0 + $22,539 related
    Filer's total
    $0 + $931,956 related

  • Smith-Edris Tricia

    Director

    Total calculated
    $865,113
    From this org
    $0
    From related orgs
    $741,700
    Other
    $123,413
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $521,006 related
    Bonus
    $0 + $127,000 related
    Other
    $0 + $93,694 related
    Deferred
    $0 + $72,515 related
    Nontaxable benefits
    $0 + $50,898 related
    Filer's total
    $0 + $865,113 related

  • Brady Amanda

    Director

    Total calculated
    $828,212
    From this org
    $0
    From related orgs
    $692,688
    Other
    $135,524
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $496,753 related
    Bonus
    $0 + $116,170 related
    Other
    $0 + $79,765 related
    Deferred
    $0 + $89,585 related
    Nontaxable benefits
    $0 + $45,939 related
    Filer's total
    $0 + $828,212 related

  • Houmann Lars

    Director

    Total calculated
    $695,984
    From this org
    $0
    From related orgs
    $682,872
    Other
    $13,112
    Hours/week
    0.1

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $682,872 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,112 related
    Filer's total
    $0 + $695,984 related

  • Collis David

    Dir/Pres-AH Fdn Central FL

    Total calculated
    $651,751
    From this org
    $0
    From related orgs
    $541,012
    Other
    $110,739
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0 + $412,675 related
    Bonus
    $0 + $73,336 related
    Other
    $0 + $55,001 related
    Deferred
    $0 + $59,008 related
    Nontaxable benefits
    $0 + $51,731 related
    Filer's total
    $0 + $651,751 related

  • Addiscott Lynn

    Director

    Total calculated
    $634,482
    From this org
    $0
    From related orgs
    $605,074
    Other
    $29,408
    Hours/week
    0.1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $374,865 related
    Bonus
    $0 + $92,393 related
    Other
    $0 + $137,816 related
    Deferred
    $0 + $16,400 related
    Nontaxable benefits
    $0 + $13,008 related
    Filer's total
    $0 + $634,482 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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
The individual who serves as the CEO of the filing organization is appointed and compensated by Adventist Health System Sunbelt Healthcare Corporation (AHSSHC). Compensation and benefits provided to this individual are determined pursuant to policies, procedures, and processes of AHSSHC that are designed to ensure compliance with the intermediate sanctions laws as set forth in IRC Section 4958. AHSSHC has taken steps to ensure that processes are in place to satisfy the rebuttable presumption of reasonableness standard as set forth in Treasury Regulation Section 53.4958-6 with respect to its active executive-level positions. The AHSSHC Board Compensation Committee (the Committee) serves as the governing body for all executive compensation matters. The Committee is composed of certain members of the Board of Directors (the Board) of AHSSHC. Voting members of the Committee include only individuals who serve on the Board as independent representatives, who hold no employment positions with AHSSHC and who do not have relationships with any of the individuals whose compensation is under their review that impacts their best independent judgment as fiduciaries of AHSSHC. The Committee's role is to review and approve all components of the executive compensation plan of AHSSHC. As an independent governing body with respect to executive compensation, it should be noted that the Committee will often confer in executive sessions on matters of compensation policy and policy changes. In such executive sessions, no members of management of AHSSHC are present, other than the Chief People Officer, who remains at the request of the Chairman/committee to provide assistance/information as needed. The Committee is advised by an independent third-party compensation advisor. This advisor prepares all the benchmark studies for the Committee. Compensation levels are benchmarked with a national peer group of other not-for-profit healthcare systems and hospitals of similar size and complexity to AdventHealth and each of its affiliated entities. The following principles guide the establishment of individual executive compensation: - The salary of the President/CEO of AdventHealth will not exceed the 50th percentile of comparable salaries paid by similarly situated organizations; and - Other executive salaries shall be established using market medians. The compensation philosophy, policies, and practices of AHSSHC are consistent with the organization's faith-based mission and conform to applicable laws, regulations, and business practices. As a faith-based organization sponsored by the Seventh-day Adventist Church (the Church), AHSSHC's philosophy and principles with respect to its executive compensation practices reflect the conservative approach of the Church's mission of service and were developed in counsel with the Church's leadership.
Part I, Lines 4a-b
Schedule J, Part I, Line 4a: During the year ending December 31, 2022, Lars Houmann received severance payments in the amount of $661,887. Pursuant to the AHSSHC Corporate Executive Policy governing executive severance, severance agreements for executives operating at the Vice President level and above are entered into upon eligibility to facilitate the transition to subsequent employment following an involuntary separation from employment with AdventHealth. Schedule J, Part I, Line 4b: Executives serving on the filing organization's Board of Directors are compensated by and on the payroll of Adventist Health System Sunbelt Healthcare Corporation (AHSSHC), the parent organization of the healthcare system known as AdventHealth. In recognition of the contribution that each executive makes to the success of AdventHealth, AdventHealth provides supplemental executive retirement benefit plans to eligible executives. As the supplemental executive retirement benefit plans were updated in 2020 and certain individuals still participate as grand-fathered participants in certain plans, the narrative below discusses all plans in which there were any participants in 2022. The SERP III plan effectively replaces the prior SERP II plan, the Executive Flex Benefit Program Plan, and the Senior Executive Death Benefit Plan for qualified executives except for certain grandfathered executive employees. SERP III Plan: The SERP III plan provides eligible executives a percentage of their base pay, which is credited to a deferred compensation account. The plan also provides for compensation deferral and selection of life insurance coverage and long-term care insurance. To be eligible to participate in the SERP III plan, executives must be on the AHSSHC corporate payroll and be either a CEO of an AdventHealth entity, an AHSSHC Vice President (VP) or VP of an AdventHealth entity with a base salary of at least $305,000 in 2022 (adjusted annually by the same percentage as IRC Section 401(a)(17) limit increases), or other leader specifically approved by the AdventHealth President. Eligible executives do not include grandfathered executives, meaning those executives who would satisfy all the eligibility requirements of the SERP II plan prior to Dec 31, 2027, had the plan not been amended and restated as of Jan. 1, 2020. Contribution credits will be established and maintained by class year accounts for each participant using tiered contribution credit percentages of annual base compensation. Contribution credit percentages range between 15% and 19% of base compensation. Contribution credits will be made each quarter in 25% increments with reductions in contributions if the executive is also a grandfathered FLEX participant (see below). SERP III provides for a class year vesting and payment schedule (7 years for each class year) with respect to amounts accumulated in the executive's deferred compensation account. Upon attainment of a normal retirement age (age 62), or upon certain other circumstances as defined in the SERP III plan document, all deferred amounts are paid immediately to the participant. For any executives working beyond the normal retirement age, future employer contributions will be made quarterly from SERP III directly to the participant as a taxable cash bonus. SERP II Plan: The SERP II plan is a defined benefit, non-tax-qualified deferred compensation plan for certain executives who have provided lengthy service to AdventHealth and/or to other Seventh-day Adventist Church hospitals or health care institutions. Under the provisions of the SERP II plan, benefits are provided to qualifying executive participants on a pro-rata schedule beginning with 20 years of service as an employee of AdventHealth and/or another hospital or health care institution controlled by the Seventh-day Adventist Church and who satisfy certain other qualifying criteria. Eligible employees are restricted to those executives who, as of January 1, 2020, satisfied, or if employment continues, will satisfy the eligibility requirements of SERP II prior to December 31, 2027. This supplemental executive retirement plan (SERP II) was designed to provide eligible executives with the economic equivalent of an annual income beginning at normal retirement age equal to 60% of the average of the participant's three, five or seven highest years of base salary from AdventHealth active employment inclusive of income from all other Seventh-day Adventist Church healthcare employer-financed retirement income sources and investment income earned on those contributions through social security normal retirement age as defined in the plan. The number of years included in highest average compensation is determined by the individual's year of entry to SERP II and by the individual's year of entry to the AdventHealth Executive FLEX Benefit Program. FLEX Plan: The Flex Plan was originally designed to provide eligible executives an opportunity to select from among a variety of supplemental benefits, including a split dollar life insurance policy and long-term care insurance, to individually tailor a benefits program appropriate to each executive's needs. In 2020, the Flex Plan was amended to exclude employed executives who are hired or promoted after a certain date from being eligible to participate in the Flex Plan except for certain insurance coverage features of the plan. The Flex Plan provides eligible participants a pre-determined benefits allowance credit that is equal to a percentage of the executive's base pay from which the cost of mandatory and elective employee benefits is deducted. The benefits allowance credit percentage for any plan year shall not be greater than the maximum dollar amount or the percentage of compensation as determined by the AdventHealth Benefits Administration Committee. For grandfathered eligible employees, the annual pre-determined Flex allowance is contributed and any funds that remain after the cost of mandatory and elective benefits are subtracted are, at the employee's option, contributed to either an IRC 457(f) deferred compensation account or to an IRC 457(b) eligible deferred compensation plan. Upon attainment of age 65, all previous 457(f) deferred amounts are paid immediately to the participant and any future employer contributions are made quarterly from the Plan directly to the participant. The Plan provides for a class year vesting schedule (2 years for each class year) with respect to amounts accumulated in the executive's 457(f) deferred compensation account. Distributions could also be made from the executive's 457(f) deferred compensation account upon attainment of age 65 or upon an involuntary separation. The account will be forfeited by the executive upon a voluntary separation. With respect to grandfathered participants, the Flex Plan documents define eligible employees to include the Chief Executive Officers of AdventHealth entities and Vice Presidents of all AdventHealth entities whose base salary was at least equal to the Internal Revenue Code Section 401(a)(17) compensation limit each year.
Schedule J, Part I, Line 4b (continued):
FLEX Plan FLEX Plan SERP II SERP III Contr. Distr.* Contr/Distr. Contr. SHAW, TERRY $ 150,000 $ 130,205 $1,369,868 $ 0 RATHBUN, PAUL $ 150,000 $ 197,530 $ 607,786 $ 0 GOODMAN, TODD $ 150,000 $ 157,963 $ 532,684 $ 0 BROMME, JEFFREY $ 150,000 $ 144,099 $ 0 $ 15,683 JOHNSON, PENNY $ 116,105 $ 124,303 $ 324,828 $ 0 BERGHERM, BRUCE $ 103,125 $ 82,625 $ 386,102 $ 0 HUENERGARDT, SAM $ 128,131 $ 115,142 $ 0 $ 0 HAMILTON MD, TED $ 88,023 $ 67,523 $ 0 $ 0 JOHNSON, JOEL $ 64,331 $ 50,760 $ 130,298 $ 0 NOSEWORTHY, GORDON $ 70,508 $ 70,508 $ 35,929 $ 0 SMITH-EDRIS, TRICIA $ 76,615 $ 42,514 $ 0 $ 0 BRADY, AMANDA $ 66,338 $ 62,299 $ 0 $ 6,847 COLLIS, DAVID $ 49,605 $ 11,354 $ 0 $ 13,502 ADDISCOTT, LYNN $ 58,256 $ 58,256 $ 20,179 $ 0 * Including Investment Earnings

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
2022
Filed
2 February 2024
IRS schema version
2022v5.0
Source object
202420449349301402

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

The source document this was parsed from is served over the API, which is where bulk and document access live.