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← CHA FOUNDATION

Form 990 for tax year 2022

Filed by CHA FOUNDATION.

Totals

Total revenue
$5,361,512
Total expenses
$234,253
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$5,370,867
Other revenue
-$9,355
Total assets, end of year
$224,187,578
Total liabilities, end of year
$19,901,357
Net assets or fund balances, end of year
$204,286,221
Program services expenses (Part IX)
$0
Management and general expenses
$234,253
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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.

  • 3 · Investment income

    total $4,579,035 · excluded $4,579,035

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $79,789,073

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

    securities $78,997,241

  • 7c · Gain or loss

    securities $791,832

  • 7d · Net gain or loss

    total $791,832 · excluded $791,832

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: EQUITY INVESTMENT ADJ

    total -$9,355 · excluded -$9,355

  • 11e · Other revenue, total

    -$9,355

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $2,400 · management and general $2,400

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $231,853 · management and general $231,853

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $180,130,241 · end of year $196,635,420

  • 12 · Investments: other securities

    beginning of year $28,722,147 · end of year $27,452,995

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $108,517 · end of year $99,163

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $24,901,357 · end of year $19,901,357

  • 27 · Net assets without donor restrictions

    beginning of year $183,464,908 · end of year $203,691,581

  • 28 · Net assets with donor restrictions

    beginning of year $594,640 · end of year $594,640

Mission and programs · 2022

Mission

CHA FOUNDATION ALLOCATES OPERATING SURPLUSES, INVESTMENT INCOME, AND OTHER RESOURCES AMONG CHESAPEAKE HOSPITAL AUTHORITY AND ITS TAX-EXEMPT SUBSIDIARIES FOR THE PURPOSE OF SUPPORTING AND EXPANDING HEALTH CARE.

Activities or mission (Part I)

SEE SCHEDULE O

  • N/A

As filed on the 2022 return.

Listed in Part VII

  • REESE JACKSON

    CEO & PRESIDENT

    Total calculated
    $859,153
    From this org
    $0
    From related orgs
    $810,353
    Other
    $48,800
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $765,019 related
    Bonus
    $0 + $33,334 related
    Other
    $0 + $12,000 related
    Deferred
    $0 + $48,800 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $859,153 related

  • STEVE MCDONNELL

    CFO

    Total calculated
    $539,378
    From this org
    $0
    From related orgs
    $490,578
    Other
    $48,800
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $463,911 related
    Bonus
    $0 + $26,667 related
    Other
    $0
    Deferred
    $0 + $48,800 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $539,378 related

  • ROBERT SCHNARRS MD

    Vice Chair

    Total calculated
    $3,000
    From this org
    $0
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    2 + 6 related

  • KRISTI A WOOTEN ESQ

    CHAIR

    Total calculated
    $2,750
    From this org
    $0
    From related orgs
    $2,750
    Other
    $0
    Hours/week
    2 + 6 related

  • ANGELA FEREBEE MD

    TREASURER

    Total calculated
    $2,750
    From this org
    $0
    From related orgs
    $2,750
    Other
    $0
    Hours/week
    2 + 6 related

  • BAXTER ENNIS

    SECRETARY

    Total calculated
    $2,500
    From this org
    $0
    From related orgs
    $2,500
    Other
    $0
    Hours/week
    2 + 6 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

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

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.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431369349318573

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