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← CATHOLIC HEALTHCARE TRUST

Form 990 for tax year 2024

Filed by CATHOLIC HEALTHCARE TRUST.

Totals

Total revenue
$176,899,468
Total expenses
$208,212,243
Contributions and grants received
$3,453,437
Grants paid
$40,000,254
Program service revenue
$162,418,331
Investment income
$9,556,707
Other revenue
$1,470,993
Total assets, end of year
$120,595,601
Total liabilities, end of year
$71,457,286
Net assets or fund balances, end of year
$49,138,315
Program services expenses (Part IX)
$180,745,348
Management and general expenses
$27,444,251
Fundraising expenses
$22,644
Program service expenses (Part III)
$180,745,348

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.

  • 1c · Fundraising events

    $45,702

  • 1e · Government grants (contributions)

    $3,327,781

  • 1f · All other contributions, gifts and grants

    $79,954

  • 2a · Program service revenue: Patient services

    total $146,850,720 · related or exempt $146,850,720

  • 2b · Program service revenue: Disproportionate Share Funding

    total $14,283,902 · related or exempt $14,283,902

  • 2c · Program service revenue: Lab clients

    total $650,881 · related or exempt $650,881

  • 2d · Program service revenue: Cafeteria and dining

    total $529,982 · related or exempt $529,982

  • 2e · Program service revenue: Program-related rents

    total $102,846 · related or exempt $102,846

  • 3 · Investment income

    total $3,097,918 · unrelated business $6,224 · excluded $3,091,694

  • 7a · Gross sales of assets other than inventory

    securities $27,453,660 · other assets $109,840,315

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

    securities $26,344,681 · other assets $104,490,505

  • 7c · Gain or loss

    securities $1,108,979 · other assets $5,349,810

  • 7d · Net gain or loss

    total $6,458,789 · excluded $6,458,789

  • 8a · Fundraising events: gross income

    $48,000

  • 8a · Fundraising events: contributions included on line 1c

    $45,702

  • 8b · Fundraising events: direct expenses

    $78,820

  • 8c · Net income from fundraising events

    total -$30,820 · excluded -$30,820

  • 11a · Other revenue: Debt extinguishment

    total $1,501,813 · excluded $1,501,813

  • 11e · Other revenue, total

    $1,501,813

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000,254 · program services $40,000,254

  • 5 · Compensation of officers, directors and key employees

    total $2,051,984 · program services $1,744,186 · management and general $307,798

  • 7 · Other salaries and wages

    total $65,644,929 · program services $55,798,190 · management and general $9,846,739

  • 8 · Pension plan contributions

    total $1,449,720 · program services $1,232,262 · management and general $217,458

  • 9 · Other employee benefits

    total $9,294,691 · program services $7,900,487 · management and general $1,394,204

  • 10 · Payroll taxes

    total $4,088,704 · program services $3,475,398 · management and general $613,306

  • 11b · Fees: legal

    total $161,369 · management and general $161,369

  • 11c · Fees: accounting

    total $63,647 · management and general $63,647

  • 11d · Fees: lobbying

    total $20,500 · management and general $20,500

  • 11f · Fees: investment management

    total $150,555 · management and general $150,555

  • 11g · Fees: other

    total $3,899,498 · program services $3,116,998 · management and general $779,250 · fundraising $3,250

  • 12 · Advertising and promotion

    total $654,066 · program services $523,253 · management and general $130,813

  • 13 · Office expenses

    total $2,830,892 · program services $2,255,874 · management and general $563,969 · fundraising $11,049

  • 14 · Information technology

    total $3,282,779 · program services $2,626,223 · management and general $656,556

  • 16 · Occupancy

    total $6,235,873 · program services $4,988,698 · management and general $1,247,175

  • 17 · Travel

    total $118,441 · program services $94,753 · management and general $23,688

  • 19 · Conferences, conventions and meetings

    total $63,126 · program services $46,397 · management and general $11,599 · fundraising $5,130

  • 20 · Interest

    total $2,368,337 · program services $1,870,986 · management and general $497,351

  • 22 · Depreciation, depletion and amortization

    total $4,344,020 · program services $2,476,091 · management and general $1,867,929

  • 23 · Insurance

    total $1,304,224 · program services $1,043,379 · management and general $260,845

  • 24a · Other expenses: Medical supplies

    total $30,112,253 · program services $29,641,077 · management and general $471,176

  • 24b · Other expenses: NH Medicaid Tax

    total $12,900,085 · program services $12,900,085

  • 24c · Other expenses: Provision for bad debt

    total $6,128,556 · program services $6,128,556

  • 24d · Other expenses: Physician fees

    total $3,167,103 · program services $2,556,248 · management and general $610,855

  • 24e · All other expenses

    total $7,876,637 · program services $325,953 · management and general $7,547,469 · fundraising $3,215

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,106,404 · end of year $39,536,932

  • 2 · Savings and temporary cash investments

    beginning of year $51,364,203 · end of year $22,145,672

  • 3 · Pledges and grants receivable

    beginning of year $1,294,964 · end of year $0

  • 4 · Accounts receivable

    beginning of year $64,390,098 · end of year $7,996,950

  • 8 · Inventories for sale or use

    beginning of year $2,037,818

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,972,672

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $117,679,209

  • 11 · Investments: publicly traded securities

    beginning of year $93,790,563 · end of year $14,167,822

  • 14 · Intangible assets

    beginning of year $33,464,223 · end of year $8,283,546

  • 15 · Other assets

    beginning of year $8,269,632 · end of year $28,464,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,109,680 · end of year $23,703,844

  • 19 · Deferred revenue

    beginning of year $784,916 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $99,160,835 · end of year $0

  • 21 · Escrow or custodial account liability

    end of year $32,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $50,826,499 · end of year $0

  • 25 · Other liabilities

    beginning of year $103,935,446 · end of year $15,753,442

  • 27 · Net assets without donor restrictions

    beginning of year $47,298,082 · end of year $34,994,624

  • 28 · Net assets with donor restrictions

    beginning of year $14,254,328 · end of year $14,143,691

Mission and programs · 2024

Mission

The heart of the Organization is to carry out Christ's healing ministry by offering health, healing, and hope to every individual who seeks our care.

Activities or mission (Part I)

To carry out Christ's healing ministry by offering health, healing, and hope.

  • Medical, surgical, and various other services. Please see Schedule H.The Catholic Healthcare Trust ("CHT," f/k/a the Catholic Medical Center) was an agency of the Roman Catholic Church and provided health care in a manner consistent with the Ethical and Religious Directives for Catholic Health Care Services as interpreted by the Roman Catholic Bishop of Manchester. Throughout its existence, CHT employed the highest quality health care professionals and the most appropriate technology to deliver an array of services, either directly or through strategic alliances with compatible health care providers. With dignity and compassion, CHT treated the body, mind, and spirit of all who sought or provided care and comfort. Additional details are provided in Schedule H.Additionally, starting in January 2025, the Organization's operations consisted entirely of administrative and wind-down functions, as the majority of its assets and activities were transferred to the Healthcare Corporation of America (HCA), with any remaining net assets being contributed to a charitable foundation dedicated to furthering Catholic health care and human services. It is the position of the Organization that these wind-down procedures will ultimately lead to the more efficient and effective provision of care and health services in the Organization's community, thereby better fulfilling its mission to further Christ's ministry of health.

    Expenses $180,745,348 · Grants $40,000,254 · Revenue $162,418,331

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alexander Walker Jr

    President & CEO (end 4/2025)

    Total calculated
    $1,084,638
    From this org
    $737,266
    From related orgs
    $0
    Other
    $347,372
    Hours/week
    41 + 4 related

    Schedule J breakdown matched by us

    Base
    $701,793
    Bonus
    $0
    Other
    $35,473
    Deferred
    $318,139
    Nontaxable benefits
    $29,233
    Filer's total
    $1,084,638

  • Patricia Furey MD

    Director/Med Staff Pres. (end 1/25)

    Total calculated
    $587,390
    From this org
    $0
    From related orgs
    $532,423
    Other
    $54,967
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $431,088 related
    Bonus
    $0 + $101,335 related
    Other
    $0
    Deferred
    $0 + $16,934 related
    Nontaxable benefits
    $0 + $38,033 related
    Filer's total
    $0 + $587,390 related

  • Robert Capodilupo MD

    Int. Trustee/Exec Med Dir.(end 1/25)

    Total calculated
    $794,813
    From this org
    $0
    From related orgs
    $748,330
    Other
    $46,483
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $593,082 related
    Bonus
    $0 + $152,480 related
    Other
    $0 + $2,768 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $29,233 related
    Filer's total
    $0 + $794,813 related

  • William Furlong

    Director (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Robert Gossett

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Roger Jean

    Director

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Kristy Merrill

    Director (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • John J Munoz MD

    Director (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Grace Tung

    Director (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Timothy Riley

    Chair (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Marie McKay CPA

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Pamela Diamantis

    Chair

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Matthew Albuquerque

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Matthew Kfoury

    Secretary (end 1/2025)

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Isideal Cuko

    President & CEO

    Total calculated
    $531,034
    From this org
    $500,247
    From related orgs
    $0
    Other
    $30,787
    Hours/week
    41 + 4 related

    Schedule J breakdown matched by us

    Base
    $417,411
    Bonus
    $60,000
    Other
    $22,836
    Deferred
    $0
    Nontaxable benefits
    $30,787
    Filer's total
    $531,034

  • Pamela Martel

    Executive VP & CFO

    Total calculated
    $436,312
    From this org
    $422,512
    From related orgs
    $0
    Other
    $13,800
    Hours/week
    41 + 4 related

    Schedule J breakdown matched by us

    Base
    $421,372
    Bonus
    $0
    Other
    $1,140
    Deferred
    $13,800
    Nontaxable benefits
    $0
    Filer's total
    $436,312

  • Andrew Watt MD

    VP, Chief Med Information Officer

    Total calculated
    $465,407
    From this org
    $431,567
    From related orgs
    $0
    Other
    $33,840
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,858
    Bonus
    $1,000
    Other
    $709
    Deferred
    $4,780
    Nontaxable benefits
    $29,060
    Filer's total
    $465,407

  • Jason Cole Esq

    VP, General Counsel

    Total calculated
    $400,575
    From this org
    $352,302
    From related orgs
    $0
    Other
    $48,273
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $351,086
    Bonus
    $0
    Other
    $1,216
    Deferred
    $11,240
    Nontaxable benefits
    $37,033
    Filer's total
    $400,575

  • Iryna Tsvirko MD

    Physician

    Total calculated
    $311,518
    From this org
    $268,748
    From related orgs
    $0
    Other
    $42,770
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,719
    Bonus
    $0
    Other
    $20,029
    Deferred
    $11,317
    Nontaxable benefits
    $31,453
    Filer's total
    $311,518

  • Kristine M DiFore

    VP, Human Resources

    Total calculated
    $335,858
    From this org
    $298,145
    From related orgs
    $0
    Other
    $37,713
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,433
    Bonus
    $0
    Other
    $712
    Deferred
    $4,480
    Nontaxable benefits
    $33,233
    Filer's total
    $335,858

  • Jennifer Cassin

    VP, Chief Nursing Officer

    Total calculated
    $328,879
    From this org
    $301,761
    From related orgs
    $0
    Other
    $27,118
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $301,761
    Bonus
    $0
    Other
    $0
    Deferred
    $11,588
    Nontaxable benefits
    $15,530
    Filer's total
    $328,879

  • Edward Dudley III

    Former Executive VP & CFO

    Total calculated
    $459,761
    From this org
    $459,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $459,761
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $459,761

  • Carolanne O'Sullivan

    Former Senior VP

    Total calculated
    $283,019
    From this org
    $283,019
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $283,019
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $283,019

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

  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
Catholic Medical Center provides certain fringe benefits that have gross-up calculations to cover taxes for a select few officers and/or highly compensated employees. In no case did this amount exceed $15,000 during the year for any one individual.
Part I, Lines 4a-b
Form 990, Schedule J, Part I, Line 4a, Severance: Carolanne O'Sullivan served the Hospital as its Senior VP of Provider Networks in a previous tax year, and was listed historically as one of the Hospital's top five highest paid employees. Carolanne O'Sullivan ended her term of service as an employee of the Hospital in a past tax year. During the 2024 calendar year, Carolanne O'Sullivan received severance payouts of $283,019 which were included in her 2024 Form W-2. As the total 2024 compensation she recieved would make Ms. O'Sullivan one of the top-highest paid employees for this reporting period, she has been disclosed as a "Former" highest paid employee on this Form 990 in accordance with IRS Instructions. Form 990, Schedule J, Part I, Line 4b, Non-Qualified Deferred Compensation: The following individuals take part in a section 457(f) forfeitable non-qualified deferred compensation plan. The amounts listed represent calendar year 2024 contributions for many years of service, and are included in the total deferred compensation reported on this Schedule J, Part II, Column C. - Alexander Walker, Jr., Esq.: $304,339 Additionally, Edward Dudley, who in years prior to this Form 990 reporting period served as the Organization's Executive VP and CFO, received distributions from his own section 457(f) forfeitable non-qualified deferred compensation plan during the calendar year ending within this tax year. Therefore, in accordance with IRS Instructions, Mr. Dudley has been reported as a "Former" Officer on this Form 990, Part VII, and his 457(f) plan distributions, as reported to him as 2024 W-2 income, is also disclosed on this Form 990, Schedule J, Part II, Column B(iii) as "Other Income." Lastly, as such distributions relate to amounts previously reported as deferred compensation, the distributions have also been reported on this Schedule J, Part II, within Column F.
Part I, Line 7
A portion of compensation is at-risk and variable, and payment depends on the quality of job performance.

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.

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 partnerships

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

Related corporations and trusts

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.5
Source object
202612269349302336

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