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Nonprofiteer
← MAIN LINE REALTY CORPORATION

Form 990 for tax year 2022

Filed by MAIN LINE REALTY CORPORATION.

Totals

Total revenue
$14,385,740
Total expenses
$6,804,520
Contributions and grants received
$0
Grants paid
$0
Program services expenses (Part IX)
$6,468,110
Management and general expenses
$336,410
Fundraising expenses
$0
Program service expenses (Part III)
$6,468,110

Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JOHN J LYNCH III

    PRESIDENT/EX-OFFICIO TRUSTEE

    Total calculated
    $2,602,428
    From this org
    $0
    From related orgs
    $2,005,175
    Other
    $597,253
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,267,318 related
    Bonus
    $0 + $384,384 related
    Other
    $0 + $353,473 related
    Deferred
    $0 + $554,414 related
    Nontaxable benefits
    $0 + $42,839 related
    Filer's total
    $0 + $2,602,428 related

  • MICHAEL J BUONGIORNO

    EVP-FINANCE/TREASURER/TRUSTEE

    Total calculated
    $1,110,735
    From this org
    $0
    From related orgs
    $949,105
    Other
    $161,630
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $712,890 related
    Bonus
    $0 + $160,531 related
    Other
    $0 + $75,684 related
    Deferred
    $0 + $118,545 related
    Nontaxable benefits
    $0 + $43,085 related
    Filer's total
    $0 + $1,110,735 related

  • BRIAN T CORBETT ESQ

    SR. VP, GEN COUNSEL/SECRETARY

    Total calculated
    $871,651
    From this org
    $0
    From related orgs
    $720,653
    Other
    $150,998
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $535,335 related
    Bonus
    $0 + $102,332 related
    Other
    $0 + $82,986 related
    Deferred
    $0 + $112,875 related
    Nontaxable benefits
    $0 + $38,123 related
    Filer's total
    $0 + $871,651 related

  • EILEEN CARR

    ASSISTANT SECRETARY

    Total calculated
    $157,568
    From this org
    $0
    From related orgs
    $130,017
    Other
    $27,551
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $128,262 related
    Bonus
    $0 + $1,755 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $27,551 related
    Filer's total
    $0 + $157,568 related

  • STEVEN HIGGINS

    CHAIRMAN/TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 9 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 4B
NONQUALIFIED RETIREMENT PLAN: THE PRESIDENT AND EVP-FINANCE/TREASURER ("PARTICIPANTS") PARTICIPATE IN A NONQUALIFIED RETIREMENT PLAN. MAIN LINE HOSPITALS, INC. PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH A FUNDING ARRANGEMENT KNOWN AS A COLLATERAL ASSIGNMENT SPLIT DOLLAR POLICY. THE PLAN PROVIDES THAT THE SYSTEM WILL PAY PREMIUM PAYMENTS ON A LIFE INSURANCE POLICY FOR EACH OF THE PARTICIPANTS. DURING THE PARTICIPANTS' LIFE, TO THE EXTENT SERVICE AND VESTING REQUIREMENTS ARE FULFILLED, THE PARTICIPANT CAN BORROW AGAINST VALUES IN THE POLICY TO SUPPLEMENT RETIREMENT INCOME. IT IS REASONABLE TO BELIEVE THAT THE LOAN IS PAID IN FULL UPON THE DEATH OF THE PARTICIPANT. FORGIVEN INTEREST INCLUDED IN PARTICIPANTS' EARNINGS ARE: PRESIDENT $41,370 EVP-FINANCE/TREASURER $12,369 SERP DISCLOSURE: MAIN LINE HEALTH, INC. ("MLH") AND ITS AFFILIATES PROVIDED SUPPLEMENTAL RETIREMENT BENEFITS THROUGH ESTABLISHED SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS ("SERP") TO SELECT MEMBERS OF SENIOR LEADERSHIP IN FY23. SERP BENEFITS FUNDED BY MLH ARE SUBJECT TO VESTING AND EMPLOYMENT DATE REQUIREMENTS AND ARE PAID OUT AT THE CONCLUSION OF A PREDETERMINED PERFORMANCE PERIOD. A PERFORMANCE PERIOD IS A TIMEFRAME OF AT LEAST TWELVE MONTHS THAT MAY COVER VARYING LENGTHS OF TIME FOR EACH INDIVIDUAL EMPLOYEE. BENEFITS FOR PARTICIPANTS VESTED IN A PLAN WERE REPORTED IN SCHEDULE J, PART II, COLUMN (B) (III) AND BENEFITS FOR PARTICIPANTS NOT YET VESTED IN A PLAN WERE REPORTED IN SCHEDULE J, PART II, COLUMN (C).
FORM 990, SCHEDULE J, PART I, LINE 7
THE COMPENSATION OF THE CEO, EVP & CHIEF FINANCIAL OFFICER, HOSPITAL PRESIDENTS, AND OTHER SENIOR EXECUTIVES DID INCLUDE A NON-FIXED COMPONENT PAYMENT OF COMPENSATION BASED UPON PRE-ESTABLISHED QUALITY, PATIENT SAFETY, AND FINANCIAL TARGETS ESTABLISHED AT THE BEGINNING OF THE FISCAL YEAR. THE HUMAN RESOURCES AND COMPENSATION COMMITTEE OF THE MAIN LINE HEALTH BOARD IS RESPONSIBLE FOR EVALUATING AND DETERMINING THE APPROPRIATENESS OF THE TARGETS. AFTER REVIEW AND DELIBERATION, THE COMMITTEE DOCUMENTS ITS DECISIONS AND REPORTS TO THE FULL BOARD OF GOVERNORS WHO REVIEW THE COMPENSATION DECISIONS. PAYMENTS ARE MADE TO THE APPROPRIATE INDIVIDUALS BY THE ORGANIZATION WITHIN WHICH THOSE INDIVIDUALS RESIDE FOR PAYROLL REPORTING PURPOSES.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202421359349311102

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

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