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Nonprofiteer
← UCM NFP COMMUNITY VENTURES

Form 990 for tax year 2022

Filed by UCM NFP COMMUNITY VENTURES.

Totals

Total revenue
$3,776,086
Total expenses
$5,738,997
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,776,086
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,376,969
Total liabilities, end of year
$119,828,232
Net assets or fund balances, end of year
-$115,451,263
Program services expenses (Part IX)
$5,662,730
Management and general expenses
$76,267
Fundraising expenses
$0
Program service expenses (Part III)
$5,662,730

Program services were 98.7% 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.

  • 2a · Program service revenue: Pharmacy prescription revenue

    total $3,692,530 · related or exempt $3,692,530

  • 2b · Program service revenue: Rental Income

    total $83,556 · related or exempt $83,556

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $1,000 · management and general $1,000

  • 11c · Fees: accounting

    total $66 · management and general $66

  • 11g · Fees: other

    total $1,474,769 · program services $1,474,769 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $13,511 · program services $11,220 · management and general $2,291

  • 16 · Occupancy

    total $22,567 · program services $22,567

  • 22 · Depreciation, depletion and amortization

    total $151,131 · program services $78,221 · management and general $72,910

  • 23 · Insurance

    total $140 · program services $140

  • 24a · Other expenses: Pharmacy Supplies

    total $4,015,990 · program services $4,015,990

  • 24b · Other expenses: Repair and maintenance

    total $59,604 · program services $59,604

  • 24c · Other expenses: Miscellaneous expenses

    total $219 · program services $219

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $0 · end of year $1,552,957

  • 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

  • 8 · Inventories for sale or use

    beginning of year $109,735 · end of year $213,765

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

    $1,445,755

  • 10b · Land, buildings and equipment: accumulated depreciation

    $431,972

  • 10c · Land, buildings and equipment, net

    beginning of year $1,092,004 · end of year $1,013,783

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $1,532,420 · end of year $1,525,951

  • 15 · Other assets

    beginning of year $714 · end of year $70,513

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,200,745 · end of year $6,402,183

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $87,739,164 · end of year $113,426,049

  • 27 · Net assets without donor restrictions

    beginning of year -$88,205,036 · end of year -$115,451,263

Mission and programs · 2022

Mission

IHV'S MISSION IS TO PROMOTE AND SUPPORT THE INTEREST AND PURPOSES OF INGALLS MEMORIAL HOSPITAL AND OTHER ORGANIZATIONS THAT PROMOTE THE HEALTH OF THE COMMUNITY AND PROVIDE HEALTHCARE SERVICES.

Activities or mission (Part I)

THE MISSION OF INGALLS HEATH VENTURES (IHV) IS TO SUPPORT INGALLS MEMORIAL HOSPITAL AND THE PROMOTION OF HEALTH IN THE COMMUNITY.

  • IHV SUPPORTS THE INGALLS HEALTH VENTURES HOME INFUSION PROGRAM. THE MEDICAL STAFF OF INGALLS MEMORIAL HOSPITAL PROVIDES PERSONAL SERVICES FOR PATIENT HOME INFUSION NEEDS.

    Expenses $5,469,316 · Revenue $3,692,530

  • IHV HOLDS REAL ESTATE PROPERTIES IN ORDER TO ASSIST INGALLS MEMORIAL HOSPITAL IN PROVIDING HEALTH SERVICES TO THE COMMUNITY.

    Expenses $193,414 · Revenue $83,556

As filed on the 2022 return.

Listed in Part VII

  • EMILY CHASE

    INTERIM PRESIDENT (7/10/22 THRU 3/7/23)

    Total calculated
    $957,706
    From this org
    $0
    From related orgs
    $814,302
    Other
    $143,404
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $533,446 related
    Bonus
    $0 + $240,486 related
    Other
    $0 + $40,370 related
    Deferred
    $0 + $105,854 related
    Nontaxable benefits
    $0 + $37,550 related
    Filer's total
    $0 + $957,706 related

  • MICHAEL ANTONIADES

    INTERIM PRESIDENT, INGALLS (EFF. 3/7/23)

    Total calculated
    $0
    Hours/week
    1 + 43 related

  • RANDY NEISWONGER

    BOARD MEMBER/IMH PRESIDENT (THRU 7/10/22)

    Total calculated
    $425,007
    From this org
    $0
    From related orgs
    $388,177
    Other
    $36,830
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,241 related
    Bonus
    $0 + $127,836 related
    Other
    $0 + $3,100 related
    Deferred
    $0 + $7,947 related
    Nontaxable benefits
    $0 + $28,883 related
    Filer's total
    $0 + $425,007 related

  • SARA HAGGERTY

    SECRETARY/TREASURER

    Total calculated
    $403,505
    From this org
    $0
    From related orgs
    $341,647
    Other
    $61,858
    Hours/week
    1 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,303 related
    Bonus
    $0 + $83,792 related
    Other
    $0 + $553 related
    Deferred
    $0 + $22,613 related
    Nontaxable benefits
    $0 + $39,245 related
    Filer's total
    $0 + $403,505 related

  • LESLIE (LES) R STERN

    BOARD MEMBER/PRESIDENT CARE NETWORK

    Total calculated
    $671,954
    From this org
    $0
    From related orgs
    $562,760
    Other
    $109,194
    Hours/week
    1 + 44 related

    Schedule J breakdown matched by us

    Base
    $0 + $446,808 related
    Bonus
    $0 + $101,095 related
    Other
    $0 + $14,857 related
    Deferred
    $0 + $73,623 related
    Nontaxable benefits
    $0 + $35,570 related
    Filer's total
    $0 + $671,954 related

  • IVAN SAMSTEIN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $1,404,762
    From this org
    $0
    From related orgs
    $1,193,414
    Other
    $211,348
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $873,834 related
    Bonus
    $0 + $287,750 related
    Other
    $0 + $31,830 related
    Deferred
    $0 + $176,154 related
    Nontaxable benefits
    $0 + $35,194 related
    Filer's total
    $0 + $1,404,763 related

  • DOUGLAS SAEGESSER

    FORMER SECRETARY/TREASURER (THRU 9/8/2021)

    Total calculated
    $276,870
    From this org
    $0
    From related orgs
    $253,258
    Other
    $23,612
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $253,258 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $23,612 related
    Filer's total
    $0 + $276,870 related

  • RICHARD W SILVERIA

    FORMER CHIEF FINANCIAL OFFICER (THRU 4/22/21)

    Total calculated
    $251,969
    From this org
    $0
    From related orgs
    $251,969
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $251,969 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $251,969 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

  • 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)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
COMPENSATION OF THE PRESIDENT AND CEO OF IHV IS REVIEWED AND RECOMMENDED FOR APPROVAL BY THE COMPENSATION COMMITTEE OF UCM COMMUNITY HEALTH & HOSPITAL DIVISION, INC. THE COMMITTEE'S DETERMINATION PROCESS UTILIZES A COMBINATION OF AN INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION STUDIES/SURVEYS, ALONG WITH APPROVAL BY THE COMPENSATION COMMITTEE, WHICH IS THEN REVIEWED AND APPROVED BY THE UCMC COMPENSATION COMMITTEE. THE UCHHD COMPENSATION COMMITTEE CONDUCTS ITS REVIEW AND APPROVAL PROCESS IN A MANNER DESIGNED TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER FEDERAL TAX LAW. THIS IS A RIGOROUS REVIEW AND APPROVAL PROCESS DESIGNED FOR TAX-EXEMPT ORGANIZATIONS BY THE INTERNAL REVENUE SERVICE, AND IS DESIGNED TO RESULT IN COMPETITIVE AND REASONABLE COMPENSATION.
Schedule J, Part I, Line 4a Severance or change-of-control payment
N CALENDAR YEAR 2022, RICHARD SILVERIA AND DOUGLAS SAEGESSER RECEIVED SEVERANCE PAYMENTS FOLLOWING THEIR TERMINATION OF EMPLOYMENT ($251,969 TO RICHARD SILVERIA AND $253,258 TO DOUGLAS SAEGESSER).
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
CERTAIN INDIVIDUALS LISTED IN SCHEDULE J, PART II PARTICIPATE IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN TO WHICH UCMC MAKES ANNUAL CONTRIBUTIONS. THESE CONTRIBUTIONS ARE AT RISK AND DO NOT BECOME VESTED AND PAYABLE UNLESS AND UNTIL THE INDIVIDUAL SATISFIES A SUBSTANTIAL FUTURE SERVICE REQUIREMENT. THE FOLLOWING INDIVIDUALS HAD CONTRIBUTIONS MADE TO THE PLAN IN JANUARY 2023 FOR CALENDAR YEAR 2022: EMILY CHASE IVAN SAMSTEIN NO INDIVIDUALS LISTED IN SCHEDULE J, PART II BECAME VESTED IN, NOR WERE TAXED ON, AMOUNTS PREVIOUSLY CREDITED UNDER THE PLAN TO THE INDIVIDUAL FOR SERVICES PROVIDED TO THE ORGANIZATION IN PRIOR YEARS. FURTHERMORE, NO INDIVIDUALS LISTED IN THIS SCHEDULE J, PART II RECEIVED A DISTRIBUTION FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN.
Schedule J, Part II
TAXABLE INCOME REPORTED IN COLUMN (B) MAY INCLUDE PAYMENTS FROM THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). IN MOST CASES, THESE PAYMENTS WERE EARNED OVER MANY YEARS OF EMPLOYMENT AND THE AMOUNTS HAD PREVIOUSLY BEEN SUBJECT TO VESTING RULES. SERP PAYMENT AMOUNTS EARNED IN PRIOR YEARS WERE PREVIOUSLY REPORTED ON THE FORM 990 AS DEFERRED COMPENSATION AND ARE REPORTED IN THIS 2022 FORM 990 ON SCHEDULE J, PART II, COLUMN (F). THE INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD CONDUCTS ITS REVIEW AND APPROVAL OF ALL EXECUTIVE COMPENSATION, INCLUDING THESE SERP AMOUNTS, IN A MANNER THAT QUALIFIES FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER FEDERAL TAX LAW. THIS IS A RIGOROUS REVIEW PROCESS DESIGNED FOR TAX-EXEMPT ORGANIZATIONS BY THE INTERNAL REVENUE SERVICE, AND IT MEANS THAT THE BOARD COMPENSATION COMMITTEE DOES NOT HAVE ANY CONFLICTS OF INTEREST, AND RELIES ON MARKET DATA COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT TO SUPPORT ALL EXECUTIVE PAY AS MARKET COMPETITIVE AND REASONABLE. FOR THE INDIVIDUALS LISTED ON SCHEDULE J, PART II THAT ARE IDENTIFIED AS FORMER OFFICERS OR KEY EMPLOYEES, THE COMPENSATION LISTED IS EITHER THE FAIR MARKET VALUE COMPENSATION PAID TO THEM FOR SERVICES THEY PERFORMED AS ACTIVE EMPLOYEES OF UCMC OR A RELATED ORGANIZATION (AND WAS NOT PAID TO THEM DUE TO THEIR FORMERLY HAVING BEEN LISTED AS OFFICERS OR KEY EMPLOYEES), OR AS COMPENSATION FOR A COMBINATION OF SERVICES AND SEVERANCE: RICHARD SILVERIA.

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 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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421349349306672

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