2023-08-14T15:00:35-05:00 2022-09-30 464547996 E J CALLAHAN & ASSOCIATES LLC ONE PLEASURE ISLAND ROAD SUITE 2A WAKEFIELD MA 01880 990 2021-10-01 042770980 EMERSON HEALTH CARE FOUNDATION INC EMER 9782878709 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 STEPHEN COCO SR VP, CFO 9782878709 2023-08-14 1 STEPHEN COCO 999009999 EDWARD J CALLAHAN CPA P00314334 6179747697 2023-08-14 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z STEPHEN COCO OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 9824407 0 X EMERSONHOSPITAL.ORG X 1992 MA COORDINATE AND DEVELOP THE FUNDRAISING EFFORT FOR EMERSON HOSPITAL 25 22 0 0 0 0 3689999 9745991 0 0 161 525 0 0 3690160 9746516 800000 1015000 0 0 733809 825826 0 0 1103767 231633 277941 1765442 2118767 1924718 7627749 6800862 10339772 1374741 168516 5426121 10171256 X EMERSON HEALTH CARE FOUNDATION INC PROVIDES PHILANTHROPIC RESOURCES TO ASSIST EMERSON HEALTH SYSTEM, INC AND EMERSON HOSPITAL IN FULFILLING THEIR MISSION OF IMPROVING THE HEALTH STATUS OF THE PEOPLE IN THE COMMUNITIES IT SERVES. THROUGH THE ON-GOING CULTIVATION OF RELATIONSHIPS, THE FOUNDATION LEADERSHIP WILL STRIVE TO CREATE THE WILLINGESS AS WELL AS THE MEANS THROUGH WHICH EMERSON HOSPITAL'S CONSTITUENTS WILL FINANCIALLY SUPPORT THE FACILITY, EQUIPMENT, OPERATIONAL, EDUCATIONAL AND PROGRAMMATIC NEEDS OF THE HOSPITAL. THE FOUNDATION WILL STRIVE CONTINUALLY TO EXPAND THE BASE OF ANNUAL PHALANTHROPIC SUPPORT AND BUILD AN ENDOWMENT TO ENSURE THE COMMUNITY'S FUTURE HEALTH CARE NEEDS. 0 0 1015000 1015000 EMERSON HEALTH CARE FOUNDATION IS AN ORGANIZATION THAT SUPPORTS FUNDRAISING EFFORTS FOR EMERSON HOSPITAL. 1015000 1 1 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 1 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 X 25 22 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X STEPHEN COCO 9782878709 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 KENNETH ANDERSON JR TREASURER 4.00 X X 0 0 0 THOMAS BEAUDOIN DIRECTOR 4.00 X 0 0 0 WILLIAM P BOGER III MD DIRECTOR 4.00 X 0 0 0 JEFFREY S CAMPBELL DIRECTOR 4.00 X 0 0 0 LIZA CAREY DIRECTOR 4.00 X 0 0 0 STEPHEN W CARR DIRECTOR 4.00 X 0 0 0 GLORIA L CLOUGH DIRECTOR 4.00 10.00 X 0 0 0 DANNY COSTA DIRECTOR 4.00 X 0 0 0 CHARLES A DENAULT CHAIR 4.00 X X 0 0 0 DEBORAH A GREENE MD DIRECTOR 4.00 X 0 0 0 DENISE HAARTZ DIRECTOR 4.00 X 0 0 0 JEANNE S KANGAS DIRECTOR 4.00 X 0 0 0 KARL F KUSSIN CHIEF PHILANTHROPY OFFICER 50.00 X X 0 295671 49048 JOHN LIBERTINO MD DIRECTOR 4.00 2.00 X 0 224346 0 PHILIP S LOTANE DIRECTOR 4.00 X 0 0 0 LYNN MARTIN DIRECTOR 4.00 X 0 0 0 KAREN MCGINN DIRECTOR 4.00 X 0 0 0 JOSHUA M NELSON VICE CHAIR 4.00 X X 0 0 0 KIMBERLY PATENAUDE DIRECTOR 4.00 X 0 0 0 ANNA W RASMUSSEN DIRECTOR 4.00 X 0 0 0 SANDRA A SCHELZI SECRETARY 4.00 X X 0 0 0 CHRISTINE C SCHUSTER PRESIDENT AND CEO 4.00 56.00 X X 0 1251184 238690 ROBERT B SEGAL DIRECTOR 4.00 X 0 0 0 ANDREW J SOHN DIRECTOR 4.00 X 0 0 0 JILL STANSKY DIRECTOR 4.00 X 0 0 0 DAVID LAUTZ MD PHYSICIAN 0.00 60.00 X 0 1579987 30507 ARTHUR LEE MD PHYSICIAN 0.00 60.00 X 0 1098691 24207 JAMES SPINELLI MD PHYSICIAN 0.00 60.00 X 0 735564 8313 JOHN DOWD MD PHYSICIAN 0.00 60.00 X 0 605075 30507 ELIZAVETA RAGULIN COYNE MD PHYSICIAN 0.00 60.00 X 0 599491 24207 MICHAEL HACHEY FORMER ASSISTANT TREASURER 4.00 36.00 X 0 669698 71060 0 7059707 476539 0 1 1 0 0 86749 9659242 9745991 525 525 77891 212431 77891 0 9746516 0 0 525 1015000 1015000 693477 693477 132349 132349 90000 90000 10987 10987 2234 2234 CONTRACTED SERVICES 131364 131364 MISCELLANEOUS 20465 20465 PRINTING 16040 16040 FOOD & FUNCTION 5942 5942 909 909 2118767 1015000 0 1103767 2204845 2079472 9574 1011218 4586443 3845907 0 3403175 6800862 10339772 1374741 168516 1374741 168516 X -18613 -220470 5444734 10391726 5426121 10171256 6800862 10339772 X 7627749 -621692 -2260922 X X 0 1 X 1 0 X X X 1 EMERSON HOSPITAL 042103565 3 1 478519 0 1 478519 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3108451 122946 554557 145389 3640565 2452598 262343 513718 120208 3108451 2315726 121795 127798 112721 2452598 2197719 111039 109254 102286 2315726 2084029 99540 104363 90213 2197719 0.04000 0.74000 0.22000 0 0 0 BENEFICIAL INTEREST IN SPLIT-INTEREST 205341 F UNRESTRICTED 136630 F TEMPORARILY RESTRICTED 3503936 F 3845907 PLEDGES RECEIVABLE, NET 3403175 3403175 X 8731516 -1015000 -1015000 9746516 0 9746516 1103767 -1015000 -1015000 2118767 0 2118767 PART V, LINE 4: THE PRINCIPAL BALANCE OF THE ENDOWMENT FUND IS PERMANENTLY RESTRICTED FROM USE. INCOME ON THE ENDOWMENT FUND THAT HAS BEEN DESIGNATED FOR A SPECIFIC PURPOSE BY THE DONOR IS USED AS SPECIFIED. OTHERWISE, THE INCOME IS USED TO ADVANCE THE ORGANIZATION'S GENERAL CHARITABLE PURPOSE. PART X, LINE 2: IN FISCAL 2022 THERE WAS NO FOOTNOTE IN THE AUDITED FINANCIAL STATEMENTS REFERENCING FIN48 BECAUSE THE ORGANIZATION DID NOT FILE UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RECLASS MANAGMENT FEE TO EXPENSE -1,015,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS MANAGEMENT FEE FROM REVENUE -1,015,000. X X X X X 0 LESTER INC 19 BUSINESS PARK DRIVE BRANFORD CT 06405 TELEMARKETING 0 8780 2531 6249 8780 2531 6249 MA RUN/WALK FOR CANCER 180982 146039 34943 9798 900 3888 20357 GOLF TOURNAMENT 109340 66392 42948 10355 9760 16091 6742 290322 212431 77891 20153 10660 19979 27099 77891 0 1 EMERSON HOSPITAL 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 042103565 0 1015000 PROVIDE FINANCIAL SUPPORT TO EMERSON HOSPITAL 1 PART I, LINE 2: EMERSON HOSPITAL HEALTHCARE FOUNDATION MEETS WITH EMERSON HOSPITAL ADMINISTRATIVE STAFF TO ENSURE THAT GRANT USE IS CONSISTENT WITH ANY RESTRICTIONS THAT HAD BEEN PLACED. 0 1 0 0 0 0 1 0 0 DAVID LAUTZ MD PHYSICIAN 0 799384 0 778281 0 2322 0 0 0 30507 0 1610494 0 0 CHRISTINE C SCHUSTER PRESIDENT AND CEO 0 1048653 0 198967 0 3564 0 238690 0 0 0 1489874 0 0 ARTHUR LEE MD PHYSICIAN 0 676603 0 420846 0 1242 0 0 0 24207 0 1122898 0 0 JAMES SPINELLI MD PHYSICIAN 0 548392 0 186362 0 810 0 0 0 8313 0 743877 0 0 MICHAEL HACHEY FORMER ASSISTANT TREASURER 0 487116 0 180885 0 1697 0 58910 0 12150 0 740758 0 0 JOHN DOWD MD PHYSICIAN 0 585000 0 18833 0 1242 0 0 0 30507 0 635582 0 0 ELIZAVETA RAGULIN COYNE MD PHYSICIAN 0 392312 0 206693 0 486 0 0 0 24207 0 623698 0 0 KARL F KUSSIN CHIEF PHILANTHROPY OFFICER 0 255687 0 36420 0 3564 0 28340 0 20708 0 344719 0 0 JOHN LIBERTINO MD DIRECTOR 0 224046 0 300 0 0 0 0 0 0 0 224346 0 0 PART I, LINE 4B KARL KUSSIN, CHRISTINE SCHUSTER AND MICHAEL HACHEY ARE PAID THROUGH EMERSON HOSPITAL AND ARE ELIGIBLE TO PARTICIPATE IN THE FOLLOWING NONQUALIFIED RETIREMENT PLAN. EMERSON HOSPITAL OFFERS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO A SELECT CLASS OF MANAGEMENT. SUPPLEMENTAL RETIREMENT INCOME IS ASSESSED BY AN INDEPENDENT ACTUARY TO DETERMINE ANNUAL CONTRIBUTION AMOUNTS BY EMERSON HOSPITAL. PLAN CONTRIBUTIONS BECOME INCOME TO THE PARTICIPANT BASED ON A CLIFF VESTING SCHEDULE, WHICH IS EVERY FIVE YEARS FROM THE DATE OF PLAN ENROLLMENT. THE FOLLOWING PERSONS PARTICIPATED IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. CHRISTINE SCHUSTER $214,590 MICHAEL HACHEY $34,810 KARL KUSSIN $4,240 PART I, LINE 6 EMERSON HOSPITAL EXECUTIVES ARE ELIGIBLE TO RECEIVE INCENTIVE COMPENSATION IN THE AMOUNT OF 5% OF BASE SALARY IF THE ORGANIZATION ACHIEVES THE BOARD APPROVED BUDGETED GAIN FROM OPERATIONS FOR THE FISCAL YEAR. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS DENISE HAARTZ, GLORIA CLOUGH AND ANNA WINTER RASMUSSEN SERVE TOGETHER ON THE BOARD OF DIRECTORS OF THE LOUISA MAY ALCOTT ORCHARD HOUSE OF CONCORD. FORM 990, PART VI, SECTION A, LINE 6 EMERSON HEALTH SYSTEM, INC ACTING THROUGH ITS BOARD OF DIRECTORS, IS THE MEMBER FOR EMERSON HEALTH CARE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A THE NUMBER AND COMPOSITION OF THE BOARD OF DIRECTORS IS FIXED ANNUALLY BY THE MEMBER, EMERSON HEALTH SYSTEM. FORM 990, PART VI, SECTION A, LINE 7B THE NUMBER AND COMPOSITION OF THE BOARD OF DIRECTORS IS FIXED ANNUALLY BY THE MEMBER, EMERSON HEALTH SYSTEM. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 WAS PRESENTED TO THE BOARD OF DIRECTORS DURING A REGULARLY SCHEDULED MEETING AND WAS OPEN FOR REVIEW, DISCUSSION, QUESTIONS AND COMMENTS PRIOR TO FILING. FORM 990, PART IX, LINES 5, 7 AND 9 ALL PERSONNEL ARE EMPLOYEES OF EMERSON HOSPITAL, INC AND W-2S ARE ISSUED BY EMERSON HOSPITAL. THE EXPENSE FOR EMPLOYEES DOING THE WORK OF EMERSON HEALTH CARE FOUNDATION IS ALLOCATED TO EMERSON HEALTH CARE FOUNDATION VIA INTERCOMPANY ACCOUNTS. THE AMOUNTS ON LINES 5, 7, AND 9 REPRESENT THE EXPENSE ALLOCATED BY EMERSON HOSPITAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIERCTORS REQUIRES THAT ALL BOARD MEMBERS AND SENIOR MANAGERS COMPLETE AND SIGN THE CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE EXECUTIVE DIRECTOR REVIEWS THESE QUESTIONNAIRES AND SUMMARIZES ANY ISSUES THAT COULD CREATE A CONFLICT OF INTEREST. THIS SUMMARY IS REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS AND IS PRESENTED TO THE ENTIRE BOARD ANNUALLY SO THAT ALL BOARD MEMBERS ARE AWARE OF POTENTIAL CONFLICTS OF INTEREST AND HAVE INFORMATION THEY CAN RELY ON IF THEY FEEL AN INDIVIDUAL MAY HAVE DIVIDED LOYALTIES ON A DECISION COMING BEFORE THE BOARD OF DIRECTORS. THE BOARD CHAIR IS RESPONSIBLE FOR EVALUATING ANY CONFLICT OF INTEREST AND DETERMINING THE TREATMENT OF THE SITUATION ACCORDING TO BOARD POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO AND CHIEF PHILANTHROPY OFFICER OF EMERSON HEALTH CARE FOUNDATION ARE EMPLOYED BY EMERSON HOSPITAL. EMERSON HOSPITAL'S BOARD OF DIRECTORS HOLDS THE SOLE RESPONSIBILITY FOR ESTABLISHING THE COMPENSATION OF THE CEO. THE COMPENSATION COMMITTEE, A SUBCOMMITTEE OF THE BOARD OF DIRECTORS COMPRISED OF AT LEAST THREE INDEPENDENT BOARD MEMBERS, IS RESPONSIBLE FOR THE REVIEW AND RECOMMENDATION OF THE CEO'S COMPENSATION. THIS ANALYSIS INCLUDES AN ANNUAL INDEPENDENT REVIEW OF COMPARABLE INSTITUTIONS. THE SR VP & CHIEF OPERATING OFFICER, ACTING AS STAFF SUPPORT FOR THE COMMITTEE, MAINTAINS WRITTEN RECORDS ON COMPENSATION AND THE COMMITTEE'S ACTIONS. MEETING MINUTES DOCUMENT THE COMMITTEE'S DECISION-MAKING PROCESS, THE TYPES OF COMPARABLE DATA THAT WAS USED TO DETERMINE THE FAIR MARKET VALUE FOR AN EXECUTIVE'S SERVICES AND THE NATURE OF ANY DECISIONS MADE SO AS TO ESTABLISH A REBUTTABLE PRESUMPTION OF REASONABLENESS FOR COMPENSATION FOR A DISQUALIFIED INDIVIDUAL. THE COMPENSATION COMMITTEE ALSO REVIEWS AND APPROVES THE CEO'S RECOMMENDATION OF COMPENSATION FOR KEY EMPLOYEES INCLUDING OFFICERS AND VICE PRESIDENTS. THIS ANALYSIS INCLUDES AND INDEPENDENT REVIEW OF COMPARABLE INSTITUTIONS. THE SR VP & CHIEF OPERATING OFFICER, ACTING AS STAFF SUPPORT FOR THE COMMITTEE, MAINTAINS WRITTEN RECORDS ON COMPENSATION AND THE COMMITTEE'S ACTIONS. MEETING MINUTES DOCUMENT THE COMMITTEE'S DECISION-MAKING PROCESS, THE TYPES OF COMPARABLE DATA THAT WAS USED TO DETERMINE THE FAIR MARKET VALUE FOR AN EXECUTIVE'S SERVICES AND THE NATURE OF ANY DECISIONS MADE SO AS TO ESTABLISH A REBUTTABLE PRESUMPTION OF REASONABLENESS FOR COMPENSATION FOR A DISQUALIFIED INDIVIDUAL. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. FORMS 1023 AND 990 ARE ALSO AVAILABLE UPON REQUEST TO THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 EMERSON HEALTH CARE FOUNDATION'S BY-LAWS ARE AVAILABLE ON THE MASSACHUSETTS SECRETARY OF STATE'S WEBSITE. CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET ASSETS RELEASED FOR PLANT AND EQUIPMENT -678,785. TRANSFER TO AFFILIATES -1,272,094. NET ASSETS RELEASED FOR OPERATIONS -478,519. PRIOR PERIOD ADJUSTMENT 168,476. FORM 990, PART XII, LINE 2C: NO CHANGES HAVE BEEN MADE DURING THE FISCAL YEAR TO CHANGE THE OVERSIGHT PROCESS OR SELECTION PROCESS. EMERSON HEALTH SYSTEM INC 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 042770977 PROVIDES ITS SUBSIDIARIES WITH A MANAGEMENT TEAM MA 501(C)3 509(A)(3) TYPE I N/A 0 EMERSON HOSPITAL INC 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 042103565 ACUTE CARE COMMUNITY HOSPITAL MA 501(C)3 170(B)(1)(A)(III) EMERSON HEALTH SYSTEM INC 0 EMERSON PRACTICE ASSOCIATES 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 043111240 HEALTH CARE SERVICES IN THE COMMUNITIES SERVED BY EMERSON HOSPITAL MA 501(C)3 170(B)(1)(A)(III) EMERSON HOSPITAL INC 0 EMERSON PRACTICE ASSOICATES II 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 800482067 HEALTH CARE SERVICES IN THE COMMUNITIES SERVED BY EMERSON HOSPITAL MA 501(C)3 170(B)(1)(A)(III) EMERSON HOSPITAL INC 0 EMERSON OCCUPATIONAL HEALTH SERVICES INC 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 042800607 HEALTH SERVICES MA EMERSON HEALTH SYSTEMS INC C -1915 0 EMERSON PROPERTY DEVELOPMENT CORP 133 OLD ROAD TO NINE ACRE CORNER CONCORD MA 01742 042793599 PROPERTY MANAGEMENT MA EMERSON HEALTH SYSTEMS INC C 16811 66466 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0 EMERSON HOSPITAL L 1272094 REPORTED AT FAIR VALUE EMERSON HOSPITAL O 825826 REPORTED AT FAIR VALUE EMERSON HOSPITAL P 277941 REPORTED AT FAIR VALUE