2023-11-08T14:17:25-06:00 2022-12-31 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-01-01 133259649 CALVARY FUND INC CALV 7185182069 1740 EASTCHESTER ROAD BRONX NY 104612392 ANDREW V GRECO CFO 7185182069 2023-11-08 1 ANDREW GRECO XXX-XX-XXXX 0 SCOTT THOMPSETT P00741490 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z FRANK A CALAMARI 1740 EASTCHESTER ROAD BRONX NY 104612392 7293600 0 0928 X N/A X 1985 NY TO RAISE PUBLIC FUNDS TO SUPPORT CALVARY HOSPITAL'S TAX-EXEMPT MISSION. 17 16 12 0 0 0 4674635 6576034 0 0 2927800 547900 -207535 -390734 7394900 6733200 1905000 3030000 0 0 1696600 1665500 600431 588689 3456500 1338669 1458511 5540700 6742700 1854200 -9500 41461500 34903500 2257700 2580100 39203800 32323400 X THE CALVARY FUND'S PRIMARY EXEMPT PURPOSE IS TO RAISE PUBLIC CONTRIBUTIONS TO SUPPORT THE TAX-EXEMPT MISSION OF CALVARY HOSPITAL, INC. 0 0 3030000 3030000 0 SEE SCHEDULE O. THE CALVARY FUND, INC. ("THE FUND") WAS INCORPORATED ON JANUARY 7, 1985 AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NEW YORK. THE FUND'S PURPOSE IS TO SOLICIT, ACCEPT, AND RECEIVE REAL AND PERSONAL PROPERTY AND TO COLLECT INCOME, THEREFROM, TO BE APPLIED EXCLUSIVELY FOR ANY HEALTH RELATED CHARITABLE ORGANIZATION AFFILIATED WITH THE ROMAN CATHOLIC ARCHDIOCESE OF NEW YORK. ALL EXPENSES INCURRED TO FURTHER THE FUND'S FUNDRAISING ENDEAVORS ARE ALLOCATED TO PART IX, COLUMN (D) AND THEREFORE, ONLY THE FUND'S ANNUAL CONTRIBUTION ($3,030,000 IN 2022) TO ITS SUPPORTED ORGANIZATION, CALVARY HOSPITAL, IS REPORTED AS A PROGRAM SERVICE EXPENSE. ALL EXPENSES REPORTED IN COLUMN (D) SHOULD, LIKEWISE BE CONSIDERED PROGRAM SERVICE EXPENSES. 3030000 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 0 0 1 10 0 1 12 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANDREW V GRECO 7185182069 1740 EASTCHESTER ROAD BRONX NY 104612069 AL ROKER DIRECTOR 0.50 0.00 X 0 0 0 BONNIE BRENNAN DIRECTOR 0.50 0.00 X 0 0 0 CARLOS M HERNANDEZ CHAIRMAN 1.00 0.50 X X 0 0 0 DANIEL E DONOVAN DIRECTOR 0.50 0.00 X 0 0 0 DANIEL J MCSWIGGAN ESQ DIRECTOR 0.50 0.00 X 0 0 0 DENNIS M SCHNEIDER DIRECTOR 0.50 0.00 X 0 0 0 DIAHN W MCGRATH DIRECTOR 0.50 0.00 X 0 0 0 EDWARD R MORRISSEY DIRECTOR 0.50 0.00 X 0 0 0 EILEEN T NUGENT ESQ VICE-CHAIR 0.50 0.00 X X 0 0 0 JAMES O'HARA DIRECTOR 0.50 0.00 X 0 0 0 JAMES MONAGHAN DIRECTOR 0.50 0.00 X 0 0 0 JOSEPH A TARANTINO DIRECTOR 0.50 1.00 X 0 0 0 JOSEPH DEGLOMINI JR DIRECTOR 0.50 0.00 X 0 0 0 FRANK CALAMARI EX-OFFICIO 0.50 0.00 X 0 788622 34183 MICHAEL J BRESCIA MD EMERITUS DIRECTOR (NON-VOTING) 0.50 0.00 X 0 0 0 MICHAEL JA SMITH DIRECTOR 0.50 0.00 X 0 0 0 OLGA LUZ TIRADO DIRECTOR 0.50 0.00 X 0 0 0 ROBERT E SPATT ESQ DIRECTOR 0.50 0.00 X 0 0 0 STEVEN J GOLUB EMERITUS DIRECTOR (NON-VOTING) 0.50 0.50 X 0 0 0 GERRY TOBIN EMERITUS DIRECTOR (NON-VOTING) 0.50 0.00 X 0 0 0 LOUISE PARENT EMERITUS DIRECTOR (NON-VOTING) 0.50 0.00 X 0 0 0 EMILY YODER JOHNSON DIRECT (AS OF 5/2022) 0.50 0.00 X 0 0 0 TIMOTHY BARR EXEC. VP/TREASURER/SECRETA 37.00 0.00 X 474297 0 58474 ELIZABETH KOUGASIAN DIRECTOR, MAJOR & PLANNED 37.00 0.00 X 166505 0 35221 640802 788622 127878 2 0 1 0 DAVID E MUNSHINE 41 LAUREL DRIVE SPRINGFIELD NJ 07801 FUNDRAISING 344213 THE MINES PRESS INC 231 CROTON AVENUE CORTLANDT MANOR NY 10567 DIRECT MAIL 255792 WHITTIER & ASSOCIATES INC 90 MAIN STREET NO 314 YONKERS NY 10701 FUNDRAISING 199476 EMPIRE CAGING & MAIL SVCS 111 NORTH CENTRAL AVE SUITE 315 HARTSDALE NY 10530 CONSULTING 142856 4 1132110 5443924 367884 6576034 547900 547900 152290 1132110 548400 -396110 -396110 17376 12000 5376 5376 6733200 0 0 157166 3030000 3030000 532771 532771 647003 647003 101948 101948 306288 306288 77490 77490 65075 65075 96096 89782 6314 588689 588689 59650 10320 49330 37380 37380 62400 62400 9590 9590 118 118 19956 19956 DIRECT FUNDRAISING COST 886864 886864 DATABASE SUBSCRIPTION 69009 69009 BANK FEES 52292 52292 MEDIA EXPENSES 23870 23870 76211 21332 54879 6742700 3030000 256200 3456500 231600 370900 2022100 1580800 246900 623900 38960900 32327900 41461500 34903500 1001500 1529200 1256200 1050900 2257700 2580100 X 2031400 319400 37172400 32004000 39203800 32323400 41461500 34903500 X -9500 -7178100 307200 X 0 1 X 1 0 X 7615665 7947480 4941115 4674635 6576034 31754929 7615665 7947480 4941115 4674635 6576034 31754929 4922495 26832434 531100 592300 501000 2927800 547900 5100100 187135 155420 24785 33065 169666 570071 37425100 0.71700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37172400 689200 -5827600 30000 32004000 32313700 1207700 4306000 655000 37172400 27874700 291000 5153700 1005100 600 32313700 21469000 2437000 4978600 1005000 4900 27874700 23007100 274200 -1451100 355000 6200 21469000 0.03088 0.96912 0 0 0 ACCRUED PENSION LIABILITY 1050900 1050900 X -444900 -7178100 -7178100 6733200 0 6733200 7049900 307200 307200 6742700 0 6742700 PART X, LINE 2: THE FUND FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE FUND IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE FUND HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT WAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE FUND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XII, LINE 2D - OTHER ADJUSTMENTS: PENSION RELATED COST ADJUSTMENTS 307,200. X X X 1 RESOURCE AND EVENT MGT 650 FIRST AVE STE 7NW NEW YORK NY 10016 FUNDRAISING CONSULTANT 0 1284400 100000 1184400 WHITTER & ASSOCIATES 90 MAIN STREET NO 314 YONKERS NY 10701 FUNDRAISING CONSULTANT 0 0 199476 -199476 DAVID E MUNSHINE 41 LAUREL DRIVE SPRINGFIELD NJ 07801 FUNDRAISING CONSULTANT 0 0 344213 -344213 1284400 643689 640711 NY ANNUAL DINNER 669440 564400 105040 184878 53000 167584 GOLF OUTING 614960 567710 47250 79017 63921 1284400 1132110 152290 263895 53000 231505 548400 -396110 17376 12000 0 17376 12000 12000 5376 NY 1 0 1 0 1.00000 0 TIMOTHY BARR SUPERVISION OF GAMING ACTIVITIES X 0 FORM 990, SCHEDULE G - GAMING MANAGER EXECUTIVE VICE PRESIDENT, TIMOTHY BARR, OVERSEES CALVARY FUND'S GAMING OPERATIONS AS PART OF HIS OVERALL JOB RESPONSIBILITIES. MR. BARR'S COMPENSATION IS REPORTED IN PART VII OF THE FORM 990; THIS COMPENSATION REPRESENTS PAYMENT FOR THE TOTALITY OF THE SERVICES HE PROVIDES THE FUND AND NOT FOR SUPERVISING GAMING ACTIVITIES. FORM 990, SCHEDULE G, PART II - PROFESSIONAL FUNDRAISERS BOTH WHITTIER & ASSOCIATES AND DAVID E. MUNSHINE (THE MUNSHINE GROUP) ARE FUNDRAISING CONSULTANTS THAT ASSIST THE CALVARY FUND WITH VARIOUS DIFFERENT FUNDRAISING CAMPAIGNS THROUGHOUT THE YEAR. GIVEN THE SCOPE OF THESE CONSULTANTS' FUNDRAISING EFFORTS, THE CALVARY FUND IS UNABLE TO ASSIGN GIFTS RAISED TO ANY SPECIFIC PROJECT AND HAS NOT ASSIGNED A DOLLAR VALUE FOR PURPOSES OF DISCLOSURE IN SCHEDULE G. 1 CALVARY HOSPITAL INC 1740 EASTCHESTER ROAD BRONX NY 10461 131740274 501(C)(3) 3030000 0 SEE PART IV 1 0 PART I, LINE 2: THE CALVARY FUND'S PRIMARY EXEMPT PURPOSE IS TO SUPPORT THE HEALTHCARE MISSION OF CALVARY HOSPITAL, INC. THE FUND HAS BEEN SUPPORTING THE HOSPITAL FOR OVER 30 YEARS; THE AMOUNT REPORTED ON SCHEDULE I REPRESENTS THE FUND'S 2022 CONTRIBUTION TO THE HOSPITAL. X X X X 0 0 0 0 0 0 0 1 0 FRANK CALAMARI EX-OFFICIO 0 536388 0 88159 0 164075 0 21750 0 12433 0 822805 0 0 TIMOTHY BARR EXEC. VP/TREASURER/SECRETA 306918 0 48465 0 118914 0 21750 0 36724 0 532771 0 0 0 ELIZABETH KOUGASIAN DIRECTOR, MAJOR & PLANNED 163616 0 0 0 2889 0 11123 0 24098 0 201726 0 0 0 PART I, LINE 7 THE CALVARY FUND'S COMPENSATION PROCEDURES ALIGN WITH THAT OF ITS PARENT ORGANIZATION, CALVARY HOSPITAL. THE PROCEDURE FOR DETERMINING EXECUTIVE BONUSES IS AS FOLLOWS: CALVARY HOSPITAL ENGAGED THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTING FIRM THAT SPECIALIZES IN HEALTHCARE EXECUTIVE COMPENSATION TO DESIGN ITS EXECUTIVE INCENTIVE COMPENSATION PLAN. AS PART OF THE PLAN, THE CALVARY EXECUTIVE TEAM DEVELOPS A NUMBER OF STRATEGIC GOALS THAT EXECUTIVES MUST MEET TO PARTICIPATE IN THE INCENTIVE PROGRAM; THESE GOALS ARE THEN REVIEWED AND APPROVED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD. AT YEAR END, CALVARY'S CEO PRESENTS THE RESULTS FROM THE PREVIOUS YEAR IN TERMS OF WHICH GOALS WERE ACHIEVED BY THE EXECUTIVE TEAM. THE COMPENSATION COMMITTEE OF THE BOARD THEN CONVENES WITH INDEPENDENT COMPENSATION CONSULTING FIRM TO DETERMINE AND APPROVE THE BONUSES THAT ARE DISTRIBUTED TO EACH EXECUTIVE. JOSEPH DEGLOMINI JR BOARD OF DIRECTOR 347172 LEASING 0 FORM 990, SCHEDULE L, PART IV A FAMILY MEMBER OF BOARD OF DIRECTORS MEMBER, JOSEPH DEGLOMINI, JR., HAS AN OWNERSHIP INTEREST IN AN ORGANIZATION THAT CONDUCTS BUSINESS WITH CALVARY HOSPITAL, INC., A RELATED PARTY OF THE CALVARY FUND. THE HOSPITAL PAID RENT FOR OFFICE SPACE AND PARKING (AS WELL AS UTILITIES) IN THE AMOUNT OF $347,172 IN CALENDAR YEAR 2022. X 5 366204 FMV X TULIP BULBS 6000 1680 COST 0 0 1 PART I, LINE 32B: TO THE EXTENT THAT THE CALVARY FUND RECEIVES GIFTS OF NON-CASH DONATIONS (USUALLY STOCKS), THE FUND AUTHORIZES ITS INVESTMENT BROKER TO SELL THOSE NON-CASH INSTRUMENTS TO BE CONVERTED INTO CASH TO SUPPORT THE FUND'S FUNDRAISING OBJECTIVES. FORM 990, PART VI, SECTION A, LINE 6 PURSUANT TO CALVARY FUND'S BYLAWS, ITS SOLE CORPORATE MEMBER IS CALVARY HOLDING COMPANY, INC. FORM 990, PART VI, SECTION A, LINE 7A THE CALVARY FUND BYLAWS RESERVE CERTAIN RIGHTS TO CALVARY HOLDING COMPANY AS THE SOLE MEMBER. ONE OF THOSE RIGHTS, IN ARTICLE IV, IS THE POWER TO APPOINT AND REMOVE BOARD MEMBERS (AS WELL AS THE CHAIRMAN OF THE BOARD). FORM 990, PART VI, SECTION A, LINE 7B CALVARY FUND IS A FULL PARTICIPATING MEMBER OF CATHOLIC HEALTH CARE SYSTEM, A HEALTH CARE DELIVERY SYSTEM IN NEW YORK STATE. PROVIDENCE HEALTH SERVICES IS THE SOLE MEMBER OF CATHOLIC HEALTH CARE SYSTEM. PROVIDENCE IS THE SPONSOR OF CALVARY FUND AND AS SUCH HAS BEEN RESERVED CERTAIN POWERS IN CALVARY FUND'S BYLAWS, EXERCISED IN CONJUNCTION WITH RECOMMENDATIONS MADE BY CALVARY HOLDING COMPANY (AS SOLE CORPORATE MEMBER). THESE POWERS ARE AS FOLLOWS: 1. RIGHT TO AMEND BYLAWS; 2. RIGHT TO CHANGE CALVARY FUND'S MISSION; 3. RIGHT TO APPROVE ANY MERGER, JOINT VENTURE, OR DISSOLUTION OF THE FUND. 4. APPROVAL WITH RESPECT TO CERTAIN REAL PROPERTY TRANSACTIONS EXCEEDING $400,000 5. APPROVAL OF ANY LEASES EXPECTED TO EXCEED A PERIOD OF 9 YEARS; 6. APPROVAL OF THE FUND ENTERING INTO ANY DEBT INSTRUMENTS IN AN AMOUNT GREATER THAN $400,000 7. APPROVAL ON THE DISPOSITION OF ANY SIGNIFICANT HISTORICAL ARTIFACTS. AS NOTED ABOVE, THE SOLE MEMBER, CALVARY HOLDING COMPANY, HAS BEEN RESERVED THE RIGHT IN CALVARY FUND'S BYLAWS TO MAKE RECOMMENDATIONS TO PROVIDENCE ABOUT ANY OF THE ABOVE ACTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE 2022 FORM 990 OF CALVARY FUND WAS PREPARED BY GRANT THORNTON LLP WITH THE ASSISTANCE OF CALVARY ACCOUNTING PERSONNEL. THE DRAFT OF THE FORM 990 WAS REVIEWED BY GRANT THORNTON LLP, THE DIRECTOR OF FINANCE AND THE CFO OF CALVARY HOSPITAL BEFORE DISTRIBUTION OF THE FULL VERSION OF THE FINAL DRAFT TO THE BOARD. A COPY OF THE FORM 990 DRAFT WAS PROVIDED TO EACH MEMBER OF THE CALVARY FUND BOARD OF DIRECTORS ON OCTOBER 27, 2023 PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE IN ELECTRONIC FORMAT. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER, DIRECTOR, TRUSTEE AND KEY EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR EMPLOYMENT AND POSITION WITH THE CALVARY HOSPITAL, OR CALVARY FUND, CALVARY MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE SUBMITTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 CALVARY FUND, INC. UNDERTAKES A RIGOROUS PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL AND ALL OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS REASONABLE. IN RELEVANT PART, THE BOARD OF DIRECTORS HAS ESTABLISHED A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION ARRANGEMENT. THE BOARD OF DIRECTORS USES AN INDEPENDENT COMPENSATION CONSULTANT TO HELP ADVISE ON THE APPROPRIATE COMPENSATION LEVELS FOR THE AFOREMENTIONED INDIVIDUALS. THAT COMPENSATION CONSULTANT USES COMPARABILITY OR BENCHMARKING DATA (BASED ON INDUSTRY SURVEYS) THAT DOCUMENTS THE COMPENSATION OF PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. ONCE THE COMPENSATION CONSULTANT HAS MADE ITS RECOMMENDATIONS, THE CALVARY FUND COMPENSATION COMMITTEE MUST APPROVE THE COMPENSATION, WITHOUT INPUT OR VOTING PARTICIPATION BY THE PERSON WHOSE COMPENSATION IS BEING APPROVED OR BY ANY OTHER INDIVIDUAL WITH A CONFLICT OF INTEREST. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION, THE DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION, AND THE COMPARABILITY DATA THAT WAS RELIED UPON IMMEDIATELY. FORM 990, PART VI, SECTION C, LINE 19 CALVARY FUND, INC. MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY OF EACH AT THE ADDRESS LISTED ON PAGE 1 OF THIS RETURN. ANY INDIVIDUAL REQUESTING A COPY OF THESE DOCUMENTS IS PROVIDED THAT COPY ON THE SAME BUSINESS DAY. THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. FORM 990, PART XI, LINE 9: PENSION RELATED COST ADJUSTMENTS 307,200. CALVARY HOSPITAL 1740 EASTCHESTER ROAD BRONX NY 10461 131740274 HEALTHCARE NY 501(C)(3) LINE 3 N/A 0 CALVARY HOLDING COMPANY 1740 EASTCHESTER ROAD BRONX NY 10461 061531426 HOLDING COMPANY NY 501(C)(3) LINE 12A, I N/A 0 ARCHCARE 155 EAST 56TH STREET FLOOR 2 NEW YORK NY 10022 133896624 HOME HEALTHCARE NY 501(C)(3) LINE 1 N/A 0 0 1 0 1 0 0 0 0 0 0 1 1 1 1 1 0 0 0 0