2024-11-07T14:45:15-06:00 2023-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2023-01-01 042770996 HOSPICE OF MARTHA'S VINEYARD INC DBA HOSPICE AND PALLIATIVE CARE OF MARTHA'S HOSP 5086930189 455 STATE RD PMB 244 VINEYARD HAVEN MA 02568 CATHY WOZNIAK EXECUTIVE DIRECTOR 5086930189 2024-11-07 1 0 BARBARA E KING P00005629 5087557107 2024-11-06 2023 2024-10-15 13:58:12Z CATHY WOZNIAK 455 STATE RD PMB 244 VINEYARD HAVEN MA 02568 2256799 0 X N/A X 1982 MA PROVIDING HOSPICE CARE SERVICES. 12 12 28 25 0 0 724184 713868 173167 1059579 542734 202596 45982 12041 1486067 1988084 0 0 0 0 1449058 1636715 0 0 245890 511333 599608 1960391 2236323 -474324 -248239 5036544 5606693 70231 409184 4966313 5197509 HOSPICE IS DEDICATED TO PLANNING AND IMPLEMENTING A COMMUNITY BASED CARING PROGRAM TO PERFORM SERVICES RELATED TO THE HEALTH AND HUMAN NEEDS OF THE TERMINALLY ILL AND THEIR FAMILIES. 0 0 1356121 1059579 PROVIDE SERVICE & CARING PROGRAMS FOR THE TERMINALLY ILL AND THEIR FAMILIES. 1356121 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 5 0 1 28 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X CATHY WOZNIAK 5086930189 455 STATE RD PMB 244 VINEYARD HAVEN MA 02568 ALFRED WOOLLACOTT III TREASURER 2.00 X X 0 0 0 SHARON ECKHARDT PRESIDENT 2.00 X X 0 0 0 MICHAEL WERTHEIMER DIRECTOR 2.00 X 0 0 0 JIM BUTTERICK CLERK 2.00 X X 0 0 0 CAROLYN COVERDALE DIRECTOR 1.00 X 0 0 0 DONALD SCHUMACHER DIRECTOR 1.00 X 0 0 0 RISE TERNEY VICE PRESIDENT 1.00 X X 0 0 0 DEBBIE PHILIPS DIRECTOR 1.00 X 0 0 0 NICHOLAS SARNO DIRECTOR 1.00 X 0 0 0 PHYLLIS SEGAL DIRECTOR 1.00 X 0 0 0 DIANNE NICHOLLS DIRECTOR 1.00 X 0 0 0 JANICE CASEY DIRECTOR 1.00 X 0 0 0 CURTIS CETRULO SR DIRECTOR 1.00 X 0 0 0 CATHY WOZNIAK EXECUTIVE DIRECTOR 40.00 X 187440 0 42 MEGHAN L CABRAL NURSE 40.00 X 102360 0 0 SHERI LAMOREAUX DIR. OF DEVELOPMENT 40.00 X 111792 0 11271 CHANTALE PATTERSON CLINICAL DIRECTOR 40.00 X 124178 0 16851 525770 0 28164 4 0 1 0 0 8564 350637 354667 78525 713868 PROGRAM SERVICE FEES 624100 1059579 1059579 1059579 115420 115420 3313 0 3313 3313 3313 213886 126710 87176 87176 87176 150733 350637 142005 8728 8728 1988084 1059579 0 214637 187440 18744 149952 18744 1263307 920168 185137 158002 12352 8027 2840 1485 58128 37586 13438 7104 115488 74743 26675 14070 7003 7003 63375 63375 16814 16814 53900 53900 655 655 147911 55969 76104 15838 85355 50162 23462 11731 12699 11827 872 31531 12612 12612 6307 PATIENT SERVICES 154006 154006 BANK FEES 12609 12609 CONTINUING EDUCATION 9799 9799 TELEPHONE 3951 2478 1473 2236323 1356121 634312 245890 88283 318210 351638 2404 185397 169797 23396 31477 581683 238158 348203 343525 4039627 4489972 0 251308 5036544 5606693 70231 151280 0 257904 70231 409184 X 911596 726688 4054717 4470821 4966313 5197509 5036544 5606693 -248239 479435 0 X 0 0 0 X 560521 502091 731289 724184 713868 3231953 560521 502091 731289 724184 713868 3231953 62987 3168966 369028 -399930 329249 99754 115419 513520 3745473 1232746 0.84610 0.74730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3880588 642637 210000 4313225 6786392 -905804 2000000 3880588 6134796 103403 698193 150000 6786392 5692058 15591 677147 250000 6134796 5272253 21597 658208 260000 5692058 1.00000 0 0 481937 174046 307891 99746 64112 35634 343525 CURRENT LEASE LIABILITIES 47459 LONG TERM LEASE LIABILITIES 210445 257904 2450705 479435 479435 1971270 16814 16814 1988084 2219509 0 2219509 16814 16814 2236323 PART V, LINE 4: HOSPICE'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY HOSPICE TO FUNCTION AS ENDOWMENTS. ON FEBRUARY 18, 2022, THE BOARD REMOVED IT BOARD-DESIGNATED RESTRICTION ON THE TOTAL AMOUNT OF $1.7 MILLION. THE REMOVAL OF THIS DESIGNATION HAS BEEN REFLECTED AS AN EXPENDITURE IN THE ABOVE TABLE. AS OF DECEMBER 31, 2022 ALL ENDOWMENT FUNDS ARE DONOR RESTRICTED. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, HOSPICE CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY HOSPICE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, HOSPICE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF HOSPICE AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF HOSPICE; AND THE INVESTMENT POLICIES OF HOSPICE. HOSPICE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED THE PRICE AND YIELD RESULTS OF THE S&P 500 INDEX FOR EQUITIES, AND MERRILL LYNCH CORPORATE AND GOVERNMENT BOND INDEX FOR INVESTMENT GRADE BONDS; WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. HOSPICE EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 7% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY GIVEN OVERALL MARKET PERFORMANCE AND GLOBAL UNCERTAINTIES. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, HOSPICE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). HOSPICE HAS INVESTED IN A PORTFOLIO THAT TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. IN THE ABSENCE OF ANY DONOR SPECIFIC REQUIREMENT, HOSPICE HAS ADOPTED A TRAILING THREE-YEAR TOTAL RETURN POLICY FOR DISTRIBUTIONS FROM ITS ENDOWMENT FUND, PERMITTING WITHDRAWALS OF UP TO BUT NOT TO EXCEED 5% OF THE AVERAGE VALUE OF THE FUND OVER THE PREVIOUS THREE YEARS. IN ESTABLISHING THIS POLICY, HOSPICE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS TOTAL ENDOWMENT AND A DONOR-IMPOSED 5% LIMIT ON APPROPRIATIONS FROM THE DONOR RESTRICTED ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, HOSPICE EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE OF 3 - 5% ANNUALLY. THIS IS CONSISTENT WITH HOSPICE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR-IMPOSED RESTRICTIONS REQUIRE HOSPICE TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, DEFICIENCIES OF THIS NATURE ARE REPORTED IN NET ASSETS WITH DONOR RESTRICTIONS. THERE WERE NO SUCH DEFICIENCIES AS OF THE BALANCE SHEET DATE. SUMMER SOIREE 351639 259204 92435 53850 17926 35539 GOLF TOURNAMENT 108598 50300 58298 15800 12225 2 41133 41133 6665 501370 350637 150733 69650 17926 54429 142005 8728 1 X 0 0 0 0 0 0 0 0 0 CATHY WOZNIAK EXECUTIVE DIRECTOR 187440 0 0 0 0 0 0 0 42 0 187482 0 0 0 X AUCTION ITEMS 35 69650 X EVENT SUPPLIES 5 8875 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS DISTRIBUTED ELECTRONICALLY TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING. ALL QUESTIONS OR COMMENTS ARE RESOLVED BY THE EXECUTIVE DIRECTOR PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION DISTRIBUTES CONFLICT OF INTEREST QUESTIONNAIRES ANNUALLY TO BOARD MEMBERS. THE COMPLETED QUESTIONNAIRES ARE THEN REVIEWED BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE CEO IS DETERMINED BY THE BOARD OF DIRECTORS USING PUBLISHED SALARY INFORMATION FROM 990'S OF ORGANIZATIONS OF SIMILAR SIZE AS PART OF THE PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ALL AVAILABLE TO THE PUBLIC UPON REQUEST.