2024-11-14T06:24:31-06:00 2023-12-31 990 2023-01-01 383607110 KENT COMMUNITY HEALTH FOUNDATION KENT 8669897999 100 COREWELL DR NW ATTN TAX MC6 GRAND RAPIDS MI 49503 DANIEL VAN TIMMEREN CHAIR 8669897999 2024-11-13 1 2023 2024-10-15 13:58:12Z X DANIEL VAN TIMMEREN 100 COREWELL DR NW ATTN TAX MC6481 GRAND RAPIDS MI 49503 3519422 0 X N/A X 2001 MI TO SUPPORT THE MISSION AND PROGRAMS OF SPECTRUM HEALTH HOSPITALS. 5 5 0 5 0 0 0 0 0 0 664549 808789 0 0 664549 808789 6137071 8942614 0 0 0 0 0 0 0 44905 37536 6181976 8980150 -5517427 -8171361 21193427 13910264 21193427 13910264 0 0 TO SUPPORT THE MISSION AND PROGRAMS OF SPECTRUM HEALTH HOSPITALS (SHH). SHH PROVIDES HEALTH CARE SERVICES TO ELDERLY AND/OR INDIGENT PATIENTS. 0 0 8942614 8942614 PLEDGE OF SUPPORT TO SPECTRUM HEALTH HOSPITALS, A NONPROFIT HOSPITAL. ANNUAL PAYMENTS OF 5% OF THE AVERAGE FAIR MARKET VALUE OF THE FOUNDATION'S ASSETS BASED ON A THREE YEAR ROLLING AVERAGE ARE TO BE DISBURSED ANNUALLY TO HONOR THE PLEDGE. IN 2023, THE ORGANIZATION MADE THE SECOND PAYMENT ON A MULTIYEAR COMMITMENT TO ASSIST IN CONSTRUCTION OF A NEW BUILDING. 8942614 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 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 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 X CORPORATE TAX 8669897999 100 COREWELL DR NW MC6481 GRAND RAPIDS MI 49503 X MICHAEL ROSLONIEC DIRECTOR/CHAIR 1.00 0.00 X X 0 0 0 DANIEL VAN TIMMEREN DIRECTOR/CHAIR/VICE CHAIR 1.00 0.00 X X 0 0 0 ROBERT DIAMOND DIRECTOR/VICE CHAIR/TREAS/SECY 1.00 0.00 X X 0 0 0 PATRICK GAUGHAN DIRECTOR/TREASURER/SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL MCCASEY DIRECTOR 1.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 328139 328139 3191283 2710633 480650 480650 480650 808789 0 0 808789 8942614 8942614 37536 37536 8980150 8942614 37536 0 8087503 746660 10276351 10490910 2829573 2672694 21193427 13910264 1600342 1350380 19593085 12559884 21193427 13910264 X 0 0 0 0 0 0 0 0 21193427 13910264 X -8171361 908440 7262921 X 0 0 0 X X 1 SPECTRUM HEALTH HOSPITALS 381360529 3 1 8942614 0 1 8942614 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 403693 328139 403693 328139 0 0 44905 37536 0 0 358788 290603 14089681 12892817 12106476 1771468 0 0 26196157 14664285 0 0 0 26196157 14664285 392942 219964 25803215 14444321 903113 505551 0 0 903113 505551 358788 304970 903113 903113 0 903113 8942614 0 0 0 0 0 8942614 8942614 903113 100.000000000000 903113 0 449717 335884 429923 564493 5146757 6926774 0 903113 0 6023661 8942614 0 8942614 0 0 14966275 0 312411 564493 5146757 8942614 PART IV, SECTION D, LINE 2 THE ORGANIZATION'S BOARD OF TRUSTEES ARE SELF-PERPETUATING AND THUS ANY VACANCIES ON THE BOARD OF TRUSTEES ARE FILLED BY THE REMAINING MEMBERS. THE ORGANIZATION MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH ITS SUPPORTED ORGANIZATION THROUGH QUARTERLY BOARD OF TRUSTEE MEETINGS ATTENDED BY THE SUPPORTED ORGANIZATION'S SVP, HOSPITAL AND POST-ACUTE OPERATIONS, CONTROLLER, TREASURY, AND TREASURY MANAGER. PART IV, SECTION D, LINE 3 THE SUPPORTED ORGANIZATION'S SVP, CORPORATE TREASURY OFFICER, AND TREASURY MANAGER PROVIDE SUPPORT AND MANAGEMENT OF THE SUPPORTING ORGANIZATION'S INVESTMENTS. 0 THE WEATHERLOW OFFSHORE FUND I 1369100 F ABS OFFSHORE SPC 1303594 F 2672694 LONG TERM PLEDGE PAYABLE 12559884 12559884 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2672694 0 0 0 0 0 0 2672694 0 2672694 0 0 1 0 0 0 1 SPECTRUM HEALTH HOSPITALS 100 COREWELL DR NW GRAND RAPIDS MI 49503 381360529 501 (C) (3) 8942614 0 SUPPORT OF EXEMPT PURPOSE 1 0 Part I, Line 2: SPECTRUM HEALTH HOSPITALS MUST CERTIFY ANNUALLY TO THE GOVERNING BODY OF FILING ORGANIZATION THAT IT CONTINUES TO PARTICIPATE IN MEDICARE AND MEDICAID PROGRAMS AND SERVES A DISPROPORTIONATELY HIGH NUMBER OF ELDERLY AND INDIGENT PATIENTS. THE USE OF THE GIFT FUNDS IS UNRESTRICTED. Form 990, Part VI, Section A, line 2 FAMILY/BUSINESS RELATIONSHIPS AMONGST INTERESTED PERSONS: ROBERT DIAMOND PATRICK GAUGHAN HAVE A BUSINESS RELATIONSHIP AS THEY SERVE AS AN OFFICER OR DIRECTOR OF BROOKS CAPITAL MANAGEMENT. Form 990, Part VI, Section A, line 8b THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990, Part VI, Section B, line 11b THE FORM 990 IS PREPARED BY COREWELL HEALTH CORPORATE TAX. THE TAX RETURN IS REVIEWED BY THE CORPORATE TAX MANAGER AND THE VP TAX. A COPY OF THE FORM 990 IS THEN PROVIDED TO EACH MEMBER OF THE GOVERNING BODY. ALL QUESTIONS ARE ADDRESSED PRIOR TO FILING THE FORM 990. Form 990, Part VI, Section B, line 12c CONFLICT OF INTEREST POLICY BOARD OF DIRECTORS 1. CONFLICTS OF INTEREST MUST BE DISCLOSED, VIA AN ANNUAL ELECTRONIC DISCLOSURE PROCESS AND VERBALLY AT EACH BOARD AND BOARD COMMITTEE MEETING AS PART OF THE DECLARATION OF CONFLICT OF INTEREST PRIOR TO DISCUSSION OF ANY AGENDA ITEMS. 2. A PERSON HAVING A FINANCIAL INTEREST IN A PROPOSED TRANSACTION OR ARRANGEMENT MAY MAKE A PRESENTATION AT A MEETING OF THE BOARD OR COMMITTEE WHICH IS CONSIDERING THAT TRANSACTION OR ARRANGEMENT, BUT AFTER THAT PRESENTATION HE/SHE SHALL LEAVE THE MEETING BEFORE DISCUSSION AND VOTING ON THAT PROPOSED TRANSACTION OR ARRANGEMENT. THE PERSON HAVING THE FINANCIAL INTEREST SHALL NOT BE COUNTED IN DETERMINING WHETHER A QUORUM IS PRESENT. 3. THE CHAIRPERSON OF THE BOARD OR THE COMMITTEE CHAIR SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE (INCLUDING OUTSIDE ADVISORS) TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND TO ADVISE WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST. 4. THE BOARD OR COMMITTEE SHALL EXERCISE DUE DILIGENCE TO DETERMINE WHETHER THE ORGANIZATION CAN, WITH REASONABLE EFFORTS, OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. 5. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS AND MEMBERS WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE ORGANIZATION, AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. 6. THE MINUTES OF THE MEETINGS OF THE BOARD SHALL SET FORTH: A) THE NAMES OF THE PERSONS WHO DISCLOSED A FINANCIAL INTEREST IN A PROPOSED TRANSACTION OR ARRANGEMENT INVOLVING THE ORGANIZATION AND THE NATURE OF THE FINANCIAL INTEREST; AND B) THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO SUCH TRANSACTION OR ARRANGEMENT, INCLUDING ANY DISCUSSION OF ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THAT MATTER. THE VOTES OF INDIVIDUAL MEMBERS NEED NOT BE RECORDED UNLESS OTHERWISE DIRECTED BY THE BOARD OF DIRECTORS OR COMMITTEE. 7. THERE IS AN ONGOING REQUIREMENT THAT MEMBERS OF THE BOARD UPDATE THEIR ANNUAL DISCLOSURE QUESTIONNAIRE AT ANY POINT DURING HIS/HER TENURE ON THE BOARD OF DIRECTORS WHEN A NEW POTENTIAL CONFLICT OF INTEREST ARISES. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION HAVE BEEN PROVIDED TO THE STATE OF MICHIGAN AND ARE AVAILABLE TO THE PUBLIC ON THE STATE'S WEBSITE. THE ORGANIZATION'S BYLAWS AND INTERNAL POLICIES ARE GENERALLY NOT MADE AVAILABLE TO THE PUBLIC. Form 990, Part XI, line 9: ASB ASC 958-605 - CHANGE IN NET ASSETS OF FOUNDATION 7,262,921. SPECTRUM HEALTH HOSPITALS 100 COREWELL DR NW GRAND RAPIDS MI 49503 381360529 HEALTHCARE MI Line 3 COREWELL HEALTH 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0