2025-01-23T11:10:23-06:00 2024-03-31 930743240 HOFFMAN STEWART & SCHMIDT PC 3 CENTERPOINTE DRIVE SUITE 300 LAKE OSWEGO OR 970358663 990 2023-04-01 934401335 VGMHC HOLDINGS INC VGMH 5033598508 PO BOX 6149 ALOHA OR 970070149 ARACELI GAYTAN TREASURER 5033598508 2025-01-21 1 0 TODD D MASSINGER P00075883 5032205900 2023 2024-10-15 13:58:12Z X X ARACELI GAYTAN PO BOX 6149 ALOHA OR 970070149 4518858 0 X WWW.VIRGINIAGARCIA.ORG X 2023 OR VGMHC HOLDINGS, INC. (HOLDINGS) WAS FORMED IN 2024 AS A PUBLIC BENEFIT CORPORATION TO EXCLUSIVELY BENEFIT THE VIRGINIA GARCIA MEMORIAL HEALTH CENTER (THE CENTER). HOLDINGS WAS ESTABLISHED AS PART OF A NEW MARKETS TAX CREDIT (NMTC) TRANSACTION FOR THE CENTER'S NEWBERG WELLNESS CENTER PROJECT.THE NMTC PROGRAM IS A FEDERAL SUBSIDY PROGRAM FOR ECONOMIC DEVELOPMENT OF DEPRESSED AREAS. THE NMTC PROGRAM IS DESIGNED TO STIMULATE THE FLOW OF INVESTMENT CAPITAL INTO UNDERSERVED AREAS BY PROVIDING TAX CREDIT INVESTMENT IN A "LOW INCOME COMMUNITY," WHICH IS CLAIMED OVER A SEVEN YEAR CREDIT COMPLIANCE PERIOD. ON FEBRUARY 8, 2024, THE CENTER CLOSED A NMTC TRANSACTION OF APPROXIMATELY $25.2 MILLION TO DEVELOP ITS NEWBERG WELLNESS CENTER. 5 5 0 5 0 0 4518858 0 0 0 4518858 0 0 0 0 0 7377 7377 4511481 28214483 23703002 4511481 X VGMHC HOLDINGS, INC. (HOLDINGS) WAS FORMED IN 2024 AS A PUBLIC BENEFIT CORPORATION TO EXCLUSIVELY BENEFIT THE CENTER. HOLDINGS WAS ESTABLISHED AS PART OF A NEW MARKETS TAX CREDIT (NMTC) TRANSACTION FOR THE CENTER'S NEWBERGWELLNESS CENTER PROJECT. THE NMTC PROGRAM IS A FEDERAL SUBSIDY PROGRAM FOR ECONOMIC DEVELOPMENT OF DEPRESSED AREAS. THE NMTC PROGRAM IS DESIGNED TO STIMULATE THE FLOW OF INVESTMENT CAPITAL INTO UNDERSERVED AREAS BY PROVIDING TAX CREDIT INVESTMENT IN A "LOW INCOME COMMUNITY," WHICH IS CLAIMED OVER A SEVEN YEAR CREDIT COMPLIANCE PERIOD. ON FEBRUARY 8, 2024, THE CENTER CLOSED A NMTC TRANSACTION OF APPROXIMATELY $25.2 MILLION TO DEVELOP ITS NEWBERG WELLNESS CENTER. 0 0 DURING FYE 2024, HOLDINGS WAS ESTABLISHED AS PART OF A NEW MARKETS TAX CREDIT (NMTC) TRANSACTION FOR VIRGINIA GARICA MEMORIAL HEALTH CENTER'S NEWBERG WELLNESS CENTER PROJECT 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 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 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OR X ARACELI GAYTAN 5033598508 PO BOX 6149 ALOHA OR 970070149 GIL MUNOZ CHAIR 1.00 X X 0 259082 37585 ARACELI GAYTAN TREASURER 1.00 X X 0 246024 28720 AMY PROSENJAK SECRETARY 1.00 X X 0 0 0 GREG VAN PELT MEMBER 1.00 X 0 0 0 JIM ZALESKI MEMBER 1.00 X 0 0 0 0 505106 66305 0 0 1 0 BREMIK CONSTRUCTION INC 1026 SE STARK ST PORTLAND OR 97214 CONSTRUCTION SERVICES 3626804 1 4518858 2792721 4518858 4518858 0 0 0 7377 7377 7377 0 7377 0 18711009 9225510 142615 0 9082895 0 420579 0 28214483 3043002 20660000 0 23703002 X 4511481 0 4511481 0 28214483 4511481 0 X X 0 1 X 1 0 X X 1 VIRGINIA GARCIA MEMORIAL HEALTH CENTER 930717997 7 1 1726137 2792721 1 1726137 2792721 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X 1 1 PART IV SECTION E, LINE 2A VGMHC HOLDINGS WAS FORMED AS A PUBLIC BENEFIT CORPORATION TO EXCLUSIVELY BENEFIT THE CENTER. HOLDINGS WAS ESTABLISHED AS PART OF A NEW MARKET TAX CREDITS (NMTC) TRANSACTION FOR THE EXPANSION OF THE CENTER'S NEWBERG CLINIC. AS SUCH, VGMHC HOLDINGS HOLDS TITLE TO SUBSTANTIALLY ALL OF THE PROPERTY AND EQUIPMENT LOCATED AT THE NEWBERG CLINIC PART IV SECTION E, LINE 2B THE CENTER WAS OPERATING THE NEWBERG CLINIC PRIOR TO THE EXPANSION AND THE FORMATION OF VGMHC HOLDINGS, AND OPERATIONS WOULD HAVE CONTINUED HAD THE NMTC TRANSACTION NOT TAKEN PLACE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 566938 566938 2361021 142615 2218406 6297551 6297551 9082895 X PART X, LINE 2: VGMHC HOLDINGS DOES NOT HAVE ANY TAX POSITION THAT DOES NOT MEET THE MORE LIKELY THAN NOT CRITERIA. ACCORDINGLY, MANAGEMENT HAS NOT RECORDED ANY LIABILITY FOR UNCERTAIN TAX POSITIONS TO THEIR MAJOR TAX JURISDICTIONS. X X 0 0 0 0 0 0 0 0 0 GIL MUNOZ CHAIR 0 259082 0 0 0 0 0 13250 0 24335 0 296667 0 0 ARACELI GAYTAN TREASURER 0 246024 0 0 0 0 0 11072 0 17648 0 274744 0 0 X LAND AND BUILDING, NET OF ACCUMULATED DEPRECIATION 1 2792721 NET BOOK VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER REVIEWS AND APPROVES THE FORM 990. A COPY OF THE APPROVED FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS AT A BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO DISCLOSE POSSIBLE CONFLICTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE CHAIR OF THE BOARD OF THE DIRECTORS PERFORMS A MARKET ANALYSIS OF COMPARABLE POSITIONS IN THE MARKET AND AT OTHER FQHCS. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND POLICIES ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S OVERSIGHT AND SELECTION PROCESS IS CONSISTENT WITH THE RELATED ORGANIZATION, VIRGINIA GARICA MEMORIAL HEALTH CENTER (HEALTH CENTER). THE PROCESS FOR THE HEALTH CENTER HAS NOT CHANGE FROM PRIOR YEAR. VIRGINIA GARCIA MEMORIAL HEALTH CENTER PO BOX 6149 ALOHA OR 970070149 930717997 MEDICAL SERVICES OR 501(C)(3) 170(B)(1)(A)(VI) 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 VIRGINIA GARCIA MEMORIAL HEALTH CENTER C 1726137 AMOUNT CONTRIBUTED VIRGINIA GARCIA MEMORIAL HEALTH CENTER E 20660000 LOAN VALUE, GUARANTEED VIRGINIA GARCIA MEMORIAL HEALTH CENTER S 2792721 NET BOOK VALUE VIRGINIA GARCIA MEMORIAL HEALTH CENTER Q 4571414 AMOUNT PAID