2025-05-14T17:02:48-05:00 2024-12-31 135565207 KPMG LLP 515 BROADWAY 4TH FLOOR ALBANY NY 12207 990EZ 2024-01-01 222607657 VALLEY HEALTH DEVELOPMENT CORPORATION VALL 3158663330 690 WEST GERMAN STREET HERKIMER NY 13350 LISA BETRUS PRESIDENT 3158663330 2025-05-14 1 0 GENEVA FURLANO P01877392 5184274600 2025-05-14 2024 2025-03-06 01:10:19Z X X X X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X PRIOR TO 2023, VALLEY HEALTH DEVELOPMENT CORPORATION ISSUED TAX EXEMPT MORTGAGE REVENUE BONDS AND HELD A MORTGAGE NOTE FROM VALLEY HEALTH SERVICES, INC., A NOT-FOR-PROFIT RESIDENTIAL HEALTH CARE FACILITY. IN SEPTEMBER 2000, VALLEY HEALTH DEVELOPMENT CORPORATION ISSUED $8,795,000 IN TAX EXEMPT MORTGAGE REVENUE REFUNDING BONDS TO REFINANCE VALLEY HEALTH SERVICES', INC. EXISTING DEBT. VALLEY HEALTH DEVELOPMENT CORPORATION ADMINISTERED THE BOND PAYMENTS THROUGH THE BANK OF NEW YORK MELLON -NEW ALBANY, OHIO. IN 1985, VALLEY HEALTH DEVELOPMENT CORP. ISSUED $7,395,000 SERIES 1985 MORTGAGE REVENUE BONDS FOR THE RENOVATION AND CONSTRUCTION OF VALLEY HEALTH SERVICES, INC., THE SUCCESSOR ORGANIZATION TO HERKIMER MEMORIAL HOSPITAL. IN DECEMBER 1990, VALLEY HEALTH DEVELOPMENT CORP. ISSUED $2,675,000 SERIES 1990 A AND $100,000 SERIES 1990 B MORTGAGE REVENUE BONDS TO FINANCE VALLEY HEALTH SERVICES' EXPANSION PROJECT WHICH INCLUDED THE ADDITION OF 32 BEDS AND AN ADULT DAY HEALTH CARE PROGRAM. TODAY, VALLEY HEALTH SERVICES, INC. IS A 160 BED FACILITY OFFERING SKILLED NURSING LONG TERM CARE, SHORT TERM INPATIENT REHABILITATION AND SUBACUTE CARE, PALLIATIVE CARE, OUTPATIENT REHABILITATION AND MEDICAL MODEL ADULT DAY HEALTH CARE SERVICES TO THE RESIDENTS OF HERKIMER AND THE SURROUNDING COMMUNITIES. A MAJORITY OF VALLEY HEALTH SERVICES' REVENUE IS PROVIDED BY MEDICAID FUNDING. ANNUALLY, VALLEY HEALTH DEVELOPMENT CORP. ADMINISTERS THE BOND PAYMENTS THROUGH THE BANK OF NEW YORK MELLON. THE INCOME GENERATED EACH YEAR BY VALLEY HEALTH DEVELOPMENT CORP. INVESTMENTS IS UTILIZED TO PAY OUT SEMI ANNUAL INTEREST TO BOND HOLDERS, PERIODIC TRUSTEE AND MAINTENANCE FEES. IN 2023, THE LOAN WAS BEEN PAID OFF AND THE BONDS HAVE ALL BEEN SATISFIED. THE FUND BALANCE AND THE INVESTMENTS ARE ZERO, THE BONDS WERE PAID OFF, AND ANY RESIDUAL WAS PAID BACK TO VHS. VALLEY HEALTH DEVELOPMENT CORPORATION WAS NOT DISSOLVED AND REMAINS OPEN AS IT IS A SUPPORTING ORGANIZATION AND BECAUSE THERE IS A POSSIBILITY THAT ANOTHER HUD LOAN MAY BE SECURED IN THE FUTURE TO BE USED FOR FUTURE BONDING NEEDS. 0 0 0 LISA BETRUS PRESIDENT 40.00 518868 0 26764 JOHN MILITELLO SECRETARY 0.00 0 0 0 ROBERT BASLOE TREASURER 0.00 0 0 0 X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NY VALLEY HEALTH SERVICES 690 WEST GERMAN STREET HERKIMER NY 13350 3158663330 0 0 0 0 0 0 0 0 0 0 NONE NONE 1 X X 1 VALLEY HEALTH SERVICES INC 222511614 10 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE A, PART IV, SECTION A, Q1: VHDC HAS A HISTORIC AND CONTINUING RELATIONSHIP WITH VALLEY HEALTH SERVICES, INC. ITS SUPPORTED ORGANIZATION. VHDC'S PURPOSE AS STATED IN ITS BYLAWS WAS TO FINANCE A RESIDENTIAL HEALTH CARE FACILITY AND SUCH ANCILLARY SERVICES. VHDC WAS CREATED FOR THE SOLE PURPOSE OF PROVIDING FINANCING FOR VALLEY HEALTH SERVICES, INC., A NON-PROFIT RESIDENTAL HEALTH CARE FACILITY IN HERKIMER, NY. IN APRIL 1985, VHDC ISSUED $7,395,000 SERIES 1985 MORTGAGE REVENUE BONDS FOR THE RENOVATION AND CONTRUCTION OF VALLEY HEALTH SERVICES, INC., THE SUCCESSOR ORGANIZATION TO HERKIMER HOSPITAL. SCHEDULE A, PART IV, SECTION C, Q1: THE TREASURER AND SECRETARY OF THE VHDC BOARD OF TRUSTEES ARE BOARD MEMBERS OF THE VALLEY HEALTH SERVICES, INC. BOARD. ADDITIONALLY, THE PRESIDENT OF THE VHDC BOARD OF TRUSTEES IS THE PRESIDENT OF VALLEY HEALTH SERVICES, INC. THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.