2025-11-13T13:54:41+00:00 2024-12-31 135565207 KPMG LLP 515 Broadway 4th Floor Albany NY 12207 990 2024-01-01 133317084 Templeton Foundation TEMP 6075473635 ONE ATWELL ROAD COOPERSTOWN NY 13326 STACI THOMPSON CFO 2025-11-13 true GENEVA FURLANO P01877392 5184274600 2025-11-13 2024 2025-03-06 01:10:19Z STACI THOMPSON ONE ATWELL ROAD COOPERSTOWN NY 13326 7145150 false X N/A X 1984 NY SEE SCHEDULE O 7 6 0 5 0 0 0 7317655 7145150 1394 0 0 0 7319049 7145150 0 0 0 0 0 0 0 0 0 6925320 6888690 6925320 6888690 393729 256460 47856540 48047812 18591234 18379659 29265306 29668153 SEE SCHEDULE O false false 6888690 7145150 THE PRIMARY PURPOSE OF THE FOUNDATION IS TO PROMOTE HEALTHCARE IN OTSEGO, CHENANGO, MADISON, ONEIDA, HERKIMER, FULTON, MONTGOMERY, SCHOHARIE, DELAWARE AND SULLIVAN COUNTIES BY PROVIDING NECESSARY RESIDENTIAL FACILITIES AND OFFICE SPACE TO HOSPITALS AND HEALTHCARE ORGANIZATIONS IN THOSE COUNTIES AND TO MANAGE, MAINTAIN, AND ADMINISTER PROPERTY HELD EXCLUSIVELY FOR CHARITABLE PURPOSES. 6888690 true false false false false false false false false false true false false true true true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false false true false false false false true 0 0 0 false false false false false false false false false false false false X 7 6 false false false false true true true true true false false false true true true true false false false false false false NY X CRAIG FAERBER 6075474800 ONE ATWELL ROAD COOPERSTOWN NY 13326 Andrew Marietta Board Secretary 2.0 2.0 X X 0 0 0 Staci Thompson President 2.0 52.0 X X 0 866810 12117 Douglas B Willies Board Member 2.0 2.0 X 0 0 0 James Patrick Board Member 2.0 2.0 X 0 0 0 Kevin Moore Board Member 2.0 2.0 X 0 0 0 Peter J Hamilton Board Member 2.0 2.0 X 0 0 0 Robert Hanft Board Member 2.0 2.0 X 0 0 0 Craig Faerber Treasurer (As of 12/24) 2.0 56.0 X 0 524460 0 Henry Weil MD Vice President 2.0 42.0 X 0 809687 42289 Jeffrey Morgan Treasurer 2.0 40.0 X 0 610588 6286 Tommy Ibrahim MD Former President 0.0 0.0 X 0 411723 12888 0 3223268 73580 0 true true false 0 0 RENTAL INCOME 531120 7145150 7145150 0 0 0 0 7145150 0 0 0 0 0 0 0 0 0 0 7145150 7145150 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1036395 1036395 0 0 0 0 0 0 0 0 0 0 0 0 0 0 871890 871890 0 0 0 0 0 0 3087501 3087501 0 0 238882 238882 0 0 OTHER EXPENSE 571612 571612 MAINTENANCE 553826 553826 OUTSIDE SERVICES 432603 432603 REAL ESTATE TAXES 95981 95981 0 0 0 0 6888690 6888690 0 0 0 0 0 0 155882 194650 0 0 0 0 13007 80276 93928863 56072065 40300693 37856798 0 0 7386958 9916088 47856540 48047812 48819 192296 17936321 17629658 0 0 606094 557705 18591234 18379659 X 29254356 29657203 10950 10950 29265306 29668153 47856540 48047812 X 256460 0 0 0 0 146387 X false true true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0 7197630 7194400 7231955 7317655 7145150 36086790 0 0 0 7197630 7194400 7231955 7317655 7145150 36086790 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 36086790 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7197630 7194400 7231955 7317655 7145150 36086790 1 1.0 0 0.0 X 0 0 0 0 0 0 3925024 3925024 84395836 52080532 32315304 2308708 1844832 463876 2266980 2146701 120279 1032315 1032315 37856798 NET DUE FROM RELATED PARTIES 8306452 OPERATING LEASE - RIGHT OF USE 538379 INTEREST RATE SWAP 422579 Other Assets 648678 9916088 Federal Income Taxes OPERATING LEASE LIABILITIY 557705 Other Liabilities 557705 X 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote TEMPLETON FOUNDATION IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF BASSETT HEALTHCARE NETWORK ("THE NETWORK"). THE TEXT OF THE ASC 740 FOOTNOTE PROVIDED IN THE CONSOLIDATED FINANCIALS IS AS FOLLOWS: THE NETWORK'S VARIOUS SUBSIDIARIES GENERALLY CONSIST OF NOT-FOR-PROFIT CORPORATIONS ORGANIZED IN ACCORDANCE WITH SECTION 501(C)(3) OF THE IRC AND THEREFORE ARE EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE IRC. THE NETWORK RECOGNIZES INCOME TAX POSITIONS WHEN IT IS MORE-LIKELY THAN-NOT THAT THE POSITION WILL BE SUSTAINABLE BASED ON THE MERITS OF THE POSITION. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO MATERIAL TAX LIABILITIES OR UNCERTAIN TAX POSITIONS THAT NEED TO BE RECORDED. FOR TAXABLE SUBSIDIARIES OR INVESTMENTS, INCLUDING CCE, DEFERRED TAX ASSETS AND LIABILITIES ARE RECOGNIZED FOR THE FUTURE TAX CONSEQUENCES OF TEMPORARY DIFFERENCES BY APPLYING ENACTED STATUTORY TAX RATES APPLICABLE TO FUTURE YEARS FOR THE DIFFERENCES BETWEEN THE CONSOLIDATED FINANCIAL STATEMENTS AND TAX BASIS OF EXISTING ASSETS AND LIABILITIES. SUCH DEFERRED TAX ASSETS AND LIABILITIES WERE NOT MATERIAL AS OF DECEMBER 31, 2024 AND 2023. true false false false false false false false false Tommy Ibrahim MD Former President 0 0 0 0 0 411723 0 12888 0 0 0 424611 0 0 Staci Thompson President 0 826810 0 40000 0 0 0 0 0 12117 0 878927 0 0 Henry Weil MD Vice President 0 735627 0 74060 0 0 0 31206 0 11083 0 851976 0 0 Jeffrey Morgan Treasurer 0 556782 0 53806 0 0 0 0 0 6286 0 616874 0 0 Craig Faerber Treasurer (As of 12/24) 0 524460 0 0 0 0 0 0 0 0 0 524460 0 0 Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION THE MARY IMOGENE BASSETT HOSPITAL (DBA BASSETT MEDICAL CENTER) PROVIDES THE COMPENSATION FOR THE OFFICERS AND DIRECTORS OF THE AFFILIATES, INCLUDING TEMPLETON FOUNDATION. BASSETT MEDICAL CENTER USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION FOR SAID INDIVIDUALS: A) COMPENSATION COMMITTEE, B) INDEPENDENT COMPENSATION CONSULTANT, C) WRITTEN EMPLOYMENT CONTRACT, D) COMPENSATION SURVEY OR STUDY AND, E) APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. THE TRUSTEES OF THE FOUNDATION DO NOT RECEIVE ANY COMPENSATION RELATED TO THEIR SERVICE ON THE BOARD. ANY COMPENSATION REPORTED TO TRUSTEES ON PART VII AND SCHEDULE J IS SOLELY DERIVED FROM THEIR SERVICES PROVIDED AT RELATED ORGANIZATIONS. Schedule J, Part I, Line 4a Severance or change-of-control payment TOMMY IBRAHIM, MD received a severance payment in the amount of $166,325 AND PTO PAYOUT IN THE AMOUNT OF $245,398. This amount is included in the total reported in column B(iii). A 2018A OTSEGO COUNTY CAPITAL RESOURCE CORP 263661593 999999999 2018-11-09 12000000 REFUND OF 2011 ISSUE false false false A 12000000 212311 11787689 true false true true A false false true true false false 0 0 0.0 false false 0 false false A false true true false true true M&T TRUST COMPANY 10.0 false false false 0 false false false A false Schedule K, Part I THE 2018A SERIES OTSEGO COUNTY CAPITAL RESOURCE CORP REFUNDED THE 2011A SERIES OTSEGO COUNTY CAPITAL CORP, WHICH WAS ISSUED DECEMBER 1, 2011. Schedule K, Part IV, Line 2b 2018A SERIES OTSEGO COUNTY CAPITAL RESOURCE CORP THE REBATE EXCEPTION REQUIREMENTS HAVE BEEN MET. Schedule K, Part V TEMPLETON CURRENTLY DOES NOT HAVE WRITTEN PROCEDURES IN PLACE BUT MANAGEMENT REGULARLY REVIEWS THE OBLIGATIONS UNDER TAX-EXEMPT BONDS TO ENSURE THERE IS NO VIOLATIONS OF FEDERAL TAX REQUIREMENTS. OUR GOVERNING BODY IS IN THE PROCESS OF ADOPTING WRITTEN PROCEDURES TO ENSURE COMPLIANCE WITH TAX-EXEMPT BONDS. Form 990, Part I, Line 1 DESCRIPTION OF ORGANIZATION MISSION: TEMPLETON FOUNDATION'S MISSION IS TO PROMOTE HEALTHCARE IN OTSEGO, CHENANGO, MADISON, ONEIDA, HERKIMER, FULTON, MONTGOMERY, SCHOHARIE, DELAWARE, AND SULLIVAN COUNTIES BY PROVIDING NECESSARY RESIDENTIAL FACILITIES AND OFFICE SPACE TO HOSPITALS AND HEALTH CARE ORGANIZATIONS WITHIN THE COUNTY AND TO MANAGE AND ADMINISTER PROPERTY HELD EXCLUSIVELY FOR CHARITABLE PURPOSES. Form 990, Part III, Line 1 DESCRIPTION OF ORGANIZATION MISSION: TEMPLETON FOUNDATION'S MISSION IS TO PROMOTE HEALTHCARE IN OTSEGO, CHENANGO, MADISON, ONEIDA, HERKIMER, FULTON, MONTGOMERY, SCHOHARIE, DELAWARE, AND SULLIVAN COUNTIES BY PROVIDING NECESSARY RESIDENTIAL FACILITIES AND OFFICE SPACE TO HOSPITALS AND HEALTH CARE ORGANIZATIONS WITHIN THE COUNTY AND TO MANAGE AND ADMINISTER PROPERTY HELD EXCLUSIVELY FOR CHARITABLE PURPOSES. Form 990, Part VI, Line 6 Classes of members or stockholders BASSETT HEALTHCARE NETWORK IS THE PARENT AND SOLE MEMBER TO EACH OF THE FOLLOWING RELATED PARTIES. FRIENDS OF BASSETT, AO FOX MEMORIAL HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY, LITTLE FALLS HOSPITAL, O'CONNOR HOSPITAL, TEMPLETON FOUNDATION, VALLEY HEALTH SERVICES, VALLEY RESIDENTIAL SERVICES, AND MARY IMOGENE BASSETT HOSPITAL. AS PARENT AND SOLE MEMBER, BASSETT HEALTHCARE NETWORK HAS THE RIGHT TO APPOINT AND REMOVE MEMBERS OF THE GOVERNING BOARDS OF ITS SUBSIDIARIES AND APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BOARDS, INCLUDING, BUT NOT LIMITED TO, APPROVAL OF OPERATING AND CAPITAL BUDGETS, CERTAIN CAPITAL EXPENDITURES, INDEBTEDNESS NOT CONTAINED IN THE APPROVED BUDGETS, SUBSTANTIVE CHANGES IN CLINICAL PROGRAMS, MERGERS, CONSOLIDATIONS, LIQUIDATIONS AND DISSOLUTIONS INVOLVING ITS SUBSIDIARIES AND CERTIFICATE OF NEED APPLICATIONS. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body SEE DISCLOSURE FOR PART VI, LINE 6 Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders SEE DISCLOSURE FOR PART VI, LINE 6 Form 990, Part VI, Line 11b Review of form 990 by governing body ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE 990S ARE PROVIDED TO THE BOARD BEFORE FILING. IF THERE ARE ANY QUESTIONS OR CONCERNS, THEY CAN RAISE IT WITH THE BOARD, CEO AND/OR CFO. Form 990, Part VI, Line 12c Conflict of interest policy ENFORCEMENT OF CONFLICTS POLICY THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO THE BOARD OF TRUSTEES, INCLUDING ANY COMMITTEES OF THE BOARD, INDIVIDUAL MEMBERS OF THE BOARD, OFFICERS OF THE HOSPITAL (PRESIDENT, COO, CFO), VICE PRESIDENTS, AND ALL DIRECTORS SERVING AS DIRECTORS TEAM MEMBERS. UPON THE COMMENCEMENT OF AN INDIVIDUAL SERVING IN THE ROLES PREVIOUSLY DEFINED, AND THEREAFTER ANNUALLY BY JANUARY 1, A CONFLICT OF INTEREST QUESTIONNAIRE WHICH IS PRESCRIBED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES MUST BE COMPLETED. ALL COMPLETED QUESTIONNAIRES ARE REVIEWED BY THE COMPLIANCE OFFICER OF THE ORGANIZATION. ANY POTENTIAL CONFLICT OF INTEREST WILL BE DISCUSSED WITH THE INDIVIDUAL AND/OR WITH LEGAL COUNSEL. THE COMPLIANCE OFFICER WILL TAKE ACTION TO ELIMINATE THE POTENTIAL CONFLICT OF INTEREST, IF DEEMED APPROPRIATE. AFTER INVESTIGATION, IF IT IS DEEMED THAT THE INDIVIDUAL HAS FAILED TO COMPLY WITH SUCH POLICIES AND DIRECTIVES, APPROPRIATE CORRECTIVE ACTION WILL BE TAKEN. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES MAY DETERMINE WHETHER THE CORRECTIVE ACTION IS SATISFACTORY AND, IF NOT, SHALL REQUIRE FURTHER ACTION. Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS DISCLOSURE EXPLANATION TEMPLETON MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. PARTIES DESIRING TO OBTAIN COPIES OF SUCH MUST PRESENT THEMSELVES AT THE ADMINISTRATIVE OFFICES OF TEMPLETON FOUNDATION OR BY SENDING A SELF-ADDRESSED STAMPED ENVELOPE ALONG WITH PAYMENT FOR COPYING OF THE REQUESTED MATERIAL TO TEMPLETON FOUNDATION ADMINISTRATIVE OFFICES. THE COST OF COPYING SHALL BE EQUAL TO THE COSTS IMPOSED BY THE IRS FOR COPYING OF PUBLIC DOCUMENTS. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN INTEREST RATE SWAP - 146387; Total - 146387; BASSETT HEALTHCARE NETWORK ONE ATWELL ROAD COOPERSTOWN NY 13326 133218680 SUPPORT NY 501(c)(3) Type III-FI NONE false FRIENDS OF BASSETT ONE ATWELL ROAD COOPERSTOWN NY 13326 237041610 FUNDRAISER NY 501(c)(3) 7 BHN false A O FOX MEMORIAL HOSPITAL ONE NORTON AVENUE ONEONTA NY 13820 150539039 HEALTHCARE NY 501(c)(3) 3 BHN false BASSETT HOSPITAL SCHOHARIE COUNTY 178 GRANDVIEW DRIVE COBLESKILL NY 12043 141772971 HEALTHCARE NY 501(c)(3) 3 BHN false LITTLE FALLS HOSPITAL 140 BURWELL STREET LITTLE FALLS NY 13365 150533578 HEALTHCARE NY 501(c)(3) 3 BHN false MARY IMOGENE BASSETT HOSPITAL ONE ATWELL ROAD COOPERSTOWN NY 13326 135596796 HEALTHCARE NY 501(c)(3) 3 BHN false O'CONNOR HOSPITAL 460 ANDES ROAD DELHI NY 13753 161540394 HEALTHCARE NY 501(c)(3) 3 BHN false VALLEY HEALTH SERVICES 690 WEST GERMAN STREET HERKIMER NY 13350 222511614 ELDER CARE NY 501(c)(3) 3 BHN false VALLEY RESIDENTIAL SERVICES 690 WEST GERMAN STREET HERKIMER NY 13350 463703838 ELDER CARE NY 501(c)(3) 10 BHN false BASSETT PPS LLC 618 STATE HIGHWAY 7 ONEONTA NY 13820 811749905 HEALTHCARE NY 501(c)(3) Type I BHN false AT HOME CARE PARTNERS INC 25 ELM STREET ONEONTA NY 13820 562397098 HEALTHCARE NY 501(c)(3) 10 AHC INC false AT HOME CARE INC 25 ELM STREET ONEONTA NY 13820 161287069 HEALTHCARE NY 501(c)(3) 10 BHN false STAMFORD PROFESSIONAL ASSOCIATES 1 NORTON AVE ONEONTA NY 13820 161322304 RENTAL NY NA N/A false false FIRST COMMUNITY CARE OF BASSETT 60 NORTHPOINTE PARKWAY AMHERST NY 14228 161504464 HEALTHCARE NY NA N/A false false CATSKILL CARE ENTERPRISES 1 NORTON AVE ONEONTA NY 13820 161236590 RETAIL PHARMACY NY NA C Corporation false LEATHERSTOCKING PHYSICIANS PC ONE ATWELL ROAD COOPERSTOWN NY 13326 364864562 HEALTHCARE NY NA C Corporation false false false false false false false false false false true false false true false false true false false true