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St Vincent's Development INC FY2024 filing

Not tax-deductible

Trumbull, CTMutual-benefit / member-servingSince 1985EIN 22-2554128Revenue $2.8M in FY2024

On file with the IRS95 Merritt Blvd, 06611-5435 · Trumbull, CTTax-exempt since Apr 1996

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $297K a year · 10% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.9M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.8M
-15% vs prior year
Spent
$3.6M
Net assets
$22.7M
By yearFY2020–FY2024
Revenue
$2.8M
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.3M
FY2021$3.4M
FY2022$3.4M
FY2023$3.3M
FY2024$2.8M
FY2024$2.7M
Expenses
$3.6M
FY2024▼ -13%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$3.7M
FY2022$3.3M
FY2023$4.1M
FY2024$3.6M
FY2024$3.1M
Net assets
$22.7M
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$24.5M
FY2021$24.2M
FY2022$24.3M
FY2023$23.5M
FY2024$22.7M
FY2024$22.3M

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Michael Daglio
Director (thru 04/2024)
$0Pt VII · Sec A
Thomas Vaccarelli
Director & Secretary
$0Pt VII · Sec A
Carol Wardell
Director & Treasurer
$0Pt VII · Sec A
Fred Sorbo III
Former Dir & Treas (thru 5/22)
$0Pt VII · Sec A
See St Vincent's Development INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages and provides facilities for healthcare services.

Questions for St Vincent's Development INC

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Rental income from managing buildings for and providing facilities to St. Vincent's Health Services Corp and its affiliates.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
St Vincent's Medical Center Foundation INCFY2019$7K
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.8M
Ln 12
Fees for servicesLn 2g$2.7M
Other incomeLn 4–11$30K
Money outPt IX
$3.6M
Ln 25
Owns and owesPt X
$22.7M
net assets · Ln 32
Cash and savingsLn 1–2$300K
Total assetsLn 16$25.6M
LiabilitiesLn 26$2.9M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.7M
Other incomeLn 4–11$30K
Total revenueLn 12$2.8M
Assets in detailPt X, end of year
CashLn 1$300K
Cash and savings togetherLn 1–2$300K
Land, buildings, equipmentLn 10c$21.9M
Other assetsLn 15$3.2M
Total assetsLn 16$25.6M
LiabilitiesLn 26$2.9M
Net assetsLn 32$22.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$300K$300K
Land, buildings, equipmentLn 10c$23.2M$21.9M
Total assetsLn 16$26.6M$25.6M
LiabilitiesLn 26$3.1M$2.9M
Net assetsLn 32$23.5M$22.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$203K
Office expensesLn 13$84K
Information technologyLn 14$159K
OccupancyLn 16$1.2M
Payments to affiliatesLn 21$72K
Depreciation, depletion and amortizationLn 22$1.3M
Other expenses (24a–d)Ln 24$554K
Total functional expensesLn 25$3.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $2.8M$3.6M−$827K$22.7M 990 PDF
FY2023 $3.3M$4.1M−$870K$23.5M 990 PDF
FY2022 $3.4M$3.3M$161K$24.3M 990 PDF
FY2021 $3.4M$3.7M−$295K$24.2M 990 PDF
FY2020 $2.3M$2.0M$346K$24.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,771,627 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,235,566$2,741,472
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $33,745$30,155
I-12 Total revenuePrior year $3,269,311$2,771,627
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,139,438$3,598,288
I-18 Total expensesPrior year $4,139,438$3,598,288
I-19 Revenue less expensesPrior year −$870,127−$826,661
Part VI · Governance 0 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,771,627 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,741,472$2,741,472
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $30,155$30,155
VIII-12 Total revenueRelated to mission $2,741,472 · Unrelated business $0 · Excluded from tax $30,155$2,771,627
Part IX · Statement of functional expenses $3,598,288 across 7 lines filed
IX-11g Other fees for services$203,307
IX-13 Office expenses$84,377
IX-14 Information technology$159,189
IX-16 Occupancy$1,198,402
IX-21 Payments to affiliates$72,238
IX-22 Depreciation, depletion and amortization$1,327,230
IX-24 Other expenses (24a–d)$553,545
IX-25 Total functional expenses$3,598,288
Part X · Balance sheet $25,557,336 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $300,180$300,180
X-4 Accounts receivableStart of year $103,991$157,010
X-9 Prepaid expenses and deferred charges$8,517
X-10c Land, buildings and equipment, netStart of year $23,189,063$21,911,569
X-15 Other assetsStart of year $2,957,697$3,180,060
X-16 Total assetsStart of year $26,550,931$25,557,336
X-17 Accounts payable and accrued expensesStart of year $502,649$676,033
X-25 Other liabilitiesStart of year $2,576,720$2,203,267
X-26 Total liabilitiesStart of year $3,079,369$2,879,300
X-27 Net assets without donor restrictionsStart of year $23,471,562$22,678,036
X-32 Total net assets or fund balancesStart of year $23,471,562$22,678,036
X-33 Total liabilities and net assetsStart of year $26,550,931$25,557,336
Part XI · Reconciliation of net assets $22,678,036 net assets at year end
XI-1 Total revenue$2,771,627
XI-2 Total expenses$3,598,288
XI-3 Revenue less expenses−$826,661
XI-4 Net assets at start of year$23,471,562
XI-9 Other changes in net assets$33,135
XI-10 Net assets at end of year$22,678,036

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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