The Valley Foundation FY2020 filing

Tax-deductible

Huntsville, AL501(c)(3)Since 1973EducationEIN 23-7352886

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To gratefully treat all patients and staff with compassion, respect and understanding while providing the highest quality medical care and service available in north alabama. We are dedicated to satisfying the individual needs of our patients through providing easy access to services in a safe and caring environment where everyone feels special. The school of medicine is dedicated to the education of physicians and scientists in all of the disciplines of medicine and biomedical investigation for careers in practice, teaching and research. Necessary to this educational mission is the provision of outstanding medical care and services and the enhancement of new knowledge through clinical and basic biomedical research.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$1.9M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
5 of 5
filings with a surplus
Average surplus $1.9M a year · 15% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.9M
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.7M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 17 voting members
Looks good: 10 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$10.2M
Spent
$9.5M
To programs
99%
Net assets
$11.0M
By yearFY2020–FY2024
Revenue
$10.2M
FY2020
Revenue by fiscal year
FY2020$10.2M
FY2021$12.1M
FY2022$13.9M
FY2023$14.8M
FY2024$15.2M
FY2024$15.9M
Expenses
$9.5M
FY2020
Expenses by fiscal year
FY2020$9.5M
FY2021$10.1M
FY2022$11.6M
FY2023$12.6M
FY2024$12.5M
FY2024$13.3M
Net assets
$11.0M
FY2020
Net assets by fiscal year
FY2020$11.0M
FY2021$14.5M
FY2022$14.9M
FY2023$17.7M
FY2024$22.1M
FY2024$25.1M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Jan 1976.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $9.4M Management & general 1% · $140K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

25 people listed on the 990; $1.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President / CEO
$325,686Pt VII · Sec A
$244,955Pt VII · Sec A
$207,527Pt VII · Sec A
Board Member (as of 10/19)
$182,125Pt VII · Sec A
$168,855Pt VII · Sec A
$157,868Pt VII · Sec A
$156,559Pt VII · Sec A
$151,410Pt VII · Sec A

Mr W Scott Bence’s $384K as Treasurer/Board Secretary is at the 78th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Mr W Scott Bence$383,894$391,581$310,786$350,737$343,509$207,527
Mr Roger Smalligan$360,343$361,638$324,429$318,765$337,559$325,686
Dr Alan Baggett$277,146$275,301$255,622$271,320$292,631$244,955
Dr Tanja Dudenbostel$236,813—————
Dr Steffane Battle$235,021$198,011$209,007———
Dr Marcia Chesebro——$213,568———
Dr John Fanning$204,532—————
Dr Jesse Faulk$191,979$191,997$183,204$198,911——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Valley Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports medical education, training, and research at the University of Alabama at Birmingham.

Provided by the organization

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3 programs · $9.4M · in their own filed words · FY2019
01

Patient care services. Patient encounters this year were 74,746.

$5.9Mprogram expense
02

Support to the university of alabama at birmingham. The valley foundation provides the university of alabama birmingham's huntsville regional medical campus access to patients and medical services to facilitate the clinical training necessary to meet educational requirements for third and fourth year medical students, internal and family…

$3.1Mprogram expense
03

Contracted clinical services provided at a local nursing home, the madison county mental health center, hospice, aletheia house, county jail, huntsville hospital, & thrive alabama.

$411Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2021
Total grants receivedfrom 1 funder$10K
Grants paid · 6 grants · $2.1M · 2019–2024

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$10.2M
Ln 12
Fees for servicesLn 2g$10.0M
Investment incomeLn 3$185K
Money outPt IX
$9.5M
Ln 25
Programscol B$9.4M
Managementcol C$140K
Owns and owesPt X
$11.0M
net assets · Ln 32
Cash and savingsLn 1–2$5.6M
Total assetsLn 16$14.7M
LiabilitiesLn 26$3.7M
PeoplePt VI, VII
25
listed · VII A
PaidVII A11
Voting boardVI 1a17
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$10.0M
Investment incomeLn 3$185K
Gains on assetsLn 7−$160K
Total revenueLn 12$10.2M
Assets in detailPt X, end of year
CashLn 1$611
SavingsLn 2$5.6M
Cash and savings togetherLn 1–2$5.6M
InvestmentsLn 11–13$8.1M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$14.7M
LiabilitiesLn 26$3.7M
Net assetsLn 32$11.0M
OperationsPt I, VI
EmployeesI 536
VolunteersI 611
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 FY20End FY20
Cash and savingsLn 1–2$3.9M$5.6M
InvestmentsLn 11–13$8.2M$8.1M
Land, buildings, equipmentLn 10c$3K$0
Total assetsLn 16$13.3M$14.7M
LiabilitiesLn 26$2.9M$3.7M
Net assetsLn 32$10.4M$11.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$120K$120K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$953K$953K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.1M$3.1M
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$304K$304K
Payroll taxesLn 10$190K$190K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$56K$56K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$11K$11K
Other fees for servicesLn 11g$234K$203K$32K
Advertising and promotionLn 12$6K$5K$2K
Office expensesLn 13$7K$4K$4K
Information technologyLn 14$2K$2K
RoyaltiesLn 15$0
OccupancyLn 16$25K$21K$4K
TravelLn 17$16K$651$15K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$5K$5K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$3K$3K
InsuranceLn 23$123K$118K$5K
Other expenses (24a–d)Ln 24$4.4M$4.4M$10K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$9.5M$9.4M$140K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $15.2M$12.5M$2.6M$22.1M 990 PDF
FY2023 $14.8M$12.6M$2.2M$17.7M 990 PDF
FY2022 $13.9M$11.6M$2.2M$14.9M 990 PDF
FY2021 $12.1M$10.1M$2.0M$14.5M 990 PDF
FY2020 Viewing $10.2M$9.5M$628K$11.0M 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $10,177,445 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,992,884$9,992,884
VIII-3 Investment incomeExcluded from tax $344,946$344,946
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$160,385−$160,385
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $9,992,884 · Excluded from tax $184,561$10,177,445
Part IX · Statement of functional expenses $9,549,838 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $120,000$120,000
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $952,819$952,819
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $3,069,937$3,069,937
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $303,766$303,766
IX-10 Payroll taxesPrograms $189,775$189,775
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $56,070$56,070
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesManagement $10,711$10,711
IX-11g Other fees for servicesPrograms $202,903 · Management $31,528$234,431
IX-12 Advertising and promotionPrograms $4,770 · Management $1,726$6,496
IX-13 Office expensesPrograms $3,778 · Management $3,640$7,418
IX-14 Information technologyManagement $2,271$2,271
IX-15 Royalties$0
IX-16 OccupancyPrograms $21,147 · Management $3,788$24,935
IX-17 TravelPrograms $651 · Management $15,258$15,909
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $4,638$4,638
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $2,917$2,917
IX-23 InsurancePrograms $118,017 · Management $4,732$122,749
IX-24 Other expenses (24a–d)Programs $4,402,181 · Management $9,797$4,411,978
IX-24e All other expensesPrograms $13,018$13,018
IX-25 Total functional expensesPrograms $9,410,317 · Management $139,521 · Fundraising $0$9,549,838
Part X · Balance sheet $14,705,356 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $611$611
X-2 Savings and temporary cash investmentsStart of year $3,879,535$5,631,351
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $1,237,327$985,004
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $2,917$0
X-11 Publicly traded securitiesStart of year $8,179,391$8,088,390
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $13,299,781$14,705,356
X-17 Accounts payable and accrued expensesStart of year $2,903,672$3,009,828
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$654,796
X-26 Total liabilitiesStart of year $2,903,672$3,664,624
X-27 Net assets without donor restrictionsStart of year $10,396,109$11,040,732
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $10,396,109$11,040,732
X-33 Total liabilities and net assetsStart of year $13,299,781$14,705,356
Part XI · Reconciliation of net assets $11,040,732 net assets at year end
XI-1 Total revenue$10,177,445
XI-2 Total expenses$9,549,838
XI-3 Revenue less expenses$627,607
XI-4 Net assets at start of year$10,396,109
XI-5 Net unrealized gains (losses) on investments$17,016
XI-10 Net assets at end of year$11,040,732

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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