Valley Medical Facilities Inc

“Vmf qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code (the "code") and, therefore, is exempt from income tax on related income pursuant to section 501(a) of the code. Vmf does not have any material uncertain positions as of june 30, 2024 and 2023.”

“Board designated assets are unrestricted funds under the control of the board of directors. The majority of these funds are held in the master trust. The remaining funds are in the checking and money market accounts. All interest, realized gains/losses, and unrealized gains/losses associated with these funds remain as board designated funds. Donor restricted specific purpose funds are composed of both temporary and permanently restricted funds. All funds earn interest, realized gains/losses, and unrealized gains/losses. Interest can be restricted by the donor, in which case it remains in the fund. The donor determines the interest classification at the time of the donation. The majority of the funds are held in the master trust with the remainder being in the checking account or money market accounts. Funds held by heritage valley health system foundation for use by heritage valley sewickley: leonard p. And eva m. Aloise memorial fund - the fund is to be used to support nursing staff at heritage valley sewickley for their professional development through the nursing education fund, which supports the nursing education center, heritage valley health system. Cardiology fund -restricted for cardiology/cardiac rehab but otherwise unrestricted. Capital project fund - to be used to fund purchases of items designated through approved heritage valley sewickley capital budget. Covid-19 response fund - restricted for expenses related to covid-19 treatment of patients. Dallas/oliver nursing fund - directed to be used for nurses at heritage valley sewickley. Emergency department fund - for emergency department use to benefit children at medical director's discretion and for funding emergency department program & equipment needs. Equipment fund - restricted for hospital equipment purchases. Irwin s. Terner memorial eye glass fund - restricted to purchase of eyeglasses for those that are unable to pay. Referrals to access this fund must be sent to case management of hvs for evaluation of patient's needs. Opthalmologists on staff provide glasses at cost. Eye surgery equipment fund - equipment needs of eye department. Faith in action fund - established in 2014 from proceeds of annual sewickley 5k run/walk. Restricted proceeds benefit the faith in action program at heritage valley sewickley and sewickley ymca, which provides seniors in the community with rides to doctor appointments and medical treatments. Free care fund (charity care) - to pay for prescription drugs for qualified needy patients to a maximum of $5,000 per year; and to pay for services for qualified needy as assessed by case management. (currently transferring 10% per year for hvs charity care.) thomas r. Havrilla school of radiology scholarship fund - established by brighton radiology associates in memory of their friend and colleague to encourage individuals to pursue careers in radiology & employment at hvhs. Income earned will be used annually to provide financial assistance to the top academic student completing their 1st year of training to assist them with 2nd year tuition costs. Hitchak scholarship - established with $11,000 gift from hitchak family members to endow a scholarship for graduate nursing studies. Marjorie wagner theys scholarship fund - income to be distributed annually for the continuing education of nurses. Maternal and infant child care fund - restricted for use of maternity and infant child care but otherwise unrestricted. E. Thorne mckallip professional nursing development fund - restricted fund income earned to benefit members of hvs nursing staff in their professional development, excluding formal education preparation: * initial nursing certification fee * nursing recertification continuing education credits * fees for local continuing education * out-of-state continuing education (fees, transportation, accomodations) * in-house education. Medical staff scholarship fund - established in 2013. To award annual college scholarships to local residents p”

“Equipment fund - to provide funding for equipment needs for hvb free care fund - to reimburse the hospital for free care provided to patients treated at heritage valley beaver; to assist with prescription drugs for qualified needy patients to a maximum of $5,000 per year or to pay for services for qualified needy as assessed by case management director. Medical staff fund - funds are to be used for patient care purposes only, subject to the medical staff's endorsement. Medical staff scholarship fund - to award annual college scholarships to local residents pursuing a healthcare education. Pediatrics fund - restricted for use of hvb pediatric unit for equipment and programs, including calmer kids program. Oncology fund - to provide funding for equipment and program needs for hvb inpatient oncology, hvb satellite facilities providing oncology services, and oncology services through the university of pittsburgh medical center/heritage valley health system cancer center, beaver campus. Temporarily restricted fund - temporary hold for auxiliary donations until funds used for assigned projects. Orr family education endowment - restricted endowment. Annual income only to be used for hvb nursing and clinical staff for professional development and education. O'leary family education endowment - restricted endowment. Annual income to be used to provide unrestricted support to the heritage valley health system foundation. Permanently restricted endowments - trust to be used exclusively for the rehabilitation of existing facilities, construction of new buildings, providing for special equipment and services and for expenses of deserving patients of hvb. The trust is irrevocable but may be terminated at any time by the donor. Lida mchattie - permanently restricted endowments - heritage valley health system foundation receives 1/6th share of the net income per quarter. Arthur e. Mayer - permanently restricted endowments - established in 1964. Income is unrestricted. Mayer society (oncology) - permanently restricted endowments - cash gift to heritage valley health system foundation's endowment by murray & cecyl thaw. In honor of their children - deborah and robert. Income is restricted to oncology. John "tito and birdie francona memorial fund - established in 2019, interest earned to be used primarily for the cardiology and oncology departments at heritage valley beaver. Orr family endowment fund - income earned by the fund will be used to support the heritage valley beaver hospital, by providing funding for community-based programs or equipment. Funds held by vmf faciliites under control of heritage valley health system foundation: craig family memorial fund - restricted endowment. Income only to be used for staunton clinic. The medical director of the clinic shall propose the use of such funds, and their expenditure will be made in accordance with the usual practices of hvs. William k. Fitch memorial fund - restricted endowment. Annual interest income to be used to encourage, stimulate and aid the governing board of hvs to maintain a position of being ever alert to changing opportunities for contributing to the health of the community served by hvs. Van kleeck blood bank memorial - restricted endowment. Income earned by the fund to benefit hvs blood bank by authorization of the president. Interest & principal invested in vanguard gnma funds with interest earnings reinvested until needed. Principle shall not be expended; however, should some extraordinary need arise in connection with the operation of the blood bank, it is understood that the hospital's board may authorize the expenditure of the principle to meet that need. The following funds are related to the heritage valley health system foundation, but are under the control of various organizations. Hvs has been the recipient of various trusts: 1. Martha lockhart mason trust (bny mellon) 2. Martha lockhart mason trust (pnc bank) 3. Blair e. Bell trust (bny mellon). The three trusts, th”