Hartford Healthcare Endowment Llc
- Assets
- $2.0b
- Revenue
- $85.6m
- Investments
- $196.0m
- Employees
- 0
- Location
- Hartford, CT
- Founding
- 11/2016
- Data as of
- 09/2023
- EIN
- 45-4181103
Organization Overview
Hartford Healthcare Endowment Llc is located in Hartford, CT. The organization was established in 2016. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hartford Healthcare Endowment Llc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Hartford Healthcare Endowment Llc generated $85.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $14.9m during the year ending 09/2023. While expenses have increased by 17.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION IS ORGANIZED AND OPERATED TO HOLD AND INVEST THE ENDOWMENT FUNDS EXCLUSIVELY FOR CERTAIN CHARITABLE HEALTH CARE ORGANIZATIONS IN THE HARTFORD HEALTHCARE CORPORATION INTEGRATED SYSTEM: WINDHAM COMMUNITY MEMORIAL HOSPITAL, INC., MIDSTATE MEDICAL CENTER, HARTFORD HOSPITAL, THE HOSPITAL OF CENTRAL CONNECTICUT AT NEW BRITAIN GENERAL AND BRADLEY MEMORIAL, THE WILLIAM W. BACKUS HOSPITAL, RUSHFORD CENTER, INC., RUSHFORD FOUNDATION, INC., HARTFORD HEALTHCARE AT HOME, INC., THE CHARLOTTE HUNGERFORD HOSPITAL, HARTFORD HEALTHCARE SENIOR SERVICES INC. AND HARTFORD HEALTHCARE CORPORATION, ALL OF WHICH ARE SECTION 501(C)(3) ORGANIZATIONS UNDER COMMON CONTROL AND RECOGNIZED AS PUBLIC CHARITIES WITHIN THE MEANING OF SECTION 509(A)(1) OR 509(A)(2).
Describe the Organization's Program Activity:
THE FOUNDATION'S SOLE ACTIVITY CONSISTS OF HOLDING POOLED ENDOWMENT FUNDS OF CERTAIN TAX EXEMPT AFFILIATES OF HARTFORD HEALTHCARE CORPORATION (HHC) AND INVESTING SUCH POOLED FUNDS. MORE SPECIFICALLY, THE FOUNDATION'S ACTIVITIES SUPPORTING THESE TAX EXEMPT AFFILIATES CONSISTS OF (A) INVESTING AND MANAGING THE TAX EXEMPT AFFILIATES' ENDOWMENT FUNDS; (B) DISTRIBUTING INCOME EARNED FROM THE ENDOWMENT FUNDS TO THE TAX EXEMPT AFFILIATES; AND (C) POTENTIALLY HOLDING AND MANAGING OTHER ASSETS OWNED BY THE TAX EXEMPT AFFILIATES. THE FOUNDATION DOES NOT RAISE, MANAGE OR INVEST ON BEHALF OF ANY ENTITY OTHER THAN THESE HHC TAX EXEMPT AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Simplex Value Up Master Company Jpy Investment Management | 9/29/23 | $751,000 |
Garda Fixed Income Relative Value Opportunity Fund Ltd Investment Management | 9/29/23 | $569,808 |
Balyasny Atlas Enhanced Fund Ltd Investment Management | 9/29/23 | $418,299 |
Numeric Emerging Markets Investment Management | 9/29/23 | $371,120 |
Ssga Active Emerging Markets Small Cap Investment Management | 9/29/23 | $384,023 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $43,893,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,716,201 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,609,852 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,680,000 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,891,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,809,330,000 |
| Investments—other securities | $196,037,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,005,367,000 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,583,867,000 |
| Net assets with donor restrictions | $421,500,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,005,367,000 |