2021-05-17T14:41:28-05:00 2020-06-30 861065772 DELOITTE TAX LLP 50 S 6TH ST SUITE 2800 MINNEAPOLIS MN 554021844 990 2019-07-01 363370216 COPLEY VENTURES INC C/O RUSH COPLEY MEDICAL CENTER COPL 6309786200 2000 OGDEN AVENUE AURORA IL 605044206 BRENDA VAN WYHE CFO CFO 6309786200 2021-05-17 1 KRISTINA RASMUSSEN P00143920 6123974000 2019 2022-09-23 18:48:47Z JOHN DIEDERICH 2000 OGDEN AVENUE AURORA IL 605044206 4682241 0 X WWW.RUSHCOPLEY.COM X 1985 IL TO IMPROVE THE HEALTH OF THE INDIVIDUALS AND DIVERSE COMMUNITIES WE SERVE. 2 0 200 0 3643 0 0 0 5784263 4565422 40 36 -195294 -152892 5589009 4412566 0 0 0 0 2261363 1954278 0 0 0 4040747 3470152 6302110 5424430 -713101 -1011864 29053584 34208193 42151885 48318358 -13098301 -14110165 X TO IMPROVE THE HEALTH OF THE INDIVIDUALS AND DIVERSE COMMUNITIES WE SERVE THROUGH THE INTEGRATION OF OUTSTANDING PATIENT CARE, EDUCATION, RESEARCH AND COMMUNITY PARTNERSHIPS. 0 0 5424430 4561779 COPLEY VENTURES, INC. ("CV") HOLDS TITLE TO PROPERTY FOR RENTAL PURPOSES. CV LEASES AND OPERATES OUTPATIENT CLINICS AND MEDICAL OFFICE BUILDINGS.CV OWNS THE RUSH-COPLEY HEALTHPLEX ("HEALTHPLEX"), WHICH IS A HEALTH AND FITNESS CENTER PROVIDING PREVENTIVE MEDICINE AND WELLNESS EDUCATION TO THE GENERAL PUBLIC. THE HEALTHPLEX OFFERS THE LATEST IN EXERCISE EQUIPMENT AND A STAFF OF NATIONALLY RECOGNIZED, CERTIFIED AND DEGREED PROFESSIONALS. THE HEALTHPLEX IS EQUIPPED WITH A THERAPY POOL AND EXERCISE EQUIPMENT TO REHABILITATE PATIENTS RANGING FROM CARDIAC PATIENTS TO PATIENTS WHO HAVE SPORTS INJURIES. THE HEALTHPLEX OFFERS A WIDE VARIETY OF ACTIVITIES TO MEMBERS OF ALL AGES AND ALL FITNESS LEVELS. THE HEALTHPLEX HAS DEVELOPED WELLNESS PROGRAMS AND SUPPORT GROUPS TO HELP MEMBERS ADJUST BOTH MENTALLY AND PHYSICALLY TO DIFFERENT HEALTH PROBLEMS.THE FOLLOWING IS A SAMPLE OF PROGRAMS OFFERED AT THE HEALTHPLEX: CHILDBIRTH AND PARENTING CLASSES, INCLUDING NUTRITION & EXERCISE DURING PREGNANCY, ARE PROVIDED TO EDUCATE THE COMMUNITY AND MAKE THEM AWARE OF OTHER SERVICES PROVIDED BY THE RUSH COPLEY MEDICAL CENTER, INC. AND AFFILIATED ORGANIZATION.WELLNESS PROGRAMS ENCOURAGE PARTICIPANTS TO IMPROVE THEIR HEALTH THROUGH EDUCATION AND ACTIVITIES. RECENT OFFERINGS INCLUDE: CPR, ARTHRITIS FOUNDATION AQUATIC PROGRAM, FIBROMYALGIA, AQUA MULTIPLE SCLEROSIS WATER EXERCISES, SENIOR CITIZENS GOLDEN HEART CLUB, EXERCISE FOR THE BUSINESS & VACATION TRAVELER, AND INJURY PREVENTION FOR THE ATHLETE.THE HEALTHPLEX HAS ALSO ESTABLISHED YOUTH PROGRAMS TO HELP CHILDREN DEVELOP MOTOR SKILLS, WHILE INTRODUCING THEM TO NUTRITION AND INTERDISCIPLINARY STUDIES. THESE PROGRAMS ENCOURAGE DEVELOPMENT OF PERSONAL, SOCIAL, HEALTH, AND WELLNESS SKILLS THAT WILL LEAD TO LIFE-LONG PHYSICAL ACTIVITY. RECENT OFFERINGS INCLUDE: KIDS CARDIO, KIDS FITNESS CLASS, EXERCISE YOUR HEART, HEALTHY OPPORTUNITIES TOGETHER, YOUTH FITNESS ASSESSMENTS, AND KIDS POWER. 5424430 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 5 0 1 200 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 2 0 1 0 0 0 1 1 1 1 1 0 0 1 0 1 1 0 0 0 IL X BRENDA VAN WYHE 6309786200 2000 OGDEN AVENUE AURORA IL 605044206 JOHN DIEDERICH PRESIDENT & CEO (BEG 11/19)/DIRECTOR 1.00 42.00 X X 0 474489 71940 BARRY FINN PRESIDENT & CEO/DIRECTOR (END 11/19) 1.00 43.00 X X 0 1399755 72094 BRENDA VAN WYHE SR. VP FINANCE & CFO/TREASURER 1.00 42.00 X X 0 389525 51718 RYAN ASMUS VP, GENERAL COUNSEL/SECRETARY 1.00 42.00 X 0 308072 74239 RON JOHNSON DIRECTOR OF OPS/CONTROLLER 40.00 1.00 X 0 119151 36016 JEFFREY NEUMAN HEAD TENNIS PROFESSIONAL 30.00 0.00 X 105566 0 0 105566 2690992 306007 1 0 1 0 IMAGE ONE FACILITY SOLUTIONS 3601 ALGONQUIN RD STE 100 ROLLING MEADOWS IL 60008 HOUSEKEEPING SERVICES 254000 EDWARDS ENGINEERING 1000 TOUY AVE ELK GROVE VILLAGE IL 60007 ENGINEERING 122878 2 HEALTHPLEX REVENUE 713940 3187346 3183703 3643 AFFILIATE RENTAL REV. 531120 1378076 1378076 4565422 36 36 116783 269675 -152892 -152892 -152892 4412566 4561779 3643 -152856 1718389 1718389 235889 235889 1504 1504 155381 155381 2095788 2095788 3838 3838 69515 69515 542218 542218 40000 40000 PURCHASED SERVICES 408862 408862 OTHER OPERATING EXPENSE 77941 77941 BANK CHARGES 74660 74660 EMPLOYEE RELATIONS 445 445 5424430 5424430 0 0 60730 39878 50003 50002 98773 -28055 7846 5894 5717738 10024146 39279424 16919511 23118494 22359913 0 1756415 29053584 34208193 930926 1606624 2005639 981291 39215320 45730443 42151885 48318358 X -13098301 -14110165 -13098301 -14110165 29053584 34208193 -1011864 0 X X 0 1 X 1 0 X SECTION A, PART I, PUBLIC CHARITY STATUS: COPLEY VENTURES, INC. IS EXEMPT AS A HOSPITAL UNDER INTERNAL REVENUE CODE SECTION 170(B)(1)(A)(III); HOWEVER, IT IS NOT A HOSPITAL AS DEFINED BY FORM 990, SCHEDULE H INSTRUCTIONS. 8796177 8796177 15528962 7691040 7837922 3176236 2106438 1069798 2076956 1838679 238277 9701093 5283354 4417739 22359913 RIGHT OF USE ASSET 1756415 1756415 DUE TO AFFILIATES 44697743 LONG TERM DEFERRED RENT OBLIGATION 1032700 45730443 1 1 0 0 0 0 0 0 0 JOHN DIEDERICH PRESIDENT & CEO (BEG 11/19)/DIRECTOR 0 472077 0 0 0 2412 0 40200 0 31740 0 546429 0 0 BARRY FINN PRESIDENT & CEO/DIRECTOR (END 11/19) 0 697817 0 0 0 701938 0 43000 0 29094 0 1471849 0 0 BRENDA VAN WYHE SR. VP FINANCE & CFO/TREASURER 0 384495 0 0 0 5030 0 27750 0 23968 0 441243 0 0 RYAN ASMUS VP, GENERAL COUNSEL/SECRETARY 0 304037 0 0 0 4035 0 44000 0 30239 0 382311 0 0 RON JOHNSON DIRECTOR OF OPS/CONTROLLER 0 109574 0 3300 0 6277 0 25000 0 11016 0 155167 0 0 PART I, LINE 3 COPLEY MEMORIAL HOSPITAL, A RELATED ORGANIZATION OF COPLEY VENTURES, USED THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. PART I, LINE 4A: BARRY FINN RECEIVED A SEVERANCE PAYMENT OF $39,220 IN 2019. PART I, LINE 4B: CMH OFFERS A SUPPLEMENTAL RETIREMENT PLAN TO CERTAIN EMPLOYEES WHO PARTICIPATE IN THE EXECUTIVE BENEFITS PROGRAM. THERE IS NO CONSTRUCTIVE RECEIPT OF THESE AMOUNTS BY THE INDIVIDUALS UNTIL THEY ARE PAID OUT AS THEY ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL INDIVIDUALS MEET THE REQUIRED VESTING PERIOD. ONCE VESTED, PAYOUTS WOULD BE INCLUDED AS REPORTABLE COMPENSATION ON THE RECIPIENTS ANNUAL FORM W-2. BARRY FINN RECEIVED PAYMENTS IN 2019 OF $618,988. PART III: VOLUNTARY LEADERSHIP PAY REDUCTIONS IN AN EFFORT TO PRESERVE RUSH'S FINANCIAL VIABILITY AMID THE UNPARALLELED FINANCIAL CHALLENGES RESULTING FROM THE SIGNIFICANT REDUCTION OF NON-EMERGENT SURGERY AND THE COSTS OF HANDLING THE COVID-19 PANDEMIC, RUSH TOOK A MEASURED AND BALANCED APPROACH IN IMPLEMENTING COST CONTAINMENT INITIATIVES AND SOLUTIONS ACROSS THE SYSTEM. IN APRIL OF 2020, SOME OF THE LEADERSHIP OF THE RUSH COPLEY MEDICAL CENTER TOOK VOLUNTARY PAY REDUCTIONS. FORM 990, PART VI, SECTION A, LINE 2 MANY OF THE PERSONS LISTED ON PART VII HAVE A "BUSINESS RELATIONSHIP" WITH EACH OTHER BY VIRTUE OF THEIR EMPLOYMENT AND/OR SITTING ON RELATED RUSH COPLEY MEDICAL CENTER ENTITY BOARDS. FORM 990, PART VI, SECTION A, LINE 6 RUSH COPLEY MEDICAL CENTER, INC. ("RCMC") IS THE SOLE CORPORATE MEMBER OF COPLEY MEMORIAL HOSPITAL, INC. ("CMH"), RUSH COPLEY MEDICAL GROUP, NFP ("RCMG"), COPLEY VENTURES, INC. ("CV"), AND RUSH COPLEY FOUNDATION ("RCF"). FORM 990, PART VI, SECTION A, LINE 7A COPLEY VENTURES, INC.'S BOARD OF DIRECTORS ARE ELECTED BY THE GOVERNING BOARD OF COPLEY VENTURES, INC.'S SOLE CORPORATE MEMBER, RUSH COPLEY MEDICAL CENTER, INC., AT THE ANNUAL MEETING OF THE GOVERNING BOARD OF RUSH COPLEY MEDICAL CENTER, INC. FORM 990, PART VI, SECTION A, LINE 7B THE PRESIDENT OF COPLEY VENTURES, INC. IS THE CEO OF COPLEY VENTURES, INC.'S SOLE CORPORATE MEMBER, RUSH COPLEY MEDICAL CENTER, INC., AND HAS THE NECESSARY AUTHORITY AND RESPONSIBILITY FOR THE ADMINISTRATION OF THE AFFAIRS OF COPLEY VENTURES, INC. ANY REPEAL OR AMENDMENTS TO THE BYLAWS OR THE ARTICLES OF INCORPORATION OF COPLEY VENTURES, INC. REQUIRES APPROVAL OF COPLEY VENTURES, INC.'S SOLE CORPORATE MEMBER, RUSH COPLEY MEDICAL CENTER, INC. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY OUR EXTERNAL TAX ADVISOR WITH DATA PROVIDED BY OUR ORGANIZATION. A DRAFT OF THE FORM 990 IS PROVIDED TO MANAGEMENT FOR REVIEW AND COMMENT. THE BOARD OF DIRECTORS IS PROVIDED WITH AN APPROVED COPY OF THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12 ANNUALLY, OFFICERS AND DIRECTORS OF COPLEY VENTURES ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THE CONFLICT OF INTEREST STATEMENTS ARE SUBMITTED AND REVIEWED BY THE CHIEF COMPLIANCE OFFICER AND THE AUDIT AND CORPORATE INTEGRITY COMMITTEE OF THE BOARD. THOSE KEY PERSONNEL WITH CONFLICTS ARE ADVISED TO RECUSE THEMSELVES FROM PARTICIPATING IN DECISION MAKING RELATED TO THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE CEO/VPS OF THE ORGANIZATION AND KEY SENIOR MANAGEMENT ARE COMPENSATED BY COPLEY MEMORIAL HOSPITAL. COPLEY MEMORIAL HOSPITAL FOLLOWS A COMPENSATION APPROVAL PROCEDURE ANNUALLY THAT INVOLVES APPROVAL OF PROPOSED AND FINAL COMPENSATION ARRANGEMENTS BY ITS COMPENSATION COMMITTEE AND FULL BOARD OF DIRECTORS USING COMPARABILITY DATA, AS WELL AS CONTEMPORANEOUS DOCUMENTATION OF COMPENSATION DECISIONS IN MINUTES. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS AVAILABLE UPON REQUEST. THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. COPIES OF THE FINANCIAL STATEMENTS (WHETHER OR NOT AUDITED) ARE PROVIDED UPON REASONABLE REQUEST SUCH AS FOR A BANK LOAN OR TO A BOND RATING AGENCY. FORM 990, PART XII, LINE 2A&B ALTHOUGH THE ORGANIZATION DOES NOT RECEIVE STAND ALONE GAAP FINANCIAL STATEMENTS IT DOES RECEIVE ON AN ANNUAL BASIS FROM INDEPENDENT AUDITORS CONSOLIDATED ENTITY GAAP FINANCIAL STATEMENTS (AUDITED) FOR ITSELF AND ITS AFFILIATES. 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