Organizations Filed Purposes:
TO HOLD TITLE TO PROPERTY, COLLECT INCOME, TO DISTRIBUTE INCOME, LESS EXPENSES TO GRADY MEMORIAL HOSPITAL CORPORATION, AN ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND TO PERFORM ALL OTHER ACTS NECESSARY OR INCIDENTAL TO THE ABOVE AND TO DO WHATEVER IS DEEMED NECESSARY, USEFUL, ADVISABLE, OR CONDUCTIVE, DIRECTLY OR INDIRECTLY, AS DETERMINED BY THE BOARD OF DIRECTORS, TO CARRY OUT THE PURPOSE OF THE CORPORATION, AS SET FORTH IN THESE ARTICLES OF INCORPORATION, INCLUDING THE EXERCISE OF ALL OTHER POWER AND AUTHORITY ENJOYED BY CORPORATION GENERALLY BY VIRTUE OF THE PROVISIONS OF THE GEORGIA NONPROFIT CORPORATION CODE (WITHIN AND SUBJECT TO THE LIMITATIONS OF SECTION 501(C)(2) OF THE INTERNAL REVENUE CODE).
TO HOLD TITLE TO PROPERTY, COLLECT INCOME, AND DISTRIBUTE TO GRADY MEMORIAL HOSPITAL CORPORATION, A 501(C)(3) ORGANIZATION.
On April 8, 2015, Grady Memorial Hospital Corporation (GMHC) entered into a transaction with a bank and certain lenders to obtain financing through the New Markets Tax Credit (NMTC) program sponsored by the U.S. Department of Treasury. The NMTC program permits certain taxpayers to receive a credit against federal income taxes for making qualified equity investments (QEIs) in community development entities (CDEs). Through the Transaction, Grady Health Resources, Inc. (GHR), a wholly-owned subsidiary of GMHC, was formed for the purpose of effecting GMHCs participation in the NMTC program. The U.S. tax credit provided to the investor totals 39 percent of the initial value of the QEI and is claimed over a seven-year credit allowance period.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Timothy Jefferson | Director & Secretary | 1 | $0 |
| Richard Rhine | Director & CFO | 1 | $0 |
| John M Haupert | Director & Chief Exec Officer | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202043219349314249_public.xml