2024-08-15T13:49:05-05:00 2023-09-30 111986323 MARCUM LLP 53 STATE STREET BOSTON MA 02109 990PF 2022-10-01 222546079 LEGACY ECHN INC LEGA 8606461222 100 WESTERN BOULEVARD GLASTONBURY CT 06033 ROBERT A SCHWARTZ MD PRESIDENT 8606461222 2024-08-15 1 0 DOUGLAS FARRINGTON P00370668 6178075000 2024-08-15 2022 2024-08-08 14:25:15Z X X 14302173 X 98838 100825 315000 100825 199663 100825 0 0 0 0 0 957484 0 0 957484 23700 0 0 0 4474 0 0 0 55931 0 0 0 1041589 0 0 957484 0 0 1041589 0 0 957484 -841926 100825 0 7898369 7288521 7288521 20621 16838 16838 3040034 3298174 3298174 3885268 3698640 3698640 14844292 14302173 14302173 99914 79499 610898 610898 710812 690397 X 11155529 10313603 2977951 3298173 14133480 13611776 14844292 14302173 14133480 -841926 320222 13611776 0 13611776 P 2020-09-30 2023-08-10 315000 214175 100825 100825 100825 1401 0 1401 0 1401 0 0 0 0 0 79 1480 0 0 0 0 0 0 0 0 0 0 0 1 CT 1 0 0 0 0 1 N/A MICHAEL THURZ 8604302017 100 WESTERN BOULEVARD MANCHESTER CT 06033 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ROBERT A SCHWARTZ MD 100 WESTERN BOULEVARD GLASTONBURY CT 06033 PRESIDENT 1.00 0 0 0 THOMAS F SCANLON 100 WESTERN BOULEVARD GLASTONBURY CT 06033 TREASURER 1.00 0 0 0 MICHELE R BLEZARD 100 WESTERN BOULEVARD GLASTONBURY CT 06033 SECRETARY 1.00 0 0 0 NONE 0 WIGGIN AND DANA LLP 265 CHURCH STREET PO BOX 1832 NEW HAVEN CT 06508 LEGAL SERVICES 957484 0 0 0 7346527 7013652 14360179 0 0 14360179 215403 14144776 707239 707239 1401 1401 705838 0 705838 0 705838 957484 0 957484 705838 0 0 0 957484 0 0 0 705838 251646 0 0 251646 0 0 0 0 0 0 0 251646 251646 X 0 0 18 100825 0 100825 0 100825 0 0 0 0 0 0 0 0 0 0 X X 1 WILLIAM E BARTON TRUST 99 FOUNDERS PLAZA EAST HARTFORD CT 06108 53279 X 2 MARY BARTON TRUST 99 FOUNDERS PLAZA EAST HARTFORD CT 06108 45559 X ACCOUNTING FEES 23700 0 0 0 PART I - LINE 16A AND PART XI - QUALIFYING DISTRIBUTIONS, LINE 1A TREATMENT OF LEGAL FEES AS QUALIFYING DISTRIBUTIONS:THE ORGANIZATION PAID LEGAL FEES THAT WERE REASONABLE AND NECESSARY TO FURTHER THE ORGANIZATION'S CHARITABLE PURPOSES AND TO PRESERVE AND PROTECT ITS CHARITABLE ASSETS IN LITIGATION FROM CLAIMS AND LIABILITIES RELATED TO THE SALE OF ITS ASSETS TO A FOR-PROFIT ENTITY. THE ORGANIZATION IS THE PARENT AND SUPPORTING ORGANIZATION OF A HOSPITAL SYSTEM THAT SOLD ITS ASSETS TO A FOR-PROFIT PURCHASER IN 2016. AFTER THE SALE, THE FOR-PROFIT PURCHASER ASSERTED THAT UNDER THE ASSET PURCHASE AGREEMENT IT WAS ENTITLED TO RECEIVE ROUGHLY $10,000,000 OF A CHARITABLE BEQUEST TO ONE OF THE SYSTEM'S HOSPITALS, AND IT SUED THE ORGANIZATION DEMANDING PAYMENT OF THE BEQUEST. AFTER A TRIAL CONDUCTED DURING THIS TAX YEAR, THE COURT ISSUED A DECISION FINDING IN FAVOR OF THE ORGANIZATION AND HOLDING THAT THE ORGANIZATION HAD THE RIGHT TO RETAIN THE BEQUEST. THE FOR-PROFIT PURCHASER HAS APPEALED THAT DECISION, AND THAT APPEAL IS PENDING. IN ADDITION, THE ORGANIZATION SEPARATELY SUED THE FOR-PROFIT PURCHASER SEEKING PROTECTION FROM NEARLY $10,000,000 IN IMPOSED AND THREATENED PENALTIES BY THE IRS AND THE RECOVERY OF ASSOCIATED LEGAL AND OTHER PROFESSIONAL SERVICE FEES ARISING FROM THE FOR-PROFIT ENTITY'S "WILLFUL DISREGARD" OF IRS NOTICES WHILE PROVIDING REQUIRED POST-CLOSING SERVICES TO THE ORGANIZATION, INCLUDING THE FILING OF ITS TAX RETURNS. THIS CASE HAS BEEN TRIED AS WELL, BUT HAS NOT YET BEEN DECIDED. IN ADDITION TO THE LEGAL EXPENSES RELATED TO THE TWO MAJOR PIECES OF LITIGATION, THE ORGANIZATION PAID OTHER LEGAL EXPENSES ASSOCIATED WITH ITS RESPONSIBILITIES TO MANAGE AND CONTINUE ITS WIND-DOWN OF THE ORGANIZATION, INCLUDING EXPENSES FOR LEGAL SERVICES FOR PARTICIPATION IN PROBATE COURT PROCEEDINGS FOR TESTAMENTARY CHARITABLE GIFTS AND FOR SELLING REAL ESTATE. ALL LEGAL FEES WERE CHARGED AT REDUCED HOURLY RATES SUBSTANTIALLY LESS THAN THOSE CHARGED TO THE GENERAL PUBLIC. CONSISTENT WITH REVENUE RULING 75-495 AND ITS PROGENY, THESE LEGAL FEES ARE QUALIFYING DISTRIBUTIONS BECAUSE THEY WERE BOTH REASONABLE AND NECESSARY TO ACCOMPLISH AN EXEMPT PURPOSE. INVESTMENT AT COST 3298174 3298174 LEGAL FEES 957484 0 0 957484 ESTIMATED SETTLEMENTS DUE FROM THIRD-PARTY PAYERS 1837022 1837022 1837022 DUE FROM PROSPECT ECHN, INC. 1861618 1861618 1861618 319 BROAD STREET 186628 EQUIPMENT RENTAL AND MAINTENANCE 1532 0 0 0 INSURANCE 48627 0 0 0 POSTAGE AND MAILING SERVICE 314 0 0 0 UTILITIES 5458 0 0 0 UNREALISED GAINS (LOSSES) 258139 PRIOR YEAR ADJUSTMENT 62083 ESTIMATED SETTLEMENTS DUE TO THIRD PARTY PAYERS 610898 610898 CONSULTING EES 4474 0 0 0