2025-11-13T13:57:46+00:00 2024-12-31 135565207 KPMG LLP 515 Broadway 4th Floor Albany NY 12207 990 2024-01-01 463703838 Valley Residential Services Inc VALL 3158663330 CO VHS INC 690 W GERMAN STREET HERKIMER NY 13350 MICHAEL R TREEN CFO 3158663330 2025-11-13 true GENEVA FURLANO P01877392 5184274600 2025-11-13 2024 2025-03-06 01:10:19Z CONNIE A JASTREMSKI 690 W GERMAN ST HERKIMER NY 13350 3272881 false X WWW.VALLEYHEALTHSERVICES.ORG X 2013 NY (SEE ON SCHEDULE O) 15 15 61 15 0 8208 156365 2708335 3116516 0 55558 0 2772101 3272881 0 0 1928425 2046677 0 0 1462288 1480431 3390713 3527108 -618612 -254227 8829527 8620675 6262914 6308289 2566613 2312386 TO PROVIDE A SUPPORTIVE LIVING ENVIRONMENT FOR SENIORS, ENSURING A COMFORTABLE LIFE-ENRICHING ATMOSPHERE AND ASSISTANCE WITH DAILY NEEDS, WHILE PROMOTING DIGNITY, PRIVACY AND INDEPENDENCE. false false 3242011 3116516 VALLEY RESIDENTIAL SERVICES, INC. (THE FACILITY) IS A 76-BED NOT-FOR-PROFIT ENRICHED HOUSING FACILITY LOCATED IN HERKIMER, NEW YORK. THE FACILITY OFFER RESIDENTS THE INDEPENDENCE OF APARTMENT LIVING, WITH THE CONVENIENCE OF ASSISTED LIVING. RESIDENTS HAVE ACCESS TO SKILLED STAFF MEMBERS AND NURSES THAT PROVIDE MEDICATION MANAGEMENT, ASSISTANCE IN THE HEALTH CENTER, AND READILY AVAILABLE CARE AND TRANSPORTATION IN THE INSTANCE OF AN EMERGENCY. RESIDENTS OF LIMITED MEANS WHO QUALIFY FOR MEDICAID HAVE ACCESS TO THE FACILITY'S ASSISTED LIVING SERVICES THROUGH ITS NYS ASSISTED LIVING PROGRAM (ALP). THE FACILITY WAS INCORPORATED IN SEPTEMBER 2013 AND OPENED TO THE PUBLIC IN THE SPRING OF 2015 WITH 48 BEDS. THE FACILITY COMPLETED CONSTRUCTION ON A 12,107-SQUARE FOOT EXPANSION WHICH INCLUDED 12 ONE BEDROOM APARTMENTS, 2 ONE BEDROOM APARTMENTS WITH A DEN AND 1.5 BATHS, ALONG WITH A NEW WELLNESS AND FITNESS CENTER IN DECEMBER 2018. 3242011 true true false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false false false true 7 0 true 61 true false false false false false false false false false false false false X 15 15 false false false false true true true true true false false false true true true true true true true true false false NY X MICHAEL R TREEN CFO 3158663330 690 W GERMAN STREET HERKIMER NY 13350 Connie A Jastremski Chair 2.0 2.0 X X 0 0 0 John P Militello Vice Chair 2.0 2.0 X X 0 0 0 Marianne E O'Donnell Secretary 2.0 2.0 X X 0 0 0 Robert N Basloe Treasurer 2.0 2.0 X X 0 0 0 Alan Vincent Board Member 2.0 2.0 X 0 0 0 Anna Lyga Board Member 2.0 2.0 X 0 0 0 Curtis Pearsall Board Member 2.0 4.0 X 0 0 0 Delores Caruso Board Member (As of 8/24) 2.0 2.0 X 0 0 0 James Seward Board Member 2.0 2.0 X 0 0 0 Jeffrey J Woeppel Board Member 2.0 2.0 X 0 0 0 Judith Gorman Board Member 2.0 2.0 X 0 0 0 Kathleen A Horn Board Member 2.0 2.0 X 0 0 0 Kathleen Marollo Board Member 2.0 2.0 X 0 0 0 Linda Talerico Board Member 2.0 2.0 X 0 0 0 Marybeth McCall MD Board Member 2.0 2.0 X 0 0 0 Craig Faerber Interim Network CFO 2.0 56.0 X 0 524460 0 Jennifer Miller Administrator 40.0 0 X 101005 0 13620 Lisa M Betrus President 2.0 40.0 X 0 518868 26764 Michael R Treen CFO 2.0 42.0 X 0 131412 11608 101005 1174740 51992 1 false true false 0 25715 121150 9500 156365 RESIDENT SERVICE REVENUE, NET 623000 3077704 3077704 MISCELLANEOUS REVENUE 900099 36833 36833 CAFETERIA 900099 1979 1979 0 0 0 0 3116516 0 0 0 0 0 0 0 0 0 0 3272881 3116516 0 0 114625 114625 1712138 1666083 46055 46933 42517 4416 35479 31817 3662 137502 137502 0 3105 3105 6800 6800 238770 144118 94652 0 257887 251855 6032 106180 106180 0 1868 1868 0 229542 229542 0 570749 570749 0 59780 59780 0 MISCELLANEOUS EXPENSES 5750 0 5750 0 0 0 0 3527108 3242011 285097 0 63266 183118 503 503 68079 109863 0 0 0 0 15639 17946 14952 10464 12837157 4947464 8405151 7889693 0 0 261937 409088 8829527 8620675 500521 513578 0 0 3964338 2745212 1798055 3049499 6262914 6308289 2566613 2312386 2566613 2312386 8829527 8620675 -254227 0 X false true true false X 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.0 X 314876 34922 25307 8208 156365 539678 1880046 1879079 2083954 2761753 3116516 11721348 2614 2141 2766 2140 0 9661 0 0 2197536 1916142 2112027 2772101 3272881 12270687 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12270687 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2197536 1916142 2112027 2772101 3272881 12270687 1 1.0 0 0.0 X 0 0 0 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 325471 325471 11607910 4226488 7381422 903776 720976 182800 7889693 Federal Income Taxes PATIENT TRUST FUNDS 303523 OTHER LIABILITIES 272374 DUE TO RELATED PARTY 2473602 3049499 X 3195870 0 0 3195870 0 0 3195870 3542073 0 0 3542073 0 0 3542073 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote FIN 48 FOOTNOTE VALLEY RESIDENTIAL SERVICES INC IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS OF BASSETT HEALTHCARE NETWORK (THE NETWORK). THE TEXT OF THE FIN 48 FOOTNOTE FROM THE CONSOLIDATED FINANCIAL STATEMENTS IS AS FOLLOWS: THE NETWORK'S VARIOUS SUBSIDIARIES GENERALLY CONSIST OF NOT-FOR-PROFIT CORPORATIONS ORGANIZED IN ACCORDANCE WITH SECTION 501(C)(3) OF THE IRC AND THEREFORE ARE EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(A) OF THE IRC. THE NETWORK RECOGNIZES INCOME TAX POSITIONS WHEN IT IS MORE-LIKELY THAN-NOT THAT THE POSITION WILL BE SUSTAINABLE BASED ON THE MERITS OF THE POSITION. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO MATERIAL TAX LIABILITIES OR UNCERTAIN TAX POSITIONS THAT NEED TO BE RECORDED. FOR TAXABLE SUBSIDIARIES OR INVESTMENTS, INCLUDING CCE, DEFERRED TAX ASSETS AND LIABILITIES ARE RECOGNIZED FOR THE FUTURE TAX CONSEQUENCES OF TEMPORARY DIFFERENCES BY APPLYING ENACTED STATUTORY TAX RATES APPLICABLE TO FUTURE YEARS FOR THE DIFFERENCES BETWEEN THE CONSOLIDATED FINANCIAL STATEMENTS AND TAX BASIS OF EXISTING ASSETS AND ABILITIES. SUCH DEFERRED TAX ASSETS AND LIABILITIES WERE NOT MATERIAL AS OF DECEMBER 31, 2024 AND 2023. X X X X false false false false false false false false false Lisa M Betrus President 0 471506 0 47362 0 0 0 17250 0 9514 0 545632 0 0 Craig Faerber Interim Network CFO 0 524460 0 0 0 0 0 0 0 0 0 524460 0 0 Form 990, Part I, Line 1 TO ESTABLISH A LICENSED ENRICHED HOUSING FACILITY CONTAINING AN ASSISTED LIVING PROGRAM AND A LICENSED HOME HEALTHCARE SERVICES AGENCY TO SERVE THE REGION'S FRAIL ELDERS AND DISABLED INDIVIDUALS OF LIMITED FINANCIAL MEANS WHO REQUIRE SOME ASSISTANCE WITH ACTIVITIES OF DAILY LIVING IN ORDER TO RETAIN THEIR INDEPENDENCE. COMMUNITY-BASED AND LOCAL PUBLIC HEALTHCARE PROVIDERS AND A LICENSED HOME CARE SERVICES AGENCY WILL ASSIST IN THE CARE OF THE ENRICHED HOUSING RESIDENTS. Form 990, Part VI, Line 15 THE BHN COMPENSATION COMMITTEE, MADE UP OF BHN BOARD MEMBERS, WILL CONDUCT AN ANNUAL REVIEW OF SALARY PLANS FOR ALL ORGANIZATIONAL EXECUTIVES. THIS REVIEW WILL TAKE INTO ACCOUNT EXTERNAL SURVEY DATA, RECRUITING EXPERIENCES, ECONOMIC TRENDS, AND A COST IMPACT ANALYSIS FOR THE ORGANIZATION. Form 990, Part VI, Line 6 Classes of members or stockholders BASSETT HEALTHCARE NETWORK IS THE SOLE MEMBER OF VALLEY RESIDENTIAL SERVICES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body BASSETT HEALTHCARE NETWORK IS THE PARENT AND SOLE MEMBER TO EACH OF THE FOLLOWING RELATED PARTIES: FRIENDS OF BASSETT, AURELIA OSBORN FOX MEMORIAL HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY, LITTLE FALLS HOSPITAL, O'CONNER HOSPITAL, TEMPLETON FOUNDATION, VALLEY HEALTH SERVICES, THE MARY IMOGENE BASSETT HOSPITAL, AND VALLEY RESIDENTIAL SERVICES. AS PARENT AND SOLE MEMBER, BASSETT HEATHCARE NETWORK HAS THE RIGHT TO APPONT AND REMOVE MEMBERS OF THE GOVERNING BOARDS, INCLUDING, BUT NOT LIMITED TO, APPROVAL OF OPERATING AND CAPITAL BUDGETS, CERTAIN CAPITAL EXPENDITURES, INDEBTEDNESS NOT CONTAINED IN THE APPROVED BUDGETS, SUBSTANTIVE CHANGES IN CLINICAL PROGRAMS, MERGERS, CONSOLIDATIONS, LIQUIDATIONS AND DISSOLUTIONS INVOLVING ITS SUBSIDIARIES AND CERTIFICATE OF NEED APPLICATIONS. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders SEE DISCLOSURE FOR PART VI, SECTION A, LINE 7A. Form 990, Part VI, Line 11b Review of form 990 by governing body THE 990S ARE PROVIDED TO THE BOARD BEFORE FILING. IF THERE ARE ANY QUESTIONS OR CONCERNS, THEY CAN RAISE IT WITH THE BOARD, CEO AND/OR CFO. Form 990, Part VI, Line 12c Conflict of interest policy THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING THE BOARD OF DIRECTORS TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM. Form 990, Part VI, Line 15a Process to establish compensation of top management official BASSETT HEALTHCARE NETWORK, HAS A FORMAL PROCESS THAT IS USED TO DETERMINE THE BASE COMPENSATION OF THE PRESIDENT ON AN ANNUAL BASIS. THIS PROCESS INCLUDES A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OF TRUSTEES OR THE COMPENSATION COMMITTEE. THE PRESIDENT'S WORKPLAN AND ACCOMPLISHMENTS FOR THE YEAR ARE OVERSEEN BY THE NETWORK LEADERSHIP. Form 990, Part VI, Line 15b Process to establish compensation of other employees BASSETT HEALTHCARE NETWORK, HAS A FORMAL PROCESS THAT IS USED TO DETERMINE THE BASE COMPENSATION OF ALL ORGANIZATIONAL EXECUTIVES ON AN ANNUAL BASIS. THIS PROCESS INCLUDES A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OF TRUSTEES OR THE COMPENSATION COMMITTEE. THE ORGANIZATIONAL EXECUTIVES WORKPLAN AND ACCOMPLISHMENTS FOR THE YEAR ARE OVERSEEN BY THE NETWORK LEADERSHIP. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Bassett Healthcare Network One Atwell Road Cooperstown NY 13326 133218680 Support NY 501(c)(3) 11 None false Friends of Bassett One Atwell Road Cooperstown NY 13326 237041610 Fundraising NY 501(c)(3) 7 BHN false Mary Imogene Bassett Hospital One Atwell Road Cooperstown NY 13326 135596796 Healthcare NY 501(c)(3) 3 BHN false Bassett Hospital Schoharie County 178 Grandview Drive Cobleskill NY 12043 141772971 Healthcare NY 501(c)(3) 3 BHN false Little Falls Hospital 140 Burwell Street Little Falls NY 13365 150533578 Healthcare NY 501(c)(3) 3 BHN false O'Connor Hospital 460 Andes Road Delhi NY 13753 161540394 Healthcare NY 501(c)(3) 3 BHN false Templeton Foundation One Atwell Road Cooperstown NY 13326 133317084 Landlord NY 501(c)(3) 10 BHN false AO FOX MEMORIAL HOSPITAL ONE NORTON AVENUE ONEONTA NY 13820 150539039 Healthcare NY 501(c)(3) 3 BHN false Valley Health Services 690 West German Street Herkimer NY 13350 463703838 Elder Care NY 501(c)(3) 10 BHN false Bassett PPS LLC 618 State Highway 7 Oneonta NY 13820 811749905 Healthcare NY 501(c)(3) Type I BHN false At Home Care Inc 25 Main Street Oneonta NY 13820 161287069 Healthcare NY 501(c)(3) 10 BHN false AT HOME CARE PARTNERS INC 25 MAIN STREET ONEONTA NY 13820 562397098 HEALTHCARE NY 501(c)(3) 10 AHC INC false FIRST COMMUNITY CARE OF BASSETT 60 NORTHPOINTE PARKWAY AMHERST NY 14228 161504464 HEALTHCARE NY BHN Related false false STAMFORD PROFESSIONAL ASSOCIATES 1 NORTON AVENUE ONEONTA NY 13820 161322304 RENTAL NY CATSKILL CARE Related false false LEATHERSTOCKING PHYSICIANS PC ONE ATWELL ROAD COOPERSTOWN NY 13326 364864562 HEALTHCARE SVCS NY NA C Corporation false CATSKILL CARE ENTERPRISES 1 NORTON AVENUE ONEONTA NY 13820 161236590 RETAIL PHARMACY NY AO Fox C Corporation false false false false false true false false false false false false false true false false true false false false