Hadassah Medical Relief Association Inc
- Assets
- $704.8m
- Revenue
- $50.9m
- Investments
- $403.4m
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1941
- Data as of
- 12/2021
- EIN
- 13-6110872
Organization Overview
Hadassah Medical Relief Association Inc is located in New York, NY. The organization was established in 1941. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hadassah Medical Relief Association Inc 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 12/2021, Hadassah Medical Relief Association Inc generated $50.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $418.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Hadassah Medical Relief Association Inc has awarded 39 individual grants totaling $562,864,375. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A VOLUNTEER ORGANIZATION THAT INSPIRES A PASSION FOR AND COMMITMENT TO THE FUTURE OF ISRAEL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO AFFILIATES: BEGINNING IN 2021, HADASSAH, THE WOMEN'S ZIONIST ORGANIZATION OF AMERICA, INC. ("HWZOA") GRANTED TO HMRA THE DISCRETION AND RESPONSIBILITY FOR ADMINISTERING, MANAGING AND INVESTING CERTAIN INVESTMENT ASSETS. FOR INVESTMENT PURPOSES ONLY, HMRA IS ALLOWED TO POOL AND MANAGE THE FUNDS WITH FUNDS OWNED BY HMRA AND THE HADASSAH FOUNDATION, INC. ("HF"). ON A QUARTERLY BASIS, HMRA TRANSFERS TO HWZOA AND HF THEIR PRO RATA SHARE OF INVESTMENT INCOME. IN ADDITION, HMRA TRANSFERS TO HWZOA DISTRIBUTIONS FROM ENDOWMENTS HELD BY HMRA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rhoda Smolow President | OfficerTrustee | 6 | $0 |
Michelle Hubertus Treasurer | OfficerTrustee | 6 | $0 |
Carol Ann Schwartz Secretary | OfficerTrustee | 6 | $0 |
Janet Hand Deixler Vice President | OfficerTrustee | 6 | $0 |
Peg Elefant Vice President (start 1/1/22) | OfficerTrustee | 6 | $0 |
Shelley Kaplan Vice President | OfficerTrustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Offit Capital Advisors Llc Invest Consultants | 12/30/20 | $717,699 |
Yehuda Raveh & Co Legal | 12/30/20 | $390,035 |
Softrek It Services | 12/30/20 | $367,394 |
Kpmg Llp Accounting | 12/30/20 | $349,283 |
Pryor Cashman Llp Legal | 12/30/20 | $477,236 |
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 | $806,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $806,296 |
| Total Program Service Revenue | $0 |
| Investment income | $4,355,492 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $45,625 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,699,068 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,906,481 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $416,805,630 |
| 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 | $1,970,564 |
| 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 | $3,228 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $418,787,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $250,249 |
| Pledges and grants receivable | $7,002,140 |
| Accounts receivable, net | $366,069 |
| 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 | $57,832 |
| Investments—publicly traded securities | $293,753,137 |
| Investments—other securities | $403,418,704 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $704,848,131 |
| Accounts payable and accrued expenses | $7,667 |
| 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 | $465,308,204 |
| Total liabilities | $465,315,871 |
| Net assets without donor restrictions | -$186,201 |
| Net assets with donor restrictions | $239,718,461 |
| 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 | $704,848,131 |
Grants Awarded
Over the last fiscal year, Hadassah Medical Relief Association Inc has awarded $31,328,506 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HADASSAH FOUNDATION PURPOSE: GENERAL SUPPORT | $722,742 |
HADASSAH THE WOMEN'S ZIONIST ORG OF AMERICA PURPOSE: GENERAL SUPPORT | $30,605,764 |