French Hospital Medical Center Foundation
- Assets
- $27.0m
- Revenue
- $6.2m
- Investments
- $2.8m
- Employees
- 0
- Location
- San Luis Obispo, CA
- Founding
- 03/2006
- Data as of
- 06/2021
- EIN
- 20-3256125
Organization Overview
French Hospital Medical Center Foundation is located in San Luis Obispo, CA. The organization was established in 2006. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. French Hospital Medical Center Foundation 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 06/2021, French Hospital Medical Center Foundation generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $3.9m during the year ending 06/2021. While expenses have increased by 0.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL ASSISTANCE AND SUPPORT SERVICES FOR DIGNITY COMMUNITY CARE (DBA: FRENCH HOSPITAL MEDICAL CENTER).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS AN IRC SEC 509(A)(3) TYPE I SUPPORTING ORGANIZATION TO DIGNITY COMMUNITY CARE, DBA FRENCH HOSPITAL MEDICAL CENTER (HOSPITAL). AS A SUPPORTING ORGANIZATION, THE FOUNDATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF THE HOSPITAL WHICH INCLUDE MAKING PAYMENTS DIRECTLY TO THE BENEFICIARY ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Iftiniuk Board Member/ President/ceo | OfficerTrustee | 6 | $0 |
Deborah Nicklas Vp, Philanthropy/ Executive Director | OfficerTrustee | 25 | $0 |
Erik Justesen Board Chair | OfficerTrustee | 4 | $0 |
Erika Bylund Secretary/treasurer | OfficerTrustee | 2 | $0 |
Thomas Lebens Vice-Chair | OfficerTrustee | 2 | $0 |
Charles Cova Division SVP Ops & CEO (thru 4/2/21) | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $83,247 |
| Related organizations | $1,079,825 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,207,358 |
| Noncash contributions included in lines 1a–1f | $192,343 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,370,430 |
| Total Program Service Revenue | $0 |
| Investment income | $315,436 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $500,527 |
| Net Income from Fundraising Events | -$9,250 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,177,143 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,796,303 |
| 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 | $13,703 |
| 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 | $46 |
| Fees for services: Fundraising | $18,253 |
| Fees for services: Investment Management | $11,909 |
| Fees for services: Other | $858,658 |
| Advertising and promotion | $85,642 |
| Office expenses | $70,459 |
| Information technology | $99 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,907 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $809 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $217 |
| Total functional expenses | $3,878,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,026,306 |
| Pledges and grants receivable | $9,206,398 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $9,008,343 |
| Investments—other securities | $2,755,605 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,996,652 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,894,795 |
| 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 | $1,603 |
| Total liabilities | $1,896,398 |
| Net assets without donor restrictions | $1,419,993 |
| Net assets with donor restrictions | $23,680,261 |
| 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 | $26,996,652 |
Grants Awarded
Over the last fiscal year, French Hospital Medical Center Foundation has awarded $2,629,837 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: Hospital Support | $1,737,563 |
San Francisco, CA PURPOSE: Hospital Support | $892,274 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that French Hospital Medical Center Foundation has recieved totaling $136,429.
| Awarding Organization | Amount |
|---|---|
B K Simon Charitable Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING | $40,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $36,900 |
Community Foundation San Luis Obispo County San Luis Obispo, CA PURPOSE: UNRESTRICTED | $16,200 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $13,250 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $10,000 |
The@peter & Mary Russo Family Foundation Inc Surf City, NJ PURPOSE: RESEARCH & FUNDING OF OPERATIONS | $10,000 |
Endowment Analysis
| Beg. Balance | $8,892,527 |
| Earnings | $2,393,965 |
| Net Contributions | $24,389 |
| Other Expense | $100,013 |
| Ending Balance | $11,210,868 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Calif Glaziers H&w Tr Fund Covina, CA | $29,114,155 | $20,946,347 |
Banner Health Foundation Phoenix, AZ | $138,766,928 | $27,502,678 |
Abc California Health Trust San Diego, CA | $8,208,446 | $18,293,053 |
Montage Health Foundation Monterey, CA | $246,774,163 | $32,937,422 |
Sun Health Foundation Sun City West, AZ | $41,548,364 | $9,339,372 |
Providence St Vincent Medical Foundation Portland, OR | $302,625,014 | $42,114,354 |
Providence Portland Medical Foundation Portland, OR | $219,001,384 | $22,077,699 |
John Muir Foundation Walnut Creek, CA | $65,372,142 | $20,131,142 |
Gallo Union Health Trust Modesto, CA | $21,480,077 | $14,963,749 |
Redwood Community Health Network Petaluma, CA | $4,126,775 | $12,982,178 |
Kuakini Foundation Honolulu, HI | $15,169,850 | $4,896,720 |
Martin Luther King Jr Community Health Foundation Los Angeles, CA | $43,323,066 | $8,250,886 |