Ascension Borgess Foundation
- Assets
- $31.9m
- Revenue
- $5.3m
- Investments
- $496.5k
- Employees
- 0
- Location
- St Louis, MO
- Founding
- 06/1972
- Data as of
- 06/2022
- EIN
- 23-7222558
Organization Overview
Ascension Borgess Foundation, operating under the name Ascension Michigan Foundation, is located in St Louis, MO. The organization was established in 1972. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ascension Michigan 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 06/2022, Ascension Michigan Foundation generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $5.6m during the year ending 06/2022. While expenses have increased by 19.7% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACTIVELY SEEK AND INVEST CHARITABLE SUPPORT FOR ASCENSION BORGESS HOSPITAL, SO THAT THEY MAY IMPROVE THE HEALTH AND WELL-BEING OF ALL THE PEOPLE IN THE COMMUNITIES THEY SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1972, THE ASCENSION BORGESS FOUNDATION HAS CONTINUED THE RICH TRADITION OF PHILANTHROPY IN SUPPORT OF HEALTH CARE AND RELATED SERVICES AT ASCENSION BORGESS. OUR PRIMARY FOCUS IS ON ASSISTING ESSENTIAL LOCAL PROJECTS THAT WILL HELP MAKE COMPREHENSIVE HEALTH CARE SERVICES ACCESSIBLE TO EVERYONE. UNRESTRICTED GIFTS TO THE ASCENSION BORGESS FOUNDATION ARE DIRECTED BY OUR TRUSTEES TO THE AREAS DETERMINED TO BE OF GREATEST NEED. THERE ARE ALSO A NUMBER OF RESTRICTED FUNDS THAT SUPPORT THE DESIGNATED INTEREST OF OUR DONORS. AS PART OF THE ASCENSION CATHOLIC HEALTH MINISTRY, THE FILING ORGANIZATION SERVED IN SUPPORT OF ASCENSION'S COMMITMENT TO BOTH CARE FOR PATIENTS AND COMMUNITIES AND SUPPORT CAREGIVERS AND OTHER ASSOCIATES THROUGH THE CHALLENGES OF THE COVID-19 GLOBAL PANDEMIC IN FY22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary/vp, Foundation Development | OfficerTrustee | 0 | $0 |
Name Not Listed Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Ex-Officio/president, Ascension Borgess | OfficerTrustee | 0 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $67,517 |
| Related organizations | $751,068 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,190,835 |
| Noncash contributions included in lines 1a–1f | $22,104 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,009,420 |
| Total Program Service Revenue | $0 |
| Investment income | $879,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,389,056 |
| Net Income from Fundraising Events | -$11,414 |
| Net Income from Gaming Activities | $741 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,267,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,581,136 |
| 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 | $110,940 |
| Fees for services: Other | $22,872 |
| Advertising and promotion | $22,785 |
| Office expenses | $60,391 |
| Information technology | $18,397 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,166 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,257 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98 |
| Insurance | $0 |
| All other expenses | $2,038 |
| Total functional expenses | $5,634,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500 |
| Savings and temporary cash investments | $5,406,851 |
| Pledges and grants receivable | $831,221 |
| 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 | $24,952,929 |
| Investments—other securities | $496,485 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,991 |
| Total assets | $31,875,977 |
| Accounts payable and accrued expenses | $2,398,588 |
| Grants payable | $0 |
| Deferred revenue | $40,000 |
| 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 | $0 |
| Total liabilities | $2,438,588 |
| Net assets without donor restrictions | $18,250,597 |
| Net assets with donor restrictions | $11,186,792 |
| 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 | $31,875,977 |
Grants Awarded
Over the last fiscal year, Ascension Borgess Foundation has awarded $4,578,136 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ASCENSION BORGESS HOSPITAL PURPOSE: OPERATING & CAPITAL SUPPORT | $4,565,914 |
BORGESS HEALTH ALLIANCE INC PURPOSE: OPERATING SUPPORT | $12,222 |