Methodist Healthcare Foundation
- Assets
- $19.9m
- Revenue
- $4.7m
- Investments
- $5.7m
- Employees
- 10
- Location
- Memphis, TN
- Founding
- 07/1974
- Data as of
- 12/2023
- EIN
- 23-7320638
Organization Overview
Methodist Healthcare Foundation is located in Memphis, TN. The organization was established in 1974. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2023, Methodist Healthcare Foundation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Methodist Healthcare 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 12/2023, Methodist Healthcare Foundation generated $4.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (22.2%) each year. All expenses for the organization totaled $5.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (15.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Methodist Healthcare Foundation has awarded 77 individual grants totaling $56,614,452. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO UPLIFT METHODIST LE BONHEUR HEALTHCARE'S COMPASSIONATE CARE FOR OUR ENTIRE COMMUNITY THROUGH PHILANTHROPY, HEALTH ADVOCACY, AND A VISION OF HEALING AND HOPE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO UPLIFT METHODIST LE BONHEUR HEALTHCARE'S COMPASSIONATE CARE FOR OUR ENTIRE COMMUNITY THROUGH PHILANTHROPY, HEALTH ADVOCACY, AND A VISION OF HEALING AND HOPE. CONTINUED ON SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Assistant Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Assistant Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Board Chair | OfficerTrustee | 2 | $0 |
Name Not Listed President | OfficerTrustee | 40 | $179,042 |
Name Not Listed Board Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greater Talent Network Incgtn Speaker Fees | 12/30/22 | $160,991 |
Booknook Inc Tutoring Services | 12/30/22 | $493,179 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $477,911 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,959,783 |
| Noncash contributions included in lines 1a–1f | $104,998 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,437,694 |
| Total Program Service Revenue | $0 |
| Investment income | -$496,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$281,411 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,659,980 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,142,938 |
| Grants and other assistance to domestic individuals. | $16,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $179,042 |
| Compensation of current officers, directors, key employees. | $89,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $577,901 |
| Pension plan accruals and contributions | $57,611 |
| Other employee benefits | $172,300 |
| Payroll taxes | $58,127 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $971 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $12,600 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,160 |
| Advertising and promotion | $0 |
| Office expenses | $37,362 |
| Information technology | $56,758 |
| Royalties | $0 |
| Occupancy | $823 |
| Travel | $3,004 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,035 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,076 |
| Insurance | $652 |
| All other expenses | $0 |
| Total functional expenses | $5,569,523 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,736 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,466,479 |
| 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 | $6,795 |
| Investments—publicly traded securities | $11,671,913 |
| Investments—other securities | $5,739,067 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,909,990 |
| Accounts payable and accrued expenses | $774,767 |
| 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 | $0 |
| Total liabilities | $774,767 |
| Net assets without donor restrictions | $125,396 |
| Net assets with donor restrictions | $19,009,827 |
| 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 | $19,909,990 |
Grants Awarded
Over the last fiscal year, Methodist Healthcare Foundation has awarded $980,984 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE HEALTH SERVICES INC PURPOSE: Various Programs and Operational Support | $250,000 |
ALLIANCE HEALTH SERVICES INC PURPOSE: Capital Acquisitions | $1,506 |
UNIVERSITY OF TENNESSEE PURPOSE: Professorship, Research, & IRB Fees | $120,973 |
CAMPBELL CLINIC FOUNDATION PURPOSE: Clinic Support | $136,457 |
SEMMES MURPHEY FOUNDATION PURPOSE: Endovascular Fellowship | $348,600 |
METHODIST HEALTHCARE - MEMPHIS HOSPITALS PURPOSE: Capital Acquisitions | $108,896 |