Healthcare Initiative Foundation
- Assets
- $29.7m
- Revenue
- $1.2m
- Investments
- $27.6m
- Employees
- 0
- Location
- Germantown, MD
- Founding
- 12/1973
- Data as of
- 06/2023
- EIN
- 23-7324576
Organization Overview
Healthcare Initiative Foundation is located in Germantown, MD. The organization was established in 1973. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Healthcare Initiative 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 06/2023, Healthcare Initiative Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $1.8m during the year ending 06/2023. While expenses have increased by 0.4% 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.
Since 2015, Healthcare Initiative Foundation has awarded 412 individual grants totaling $11,049,403. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Crystal Townsend President And CEO | 40 | $209,611 | |
Robert H Myers Jr Chair | 1.06 | $0 | |
George Dines Treasurer | 1.06 | $0 | |
Deborah Fisher Secretary | 0.64 | $0 | |
Mike Knapp Trustee | 0.56 | $0 | |
Dave Kressler Trustee | 1.14 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $148 |
| Dividends & Interest | $801,236 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $387,712 |
| Capital Gain Net Income | $387,712 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,030 |
| Total Revenue | $1,190,126 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $213,462 |
| Other employee salaries and wages | $163,042 |
| Pension plans, employee benefits | $71,502 |
| Interest | $0 |
| Taxes | $15,685 |
| Depreciation | $0 |
| Occupancy | $17,206 |
| Travel, conferences, and meetings | $24,327 |
| Printing and publications | $0 |
| Other expenses | $65,860 |
| Total operating and administrative expenses | $740,466 |
| Contributions, gifts, grants paid | $1,078,734 |
| Total expenses and disbursements | $1,819,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,400 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $8,556 |
| Net Pledges Receivable | $0 |
| Grants receivable | $25,000 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,805,699 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $27,556,694 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $125,863 |
| Total assets | $29,697,212 |
| Accounts payable and accrued expenses | $43,680 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $151,338 |
| Total liabilities | $195,018 |
Grants Awarded
Over the last fiscal year, Healthcare Initiative Foundation has awarded $1,508,280 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITIES AT SHADY GROVE PURPOSE: ENHANCING HEALTHCARE CAREER PATHWAYS THROUGH MONTGOMERY COLLEGE AND THE UNIVERSITIES AT SHADY GROVE | $100,000 |
THE UNIVERSITIES AT SHADY GROVE PURPOSE: ENHANCING HEALTHCARE CAREER PATHWAYS THROUGH MONTGOMERY COLLEGE AND THE UNIVERSITIES AT SHADY GROVE | $100,000 |
AMERICAN RED CROSS SERVING MONTGOMERY HOWARD AND FREDERICK COUNTIES PURPOSE: SICKLE CELL INITIATIVE IN MONTGOMERY COUNTY - SUPPORTING A DIVERSE BLOOD SUPPLY | $6,230 |
AMERICAN DIVERSITY GROUP PURPOSE: HEALTHY SMILE - ORAL HEALTH | $20,000 |
AYUDA PURPOSE: TRAUMA INFORMED BEHAVIORAL HEALTH & WELLNESS PROGRAM | $20,000 |
CASA PURPOSE: CASA CANCER EDUCATION AND ACCESS PROGRAM | $5,000 |