Hendrick Medical Center Foundation
- Assets
- $76.4m
- Revenue
- $5.4m
- Investments
- $3.9m
- Employees
- 4
- Location
- Abilene, TX
- Founding
- 07/1975
- Data as of
- 08/2023
- EIN
- 23-7413284
Organization Overview
Hendrick Medical Center Foundation is located in Abilene, TX. The organization was established in 1975. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 08/2023, Hendrick Medical Center Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hendrick 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 08/2023, Hendrick Medical Center Foundation generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.0m during the year ending 08/2023. While expenses have increased by 10.5% per year over the past 8 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 2018, Hendrick Medical Center Foundation has awarded 12 individual grants totaling $4,155,114. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH FUNDRAISING AND SUPPORT EFFORTS, THE FOUNDATION'S MISSION IS TO PROVIDE FUNDING FOR HMC'S NEEDS AND PROGRAMS IN ORDER TO HELP DELIVER HIGH QUALITY HEALTHCARE.
Describe the Organization's Program Activity:
WE ARE A PARTICIPATING HOSPITAL IN THE CHILDREN'S MIRACLE NETWORK WHERE WE HAVE CONTINUED TO RAISE APPROXIMATELY $473,388 THIS YEAR TO SUPPORT CHILDREN'S SERVICES AT HENDRICK MEDICAL CENTER.
THE HENDRICK MEDICAL CENTER FOUNDATION ALSO RAISED $365,033 THIS YEAR IN FUNDS TO SUPPORT HENDRICK MEDICAL CENTER AND ITS AFFILIATE.
THE HENDRICK MEDICAL CENTER FOUNDATION'S PROGRAM TO HELP PROVIDE ACCESS TO CARE FOR PATIENTS WHO ARE FINANCIALLY INDIGENT. ASSISTED 127 INDIVIDUALS DURING THE YEAR.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Bridge MD Trustee | Trustee | 2 | $0 |
Brad Holland Hmc President, CEO | OfficerTrustee | 2 | $0 |
Elliot Vann MD Trustee | Trustee | 2 | $0 |
Sandip Mathur Trustee | Trustee | 2 | $0 |
Ishmeet Walia MD Trustee | Trustee | 2 | $0 |
Ezeoke Chukwoemeka Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $294,080 |
| Membership dues | $0 |
| Fundraising events | $574,547 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,407,549 |
| Noncash contributions included in lines 1a–1f | $44,833 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,276,176 |
| Total Program Service Revenue | $0 |
| Investment income | $1,282,636 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$199,853 |
| Net Income from Fundraising Events | $22,464 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,381,813 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $362,675 |
| Grants and other assistance to domestic individuals. | $544,963 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $253,829 |
| Compensation of current officers, directors, key employees. | $206,917 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $166,229 |
| Pension plan accruals and contributions | $5,633 |
| Other employee benefits | $42,865 |
| Payroll taxes | $21,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,845 |
| Fees for services: Other | $148,093 |
| Advertising and promotion | $105,668 |
| Office expenses | $146,177 |
| Information technology | $27,884 |
| Royalties | $0 |
| Occupancy | $4,624 |
| Travel | $6,224 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $421 |
| Total functional expenses | $1,991,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $91,212 |
| Pledges and grants receivable | $20,925 |
| Accounts receivable, net | $8,559 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,714,966 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,611 |
| Net Land, buildings, and equipment | $14,912 |
| Investments—publicly traded securities | $56,530,192 |
| Investments—other securities | $3,907,883 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $92,598 |
| Total assets | $76,413,858 |
| Accounts payable and accrued expenses | $205,568 |
| 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 | $88,324 |
| Total liabilities | $293,892 |
| Net assets without donor restrictions | $65,740,776 |
| Net assets with donor restrictions | $10,379,190 |
| 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 | $76,413,858 |
Grants Awarded
Over the last fiscal year, Hendrick Medical Center Foundation has awarded $362,576 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HENDRICK MEDICAL CENTER PURPOSE: HOSPITAL SUPPORT | $79,679 |
HENDRICK HOSPICE CARE PURPOSE: HOSPITAL SUPPORT | $282,897 |