Mount Carmel Health System Foundation
- Assets
- $179.2m
- Revenue
- $14.2m
- Investments
- $27.0m
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 31-1113966
Organization Overview
Mount Carmel Health System Foundation, operating under the name Mount Carmel Foundation, is located in Columbus, OH. The organization was established in 1946. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Mount Carmel 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, Mount Carmel Foundation generated $14.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $9.0m during the year ending 06/2021. While expenses have increased by 2.8% 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, Mount Carmel Foundation has awarded 52 individual grants totaling $42,995,448. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE PROGRAMS OF MOUNT CARMEL HEALTH SYSTEM AND ITS AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1984, MOUNT CARMEL HEALTH SYSTEM FOUNDATION (MCHS FOUNDATION), LOCATED IN COLUMBUS, OH, HAS SERVED AS THE FUNDRAISING ARM OF MOUNT CARMEL HEALTH SYSTEM AND ITS AFFILIATES. MCHS FOUNDATION IS DEDICATED TO FUNDING THE MISSION-DRIVEN HEALTH AND EDUCATION PROGRAMS AND SERVICES PROVIDED THROUGH THE MOUNT CARMEL HEALTH SYSTEM. MCHS FOUNDATION RAISED $ 3,385,589 IN FISCAL YEAR 2021 FROM INDIVIDUALS, CORPORATIONS, PRIVATE FOUNDATIONS AND THE FEDERAL AND STATE GOVERNMENT WITH ASSISTANCE FROM DEDICATED VOLUNTEERS AND GENEROUS FRIENDS. THESE CONTRIBUTIONS HELP MOUNT CARMEL HEALTH SYSTEM TO MEET THE VAST MEDICAL, DENTAL AND SOCIAL SERVICE NEEDS OF THE UNINSURED AND UNDERINSURED COMMUNITY AND TO RESPOND TO THE UNMET NEEDS OF OLDER PERSONS IN THE COMMUNITY. PLEASE VISIT OUR WEBSITE FOR ADDITIONAL INFORMATION: WWW.MOUNTCARMELFOUNDATION.ORG
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lorraine Lutton Director; Mount Carmel CEO | OfficerTrustee | 1 | $0 |
Deanna Stewart Director; President & Exec Director | OfficerTrustee | 50 | $0 |
Michael Curtin Director; Vice Chair | OfficerTrustee | 1 | $0 |
Ramon Jones Director; Secretary | OfficerTrustee | 1 | $0 |
James Karam Director; Treasurer | OfficerTrustee | 1 | $0 |
John Trydahl Director; Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accordant Philanthropy Consulting Services | 6/29/20 | $162,477 |
Clearstead Advisors Llc Investment Advisors | 6/29/20 | $154,963 |
Ohio State University Moms2b Program Services | 6/29/20 | $127,938 |
Cristo Rey Columbus High School Work Stu Work Study Program Services | 6/29/20 | $117,670 |
Accordant Philanthropy Consulting Services | 6/29/20 | $162,477 |
Ohio State University Moms2b Program Services | 6/29/20 | $127,938 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,000 |
| Government grants | $1,067,125 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,313,464 |
| Noncash contributions included in lines 1a–1f | $150,880 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,385,589 |
| Total Program Service Revenue | $0 |
| Investment income | $3,830,604 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,913,321 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,161,833 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,286,694 |
| 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. | $307,256 |
| Compensation of current officers, directors, key employees. | $153,628 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $996,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $197,512 |
| Payroll taxes | $78,987 |
| 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 | $918,869 |
| Fees for services: Other | $381,019 |
| Advertising and promotion | $873 |
| Office expenses | $334,656 |
| Information technology | $3,564 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,298 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,455 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,135 |
| Insurance | $2,496 |
| All other expenses | $14,151 |
| Total functional expenses | $9,036,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $739,134 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,783,658 |
| 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 | $19,000 |
| Net Land, buildings, and equipment | $125,480 |
| Investments—publicly traded securities | $149,369,572 |
| Investments—other securities | $26,960,743 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $226,783 |
| Total assets | $179,224,370 |
| Accounts payable and accrued expenses | $45,082 |
| Grants payable | $0 |
| Deferred revenue | $379,308 |
| 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 | $1,584,714 |
| Total liabilities | $2,009,104 |
| Net assets without donor restrictions | $165,873,466 |
| Net assets with donor restrictions | $11,341,800 |
| 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 | $179,224,370 |
Grants Awarded
Over the last fiscal year, Mount Carmel Health System Foundation has awarded $5,281,369 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Columbus, OH PURPOSE: EXTERNAL GRANTS RECEIVED AND SUPPORT FOR OUTREACH PROGRAMS | $4,437,183 |
Columbus, OH PURPOSE: SCHOLARSHIP FUNDING | $494,186 |
Columbus, OH PURPOSE: COMMUNITY BENEFIT | $350,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Mount Carmel Health System Foundation has recieved totaling $126,980.
| Awarding Organization | Amount |
|---|---|
Columbus Foundation Columbus, OH PURPOSE: HEALTH | $66,755 |
Margaret And Robert Walter Foundation Columbus, OH PURPOSE: HEALTH | $35,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $15,125 |
Baps Charities Inc Piscataway, NJ PURPOSE: COVID-19 PANDEMIC RELIEF FUND | $10,000 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $100 |
Endowment Analysis
| Beg. Balance | $6,891,648 |
| Earnings | $8,402 |
| Net Contributions | $29,632 |
| Ending Balance | $6,929,682 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Livingston Hospital And Healthcare Services Inc Salem, KY | $11,764,039 | $22,423,570 |
Barnesville Hospital Association Inc Barnesville, OH | $13,746,955 | $20,495,277 |
Cumberland County Hospital Association Inc Burkesville, KY | $27,206,653 | $23,152,789 |
Grafton City Hospital Inc Grafton, WV | $12,579,232 | $20,111,333 |
Lvhn Scranton Orthopedic Specialists Allentown, PA | $3,870,668 | $16,734,711 |
Guthrie Towanda Memorial Hospital Towanda, PA | $0 | $13,772,403 |
Lehigh Valley Hospital - Coordinated Health Bethlehem Allentown, PA | $0 | $23,779,920 |
Caro Community Hospital Caro, MI | $10,951,457 | $15,571,045 |
Geisinger Jersey Shore Hospital Danville, PA | $29,794,644 | $19,405,127 |
Uofl Health-Shelbyville Inc Louisville, KY | $17,393,919 | $16,689,423 |
Harbor Beach Community Hospital Inc Harbor Beach, MI | $11,834,648 | $18,751,051 |
Wayne County Hospital Inc Monticello, KY | $12,751,716 | $22,596,534 |