Hospice Of Midland Endowment Inc
- Assets
- $24.6m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Midland, TX
- Founding
- 10/2000
- Data as of
- 04/2023
- EIN
- 31-1732824
Organization Overview
Hospice Of Midland Endowment Inc is located in Midland, TX. The organization was established in 2000. According to its NTEE Classification (P74) the organization is classified as: Hospices, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hospice Of Midland Endowment Inc 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 04/2023, Hospice Of Midland Endowment Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $824.5k during the year ending 04/2023. While expenses have increased by 11.9% 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.
Since 2015, Hospice Of Midland Endowment Inc has awarded 20 individual grants totaling $2,110,825. 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
OPERATE EXCLUSIVELY FOR THE BENEFIT OF HOSPICE OF MIDLAND, INC - A NONPROFIT ORGANIZATION TO MANAGE THEIR INVESTMENTS, AND TO ASSIST IN PROVIDING FUNDING TO TERMINALLY ILL PATIENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSPICE OF ENDOWMENT INC WAS CREATED FOR THE BENEFIT OF HOSPICE OF MIDLAND INC (EIN 75-1736007) FOR THE PURPOSE OF MANAGING AND INVESTING HOSPICE OF MIDLAND INC'S FINANCIAL ASSETS, AND FOR THE DEVELOPMENT AND OPERATION OF AN ENDOWMENT FUND. HOSPICE OF MIDLAND INC IS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) WHICH WAS ESTABLISHED TO CARE FOR TERMINALLY ILL PATIENTS.
HOSPICE OF ENDOWMENT INC WAS CREATED FOR THE BENEFIT OF HOSPICE OF MIDLAND INC (EIN 75-1736007) FOR THE PURPOSE OF MANAGAING AND INVESTING HOSPICE OF MIDLAND INC'S FINANCIAL ASSETS, AND FOR THE DEVELOPMENT AND OPERATION OF AN ENDOWMENT FUND. HOSPICE OF MIDLAND INC IS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) WHICH WAS ESTABLISHED TO CARE FOR TERMINALLY ILL PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maurice Lopez President | OfficerTrustee | 0.17 | $0 |
Bobleta Cleere Vice Preside | OfficerTrustee | 0.13 | $0 |
Meagan Haygood Treasurer | OfficerTrustee | 0.19 | $0 |
Amy Penland Assistant Tr | OfficerTrustee | 0.06 | $0 |
Ryan Latham Secretary | OfficerTrustee | 0.13 | $0 |
Marion Bryant Director | Trustee | 0.13 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,587,296 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,587,296 |
| Total Program Service Revenue | $0 |
| Investment income | $383,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $844,880 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $340,925 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,156,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $715,164 |
| 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 | $175 |
| Fees for services: Accounting | $13,493 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,089 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $370 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $62,167 |
| Total functional expenses | $824,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,928,581 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,431 |
| 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 | $21,691,984 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $974,251 |
| Total assets | $24,637,247 |
| Accounts payable and accrued expenses | $193,377 |
| 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 | $193,377 |
| Net assets without donor restrictions | $22,471,158 |
| Net assets with donor restrictions | $1,972,712 |
| 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 | $24,637,247 |
Grants Awarded
Over the last fiscal year, Hospice Of Midland Endowment Inc has awarded $475,881 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOSPICE OF MIDLAND INC PURPOSE: EDUCATION REIMBURSE | $10,425 |
HOSPICE OF MIDLAND INC PURPOSE: MARKETING | $25,000 |
HOSPICE OF MIDLAND INC PURPOSE: INDIGENT CARE | $440,456 |