Memorial Health Systems Foundation Inc
- Assets
- $11.1m
- Revenue
- $1.2m
- Investments
- $16.1k
- Employees
- 0
- Location
- Daytona Beach, FL
- Founding
- 09/2001
- Data as of
- 12/2021
- EIN
- 31-1771522
Organization Overview
Memorial Health Systems Foundation Inc, operating under the name Adventhealth Daytona Beach Foundation, is located in Daytona Beach, FL. The organization was established in 2001. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adventhealth Daytona Beach 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 12/2021, Adventhealth Daytona Beach Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $694.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Adventhealth Daytona Beach Foundation has awarded 12 individual grants totaling $1,552,942. 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
FUND RAISING FOR THE NEEDS OF MEMORIAL HEALTH SYSTEMS, INC. DBA ADVENTHEALTH DAYTONA BEACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY EXEMPT PURPOSE OF MEMORIAL HEALTH SYSTEMS FOUNDATION, INC. (THE FOUNDATION) IS TO CONDUCT FUND-RAISING ON BEHALF OF MEMORIAL HEALTH SYSTEMS, INC. (MHS), AN IRC SECTION 501(C)(3) ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rand Julie Executive Director | Officer | 50 | $0 |
Noseworthy Ed Director | Trustee | 0.2 | $0 |
Cohen MD Hezi Director (ended 02/21) | Trustee | 0.2 | $0 |
Domayer Cfo Cory Director (beg 04/21) | Trustee | 0.2 | $0 |
Bernstein Rosalie Director | Trustee | 0.3 | $0 |
Ferguson John Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $31,022 |
| Related organizations | $56,129 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $236,350 |
| Noncash contributions included in lines 1a–1f | $56,129 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,501 |
| Total Program Service Revenue | $238,139 |
| Investment income | $256,863 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $300,627 |
| Net Income from Fundraising Events | $55,576 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,174,706 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $526,793 |
| Grants and other assistance to domestic individuals. | $6,845 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,670 |
| 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 | $0 |
| Fees for services: Accounting | $22,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $90,893 |
| Fees for services: Other | $301 |
| Advertising and promotion | $537 |
| Office expenses | $6,649 |
| Information technology | $21,803 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $15 |
| 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 | $1,312 |
| Total functional expenses | $694,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,881,006 |
| Pledges and grants receivable | $10,949 |
| 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 | $0 |
| Investments—publicly traded securities | $7,800,620 |
| Investments—other securities | $16,106 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,368,583 |
| Total assets | $11,077,264 |
| Accounts payable and accrued expenses | $18,721 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $91,093 |
| 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 | $109,814 |
| Net assets without donor restrictions | $5,571,661 |
| Net assets with donor restrictions | $5,395,789 |
| 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 | $11,077,264 |
Grants Awarded
Over the last fiscal year, Memorial Health Systems Foundation Inc has awarded $525,269 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Daytona Beach, FL PURPOSE: MEDICAL EQUIPMENT | $262,895 |
MEMORIAL HEALTH SYSTEMS INC DBA ADVENTHEALTH DAYTONA BEACH PURPOSE: GENERAL SUPPORT | $250,284 |
Daytona Beach, FL PURPOSE: PRENATAL KITS | $12,090 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Memorial Health Systems Foundation Inc has recieved totaling $399,838.
| Awarding Organization | Amount |
|---|---|
Memorial Health Systems Inc Daytona Beach, FL PURPOSE: PROVISION OF GENERAL ADMINISTRATIVE SUPPORT | $349,633 |
Motorsports Charities Inc Daytona Beach, FL PURPOSE: PROGRAM SUPPORT | $35,000 |
American Cancer Society Inc Kennesaw, GA PURPOSE: Patient Support | $10,000 |
Fraternal Order Of Eagles Foundation Grove City, OH PURPOSE: EDUCATIONAL MATERIALS/EQUIPMENT/SUPPLIES | $5,200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $4,109,813 |
| Earnings | $106,587 |
| Ending Balance | $4,216,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enduring Hearts Inc Marietta, GA | $4,514,675 | $1,999,139 |
Live Like Bella Inc Coral Gables, FL | $1,403,532 | $1,545,707 |
Its The Journey Inc Peachtree Corners, GA | $1,468,150 | $837,855 |
Ians Friends Foundation Inc Atlanta, GA | $2,303,183 | $1,075,992 |
The Cancer Foundation Inc Athens, GA | $2,195,862 | $959,444 |
Memorial Health Systems Foundation Inc Daytona Beach, FL | $11,077,264 | $1,174,706 |
Kruzn For A Kure Foundation Muscle Shoals, AL | $522,631 | $578,388 |
Touched By Type 1 Inc Altamonte Springs, FL | $407,632 | $573,412 |
Atlanta Cancer Care Foundation Inc Atlanta, GA | $402,119 | $605,731 |
Ateam Ministries Homewood, AL | $354,192 | $468,389 |
Gist Cancer Research Fund North Miami Beach, FL | $542,121 | $500,625 |
Tylers Hope For Dystonia Cure Inc Alachua, FL | $489,534 | $485,740 |