Parma Hospital Health Care Foundation
- Assets
- $11.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Parma, OH
- Founding
- 11/1989
- Data as of
- 12/2023
- EIN
- 34-1626664
Organization Overview
Parma Hospital Health Care Foundation is located in Parma, OH. The organization was established in 1989. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Parma Hospital Health Care 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 12/2023, Parma Hospital Health Care Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.5% each year . All expenses for the organization totaled $516.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND ASSIST THE MISSION OF UNIVERSITY HOSPITALS PARMA COMMUNITY GENERAL HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GRANTS ASSISTANCE TO UNIVERSITY HOSPITALS PARMA COMMUNITY GENERAL HOSPITAL TO FURTHER ENHANCE THE HOSPITAL'S MISSION AND COMMUNITY BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raad Dany MD Director (begin 05/23) | Trustee | 2 | $0 |
Bond Bradley C Director (ex-Officio) | Trustee | 2 | $0 |
Andrefsky John MD Director | Trustee | 2 | $0 |
Hill James MD Director/president (ex-Officio) | OfficerTrustee | 2 | $0 |
Ungvarsky Richard MD Director | Trustee | 2 | $0 |
Basista Tom Director/vice Chair (end 04/23) | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,267,914 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,258 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,280,172 |
| Total Program Service Revenue | $0 |
| Investment income | $262,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $173,900 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,716,268 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $386,947 |
| 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 | $118,557 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,540 |
| Advertising and promotion | $0 |
| Office expenses | $63 |
| 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 | $3,117 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,013 |
| Total functional expenses | $516,857 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $844,937 |
| Accounts receivable, net | $351,041 |
| 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 | $10,134,775 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,330,753 |
| Accounts payable and accrued expenses | $177,379 |
| Grants payable | $1,200,000 |
| 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 | $1,377,379 |
| Net assets without donor restrictions | $4,457,520 |
| Net assets with donor restrictions | $5,495,854 |
| 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 | $11,330,753 |
Grants Awarded
Over the last fiscal year, Parma Hospital Health Care Foundation has awarded $1,049,125 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY HOSPITALS PARMA MEDICAL CENTER PURPOSE: SUPPORT HOSPICE | $1,017,713 |
PARMA HEALTH MINISTRY PURPOSE: SUPPORT MEDICAL CARE | $24,600 |
WOMANKIND CARE PURPOSE: SPRT PRENATAL CARE | $6,812 |