Metrohealth Foundation Inc
- Assets
- $87.5m
- Revenue
- $9.5m
- Investments
- $5.7m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 10/1956
- Data as of
- 12/2023
- EIN
- 34-6607695
Organization Overview
Metrohealth Foundation Inc is located in Cleveland, OH. The organization was established in 1956. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, 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. Metrohealth Foundation 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 12/2023, Metrohealth Foundation Inc generated $9.5m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $9.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Metrohealth Foundation Inc has awarded 15 individual grants totaling $42,387,764. 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
THE METROHEALTH FOUNDATION, INC. SEEKS TO SUPPORT THE METROHEALTH SYSTEM BY COORDINATING FUND RAISING AND IMPLEMENTING PHILANTHROPIC ACTIVITIES THAT HELP METROHEALTH LEAD THE WAY TO A HEALTHIER COMMUNITY THROUGH SERVICE, TEACHING, DISCOVERY AND TEAMWORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE METROHEALTH FOUNDATION SUPPORTS PATIENT CARE, EDUCATION AND RESEARCH ACTIVITIES OF THE METROHEALTH SYSTEM (MHS). MHS, CUYAHOGA COUNTY'S PUBLIC HEALTH SYSTEM, IS HONORING ITS COMMITMENT TO CREATE A HEALTHIER COMMUNITY AND HAS BUILT A NEW HOSPITAL ON ITS MAIN CAMPUS IN CLEVELAND, WHICH IS CATALYZING THE REVITALIZATION OF METROHEALTH'S WEST SIDE NEIGHBORHOOD. METROHEALTH OPENED THE NEW GLICK CENTER IN NOVEMBER 2022, USING NEARLY $1 BILLION IT BORROWED ON ITS OWN CREDIT AFTER DRAMATICALLY IMPROVING ITS FINANCES. TODAY, ITS STAFF OF MORE THAN 9,000 PROVIDES CARE AT METROHEALTH'S FOUR HOSPITALS, FOUR EMERGENCY DEPARTMENTS AND MORE THAN 20 HEALTH CENTERS AND 40 ADDITIONAL SITES THROUGHOUT CUYAHOGA COUNTY. IN THE PAST YEAR, METROHEALTH HAS SERVED 300,000 PATIENTS AT MORE THAN 1.4 MILLION VISITS IN ITS HOSPITALS AND HEALTH CENTERS, TWO-THIRDS OF WHOM ARE UNINSURED OR COVERED BY MEDICARE OR MEDICAID. THE HEALTH SYSTEM IS HOME TO CUYAHOGA COUNTY'S MOST EXPERIENCED LEVEL I ADULT TRAUMA CENTER, VERIFIED SINCE 1982, AND OHIO'S ONLY ADULT AND PEDIATRIC TRAUMA AND BURN CENTER. AS AN ACADEMIC MEDICAL CENTER, METROHEALTH IS COMMITTED TO TEACHING AND RESEARCH. EACH ACTIVE STAFF PHYSICIAN HOLDS A FACULTY APPOINTMENT AT CASE WESTERN RESERVE UNIVERSITY SCHOOL OF MEDICINE AND ITS MAIN CAMPUS HOSPITAL HOUSES A CLEVELAND METROPOLITAN SCHOOL DISTRICT HIGH SCHOOL OF SCIENCE AND HEALTH. FOR MORE INFORMATION, VISIT METROHEALTH.ORG.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas R Alexander Director | Trustee | 1 | $0 |
John Chae MD Director | Trustee | 1 | $0 |
Rachel Ciomcia Director | Trustee | 1 | $0 |
Jeffrey A Claridge MD Director | Trustee | 1 | $0 |
William Clawson Director | Trustee | 1 | $0 |
Alfred F Connors Jr MD Director/officer | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $4,716 |
| Membership dues | $0 |
| Fundraising events | $66,750 |
| Related organizations | $0 |
| Government grants | $1,209,133 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,561,426 |
| Noncash contributions included in lines 1a–1f | $65,454 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,842,025 |
| Total Program Service Revenue | $0 |
| Investment income | $1,753,497 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$100,903 |
| Net Income from Fundraising Events | -$69,458 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,468,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,497,591 |
| 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 | $72,002 |
| Fees for services: Accounting | $120,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89,205 |
| Fees for services: Other | $57,982 |
| Advertising and promotion | $24,925 |
| Office expenses | $971 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,559 |
| 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 | $50,675 |
| All other expenses | $50,785 |
| Total functional expenses | $9,155,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,220,760 |
| Pledges and grants receivable | $4,526,426 |
| 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 | $27,993 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $73,675,075 |
| Investments—other securities | $5,709,477 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $363,234 |
| Total assets | $87,522,965 |
| Accounts payable and accrued expenses | $54,651 |
| Grants payable | $921,911 |
| 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 | $296,452 |
| Total liabilities | $1,273,014 |
| Net assets without donor restrictions | $28,794,460 |
| Net assets with donor restrictions | $57,455,491 |
| 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 | $87,522,965 |
Grants Awarded
Over the last fiscal year, Metrohealth Foundation Inc has awarded $8,497,591 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE METROHEALTH SYSTEM PURPOSE: MEDICAL | $8,353,265 |
DIGITALC PURPOSE: DIGITAL CONNECTIVITY | $144,326 |