South Bend Medical Foundation Inc
- Assets
- $49.2m
- Revenue
- $18.4m
- Investments
- $0.0
- Employees
- 179
- Location
- South Bend, IN
- Founding
- 09/1949
- Data as of
- 12/2023
- EIN
- 35-0868178
Organization Overview
South Bend Medical Foundation Inc, operating under the name The Medical Foundation, is located in South Bend, IN. The organization was established in 1949. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Medical Foundation employed 179 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical 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, Medical Foundation generated $18.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (18.2%) each year. All expenses for the organization totaled $23.1m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (15.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH-QUALITY PATHOLOGY AND BLOOD SERVICES TO THOSE WE SERVE, KEEPING IN MIND THERE IS A LIFE BEHIND EVERYTHING WE DO.
Describe the Organization's Program Activity:
SOUTH BEND MEDICAL FOUNDATION, INC. (THE FOUNDATION), PROVIDES PATHOLOGY SERVICES FOR PATIENTS AND DOCTORS THROUGHOUT NORTHERN AND CENTRAL INDIANA AND SOUTHWESTERN MICHIGAN WITH A CONCENTRATION OF REVENUES FROM HOSPITALS LOCATED IN THE SURROUNDING AREAS. THE FOUNDATION ALSO HAS A BLOOD BANK LINE OF BUSINESS WHERE BLOOD IS DONATED BY VOLUNTEERS AND SUBSEQUENTLY PROCESSED AND SOLD TO LOCAL HOSPITALS IN THE SURROUNDING AREAS. THE FOUNDATION PROVIDES ASSISTANCE TO INDIVIDUALS IN THE FORM OF FREE OR REDUCED FEE MEDICAL CARE AT VARIOUS LOCATIONS THROUGHOUT THE COMMUNITIES SERVED. THESE INDIVIDUALS MEET SBMF'S CHARITY CARE ELIGIBILITY REQUIREMENTS, OR THE REQUIREMENTS OF THE REFERRING HEALTH CARE PROVIDER. DURING 2023, THE FOUNDATION PROVIDED $39,158 IN PATIENT MEDICAL ASSISTANCE.THE FOUNDATION ALSO PROVIDES DISCOUNTS FOR PAYMENT AT TIME OF SERVICE TO PATIENTS WHO DO NOT HAVE GOVERNMENT PROVIDED INSURANCE COVERAGE OR DO NOT WISH TO HAVE A CLAIM FILLED WITH THEIR COMMERCIAL INSURANCE CARRIER. DURING 2023, THE FOUNDATION PROVIDED $63,982 IN TIME OF SERVICE DISCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Al Harding MD Chairman | OfficerTrustee | 1 | $0 |
Shery Roussaire Treasurer | OfficerTrustee | 1 | $0 |
Nita Gerig MD Secretary | OfficerTrustee | 32 | $321,772 |
Michael Blakesley MD Board Member | Trustee | 1 | $0 |
James Kelly MD Board Member | Trustee | 1 | $0 |
Carlton Lyons MD Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Versiti Blood Center Of Indiana Blood Testing & Medical Director | 12/30/23 | $1,282,236 |
Us Pack Med Llc Courier Services | 12/30/23 | $850,432 |
Novopath Llc Pathology Lis | 12/30/23 | $209,604 |
Anh Medical Pllc Locum Tenens - Dr. Fakharany | 12/30/23 | $168,153 |
Triage Llc Temporary Labor | 12/30/23 | $126,074 |
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 | $2,946 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,946 |
| Total Program Service Revenue | $16,655,340 |
| Investment income | $660,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $136,975 |
| Net Gain/Loss on Asset Sales | -$866,533 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,443,942 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,290 |
| 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. | $1,327,395 |
| Compensation of current officers, directors, key employees. | $50,184 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,505,533 |
| Pension plan accruals and contributions | $47,697 |
| Other employee benefits | $1,590,800 |
| Payroll taxes | $658,817 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,735 |
| Fees for services: Accounting | $95,914 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,365,388 |
| Advertising and promotion | $34,503 |
| Office expenses | $591,759 |
| Information technology | $350,588 |
| Royalties | $0 |
| Occupancy | $1,259,188 |
| Travel | $154,526 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,689 |
| Interest | $632,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $655,452 |
| Insurance | $376,674 |
| All other expenses | $52,310 |
| Total functional expenses | $23,091,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $824,022 |
| Savings and temporary cash investments | $452,321 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,495,008 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $12,050 |
| Inventories for sale or use | $389,899 |
| Prepaid expenses and deferred charges | $353,544 |
| Net Land, buildings, and equipment | $17,645,984 |
| Investments—publicly traded securities | $25,379,175 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,670,707 |
| Total assets | $49,222,710 |
| Accounts payable and accrued expenses | $1,804,149 |
| 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 | $10,785,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,322,481 |
| Total liabilities | $13,912,492 |
| Net assets without donor restrictions | $35,310,218 |
| Net assets with donor restrictions | $0 |
| 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 | $49,222,710 |
Grants Awarded
Over the last fiscal year, South Bend Medical Foundation Inc has awarded $30,300 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: GENERAL ASSISTANCE | $5,600 |
AMERICAN HEART ASSOCIATION PURPOSE: GENERAL ASSISTANCE | $10,000 |
THE FOUNDATION OF SAINT JOSEPH HEALTH SYSTEM PURPOSE: GENERAL ASSISTANCE | $8,700 |
UNITED WAY OF SAINT JOSEPH COUNTY PURPOSE: GENERAL ASSISTANCE | $6,000 |