Fund For Advancement Of Medical Education And Research
- Assets
- $3.8m
- Revenue
- $534.8k
- Investments
- $2.8m
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 04/1986
- Data as of
- 06/2022
- EIN
- 36-3432018
Organization Overview
Fund For Advancement Of Medical Education And Research is located in Sioux Falls, SD. The organization was established in 1986. 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. Fund For Advancement Of Medical Education And Research 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 06/2022, Fund For Advancement Of Medical Education And Research generated $534.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.8%) each year. All expenses for the organization totaled $348.0k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST THE UNIVERSITY OF SOUTH DAKOTA SANFORD SCHOOL OF MEDICINE AND ITS FACULTY TO MEET THE SCHOOL'S PRIMARY GOALS OF RESEARCH, EDUCATION, AND PATIENT CARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORS SEMINARS AND OTHER EDUCATIONAL EVENTS TO SUPPORT THE UNIVERSITY OF SOUTH DAKOTA SANFORD SCHOOL OF MEDICINE THROUGH RESEARCH, EDUCATION, AND PATIENT CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Timmerman MD Secretary | OfficerTrustee | 1 | $0 |
Keith Hansen MD Vice President | OfficerTrustee | 1 | $0 |
Tim Ridgway MD President | OfficerTrustee | 1 | $0 |
Timothy Soundy MD Treasurer | OfficerTrustee | 1 | $0 |
Ashley Bacoulis Fin & Admin Serv Spec-Began 04/2022 | Officer | 4 | $0 |
Michelle Mashlan Director Of Finance Until 03/2022 | Officer | 4 | $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 | $368,667 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $368,667 |
| Total Program Service Revenue | $110,324 |
| Investment income | $20,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,906 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $534,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,850 |
| 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 | $0 |
| Fees for services: Accounting | $2,519 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,909 |
| Fees for services: Other | $178,550 |
| Advertising and promotion | $0 |
| Office expenses | $4,661 |
| Information technology | $2,256 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,719 |
| 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 | $59,660 |
| Insurance | $2,365 |
| All other expenses | $2,580 |
| Total functional expenses | $347,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,221 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,392 |
| 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 | $3,373 |
| Net Land, buildings, and equipment | $949,993 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,823,094 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,786,073 |
| Accounts payable and accrued expenses | $2,586 |
| 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 | $2,586 |
| Net assets without donor restrictions | $1,740,765 |
| Net assets with donor restrictions | $2,042,722 |
| 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 | $3,786,073 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fund For Advancement Of Medical Education And Research has recieved totaling $56,285.
| Awarding Organization | Amount |
|---|---|
University Of South Dakota Foundation Vermillion, SD PURPOSE: PROGRAM SUPPORT | $56,285 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Health Care Foundation Minneapolis, MN | $90,729,243 | $25,438,436 |
Wyoming Medical Center Foundation Casper, WY | $297,053,839 | $17,341,207 |
Iowa Health Foundation Des Moines, IA | $224,193,770 | $32,909,877 |
Great River Health System Inc West Burlington, IA | $45,236,336 | $11,348,232 |
Clarkson Regional Health Services Inc Omaha, NE | $904,409,181 | $106,113,529 |
Mercy Foundation Of Des Moines Iowa Des Moines, IA | $72,079,814 | $11,993,555 |
Sanford Health Foundation North Sioux Falls, SD | $106,387,743 | $12,791,067 |
Headwaters Health Foundation Of Western Montana Missoula, MT | $106,148,941 | $5,570,203 |
Dakota Medical Foundation Fargo, ND | $43,203,440 | $5,722,440 |
Gillette Childrens Hospital Foundation St Paul, MN | $41,489,322 | $14,728,152 |
Lifescape Sioux Falls, SD | $318,250 | $4,148,590 |
Benedictine Foundation Minneapolis, MN | $15,163,836 | $4,052,107 |