Beaumont Health Foundation
- Assets
- $197.8m
- Revenue
- $35.7m
- Investments
- $55.3m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 36-4852171
Organization Overview
Beaumont Health Foundation is located in Grand Rapids, MI. The organization was established in 2017. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Beaumont Health 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 12/2022, Beaumont Health Foundation generated $35.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $29.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Beaumont Health Foundation has awarded 18 individual grants totaling $80,668,141. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BEAUMONT HEALTH FOUNDATION EXISTS EXCLUSIVELY FOR THE PURPOSE OF SECURING PHILANTHROPIC GIFTS
Describe the Organization's Program Activity:
THE BEAUMONT FOUNDATION EXISTS EXCLUSIVELY FOR THE PURPOSE OF SECURING PHILANTHROPIC GIFTS AND GRANTS TO FURTHER THE CHARITABLE PURPOSES OF BEAUMONT HEALTH, TO ADVANCE HIGH QUALITY HEALTH CARE FOR THE BENEFIT OF ALL MEMBERS OF THE COMMUNITIES IT SERVES AND TO SUPPORT BEAUMONT HEALTH'S NONPROFIT MISSION TO PROVIDE COMPASSIONATE, EXTRAORDINARY CARE EVERY DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Fox Ex-Officio Part Year | Trustee | 2 | $0 |
Margaret Cooney - Casey Director/president | OfficerTrustee | 50 | $0 |
Benjamin Schwartz MD Ex-Officio Part Year | Trustee | 2 | $0 |
Christopher Flores Finance VP | Officer | 50 | $0 |
Richard Daly Former Hce | 50 | $0 | |
Thomas Mcgannon Former Hce | 50 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,257,634 |
| Membership dues | $0 |
| Fundraising events | $1,900,531 |
| Related organizations | $0 |
| Government grants | $499,795 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,181,670 |
| Noncash contributions included in lines 1a–1f | $738,321 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,839,630 |
| Total Program Service Revenue | $0 |
| Investment income | $40 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,150,181 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,689,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,741,160 |
| Grants and other assistance to domestic individuals. | $691,204 |
| 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 | $4,436,491 |
| Pension plan accruals and contributions | $187,037 |
| Other employee benefits | $909,145 |
| Payroll taxes | $325,806 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,300 |
| 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 | $872,468 |
| Advertising and promotion | $257,167 |
| Office expenses | $1,335,269 |
| Information technology | $165,912 |
| Royalties | $0 |
| Occupancy | $235,508 |
| Travel | $346,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $262,148 |
| Interest | $1,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $63,127 |
| Insurance | $3,616 |
| All other expenses | $0 |
| Total functional expenses | $29,477,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $127,112,972 |
| Pledges and grants receivable | $14,881,615 |
| 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 | $305,112 |
| Net Land, buildings, and equipment | $200,615 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $55,284,650 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,344 |
| Total assets | $197,846,308 |
| Accounts payable and accrued expenses | $272,024 |
| 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 | $272,024 |
| Net assets without donor restrictions | $49,967,042 |
| Net assets with donor restrictions | $147,607,241 |
| 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 | $197,846,308 |
Grants Awarded
Over the last fiscal year, Beaumont Health Foundation has awarded $15,741,160 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WILLIAM BEAUMONT HOSPITAL PURPOSE: GENERAL ASSISTANCE | $11,582,044 |
OAKWOOD HEALTHCARE INC PURPOSE: GENERAL ASSISTANCE | $4,110,489 |
BOTSFORD GENERAL HOSPITAL PURPOSE: GENERAL ASSISTANCE | $48,627 |