The Blessing Foundation Inc
- Assets
- $76.7m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Quincy, IL
- Founding
- 10/1983
- Data as of
- 09/2022
- EIN
- 37-1128705
Organization Overview
The Blessing Foundation Inc is located in Quincy, IL. The organization was established in 1983. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Blessing 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 09/2022, Blessing Foundation Inc generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $4.4m during the year ending 09/2022. While expenses have increased by 7.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
FOUNDED IN 1983, THE BLESSING FOUNDATION RAISES, MAINTAINS, AND DISBURSES CHARITABLY DONATED FUNDS FOR THE BENEFIT OF BLESSING HEALTH SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSES FOR WHICH THE BLESSING FOUNDATION, INC. IS ORGANIZED ARE EXCLUSIVELY CHARITABLE, SCIENTIFIC, OR EDUCATIONAL WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. IN FURTHERANCE OF THESE PURPOSES, THE CORPORATION SHALL PROMOTE AND SUPPORT, BY DONATION, LOAN OR OTHERWISE, THE INTERESTS AND PURPOSES OF BLESSING HOSPITAL, BLESSING CORPORATE SERVICES, INC., BLESSINGCARE CORPORATION DBA ILLINI COMMUNITY HOSPITAL, OR OTHER ORGANIZATIONS WHICH PROVIDE HEALTH CARE OR CONDUCT EDUCATION OR RESEARCH, PROVIDED, HOWEVER, THAT ANY SUCH ORGANIZATION SUPPORTED BY THE CORPORATION SHALL IN ALL EVENTS NOT BE A PRIVATE FOUNDATION AND BE AS DEFINED IN SECTION 501(C)(3) AND EITHER SECTION 509(A)(1) OR SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; AND THE CORPORATION SHALL RAISE FUNDS FOR ANY OR ALL OF THE ORGANIZATIONS DESCRIBED ABOVE FROM THE PUBLIC AND FROM ALL OTHER SOURCES AVAILABLE, AND SHALL RECEIVE, MAINTAIN, AND ADMINISTER SUCH FUNDS AND EXPEND PRINCIPAL AND INCOME THEREFROM IN FURTHERANCE OF THESE PURPOSES. THE FOLLOWING LISTS SPECIFIC EXPENDITURES IN REGARDS TO THE PURPOSE LISTED ABOVE. BLESSING HOSPITAL - FINANCIAL AID FOR STUDENT NURSES OF 1,200,000 BLESSING-RIEMAN COLLEGE OF NURSING BLESSING HOSPITAL - TERESA ADAMS HOUSE CAPITAL CAMPAIGN 852,392 ILLINI COMMUNITY HOSPITAL - MOBILE HEALTH CLINIC 364,250 BLESSING HOSPITAL - HOSPICE AND PALLIATIVE CARE 138,000 BLESSING HOSPITAL - EMPLOYEE CRISIS/CARING CLUB FUND 111,877 BLESSING HOSPITAL - STUDENT WORKER SUPPORT FOR BLESSING- 75,000 RIEMAN COLLEGE OF NURSING BLESSING HOSPITAL - APPLIED RESEARCH FOR BLESSING-RIEMAN 30,000 COLLEGE OF NURSING BLESSING HOSPITAL - FACULTY AND EMPLOYEE DEVELOPMENT FOR 18,000 BLESSING-RIEMAN COLLEGE OF NURSING BLESSING HOSPITAL - ECG DYSRYTHMIA MONITORING COURSE 16,950 BLESSING HOSPITAL - SIMTICS SOFTWARE FOR RADIOLOGIC SCIENCES 9,950 PROGRAM FOR BLESSING-RIEMAN COLLEGE OF NURSING BLESSING HOSPITAL - REHABILITATION INTERN PROGRAM 7,800 QUINCY UNIVERSITY - FRANCES WATERKOTTE GRANT 600 BLESSING HOSPITAL - CARING CUPBOARD FOR BLESSING-RIEMAN 235 COLLEGE OF NURSING TOTAL 2,825,054
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maureen A Kahn Trustee | Trustee | 1 | $0 |
Patrick M Gerveler President | OfficerTrustee | 1 | $0 |
Timothy A Moore Treasurer/v. | Officer | 1 | $0 |
Mary Ann Dickson Secretary | OfficerTrustee | 1 | $0 |
Laura Gerdes Ehrhart Trustee | Trustee | 1 | $0 |
Phyllis J Hofmeister Trustee | Trustee | 1 | $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 | $1,433,201 |
| Noncash contributions included in lines 1a–1f | $103,490 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,433,201 |
| Total Program Service Revenue | $0 |
| Investment income | $1,106,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,716,129 |
| Net Gain/Loss on Asset Sales | $1,318,151 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,576,833 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,825,054 |
| 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 | $13,912 |
| Fees for services: Accounting | $13,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $177,029 |
| Fees for services: Other | $313 |
| Advertising and promotion | $100,850 |
| Office expenses | $13,958 |
| Information technology | $11,975 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $868,837 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,416,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,679,173 |
| Pledges and grants receivable | $559,564 |
| Accounts receivable, net | $121,704 |
| 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 | $37,591,506 |
| Investments—publicly traded securities | $36,717,297 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,368 |
| Total assets | $76,709,612 |
| Accounts payable and accrued expenses | $235,318 |
| Grants payable | $0 |
| Deferred revenue | $14,336 |
| Tax-exempt bond liabilities | $25,169,848 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,114,493 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $102,458 |
| Total liabilities | $32,636,453 |
| Net assets without donor restrictions | $35,323,628 |
| Net assets with donor restrictions | $8,749,531 |
| 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 | $76,709,612 |
Grants Awarded
Over the last fiscal year, The Blessing Foundation Inc has awarded $2,824,454 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BLESSING HOSPITAL PURPOSE: GENERAL PROGRAM NEED | $2,460,204 |
BLESSINGCARE CORP DBA ILLINI PURPOSE: MOBILE HEALTH CLINIC | $364,250 |