Mary Free Bed Orthotics And Prosthetics
- Assets
- $17.4m
- Revenue
- $20.3m
- Investments
- $0.0
- Employees
- 153
- Location
- Grand Rapids, MI
- Founding
- 03/1987
- Data as of
- 03/2023
- EIN
- 38-2643391
Organization Overview
Mary Free Bed Orthotics And Prosthetics, operating under the name Mary Free Bed Orthotics Prosthetics And Bionics, is located in Grand Rapids, MI. The organization was established in 1987. According to its NTEE Classification (G90) the organization is classified as: Medical Disciplines, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 03/2023, Mary Free Bed Orthotics Prosthetics And Bionics employed 153 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mary Free Bed Orthotics Prosthetics And Bionics 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 03/2023, Mary Free Bed Orthotics Prosthetics And Bionics generated $20.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $19.8m during the year ending 03/2023. While expenses have increased by 9.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RESTORE INDEPENDENCE, HOPE AND FREEDOM TO PEOPLE NEEDING ORTHOTIC, PROSTHETIC, SEATING AND ADAPTIVE EQUIPMENT. WE SEEK EXCELLENCE THROUGH INNOVATION, LEADERSHIP AND ADVOCACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVICES INCLUDE THE FITTING, DESIGNING AND FABRICATION OF ORTHOTIC AND PROSTHETIC DEVICES FOR PHYSICALLY AFFECTED INDIVIDUALS. 3,975 PATIENT TRANSACTIONS FOR FISCAL YEAR 3/31/2023.
JOINT VENTURES - PROVIDING SERVICES TO PEOPLE NEEDING ORTHOTIC, PROSTHETIC, AND SEATING AND ADAPTIVE EQUIPMENT. 3,468 PATIENT TRANSACTIONS FOR FISCAL YEAR 3/31/2023
SERVICES INCLUDE THE FITTING, DESIGNING, FABRICATION AND INSTALLATION OF WHEELCHAIR SEATING AND ASSISTIVE TECHNOLOGY DEVICES.516 PATIENT TRANSACTIONS FOR FISCAL YEAR 3/31/2023.
SATELLITE CLINICS - PROVIDING SERVICES TO PEOPLE NEEDING ORTHOTIC, PROSTHETIC, AND SEATING AND ADAPTIVE EQUIPMENT.7,004 PATIENT TRANSACTIONS FOR FISCAL YEAR 3/31/2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Riddle CEO | OfficerTrustee | 1 | $0 |
Dr Michael Jakubowski MD Director | Trustee | 1 | $0 |
Dr Benjamin Bruinsma MD Director | Trustee | 1 | $0 |
David Muir Chairman | OfficerTrustee | 1 | $0 |
Molly Krauss Vice Chairman (thru 5/22) | OfficerTrustee | 1 | $0 |
Amy Stuursma Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $22,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,436 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,936 |
| Total Program Service Revenue | $20,504,537 |
| Investment income | $36,065 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$267,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,297,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $190,778 |
| Compensation of current officers, directors, key employees. | $190,778 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,663,125 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,512,945 |
| Payroll taxes | $574,900 |
| Fees for services: Management | $315,000 |
| Fees for services: Legal | $50,330 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $3,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,213,183 |
| Advertising and promotion | $73,667 |
| Office expenses | $81,648 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $565,490 |
| Travel | $137,842 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,870 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $345,795 |
| Insurance | $74,305 |
| All other expenses | $93,296 |
| Total functional expenses | $19,775,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,689,141 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,490,951 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $732,098 |
| Prepaid expenses and deferred charges | $36,091 |
| Net Land, buildings, and equipment | $3,391,705 |
| Investments—publicly traded securities | $4,914,249 |
| Investments—other securities | $0 |
| Investments—program-related | $283,478 |
| Intangible assets | $2,659,865 |
| Other assets | $193,135 |
| Total assets | $17,390,713 |
| Accounts payable and accrued expenses | $1,362,181 |
| 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 | $350,626 |
| Total liabilities | $1,712,807 |
| Net assets without donor restrictions | $15,677,906 |
| 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 | $17,390,713 |
Grants Awarded
Over the last fiscal year, Mary Free Bed Orthotics And Prosthetics has awarded $1,137,760 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MARY FREE BED FUND PURPOSE: GENERAL SUPPORT | $1,097,871 |
MARY FREE BED REHABILITATION HOSPITAL PURPOSE: GENERAL SUPPORT | $39,889 |