Mary Free Bed Guild Fund
- Assets
- $40.3m
- Revenue
- $598.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 03/1987
- Data as of
- 03/2023
- EIN
- 38-2643392
Organization Overview
Mary Free Bed Guild Fund is located in Grand Rapids, MI. The organization was established in 1987. 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. Mary Free Bed Guild Fund 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 Guild Fund generated $598.1k 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 (10.9%) each year. All expenses for the organization totaled $2.2m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Mary Free Bed Guild Fund has awarded 121 individual grants totaling $13,131,080. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SUPPORT OF CHARITABLE HEALTHCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS TO MARY FREE BED GUILD, MARY FREE BED REHABILITATION HOSPITAL, ASSOCIATION FOR THE BLIND AN VISUALLY IMPAIRED, MARY FREE BED FOUNDATION, AND MARY FREE BED ORTHOTICS AND PROSTHETICS (ALL 501(C)(3) CORPORATIONS) TO COVER COSTS OF MEDICAL SERVICES AND PROGRAMS; EQUIPMENT AND ADAPTIVE DEVICES FOR PATIENTS; PROVIDE GRANTS TO VARIOUS COMMUNITY ORGANIZATIONS TO IMPROVE THE WELFARE OF THE PHYSICALLY DISABLED AND THE GENERAL HEALTH OF THE COMMUNITY.
TO PROVIDE SPACE, EQUIPMENT, AND OUTDOOR THERAPY AREA FOR MARY FREE BED REHABILITATION HOSPITAL AND MARY FREE BED ORTHOTICS AND PROSTHETICS (BOTH 501(C)(3) CORPORATIONS) STAFF AND PATIENTS.
PROVIDE SPECIFIC ASSISTANCE TO FAMILIES AND DISABLED FAMILY MEMBERS TO HELP COVER COSTS OF EQUIPMENT, MEDICAL CARE, ORTHOTIC AND PROSTHETIC DEVICES, SEATING SYSTEMS, RECREATION, LODGING SUBSIDIES FOR OUT-OF-TOWN FAMILIES, ADAPTIVE BICYCLES, AND SCHOLARSHIPS TO MINORITY STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Taylor President/chairperson | OfficerTrustee | 1 | $0 |
Linda Edgar Secretary | OfficerTrustee | 1 | $0 |
Sue Kinsler Treasurer | OfficerTrustee | 1 | $0 |
Judy Palmer Ex-Officio | Trustee | 1 | $0 |
Gail Vedro Director | Trustee | 1 | $0 |
Susan Bloss Ex-Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $12,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $145,186 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $157,186 |
| Total Program Service Revenue | $170,592 |
| Investment income | $648,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,671 |
| Net Gain/Loss on Asset Sales | -$424,590 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $598,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $588,294 |
| Grants and other assistance to domestic individuals. | $275,602 |
| 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 | $12,260 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,720 |
| Fees for services: Accounting | $80,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $162,293 |
| Fees for services: Other | $27,961 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $16,000 |
| Royalties | $0 |
| Occupancy | $12,359 |
| Travel | $0 |
| 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 | $972,706 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,169,597 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $379,421 |
| Savings and temporary cash investments | $99,836 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,609 |
| 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 | $13,501,539 |
| Investments—publicly traded securities | $26,263,835 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,340,240 |
| Accounts payable and accrued expenses | $73,696 |
| 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 | $115,989 |
| Total liabilities | $189,685 |
| Net assets without donor restrictions | $40,054,117 |
| Net assets with donor restrictions | $96,438 |
| 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 | $40,340,240 |
Grants Awarded
Over the last fiscal year, Mary Free Bed Guild Fund has awarded $549,701 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MARY FREE BED REHABILITATION HOSPITAL PURPOSE: PROGRAM SUPPORT | $316,966 |
MARY FREE BED ORTHOTICS & PROSTHETICS PURPOSE: PROGRAM SUPPORT | $14,956 |
MARY FREE BED REHABILITATION HOSPITAL FOUNDATION PURPOSE: ANNUAL GALA SUPPORT AND CONTRIBUTION FOR HOSPITAL EQUIPMENT | $28,784 |
ALTERNATIVES IN MOTION PURPOSE: PROGRAM SUPPORT | $30,000 |
DISABILITY ADVOCATES OF KENT COUNTY PURPOSE: PROGRAM SUPPORT | $15,000 |
EQUESTRIAN CENTER PURPOSE: PROGRAM SUPPORT | $17,500 |