Sparrow Foundation
- Assets
- $36.9m
- Revenue
- $14.0m
- Investments
- $2.0m
- Employees
- 0
- Location
- Lansing, MI
- Founding
- 05/1965
- Data as of
- 12/2022
- EIN
- 38-6100687
Organization Overview
Sparrow Foundation is located in Lansing, MI. The organization was established in 1965. 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. Sparrow 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, Sparrow Foundation generated $14.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $4.5m during the year ending 12/2022. While expenses have increased by 4.1% 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.
Since 2014, Sparrow Foundation has awarded 17 individual grants totaling $23,966,207. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FOUNDATION IS TO OPERATE FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF THE NONPROFIT AND TAX-EXEMPT SUBSIDIARIES OF SPARROW HEALTH SYSTEM, A MICHIGAN NONPROFIT CORPORATION ("SHS- OR "SOLE MEMBER"), AND ITS MISSION TO IMPROVE THE HEALTH OF THE PEOPLE IN OUR COMMUNITY BY PROVIDING QUALITY, COMPASSIONATE CARE TO EVERYONE, EVERY TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AT THE SPARROW FOUNDATION, WE FOSTER AND CREATE STRONG COMMUNITY PARTNERSHIPS THAT HELP SPARROW HEALTH SYSTEM UPHOLD ITS COMMITMENT TO PROVIDING EXCEPTIONAL CARE CLOSE TO HOME, NO MATTER LIFE'S CIRCUMSTANCES. FOR MORE THAN 60 YEARS, THE SPARROW FOUNDATION HAS INSPIRED PHILANTHROPY TO STRENGTHEN THE HEALTH OF OUR COMMUNITIES. WITH CONTINUED GROWTH OF SPARROW TO BEST MEET COMMUNITY NEEDS, THE FOUNDATION HAS ALSO GROWN. WE'RE PROUD TO BE THE HUB OF CHARITABLE GIVING FOR SPARROW, WORKING WITH INDIVIDUAL AND CORPORATE DONORS WHO GIVE TO HELP MAKE VITAL INVESTMENTS IN FACILITIES, EQUIPMENT, TECHNOLOGY, EDUCATION, PROGRAMS AND RESOURCES THAT SUPPORT OUR PATIENTS, THEIR FAMILIES, AND OUR TEAMS DELIVERING CARE ACROSS OUR HOSPITALS AND OTHER SITES OF CARE SPANNING THE REGION. IN 2022, FUNDING OF THESE NEEDS WAS NEARLY 2M.
THE CARE FOR THE CAREGIVERS FUND OF THE SPARROW FOUNDATION WAS ESTABLISHED MORE THAN 30 YEARS AGO TO SUPPORT SPARROW CAREGIVERS IN CRISIS OR WHO ARE EXPERIENCING A CATASTROPHIC NEED. IN 2022, 164 REQUESTS FOR SUPPORT WERE FUNDED. WE ARE PROUD TO SUPPORT OUR COLLEAGUES - FRONTLINE HEALTHCARE HEROES - THROUGH DIFFICULT TIMES VIA THESE GRANTS AND ALLOCATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James F Dover President/ce | OfficerTrustee | 1 | $0 |
Joseph Ruth Exec Vp/coo | 0 | $0 | |
Thomas Bres Srvp/cao/cio | OfficerTrustee | 1 | $0 |
Paula Reichle Sr VP - CFO | Officer | 1 | $0 |
William Howe VP Finance/t | OfficerTrustee | 1 | $0 |
Michelle Reynaert VP Sparrow F | OfficerTrustee | 40 | $269,942 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,403 |
| Membership dues | $0 |
| Fundraising events | $837,478 |
| Related organizations | $17,207 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,493,865 |
| Noncash contributions included in lines 1a–1f | $5,387,774 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,349,953 |
| Total Program Service Revenue | $0 |
| Investment income | $417,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,455,226 |
| Net Income from Fundraising Events | -$191,871 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,030,550 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,977,591 |
| Grants and other assistance to domestic individuals. | $167,967 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $322,454 |
| Compensation of current officers, directors, key employees. | $257,963 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $633,315 |
| Pension plan accruals and contributions | $59,681 |
| Other employee benefits | $111,913 |
| Payroll taxes | $64,341 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,739 |
| Fees for services: Other | $386,406 |
| Advertising and promotion | $1,500 |
| Office expenses | $11,660 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,911 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,710 |
| Insurance | $2,970 |
| All other expenses | $691,021 |
| Total functional expenses | $4,496,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,933,289 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,561,879 |
| 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 | $0 |
| Net Land, buildings, and equipment | $140,366 |
| Investments—publicly traded securities | $21,252,219 |
| Investments—other securities | $1,984,818 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,102 |
| Total assets | $36,896,673 |
| Accounts payable and accrued expenses | $65,878 |
| Grants payable | $0 |
| Deferred revenue | $79,800 |
| 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 | $1,379,644 |
| Total liabilities | $1,525,322 |
| Net assets without donor restrictions | -$5,385,373 |
| Net assets with donor restrictions | $40,756,724 |
| 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 | $36,896,673 |
Grants Awarded
Over the last fiscal year, Sparrow Foundation has awarded $1,912,629 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EDWARD W SPARROW HOSPITAL PURPOSE: OPER/EQUIP/EDUC/ETC | $1,752,785 |
SPARROW CARSON HOSPITAL PURPOSE: OPER/EQUIP/EDUC/ETC | $42,233 |
SPARROW IONIA HOSPITAL PURPOSE: OPER/EQUIP/EDUC/ETC | $19,479 |
SPARROW EATON HOSPITAL PURPOSE: OPER/EQUIP/EDUC/ETC | $98,132 |