Beloit Health System Foundation Inc
- Assets
- $16.3m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Beloit, WI
- Founding
- 09/1984
- Data as of
- 12/2021
- EIN
- 39-1477854
Organization Overview
Beloit Health System Foundation Inc is located in Beloit, WI. The organization was established in 1984. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Beloit Health System 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 12/2021, Beloit Health System Foundation Inc generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BELOIT HEALTH SYSTEM FOUNDATION, INC. IS THE DEVELOPMENT, MANAGEMENT AND DISTRIBUTION OF GIFTS TO ASSIST BELOIT HEALTH SYSTEM IN PROVIDING EXCELLENCE IN HEALTH CARE FOR THE STATELINE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTIONS TO BELOIT HEALTH SYSTEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tami Scarpetta Executive Director / Board Member | OfficerTrustee | 0 | $0 |
Timothy Mckevett Board Member | Trustee | 0 | $0 |
Nicole Kovarik Board Member | Trustee | 0 | $0 |
Mark Leach Vice Chairman | Trustee | 0 | $0 |
Dennis Conerton Chair | Trustee | 0 | $0 |
Derek Hahn Treasurer | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $204,135 |
| Related organizations | $0 |
| Government grants | $1,644,450 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,848,585 |
| Total Program Service Revenue | $0 |
| Investment income | $1,113,183 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,961,768 |
| 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. | $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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,630 |
| Fees for services: Other | $90,325 |
| Advertising and promotion | $32,501 |
| Office expenses | $7,441 |
| 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 | $493 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $205,681 |
| Total functional expenses | $1,622,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,868,829 |
| Pledges and grants receivable | $1,603,475 |
| 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 | $0 |
| Investments—publicly traded securities | $12,075,431 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $765,674 |
| Total assets | $16,313,409 |
| Accounts payable and accrued expenses | $48,168 |
| 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 | $48,168 |
| Net assets without donor restrictions | $6,466,132 |
| Net assets with donor restrictions | $9,799,109 |
| 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 | $16,313,409 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Beloit Health System Foundation Inc has recieved totaling $342,143.
| Awarding Organization | Amount |
|---|---|
Hendricks Family Foundation Inc Beloit, WI PURPOSE: FAMILY CARE CENTER RENOVATION | $200,000 |
Regal-Beloit Charitable Foundation Beloit, WI PURPOSE: FAMILY CARE CENTER, HEART CENTER, 2021 PRO AM | $87,500 |
Melvin & Mary Palmer Charitable Tr Chicago, IL PURPOSE: PROGRAM SUPPORT | $30,142 |
Independent Charitable Gift Fund Hudson, OH PURPOSE: GENERAL SUPPORT | $10,000 |
Frontstream Global Fund Alexandria, VA PURPOSE: Use by the organization's general fund | $8,601 |
Bradley Impact Fund Inc Milwaukee, WI PURPOSE: GENERAL CHARITABLE PURPOSES | $5,500 |
Endowment Analysis
| Beg. Balance | $6,820,479 |
| Earnings | $559,215 |
| Net Contributions | $30,741 |
| Grants | $2,861 |
| Ending Balance | $7,407,574 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Prairie Ridge Hospital And Health Services Inc Elbow Lake, MN | $34,170,156 | $18,758,462 |
Madelia Health Madelia, MN | $18,855,648 | $18,531,553 |
Alegent Health Mercy Hospital Corning, IA | $35,243,438 | $19,692,764 |
Aspirus Stanley Hospital & Clinics Inc Wausau, WI | $10,927,612 | $20,966,048 |
Community Hospital Of Staunton Staunton, IL | $32,595,948 | $20,788,343 |
Kittson Memorial Hospital Association Hallock, MN | $15,018,635 | $22,486,843 |
Genesis Medical Center Aledo Aledo, IL | $16,196,609 | $17,740,710 |
Lake View Memorial Hospital Inc Two Harbors, MN | $43,364,236 | $20,715,565 |
Hshs Good Shepherd Hospital Inc Shelbyville, IL | $31,163,416 | $16,379,613 |
Caro Community Hospital Caro, MI | $10,951,457 | $15,571,045 |
Harbor Beach Community Hospital Inc Harbor Beach, MI | $11,834,648 | $18,751,051 |