Mary Free Bed Rehabilitation Hospital Foundation
- Assets
- $19.5m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 01/2013
- Data as of
- 03/2022
- EIN
- 46-1164285
Organization Overview
Mary Free Bed Rehabilitation Hospital Foundation is located in Grand Rapids, MI. The organization was established in 2013. 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 Rehabilitation Hospital 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 03/2022, Mary Free Bed Rehabilitation Hospital Foundation generated $4.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $3.3m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 years. 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
TO RECEIVE AND ADMINISTER FUNDS FOR MARY FREE BED REHABILITATION HOSPITAL, A CHARITABLE ORGANIZATION, IN ORDER TO RAISE FUNDS FOR CAPITAL, EXPANSION, AND PROGRAM IMPROVEMENTS OF THE HOSPITAL AND RELATED TAX EXEMPT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO RECEIVE AND ADMINISTER FUNDS FOR MARY FREE BED REHABILITATION HOSPITAL, A CHARITABLE ORGANIZATION, IN ORDER TO RAISE FUNDS FOR CAPITAL, EXPANSION, AND PROGRAM IMPROVEMENTS OF THE HOSPITAL AND RELATED TAX EXEMPT ORGANIZATIONS.
TO RECEIVE AND ADMINISTER FUNDS FOR MARY FREE BED REHABILITATION HOSPITAL, A CHARITABLE ORGANIZATION, IN ORDER TO RAISE FUNDS AND SUPPORT EMPLOYEES OF MARY FREE BED REHABILITATION HOSPITAL WHO ENCOUNTER FINANCIAL HARDSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Riddle President | OfficerTrustee | 1 | $0 |
Timothy Arter Chairman Of The Board | OfficerTrustee | 1 | $0 |
Nathaniel Guzman Treasurer (non Voting) | Officer | 1 | $0 |
Timothy Pietryga Secretary (non Voting) | Officer | 40 | $0 |
Dr Michael Jakubowski MD Trustee | Trustee | 1 | $0 |
Diane Vander Maas Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $182,330 |
| Related organizations | $26,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,460,374 |
| Noncash contributions included in lines 1a–1f | $346,137 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,668,704 |
| Total Program Service Revenue | $0 |
| Investment income | $184,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,189 |
| Net Income from Fundraising Events | $290,301 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,137,162 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,772,205 |
| Grants and other assistance to domestic individuals. | $169,023 |
| 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 | $793,459 |
| Pension plan accruals and contributions | $20,365 |
| Other employee benefits | $113,863 |
| Payroll taxes | $60,700 |
| Fees for services: Management | $75,000 |
| Fees for services: Legal | $23,519 |
| Fees for services: Accounting | $20,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89,426 |
| Fees for services: Other | $15,190 |
| Advertising and promotion | $60,706 |
| Office expenses | $3,166 |
| Information technology | $51,399 |
| Royalties | $0 |
| Occupancy | $28,400 |
| Travel | $642 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,086 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,539 |
| All other expenses | $0 |
| Total functional expenses | $3,340,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,641,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,764,801 |
| Accounts receivable, net | $103,132 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,929 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,991,895 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,514,518 |
| Accounts payable and accrued expenses | $97,832 |
| Grants payable | $0 |
| Deferred revenue | $43,610 |
| 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 | $4,967,351 |
| Total liabilities | $5,108,793 |
| Net assets without donor restrictions | $5,482,842 |
| Net assets with donor restrictions | $8,922,883 |
| 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 | $19,514,518 |
Grants Awarded
Over the last fiscal year, Mary Free Bed Rehabilitation Hospital Foundation has awarded $1,772,205 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: SUBSIDY FOR PEDIATRIC CARE AND OTHER HOSPITAL PROGRAMS | $1,688,172 |
Saginaw, MI PURPOSE: MARY FREE BED AT COVENANT CAPITAL CAMPAIGN | $39,033 |
Grand Rapids, MI PURPOSE: SUBSIDY FOR PEDIATRIC CARE | $30,000 |
Lansing, MI PURPOSE: PEDIATRIC PLAYGROUND | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Mary Free Bed Rehabilitation Hospital Foundation has recieved totaling $1,124,583.
| Awarding Organization | Amount |
|---|---|
The Meijer Foundation Grand Rapids, MI PURPOSE: PROGRAM SUPPORT | $500,000 |
The Meijer Foundation Grand Rapids, MI PURPOSE: PROGRAM SUPPORT | $333,333 |
River City Foundation Grand Rapids, MI PURPOSE: PEDIATRIC INITIATIVE PROGRAM | $139,913 |
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $75,900 |
Mary Free Bed Guild Fund Grand Rapids, MI PURPOSE: ANNUAL GALA SUPPORT AND CONTRIBUTION FOR HOSPITAL EQUIPMENT | $26,000 |
Old Trail Foundation Grand Rapids, MI PURPOSE: GENERAL PROGRAM | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Health Network Foundation Inc Indianapolis, IN | $96,702,775 | $20,395,245 |
Metrohealth Foundation Inc Cleveland, OH | $88,791,792 | $21,235,092 |
Community First Solutions Hamilton, OH | $99,479,120 | $13,306,151 |
Fund For Medical Research And Education Detroit, MI | $30,425,506 | $9,049,534 |
Pulaski Health Foundation Inc Winamac, IN | $8,480,545 | $8,038,166 |
Healthcare Foundation Of La Porte Inc La Porte, IN | $192,768,600 | $27,903,057 |
Legacy Foundation Of Central Wisconsin Inc Wisconsin Rapids, WI | $142,600,446 | $4,980,958 |
Metro Solutions Inc Southfield, MI | $8,153,189 | $9,205,268 |
Marshfield Clinic Health System Foundation Inc Marshfield, WI | $149,772,122 | $21,068,703 |
Legacy Dmc Detroit, MI | $0 | $132,374 |
Umrc Foundation Inc Chelsea, MI | $60,873,284 | $7,062,844 |
W O Walker Center Inc Cleveland, OH | $19,729,896 | $6,201,003 |