Mary Free Bed Rehabilitation Hospital Foundation
- Assets
- $30.0m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 01/2013
- Data as of
- 03/2023
- 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 03/2023, Mary Free Bed Rehabilitation Hospital Foundation generated $8.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $4.0m during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Mary Free Bed Rehabilitation Hospital Foundation has awarded 13 individual grants totaling $6,713,601. 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
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Riddle President | OfficerTrustee | 1 | $0 |
Dr Benjamin Bruinsma Trustee | Trustee | 1 | $0 |
Lee Perez Chairman Of The Board | OfficerTrustee | 1 | $0 |
Lindsay Benedict Vice Chair | OfficerTrustee | 1 | $0 |
Brent Van Haren Trustee | Trustee | 1 | $0 |
Timothy Arter Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $216,451 |
| Related organizations | $28,784 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,347,254 |
| Noncash contributions included in lines 1a–1f | $281,398 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,592,489 |
| Total Program Service Revenue | $0 |
| Investment income | $377,086 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$97,987 |
| Net Income from Fundraising Events | $179,698 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,051,286 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,353,955 |
| Grants and other assistance to domestic individuals. | $162,027 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $248,643 |
| Compensation of current officers, directors, key employees. | $49,729 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $564,995 |
| Pension plan accruals and contributions | $25,246 |
| Other employee benefits | $148,475 |
| Payroll taxes | $62,243 |
| Fees for services: Management | $83,250 |
| Fees for services: Legal | $240 |
| Fees for services: Accounting | $22,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $93,228 |
| Fees for services: Other | $888 |
| Advertising and promotion | $72,811 |
| Office expenses | $3,401 |
| Information technology | $53,277 |
| Royalties | $0 |
| Occupancy | $28,400 |
| Travel | $2,365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,848 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,525 |
| All other expenses | $0 |
| Total functional expenses | $3,996,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,023,221 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,113,206 |
| Accounts receivable, net | $196,579 |
| 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 | $7,367 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,691,432 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,031,805 |
| Accounts payable and accrued expenses | $100,648 |
| Grants payable | $0 |
| Deferred revenue | $133,220 |
| 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 | $12,032,688 |
| Total liabilities | $12,266,556 |
| Net assets without donor restrictions | $3,788,826 |
| Net assets with donor restrictions | $13,976,423 |
| 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 | $30,031,805 |
Grants Awarded
Over the last fiscal year, Mary Free Bed Rehabilitation Hospital Foundation has awarded $2,353,955 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
MARY FREE BED ORTHOTICS AND PROSTHETICS PURPOSE: SUBSIDY FOR PEDIATRIC CARE | $22,500 |
CAPITAL REGION COMMUNITY FOUNDATION PURPOSE: PEDIATRIC PLAYGROUND | $15,000 |
COVENANT HEALTHCARE FOUNDATION PURPOSE: MARY FREE BED AT COVENANT CAPITAL CAMPAIGN | $33,333 |
MARY FREE BED REHABILITATION HOSPITAL PURPOSE: SUBSIDY FOR PEDIATRIC CARE AND OTHER HOSPITAL PROGRAMS | $2,141,189 |
ASSOCIATION FOR THE BLIND AND VISUALLY IMPAIRED PURPOSE: SUBSIDY FOR BLIND AND VISUALLY IMPAIRED | $141,933 |