Christus St Michael Foundation
- Assets
- $6.9m
- Revenue
- $1.2m
- Investments
- $2.7m
- Employees
- 0
- Location
- Texarkana, TX
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 47-1655865
Organization Overview
Christus St Michael Foundation is located in Texarkana, TX. The organization was established in 1946. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Christus St Michael 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 06/2022, Christus St Michael Foundation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (18.8%) each year. All expenses for the organization totaled $665.2k during the year ending 06/2022. 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 SERVE THE PHILANTHROPIC NEEDS OF CHRISTUS HEALTH ARK-LA-TEX BY SOLICITING AND DISTRIBUTING CONTRIBUTIONS IN SUPPORT OF HEALTHCARE SERVICES IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF THE CORPORATION IS TO PROMOTE PHILANTHROPY AND CHARITABLE GIVING TO PROVIDE RESOURCES TO ENHANCE THE ABILITY OF CHRISTUS HEALTH ARK-LA-TEX IN ITS MISSION OF EXTENDING THE HEALING MINISTRY OF JESUS CHRIST BY PROVIDING FOR THE COMMUNITY'S HEALTH NEEDS. IN FURTHERANCE OF THOSE PURPOSES, THE FOUNDATION SHALL SOLICIT AND RECEIVE CHARITABLE GIFTS AND GRANTS TO ADMINISTER AND INVEST AND REINVEST THE SAME AND TO APPLY THE WHOLE OR ANY PART OF THE INCOME AND THE PRINCIPAL EXCLUSIVELY FOR THE BENEFIT OF THE HEALTH CARE FACILITIES, SERVICES AND HEALTHY COMMUNITY PROGRAMS SUPPORTED OR OPERATED BY CHRISTUS HEALTH ARK-LA-TEX WITHIN ITS SERVICE AREA,FOR SO LONG AS CHRISTUS HEALTH ARK-LA-TEX QUALIFIES AS AN EXEMPT ORGANIZATION UNDER SECTION 501 (C )(3) OF THE INTERNAL REVENUE CODE OR CORRESPONDING PROVISIONS OF ANY SUBSEQUENT CODE OR FEDERAL TAX LAW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Karam President/ceo (term 09/18) | 1 | $0 | |
Jason Rounds Term 021221 President | 0 | $0 | |
Jason Adams President | OfficerTrustee | 2 | $0 |
Glen Boles Treasurer | OfficerTrustee | 6 | $0 |
Susan Landreaux Executive Director | Officer | 6 | $0 |
Sister Jeanne Connell Director | Trustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $323,918 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $716,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,039,956 |
| Total Program Service Revenue | $0 |
| Investment income | $97,141 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,326 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,199,423 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $471,570 |
| 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 | $102,985 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,020 |
| Payroll taxes | $8,259 |
| 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 | $23,404 |
| Fees for services: Other | $20,120 |
| Advertising and promotion | $0 |
| Office expenses | $7,500 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $718 |
| Travel | $137 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $12,469 |
| Total functional expenses | $665,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $750,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $420,728 |
| 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 | $16,750 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,041,852 |
| Investments—other securities | $2,712,281 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,942,364 |
| Accounts payable and accrued expenses | $60 |
| 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 | $60 |
| Net assets without donor restrictions | $6,308,330 |
| Net assets with donor restrictions | $633,974 |
| 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 | $6,942,364 |
Grants Awarded
Over the last fiscal year, Christus St Michael Foundation has awarded $471,570 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARK-TEX COUNCIL OF GOVERNMENTS PURPOSE: PREMIUM SUPPORT PROGRAM | $140,000 |
CHRISTUS HEALTH ARK-LA-TEX PURPOSE: PATIENT ACCOUNT AND CAPITAL PROJECTS | $331,570 |