Texas Medical Center Foundation
- Assets
- $4.2m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Houston, TX
- Founding
- 06/2015
- Data as of
- 12/2022
- EIN
- 47-2836992
Organization Overview
Texas Medical Center Foundation is located in Houston, TX. The organization was established in 2015. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Texas Medical Center Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Medical Center 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, Texas Medical Center Foundation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 49.1% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Texas Medical Center Foundation has awarded 55 individual grants totaling $5,354,772. 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
PROVIDE SUPPORT TO THE TEXAS MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Mckeon President | OfficerTrustee | 1 | $0 |
Thomas Luby Director, Innovation Inst. | Officer | 1 | $0 |
Enrique Gomez Palomares Entrepeneur In Residence | 40 | $127,025 | |
Sarah Hein Entrepeneur In Residence | 40 | $102,118 | |
Charles W Hall Director | Trustee | 1 | $0 |
J Downey Bridgwater Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deep 6 Ai Inc Clinical Trial Svcs | 12/30/19 | $2,000,000 |
Jones Lang Lasalle Ameanricas Inc Maintenance Services | 12/30/19 | $266,996 |
Ut Texas Hsc At Houston Consulting Services | 12/30/19 | $206,250 |
Arete Limited Liability Company Consulting Services | 12/30/19 | $135,013 |
Luminas Llc Consulting Services | 12/30/19 | $128,535 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $74,400 |
| Related organizations | $972,811 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $670 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,047,881 |
| Total Program Service Revenue | $1,572,572 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$57,470 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,562,983 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $282,404 |
| 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 | $489,552 |
| Pension plan accruals and contributions | $46,602 |
| Other employee benefits | $90,094 |
| Payroll taxes | $37,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,346 |
| Fees for services: Accounting | $17,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $159,238 |
| Advertising and promotion | $4,476 |
| Office expenses | $1,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,410 |
| 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 | $0 |
| Total functional expenses | $2,091,483 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,042,735 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $42,567 |
| Accounts receivable, net | $3,114,285 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,199,587 |
| Accounts payable and accrued expenses | $55,382 |
| 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 | $30,008,308 |
| Total liabilities | $30,063,690 |
| Net assets without donor restrictions | -$25,864,103 |
| Net assets with donor restrictions | $0 |
| 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 | $4,199,587 |
Grants Awarded
Over the last fiscal year, Texas Medical Center Foundation has awarded $254,054 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
THE UNIVERSITY OF ST THOMAS PURPOSE: GENERAL SUPPORT | $11,075 |
TROOPS FIRST FOUNDATION PURPOSE: GENERAL SUPPORT | $20,000 |
RICE ALLIANCE FOR TECHNOLOGY PURPOSE: GENERAL SUPPORT | $20,000 |
SAN JOSE CLINIC PURPOSE: GENERAL SUPPORT | $10,000 |
COVENANT HOUSE TEXAS PURPOSE: GENERAL SUPPORT | $10,000 |
RICE UNIVERSITY MS 40 PURPOSE: GENERAL SUPPORT | $10,000 |