Texas Medical Center Foundation
- Assets
- $3.3m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 4
- Location
- Houston, TX
- Founding
- 06/2015
- Data as of
- 12/2021
- 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 12/2021, Texas Medical Center Foundation employed 4 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 12/2021, Texas Medical Center Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 50.7% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Texas Medical Center Foundation has awarded 45 individual grants totaling $5,100,718. 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
2021
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Hein Entrepeneur In Residence | 40 | $131,609 | |
Enrique Gomez Palomares Entrepeneur In Residence | 40 | $103,063 | |
William Mckeon President | OfficerTrustee | 1 | $0 |
Thomas Luby Director, Innovation Inst. | Officer | 1 | $0 |
Charles W Hall Director | Trustee | 1 | $0 |
J Downey Bridgwater Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ut Texas Hsc At Houston Consulting Services | 12/30/19 | $206,250 |
Arete Limited Liability Company Consulting Services | 12/30/19 | $135,013 |
Jones Lang Lasalle Ameanricas Inc Maintenance Services | 12/30/19 | $266,996 |
Luminas Llc Consulting Services | 12/30/19 | $128,535 |
Deep 6 Ai Inc Clinical Trial Svcs | 12/30/19 | $2,000,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $63,294 |
| Related organizations | $746,925 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $93,588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $903,807 |
| Total Program Service Revenue | $1,027,400 |
| 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 | -$78,967 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,852,240 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $331,000 |
| 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 | $809,184 |
| Pension plan accruals and contributions | $45,813 |
| Other employee benefits | $166,104 |
| Payroll taxes | $54,403 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,244 |
| Advertising and promotion | $8,700 |
| Office expenses | $577 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $229 |
| 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 | $1,755,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $771,794 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $307,091 |
| Accounts receivable, net | $2,086,529 |
| 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 | $98,379 |
| 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 | $3,263,793 |
| Accounts payable and accrued expenses | $27,894 |
| 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 | $29,571,502 |
| Total liabilities | $29,599,396 |
| Net assets without donor restrictions | -$26,335,603 |
| 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 | $3,263,793 |
Grants Awarded
Over the last fiscal year, Texas Medical Center Foundation has awarded $320,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: GENERAL SUPPORT | $200,000 |
HARRIS COUNTY SPORTS AUTHORITY PURPOSE: GENERAL SUPPORT | $50,000 |
City Of Industry, CA PURPOSE: GENERAL SUPPORT | $10,000 |
Houston, TX PURPOSE: GENERAL SUPPORT | $10,000 |
Houston, TX PURPOSE: GENERAL SUPPORT | $10,000 |
HLTH LLC PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Texas Medical Center Foundation has recieved totaling $767,425.
| Awarding Organization | Amount |
|---|---|
Texas Medical Center Houston, TX PURPOSE: GENERAL SUPPORT OF ONGOING PROGRAMS | $746,925 |
Greater Houston Community Foundation Houston, TX PURPOSE: HEALTH | $20,000 |
Baird Foundation Inc Milwaukee, WI PURPOSE: GENERAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Methodist Hospitals Foundation Inc Dallas, TX | $153,905,809 | $19,053,620 |
Saint Francis Health System Inc General/Professional Liability Los Tulsa, OK | $35,657,077 | $16,772,953 |
Heart Of Texas Memorial Hospital Brady, TX | $57,981,362 | $27,695,651 |
Paso Del Norte Health Foundation El Paso, TX | $268,661,526 | $12,325,026 |
Conway Regional Hospital Employees Medical Trust Conway, AR | $4,792,680 | $16,387,089 |
Lsu Health Foundation New Orleans New Orleans, LA | $163,045,964 | $16,219,820 |
Baker & Botts Llp Employees Health Care Trust Agreement Houston, TX | $7,386,009 | $15,322,087 |
Shannon Business Services Inc San Angelo, TX | $6,491,391 | $14,101,592 |
Covenant Health System Foundation Lubbock, TX | $55,699,431 | $11,499,437 |
Texas Childrens Hospital Foundation Houston, TX | $3,566,256,606 | $201,987,304 |
The Menninger Clinic Foundation Houston, TX | $95,150,910 | $23,726,608 |
Presbyterian Health Foundation Oklahoma City, OK | $0 | $8,670,353 |