Sarasota Memorial Healthcare Foundation
- Assets
- $139.0m
- Revenue
- $18.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Sarasota, FL
- Founding
- 04/1978
- Data as of
- 09/2023
- EIN
- 51-0188568
Organization Overview
Sarasota Memorial Healthcare Foundation is located in Sarasota, FL. The organization was established in 1978. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Sarasota Memorial Healthcare Foundation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sarasota Memorial Healthcare 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 09/2023, Sarasota Memorial Healthcare Foundation generated $18.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.5% each year . All expenses for the organization totaled $9.4m during the year ending 09/2023. While expenses have increased by 10.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Sarasota Memorial Healthcare Foundation has awarded 46 individual grants totaling $60,420,134. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SARASOTA MEMORIAL HEALTHCARE FOUNDATION, INC. IS AN INDEPENDENT FUNDRAISING ORGANIZATION WORKING WITH SARASOTA MEMORIAL HEALTH CARE SYSTEM AND OTHERS TO ENSURE THE HIGHEST QUALITY HEALTHCARE IS ACCESSIBLE AND MEETS THE NEEDS OF OUR COMMUNITY.
Describe the Organization's Program Activity:
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL AND OTHER NOT-FOR-PROFIT HEALTHCARE ORGANIZATIONS IN SARASOTA COUNTY FOR RESEARCH, PATIENT CARE AND OTHER NEEDS WITH PROGRAMS THAT WILL IMPROVE EFFICIENCY, EFFECTIVENESS, PATIENT SAFETY, AVAILABILITY AND ADVOCACY OF HEALTHCARE IN AN ENVIRONMENT OF WELL BEING FOR OVER 1.7M INPATIENT AND OUTPATIENT/PHYSICIAN VISITS PER YEAR. THE ONLY HOSPITAL IN FLORIDA TO RECEIVE THE HIGHEST 5-STAR QUALITY RATING FROM THE CENTERS FOR MEDICARE AND MEDICAID IN ALL REPORTING PERIODS SINCE THE PROGRAM BEGAN IN 2016.
EDUCATIONAL PUBLICATION AND SYMPOSIA FOR THE DISSEMINATION OF HEALTH CARE NEWS AND INFORMATION TO MEDICAL PROFESSIONALS AND THE COMMUNITY.
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR FACILITIES, AND EQUIPMENT THAT WILL PROVIDE THE MOST ADVANCED, STATE-OF-THE -ART TREATMENTS AND THE HIGHEST QUALITY OF CARE AND COMFORT. NAMED ONE OF THE WORLD'S BEST HOSPITALS 2019-2024 BY NEWSWEEK MAGAZINE. SMH NURSING & REHABILITATION CENTER NAMED A TOP NURSING HOME BY U.S. NEWS 2024. RANKED AMONG 50 BEST HOSPITALS IN THE NATION FOR SPECIALIZED REHABILITATION CARE AND OBSTETRICS/GYNOLOGY; AND AS A TOP PERFORMER IN 18 CONDITIONS/PROCEDURES BY U.S. NEWS 2023/2024.
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR PROFESSIONAL AND COMMUNITY EDUCATION PROGRAMS REPRESENTING CONTINUING MEDICAL AND PROFESSIONAL EDUCATION, PROFESSIONAL CERTIFICATION AND ONGOING EDUCATIONAL PROGRAMS FOR OVER 10,000 EMPLOYEES. SARASOTA MEMORIAL HOSPITAL IS ONE OF JUST 1% OF U.S. HOSPITALS TO EARN MAGNET NURSING RECOGNITION-THE HIGHEST HONOR FOR NURSING EXCELLENCE-FIVE TIMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert G Bartner Trustee | Trustee | 5 | $0 |
Carl W Battle Trustee | Trustee | 5 | $0 |
Gary Dornbush Trustee | Trustee | 5 | $0 |
Robert Essner Trustee | Trustee | 5 | $0 |
Thomas F Kelly MD Trustee | Trustee | 5 | $0 |
Robert P Martin Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bentz Whaley Flessner And Assoc Consulting/contracted Staff | 9/29/23 | $216,494 |
Bay Stage Live Events/entertainment | 9/29/23 | $183,777 |
Michael's On East Catering/events | 9/29/23 | $131,444 |
The Ritz-carlton Catering/events | 9/29/23 | $297,510 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $346,346 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,000,968 |
| Noncash contributions included in lines 1a–1f | $489,974 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,347,314 |
| Total Program Service Revenue | $0 |
| Investment income | $2,574,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$347,806 |
| Net Income from Fundraising Events | $1,683,076 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,368,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,134,812 |
| Grants and other assistance to domestic individuals. | $1,084,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $357,265 |
| Compensation of current officers, directors, key employees. | $104,127 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,233,851 |
| Pension plan accruals and contributions | $45,367 |
| Other employee benefits | $35,919 |
| Payroll taxes | $104,822 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,472 |
| Fees for services: Accounting | $28,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $37,520 |
| Fees for services: Investment Management | $2,937 |
| Fees for services: Other | $0 |
| Advertising and promotion | $179,199 |
| Office expenses | $138,555 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,335 |
| Travel | $2,890 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,034 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,740 |
| Insurance | $25,887 |
| All other expenses | $11,929 |
| Total functional expenses | $9,389,378 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,977,816 |
| Pledges and grants receivable | $35,302,543 |
| 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 | $850,178 |
| Net Land, buildings, and equipment | $37,833 |
| Investments—publicly traded securities | $73,886,819 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,949,589 |
| Total assets | $139,004,778 |
| Accounts payable and accrued expenses | $397,451 |
| Grants payable | $9,470,041 |
| Deferred revenue | $513,948 |
| 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 | $296,569 |
| Total liabilities | $10,678,009 |
| Net assets without donor restrictions | $12,405,721 |
| Net assets with donor restrictions | $115,921,048 |
| 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 | $139,004,778 |
Grants Awarded
Over the last fiscal year, Sarasota Memorial Healthcare Foundation has awarded $5,125,620 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SARASOTA COUNTY PUBLIC HOSPITAL BOARD SARASOTA MEMORIAL HEALTHCARE SYSTEMS PURPOSE: EDUCATION, FACILITIES & EQUIPMENT, RESEARCH, PATIENT CARE AND OTHER | $5,025,620 |
CENTERPLACE HEALTH INC PURPOSE: BEHAVIORAL HEALTHCARE PROGRAM EXPANSION | $50,000 |
CHILD PROTECTION CENTER INC PURPOSE: CHILD HEALTH AND SAFETY | $25,000 |
COMPEER OF THE GULF COAST INC PURPOSE: TRAINING FOR MENTAL HEALTH VOLUNTEERS | $25,000 |