Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc
- Assets
- $139.7m
- Revenue
- $26.4m
- Investments
- $122.5m
- Employees
- 8
- Location
- Cedar Rapids, IA
- Founding
- 10/1977
- Data as of
- 06/2021
- EIN
- 51-0233180
Organization Overview
Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc, operating under the name Mercy Medical Center Foundation, is located in Cedar Rapids, IA. The organization was established in 1977. 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 06/2021, Mercy Medical Center Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mercy 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 06/2021, Mercy Medical Center Foundation generated $26.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.4% each year . All expenses for the organization totaled $3.9m during the year ending 06/2021. While expenses have increased by 2.5% per year over the past 6 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, Mercy Medical Center Foundation has awarded 88 individual grants totaling $21,110,476. 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
TO FOSTER, SUPPORT, AND ENCOURAGE THE MISSION AND ACTIVITIES OF MERCY MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FOSTER, SUPPORT, AND ENCOURAGE THE MISSION AND ACTIVITIES OF MERCY MEDICAL CENTER.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Crockett Former President | Officer | 40 | $117,580 |
Lorrie M Erusha President | Officer | 40 | $104,177 |
Timothy L Charles Secretary | OfficerTrustee | 40 | $0 |
Cheryle Mitvalsky Chairman | OfficerTrustee | 1 | $0 |
Darrel Morf Vice Chairman | OfficerTrustee | 1 | $0 |
Emmett J Scherrman Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $321,678 |
| Related organizations | $632,810 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,973,068 |
| Noncash contributions included in lines 1a–1f | $105,192 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,927,556 |
| Total Program Service Revenue | $0 |
| Investment income | $1,899,081 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,984,251 |
| Net Income from Fundraising Events | -$372,499 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,438,389 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,774,285 |
| Grants and other assistance to domestic individuals. | $146,099 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $186,460 |
| Compensation of current officers, directors, key employees. | $139,845 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $323,061 |
| Pension plan accruals and contributions | $9,606 |
| Other employee benefits | $61,635 |
| Payroll taxes | $27,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,329 |
| Fees for services: Accounting | $29,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $52,933 |
| Fees for services: Investment Management | $195,090 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,336 |
| Information technology | $29,030 |
| Royalties | $0 |
| Occupancy | $1 |
| Travel | $8,100 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,015 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,923,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,329,399 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,872,230 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $122,520,376 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $973,162 |
| Total assets | $139,695,167 |
| Accounts payable and accrued expenses | $124,779 |
| Grants payable | $0 |
| Deferred revenue | $132,982 |
| 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 | $1,259,690 |
| Total liabilities | $1,517,451 |
| Net assets without donor restrictions | $64,567,935 |
| Net assets with donor restrictions | $73,609,781 |
| 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 | $139,695,167 |
Grants Awarded
Over the last fiscal year, Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc has awarded $2,774,285 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Cedar Rapids, IA PURPOSE: MERCY MEDICAL CENTER PROJECTS & OPERATIONS | $1,102,505 |
Cedar Rapids, IA PURPOSE: EQUIPMENT | $641,138 |
Cedar Rapids, IA PURPOSE: HALL RADIATION CENTER | $491,347 |
Cedar Rapids, IA PURPOSE: CANCER SERVICES & HALL-PERRINE CANCER CENTER | $147,314 |
Cedar Rapids, IA PURPOSE: FAMILY CAREGIVERS CENTER | $123,259 |
Cedar Rapids, IA PURPOSE: HOSPICE HOUSE AND HOSPICE PROGRAMS | $110,822 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Mercy Medical Center Cedar Rapids Iowa Endowment Foundation Inc has recieved totaling $1,305,733.
| Awarding Organization | Amount |
|---|---|
Greater Cedar Rapids Community Foundation Cedar Rapids, IA PURPOSE: FAMILY CAREGIVER CENTER, GENERAL SUPPORT, ANNUAL DESIGNATED DISTRIBUTION FOR THE MERCY CANCER CENTER, DENNIS AND DONNA OLDORF HOSPICE HOUSE, PROGRAM SUPPORT FOR FAMILY CAREGIVERS, GENERAL SUPPORT FOR HOSPICE OF MERCY, 2021 ESPECIALLY FOR YOU RACE, PROGRAM SUPPORT FOR HALLMAR VILLAGE (TO BE USED TOWARD THE PURCHASE OF CLARINOVA), FAMILY CAREGIVERS CENTER OF MERCY, CAPITAL CAMPAIGN CONTRIBUTION, HALLMAR VILLAGE, HALLMAR VILLAGE & INNOVATION CENTER AGING/DEMENTIA, FOR THE CREATION AND FORMATION OF THE CHRIS AND SUZY DEWOLF FAMILY INNOVATION CENTER FOR AGING & DEMENTIA | $1,183,233 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $82,500 |
Minneapolis Foundation Minneapolis, MN PURPOSE: PHILANTHROPY | $20,000 |
Independent Charitable Gift Fund Hudson, OH PURPOSE: GENERAL SUPPORT | $20,000 |
Endowment Analysis
| Beg. Balance | $70,449,711 |
| Earnings | $13,217,282 |
| Admin Expense | $1,694,292 |
| Net Contributions | $8,433,872 |
| Other Expense | -$812,952 |
| Ending Balance | $91,219,525 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Roofers Local 96 Health & Welfare Fund Bloomington, MN | $17,573,620 | $18,996,626 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Cmc Foundation Of Central Texas St Louis, MO | $62,748,063 | $28,416,525 |
Northern Minnesota-Wisconsin Area Retail Food Health & Welfare Fund Duluth, MN | $9,554,218 | $16,178,140 |
Saint Lukes Foundation Kansas City, MO | $267,580,144 | $14,180,351 |
Southern Illinois Laborers & Empl Health & Welfare Fund Marion, IL | $23,536,245 | $17,167,946 |
Cardinal Glennon Childrens Foundation St Louis, MO | $175,256,703 | $38,879,675 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |
Twin Cities Bakery Workers Health And Welfare Fund Saint Paul, MN | $3,154,286 | $12,238,958 |
Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125 Cedar Rapids, IA | $31,419,781 | $18,589,909 |
Nebraska Methodist Hospital Foundation Omaha, NE | $173,830,201 | $26,097,640 |
Stagehands Union Local No 2 Health And Welfare Fund Oak Brook, IL | $8,693,853 | $9,920,428 |