Memorial Hospital Foundation Inc
- Assets
- $87.7m
- Revenue
- $3.7m
- Investments
- $34.9m
- Employees
- 5
- Location
- Easton, MD
- Founding
- 12/1983
- Data as of
- 06/2022
- EIN
- 52-1282080
Organization Overview
Memorial Hospital Foundation Inc is located in Easton, MD. The organization was established in 1983. 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 06/2022, Memorial Hospital Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Hospital Foundation Inc 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, Memorial Hospital Foundation Inc generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $856.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 7 years. 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
MEMORIAL HOSPITAL FOUNDATION THROUGH ITS PHILANTHROPIC EFFORTS WILL SUPPORT SHORE MEDICAL CENTER AT EASTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS USED TO SUPPORT SHORE HEALTH SYSTEM PROGRAMS, INCLUDING BREAST CENTER/DIC IMPROVEMENTS, MAGNET ACCREDIATION, PHYSICIAN RESIDENCY PROGRAM AND EQUIPMENT FOR CARDIOLOGY AND FOOD SERVICES.
TUITION, BOOKS, CONTINUING EDUCATION, TRAINING AND CERTIFICATION ASSISTANCE FOR 46 STUDENTS.
PROVIDING FINANCIAL ASSISTANCE FOR 22 PATIENTS AND 5 EMPLOYEES, INCLUDING EDUCATIONAL MATERIALS, TRANSPORTATION, FREE SCREENINGS, SURVIVOR PROGRAMS, PRESCRIPTION AND DENTAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed President And Ceo, Umsrh | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $89,810 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $235,109 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $324,919 |
| Total Program Service Revenue | $0 |
| Investment income | $2,155,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $153,736 |
| Net Gain/Loss on Asset Sales | $1,027,548 |
| Net Income from Fundraising Events | -$3,555 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,657,952 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $175,000 |
| Grants and other assistance to domestic individuals. | $114,216 |
| 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 | $23,002 |
| Pension plan accruals and contributions | $2,649 |
| Other employee benefits | $21,479 |
| Payroll taxes | $5,063 |
| 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 | $96,518 |
| Fees for services: Other | $0 |
| Advertising and promotion | $507 |
| Office expenses | $14,957 |
| Information technology | $48,589 |
| Royalties | $0 |
| Occupancy | $36,504 |
| Travel | $0 |
| 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 | $856,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,795,525 |
| Savings and temporary cash investments | $986,289 |
| Pledges and grants receivable | $35,000 |
| 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 | $20,006 |
| Net Land, buildings, and equipment | $2,740,429 |
| Investments—publicly traded securities | $18,676,000 |
| Investments—other securities | $34,882,075 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,526,665 |
| Total assets | $87,661,989 |
| Accounts payable and accrued expenses | $6,094 |
| Grants payable | $9,455 |
| 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 | $566,718 |
| Total liabilities | $582,267 |
| Net assets without donor restrictions | $57,143,026 |
| Net assets with donor restrictions | $29,936,696 |
| 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 | $87,661,989 |
Grants Awarded
Over the last fiscal year, Memorial Hospital Foundation Inc has awarded $7,576,460 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SHORE HEALTH SYSTEM PURPOSE: PROGRAM SERVICE SUPPORT Hospice Program Ambulance Purchase Program service support | $7,487,311 |
UM COMMUNITY MEDICAL GROUP PURPOSE: Program service support | $89,149 |