Logan Medical Foundation
- Assets
- $11.1m
- Revenue
- -$715.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chapmanville, WV
- Founding
- 04/1968
- Data as of
- 12/2022
- EIN
- 55-0219480
Organization Overview
Logan Medical Foundation is located in Chapmanville, WV. The organization was established in 1968. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Logan Medical Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, MANAGE AND FURNISH HOSPITAL AND OTHER HEALTHCARE FACILITIES, PERSONNEL AND SERVICES FOR DIAGNOSIS, CARE AND TREATMENT OF SICK, INJURED OR DISABLED PERSONS, WITHOUT REGARD TO RACE, CREED, COLOR, AGE, SEX OR NATIONAL ORIGIN; TO PROVIDE FACILITIES, PERSONNEL, FUNDS AND OTHER REQUIREMENTS FOR THE EDUCATION AND TRAINING OF MEDICAL AND HEALTH RELATED PERSONNEL; AND TO MANAGE, OPERATE, OR PARTICIPATE IN SCIENTIFIC RESEARCH AND ANY OTHER ACTIVITY DESIGNED TO PROMOTE THE GENERAL HEALTH OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOGAN MEDICAL FOUNDATION CONTINUES TO LIQUIDATE LIABILITIES AND COLLECT AVAILABLE RECEIVABLES RELATED TO PATIENT CARE PROVIDED IN PRIOR YEARS. ONCE ALL RECEIVABLES HAVE BEEN COLLECTED AND LIABILITIES SATISFIED, THE REMAINING CASH AND ASSETS WILL BE TRANSFERRED TO LOGAN HEALTHCARE FOUNDATION, INC., A 501(C)(3) ORGANIZATION ESTABLISHED BY THE LOGAN MEDICAL FOUNDATION. DURING THE CURRENT YEAR, $300,000 WAS TRANSFERRED TO LOGAN HEALTHCARE FOUNDATION, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Earles President & Treasurer | OfficerTrustee | 8 | $0 |
Robert Whitler Chairman | OfficerTrustee | 0.5 | $0 |
Charles Justice Vice President And Assista | OfficerTrustee | 0.5 | $0 |
Anita Amburgey Secretary | OfficerTrustee | 0.5 | $0 |
Kristin Dial Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $243,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,892 |
| Net Gain/Loss on Asset Sales | -$995,954 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$715,749 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,580 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,654 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $5,000 |
| All other expenses | $0 |
| Total functional expenses | $368,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,892 |
| Savings and temporary cash investments | $66,535 |
| Pledges and grants receivable | $0 |
| 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 | $2,367 |
| Net Land, buildings, and equipment | $59,006 |
| Investments—publicly traded securities | $10,713,737 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $173,222 |
| Total assets | $11,084,759 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $9,670,084 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,414,675 |
| Total liabilities and net assets/fund balances | $11,084,759 |