Edwards Foundation Inc
- Assets
- $22.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Huntington, WV
- Founding
- 11/2003
- Data as of
- 06/2023
- EIN
- 57-1158264
Organization Overview
Edwards Foundation Inc is located in Huntington, WV. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edwards 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 06/2023, Edwards Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $28.9m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CARRY OUT CHARITABLE SCIENTIFIC AND EDUCATIONAL ACTIVITIES FOR CABELL HUNTINGTON HOSPITAL, INC. AND MARSHALL UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP, MAINTENANCE, AND FINANCING OF A FACILITY TO BE USED BY CABELL HUNTINGTON HOSPITAL AND THE JOAN C. EDWARDS SCHOOL OF MEDICINE AT MARSHALL UNIVERSITY FOR THE DIAGNOSIS AND TREATMENT OF PERSONS AFFLICTED WITH CANCER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Hammers Director | Trustee | $0 | |
Bobby Miller MD Director | Trustee | $0 | |
Charles H Mckown Jr MD Secretary | Trustee | $0 | |
Kevin W Yingling MD Director | Trustee | $0 | |
Peter Chirico MD Director | Trustee | $0 | |
Brent A Marsteller President | Trustee | $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 | $586,767 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $401,589 |
| Net Gain/Loss on Asset Sales | $591,863 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,580,219 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,021,800 |
| 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 | $0 |
| Fees for services: Accounting | $21,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,737 |
| 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 | $78,988 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $500 |
| Insurance | $2,723 |
| All other expenses | $0 |
| Total functional expenses | $28,914,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $908,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,199,774 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,133,929 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,764 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,214,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,041 |
| Other assets | $58,307 |
| Total assets | $22,522,345 |
| Accounts payable and accrued expenses | $538,231 |
| 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 | $2,210,244 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $409 |
| Total liabilities | $2,748,884 |
| Net assets without donor restrictions | $3,773,461 |
| Net assets with donor restrictions | $16,000,000 |
| 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 | $22,522,345 |
Grants Awarded
Over the last fiscal year, Edwards Foundation Inc has awarded $4,021,800 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CABELL HUNTINGTON HOSPITAL PURPOSE: EQUIPMENT, ETC | $2,243,009 |
MARSHALL HEALTH NETWORK PURPOSE: STRATEGIC PLANNING | $1,062,232 |
MARSHALL HEALTH PURPOSE: FELLOWSHIP, SUPPLIES | $716,559 |