The Morehouse School Of Medicine Inc
- Assets
- $361.9m
- Revenue
- $278.5m
- Investments
- $356.7k
- Employees
- 1,521
- Location
- Atlanta, GA
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 58-1438873
Organization Overview
The Morehouse School Of Medicine Inc is located in Atlanta, GA. The organization was established in 1981. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2022, Morehouse School Of Medicine Inc employed 1,521 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morehouse School Of Medicine 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, Morehouse School Of Medicine Inc generated $278.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $220.7m during the year ending 06/2022. While expenses have increased by 6.1% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III LINE 1 FOR MISSION AND SCHEDULE O FOR MOST SIGNIFICANT ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O, ORGANIZATION'S OVERVIEW, PART III, LINE 4A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valerie Montgomery Rice MD President | OfficerTrustee | 37.5 | $1,274,000 |
F John Case Edd Senior VP Operations & CFO | Officer | 37.5 | $872,967 |
Joseph Adrian Tyndall Dean | Officer | 37.5 | $798,000 |
Ed W Childs MD Chair Surgery | 37.5 | $697,017 | |
Roland Matthews MD Professor | 37.5 | $488,977 | |
Kahdi Udobi Assistant Professor | 37.5 | $475,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kpmg Llc Consulting | 6/29/22 | $3,686,800 |
Tressa Tucker And Associates Consulting | 6/29/22 | $1,045,567 |
Quantum Group International Info. Technology | 6/29/22 | $616,337 |
Ernst Young Llp Consulting | 6/29/22 | $400,795 |
Jgw Diplomat Llc Rental | 6/29/22 | $405,617 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $166,855,306 |
| All other contributions, gifts, grants, and similar amounts not included above | $77,222,508 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,077,814 |
| Total Program Service Revenue | $26,390,184 |
| Investment income | $2,676,501 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,493,521 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $278,498,387 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,646,381 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,056,793 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $8,151,801 |
| Compensation of current officers, directors, key employees. | $5,566,773 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $96,993,729 |
| Pension plan accruals and contributions | $7,295,706 |
| Other employee benefits | $12,777,905 |
| Payroll taxes | $7,973,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $551,496 |
| Fees for services: Accounting | $306,395 |
| Fees for services: Lobbying | $241,749 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $324,940 |
| Fees for services: Other | $283,032 |
| Advertising and promotion | $117,526 |
| Office expenses | $1,361,439 |
| Information technology | $1,996,997 |
| Royalties | $0 |
| Occupancy | $2,271,485 |
| Travel | $938,139 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,966,199 |
| Interest | $63,982 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,427,274 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $220,739,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,571,987 |
| Savings and temporary cash investments | $21,098,715 |
| Pledges and grants receivable | $10,576,208 |
| Accounts receivable, net | $50,448,929 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $188,218 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $96,722,769 |
| Investments—publicly traded securities | $143,778,558 |
| Investments—other securities | $356,718 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,193,764 |
| Total assets | $361,935,866 |
| Accounts payable and accrued expenses | $33,032,757 |
| Grants payable | $303,362 |
| Deferred revenue | $22,817,797 |
| 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 | $29,441,131 |
| Total liabilities | $85,595,047 |
| Net assets without donor restrictions | $98,427,827 |
| Net assets with donor restrictions | $177,912,992 |
| 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 | $361,935,866 |
Grants Recieved
Over the last fiscal year, we have identified 57 grants that The Morehouse School Of Medicine Inc has recieved totaling $38,871,274.
| Awarding Organization | Amount |
|---|---|
American Cancer Society Inc Kennesaw, GA PURPOSE: Extramural Research Grant | $6,711,000 |
Robert W Woodruff Foundation Inc Atlanta, GA PURPOSE: COMPLETION OF $25 MILLION CAMPAIGN TO RENOVATE THE HUGH M. GLOSTER AND MEDICAL EDUCATION BUILDINGS. | $6,000,000 |
Robert W Woodruff Foundation Inc Atlanta, GA PURPOSE: COMPLETION OF $25 MILLION CAMPAIGN TO RENOVATE THE HUGH M. GLOSTER AND MEDICAL EDUCATION BUILDINGS. | $6,000,000 |
Bloomberg Family Foundation Inc New York, NY PURPOSE: TO GIVE FINANCIAL AID FOR MEDICAL STUDENTS | $5,400,000 |
Fred Hutchinson Cancer Research Center Seattle, WA PURPOSE: VACCINE AND INFECTIOUS DISEASE | $2,681,511 |
Bloomberg Family Foundation Inc New York, NY PURPOSE: MOBILE VACCINE UNITS SUPPORT | $2,100,000 |
Endowment Analysis
| Beg. Balance | $104,474,222 |
| Earnings | $1,493,521 |
| Admin Expense | $261,932 |
| Net Contributions | $415,344 |
| Other Expense | $3,442,081 |
| Grants | $715,561 |
| Ending Balance | $101,963,513 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Health Sciences Winstonsalem, NC | $4,063,609,787 | $629,827,374 |
The Morehouse School Of Medicine Inc Atlanta, GA | $361,935,866 | $278,498,387 |
Meharry Medical College Nashville, TN | $412,525,133 | $200,654,112 |
Augusta University Research Institute Inc Augusta, GA | $21,382,894 | $80,266,513 |
Columbia International University Columbia, SC | $112,576,601 | $51,477,701 |
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Southern College Of Optometry Memphis, TN | $90,101,083 | $28,598,801 |
Johnson University Knoxville, TN | $236,951,483 | $27,596,664 |
Ave Maria School Of Law Naples, FL | $21,394,119 | $23,155,503 |
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
Sherman College Of Straight Chiropractic Inc Spartanburg, SC | $45,133,899 | $16,948,617 |
Interdenominational Theological Center Inc Atlanta, GA | $16,432,791 | $10,752,474 |