Lexington Memorial Hospital Foundation Inc
- Assets
- $1.9m
- Revenue
- $240.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, NC
- Founding
- 03/1990
- Data as of
- 12/2021
- EIN
- 58-1876553
Organization Overview
Lexington Memorial Hospital Foundation Inc is located in Lexington, NC. The organization was established in 1990. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Lexington 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 12/2021, Lexington Memorial Hospital Foundation Inc generated $240.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $33.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ADVANCE CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES BY SUPPORTING AND OPERATING FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF LEXINGTON MEDICAL CENTER (DBA ATRIUM HEALTH WAKE FOREST BAPTIST LEXINGTON MEDICAL CENTER).
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTED AND ADVANCED CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES BY SUPPORTING AND OPERATING FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF LEXINGTON MEDICAL CENTER (DBA ATRIUM HEALTH WAKE FOREST BAPTIST LEXINGTON MEDICAL CENTER).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley A Clark Treasurer | Officer | 0.1 | $973,825 |
Paula Turlington Chair | OfficerTrustee | 2 | $0 |
Larry Link Vice Chair | OfficerTrustee | 2 | $0 |
William B James President | Officer | 2 | $0 |
Denise Hege Secretary | Officer | 2 | $0 |
Danny Squires Finance Director | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $37,545 |
| Related organizations | $102,661 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $143,249 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $96,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,041 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,714 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $211 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $32,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,555,672 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $84,125 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $295,766 |
| Total assets | $1,935,563 |
| 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 | $1,828,481 |
| Net assets with donor restrictions | $107,082 |
| 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 | $1,935,563 |
Grants Awarded
Over the last fiscal year, Lexington Memorial Hospital Foundation Inc has awarded $1,310,758 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, NC PURPOSE: TO SUPPORT OPERATIONS AND MISSION OF LEXMC | $644,358 |
Lexington, NC PURPOSE: TO SUPPORT OPERATIONS AND MISSION OF LEXMC | $644,358 |
Lexington, NC PURPOSE: COMMUNITY SUPPORT | $11,021 |
Lexington, NC PURPOSE: COMMUNITY SUPPORT | $11,021 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lexington Memorial Hospital Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Wake Forest University Health Sciences Winstonsalem, NC PURPOSE: SUPPORTING THE OPERATIONS OF THE FOUNDATION'S MISSION | $10,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Medical Society Of S C Charleston, SC | $641,115,218 | $16,899,363 |
Forsyth Medical Center Foundation Winston Salem, NC | $87,707,112 | $11,824,054 |
Steamfitters Local Union No 614 Health And Welfare Fund Goodlettsville, TN | $7,419,659 | $7,338,245 |
Foundation Of Firsthealth Inc Pinehurst, NC | $97,006,378 | $9,255,156 |
Conway Hospital Emergency Professional Services Conway, SC | $693,381 | $5,206,730 |
Plumbers And Steamfitters Union 10 Health And Welfare Fund Goodlettsville, TN | $14,693,700 | $8,210,089 |
Moses Cone-Wesley Long Community Health Foundation Inc Greensboro, NC | $128,321,235 | $23,346,538 |
Southeastern Pipetrades Health And Welfare Fund Goodlettsville, TN | $15,821,279 | $9,061,781 |
Virginia Transformer Corp Health Care Benefits Trust Roanoke, VA | $0 | $6,080,832 |
I U O E Local 147 Health Fund Norfolk, VA | $6,144,312 | $6,318,414 |
Operating Engineers Local 474 Health And Welfare Fund Goodlettsville, TN | $12,939,811 | $5,396,509 |
Richmond Memorial Health Foundation Richmond, VA | $476,845,388 | $4,294,615 |