Indian River Hospital Foundation Inc
- Assets
- $41.3m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 25
- Location
- Vero Beach, FL
- Founding
- 03/1943
- Data as of
- 09/2017
- EIN
- 59-0760215
Organization Overview
Indian River Hospital Foundation Inc is located in Vero Beach, FL. The organization was established in 1943. 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 09/2017, Indian River Hospital Foundation Inc employed 25 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Indian River 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 09/2017, Indian River Hospital Foundation Inc generated $10.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $8.3m during the year ending 09/2017. As we would expect to see with falling revenues, expenses have declined by (25.9%) per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF ITS SOLE MEMBER, INDIAN RIVER MEMORIAL HOSPITAL, WHICH IS AN IRC SECTION 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF AN AFFILIATED INDIAN RIVER COUNTY SECTION 501(C)(3) HOSPITAL. THE FOUNDATION'S PRIMARY MISSION IS TO GENERATE CONTRIBUTIONS TO SUPPLEMENT THE CAPITAL REQUIREMENTS OF THE HOSPITAL.
SUPPORT OF AN AFFILIATED INDIAN RIVER COUNTY SECTION 501(C)(3) HOSPITAL. THE FOUNDATION'S PRIMARY MISSION IS TO GENERATE CONTRIBUTIONS TO SUPPLEMENT THE CAPITAL REQUIREMENTS OF THE HOSPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony C Woodruff Chairman | OfficerTrustee | 10 | $0 |
Cb Rogers Jr Chairman Emeritus | OfficerTrustee | 5 | $0 |
Brian M Barefoot Vice Chairman | OfficerTrustee | 5 | $0 |
William P Scully Vice Chairman | OfficerTrustee | 5 | $0 |
J Christopher Clifford Vice Chairman | OfficerTrustee | 3 | $0 |
Judith C Lafage Secretary | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $163,704 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,876,248 |
| Noncash contributions included in lines 1a–1f | $3,702,743 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,039,952 |
| Total Program Service Revenue | $0 |
| Investment income | $454,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $144,181 |
| Net Income from Fundraising Events | -$42,539 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,595,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,204,239 |
| Grants and other assistance to domestic individuals. | $40,588 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $216,340 |
| Compensation of current officers, directors, key employees. | $75,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,038,547 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,622 |
| Payroll taxes | $70,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,803 |
| Fees for services: Accounting | $18,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,730 |
| Fees for services: Other | $75,764 |
| Advertising and promotion | $176,405 |
| Office expenses | $21,024 |
| Information technology | $19,523 |
| Royalties | $0 |
| Occupancy | $8,452 |
| Travel | $2,255 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,449 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,485 |
| Insurance | $0 |
| All other expenses | $7,308 |
| Total functional expenses | $8,324,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,129,207 |
| Pledges and grants receivable | $4,617,913 |
| 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 | $23,593 |
| Net Land, buildings, and equipment | $27,778 |
| Investments—publicly traded securities | $16,321,520 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,131,772 |
| Total assets | $41,251,783 |
| Accounts payable and accrued expenses | $124,334 |
| 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 | $288,350 |
| Total liabilities | $412,684 |
| Unrestricted restricted net Assets | $16,914,379 |
| Temporarily restricted net Assets | $22,093,969 |
| Permanently restricted net Assets or current funds | $1,830,751 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $40,839,099 |