Indian River Hospital Foundation Inc
- Assets
- $35.9m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 25
- Location
- Vero Beach, FL
- Founding
- 03/1943
- Data as of
- 09/2018
- 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 09/2018, Indian River Hospital Foundation Inc generated $4.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (22.7%) each year. All expenses for the organization totaled $10.7m during the year ending 09/2018. 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
2018
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.
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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 | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,526,437 |
| Investment income | $581,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $84,947 |
| Net Income from Fundraising Events | $30,825 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,223,519 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $86,008 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $234,306 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $942,106 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $92,147 |
| Payroll taxes | $69,562 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,284 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,999 |
| Fees for services: Other | $43,020 |
| Advertising and promotion | $211,385 |
| Office expenses | $38,659 |
| Information technology | $51,071 |
| Royalties | $0 |
| Occupancy | $7,912 |
| Travel | $4,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,265 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,330 |
| Insurance | $0 |
| All other expenses | $19,312 |
| Total functional expenses | $10,660,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,975,134 |
| Pledges and grants receivable | $3,171,446 |
| 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 | $84,904 |
| Investments—publicly traded securities | $19,895,421 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $729,453 |
| Total assets | $35,884,136 |
| Accounts payable and accrued expenses | $97,419 |
| 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 | $376,350 |
| Total liabilities | $473,769 |
| Net assets without donor restrictions | $16,271,551 |
| Net assets with donor restrictions | $17,087,568 |
| Capital stock or trust principal, or current funds | $2,051,248 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $35,410,367 |
Grants Recieved
Over the last fiscal year, we have identified 25 grants that Indian River Hospital Foundation Inc has recieved totaling $2,424,519.
| Awarding Organization | Amount |
|---|---|
Indian River Community Foundation Vero Beach, FL PURPOSE: GENERAL OPERATING | $1,819,086 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $250,000 |
American Endowment Foundation Hudson, OH PURPOSE: PHILANTHROPY | $71,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $57,250 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $37,250 |
Louis M Plansoen Foundation Las Vegas, NV PURPOSE: GENERAL SUPPORT | $30,000 |
Endowment Analysis
| Beg. Balance | $2,111,662 |
| Earnings | $231,887 |
| Net Contributions | $37,136 |
| Other Expense | $15,475 |
| Ending Balance | $2,365,210 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capstone Health Services Foundation P C Tuscaloosa, AL | $29,375,344 | $27,823,379 |
St Anthonys Professional Buildings & Services Inc Tampa, FL | $66,592,493 | $24,044,105 |
Houston Healthcare System Inc Warner Robins, GA | $2,831,389 | $10,479,781 |
Montgomery Baptist Outreach Services Corporation Montgomery, AL | $20,272,262 | $12,064,663 |
West Florida Health Home Care Inc Temple Terrace, FL | $9,306,071 | $17,546,584 |
West Georgia Health Foundation Inc Marietta, GA | $8,141,093 | $4,609,093 |
Mount Sinai Medical Center Foundation Inc Miami Beach, FL | $381,873,831 | $56,255,268 |
Baptist Health System Foundation Inc Jacksonville, FL | $315,907,780 | $49,455,199 |
Harry-Anna Investment Fund Inc Umatilla, FL | $366,026,272 | $19,311,670 |
Morton Plant Mease Health Care Foundation Inc Clearwater, FL | $126,171,724 | $8,632,525 |
Ufcw & Employers Health & Welfare T Rust Fund Pembroke Pines, FL | $22,540,829 | $18,806,803 |
Lakeland Regional Medical Center Foundation Inc Lakeland, FL | $42,454,148 | $10,633,675 |