Memorial Foundation Inc
- Assets
- $31.9m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Hollywood, FL
- Founding
- 05/1981
- Data as of
- 12/2021
- EIN
- 59-2082218
Organization Overview
Memorial Foundation Inc is located in Hollywood, FL. The organization was established in 1981. 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. Memorial 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, Memorial Foundation Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $2.4m 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
MEMORIAL FOUNDATION WAS ESTABLISHED IN 1981 TO PROVIDE PHILANTHROPIC SUPPORT TO MEMORIAL HEALTHCARE SYSTEM WHOSE MISSION IS TO HEAL THE BODY, MIND, AND SPIRIT OF THOSE WE TOUCH. EVERY DONATION RECEIVED HELPS TO ENSURE THAT QUALITY, COST EFFECTIVE, PATIENT-AND-FAMILY FOCUSED HEALTH CARE IS PROVIDED TO ALL, REGARDLESS OF ABILITY TO PAY.DURING THE FISCAL YEAR THE FOUNDATION FUNDED CAPITAL PROJECTS, VARIOUS PROGRAMS AND PROVIDED SUPPORT TO PATIENTS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING FOR EDUCATIONAL, THERAPEUTIC AND RECREATIONAL ACTIVITIES TO PATIENTS OF SOUTH BROWARD HOSPITAL DISTRICT.
PROVIDE FUNDING TO SOUTH BROWARD HOSPITAL DISTRICT TO PURCHASE MEDICAL EQUIPMENT AND MAKE RENOVATIONS.
PROVIDE FUNDING FOR HEALTHCARE SERVICES FOR MEDICAL RESEARCH.
PROVIDE FUNDING FOR INDIGENT PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew J Greenfield Chairman | OfficerTrustee | 3 | $0 |
Thomas R Oliveri Immediate Past Chairman | OfficerTrustee | 2 | $0 |
Brett Rose 1st Vice Chairman | OfficerTrustee | 2 | $0 |
Susanne Cornfeld Hurowitz Secretary | OfficerTrustee | 2 | $0 |
Carl Schuster Secretary Until 12/2/21 | OfficerTrustee | 2 | $0 |
Elden Legaux Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $872,846 |
| Membership dues | $0 |
| Fundraising events | $112,057 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,707,098 |
| Noncash contributions included in lines 1a–1f | $50,042 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,692,001 |
| Total Program Service Revenue | $0 |
| Investment income | $449,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$59,580 |
| Net Income from Fundraising Events | $18,915 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,100,992 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,981,753 |
| Grants and other assistance to domestic individuals. | $62,260 |
| 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 | $4,305 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,842 |
| Fees for services: Other | $161,430 |
| Advertising and promotion | $0 |
| Office expenses | $82,287 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $985 |
| 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 | $2,379,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,972,763 |
| Savings and temporary cash investments | $1,434,003 |
| Pledges and grants receivable | $1,056,992 |
| 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 | $93,164 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $24,714,740 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $600,000 |
| Total assets | $31,871,662 |
| Accounts payable and accrued expenses | $125,412 |
| 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 | $653,521 |
| Total liabilities | $778,933 |
| Net assets without donor restrictions | $14,361,041 |
| Net assets with donor restrictions | $16,731,688 |
| 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 | $31,871,662 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Memorial Foundation Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Grant J Ostlund Jr Foundation Inc Hawthorne, FL PURPOSE: SUPPORT OF MEMORIAL HEALTH SYSTEM | $500 |
Endowment Analysis
| Beg. Balance | $744,904 |
| Earnings | $21,460 |
| Net Contributions | $33,149 |
| Other Expense | $21,460 |
| Ending Balance | $778,053 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Alabama Childrens Hospital Foundation Birmingham, AL | $1,336,728,368 | $67,689,862 |
Plumbers & Pipefitters Local 421 Health & Welfare Fund Pembroke Pines, FL | $21,305,656 | $12,681,000 |