Martin Memorial Foundation Inc
- Assets
- $55.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 13
- Location
- Stuart, FL
- Founding
- 01/1989
- Data as of
- 12/2018
- EIN
- 59-2343938
Organization Overview
Martin Memorial Foundation Inc, operating under the name Martin Health Foundation, is located in Stuart, FL. The organization was established in 1989. 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 09/2018, Martin Health Foundation employed 13 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Martin Health Foundation 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 12/2018, Martin Health Foundation generated $1.8m 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 (30.5%) each year. All expenses for the organization totaled $799.0k during the year ending 12/2018. As we would expect to see with falling revenues, expenses have declined by (40.6%) per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
MARTIN MEMORIAL FOUNDATION SUPPORTS MARTIN MEMORIAL HEALTH SYSTEMS, A NOT-FOR-PROFIT HOSPITAL SYSTEM BY RAISING FUNDS FOR CAPITAL EQUIPMENT, EDUCATION AND GENERAL OPERATIONS OF THE HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARTIN MEMORIAL FOUNDATION PROVIDED SUPPORT TO MARTIN MEMORIAL MEDICAL CENTER A NOT-FOR-PROFIT HOSPITAL BECAUSE OF ITS CONTINUING MISSION OF PROVIDING OUTSTANDING PATIENT CARE TO MARTIN AND SOUTHERN ST. LUCIE COUNTIES. THE FOUNDATION'S CHRYSANTHEMUM BALL HAS BECOME AN ANNUAL EVENT IN MARTIN COUNTY INVOLVING MANY COMMUNITY MEMBERS AND BUSINESSES. THE PURPOSE OF THE BALL IS TO RAISE FUNDS FOR MARTIN MEMORIAL MEDICAL CENTER. THE FOUNDATION ALSO HAS THE GOOMBAY BASH EVENT ANNUALLY. THE GOOMBAY BASH RAISES FUNDS TO SUPPORT THE MATERNAL CHILD SERVICES DEPARTMENT AT MARTIN MEMORIAL MEDICAL CENTER. THE GOOMBAY EVENT HAS MADE IT POSSIBLE FOR THE FOUNDATION TO FUND VARIOUS INITIATIVES AT THE MATERIAL CHILD SERVICES DEPARTMENT, INCLUDING THE PURCHASE OF PEDIATRIC REHAB EQUIPMENT, BASSINETS, BOOKS, AND MADE IT POSSIBLE FOR NURSING STAFF TO MAKE FOLLOW UP VISITS TO THE HOMES OF NEW BORN BABIES AND THEIR MOTHERS.
MARTIN MEMORIAL FOUNDATION PROVIDED SUPPORT TO COASTAL CARE CORPORATION, A NOT FOR PROFIT HEALTH CARE CORPORATION. WITH THE FUNDING PROVIDED BY THE FOUNDATION, COASTAL CARE WAS ABLE TO PROVIDE FREE MAMMOGRAPHY SERVICES TO WOMEN THROUGH ITS DIAGNOSTIC LABORATORIES. COASTAL CARE CORPORATION SERVED 108,476 PATIENTS THROUGH ITS DIAGNOSTIC AND MRI FACILITIES, 13,155 PATIENTS THROUGH ITS MEDICAL CENTER WALK IN CLINICS, AND PROVIDED 12,496 PATIENT TRANSPORTS THROUGH ITS AMBULANCE SERVICES DURING FY18.
MARTIN MEMORIAL FOUNDATION PAYS FOR VARIOUS MEDICAL AND DENTAL PROCEDURES FOR INDIGENT CHILDREN. THESE PAYMENTS ARE MADE DIRECTLY TO THE HEALTH CARE PROVIDER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President/ceo | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer/cfo | OfficerTrustee | 1 | $0 |
Name Not Listed Vp/cpo | OfficerTrustee | 50 | $233,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,850,595 |
| Investment income | $114,552 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,500 |
| Net Income from Fundraising Events | -$122,779 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,840,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $4,906 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $183,789 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,387 |
| Pension plan accruals and contributions | $5,352 |
| Other employee benefits | $58,017 |
| Payroll taxes | $26,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,549 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $33,236 |
| Fees for services: Investment Management | $19 |
| Fees for services: Other | $20,265 |
| Advertising and promotion | $44,044 |
| Office expenses | $29,666 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,742 |
| Travel | $2,664 |
| 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 | $6,266 |
| Insurance | $3,405 |
| All other expenses | $13,683 |
| Total functional expenses | $798,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,445,504 |
| Pledges and grants receivable | $9,405,899 |
| 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 | $26,412 |
| Investments—publicly traded securities | $16,187,273 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,187,406 |
| Total assets | $55,429,418 |
| Accounts payable and accrued expenses | $90,717 |
| 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 | $3,294,578 |
| Total liabilities | $3,385,295 |
| Net assets without donor restrictions | -$87,552 |
| Net assets with donor restrictions | $48,809,298 |
| Capital stock or trust principal, or current funds | $3,322,377 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $52,044,123 |
Grants Awarded
Over the last fiscal year, Martin Memorial Foundation Inc has awarded $5,416,817 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MARTIN MEMORIAL MEDICAL CENTER INC PURPOSE: PROGRAM SUPPORT | $4,521,113 |
COASTAL CARE CORPORATION PURPOSE: PROGRAM SUPPORT | $895,704 |