Commonwealth Health Foundation
- Assets
- $18.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Bowling Green, KY
- Founding
- 05/2000
- Data as of
- 03/2022
- EIN
- 61-1362000
Organization Overview
Commonwealth Health Foundation, operating under the name Med Center Health Foundation, is located in Bowling Green, KY. The organization was established in 2000. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, 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. Med Center 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 03/2022, Med Center Health Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.9m during the year ending 03/2022. While expenses have increased by 8.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Med Center Health Foundation has awarded 32 individual grants totaling $8,696,105. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERING, SUPPORTING, AND INITIATING ACTIVITIES FOR THE ADVANCEMENT OF HEALTHCARE OBJECTIVES OF NOT-FOR- PROFIT MED CENTER HEALTH AND ITS AFFILIATES.
Describe the Organization's Program Activity:
COMMONWEALTH HEALTH FOUNDATION, INC (CHF). WORKS TO CHANGE LIVES EVERY DAY AND CAN ONLY DO SO WITH THE SUPPORT OF DEDICATED, COMPASSIONATE PEOPLE FROM THE COMMUNITY. CHF HOSTS A VARIETY OF EVENTS THROUGHOUT THE YEAR TO RAISE AWARENESS & SUPPORT. SINCE CHC COVERS THE FOUNDATION'S OPERATING EXPENSES, 100% OF ALL DONATIONS GO DIRECTLY TO IMPROVE LIVES IN OUR COMMUNITY. SEE SCHEDULE O FOR MORE INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele W Lawless Sec/treas & Exec VP - CFO | OfficerTrustee | 2 | $0 |
Mike Cowles Chair | OfficerTrustee | 2 | $0 |
Connie D Smith President / CEO | OfficerTrustee | 2 | $0 |
John Kelly Vice-Chair | OfficerTrustee | 2 | $0 |
David Gray Evp / Designee For J. Natcher | Trustee | 2 | $0 |
Dr Nisar Kazimuddin Director / Physician | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $313,589 |
| Related organizations | $432,222 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $788,318 |
| Noncash contributions included in lines 1a–1f | $193,722 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,534,129 |
| Total Program Service Revenue | $0 |
| Investment income | $78,581 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,165 |
| Net Gain/Loss on Asset Sales | $2,832,500 |
| Net Income from Fundraising Events | -$11,830 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,451,545 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,368,986 |
| Grants and other assistance to domestic individuals. | $137,721 |
| 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 | $275 |
| Fees for services: Accounting | $3,849 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $331,469 |
| Advertising and promotion | $15,661 |
| Office expenses | $31,998 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,026 |
| 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 | $4,659 |
| All other expenses | $1,361 |
| Total functional expenses | $1,898,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,714 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $214,378 |
| 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 | $1,976 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $18,034,164 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,050 |
| Total assets | $18,360,282 |
| Accounts payable and accrued expenses | $9,117 |
| 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 | $28,760 |
| Total liabilities | $37,877 |
| Net assets without donor restrictions | $17,695,519 |
| Net assets with donor restrictions | $626,886 |
| 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 | $18,360,282 |
Grants Awarded
Over the last fiscal year, Commonwealth Health Foundation has awarded $1,365,367 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Bowling Green, KY PURPOSE: GENERAL SUPPORT | $744,168 |
Bowling Green, KY PURPOSE: GENERAL SUPPORT | $318,679 |
Bowling Green, KY PURPOSE: GENERAL SUPPORT | $294,436 |
Bowling Green, KY PURPOSE: GENERAL SUPPORT | $8,084 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Commonwealth Health Foundation has recieved totaling $612,493.
| Awarding Organization | Amount |
|---|---|
Commonwealth Health Corporation Inc Bowling Green, KY PURPOSE: GENERAL SUPPORT | $431,058 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $66,000 |
Robert And Mary Tincher Charitable Foundation Inc Bowling Green, KY PURPOSE: PUBLIC CHARITY | $50,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $30,000 |
Southwest Florida Community Foundation Inc Fort Myers, FL PURPOSE: GEN OP SUPPORT | $10,000 |
Community Foundation Of South Central Kentucky Inc Bowling Green, KY PURPOSE: GENERAL SUPPORT | $8,965 |
Endowment Analysis
| Beg. Balance | $16,610,096 |
| Earnings | $1,601,378 |
| Net Contributions | -$145,000 |
| Other Expense | $32,310 |
| Ending Balance | $18,034,164 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentuckyone Health Inc Lexington, KY | $15,206,136 | $12,087,828 |
Hospital Sisters Of St Francis Foundation Inc Springfield, IL | $115,855,911 | $14,666,018 |
Ascension Care Management Insurance Holdings St Louis, MO | $337,485,264 | $76,291,210 |
Community Health Network Foundation Inc Indianapolis, IN | $96,702,775 | $20,395,245 |
Mosaic Health System St Joseph, MO | $1,008,013,378 | $78,795,144 |
Metrohealth Foundation Inc Cleveland, OH | $88,791,792 | $21,235,092 |
Community First Solutions Hamilton, OH | $99,479,120 | $13,306,151 |
Louisville Medical Center Development Corporation Louisville, KY | $97,176,335 | $8,068,476 |
Pulaski Health Foundation Inc Winamac, IN | $8,480,545 | $8,038,166 |
Healthcare Foundation Of La Porte Inc La Porte, IN | $192,768,600 | $27,903,057 |
Ephraim Mcdowell Health Inc Danville, KY | $193,248,022 | $7,628,237 |
The Healing Trust Nashville, TN | $0 | $7,303,090 |