Elyria Medical Center Foundation
- Assets
- $19.2m
- Revenue
- $738.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Elyria, OH
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 61-1579760
Organization Overview
Elyria Medical Center Foundation is located in Elyria, OH. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elyria Medical Center 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 12/2022, Elyria Medical Center Foundation generated $738.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (20.5%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND ASSIST THE MISSION OF UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GRANTS ASSISTANCE TO UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER TO FURTHER ENHANCE THE MEDICAL CENTER'S MISSION AND COMMUNITY BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bond Bradley C Director/vp/secretary/treasurer | OfficerTrustee | 2 | $0 |
Flanigan Kevin J Director/chairperson | OfficerTrustee | 2 | $0 |
Harford Todd Director/president (begin 02/22) | OfficerTrustee | 2 | $0 |
Mole Karen L Director/vice President | OfficerTrustee | 2 | $0 |
Lent Daniel Director | Trustee | 2 | $0 |
Pearl Jerry Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $103,440 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,440 |
| Total Program Service Revenue | $0 |
| Investment income | $661,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$27,178 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $738,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000,000 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $111,793 |
| Pension plan accruals and contributions | $519 |
| Other employee benefits | $0 |
| Payroll taxes | $9,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,808 |
| 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 | $651 |
| Total functional expenses | $1,128,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,117,305 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $74,606 |
| Total assets | $19,191,911 |
| Accounts payable and accrued expenses | $54 |
| 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 | $600,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $138,156 |
| Total liabilities | $738,210 |
| Net assets without donor restrictions | $12,757,749 |
| Net assets with donor restrictions | $5,695,952 |
| 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 | $19,191,911 |
Grants Awarded
Over the last fiscal year, Elyria Medical Center Foundation has awarded $3,560,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
EMH REGIONAL MEDICAL CENTER PURPOSE: MISSION SUPPORT | $1,500,000 |
EMH REGIONAL MEDICAL CENTER PURPOSE: MISSION SUPPORT | $1,500,000 |
UNIVERSITY HOSPITALS HEALTH SYSTEM INC PURPOSE: MISSION SUPPORT | $280,000 |
UNIVERSITY HOSPITALS HEALTH SYSTEM INC PURPOSE: MISSION SUPPORT | $280,000 |