Meharry Medical College
- Assets
- $452.0m
- Revenue
- $209.4m
- Investments
- $25.3m
- Employees
- 1,292
- Location
- Nashville, TN
- Founding
- 09/1937
- Data as of
- 06/2023
- EIN
- 62-0488046
Organization Overview
Meharry Medical College is located in Nashville, TN. The organization was established in 1937. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2023, Meharry Medical College employed 1,292 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meharry Medical College 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 06/2023, Meharry Medical College generated $209.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $200.7m during the year ending 06/2023. While expenses have increased by 6.2% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH AND HEALTHCARE OF MINORITY AND UNDERSERVED COMMUNITIES BY OFFERING EXCELLENT EDUCATION AND TRAINING PROGRAMS IN THE HEALTH SCIENCES; DELIVERING HIGH QUALITY HEALTH SERVICES; AND ADVANCING HEALTH EQUITY THROUGH INNOVATIVE RESEARCH THAT FOSTERS THE ELIMINATION OF HEALTH DISPARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL EDUCATION: EDUCATION OF STUDENTS IN THE FIELDS OF MEDICINE, DENTISTRY, PUBLIC HEALTH, MEDICAL SCIENCE AND ALLIED HEALTH PROFESSION, AND DATA SCIENCES. DEGREES CONFERRED INCLUDE: MD, DDS, MHS, MSPH, MSDS, MSBDS AND PHD. (NUMBER OF GRADUATES FROM THE PROGRAMS: 299).
PUBLIC, SOCIETY BENEFIT PROGRAMS, GENERAL/OTHER: FUNDS EXPENDED FOR ACTIVITIES THAT ARE ESTABLISHED PRIMARILY TO PROVIDE NON-INSTRUCTIONAL SERVICES BENEFICIAL TO INDIVIDUALS AND GROUPS EXTERNAL TO THE INSTITUTION. COST OF PROVIDING HEALTH SERVICES TO THE COMMUNITY. (NUMBER OF PATIENT ENCOUNTERS FOR YEAR: 71,891).
HEALTH CARE DELIVERY AND MANAGEMENT, GENERAL/OTHER: GENERAL HEALTHCARE DELIVERY, PRIMARY AND SPECIALTY CARE, DENTAL AND MENTAL HEALTHCARE. (NUMBER OF PATIENT ENCOUNTERS IN THE YEAR: 71,891).
MEDICAL RESEARCH, GENERAL/OTHER: THE ORGANIZATION DOES RESEARCH IN A NUMBER OF MAJOR AREAS (CANCER, CARDIOVASCULAR, NEUROSCIENCE, SEAT BELT SAFETY, ALONG WITH RESEARCH TRAINING, AND HIV DISEASE, INFECTIOUS DISEASE, WOMEN'S HEALTH, COMMUNITY ENGAGEMENT) WITH A PRIMARY FOCUS ON HEALTH DISPARITIES RESEARCH. (NUMBER OF NEW GRANTS FOR THE YEAR: 48).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E K Hildreth President/ceo | Officer | 40 | $991,440 |
Lamel Bandy-Neal Senior VP Finance / CFO | Officer | 40 | $862,828 |
Jeannette South-Paul Exec VP And Provost/ Former Trustee | Officer | 40 | $550,000 |
Peter E Millet Executive Vice President | Officer | 40 | $449,038 |
Duane Smoot Professor Internal Medicine | 40 | $466,923 | |
Charae Farmer Dean School Of Dentistry | Officer | 40 | $440,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aramark Facility Services Facilties Management Services | 6/29/23 | $4,930,949 |
Apogee Telecom Inc Information Technology Services | 6/29/23 | $1,723,672 |
The Fox Foundation Inc Professional And Research Development Services | 6/29/23 | $1,358,127 |
Favorite Healthcare Staffing Inc Healthcare Staffing Services | 6/29/23 | $704,505 |
Mojo Marketing And Pr Marketing And Events Management Services | 6/29/23 | $637,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $79,344,586 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,030,876 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,375,462 |
| Total Program Service Revenue | $71,172,691 |
| Investment income | $6,386,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $209,440,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,064,532 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,834,962 |
| Compensation of current officers, directors, key employees. | $3,815,999 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $79,572,616 |
| Pension plan accruals and contributions | $2,396,315 |
| Other employee benefits | $10,709,406 |
| Payroll taxes | $5,550,052 |
| Fees for services: Management | $30,095,697 |
| Fees for services: Legal | $1,545,011 |
| Fees for services: Accounting | $95,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $245,119 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,813,405 |
| Advertising and promotion | $20,343 |
| Office expenses | $12,603,522 |
| Information technology | $11,120,011 |
| Royalties | $0 |
| Occupancy | $7,799,210 |
| Travel | $2,214,337 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $339,553 |
| Interest | $1,135,941 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,333,431 |
| Insurance | $1,937,223 |
| All other expenses | $0 |
| Total functional expenses | $200,660,969 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,263,360 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,274,513 |
| Accounts receivable, net | $53,858,004 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,396 |
| Prepaid expenses and deferred charges | $2,035,654 |
| Net Land, buildings, and equipment | $171,664,606 |
| Investments—publicly traded securities | $155,373,459 |
| Investments—other securities | $25,335,760 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,090,017 |
| Total assets | $451,952,769 |
| Accounts payable and accrued expenses | $13,592,973 |
| Grants payable | $0 |
| Deferred revenue | $12,294,670 |
| Tax-exempt bond liabilities | $59,904,564 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $17,518,527 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,587,871 |
| Total liabilities | $108,898,605 |
| Net assets without donor restrictions | $113,435,574 |
| Net assets with donor restrictions | $229,618,590 |
| 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 | $451,952,769 |