Meharry Medical College
- Assets
- $412.5m
- Revenue
- $200.7m
- Investments
- $47.5m
- Employees
- 1,342
- Location
- Nashville, TN
- Founding
- 09/1937
- Data as of
- 06/2022
- 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 06/2022, Meharry Medical College employed 1,342 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 06/2022, Meharry Medical College generated $200.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $194.5m during the year ending 06/2022. While expenses have increased by 6.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH AND HEALTHCARE OF MINORITY AND UNDER SERVED COMMUNITIES BY OFFERING EXCELLENT EDUCATION AND TRAINING PROGRAMS IN THE HEALTH SCIENCES; DELIVERING HIGH QUALITY HEALTH SERVICES; AND CONDUCTING 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, AND MEDICAL SCIENCE AND ALLIED HEALTH PROFESSION. DEGREES CONFERRED INCLUDE: MD, DDS, MHS, MSPH, AND PHD. (NUMBER OF GRADUATES FROM THE PROGRAMS: 331).
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: 67,196).
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, WOMEN'S HEALTH, COMMUNITY ENGAGEMENT) WITH A PRIMARY FOCUS ON HEALTH DISPARITIES RESEARCH. (NUMBER OF NEW GRANTS FOR THE YEAR: 51).
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: 67,196).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James E K Hildreth President/ceo | Officer | 40 | $826,470 |
Lamel Bandy-Neal Senior VP Finance / CFO | Officer | 40 | $826,324 |
Duane Smoot Interim SVP Health Affairs | Officer | 40 | $489,249 |
Veronica T Mallett Former Dean School Of Medicine/ Professor | Officer | 40 | $449,764 |
Carlton Adams Chair Surgery/trustee | Trustee | 40 | $449,221 |
Ivanetta D Samuels Svp/ General Counsel | Officer | 40 | $419,077 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ellucian Company L P Information Technology Managment Services | 6/29/22 | $1,272,002 |
Addison Group Employment Services | 6/29/22 | $1,029,072 |
Aramark Facility Services Facilties Management Services | 6/29/22 | $8,911,328 |
Apogee Telecom Inc Information Technology Services | 6/29/22 | $440,828 |
Eclinicalworks Llc Patient Emr System Management Services | 6/29/22 | $540,828 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $103,721,051 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,666,098 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $133,387,149 |
| Total Program Service Revenue | $71,117,177 |
| Investment income | $4,699,041 |
| 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 | $200,654,112 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $33,661,136 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,191,686 |
| Compensation of current officers, directors, key employees. | $2,357,307 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,475,809 |
| Pension plan accruals and contributions | $1,946,537 |
| Other employee benefits | $8,780,605 |
| Payroll taxes | $5,207,829 |
| Fees for services: Management | $25,357,340 |
| Fees for services: Legal | $1,843,257 |
| Fees for services: Accounting | $120,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $180,645 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,629,149 |
| Advertising and promotion | $68,948 |
| Office expenses | $10,545,906 |
| Information technology | $9,228,986 |
| Royalties | $0 |
| Occupancy | $4,670,204 |
| Travel | $958,656 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $196,624 |
| Interest | $342,356 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,047,950 |
| Insurance | $1,923,924 |
| All other expenses | $0 |
| Total functional expenses | $194,548,027 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,144,591 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,360,218 |
| Accounts receivable, net | $26,409,108 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $37,250 |
| Prepaid expenses and deferred charges | $2,075,766 |
| Net Land, buildings, and equipment | $148,962,651 |
| Investments—publicly traded securities | $123,083,437 |
| Investments—other securities | $47,452,112 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $412,525,133 |
| Accounts payable and accrued expenses | $14,568,496 |
| Grants payable | $752 |
| Deferred revenue | $11,367,994 |
| Tax-exempt bond liabilities | $33,047,433 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $12,958,344 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,611,936 |
| Total liabilities | $78,554,955 |
| Net assets without donor restrictions | $108,107,876 |
| Net assets with donor restrictions | $225,862,302 |
| 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 | $412,525,133 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Meharry Medical College has recieved totaling $30,250.
| Awarding Organization | Amount |
|---|---|
Thomas & Betty Ross Family Foundation Inc Lake Worth, FL PURPOSE: CHARITABLE SUPPORT | $30,000 |
Turner Dream Foundation Chula Vista, CA PURPOSE: EDUCATION | $250 |
Endowment Analysis
| Beg. Balance | $199,433,008 |
| Earnings | -$9,172,394 |
| Admin Expense | $1,595,530 |
| Net Contributions | $2,646,119 |
| Other Expense | $9,128,074 |
| Ending Balance | $182,183,129 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wake Forest University Health Sciences Winstonsalem, NC | $4,063,609,787 | $629,827,374 |
Edward Via Virginia College Of Osteopathic Medicine Blacksburg, VA | $145,957,395 | $234,038,935 |
The Morehouse School Of Medicine Inc Atlanta, GA | $361,935,866 | $278,498,387 |
Meharry Medical College Nashville, TN | $412,525,133 | $200,654,112 |
A T Still University Of Health Sciences Kirksville, MO | $449,186,394 | $205,517,169 |
Regent University Virginia Bch, VA | $198,531,120 | $146,100,069 |
Kansas City University Kansas City, MO | $396,275,959 | $114,344,236 |
Augusta University Research Institute Inc Augusta, GA | $21,382,894 | $80,266,513 |
University Of Health Sciences And Pharmacy In St Louis Saint Louis, MO | $314,379,266 | $75,273,875 |
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Asbury Theological Seminary Wilmore, KY | $333,796,449 | $52,800,131 |
Logan University Chesterfield, MO | $101,664,851 | $38,500,877 |