Memorial Foundation Inc
- Assets
- $145.0m
- Revenue
- $26.7m
- Investments
- $132.9m
- Employees
- 5
- Location
- Hendersonville, TN
- Founding
- 12/1983
- Data as of
- 12/2021
- EIN
- 62-1202302
Organization Overview
Memorial Foundation Inc is located in Hendersonville, TN. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2021, Memorial Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Foundation Inc 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 12/2021, Memorial Foundation Inc generated $26.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $8.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Memorial Foundation Inc has awarded 1,657 individual grants totaling $55,357,131. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE QUALITY OF LIFE FOR PEOPLE THROUGH SUPPORT OF NONPROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING GRANTS TO OTHER 501(C)(3) ORGANIZATIONS.
PROVIDING GRANTS TO OTHER 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott S Perry President | 40 | $297,659 | |
Jackson Routh Vice Pres, Programs And Grants | 40 | $168,407 | |
Judy Milliken Vice Pres, Finance | 40 | $107,316 | |
Joyce Douglas Executive Assistant | 40 | $72,928 | |
Lauren Willoughby Program Officer | 40 | $58,100 | |
David E Mckee Chair | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dcw Construction Co Inc Construction | 12/30/18 | $160,153 |
Dyer Construction Construction | 12/30/18 | $158,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $857,379 |
| Interest on Savings | $137,779 |
| Dividends & Interest | $4,909,201 |
| Net Rental Income | -$129,695 |
| Net Gain on Sale of Assets | $20,481,376 |
| Capital Gain Net Income | $20,481,376 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$6,494 |
| Total Revenue | $26,657,914 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $573,382 |
| Other employee salaries and wages | $131,027 |
| Pension plans, employee benefits | $216,867 |
| Interest | $0 |
| Taxes | $431,817 |
| Depreciation | $104,685 |
| Occupancy | $94,723 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $420,710 |
| Total operating and administrative expenses | $3,174,785 |
| Contributions, gifts, grants paid | $5,723,060 |
| Total expenses and disbursements | $8,897,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,630,862 |
| Savings and temporary cash investments | $4,373,678 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,471 |
| Net Investments - land, buildings, equipment | $24,717 |
| Investments—mortgage loans | $0 |
| Investments—other | $132,902,567 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $144,950,295 |
| Accounts payable and accrued expenses | $181,452 |
| Grants payable | $694,324 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $217,988 |
| Total liabilities | $1,093,764 |
Grants Awarded
Over the last fiscal year, Memorial Foundation Inc has awarded $5,723,060 in support to 193 organizations.
| Grant Recipient | Amount |
|---|---|
FIFTYFORWARD PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $215,000 |
SOUTHWEST TENNESSEE DEVELOPMENT DISTRICT PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $208,110 |
Nashville, TN PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $100,000 |
Nashville, TN PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $100,000 |
Nashville, TN PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $100,000 |
Nashville, TN PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Memorial Foundation Inc has recieved totaling $1,002,732.
| Awarding Organization | Amount |
|---|---|
Seniortrust Of Florida Inc Nashville, TN PURPOSE: THE FOCUS OF THIS DISTRIBUTION WAS TO FURTHER THE CHARITABLE PURPOSES OF ORGANIZATION | $857,434 |
United Way Of Broward County Fort Lauderdale, FL PURPOSE: General Support | $120,298 |
The Weil Foundation Tucson, AZ PURPOSE: EDUCATION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greene County Health Care Incorporated Snow Hill, NC | $16,532,428 | $23,396,721 |
St Vincent Ras Inc St Louis, MO | $32,804,028 | $6,446,030 |
Family Health Care Clinic Inc Jackson, MS | $11,024,389 | $20,801,321 |
Hamilton Health Care System Inc Dalton, GA | $145,238,251 | $25,063,501 |
Carolina Healthcare Associates Inc Wilmington, NC | $39,295,551 | $17,817,277 |
Mississippi Bapt Health Systems Inc Jackson, MS | $17,594,565 | $17,908,951 |
St Vincent Jennings Hospital Inc St Louis, MO | $11,643,648 | $21,973,222 |
Mercy Hospital Cassville Cassville, MO | $6,399,799 | $16,353,383 |
Appalachian Mountain Community He Asheville, NC | $14,237,249 | $21,637,722 |
Providence Hospital St Louis, MO | $40,301,832 | $6,465,043 |
Henderson County Health Care Corporation Henderson, KY | $21,606,323 | $14,826,230 |
Juniper Health Inc Beattyville, KY | $22,989,895 | $17,799,078 |