Tennessee Medical Education Fund Inc
- Assets
- $3.9m
- Revenue
- $343.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 07/1965
- Data as of
- 12/2021
- EIN
- 62-6049920
Organization Overview
Tennessee Medical Education Fund Inc is located in Nashville, TN. The organization was established in 1965. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Medical Education Fund 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, Tennessee Medical Education Fund Inc generated $343.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $352.8k during the year ending 12/2021. While expenses have increased by 11.6% 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.
Since 2019, Tennessee Medical Education Fund Inc has awarded 13 individual grants totaling $454,500. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE TENNESSEE MEDICAL EDUCATION FUND, INC. IS TO PROVIDE FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS TO QUALIFIED APPLICANTS ENROLLED IN MEDICAL SCHOOL. IN ADDITION, TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND SCHOLARSHIPS TO PHYSICIANS ATTENDING THE JOHN INGRAM INSTITUTE OF THE TENNESSEE MEDICAL ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TENNESSEE MEDICAL EDUCATION FUND, INC. IS ORGANIZED FOR THE PURPOSE OF PROVIDING SCHOLARSHIPS TO QUALIFIED MEDICAL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Alan Higdon MD Chair | OfficerTrustee | 2 | $0 |
Maysoonshocair Ali MD Vice Chair | OfficerTrustee | 2 | $0 |
Gary Keith Loevlady MD Secretary/tr | OfficerTrustee | 1 | $0 |
Subhi Dawud Suboh Ali MD CEO | Officer | 2 | $0 |
Mitchell L Mutter MD Director | Trustee | 1 | $0 |
Neal Stanly Beckford MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,502 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,502 |
| Total Program Service Revenue | $36,748 |
| Investment income | $217,227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $343,365 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $193,500 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $24,897 |
| Advertising and promotion | $0 |
| Office expenses | $183 |
| Information technology | $1,500 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,142 |
| All other expenses | $0 |
| Total functional expenses | $352,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,709 |
| Savings and temporary cash investments | $6,924 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $650 |
| 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 | $29,840 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,780,603 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,892,726 |
| Accounts payable and accrued expenses | $104,681 |
| Grants payable | $0 |
| Deferred revenue | $8,000 |
| 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 | $0 |
| Total liabilities | $112,681 |
| Net assets without donor restrictions | $3,780,045 |
| Net assets with donor restrictions | $0 |
| 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 | $3,892,726 |
Grants Awarded
Over the last fiscal year, Tennessee Medical Education Fund Inc has awarded $193,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
U OF T HEALTH SCIENCE CENTER | | | $85,500 |
ETSU QUILLEN COLLEGE OF MEDICINE | | | $76,500 |
Nashville, TN | | $19,000 |
Harrogate, TN | | $6,500 |
Nashville, TN | | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Tennessee Medical Education Fund Inc has recieved totaling $39,550.
| Awarding Organization | Amount |
|---|---|
Tennessee Medical Association Nashville, TN | | $39,502 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $48 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capital Impact Partners Arlington, VA | $600,473,548 | $55,782,044 |
Alabama One Credit Union Tuscaloosa, AL | $937,318,452 | $41,746,504 |
Educational Funding of the South Inc Franklin, TN | $0 | $32,440,997 |
Commonwealth Forest Investments Atlanta, GA | $527,167 | $63 |
Educap Inc Sterling, VA | $80,424,876 | $4,047,763 |
Mississippi Higher Education Assistance Corporation Jackson, MS | $167,450,530 | $7,686,362 |
Tupelo Service Finance Inc Tupelo, MS | $0 | $1,135,587 |
Greater Kingsport Alliance For Development Inc Kingsport, TN | $2,425,970 | $1,438,393 |
Student Loan Guarantee Foundation Of Arkansas North Little Rock, AR | $5,532,296 | $1,265 |
Tennessee Medical Education Fund Inc Nashville, TN | $3,892,726 | $343,365 |
Alabama Multifamily Loan Consortium Montgomery, AL | $54,767,808 | $316,680 |
Southeastern Bankruptcy Law Institute Inc Decatur, GA | $454,578 | $294,194 |