Medical Foundation Inc Non Profit Organization
- Assets
- $1.4m
- Revenue
- $33.2m
- Investments
- $0.0
- Employees
- 339
- Location
- Meridian, MS
- Founding
- 04/1996
- Data as of
- 12/2022
- EIN
- 64-0834532
Organization Overview
Medical Foundation Inc Non Profit Organization is located in Meridian, MS. The organization was established in 1996. According to its NTEE Classification (E32) the organization is classified as: Community Clinics, under the broad grouping of Health Care and related organizations. As of 12/2022, Medical Foundation Inc Non Profit Organization employed 339 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Foundation Inc Non Profit Organization 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, Medical Foundation Inc Non Profit Organization generated $33.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $52.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 7 years. 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
PROVIDE HEALTH CARE SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MEDICAL SERVICES AND HEALTH CARE AWARENESS TO THE COMMUNITY, INCLUDING GENERAL PUBLIC, INDIGENT, MEDICARE AND MEDICAID PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Alderman Board Member | Trustee | 1 | $0 |
Judy Doorenbos Board Member | Trustee | 1 | $0 |
Cathy Robinson Board Member | Trustee | 1 | $0 |
Donnie Smith Board Member | Trustee | 1 | $0 |
David Malloy MD Board Member | Trustee | 1 | $0 |
Walt Willis Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meridian Imaging Pa Imaging Services | 12/30/22 | $1,008,047 |
Radar Healthcare Providers Medical Services | 12/30/22 | $263,450 |
Reginald Risgsby Md Medical Services | 12/30/22 | $178,838 |
John Johnston Md Medical Services | 12/30/22 | $161,218 |
Cbt Anesthesia Medical Services | 12/30/22 | $144,450 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,476,396 |
| 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 | $1,476,396 |
| Total Program Service Revenue | $31,648,009 |
| Investment income | $61,408 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,398 |
| 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 | $33,212,172 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $29,051,240 |
| Pension plan accruals and contributions | $186,098 |
| Other employee benefits | $2,339,400 |
| Payroll taxes | $1,739,445 |
| Fees for services: Management | $5,501,634 |
| 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 | $5,173,944 |
| Advertising and promotion | -$99 |
| Office expenses | $300,055 |
| Information technology | $875 |
| Royalties | $0 |
| Occupancy | $1,206,206 |
| Travel | $51,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $324,847 |
| Interest | $45,997 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,472 |
| Insurance | $706,674 |
| All other expenses | $63,856 |
| Total functional expenses | $52,682,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,027,089 |
| 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 | $39,606 |
| Net Land, buildings, and equipment | $312,750 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,461 |
| Total assets | $1,447,906 |
| Accounts payable and accrued expenses | $2,947,816 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,736,410 |
| Total liabilities | $21,684,226 |
| Net assets without donor restrictions | -$20,236,320 |
| 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 | $1,447,906 |
Grants Awarded
Over the last fiscal year, Medical Foundation Inc Non Profit Organization has awarded $494,211 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RUSH MEDICAL GROUP OF NEWTON PA PURPOSE: AFFILIATE SUPPORT | $415,346 |
RUSH HOME CARE INC PURPOSE: AFFILILATE SUPPORT | $78,865 |