Ocean Reef Medical Center Foundation Inc
- Assets
- $62.2m
- Revenue
- $11.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Key Largo, FL
- Founding
- 02/1994
- Data as of
- 06/2021
- EIN
- 65-0443146
Organization Overview
Ocean Reef Medical Center Foundation Inc is located in Key Largo, FL. The organization was established in 1994. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Reef Medical Center 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 06/2021, Ocean Reef Medical Center Foundation Inc generated $11.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $4.5m during the year ending 06/2021. While expenses have increased by 6.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT CHARITABLE UNDERTAKING OF THE MEDICAL CENTER AT OCEAN REEF, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SERVES AS A SUPPORTING ORGANIZATION TO BENEFIT THE MEDICAL CENTER AT OCEAN REEF, INC. AND OTHER NON PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adelaide Skoglund Chairman | OfficerTrustee | 2 | $0 |
Dan Harding Vice Chairman | OfficerTrustee | 2 | $0 |
Christina Fisher Secretary | OfficerTrustee | 2 | $0 |
Tom Davidson Vice Chairman | OfficerTrustee | 2 | $0 |
Dominic Di Napoli Treasurer | OfficerTrustee | 2 | $0 |
Steve Parker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $144,400 |
| Fundraising events | $55,000 |
| Related organizations | $0 |
| Government grants | $12,209 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,873,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,085,295 |
| Total Program Service Revenue | $0 |
| Investment income | $675,491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,123,514 |
| Net Income from Fundraising Events | $456,271 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,344,677 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,182,883 |
| 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 | $73,638 |
| Pension plan accruals and contributions | $4,355 |
| Other employee benefits | $11,553 |
| Payroll taxes | $2,528 |
| Fees for services: Management | $157,836 |
| Fees for services: Legal | $1,158 |
| Fees for services: Accounting | $28,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,727 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $12,257 |
| Information technology | $0 |
| 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 | $115,735 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $758,397 |
| Insurance | $0 |
| All other expenses | $15,408 |
| Total functional expenses | $4,525,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,319,383 |
| 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 | $1,014,163 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $80,455 |
| Net Land, buildings, and equipment | $18,448,963 |
| Investments—publicly traded securities | $40,366,104 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $62,229,068 |
| Accounts payable and accrued expenses | $75,689 |
| 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 | $1,956,550 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,492 |
| Total liabilities | $2,034,731 |
| Net assets without donor restrictions | $60,080,861 |
| Net assets with donor restrictions | $113,476 |
| 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 | $62,229,068 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ocean Reef Medical Center Foundation Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Slattery Family Foundation Inc Key Largo, FL PURPOSE: TO PROVIDE CARING AND PROFESSIONAL MEDICAL SERVICES AND HEALTH EDUCATION TO THE OCEAN REEF COMMUNITY. | $50,000 |
Endowment Analysis
| Beg. Balance | $112,469 |
| Earnings | $1,007 |
| Ending Balance | $113,476 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Healthcare System Inc Warner Robins, GA | $2,831,389 | $10,479,781 |
Montgomery Baptist Outreach Services Corporation Montgomery, AL | $20,272,262 | $12,064,663 |
West Florida Health Home Care Inc Temple Terrace, FL | $9,306,071 | $17,546,584 |
West Georgia Health Foundation Inc Marietta, GA | $8,141,093 | $4,609,093 |
Mount Sinai Medical Center Foundation Inc Miami Beach, FL | $381,873,831 | $56,255,268 |
Baptist Health System Foundation Inc Jacksonville, FL | $315,907,780 | $49,455,199 |
Harry-Anna Investment Fund Inc Umatilla, FL | $366,026,272 | $19,311,670 |
Morton Plant Mease Health Care Foundation Inc Clearwater, FL | $126,171,724 | $8,632,525 |
Ufcw & Employers Health & Welfare T Rust Fund Pembroke Pines, FL | $22,540,829 | $18,806,803 |
Lakeland Regional Medical Center Foundation Inc Lakeland, FL | $42,454,148 | $10,633,675 |
Alabama Childrens Hospital Foundation Birmingham, AL | $1,336,728,368 | $67,689,862 |
Plumbers & Pipefitters Local 421 Health & Welfare Fund Pembroke Pines, FL | $21,305,656 | $12,681,000 |