The Degen Foundation
- Assets
- $13.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Smith, AR
- Founding
- 08/1983
- Data as of
- 06/2022
- EIN
- 71-0575827
Organization Overview
The Degen Foundation is located in Fort Smith, AR. The organization was established in 1983. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Degen Foundation 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, Degen Foundation generated $4.5m in total revenue. All expenses for the organization totaled $625.7k during the year ending 06/2022.
Since 2021, Degen Foundation has awarded 11 individual grants totaling $806,997. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND DEVELOP ACCESS TO AND DELIVERY OF HEALTHCARE SERVICES IN WESTERN ARKANSAS AND EASTERN OKLAHOMA, TO IMPROVE THE QUALITY AND AVAILABILITY OF HEALTHCARE SERVICES, TO FACILITATE AND PROMOTE HEALTHCARE EDUCATION, TO AID AND SUPPORT ESTABLISHED RELIGIOUS AND CHARITABLE ORGANIZATIONS, AND TO SUPPORT AND FACILITATE AS A SUPPORTING ORGANIZATION THE EDUCATIONAL MISSION OF THE ARKANSAS COLLEGES OF HEALTHCARE EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED TO ADMINISTER GIFTS IN SUPPORT OF SPARKS HEALTH SYSTEM AND TO PROMOTE THE HEALTHCARE SERVICES OF SPARKS HEALTH SYSTEM AS A SUPPORTING ORGANIZATION. SPARKS HEALTH SYSTEM ASSETS WERE SOLD 11/30/2009 AND THE ORGANIZATION WILL ASSIST IN DISTRIBUTING, WHEN NEEDED, THE PROCEEDS FROM THE SALE IN SUPPORT OF CHARITABLE 501(C)3 ORGANIZATIONS IN WESTERN ARKANSAS AND EASTERN OKLAHOMA. ON APRIL 18, 2014 THE BOARD OF SPARKS PASSED A RESOLUTION TO CONTRIBUTE UP TO $50,000,000 AS A RESTRICTED CONTRIBUTION IN SUPPORT OF DEVELOPING AN INSTITUTION OF HEALTH EDUCATION. THE ARKANSAS COLLEGES OF HEALTH EDUCATION (ACHE) WAS ORGANIZED AND THE BALANCE OF THE SPARKS FUNDS WERE TRANSFERRED TO ACHE IN SEPTEMBER 2017. IN JUNE 2019, THE DEGEN BOARD VOTED TO BECOME A SUPPORTING ORGANIZATION TO ACHE WHILE CONTINUING TO FUND LOCAL AND RELIGIOUS HEALTHCARE RELATED TO 501(C)3 ORGANIZATIONS AND HEALTHCARE RELATED STUDENT SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Pharis Chair | OfficerTrustee | 1 | $0 |
John R Taylor Treasurer | OfficerTrustee | 1 | $0 |
Judy Boreham Dawson Director | Trustee | 1 | $0 |
Benny Gooden Edd Director | Trustee | 1 | $0 |
Robert Cooper Vice Chair | OfficerTrustee | 1 | $0 |
David Craig 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 | $30 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30 |
| Total Program Service Revenue | $0 |
| Investment income | $234,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,228,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,463,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $456,174 |
| Grants and other assistance to domestic individuals. | $75,500 |
| 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 | $40,200 |
| Fees for services: Legal | $1,025 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,050 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $789 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $225 |
| 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 | $17,566 |
| All other expenses | $1,161 |
| Total functional expenses | $625,690 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,298 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,820,448 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,360,826 |
| Total assets | $13,382,572 |
| Accounts payable and accrued expenses | $101,233 |
| 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 | $0 |
| Total liabilities | $101,233 |
| Net assets without donor restrictions | $13,260,868 |
| Net assets with donor restrictions | $20,471 |
| 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 | $13,382,572 |
Grants Awarded
Over the last fiscal year, The Degen Foundation has awarded $431,849 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ARKANSAS COLLEGES OF HEALTH EDUCATION PURPOSE: SUPPORT MEDICAL SCHOOL | $371,849 |
COMMUNITY DENTAL CLINIC PURPOSE: FOR PURCHASE OF WALL MOUNTED COMPUTER STATIONS AND MONITORS | $20,000 |
FORT SMITH CHILDREN'S SERVICE LEAGUE PURPOSE: ANNUAL YEAR END SUPPORT | $5,000 |
GOSPEL RESCUE MISSION PURPOSE: ANNUAL YEAR END SUPPORT | $10,000 |
GOOD SAMARITAN CLINIC PURPOSE: FOR PURCHASE OF SOFTWARE AND HARDWARE FOR INFORMATION TECHNOLOGY IMPROVEMENTS | $25,000 |