Sealy & Smith Foundation
- Assets
- $1.8b
- Revenue
- $193.8m
- Investments
- $465.6m
- Employees
- 7
- Location
- Galveston, TX
- Founding
- 03/1938
- Data as of
- 12/2021
- EIN
- 74-1109652
Organization Overview
Sealy & Smith Foundation is located in Galveston, TX. The organization was established in 1938. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Sealy & Smith Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sealy & Smith 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 12/2021, Sealy & Smith Foundation generated $193.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $59.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sealy & Smith Foundation has awarded 40 individual grants totaling $130,078,631. 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
SUPPORT OF THE JOHN SEALY HOSPITAL / UNIVERSITY OF TEXAS MEDICAL BRANCH AT GALVESTON (UTMB).
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES TO SUPPORT THE JOHN SEALY HOSPITAL / UTMB - GALVESTON. SEE SCHEDULE I.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas G Rogers Exec Dir/ Se | Officer | 45 | $295,360 |
James S Jobe Asst Sec/tre | Officer | 45 | $160,000 |
Gladys Stansberry Asst Treasur | Officer | 45 | $107,478 |
John W Kelso President/di | OfficerTrustee | 5 | $54,000 |
Michael C Doherty Vice Preside | OfficerTrustee | 5 | $54,000 |
E J Pederson Director | Trustee | 5 | $54,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Llc Invest Managers | 12/30/21 | $884,779 |
Silchester International Investors Invest Managers | 12/30/21 | $642,999 |
Focused Investors Llc Invest Managers | 12/30/21 | $586,644 |
Edgbaston Asian Equity Trust C/o The Northern Trusy Company Invest Managers | 12/30/21 | $268,907 |
Colchester Global Investors Inc Invest Managers | 12/30/21 | $286,668 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $27,776,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $24,009,713 |
| Net Rental Income | $1,837,578 |
| Net Gain/Loss on Asset Sales | $137,460,172 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $193,760,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,371,334 |
| 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. | $909,338 |
| Compensation of current officers, directors, key employees. | $909,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $111,300 |
| Pension plan accruals and contributions | $61,440 |
| Other employee benefits | $62,942 |
| Payroll taxes | $39,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,383 |
| Fees for services: Accounting | $68,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,481,394 |
| Fees for services: Other | $40,531 |
| Advertising and promotion | $0 |
| Office expenses | $35,261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,900 |
| 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 | $41,672 |
| All other expenses | $1,903 |
| Total functional expenses | $59,944,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,250 |
| Savings and temporary cash investments | $93,048,370 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $595,180 |
| 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 | $61,560 |
| Net Land, buildings, and equipment | $8,514,593 |
| Investments—publicly traded securities | $1,206,877,335 |
| Investments—other securities | $465,616,925 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,978,451 |
| Total assets | $1,823,742,664 |
| Accounts payable and accrued expenses | $327,816 |
| Grants payable | $142,794,696 |
| Deferred revenue | $80,256 |
| 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 | $1,477,688 |
| Total liabilities | $144,680,456 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,679,062,208 |
| 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 | $1,823,742,664 |
Grants Awarded
Over the last fiscal year, Sealy & Smith Foundation has awarded $54,371,334 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
JOHN SEALY HOSPITALUTMB PURPOSE: SEE ATTACHED DETAIL | $52,692,750 |
THE UNIVERSITY OF TEXAS MEDICAL BRA PURPOSE: PRIMARY CARE PAVILIO | $617,110 |
THE UNIVERSITY OF TEXAS MEDICAL BRA PURPOSE: UTMB HUMAN RESOURCES | $404,504 |
THE UNIVERSITY OF TEXAS MEDICAL BRA PURPOSE: UTMB OPHTHALMOLOGY C | $232,740 |
THE UNIVERSITY OF TEXAS MEDICAL BRA PURPOSE: R. WAVERLEY SMITH PA | $185,883 |
THE UNIVERSITY OF TEXAS MEDICAL BRA PURPOSE: UTMB PARKING LOT & G | $129,557 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Essential Healthcare Partnerships Foundation Austin, TX | $3,184,613 | $86,533,051 |
Baptist Health Services Little Rock, AR | $51,469,112 | $76,869,884 |
Sealy & Smith Foundation Galveston, TX | $1,823,742,664 | $193,760,950 |
Mountaire Employees Medical Benefit Trust Little Rock, AR | $4,300,671 | $51,578,567 |
Transport Workers Mta Health And Welfare Tr Houston, TX | $10,025,707 | $53,517,376 |
Harris County Hospital District Foundation Bellaire, TX | $42,615,141 | $23,031,096 |
W I Cook Foundation Inc Fort Worth, TX | $3,246,012,284 | $259,660,047 |
Childrens Medical Center Foundation Dallas, TX | $1,970,405,088 | $64,214,565 |
Gshs Administrative Services Organization Inc Longview, TX | $3,821,992 | $32,386,518 |
Memorial Hermann Foundation Houston, TX | $128,175,720 | $33,729,240 |
St Joseph Services Corporation Bryan, TX | $46,581,742 | $27,740,881 |
Georges Inc Medical Tr Springdale, AR | $1,768,217 | $27,212,707 |