Houston Academy Of Medicine
- Assets
- $50.6m
- Revenue
- $9.8m
- Investments
- $32.6m
- Employees
- 42
- Location
- Houston, TX
- Founding
- 02/1995
- Data as of
- 12/2022
- EIN
- 74-1277657
Organization Overview
Houston Academy Of Medicine is located in Houston, TX. The organization was established in 1995. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. As of 12/2022, Houston Academy Of Medicine employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Houston Academy Of Medicine 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, Houston Academy Of Medicine generated $9.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $9.2m 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 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Houston Academy Of Medicine has awarded 63 individual grants totaling $1,802,809. 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
SUPPORTS EDUCATION AND SCIENTIFIC PROGRAMS FOR PHYSICIANS, PATIENTS, AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TEXAS MEDICAL CENTER LIBRARY (TMC LIBRARY) PROVIDES BOOKS, PERIODICALS, LIBRARIAN SERVICES, RARE BOOKS, AUTOMATED INFORMATION SERVICES & PHOTOCOPYING. THE LIBRARY WAS OPEN 89 HOURS PER WEEK DURING 2022. IT SERVED 75,424 VISITORS.
COMMUNITY HEALTH AND MEDICAL PROJECTS: THE ACADEMY SUPPORTS THE GREATER HOUSTON COMMUNITY BY MAKING CONTRIBUTIONS TO THE JOHN P. MCGOVERN MUSEUM OF HEALTH AND MEDICAL SCIENCE AND PROVIDING EDUCATION ON A VARIETY OF HEALTH-RELATED TOPICS INCLUDING TRAUMA SAFETY AND BIKE HELMETS. THE ACADEMY ALSO PROVIDES SUPPORT TO EMS UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Jackson MD President | OfficerTrustee | 5 | $0 |
Dwane G Broussard MD Vice President | OfficerTrustee | 2 | $0 |
Louise H Bethea MD Treasurer | OfficerTrustee | 2 | $0 |
Hattie E Henderson MD Secretary | OfficerTrustee | 2 | $0 |
Audrey E Ahuero MD Board Member | Trustee | 2 | $0 |
Ashok Balasubramanyam MD Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $167,845 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,045,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,213,312 |
| Total Program Service Revenue | $35,501 |
| Investment income | $1,094,238 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $46,330 |
| Net Gain/Loss on Asset Sales | $434,365 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,823,746 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $219,777 |
| 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. | $354,798 |
| Compensation of current officers, directors, key employees. | $73,187 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,538,893 |
| Pension plan accruals and contributions | $146,075 |
| Other employee benefits | $393,740 |
| Payroll taxes | $159,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $87,473 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,028 |
| Fees for services: Other | $36,436 |
| Advertising and promotion | $0 |
| Office expenses | $89,935 |
| Information technology | $163,369 |
| Royalties | $0 |
| Occupancy | $495,953 |
| Travel | $5,113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,775 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $234,412 |
| Insurance | $70,675 |
| All other expenses | $36,960 |
| Total functional expenses | $9,199,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,568,324 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $286,072 |
| 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 | $1,836,553 |
| Net Land, buildings, and equipment | $2,549,186 |
| Investments—publicly traded securities | $9,722,351 |
| Investments—other securities | $32,633,863 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,596,349 |
| Accounts payable and accrued expenses | $611,894 |
| Grants payable | $0 |
| Deferred revenue | $2,484,242 |
| 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 | $49,000 |
| Total liabilities | $3,145,136 |
| Net assets without donor restrictions | $44,850,842 |
| Net assets with donor restrictions | $2,600,371 |
| 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 | $50,596,349 |
Grants Awarded
Over the last fiscal year, Houston Academy Of Medicine has awarded $206,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
JOHN P MCGOVERN MUSEUM OF HEALTH & MEDICAL SCIENCE PURPOSE: General support | $150,000 |
TMA SPECIAL FUNDS FOUNDATION PURPOSE: General support | $50,000 |
TMA FOUNDATION PURPOSE: General support | $6,500 |