Knapp Medical Center Foundation Inc
- Assets
- $12.4m
- Revenue
- $1.6m
- Investments
- $12.4m
- Employees
- 0
- Location
- Weslaco, TX
- Founding
- 12/1982
- Data as of
- 12/2021
- EIN
- 74-2213711
Organization Overview
Knapp Medical Center Foundation Inc is located in Weslaco, TX. The organization was established in 1982. According to its NTEE Classification (G12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knapp 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 12/2021, Knapp Medical Center Foundation Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $586.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE KNAPP MEDICAL CENTER FOUNDATION WAS FORMED IN 1981 AS A NOT-FOR-PROFIT CORPORATION BENEFITING KNAPP MEDICAL CENTER AND THE THOUSANDS OF CHILDREN AND ADULTS SERVED EACH YEAR BY THE WESLACO HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION MAKES AN ANNUAL CONTRIBUTION TO KNAPP MEDICAL CENTER. A CONTRIBUTION WAS NOT MADE DURING THE CURRENT YEAR ENDED JUNE 30, 2015, AS THE FOUNDATION TRANSITIONED ITS CONTROL TO KNAPP COMMUNITY CARE FOUNDATION, NOR WAS AN ACCRUED AMOUNT ABLE TO BE DETERMINED AND PAID WITHIN THE REQUIRED TIME PERIOD. THE CONTRIBUTION FOR THE FISCAL YEAR ENDED JUNE 30, 2015, WILL BE MADE DURING THE FISCAL YEAR ENDED JUNE 30, 2016.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Carter President | 1 | $0 | |
Ryan Vaughan Vice President | 1 | $0 | |
Michelle Castellanos Director | 1 | $0 | |
Nina Torkelson Secretary/treasurer | 1 | $0 | |
Spencer Bell Director | 1 | $0 | |
Ramon Montalvo III Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $250,933 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,366,754 |
| Capital Gain Net Income | $1,366,754 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $24 |
| Total Revenue | $1,617,711 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $27,502 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $289 |
| Total operating and administrative expenses | $71,645 |
| Contributions, gifts, grants paid | $515,000 |
| Total expenses and disbursements | $586,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,855 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $12,370,706 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,180 |
| Total assets | $12,401,741 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Knapp Medical Center Foundation Inc has awarded $1,040,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Weslaco, TX PURPOSE: SUPPORT OPERATIONS OF THE FAMILY PRACTICE PROGRAM | $540,000 |
Weslaco, TX PURPOSE: KMC COVID-19 EMERGENCY SUPPORT | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kelsey Research Foundation Houston, TX | $10,072,702 | $2,621,345 |
San Antonio Cancer Foundation San Antonio, TX | $28,212,911 | $2,248,713 |
Mission Clinical Services Hot Springs, AR | $679,407 | $1,180,610 |
Texas 4000 For Cancer Austin, TX | $778,162 | $1,006,921 |
Triumph Over Kid Cancer Foundation Corpus Christi, TX | $1,064,676 | $789,744 |
Careity Foundation Fort Worth, TX | $2,308,296 | $1,614,148 |
Birds For Sofia Inc Frisco, TX | $0 | $0 |
Burning Limb Foundation Frisco, TX | $234,079 | $770,072 |
Sadie Keller Foundation Argyle, TX | $96,097 | $613,495 |
Cheyanna Foundation For Children Austin, TX | $980,670 | $718,140 |
Knapp Medical Center Foundation Inc Weslaco, TX | $12,401,741 | $1,617,711 |
Golfers Against Cancer Inc Houston, TX | $82,477 | $408,112 |