Texas Heart Institute
- Assets
- $283.9m
- Revenue
- $58.9m
- Investments
- $0.0
- Employees
- 199
- Location
- Houston, TX
- Founding
- 05/1964
- Data as of
- 12/2021
- EIN
- 74-6053200
Organization Overview
Texas Heart Institute is located in Houston, TX. The organization was established in 1964. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, under the broad grouping of Medical Research and related organizations. As of 12/2021, Texas Heart Institute employed 199 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Heart Institute 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, Texas Heart Institute generated $58.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $36.9m during the year ending 12/2021. 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 REDUCE THE DEVASTATING TOLL OF CARDIOVASCULAR DISEASE THROUGH INNOVATIVE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emerson Perin Medical Director | Officer | 25 | $560,000 |
Joseph G Rogers MD President & CEO | Officer | 40 | $501,918 |
Richard Dixon Director Mcrl | Officer | 40 | $419,944 |
Howard Schramm Treasurer & Cao/cfo | Officer | 40 | $392,308 |
Ronald Biediger Director Mcrl Chemistry | Officer | 40 | $246,082 |
Peter Vanderslice Director Mcrl Biology | Officer | 40 | $246,082 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ecg Mgmt Consultants Consulting | 12/30/21 | $790,909 |
Bdo Usa Llp Accounting | 12/30/21 | $252,650 |
Medhi Razavi Medical Research | 12/30/21 | $154,000 |
Public Content Public Relations | 12/30/21 | $252,346 |
Fayez Sarofim & Co Investment Management | 12/30/21 | $223,158 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,528,563 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,199,369 |
| Noncash contributions included in lines 1a–1f | $27,765,846 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,727,932 |
| Total Program Service Revenue | $2,677,831 |
| Investment income | $2,775,080 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $314,000 |
| Net Gain/Loss on Asset Sales | $2,414,992 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,909,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,016,655 |
| 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. | $2,702,708 |
| Compensation of current officers, directors, key employees. | $887,909 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,696,426 |
| Pension plan accruals and contributions | $546,831 |
| Other employee benefits | $1,617,376 |
| Payroll taxes | $883,960 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $281,612 |
| Fees for services: Accounting | $79,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $647,435 |
| Fees for services: Other | $3,388,139 |
| Advertising and promotion | $495,170 |
| Office expenses | $375,657 |
| Information technology | $362,526 |
| Royalties | $0 |
| Occupancy | $2,377,258 |
| Travel | $25,681 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,146 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,617,821 |
| Insurance | $438,749 |
| All other expenses | $4,221 |
| Total functional expenses | $36,916,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,408,727 |
| Savings and temporary cash investments | $558,834 |
| Pledges and grants receivable | $2,224,184 |
| Accounts receivable, net | $1,172,610 |
| 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 | $470,455 |
| Net Land, buildings, and equipment | $21,106,485 |
| Investments—publicly traded securities | $158,986,089 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $97,969,054 |
| Total assets | $283,896,438 |
| Accounts payable and accrued expenses | $1,639,102 |
| Grants payable | $0 |
| Deferred revenue | $2,710,815 |
| 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 | $1,952,249 |
| Total liabilities | $6,302,166 |
| Net assets without donor restrictions | $130,771,183 |
| Net assets with donor restrictions | $146,823,089 |
| 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 | $283,896,438 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Texas Heart Institute has recieved totaling $811,618.
| Awarding Organization | Amount |
|---|---|
American Heart Association Inc Dallas, TX PURPOSE: RESEARCH | $295,072 |
University Of Miami Coral Gables, FL PURPOSE: RESEARCH | $201,796 |
Clutch City Foundation Houston, TX PURPOSE: IMPROVE COMMUNITY | $200,000 |
Ellwood Foundation Houston, TX PURPOSE: CARDIOLOGY RESEARCH | $30,000 |
William A And Madeline Welder Smith Foundation Houston, TX PURPOSE: RESEARCH UNDER THE DIRECTION OF DR. PERIN | $25,000 |
Greater Houston Community Foundation Houston, TX PURPOSE: HEALTH | $16,500 |
Endowment Analysis
| Beg. Balance | $36,896,218 |
| Earnings | $8,602,802 |
| Net Contributions | $101 |
| Grants | $571,660 |
| Ending Balance | $44,927,461 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Heart Institute Houston, TX | $283,896,438 | $58,909,835 |
Leducq Foundation For Cardiovascular Research Houston, TX | $65,970,226 | $8,208,035 |
Oklahoma Heart Hospital Research Foundation Oklahoma City, OK | $1,593,414 | $1,143,021 |
Johnsie & Aubary Montgomeryinstitute Of Med Edu & Research Inc Houston, TX | $940,251 | $444,645 |
Oklahoma Heart Research And Education Foundation Tulsa, OK | $380,422 | $410,637 |
Championship Hearts Foundation Austin, TX | $19,949 | $292,532 |
Interventional Cardiology Research Foundation Metairie, LA | $1,734,129 | $181,595 |
Housten Center For Vascular Health Houston, TX | $69,087 | $0 |
Coastal Heart Foundation San Antonio, TX | $117,119 | $8,564 |
Cardiopulmonary Research Science and Technology Institute Dallas, TX | $217,260 | $0 |