The Debakey Medical Foundation
- Assets
- $15.0m
- Revenue
- $1.8m
- Investments
- $13.4m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 11/1962
- Data as of
- 04/2023
- EIN
- 74-6053822
Organization Overview
The Debakey Medical Foundation is located in Houston, TX. The organization was established in 1962. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Debakey Medical 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 04/2023, Debakey Medical Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.0%) each year. All expenses for the organization totaled $3.7m during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Debakey Medical Foundation has awarded 39 individual grants totaling $18,502,971. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Herbert D Short III Pres/trustee | 10 | $100,000 | |
Dr George P Noon Treas/trustee | 1 | $5,000 | |
Dr Charles H Mccollum Sec/trustee | 1 | $5,000 | |
William H Caudill Trustee | 1 | $5,000 | |
David Lummis Trustee | 1 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,527 |
| Dividends & Interest | $1,798,772 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,940 |
| Capital Gain Net Income | $27,940 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,830,239 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $120,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $7,650 |
| Interest | $0 |
| Taxes | $69,759 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $99,617 |
| Total operating and administrative expenses | $513,333 |
| Contributions, gifts, grants paid | $3,138,188 |
| Total expenses and disbursements | $3,651,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,154 |
| Savings and temporary cash investments | $1,109,553 |
| 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 | $500 |
| Net Investments - land, buildings, equipment | $139,914 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,970,152 |
| 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, The Debakey Medical Foundation has awarded $3,138,188 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BAYLOR UNIVERSITY PURPOSE: MEDICAL HUMANITIES PROGRAM IN THE COLLEGE OF ARTS AND SCIENCES | $350,000 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: GEORGE P. NOON, M.D. ENDOWED CHAIR IN SURGERY | $500,000 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: MICHAEL E. DEBAKEY EXCELLENCE IN RESEARCH AWARDS | $50,000 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: MICHEAL E. DEBAKEY LIBRARY AND MUSEUM AND NEW MEDICAL SCHOOL BUILDING | $2,063,188 |
THE JOHN P MCGOVERN MUSEUM OF HEALTH AND MEDICAL SCIENCE PURPOSE: SUPPORTING THE MICHAEL E. DEBAKEY CELL LAB | $175,000 |