Texas Medical Association Foundation
- Assets
- $14.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 03/1966
- Data as of
- 12/2022
- EIN
- 74-6073346
Organization Overview
Texas Medical Association Foundation is located in Austin, TX. The organization was established in 1966. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Medical Association 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 12/2022, Texas Medical Association Foundation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.1%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Texas Medical Association Foundation has awarded 57 individual grants totaling $2,434,527. 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
THE FOUNDATION PROVIDES FOR PUBLIC HEALTH, MEDICAL, AND EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVERSITY AND MEDICINE SCHOLARSHIP.
VACCINE DEFEND WHAT MATTERS.
WALK WITH A DOC TEXAS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael E Speer MD President 2021-2023 | OfficerTrustee | 0 | $0 |
Carla F Ortique MD Vice President 2021-2023 | OfficerTrustee | 0 | $0 |
Susan M Pike MD Immediate Past President 2021-2022 | OfficerTrustee | 0 | $0 |
Deborah Pitts Secretary 2021-2023 | OfficerTrustee | 0 | $0 |
Clifford K Moy MD Treasurer 2021-2023 | OfficerTrustee | 0 | $0 |
Gates B Colbert MD Fasn Young Physician Section Representative 2020-2022 | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $318,995 |
| Related organizations | $217,226 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $466,616 |
| Noncash contributions included in lines 1a–1f | $36,360 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,002,837 |
| Total Program Service Revenue | $0 |
| Investment income | $282,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,300 |
| Net Income from Fundraising Events | -$96,942 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,314,959 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $618,475 |
| 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. | $173,547 |
| Compensation of current officers, directors, key employees. | $52,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,611 |
| Pension plan accruals and contributions | $19,412 |
| Other employee benefits | $28,996 |
| Payroll taxes | $26,138 |
| Fees for services: Management | $80,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,481 |
| Fees for services: Other | $14,794 |
| Advertising and promotion | $7,104 |
| Office expenses | $35,681 |
| Information technology | $20,866 |
| Royalties | $0 |
| Occupancy | $52,055 |
| Travel | $7,770 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $963 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,334,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $373,571 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,150 |
| 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 | $1,421 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,627,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,038,201 |
| Accounts payable and accrued expenses | $25,850 |
| Grants payable | $212,194 |
| Deferred revenue | $108,750 |
| 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 | $0 |
| Total liabilities | $346,794 |
| Net assets without donor restrictions | $3,101,297 |
| Net assets with donor restrictions | $10,590,110 |
| 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 | $14,038,201 |
Grants Awarded
Over the last fiscal year, Texas Medical Association Foundation has awarded $599,723 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
TEXAS MEDICAL ASSOCIATION SPECIAL FUNDS PURPOSE: DIVERSITY AND MEDICINE SCHOLARSHIP | $167,555 |
TEXAS MEDICAL ASSOCIATION PURPOSE: VACCINES DEFEND WHAT MATTERS PROGRAM | $94,064 |
TEXAS MEDICAL ASSOCIATION PURPOSE: WALK WITH A DOC PROGRAM | $62,989 |
TEXAS MEDICAL ASSOCIATION PURPOSE: BICYCLE HELMET PROGRAM | $62,339 |
TEXAS MEDICAL ASSOCIATION PURPOSE: SCIENCE TEACHER AWARD PROGRAM | $33,368 |
HARRIS COUNTY MEDICAL ALLIANCE PURPOSE: NURSING SCHOLARSHIP PROGRAM | $60,000 |