Texas Medical Association Foundation
- Assets
- $16.6m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 03/1966
- Data as of
- 12/2021
- 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 12/2021, Texas Medical Association Foundation generated $2.2m 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 (4.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Texas Medical Association Foundation has awarded 43 individual grants totaling $1,834,804. 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
2021
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
MINORITY SCHOLARSHIP PROGRAM.
HARD HATS FOR LITTLE HEADS MATCHING BICYCLE HELMET DONATION PROGRAM.
WALK WITH A DOC TEXAS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Stark Walsh Executive Director | Officer | 40 | $128,920 |
Michael E Speer MD President 2021-2022 | OfficerTrustee | 0 | $0 |
Carla F Ortique MD Vice President 2021-2022 | OfficerTrustee | 0 | $0 |
Susan M Pike MD Immediate Past President 2021-2022 | OfficerTrustee | 0 | $0 |
Leslie H Secrest MD Immediate Past President 2020-2021 | OfficerTrustee | 0 | $0 |
Deborah Pitts Secretary 2021-2022 | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $235,356 |
| Related organizations | $197,946 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,051,772 |
| Noncash contributions included in lines 1a–1f | $21,892 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,485,074 |
| Total Program Service Revenue | $0 |
| Investment income | $236,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $491,756 |
| Net Income from Fundraising Events | -$28,482 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,226,990 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $597,048 |
| 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. | $164,893 |
| Compensation of current officers, directors, key employees. | $74,202 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,686 |
| Pension plan accruals and contributions | $15,847 |
| Other employee benefits | $21,323 |
| Payroll taxes | $20,471 |
| Fees for services: Management | $66,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,108 |
| Fees for services: Other | $51,045 |
| Advertising and promotion | $5,612 |
| Office expenses | $24,803 |
| Information technology | $13,542 |
| Royalties | $0 |
| Occupancy | $49,535 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,220,513 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $287,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,841 |
| 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 | $6,839 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $16,273,730 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,598,953 |
| Accounts payable and accrued expenses | $23,619 |
| Grants payable | $215,639 |
| Deferred revenue | $110,235 |
| 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 | $349,493 |
| Net assets without donor restrictions | $3,563,908 |
| Net assets with donor restrictions | $12,685,552 |
| 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 | $16,598,953 |
Grants Awarded
Over the last fiscal year, Texas Medical Association Foundation has awarded $536,887 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
Austin, TX PURPOSE: MINORITY SCHOLARSHIP PROGRAM | $130,449 |
Austin, TX PURPOSE: SCIENCE TEACHER AWARD PROGRAM | $92,253 |
Austin, TX PURPOSE: VACCINES DEFEND WHAT MATTERS PROGRAM | $74,690 |
Houston, TX PURPOSE: NURSING SCHOLARSHIP PROGRAM | $60,000 |
Austin, TX PURPOSE: WALK WITH A DOC PROGRAM | $57,707 |
Austin, TX PURPOSE: BICYCLE HELMET PROGRAM | $31,913 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Texas Medical Association Foundation has recieved totaling $245,446.
| Awarding Organization | Amount |
|---|---|
Texas Medical Association Austin, TX PURPOSE: OPERATING EXPENSE SUPPORT | $195,446 |
John P Mcgovern Foundation Houston, TX PURPOSE: PROGRAM SUPPORT | $35,000 |
Community Foundation Of North Texas Fort Worth, TX PURPOSE: FOR HARD HAT PROGRAM | $10,500 |
Mccallum Family Foundation Wilmington, DE PURPOSE: HARD HATS FOR LITTLE HEADS PROGRAM | $2,000 |
Khushalani Foundation Humble, TX PURPOSE: FUND RAISING AND/OR FUND DISTRIBUTION | $1,500 |
Riggs Family Foundation Dallas, TX PURPOSE: CHARITABLE | $1,000 |
Endowment Analysis
| Beg. Balance | $9,046,584 |
| Earnings | $1,230,333 |
| Net Contributions | $176,042 |
| Other Expense | $4,531 |
| Grants | $144,350 |
| Ending Balance | $10,304,078 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arlington Tomorrow Foundation Arlington, TX | $100,083,582 | $21,077,452 |
Black Tie Dinner Inc Dallas, TX | $245,672 | $1,497,518 |
Texas Medical Association Foundation Austin, TX | $16,598,953 | $2,226,990 |
State Council Charities Austin, TX | $2,067,797 | $1,066,934 |
Better Business Bureau Of Metropolitan Houston Educational F Houston, TX | $1,320,064 | $600,627 |
River Oaks Foundation Inc Houston, TX | $1,077,805 | $586,308 |
Ifma Foundation Houston, TX | $1,376,827 | $594,549 |
Six Bridges Capital Corporation Little Rock, AR | $166,266 | $359,401 |
Rotary Club Of New Braunfels Foundation New Braunfels, TX | $243,912 | $368,541 |
Recognizegood The Foundation Austin, TX | $225,803 | $326,726 |
Del Rio Chamber Foundation Del Rio, TX | $5,103 | $0 |
Arkansas Independent Producers And Royalty Owners Association Inc Little Rock, AR | $370,547 | $208,976 |