Southwestern Medical Foundation
- Assets
- $1.2b
- Revenue
- $72.8m
- Investments
- $743.0m
- Employees
- 21
- Location
- Dallas, TX
- Founding
- 05/1940
- Data as of
- 12/2023
- EIN
- 75-0945939
Organization Overview
Southwestern Medical Foundation is located in Dallas, TX. The organization was established in 1940. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2023, Southwestern Medical Foundation employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwestern 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 12/2023, Southwestern Medical Foundation generated $72.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $51.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Southwestern Medical Foundation has awarded 679 individual grants totaling $503,227,038. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOUTHWESTERN MEDICAL FOUNDATION (THE "FOUNDATION") WAS ORGANIZED IN 1939 AS A TEXAS NON-PROFIT CORPORATION, COMMITTED TO THE DEVELOPMENT AND IMPROVEMENT OF MEDICAL EDUCATION, MEDICAL RESEARCH AND PATIENT CARE IN THE NORTH TEXAS COMMUNITY AND THROUGHOUT THE WORLD. IN 1943, THE FOUNDATION ESTABLISHED SOUTHWESTERN MEDICAL COLLEGE, NOW KNOWN AS UT SOUTHWESTERN MEDICAL CENTER (THE "CENTER"). THE FOUNDATION CONTINUES TO RAISE AND MANAGE PRIVATE PHILANTHROPIC DOLLARS PRIMARILY FOR CONTINUED SUPPORT OF THE CENTER THROUGH GRANTS AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHWESTERN MEDICAL FOUNDATION ("FOUNDATION") WAS ORGANIZED IN 1939 AS A TEXAS NONPROFIT CORPORATION. THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE AS A CHARITABLE ORGANIZATION.PROGRAMS SUPPORTED BY THE FOUNDATION ARE PRIMARILY BENEFITTING UT SOUTHWESTERN MEDICAL CENTER AS A LEADING BIOMEDICAL INSTITUTION IN EDUCATION, RESEARCH AND PATIENT CARE, AND ITS PRINCIPAL AFFILIATED INSTITUTIONS. THE FOUNDATION ALSO PROVIDES SUPPORT TO OTHER EXEMPT CIVIC AND MEDICAL ORGANIZATIONS, AND PROVIDES SCHOLARSHIP AWARDS TO MEDICAL STUDENTS AND OTHER HEALTH CARE PROVIDERS. THE FOUNDATION SPONSORS INFORMATIONAL LECTURES THAT FEATURE EXPERT SPEAKERS IN VARIOUS FIELDS. THE FOUNDATION EARNS NO INCOME FROM THESE LECTURES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jere W Thompson Jr Chairman Of The Board | OfficerTrustee | 0.25 | $0 |
Kathleen Gibson President And CEO - Partial Year | OfficerTrustee | 40 | $696,312 |
Michael Mcmahan President And CEO - Partial Year | OfficerTrustee | 40 | $316,811 |
Cheryl D Alston Trustee | Trustee | 0.25 | $0 |
Charles Anderson Trustee | Trustee | 0.25 | $0 |
Kim J Askew Trustee | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
People Performance Resources Llc Hr Management Services | 12/30/23 | $509,943 |
Fund Evaluation Group Investment Management | 12/30/23 | $393,279 |
Ldww Group Marketing Communications Lp Marketing Services | 12/30/23 | $328,502 |
Hunton Andrews Kurth Llp Legal Services | 12/30/23 | $286,205 |
Northern Trust Company Investment Management | 12/30/23 | $386,660 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $285,450 |
| Related organizations | $4,200,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,356,147 |
| Noncash contributions included in lines 1a–1f | $171,475 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,841,597 |
| Total Program Service Revenue | $0 |
| Investment income | $12,429,971 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,028,852 |
| Net Rental Income | $521 |
| Net Gain/Loss on Asset Sales | $32,754,414 |
| Net Income from Fundraising Events | -$83,306 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,790,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43,682,594 |
| Grants and other assistance to domestic individuals. | $863,955 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $809,372 |
| Compensation of current officers, directors, key employees. | $323,748 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,380,840 |
| Pension plan accruals and contributions | $86,249 |
| Other employee benefits | $130,622 |
| Payroll taxes | $140,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $185,790 |
| Fees for services: Accounting | $141,966 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $851,290 |
| Fees for services: Other | $605,814 |
| Advertising and promotion | $65,659 |
| Office expenses | $61,474 |
| Information technology | $402,244 |
| Royalties | $0 |
| Occupancy | $520,686 |
| Travel | $5,465 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,274 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,799 |
| Insurance | $124,410 |
| All other expenses | $195,845 |
| Total functional expenses | $51,850,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,642,570 |
| Savings and temporary cash investments | $3,033,711 |
| Pledges and grants receivable | $12,884,422 |
| Accounts receivable, net | $0 |
| 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 | $147,850 |
| Net Land, buildings, and equipment | $930,417 |
| Investments—publicly traded securities | $417,028,914 |
| Investments—other securities | $743,019,721 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,275,607 |
| Total assets | $1,199,963,212 |
| Accounts payable and accrued expenses | $10,081,903 |
| Grants payable | $1,033,331 |
| Deferred revenue | $0 |
| 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 | $154,293 |
| Total liabilities | $11,269,527 |
| Net assets without donor restrictions | $61,651,097 |
| Net assets with donor restrictions | $1,127,042,588 |
| 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 | $1,199,963,212 |
Grants Awarded
Over the last fiscal year, Southwestern Medical Foundation has awarded $43,453,261 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
PHILANTHROPY SOUTHWEST PURPOSE: COMMUNITY EVENT | $6,000 |
COLLIN COUNTY HEALTH CARE FOUNDATION PURPOSE: TO SUPPORT THE PROGRAMS OF THE COLLIN COUNTY HEALTH DEPARTMENT | $90,000 |
UNIVERSITY OF NORTH CAROLINA AT GREENSBORO PURPOSE: TO SUPPORT THE BRENDA WELLING RECHTINE SCHOLARSHIP FUND | $26,348 |
YOUNGSTOWN STATE UNIVERSITY FOUNDATION PURPOSE: TO SUPPORT THE THOMAS W. CROGAN III MEMORIAL SCHOLARSHIP IN NURSING FUND | $17,566 |
UT SOUTHWESTERN PURPOSE: TO SUPPORT THE DWIGHT POWELL CHILDREN AND FAMILY SUPPORT PROGRAM | $20,000 |
UT SOUTHWESTERN PURPOSE: TO SUPPORT WOMEN IN SCIENCE AND MEDICINE ADVISORY COMMITTEE | $21,100 |