Umc Foundation
- Assets
- $29.7m
- Revenue
- $5.4m
- Investments
- $1.9m
- Employees
- 0
- Location
- Lubbock, TX
- Founding
- 01/1979
- Data as of
- 12/2021
- EIN
- 75-1639312
Organization Overview
Umc Foundation is located in Lubbock, TX. The organization was established in 1979. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Umc 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, Umc Foundation generated $5.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.8m 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 ASSIST IN THE OPERATION OF LUBBOCK COUNTY HOSPITAL DISTRICT DBA UNIVERSITY MEDICAL CENTER
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UMC FOUNDATION WAS FORMED AND IS OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES TO ASSIST IN THE ESTABLISHMENT, OPERATION AND CONTINUATION OF THE UNIVERSITY MEDICAL CENTER HEALTH SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Britt Pharris Executive Di | OfficerTrustee | 0 | $0 |
Jeff Dane Treasurer | OfficerTrustee | 5 | $0 |
Stacey Morris-Potter Chair-Elect | OfficerTrustee | 5 | $0 |
Eric Pittman Chair | OfficerTrustee | 5 | $0 |
Noe Valles Secretary | OfficerTrustee | 5 | $0 |
Kandy Adams Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,995,137 |
| Noncash contributions included in lines 1a–1f | $1,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,995,137 |
| Total Program Service Revenue | $0 |
| Investment income | $365,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,361,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,530,381 |
| Grants and other assistance to domestic individuals. | $86,077 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,448 |
| Fees for services: Other | $5,503 |
| Advertising and promotion | $171,661 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $3,570 |
| Total functional expenses | $1,847,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,886,134 |
| Pledges and grants receivable | $2,314,904 |
| Accounts receivable, net | $39,188 |
| 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 | $60,236 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,243,005 |
| Investments—other securities | $1,890,007 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $287,199 |
| Total assets | $29,720,673 |
| Accounts payable and accrued expenses | $442,886 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $442,886 |
| Net assets without donor restrictions | $5,729,457 |
| Net assets with donor restrictions | $23,548,330 |
| 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 | $29,720,673 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Umc Foundation has recieved totaling $221,329.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $203,102 |
American Cancer Society Inc Kennesaw, GA PURPOSE: Patient Support | $13,000 |
Joe And Nan Johnson Family Foundation Wichita Falls, TX PURPOSE: GENERAL OPERATIONS | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $227 |
Endowment Analysis
| Beg. Balance | $12,911,628 |
| Earnings | $1,760,438 |
| Admin Expense | $50,448 |
| Net Contributions | $35,104 |
| Other Expense | $378,717 |
| Ending Balance | $14,278,005 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Methodist Hospitals Foundation Inc Dallas, TX | $153,905,809 | $19,053,620 |
Saint Francis Health System Inc General/Professional Liability Los Tulsa, OK | $35,657,077 | $16,772,953 |
Heart Of Texas Memorial Hospital Brady, TX | $57,981,362 | $27,695,651 |
Paso Del Norte Health Foundation El Paso, TX | $268,661,526 | $12,325,026 |
Conway Regional Hospital Employees Medical Trust Conway, AR | $4,792,680 | $16,387,089 |
Lsu Health Foundation New Orleans New Orleans, LA | $163,045,964 | $16,219,820 |
Baker & Botts Llp Employees Health Care Trust Agreement Houston, TX | $7,386,009 | $15,322,087 |
Shannon Business Services Inc San Angelo, TX | $6,491,391 | $14,101,592 |
Covenant Health System Foundation Lubbock, TX | $55,699,431 | $11,499,437 |
Texas Childrens Hospital Foundation Houston, TX | $3,566,256,606 | $201,987,304 |
The Menninger Clinic Foundation Houston, TX | $95,150,910 | $23,726,608 |
Presbyterian Health Foundation Oklahoma City, OK | $0 | $8,670,353 |