Methodist Richardson Medical Center Foundation
- Assets
- $3.2m
- Revenue
- $424.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Richardson, TX
- Founding
- 06/1982
- Data as of
- 05/2022
- EIN
- 75-1788520
Organization Overview
Methodist Richardson Medical Center Foundation is located in Richardson, TX. The organization was established in 1982. 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. Methodist Richardson Medical Center 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 05/2022, Methodist Richardson Medical Center Foundation generated $424.6k 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 (3.8%) each year. All expenses for the organization totaled $276.3k during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (22.7%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD AND MAINTAIN DONOR RELATIONSHIPS IN ORDER TO RAISE, MANAGE, AND DISTRIBUTE FUNDS TO METHODIST HEALTH SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021 YELLOW AND BLACK TIE GALA - THE FOUNDATION HOSTS AN ANNUAL AUCTION AND DINNER, THE PROCEEDS OF WHICH SUPPORT PROGRAMS AT METHODIST HEALTH SYSTEM. MOST OF THE 2021 NET PROCEEDS WERE DESIGNATED TO SUPPORT OPERATIONS OF THE METHODIST HEALTH SYSTEM AND A PORTION WAS DESIGNATED SPECIFICALLY FOR METHODIST HEALTH SYSTEM CANCER PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $259,049 |
| Related organizations | $12,000 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $258,199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $539,248 |
| Total Program Service Revenue | $0 |
| Investment income | $10,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,695 |
| Net Income from Fundraising Events | -$146,381 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $424,629 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $203,061 |
| Grants and other assistance to domestic individuals. | $63,048 |
| 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 | $0 |
| Fees for services: Other | $93 |
| Advertising and promotion | $0 |
| Office expenses | $9,215 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $207 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $276,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,051,783 |
| Savings and temporary cash investments | $539,806 |
| Pledges and grants receivable | $10,332 |
| 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 | $28,022 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $533,435 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,163,378 |
| Accounts payable and accrued expenses | $22,562 |
| 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 | $22,562 |
| Net assets without donor restrictions | $1,242,361 |
| Net assets with donor restrictions | $1,898,455 |
| 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 | $3,163,378 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Methodist Richardson Medical Center Foundation has recieved totaling $70,000.
| Awarding Organization | Amount |
|---|---|
Texas Womens Foundation Dallas, TX PURPOSE: PROGRAM: TO EXPAND ABHOP PROGRAM | $25,000 |
Covance Charitable Foundation Burlington, NC PURPOSE: GENERAL SUPPORT | $20,000 |
Texas Womens Foundation Dallas, TX PURPOSE: PROGRAM: ASIAN BREAST HEALTH OUTREACH PROJECT | $15,000 |
National Breast Cancer Foundation Inc Frisco, TX PURPOSE: SCREENING & DIAGNOSTICS | $10,000 |
Endowment Analysis
| Beg. Balance | $537,345 |
| Earnings | -$1,221 |
| Other Expense | $2,689 |
| Ending Balance | $533,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Essential Healthcare Partnerships Foundation Austin, TX | $3,184,613 | $86,533,051 |
Baptist Health Services Little Rock, AR | $51,469,112 | $76,869,884 |
Sealy & Smith Foundation Galveston, TX | $1,823,742,664 | $193,760,950 |
Mountaire Employees Medical Benefit Trust Little Rock, AR | $4,300,671 | $51,578,567 |
Transport Workers Mta Health And Welfare Tr Houston, TX | $10,025,707 | $53,517,376 |
Harris County Hospital District Foundation Bellaire, TX | $42,615,141 | $23,031,096 |
W I Cook Foundation Inc Fort Worth, TX | $3,246,012,284 | $259,660,047 |
Childrens Medical Center Foundation Dallas, TX | $1,970,405,088 | $64,214,565 |
Gshs Administrative Services Organization Inc Longview, TX | $3,821,992 | $32,386,518 |
Memorial Hermann Foundation Houston, TX | $128,175,720 | $33,729,240 |
St Joseph Services Corporation Bryan, TX | $46,581,742 | $27,740,881 |
Georges Inc Medical Tr Springdale, AR | $1,768,217 | $27,212,707 |