Methodist Richardson Medical Center Foundation
- Assets
- $4.0m
- Revenue
- $311.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Richardson, TX
- Founding
- 06/1982
- Data as of
- 09/2023
- 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 09/2023, Methodist Richardson Medical Center Foundation generated $311.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $96.6k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (30.0%) per year over the past 8 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
2023
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
2022 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 2022 NET PROCEEDS WERE DESIGNATED TO SUPPORT OPERATIONS OF THE METHODIST HEALTH SYSTEM AND A PORTION WAS DESIGNATED SPECIFICALLY FOR METHODIST HEALTH SYSTEM CANCER PROGRAM.
2023 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 2023 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 Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair Of Fund Development (beginning Jan 2023) | OfficerTrustee | 1 | $0 |
Name Not Listed Chair (through Dec 2022) | OfficerTrustee | 1 | $0 |
Name Not Listed Chair (beginning Jan 2023) | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair Of Governance (beginning Jan 2023) | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chair Of Finance (beginning Jan 2023) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $286,730 |
| Related organizations | $5,000 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,669 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $374,399 |
| Total Program Service Revenue | $0 |
| Investment income | $19,381 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,761 |
| Net Income from Fundraising Events | -$89,221 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $311,320 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $68,667 |
| Grants and other assistance to domestic individuals. | $24,693 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,271 |
| 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 | $0 |
| Total functional expenses | $96,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,681,156 |
| Savings and temporary cash investments | $1,757,876 |
| Pledges and grants receivable | $35,832 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $535,832 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,010,696 |
| 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 | $1,183,710 |
| Net assets with donor restrictions | $2,804,424 |
| 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 | $4,010,696 |
Grants Awarded
Over the last fiscal year, Methodist Richardson Medical Center Foundation has awarded $160,049 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
METHODIST HOSPITALS OF DALLAS PURPOSE: PROGRAM ASSISTANCE | $46,088 |
MEDHEALTH PURPOSE: Program assistance | $45,294 |
MEDHEALTH PURPOSE: Program assistance | $57,443 |
METHODIST HOSPITALS OF DALLAS PURPOSE: PROGRAM ASSISTANCE | $11,224 |