Medical Foundation Of Central Mississippi Inc
- Assets
- $38.8m
- Revenue
- $72.0m
- Investments
- $0.0
- Employees
- 573
- Location
- Jackson, MS
- Founding
- 01/2004
- Data as of
- 09/2023
- EIN
- 75-3068151
Organization Overview
Medical Foundation Of Central Mississippi Inc is located in Jackson, MS. The organization was established in 2004. According to its NTEE Classification (E20) the organization is classified as: Hospitals, under the broad grouping of Health Care and related organizations. As of 09/2023, Medical Foundation Of Central Mississippi Inc employed 573 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Foundation Of Central Mississippi Inc 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, Medical Foundation Of Central Mississippi Inc generated $72.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $90.4m during the year ending 09/2023. While expenses have increased by 4.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
MEDICAL FOUNDATION OF CENTRAL MISSISSIPPI, INC.'S PURPOSE IS TO PROMOTE HEALTH THROUGH THE OPERATION OF 28 MEDICAL CLINICS AND 6 PHYSICAL THERAPY CLINICS LOCATED THROUGHOUT THE JACKSON, MISSISSIPPI METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL FOUNDATION OF CENTRAL MISSISSIPPI, INC. PROVIDES QUALITY MEDICAL HEALTH CARE REGARDLESS OF RACE, CREED, SEX, NATIONAL ORIGIN, HANDICAP, OR AGE. ALTHOUGH REIMBURSEMENT FOR SERVICES RENDERED IS CRITICAL TO THE OPERATION AND STABILITY OF MEDICAL FOUNDATION OF CENTRAL MISSISSIPPI, INC., IT IS RECOGNIZED THAT NOT ALL INDIVIDUALS POSSESS THE ABILITY TO PURCHASE ESSENTIAL MEDICAL SERVICES, AND FURTHER, THAT OUR MISSION IS TO SERVE THE COMMUNITY WITH RESPECT TO PROVIDING HEALTH CARE SERVICES AND HEALTH CARE EDUCATION. THEREFORE, IN KEEPING WITH ITS COMMITMENT TO SERVE ALL MEMBERS OF ITS COMMUNITY, MEDICAL FOUNDATION OF CENTRAL MISSISSIPPI, INC. PROVIDES THE FOLLOWING:- FREE CARE AND/OR SUBSIDIZED CARE WHERE THE NEED AND/OR AN INDIVIDUAL'S INABILITY TO PAY COEXIST,- CARE PROVIDED TO PERSONS COVERED BY GOVERNMENTAL PROGRAMS AT BELOW COST, AND - HEALTH ACTIVITIES AND PROGRAMS TO SUPPORT THE COMMUNITY.MEDICAL FOUNDATION OF CENTRAL MISSISSIPPI, INC. OPERATES 6 OUTPATIENT REHABILITATION CLINICS AND 28 MEDICAL CLINICS, WHICH INCLUDE FAMILY MEDICINE CLINICS, CARDIOLOGY, NEUROLOGY, AND OCCUPATIONAL MEDICINE SPECIALTY CLINICS LOCATED THROUGHOUT THE JACKSON, MISSISSIPPI METROPOLITAN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary C Anderson Director (thru 03/23) | Trustee | 0.23 | $0 |
Mark E Swanson MD Director | Trustee | 0.04 | $0 |
James L Warnock MD Director/physician | Trustee | 39.77 | $654,331 |
Bobbie K Ware Director | Trustee | 0.23 | $0 |
William F Thompson Director/cfo | OfficerTrustee | 8 | $0 |
Justin Rhodes Director | Trustee | 0.23 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Comprehensive Cv Services Llc Physician Services | 9/29/23 | $474,500 |
Locumtenenscom Physician Services | 9/29/23 | $388,241 |
Radiological Group Pa Physician Services | 9/29/23 | $142,796 |
Advanced Vascular & Vein Associates Physician Services | 9/29/23 | $119,710 |
Rachel Williamson Physician Recruiter Services | 9/29/23 | $114,249 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $71,959,369 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $57,458 |
| Net Gain/Loss on Asset Sales | -$108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,016,719 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $808,655 |
| Compensation of current officers, directors, key employees. | $161,731 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,825,968 |
| Pension plan accruals and contributions | $1,634,107 |
| Other employee benefits | $4,784,558 |
| Payroll taxes | $2,444,720 |
| 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 | $4,788,679 |
| Advertising and promotion | $103,164 |
| Office expenses | $1,476,225 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,715,210 |
| Travel | $48,843 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $160,892 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,429,150 |
| Insurance | $608,056 |
| All other expenses | $123,279 |
| Total functional expenses | $90,379,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,776 |
| Savings and temporary cash investments | $2,248,027 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,171,659 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $687,494 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $393,268 |
| Net Land, buildings, and equipment | $13,036,410 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,256,558 |
| Total assets | $38,799,192 |
| Accounts payable and accrued expenses | $11,133,988 |
| 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 | $84,750,538 |
| Total liabilities | $95,884,526 |
| Net assets without donor restrictions | -$57,085,334 |
| Net assets with donor restrictions | $0 |
| 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 | $38,799,192 |