Texas Medical Center Venture Fund
- Assets
- $36.8m
- Revenue
- $126.4k
- Investments
- $33.4m
- Employees
- 1
- Location
- Houston, TX
- Founding
- 12/2018
- Data as of
- 12/2023
- EIN
- 82-3136541
Organization Overview
Texas Medical Center Venture Fund is located in Houston, TX. The organization was established in 2018. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., 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. Texas Medical Center Venture Fund 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, Texas Medical Center Venture Fund generated $126.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.9% each year . All expenses for the organization totaled $371.9k during the year ending 12/2023. While expenses have increased by 23.4% per year over the past 6 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
PROVIDE SUPPORT TO THE TEXAS MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Mckeon President | OfficerTrustee | 1 | $0 |
Denise Castillo-Rhodes Treasurer | OfficerTrustee | 1 | $0 |
John Reale Executive In Residence | 40 | $234,836 | |
Greg Moore Vice Chairperson | Trustee | 1 | $0 |
Charles W Hall Secretary | OfficerTrustee | 1 | $0 |
Bernard Harris Jr Chairperson | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $179,396 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$77,570 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $126,414 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,474 |
| Payroll taxes | $13,662 |
| Fees for services: Management | $23,100 |
| Fees for services: Legal | $7,276 |
| Fees for services: Accounting | $12,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,033 |
| Fees for services: Other | $500 |
| Advertising and promotion | $0 |
| Office expenses | $67 |
| Information technology | $195 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,171 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,178 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $371,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,797 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,322,343 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $49,641 |
| Investments—other securities | $33,425,249 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,830,030 |
| Accounts payable and accrued expenses | $11,346 |
| 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 | $19,200,485 |
| Total liabilities | $19,211,831 |
| Net assets without donor restrictions | $17,618,199 |
| 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 | $36,830,030 |