Texas Medical Center Venture Fund
- Assets
- $28.8m
- Revenue
- $1.2m
- Investments
- $26.8m
- Employees
- 1
- Location
- Houston, TX
- Founding
- 12/2018
- Data as of
- 12/2021
- 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 12/2021, Texas Medical Center Venture Fund generated $1.2m in total revenue. All expenses for the organization totaled $684.1k during the year ending 12/2021. While expenses have increased by 59.7% per year over the past 4 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Reale Director, Executive In Res. | Trustee | 40 | $275,164 |
William Mckeon President | OfficerTrustee | 1 | $0 |
Denise Castillo-Rhodes Treasurer | OfficerTrustee | 1 | $0 |
Charles W Hall Secretary | OfficerTrustee | 1 | $0 |
Tatianna Yale Director, Chief Inv. & Plan. | Trustee | 1 | $0 |
J Downey Bridgwater Director | 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 | $40,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,127,840 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,210,068 |
| 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. | $283,077 |
| 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 | $16,048 |
| Payroll taxes | $13,715 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,286 |
| Fees for services: Accounting | $10,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $312,532 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3 |
| 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 | $684,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,368 |
| 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 | $1,963,201 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,829,753 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,801,322 |
| Accounts payable and accrued expenses | $12,476 |
| Grants payable | $0 |
| Deferred revenue | $41,667 |
| 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 | $12,429,382 |
| Total liabilities | $12,483,525 |
| Net assets without donor restrictions | $16,317,797 |
| 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 | $28,801,322 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Texas Medical Center Venture Fund has recieved totaling $104,875.
| Awarding Organization | Amount |
|---|---|
Texas Medical Center Houston, TX PURPOSE: GENERAL SUPPORT OF ONGOING PROGRAMS | $104,875 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shannon Medical Management San Angelo, TX | $1,382,032 | $79,162,048 |
Tarrant Safety Net Support Corporation Arlington, TX | $4,348,601 | $75,814,900 |
C2c Innovative Solutions Inc Austin, TX | $42,788,543 | $38,806,145 |
Arkansas Childrens Inc Little Rock, AR | $6,770,190 | $23,662,010 |
Physician Associates Of Southwest Dallas Dallas, TX | $2,716,484 | $11,709,219 |
Methodist Patient Centered Aco Dallas, TX | $1,181,995 | $6,532,302 |
Cook Childrens Health Enterprises Fort Worth, TX | $6,566,964 | $6,620,654 |
Dallas Development Fund Dallas, TX | $6,293,260 | $6,735,720 |
St Lukes Sugar Land Properties Corporation Houston, TX | $99,661,908 | $127,637 |
Oneshare International Irving, TX | $7,405,964 | $7,020,317 |
Community Outreach And Patient Empowerment Inc Gallup, NM | $3,855,730 | $4,650,355 |
Crescentcare Holdings Inc New Orleans, LA | $17,127,658 | $277,342 |