Memorial Health System Foundation
- Assets
- $3.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Colorado Springs, CO
- Founding
- 03/2001
- Data as of
- 06/2021
- EIN
- 84-1576338
Organization Overview
Memorial Health System Foundation is located in Colorado Springs, CO. The organization was established in 2001. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2021, Memorial Health System Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial Health System 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 06/2021, Memorial Health System Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. While expenses have increased by 10.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PHILANTHROPIC RESOURCES TO ASSIST MEMORIAL HEALTH SYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS GENERALIZED FUND OFFSETS EMERGENCY RELATED RELIEF EXPENSES. THIS ENCOMPASSES ANYTHING THAT FALLS IN THAT REALM; MORALE BUILDERS, SUPPLIES, EMPLOYEE PROGRAMS, COMMUNITY FACING PROGRAMS, ETC. FUND WAS ESTABLISHED IN RESPONSE TO COVID-19, BUT IS NOT RESTRICTED TO ONLY COVID-19 RELIEF. AT THE TIME THAT EMERGENCY NEEDS ARE MET, ANY FUNDS REMAINING WILL ROLL-OVER FOR USE IN ANOTHER EMERGENCY SITUATION OR FOR PREPAREDNESS. IN FY21, $924,975 WAS EXPENDED TOWARD COVID 19 ITEMS INCLUDING 6 VENTILATORS FOR $235,490, ISOLATION ROOMS FOR $174,679, ISOLATION CARTS FOR $104,720, LAB INSTRUMENTATION FOR $105,000 AND $305,086 FOR OTHER ITEMS.
THIS FUND WAS ESTABLISHED FOR THE SOLE PURPOSE OF CREATING AN APHERESIS AND PHOTOPHERESIS PROGRAM AT UCHEALTH IN SOUTHERN COLORADO. FUNDS ARE TO BE USED EXCLUSIVELY FOR CONSTRUCTION, STAFF CERTIFICATION, AND APHERESIS OR PHOTOPHERESIS EQUIPMENT. DURING FY21, $500,000 WAS EXPENDED FOR APHERESIS EQUIPMENT AND CONSTRUCTION.
THIS FUND WILL BE USED FOR THE FISCAL YEAR 2019 MEMORIAL HOSPITAL FOUNDATION'S 17TH ANNUAL GALA. DURING FY21, $267,618 RAISED FROM THE GALA WERE EXPENDED TO PURCHASE A MAKO ORTHOPEDIC ROBOT FOR THE GRANDVIEW HOSPITAL.
VARIOUS PATIENT CARE AND STAFF EDUCATION FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Maiurro Executive Director | Officer | 40 | $115,886 |
Bruce Panter Board Chair | OfficerTrustee | 1 | $0 |
Deb Mahan Secretary | OfficerTrustee | 1 | $0 |
David Brockway Treasurer | OfficerTrustee | 1 | $0 |
Ann Simpson Board Vice Chair | OfficerTrustee | 1 | $0 |
Patricia Cone Individual Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $497,490 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,077,443 |
| Noncash contributions included in lines 1a–1f | $7,700 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,574,933 |
| Total Program Service Revenue | $0 |
| Investment income | $53,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,627,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,241,521 |
| Grants and other assistance to domestic individuals. | $176,489 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $172,622 |
| Compensation of current officers, directors, key employees. | $51,787 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $200,220 |
| Pension plan accruals and contributions | $2,028 |
| Other employee benefits | $37,142 |
| Payroll taxes | $2,542 |
| 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 | $24,938 |
| Fees for services: Other | $24,363 |
| Advertising and promotion | $2,240 |
| Office expenses | $12,706 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,182 |
| Travel | $183 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,402 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86 |
| Insurance | $1,729 |
| All other expenses | $0 |
| Total functional expenses | $2,950,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,521 |
| Savings and temporary cash investments | $872,884 |
| Pledges and grants receivable | $51,263 |
| 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 | $10,029 |
| Net Land, buildings, and equipment | $7 |
| Investments—publicly traded securities | $2,629,394 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,678,098 |
| Accounts payable and accrued expenses | $138,735 |
| 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 | $138,735 |
| Net assets without donor restrictions | $1,388,126 |
| Net assets with donor restrictions | $2,151,237 |
| 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 | $3,678,098 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Memorial Health System Foundation has recieved totaling $45,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $42,000 |
Freda Maytag-Grace Crawford Trust 1012001910 Chicago, IL PURPOSE: GENERAL | $3,500 |
Endowment Analysis
| Beg. Balance | $306,441 |
| Earnings | $72,958 |
| Ending Balance | $379,399 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Banner Health Foundation Phoenix, AZ | $138,766,928 | $27,502,678 |
Saint Francis Health System Inc General/Professional Liability Los Tulsa, OK | $35,657,077 | $16,772,953 |
Sun Health Foundation Sun City West, AZ | $41,548,364 | $9,339,372 |
Wyoming Machinery Company Employee Medical Benefit Trust Casper, WY | $617,446 | $14,203,698 |
The Weld Trust Greeley, CO | $536,288,885 | $29,341,984 |
Nebraska Methodist Hospital Foundation Omaha, NE | $173,830,201 | $26,097,640 |
Landoll Corporation Employee Health Care Fund Marysville, KS | $14,816 | $11,572,149 |
Presbyterian Health Foundation Oklahoma City, OK | $0 | $8,670,353 |
Anchorum St Vincent Santa Fe, NM | $156,559,426 | $13,078,758 |
Banner Alzheimers Foundation Phoenix, AZ | $39,991,469 | $5,973,985 |
Bhhs Legacy Foundation Phoenix, AZ | $167,586,858 | $10,408,828 |
Integris Health Foundation Inc Oklahoma City, OK | $92,062,321 | $6,628,637 |