Memorial Health System Foundation
- Assets
- $3.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Colorado Springs, CO
- Founding
- 03/2001
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Memorial Health System Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $983.2k during the year ending 06/2022. 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
2022
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
VARIOUS PATIENT CARE AND STAFF EDUCATION FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine O'brien Board Chair | OfficerTrustee | 1 | $0 |
Ann Simpson Board Vice Chair | OfficerTrustee | 1 | $0 |
David Brockway Treasurer | OfficerTrustee | 1 | $0 |
Deb Mahan Secretary | OfficerTrustee | 1 | $0 |
Pat Cone Individual Trustee | Trustee | 1 | $0 |
Andrea Hurlbert Individual Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $274,127 |
| Related organizations | $534,365 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $582,686 |
| Noncash contributions included in lines 1a–1f | $60,398 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,391,178 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,912 |
| Net Income from Fundraising Events | -$7,098 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,445,994 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $324,169 |
| Grants and other assistance to domestic individuals. | $92,975 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $178,192 |
| Compensation of current officers, directors, key employees. | $53,458 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $222,398 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,764 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,193 |
| Fees for services: Other | $20,024 |
| Advertising and promotion | $4,673 |
| Office expenses | $14,581 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,967 |
| Travel | $257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,997 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7 |
| Insurance | $1,708 |
| All other expenses | $0 |
| Total functional expenses | $983,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $273,020 |
| Savings and temporary cash investments | $784,431 |
| Pledges and grants receivable | $305,541 |
| 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 | $43,362 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,251,460 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,657,814 |
| Accounts payable and accrued expenses | $58,782 |
| 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 | $58,782 |
| Net assets without donor restrictions | $1,037,476 |
| Net assets with donor restrictions | $2,561,556 |
| 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 | $3,657,814 |
Grants Awarded
Over the last fiscal year, Memorial Health System Foundation has awarded $324,169 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UCH - MHS PURPOSE: PT ASSISTANCE | $245,002 |
SPRINGS RECOVERY CONNECTION PURPOSE: ED PT RECOVERY PROGRAM | $50,000 |
UNIVERSITY OF COLORADO PURPOSE: NURSING SCHOLARSHIPS | $29,167 |