The Memorial Foundation
- Assets
- $19.3m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Yakima, WA
- Founding
- 09/1978
- Data as of
- 12/2021
- EIN
- 91-1022358
Organization Overview
The Memorial Foundation is located in Yakima, WA. The organization was established in 1978. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Memorial 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 12/2021, Memorial Foundation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 6.7% per year over the past 7 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
ADVANCE AND TRANSFORM HEALTHCARE IN YAKIMA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILDREN'S VILLAGE - SUPPORTING SERVICES FOR CHILDREN WITH SPECIAL HEALTHCARE NEEDS.
SUPPORT NUMEROUS HEALTHCARE/HEALTHCARE RELATED PROGRAMS.
HOSPICE HOME HEALTH CARE - SUPPORTING HOSPICE/HOME HEALTH SERVICES INCLUDING END OF LIFE SERVICES TO PATIENTS AT HOME AND IN AN IN-PATIENT SETTING (INCLUDING PALLIATIVE CARE/TRANSITIONS).
NORTH STAR LODGE - SUPPORTING A FULL-SERVICE OUTPATIENT CANCER TREATMENT FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Black CEO | Officer | 40 | $186,198 |
Robert G Price Board Chairman | OfficerTrustee | 2 | $0 |
Doug Ellison Vice Chairman | OfficerTrustee | 2 | $0 |
B Jean Pryor Secretary/treasurer | OfficerTrustee | 2 | $0 |
Bruce Heiser Immediate Past Chairman | OfficerTrustee | 1 | $0 |
Bill Dolsen Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $121,038 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,389,830 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,510,868 |
| Total Program Service Revenue | $0 |
| Investment income | $542,289 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,000 |
| Net Gain/Loss on Asset Sales | $596,752 |
| Net Income from Fundraising Events | $122,774 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,774,683 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,391,950 |
| 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. | $214,315 |
| Compensation of current officers, directors, key employees. | $214,315 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $359,137 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,348 |
| Fees for services: Accounting | $34,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,690 |
| Fees for services: Other | $105,781 |
| Advertising and promotion | $0 |
| Office expenses | $30,948 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $22,476 |
| Travel | $10,473 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,979 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,435 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,354,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,998,594 |
| Pledges and grants receivable | $740,270 |
| 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 | $0 |
| Net Land, buildings, and equipment | $675,612 |
| Investments—publicly traded securities | $10,877,212 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,291,688 |
| Accounts payable and accrued expenses | $8,869 |
| Grants payable | $0 |
| Deferred revenue | $50,000 |
| 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 | $526,706 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $846,142 |
| Total liabilities | $1,431,717 |
| Net assets without donor restrictions | $5,775,786 |
| Net assets with donor restrictions | $12,084,185 |
| 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 | $19,291,688 |
Grants Awarded
Over the last fiscal year, The Memorial Foundation has awarded $2,391,950 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Yakima, WA PURPOSE: TO PROVIDE SUPPORT TO THE VIRGINA MASON MEMORIAL IN THEIR PURSUIT OF HEALTH IMPROVEMENT, EDUCATION, AND IMPROVING OUR COMMUNITY. | $2,361,950 |
Yakima, WA PURPOSE: TO PROVIDE SUPPORT TO THE YAKIMA VALLEY TECHNICAL SKILLS CENTER | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that The Memorial Foundation has recieved totaling $1,133,688.
| Awarding Organization | Amount |
|---|---|
Yakima Valley Memorial Hospital Association Yakima, WA PURPOSE: GENERAL SUPPORT | $656,324 |
Yakima Valley Community Foundation Yakima, WA PURPOSE: FBO COTTAGE IN THE MEADOW EXPANSION; 2021 STRATEGIC GRANT AWARD FBO CHILDREN'S VILLAGE; GENERAL SUPPORT-TO BE USED FOR COTTAGE IN THE MEADOW; GENERAL SUPPORT-TO BE USED FOR NORTHSTAR LODGE CANCER TREATMENT FACILITY IN YAKIMA, WA; GENERAL SUPPORT-TO BE USED FOR CHILDREN'S VILLAGE; COVID-19 CHILDREN'S VILLAGE; FAMILY BIRTHPLACE; CHAMP; ANNUAL RECURRING GRANT FOR CHAMPS CAMPAIGN | $240,400 |
Group Health Foumdaiton Seattle, WA PURPOSE: CORE SUPPORT FOR CHILDREN'S VILLAGE | $110,259 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $40,000 |
Royal Arch Masons Childrens Heart Foundation Inc Marysville, WA PURPOSE: ASSISTANCE FOR CHILDREN NEEDING HEART SURGERY | $36,250 |
Hyatt Foundation Yakima, WA PURPOSE: GENERAL SUPPORT | $23,700 |
Endowment Analysis
| Beg. Balance | $707,255 |
| Earnings | $41,313 |
| Admin Expense | $1,813 |
| Ending Balance | $746,755 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hilltop Regional Health Center Tacoma, WA | $0 | $26,653,011 |
Covenant Physician Partners Inc Renton, WA | $20,551,600 | $16,901,042 |
Eba-Pge-Ibew Local Union 125 Health & Welfare Trust Tukwila, WA | $8,917,739 | $18,022,514 |
Providence St Vincent Medical Foundation Portland, OR | $302,625,014 | $42,114,354 |
Overlake Hospital Foundation Bellevue, WA | $26,396,715 | $13,671,276 |
Providence Portland Medical Foundation Portland, OR | $219,001,384 | $22,077,699 |
Alaska Carpenters Health & Welfare Trust Fund Seattle, WA | $29,936,146 | $14,215,183 |
Seattle Childrens Hospital Guild Association Seattle, WA | $199,221 | $14,058,030 |
Montana Retail Employees Health And Welfare Trust Spokane, WA | $13,835,872 | $12,488,989 |
I B E W Health-Welfare Trust Of Southwest Washington Labor Center Spokane, WA | $27,788,424 | $13,148,275 |
Graduate Teaching Fellows Fed Local 3544 Health & Welfare Agreement Eugene, OR | $956,358 | $10,612,842 |
Idaho Plumbers & Pipefitters Health & Welfare Agmt & Declaration Of Tr Portland, OR | $25,943,906 | $10,731,049 |