Foundation Of Firelands
- Assets
- $45.9m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Sandusky, OH
- Founding
- 04/1984
- Data as of
- 12/2021
- EIN
- 34-1401660
Organization Overview
Foundation Of Firelands is located in Sandusky, OH. The organization was established in 1984. 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. Foundation Of Firelands 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, Foundation Of Firelands generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $516.6k during the year ending 12/2021. While expenses have increased by 7.0% 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
THE FOUNDATION FOR FIRELANDS SERVES COMMUNITY HEALTHCARE NEEDS BY PROVIDING FINANCIAL SUPPORT TO FIRELANDS REGIONAL MEDICAL CENTER, A 501(C)(3) HOSPITAL, AND/OR ANY OTHER RELATED NONPROFIT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT FOR MEDICAL EDUCATION, SCHOLARSHIPS, MEDICAL STAFF FEES, INDIGENT CARE, SERVICE TO OUTLYING COMMUNITIES, NURSING EDUCATION AND OTHER OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas M Wolf Chair | Trustee | 2 | $0 |
John O Bacon Director | Trustee | 1 | $0 |
Roger Dundlach Director | Trustee | 1 | $0 |
Daniel Keller Director | Trustee | 1 | $0 |
Charles Rainger Director | Trustee | 1 | $0 |
Steve Lichtcsien Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,685 |
| Investment income | $4,684,067 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $672,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,363,952 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $169,823 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $346,762 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $516,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,753 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $44,280,155 |
| Investments—other securities | $0 |
| Investments—program-related | $1,579,890 |
| Intangible assets | $0 |
| Other assets | $73,110 |
| Total assets | $45,938,908 |
| Accounts payable and accrued expenses | $1,218,450 |
| 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 | $1,218,450 |
| Net assets without donor restrictions | $43,641,052 |
| Net assets with donor restrictions | $1,079,406 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $44,720,458 |