Promedica Foundation

Organization Overview

Promedica Foundation is located in Toledo, OH. The organization was established in 1987. 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. Promedica 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, Promedica Foundation generated $33.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $20.8m during the year ending 12/2021. While expenses have increased by 3.9% 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.

Since 2014, Promedica Foundation has awarded 107 individual grants totaling $152,801,852. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PROMEDICA FOUNDATION'S MISSION IS TO GENERATE AND DIRECT THE UTILIZATION OF RESOURCES TO ENRICH EXISTING PROGRAMS AND FUND NEW SERVICES, INSPIRING EXCELLENT IN THE PROVISION OF HEALTH CARE AND ENHANCING QUALITY OF LIFE FOR THE PEOPLE OF OUR COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROMOTE HEALTH AND WELL-BEING WITH SUPPORT FOR MEDICAL CARE, MEDICAL EDUCATION, MEDICAL RESEARCH, AND SOCIAL DETERMINANTS OF HEALTH, AND BY SOLICITING CONTRIBUTIONS, PROVIDING GRANTS, AND INVESTING FUNDS TO GENERATE INCOME TO SUPPORT PROMEDICA HEALTH SYSTEM, INC. ENTITIES.


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Financial Statements

Statement of Revenue
Federated campaigns$15,640
Membership dues$0
Fundraising events$673,840
Related organizations$202,909
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$13,575,301
Noncash contributions included in lines 1a–1f $215,517
Total Revenue from Contributions, Gifts, Grants & Similar$14,467,690
Total Program Service Revenue$0
Investment income $9,713,762
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $9,836,201
Net Income from Fundraising Events -$71,802
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $33,946,131

Grants Awarded

Over the last fiscal year, Promedica Foundation has awarded $13,113,629 in support to 15 organizations.

Grant RecipientAmount

THE TOLEDO HOSPITAL

PURPOSE: OPERATING GRANT

$4,455,815

FIRST TEE OF LAKE ERIE

PURPOSE: OPERATING GRANT

$3,842,561

PROMEDICA HEALTH SYSTEM INC

Org PageRecipient Profile

Toledo, OH

PURPOSE: OPERATING GRANT

$2,189,370

COMMUNITY HEALTH CENTER OF BRANCH COUNTY

Org PageRecipient Profile

Toledo, OH

PURPOSE: OPERATING GRANT

$681,843

Toledo, OH

PURPOSE: OPERATING GRANT

$667,989

EMMA L BIXBY MEDICAL CENTER

Org PageRecipient Profile

Toledo, OH

PURPOSE: OPERATING GRANT

$441,982
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 21 grants that Promedica Foundation has recieved totaling $1,005,014.

Awarding OrganizationAmount
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HEALTH

$189,121
Kadens Family Foundation

Wilmington, DE

PURPOSE: SCOTT HIGH SCHOOL HOPE SCHOLARSHIP FUND - HOPE TOLEDO

$175,000
Kadens Family Foundation

Wilmington, DE

PURPOSE: HOPE TOLEDO

$175,000
Childrens Hospital Of Michigan Foundation

Detroit, MI

PURPOSE: TO SUPPORT CONSTRUCTION AND/OR PROGRAMMING AT A YOUTH LEADERSHIP COMPLEX IN PARTNERSHIP WITH PROMEDICA FOUNDATION, FIRST TEE LAKE ERIE, AND BOYS & GIRLS CLUBS OF GREATER TOLEDO

$100,000
Toledo Community Foundation

Toledo, OH

PURPOSE: 2021 CONTRIBUTION TO FIRST TEE / BOYS AND GIRLS CLUBS, KAITLYN'S COTTAGE, 2021 MISSION PARTNER SPONSORSHIP, LIFE INSURANCE DONATION PAYMENT, GROWING FUTURES TOGETHER, LAMBOGRAMS

$94,916
La-Z-Boy Foundation

Monroe, MI

PURPOSE: HUMAN SERVICES

$50,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$60,983,875
Earnings$5,185,950
Net Contributions$2,000
Other Expense$30,747
Ending Balance$66,141,078

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