Parma Hospital Health Care Foundation
- Assets
- $11.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Parma, OH
- Founding
- 11/1989
- Data as of
- 12/2021
- EIN
- 34-1626664
Organization Overview
Parma Hospital Health Care Foundation is located in Parma, OH. The organization was established in 1989. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Parma Hospital Health Care 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, Parma Hospital Health Care Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $549.9k 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT AND ASSIST THE MISSION OF UNIVERSITY HOSPITALS PARMA MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GRANTS ASSISTANCE TO UNIVERSITY HOSPITALS PARMA MEDICAL CENTER TO FURTHER ENHANCE THE MEDICAL CENTER'S MISSION AND COMMUNITY BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emrhein William Director/chairperson | OfficerTrustee | 2 | $0 |
Dinklocker Christina Ed D Director/secretary/vice Chairperson | OfficerTrustee | 2 | $0 |
Filippelli Aldo Director/treasurer | OfficerTrustee | 2 | $0 |
Axelrod Barry Director (begin 05/21) | Trustee | 2 | $0 |
Depiero Dean ESQ Director | Trustee | 2 | $0 |
Lovasy Eugene Director (end 05/21) | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $783,616 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $183,674 |
| Noncash contributions included in lines 1a–1f | $2,469 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $967,290 |
| Total Program Service Revenue | $0 |
| Investment income | $332,930 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $583,373 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,883,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $447,775 |
| 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 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 | $0 |
| Fees for services: Other | $101,567 |
| 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 | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $341 |
| Total functional expenses | $549,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,161,109 |
| Accounts receivable, net | $380,360 |
| 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 | $0 |
| Investments—publicly traded securities | $9,558,162 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,099,631 |
| Accounts payable and accrued expenses | $40,651 |
| Grants payable | $1,600,000 |
| 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 | $1,640,651 |
| Net assets without donor restrictions | $4,460,392 |
| Net assets with donor restrictions | $4,998,588 |
| 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 | $11,099,631 |
Grants Awarded
Over the last fiscal year, Parma Hospital Health Care Foundation has awarded $1,049,125 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Shaker Heights, OH PURPOSE: SUPPORT HOSPICE | $1,017,713 |
PURPOSE: SUPPORT MEDICAL CARE | $24,600 |
WOMANKIND CARE PURPOSE: SPRT PRENATAL CARE | $6,812 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Parma Hospital Health Care Foundation has recieved totaling $873,616.
| Awarding Organization | Amount |
|---|---|
University Hospitals Health System Inc Shaker Heights, OH PURPOSE: GENERAL SUPPORT | $783,616 |
Walter W And Thelma M Born Foundation Columbus, OH PURPOSE: EQUIPMENT PURCHASES | $90,000 |
Endowment Analysis
| Beg. Balance | $4,304,779 |
| Earnings | $461,613 |
| Net Contributions | $628,786 |
| Other Expense | $396,590 |
| Ending Balance | $4,998,588 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Upmc Lititz Harrisburg, PA | $81,864,299 | $83,139,500 |
Jeanes Hospital Philadelphia, PA | $0 | $90,864,313 |
Lehigh Valley Hospital - Coordinated Health Allentown Allentown, PA | $172,900,540 | $112,544,100 |
Bay Park Community Hospital Toledo, OH | $58,778,879 | $103,810,079 |
Joint Township District Memorial Hospital St Marys, OH | $81,862,337 | $95,172,211 |
Blue Mountain Hospital Allentown, PA | $0 | $78,395,652 |
St Agnes Continuing Care Center Newtown Square, PA | $67,369,995 | $92,613,131 |
Cameron Memorial Community Hospital Inc Angola, IN | $108,637,429 | $91,161,239 |
Primary Health Network Sharon, PA | $64,443,221 | $87,200,080 |
Whitley Memorial Hospital Inc Columbia City, IN | $159,376,222 | $103,451,903 |
Arh Mary Breckinridge Health Services Inc Lexington, KY | $97,812,617 | $88,178,472 |
Waynesboro Hospital York, PA | $151,400,285 | $80,917,137 |