South Bend Medical Foundation Inc
- Assets
- $52.6m
- Revenue
- $21.2m
- Investments
- $0.0
- Employees
- 190
- Location
- South Bend, IN
- Founding
- 09/1949
- Data as of
- 12/2021
- EIN
- 35-0868178
Organization Overview
South Bend Medical Foundation Inc, operating under the name The Medical Foundation, is located in South Bend, IN. The organization was established in 1949. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Medical Foundation employed 190 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical 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, Medical Foundation generated $21.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.9%) each year. All expenses for the organization totaled $26.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SOUTH BEND MEDICAL FOUNDATION EXISTS FOR THE PURPOSE OF PROVIDING QUALITY AND COST EFFECTIVE PATHOLOGY AND BLOOD BANKING SERVICES TO HOSPITALS, PHYSICIANS, AND PATIENTS.
Describe the Organization's Program Activity:
SOUTH BEND MEDICAL FOUNDATION, INC. (THE FOUNDATION), PROVIDES PATHOLOGY SERVICES FOR PATIENTS AND DOCTORS THROUGHOUT NORTHERN AND CENTRAL INDIANA AND SOUTHWESTERN MICHIGAN WITH A CONCENTRATION OF REVENUES FROM HOSPITALS LOCATED IN THE SURROUNDING AREAS. THE FOUNDATION ALSO HAS A BLOOD BANK LINE OF BUSINESS WHERE BLOOD IS DONATED BY VOLUNTEERS AND SUBSEQUENTLY PROCESSED AND SOLD TO LOCAL HOSPITALS IN THE SURROUNDING AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Simpson MD President | OfficerTrustee | 40 | $378,184 |
Ricky Hoover MD Pathologist | 40 | $341,057 | |
Jonathan Konopinski MD Pathologist | 40 | $300,724 | |
Derrick Forchetti MD Pathologist | 40 | $299,055 | |
James Dyer MD Pathologist | 40 | $294,236 | |
Odeta Lapkus MD Pathologist | 40 | $293,635 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Indiana Regional Blood Reference Lab | 12/30/21 | $1,139,245 |
Us Pack Services Llc Transportation Services | 12/30/21 | $476,983 |
Cerner Corporation Equip Maintenance & Repair | 12/30/21 | $732,473 |
Ostrom Janitorial Janitorial Services | 12/30/21 | $343,412 |
Aps Medical Billing Medical Billing Service | 12/30/21 | $403,575 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,543 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,543 |
| Total Program Service Revenue | $18,346,550 |
| Investment income | $234,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $633,320 |
| Net Gain/Loss on Asset Sales | $965,421 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,231,180 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,862 |
| Grants and other assistance to domestic individuals. | $67,223 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $642,022 |
| Compensation of current officers, directors, key employees. | $44,309 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,965,341 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,076,098 |
| Payroll taxes | $703,071 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,546 |
| Fees for services: Accounting | $116,432 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,074,990 |
| Advertising and promotion | $45,355 |
| Office expenses | $580,546 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $893,863 |
| Travel | $140,992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,474 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $786,976 |
| Insurance | $575,110 |
| All other expenses | $529,647 |
| Total functional expenses | $25,971,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $873,906 |
| Savings and temporary cash investments | $2,918,675 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,411,054 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $478,418 |
| Prepaid expenses and deferred charges | $630,506 |
| Net Land, buildings, and equipment | $14,449,807 |
| Investments—publicly traded securities | $30,610,937 |
| Investments—other securities | $0 |
| Investments—program-related | $144,930 |
| Intangible assets | $0 |
| Other assets | $50,583 |
| Total assets | $52,568,816 |
| Accounts payable and accrued expenses | $1,874,504 |
| Grants payable | $0 |
| Deferred revenue | $237,270 |
| 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 | $3,013,013 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $179,783 |
| Total liabilities | $5,304,570 |
| Net assets without donor restrictions | $47,264,246 |
| Net assets with donor restrictions | $0 |
| 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 | $52,568,816 |
Grants Awarded
Over the last fiscal year, South Bend Medical Foundation Inc has awarded $30,300 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Dallas, TX PURPOSE: GENERAL ASSISTANCE | $10,000 |
South Bend, IN PURPOSE: GENERAL ASSISTANCE | $8,700 |
South Bend, IN PURPOSE: GENERAL ASSISTANCE | $6,000 |
Kennesaw, GA PURPOSE: GENERAL ASSISTANCE | $5,600 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that South Bend Medical Foundation Inc has recieved totaling $2,049.
| Awarding Organization | Amount |
|---|---|
Percy Hammond Walsh Fund South Bend, IN PURPOSE: GENERAL SUPPORT | $2,035 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Good Samaritan Hospital Physician Services Inc Vincennes, IN | $3,015,196 | $37,072,637 |
Seton Medical Group Inc St Louis, MO | $14,923,551 | $27,206,078 |
Health Help Incorporated Richmond, KY | $35,757,243 | $45,414,007 |
St Louis Regional Health Commission St Louis, MO | $9,267,214 | $27,779,913 |
Osf Healthcare Foundation Peoria, IL | $347,406,152 | $41,215,805 |
South Bend Medical Foundation Inc South Bend, IN | $52,568,816 | $21,231,180 |
Rx Outreach Inc Maryland Heights, MO | $3,894,109 | $16,595,377 |
Lifeskills Health Services Inc Bowling Green, KY | $5,258,261 | $22,046,211 |
Ascension Wisconsin Laboratories Inc St Louis, MO | $6,280,554 | $20,897,909 |
Matthew 25 Aids Services Inc Henderson, KY | $4,907,069 | $17,337,927 |
Alliancechicago Chicago, IL | $6,331,784 | $6,732,004 |
Loyola Medicine Transport Llc Melrose Park, IL | $7,188,448 | $4,376,712 |