Medical Education Foundation Inc
- Assets
- $7.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- South Bend, IN
- Founding
- 07/1973
- Data as of
- 10/2021
- EIN
- 35-1291588
Organization Overview
Medical Education Foundation Inc is located in South Bend, IN. The organization was established in 1973. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medical Education Foundation Inc 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 10/2021, Medical Education Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 44.8% each year . All expenses for the organization totaled $80.8k during the year ending 10/2021. While expenses have increased by 3.3% per year over the past 6 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
PROMOTE AND DISSEMINATE MEDICAL EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND STIPENDS TO STUDENTS ENROLLED IN MEDICAL SCHOOL.
MONIES GRANTED TO UNIVERSITIES FOR PROGRAMS AND RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Murphy III Director | Trustee | 0 | $0 |
Mark Fox Director | Trustee | 0 | $0 |
Kreg Gruber Director | Trustee | 0 | $0 |
Andrea Short Secretary And Treasurer | Trustee | 2 | $0 |
Richard Carlton Chairman | Trustee | 0 | $0 |
Samuel Milligan Director | Trustee | 0 | $0 |
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 | $40,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,900 |
| Total Program Service Revenue | $0 |
| Investment income | $100,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$24,592 |
| Net Gain/Loss on Asset Sales | $541,308 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,860 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,401,183 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,363 |
| 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 | $18,000 |
| Fees for services: Accounting | $7,920 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,442 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $92 |
| 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 | $4,228 |
| All other expenses | $0 |
| Total functional expenses | $80,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,286 |
| 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 | $133,558 |
| Prepaid expenses and deferred charges | $4,028 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,125,668 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,229 |
| Total assets | $7,493,769 |
| Accounts payable and accrued expenses | $23,772 |
| 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 | $23,772 |
| Net assets without donor restrictions | $7,242,119 |
| Net assets with donor restrictions | $227,878 |
| 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 | $7,493,769 |
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|---|---|---|
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Blanche Ebert Seaver Trust For Frank R Seaver College Chicago, IL | $130,613,951 | $5,090,055 |
William Rainey Harper College Educational Foundation Palatine, IL | $50,154,930 | $4,699,112 |
Clven National House Corporation Carmel, IN | $3,795,815 | $8,533,157 |
College Heights Foundation Inc Bowling Green, KY | $121,076,020 | $12,280,275 |
Northern Kentucky University Foundation Inc Highland Heights, KY | $152,385,239 | $8,696,843 |
Rochelle Zell Jewish High School Deerfield, IL | $17,970,776 | $8,473,073 |
Western Kentucky University Foundation Bowling Green, KY | $138,269,164 | $12,431,849 |
Charles & Ellora Alliss Educational Foundation Milwaukee, WI | $87,576,345 | $9,781,011 |
University Of Central Missouri Foundation Warrensburg, MO | $77,602,876 | $17,903,644 |
Newman Foundation At The University Of Illinois Champaign, IL | $49,665,230 | $9,311,134 |
Indiana State University Foundation Inc Terre Haute, IN | $120,588,616 | $29,901,749 |