Mclaren Bay Medical Foundation
- Assets
- $16.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Bay City, MI
- Founding
- 01/1978
- Data as of
- 09/2021
- EIN
- 38-2156534
Organization Overview
Mclaren Bay Medical Foundation is located in Bay City, MI. The organization was established in 1978. 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. Mclaren Bay 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 09/2021, Mclaren Bay Medical Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $1.0m during the year ending 09/2021. While expenses have increased by 3.9% 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
TO SECURE FUNDS FOR MCLAREN BAY REGION AND MCLAREN BAY SPECIAL CARE TO SUPPLEMENT OPERATIONS FOR EXPENSE AND CAPITAL EXPENDITURE ITEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCLAREN BAY MEDICAL FOUNDATION RAISES FUNDS AND SUPPORTS MCLAREN BAY HEALTH AND THE COMMUNITIES IT SERVES. THE FOUNDATION CONTINUES TO RAISE FUNDS TOWARDS THE PURCHASE OF EQUIPMENT, PROGRAMS OR SERVICES AND WAS FOCUSED ON MUCH NEEDED PATIENT BEDS THAT MAY BENEFIT PATIENT CARE OR IMPROVE WORK EFFICIENCY IN THE WORK AREA. WE ARE ALSO COMMITTED TO RAISE FUNDS TOWARDS AN UPGRADED AND EXPANDED TELEMETRY SYSTEM, WHICH WILL ENSURE THAT HEART EVENTS ARE CAUGHT QUICKLY AND HELP SAVE LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Phares Secretary | OfficerTrustee | 3 | $0 |
Pamela G Monastiere Vice-Chair | OfficerTrustee | 3 | $0 |
Sarah Dandamudi Chairman | OfficerTrustee | 3 | $0 |
David Quimby Treasurer | OfficerTrustee | 3 | $0 |
Clarence Sevillian CEO (part Year) | OfficerTrustee | 2 | $0 |
Darrell Lentz CEO | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,736 |
| Related organizations | $0 |
| Government grants | $11,111 |
| All other contributions, gifts, grants, and similar amounts not included above | $233,386 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $352,233 |
| Total Program Service Revenue | $0 |
| Investment income | $644,789 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $637,420 |
| Net Income from Fundraising Events | $8,387 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,642,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $625,319 |
| Grants and other assistance to domestic individuals. | $12,500 |
| 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 | $246,539 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $72,109 |
| 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 | $34,158 |
| Advertising and promotion | $12,383 |
| Office expenses | $7,020 |
| 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 | $1,679 |
| Total functional expenses | $1,011,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,885 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,975,013 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,345,898 |
| Accounts payable and accrued expenses | $0 |
| 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 | $29,818 |
| Total liabilities | $29,818 |
| Net assets without donor restrictions | $9,004,923 |
| Net assets with donor restrictions | $7,311,157 |
| 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 | $16,345,898 |
Grants Awarded
Over the last fiscal year, Mclaren Bay Medical Foundation has awarded $683,152 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bay City, MI PURPOSE: GENERAL SUPPORT | $549,075 |
Bay City, MI PURPOSE: HOSPICE RESIDENCE FACILITY SUPPORT | $134,077 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mclaren Bay Medical Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Richard Barton Law Memorial Trust Bay City, MI PURPOSE: GEN'L FUND | $2,000 |
Endowment Analysis
| Beg. Balance | $2,318,240 |
| Ending Balance | $2,318,240 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Health Information Exchange Inc Indianapolis, IN | $7,071,643 | $17,868,575 |
Frank Messer & Sons Construction Co Health Care Trust Agreement Cincinnati, OH | $1,608,604 | $18,730,323 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Ohio Bricklayers Health And Welfare Fund Troy, MI | $39,451,516 | $19,388,993 |
Henry Ford Health System Foundation Detroit, MI | $411,181,841 | $16,717,457 |
Midmichigan Health Foundation Midland, MI | $38,469,192 | $3,599,995 |
Jhsi Inc Cincinnati, OH | $218,143,713 | $11,934,726 |
Akron Childrens Hospital Foundation Akron, OH | $226,447,307 | $32,651,405 |
Bethesda Inc Cincinnati, OH | $187,938,288 | $2,121,549 |
Childrens Hospital Of Michigan Foundation Detroit, MI | $153,035,262 | $18,796,884 |
Reformed Benefits Association Grand Rapids, MI | $9,561,157 | $15,087,077 |
Bronson Properties Corporation Kalamazoo, MI | $80,947,112 | $15,014,502 |