The Memorial Health Care Foundation
- Assets
- $10.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Owosso, MI
- Founding
- 12/1992
- Data as of
- 12/2021
- EIN
- 38-3036586
Organization Overview
The Memorial Health Care Foundation is located in Owosso, MI. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Memorial 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, Memorial Health Care Foundation generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $705.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 years. 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
THROUGH FUND DEVELOPMENT, WE SERVE OUR COMMUNITY BY ASSISTING MEMORIAL HEALTHCARE ACHIEVE ITS MISSION TO PROMOTE HEALTH AND PROVIDE QUALITY COMPASSIONATE HEALTHCARE IN THE SHIAWASSEE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUND DEVELOPMENT SERVICES PROVIDED TO ASSIST MEMORIAL HEALTHCARE.CAPITAL IMPROVEMENTS AND EQUIPMENT/SUPPLIES: $325,072COMMUNITY EDUCATION AND HOSPICE PROGRAMS: $134,876
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Long Interim Treasurer | OfficerTrustee | 2 | $0 |
Brigitte Gurden Executive Director | OfficerTrustee | 40 | $0 |
Stavroula A Erfourth President | OfficerTrustee | 1 | $0 |
Patrick A Wegman II Vice President | OfficerTrustee | 1 | $0 |
Nick Tereck Secretary | OfficerTrustee | 1 | $0 |
Dr Anthony Patsy Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $94,976 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $681,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $776,626 |
| Total Program Service Revenue | $0 |
| Investment income | $371,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $797 |
| Net Income from Fundraising Events | -$8,212 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,140,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $459,948 |
| 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 | $147,413 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,856 |
| Payroll taxes | $11,531 |
| 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 | $31,501 |
| Fees for services: Other | $1,125 |
| Advertising and promotion | $216 |
| Office expenses | $1,727 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,945 |
| 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 | $0 |
| Total functional expenses | $704,999 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,149 |
| Savings and temporary cash investments | $504,236 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $178,517 |
| 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 | $9,763,734 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3 |
| Total assets | $10,603,639 |
| Accounts payable and accrued expenses | $10,200 |
| Grants payable | $0 |
| Deferred revenue | $22,500 |
| 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 | $32,700 |
| Net assets without donor restrictions | $7,628,742 |
| Net assets with donor restrictions | $2,942,197 |
| 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 | $10,603,639 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Memorial Health Care Foundation has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Ali And Nihaya Foundation Grand Blanc, MI PURPOSE: CHARITABLE | $250 |
Endowment Analysis
| Beg. Balance | $5,665,470 |
| Earnings | $316,175 |
| Other Expense | $105,527 |
| Grants | $226,165 |
| Ending Balance | $5,649,953 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ruth Mott Foundation Flint, MI | $290,091,185 | $30,117,543 |
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |