Sarasota Memorial Healthcare Foundation
- Assets
- $91.3m
- Revenue
- $47.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 04/1978
- Data as of
- 09/2020
- EIN
- 51-0188568
Organization Overview
Sarasota Memorial Healthcare Foundation is located in Sarasota, FL. The organization was established in 1978. 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. Sarasota Memorial Healthcare 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 09/2020, Sarasota Memorial Healthcare Foundation generated $47.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 50.2% each year . All expenses for the organization totaled $8.9m during the year ending 09/2020. While expenses have increased by 12.6% 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.
Since 2015, Sarasota Memorial Healthcare Foundation has awarded 40 individual grants totaling $42,269,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SARASOTA MEMORIAL HEALTHCARE FOUNDATION, INC. IS AN INDEPENDENT CHARITABLE ORGANIZATION WORKING TOGETHER WITH SARASOTA MEMORIAL HEALTH CARE SYSTEM AND OTHERS TO ENSURE WORLD CLASS HEALTHCARE THROUGHOUT OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL AND OTHER NOT-FOR-PROFIT HEALTHCARE ORGANIZATIONS IN SARASOTA COUNTY FOR RESEARCH, PATIENT CARE AND OTHER NEEDS WITH PROGRAMS THAT WILL IMPROVE EFFICIENCY, EFFECTIVENESS, PATIENT SAFETY, AVAILABILITY AND ADVOCACY OF HEALTH CARE IN AN ENVIRONMENT OF WELL BEING FOR OVER 1M INPATIENT AND OUTPATIENT/PHYSICIAN VISITS PER YEAR. THE ONLY HOSPITAL IN FLORIDA TO RECEIVE THE HIGHEST 5-STAR QUALITY RATING FROM THE CENTERS FOR MEDICARE AND MEDICAID IN ALL REPORTING PERIODS SINCE THE PROGRAM BEGAN IN 2016.
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR FACILITIES AND EQUIPMENT THAT WILL PROVIDE THE MOST ADVANCED, STATE OF THE ART TREATMENTS AND HIGHEST QUALITY OF CARE AND COMFORT FOR OVER 44,278 ADMISSIONS, PLUS 4,035 BIRTHS ANNUALLY. NAMED ONE OF THE WORLD'S BEST HOSPITALS 2019-2022 BY NEWSWEEK MAGAZINE. NAMED AMONG THE NATION'S 100 TOP HOSPITALS, 40 TOP TEACHING HOSPITALS AND 50 TOP CARDIOVASCULAR HOSPITALS FOR 2022 BY FORTUNE/MERITIVE. RANKED AMONG 50 BEST HOSPITALS FOR SPECIALIZED REHABILITATION CARE AND A TOP PERFORMER IN 15 CONDITIONS/PROCEDURES BY U.S. NEWS 2021/2022.
GRANTS TO SARASOTA COUNTY PUBLIC HOSPITAL BOARD, SARASOTA MEMORIAL HOSPITAL FOR PROFESSIONAL AND COMMUNITY EDUCATION PROGRAMS REPRESENTING CONTINUING MEDICAL AND PROFESSIONAL EDUCATION, PROFESSIONAL CERTIFICATION AND ONGOING EDUCATIONAL PROGRAMS FOR OVER 1,700 PHYSICIANS AND ADVANCED PRACTICE PROVIDERS, 2,700+ NURSES, THERAPISTS AND OTHER EMPLOYEES AS WELL AS PATIENTS, THEIR FAMILIES AND THE PUBLIC. SARASOTA MEMORIAL HOSPITAL IS ONE OF JUST 1% OF U.S. HOSPITALS TO EARN MAGNET NURSING RECOGNITION-THE HIGHEST HONOR FOR NURSING EXCELLENCE-FOUR TIMES.
EDUCATIONAL PUBLICATION AND SYMPOSIA FOR THE DISSEMINATION OF HEALTH CARE NEWS AND INFORMATION TO MEDICAL PROFESSIONALS AND THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Mason Ayres President | Officer | 50 | $292,075 |
Bobby Pettit VP Finance & Operations | Officer | 50 | $187,357 |
Craig A Moran Dir. Of Development | 50 | $158,073 | |
Sally A Schule Director Of Community Engagement | 50 | $146,759 | |
Patrick J Mcquillan Dir. Of Development | 50 | $140,647 | |
Michelle Butler Dir. Of Development | 50 | $136,119 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Ritz-carlton Events & Accomodations | 9/29/20 | $226,764 |
Campbell & Co Consulting | 9/29/20 | $138,721 |
Campbell & Co Consulting | 9/29/20 | $138,721 |
The Ritz-carlton Events & Accomodations | 9/29/20 | $226,764 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,908,480 |
| Investment income | $708,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,741,212 |
| Net Income from Fundraising Events | -$10,857 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,413,384 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $140,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $674,883 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,052,797 |
| Pension plan accruals and contributions | $44,568 |
| Other employee benefits | $63,455 |
| Payroll taxes | $122,783 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $49,152 |
| Fees for services: Accounting | $26,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $142,351 |
| Fees for services: Investment Management | $16,211 |
| Fees for services: Other | $0 |
| Advertising and promotion | $170,011 |
| Office expenses | $83,769 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,800 |
| Travel | $2,108 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,589 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,063 |
| Insurance | $16,607 |
| All other expenses | $0 |
| Total functional expenses | $8,928,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175 |
| Savings and temporary cash investments | $7,420,080 |
| Pledges and grants receivable | $30,840,511 |
| Accounts receivable, net | $54 |
| 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 | $236,605 |
| Investments—publicly traded securities | $45,200,763 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,462,202 |
| Total assets | $91,301,745 |
| Accounts payable and accrued expenses | $286,678 |
| Grants payable | $9,422,219 |
| Deferred revenue | $374,544 |
| 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 | $124,997 |
| Total liabilities | $10,208,438 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $81,093,307 |
Grants Awarded
Over the last fiscal year, Sarasota Memorial Healthcare Foundation has awarded $8,797,680 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SARASOTA COUNTY PUBLIC HOSPITAL BOARD SARASOTA MEMORIAL HEALTHCARE SYSTEMS PURPOSE: EDUCATION, FACILITIES AND EQUIPMENT, RESEARCH, PATIENT CARE AND OTHER | $8,732,680 |
Sarasota, FL PURPOSE: BEHAVIORAL HEALTH RESPONSE TEAM | $50,000 |
Bradenton, FL PURPOSE: PATIENT SUPPORT FOR THE NEEDY | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sarasota Memorial Healthcare Foundation has recieved totaling $28,500.
| Awarding Organization | Amount |
|---|---|
Linnie E Dalbeck Memorial Foundation Sarasota, FL PURPOSE: THE MENTAL HEALTH PAVILLION | $25,000 |
Robert E Dods Family Foundation Longboat Key, FL PURPOSE: GENERAL OPERATIONS | $2,500 |
John G & Anna Maria Troiano Foundation Inc Longboat Key, FL PURPOSE: UNRESTRICTED CONTRIBUTION | $1,000 |
Endowment Analysis
| Beg. Balance | $11,967,285 |
| Earnings | $2,056,754 |
| Net Contributions | $183,846 |
| Other Expense | $968,541 |
| Ending Balance | $13,239,344 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Madison County Hospital Health Systems Inc Madison, FL | $21,232,395 | $16,268,101 |
Wellstar Sylvan Grove Hospital Inc Marietta, GA | $8,619,975 | $16,516,673 |
Bethesda Hospital Foundation Inc Boynton Beach, FL | $0 | $15,727,989 |
Calhoun-Liberty Hospital Association Inc Blountstown, FL | $15,521,432 | $17,868,224 |
Lakeshore Foundation Birmingham, AL | $92,560,470 | $11,018,309 |
Infirmary Health Hospitals Inc Mobile, AL | $7,196,361 | $12,574,005 |
Quantum Foundation Inc West Palm Beach, FL | $185,235,492 | $17,292,125 |
Glynn-Brunswick Memorial Hospital Authority Brunswick, GA | $242,841,000 | $8,949,000 |
Sarasota Memorial Healthcare Foundation Sarasota, FL | $91,301,745 | $47,413,384 |
Winter Park Health Foundation Inc Winter Park, FL | $158,422,694 | $11,419,783 |
Lee Memorial Hospital Inc Fort Myers, FL | $12,274,273 | $9,017,742 |
Hospital Authority Of Clarke County Georgia Athens, GA | $176,767,692 | $7,567,283 |