Calverthealth Foundation Inc
- Assets
- $7.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Prince Frederick, MD
- Founding
- 08/1990
- Data as of
- 06/2021
- EIN
- 52-1680647
Organization Overview
Calverthealth Foundation Inc is located in Prince Frederick, MD. The organization was established in 1990. 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. Calverthealth 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 06/2021, Calverthealth Foundation Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. 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
THE CALVERTHEALTH FOUNDATION IS FOCUSED ON THE DEVELOPMENT, OPTIMIZATION AND OPERATION OF MULTIPLE CHARITABLE DONATION PROGRAMS TO MAXIMIZE SUPPORT FOR CALVERTHEALTH MEDICAL CENTER AND ITS SUBSIDIARIES WHOSE VISION IS TO PROVIDE EXCEPTIONAL CARE AND MAKE A DIFFERENCE IN EVERY LIFE THEY TOUCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCIPLE MISSION OF THE FOUNDATION IS TO SUPPORT CALVERTHEALTH MEDICAL CENTER, INC. IN FY 2021, THE FOUNDATION PROVIDED SUPPORT IN THE AMOUNT OF $993,581 TO CALVERTHEALTH MEDICAL CENTER, INC. THIS YEAR, SUPPORT WAS ALSO PROVIDED TO CALVERTHEALTH MEDICAL GROUP IN THE AMOUNT OF $31,902.
THE SECOND PRINCIPLE MISSION OF THE FOUNDATION IS TO ADMINISTER THE SCHOLARSHIP ENDOWMENT FUNDS FOR THE BENEFIT OF NURSING, ALLIED HEALTH AND MEDICAL DOCTORATE STUDENTS IN SUPPORT OF CALVERTHEALTH MEDICAL CENTER, INC. IN FY 2021, THE FOUNDATION AWARDED $58,000 IN SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denise Bowman Chairperson | OfficerTrustee | 2 | $0 |
Cindy Parlett Vice Chairperson | OfficerTrustee | 1 | $0 |
Marianne Harms Second Vice Chairperson | OfficerTrustee | 4 | $0 |
Dean Teague Ex-Officio Member - CEO | Officer | 1 | $0 |
Carolyn Heithaus Ex-Officio Member - CFO | Officer | 1 | $0 |
Sandra Holler Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $521,775 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $468,193 |
| Noncash contributions included in lines 1a–1f | $103,095 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $989,968 |
| Total Program Service Revenue | $0 |
| Investment income | $345,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,381 |
| Net Income from Fundraising Events | -$35,634 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,324,503 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,025,483 |
| Grants and other assistance to domestic individuals. | $58,000 |
| 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 | $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 | $10,809 |
| Advertising and promotion | $0 |
| Office expenses | $35,060 |
| Information technology | $511 |
| 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 | $1,239 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $308 |
| Total functional expenses | $1,131,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,542,740 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $376,268 |
| 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 | $27,150 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,128,847 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,075,005 |
| Accounts payable and accrued expenses | $501 |
| 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 | $237,904 |
| Total liabilities | $238,405 |
| Net assets without donor restrictions | $3,886,076 |
| Net assets with donor restrictions | $2,950,524 |
| 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 | $7,075,005 |
Grants Awarded
Over the last fiscal year, Calverthealth Foundation Inc has awarded $1,025,483 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Prince Frederick, MD PURPOSE: FUND EQUIP PURCHASES & PROGRAM SERVICES | $993,581 |
Prince Frederick, MD PURPOSE: FUND PROGRAM SERVICES. | $31,902 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Calverthealth Foundation Inc has recieved totaling $47,250.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Anne Arundel County Inc Annapolis, MD PURPOSE: HEALTH AND WELLNESS | $25,000 |
Nora Roberts Foundation Inc Glenn Dale, MD PURPOSE: OPERATIONS | $11,000 |
Davidsonville Ruritan Foundation Inc Davidsonville, MD PURPOSE: UNRESTRICTED | $9,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250 |
Endowment Analysis
| Beg. Balance | $475,310 |
| Ending Balance | $475,310 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grafton City Hospital Inc Grafton, WV | $12,579,232 | $20,111,333 |
Lvhn Scranton Orthopedic Specialists Allentown, PA | $3,870,668 | $16,734,711 |
Guthrie Towanda Memorial Hospital Towanda, PA | $0 | $13,772,403 |
Lehigh Valley Hospital - Coordinated Health Bethlehem Allentown, PA | $0 | $23,779,920 |
Geisinger Jersey Shore Hospital Danville, PA | $29,794,644 | $19,405,127 |
Upmc Pittsburgh, PA | $6,204,114 | $10,718,414 |
Chesapeake Hospital Corporation Kilmarnock, VA | $0 | $13,682,871 |
Mccready Foundation Inc Crisfield, MD | $13,025,961 | $8,609,253 |
Broad Top Area Medical Center Inc Broad Top, PA | $5,548,744 | $12,291,788 |
Camden On Gauley Medical Center Inc Camden On Gauley, WV | $15,429,396 | $14,316,494 |
Park West Health Systems Incorporated Baltimore, MD | $4,907,418 | $12,113,208 |
Upmc Erie, PA | $6,775,107 | $10,738,972 |