Beaufort Memorial Hospital Endowment Foundation
- Assets
- $22.9m
- Revenue
- $6.0m
- Investments
- $22.2m
- Employees
- 0
- Location
- Beaufort, SC
- Founding
- 08/1985
- Data as of
- 09/2021
- EIN
- 57-0792360
Organization Overview
Beaufort Memorial Hospital Endowment Foundation is located in Beaufort, SC. The organization was established in 1985. 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. Beaufort Memorial Hospital Endowment 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, Beaufort Memorial Hospital Endowment Foundation generated $6.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $1.8m during the year ending 09/2021. While expenses have increased by 4.5% 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, Beaufort Memorial Hospital Endowment Foundation has awarded 44 individual grants totaling $16,752,537. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL RESOURCES TO BETTER ENABLE BEAUFORT MEMORIAL HOSPITAL TO SERVE THE CURRENT AND FUTURE HEALTH NEEDS OF THE PEOPLE OF BEAUFORT COUNTY AND THE SURROUNDING AREAS, AS WELL AS TO FOSTER HEALTH AND WELLNESS THROUGHOUT THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PAYOUT OF $898,606 FROM THE FOUNDATION'S ENDOWMENT FUND TO BEAUFORT MEMORIAL HOSPITAL PROVIDED UNRESTRICTED REVENUE TO ASSIST THE HOSPITAL IN MAINTAINING FINANCIAL STRENGTH WHILE IT CONTINUES TO SERVE ALL WHO NEED ITS SERVICES.
CAPITAL AND EQUIPMENT PURCHASES WERE UNDERWRITTEN ALLOWING SEVERAL PATIENT CARE DEPARTMENTS TO UPGRADE OR ENHANCE EQUIPMENT NEEDED TO PROVIDE SUPERIOR HEALTHCARE TO THE COMMUNITY.
SUPPORT FOR A VARIETY OF HEALTHCARE AND COMPASSIONATE SERVICES GEARED TO COMMUNITY OUTREACH - WELLNESS, EMPLOYEE EDUCATION AND ASSISTANCE, UNINSURED PATIENT SUPPORT, OR DISEASE MANAGEMENT AND RESEARCH WERE PROVIDED BY THESE FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Yawn Assoc. VP & Cdo | OfficerTrustee | 40 | $0 |
Anthony Britton Treasurer | Officer | 1 | $0 |
Daniel Barton Vice Chairman | Officer | 1 | $0 |
Marjorie Gray Secretary | Officer | 1 | $0 |
Russell Baxley Ex Officio | Officer | 1 | $0 |
Hampton Long Chairman | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $250,114 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,376,123 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,626,237 |
| Total Program Service Revenue | $0 |
| Investment income | $272,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,051,842 |
| Net Income from Fundraising Events | $13,269 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,963,609 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,658,378 |
| Grants and other assistance to domestic individuals. | $16,156 |
| 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 | $137,559 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Total functional expenses | $1,818,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $206,895 |
| Pledges and grants receivable | $327,731 |
| 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 | $140,854 |
| Investments—other securities | $22,219,227 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,040 |
| Total assets | $22,913,747 |
| Accounts payable and accrued expenses | $447,357 |
| 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 | $10,463 |
| Total liabilities | $457,820 |
| Net assets without donor restrictions | $20,181,473 |
| Net assets with donor restrictions | $2,274,454 |
| 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 | $22,913,747 |
Grants Awarded
Over the last fiscal year, Beaufort Memorial Hospital Endowment Foundation has awarded $1,655,190 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Beaufort, SC PURPOSE: ENDOWMENT | $898,606 |
Beaufort, SC PURPOSE: GEN SUPPORT | $724,649 |
Beaufort, SC PURPOSE: GEN SUPPORT | $10,627 |
EMPLOYEE FUND PURPOSE: GENERAL SUPPORT | $5,366 |
CAPA PURPOSE: GEN SUPPORT | $5,314 |
HOPEFUL HORIZIONS PURPOSE: GEN SUPPORT | $5,314 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Beaufort Memorial Hospital Endowment Foundation has recieved totaling $170,073.
| Awarding Organization | Amount |
|---|---|
Pledge The Pink Foundation Bluffton, SC PURPOSE: CANCER RESEARCH | $75,000 |
The Community Foundation For Northeast Florida Inc Jacksonville, FL PURPOSE: $7,816 FOR PLASMA FREEZER TO STORE COVID-19 CONVALESCENT PLASMA; $20,000 FOR BENIGN HEMATOLOGY CLINIC OVERSIGHT BY MEDICAL DIRECTOR; $20,000 FOR PATIENT TRANSPORTATION TO BENIGN HEMATOLOGY CLINIC | $47,816 |
United Way Of The Lowcountry Inc Beaufort, SC PURPOSE: PROGRAM | $25,000 |
Wyoming Community Foundation Laramie, WY PURPOSE: Health | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $6,100 |
Ceres Foundation Inc Charleston, SC PURPOSE: GENERAL FUND | $5,000 |
Endowment Analysis
| Beg. Balance | $17,344,490 |
| Earnings | $3,015,163 |
| Net Contributions | $16,744 |
| Grants | $1,052,322 |
| Ending Balance | $19,324,075 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Armc Physicians Care Inc Greensboro, NC | $1,939,063 | $13,036,879 |
Healthcare Foundation Of Wilson Wilson, NC | $207,911,505 | $10,473,791 |
Alleghany County Memorial Hospital Inc Sparta, NC | $23,031,959 | $15,886,871 |
Wellstar Sylvan Grove Hospital Inc Marietta, GA | $8,619,975 | $16,516,673 |
Pender Memorial Hospital Incorporated Burgaw, NC | $39,814,102 | $13,183,408 |
Kershawhealth Camden, SC | $123,086,645 | $13,029,458 |
The Spartanburg Regional Healthcare System Foundation Spartanburg, SC | $49,277,778 | $9,433,693 |
Mcleod Medical Center Foundation Florence, SC | $18,821,181 | $10,718,448 |
Glynn-Brunswick Memorial Hospital Authority Brunswick, GA | $242,841,000 | $8,949,000 |
Hospital Authority Of Clarke County Georgia Athens, GA | $176,767,692 | $7,567,283 |
Americus & Sumter County Hospital Authority Americus, GA | $60,458,156 | $1,420,033 |
Durham Asset Management Company Incorporated Durham, NC | $4,661,341 | $4,673,603 |