Medical Park Foundation Inc
- Assets
- $14.4m
- Revenue
- $272.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Lagrange, GA
- Founding
- 03/1978
- Data as of
- 06/2022
- EIN
- 58-1303478
Organization Overview
Medical Park Foundation Inc is located in Lagrange, GA. 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. Medical Park 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 06/2022, Medical Park Foundation Inc generated $272.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $39.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.2%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF WEST GEORGIA MEDICAL CENTER, INC. D/B/A/ WELLSTAR WEST GEORGIA MEDICAL CENTER
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL PARK FOUNDATION, IC, IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) BECAUSE THE ACCUMULATED INCOME OF THE FOUNDATION IS RESTRICTED IN SUPPORT OF WEST GEORGIA MEDICAL CENTER D/B/A WELLSTAR WEST GEORGIA MEDICAL CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Hudson Jr Vice Preside | OfficerTrustee | 1 | $0 |
Coleman Foss Secretary/tr | OfficerTrustee | 1 | $0 |
Paul S Penn III President/di | OfficerTrustee | 3 | $0 |
Joel Upchurch Director | Trustee | 1 | $0 |
John C Mckibben Director | Trustee | 1 | $0 |
Ellen Harris Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Principle Construction General Contractor | 6/29/18 | $927,685 |
Morpower Electrical Llc General Contractor | 6/29/18 | $135,449 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $164 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $272,375 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $272,654 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $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 | $39,600 |
| 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 | $39,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $917,484 |
| Savings and temporary cash investments | $244,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,457 |
| 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 | $24,155 |
| Net Land, buildings, and equipment | $12,825,248 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $393,378 |
| Total assets | $14,419,580 |
| Accounts payable and accrued expenses | $220,202 |
| Grants payable | $0 |
| Deferred revenue | $22,040 |
| 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 | $3,087 |
| Total liabilities | $245,329 |
| Net assets without donor restrictions | $6,158,382 |
| Net assets with donor restrictions | $8,015,869 |
| 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 | $14,419,580 |
Grants Awarded
Over the last fiscal year, Medical Park Foundation Inc has awarded $69,481 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Marietta, GA PURPOSE: TO SUPPORT THE WEST GEORGIA MEDICAL CENTER, INC. | $50,000 |
Marietta, GA PURPOSE: TO PROVIDED ADDITIONAL FUNDING TO THE WEST GEORGIA MEDICAL CENTER, INC.'S SIMS SCHOLARSHIP FUND. | $19,481 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quantum Foundation Inc West Palm Beach, FL | $185,235,492 | $17,292,125 |
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 |
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 |
Methodist Healthcare Community Care Association Memphis, TN | $1,592,989 | $9,525,563 |
Hardeman County Community Health Center Bolivar, TN | $6,616,339 | $7,984,503 |
Hospital Authority Of Clarke County Georgia Athens, GA | $176,767,692 | $7,567,283 |
Hoosier Care Inc Nashville, TN | $1,347,873 | $6,534,147 |
The Medical Center At Ocean Reef Inc Key Largo, FL | $2,795,196 | $6,585,064 |
Happi Health Huntsville, AL | $1,706,091 | $5,693,373 |