Elyria Medical Center Foundation
- Assets
- $24.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Elyria, OH
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 61-1579760
Organization Overview
Elyria Medical Center Foundation is located in Elyria, OH. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elyria Medical Center 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, Elyria Medical Center Foundation generated $2.5m 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 (8.5%) each year. All expenses for the organization totaled $310.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (22.1%) 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
SUPPORT AND ASSIST THE MISSION OF UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION GRANTS ASSISTANCE TO UNIVERSITY HOSPITALS ELYRIA MEDICAL CENTER TO FURTHER ENHANCE THE MEDICAL CENTER'S MISSION AND COMMUNITY BENEFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bond Bradley C Vice President/secretary/treasurer | OfficerTrustee | 2 | $0 |
Sink Kristi M Director/president (end 08/21) | OfficerTrustee | 2 | $0 |
Flanigan Kevin J Director/chairperson | OfficerTrustee | 2 | $0 |
Mole Karen L Director/vice President | OfficerTrustee | 2 | $0 |
Lent Daniel Director | Trustee | 2 | $0 |
Tweardy Kimberly Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $70,193 |
| 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 | $70,193 |
| Total Program Service Revenue | $0 |
| Investment income | $1,414,533 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,011,715 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,496,441 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $191,400 |
| 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 | $106,717 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,624 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,279 |
| 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 | $1,136 |
| Total functional expenses | $310,393 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $24,177,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,617 |
| Total assets | $24,181,927 |
| Accounts payable and accrued expenses | $21 |
| Grants payable | $125,000 |
| 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 | $600,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $35,694 |
| Total liabilities | $760,715 |
| Net assets without donor restrictions | $16,409,075 |
| Net assets with donor restrictions | $7,012,137 |
| 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 | $24,181,927 |
Grants Awarded
Over the last fiscal year, Elyria Medical Center Foundation has awarded $3,560,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Shaker Hts, OH PURPOSE: MISSION SUPPORT | $1,500,000 |
Shaker Hts, OH PURPOSE: MISSION SUPPORT | $1,500,000 |
Shaker Heights, OH PURPOSE: MISSION SUPPORT | $280,000 |
Shaker Heights, OH PURPOSE: MISSION SUPPORT | $280,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Elyria Medical Center Foundation has recieved totaling $70,193.
| Awarding Organization | Amount |
|---|---|
University Hospitals Health System Inc Shaker Heights, OH PURPOSE: GENERAL SUPPORT | $70,193 |
Endowment Analysis
| Beg. Balance | $6,249,245 |
| Earnings | $864,292 |
| Other Expense | -$101,400 |
| Ending Balance | $7,012,137 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Samaritas Detroit, MI | $92,322,257 | $101,009,415 |
Indiana Members Credit Union Indianapolis, IN | $2,918,005,380 | $115,174,004 |
Talbert House Cincinnati, OH | $31,118,204 | $71,372,789 |
Dismas Charities Inc Louisville, KY | $50,549,022 | $73,995,842 |
Northeast Michigan Community Service Agency Inc Alpena, MI | $18,757,719 | $61,175,867 |
Graceworks Lutheran Services Dayton, OH | $148,547,516 | $59,310,713 |
Stepforward Cleveland, OH | $18,985,030 | $54,230,994 |
Cincinnati-Hamilton County Community Action Agency Cincinnati, OH | $18,344,887 | $51,573,356 |
Catholic Charities Corporation Cleveland, OH | $62,419,322 | $52,175,078 |
Great Lakes Community Action Partnership Fremont, OH | $28,522,004 | $53,103,851 |
Audubon Area Community Services Inc Owensboro, KY | $41,933,406 | $49,214,124 |
Elrc4kids Inc Greensburg, PA | $6,335,708 | $42,009,228 |