Memorial Foundation Inc
- Assets
- $128.8m
- Revenue
- $10.3m
- Investments
- $117.1m
- Employees
- 5
- Location
- Hendersonville, TN
- Founding
- 12/1983
- Data as of
- 12/2022
- EIN
- 62-1202302
Organization Overview
Memorial Foundation Inc is located in Hendersonville, TN. The organization was established in 1983. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2022, Memorial Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memorial 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 12/2022, Memorial Foundation Inc generated $10.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $8.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Memorial Foundation Inc has awarded 1,660 individual grants totaling $55,627,905. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE QUALITY OF LIFE FOR PEOPLE THROUGH SUPPORT OF NONPROFIT ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING GRANTS TO OTHER 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott S Perry President | 40 | $308,982 | |
Jackson Routh Vice Pres, Programs And Grants | 40 | $179,792 | |
Judy Milliken Vice Pres, Finance | 40 | $113,975 | |
David E Mckee Chair | 0.1 | $0 | |
Varina F Buntin Vice Chair | 0.1 | $0 | |
Alfonzo Alexander Secretary | 0.1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dcw Construction Co Inc Construction | 12/30/18 | $160,153 |
Dyer Construction Construction | 12/30/18 | $158,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $99,663 |
| Dividends & Interest | $4,320,271 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,757,443 |
| Capital Gain Net Income | $4,757,443 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,161,728 |
| Total Revenue | $10,339,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $602,749 |
| Other employee salaries and wages | $154,249 |
| Pension plans, employee benefits | $229,936 |
| Interest | $0 |
| Taxes | $178,258 |
| Depreciation | $9,006 |
| Occupancy | $136,346 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $72,622 |
| Total operating and administrative expenses | $2,611,561 |
| Contributions, gifts, grants paid | $6,053,424 |
| Total expenses and disbursements | $8,664,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,529,365 |
| Savings and temporary cash investments | $3,790,451 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,553 |
| Net Investments - land, buildings, equipment | $15,711 |
| Investments—mortgage loans | $0 |
| Investments—other | $117,099,844 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $302,553 |
| Total assets | $128,755,477 |
| Accounts payable and accrued expenses | $175,701 |
| Grants payable | $305,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $361,701 |
| Total liabilities | $842,402 |
Grants Awarded
Over the last fiscal year, Memorial Foundation Inc has awarded $6,053,424 in support to 186 organizations.
| Grant Recipient | Amount |
|---|---|
100 BLACK MEN OF MIDDLE TENNESSEE PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $45,000 |
413 STRONG PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $25,000 |
ABLE YOUTH PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $10,000 |
ACHILLES INTERNATIONAL-NASHVILLE CHAPTER PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $5,000 |
ADVOCATES FOR WOMEN'S & KIDS' EQUALITY (AWAKE) INC PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $5,000 |
AGEWELL MIDDLE TENNESSEE PURPOSE: TO FURTHER ONE OR MORE OF THE EXEMPT PURPOSES OF THE CHARITY | $20,000 |