Knoxville Academy Of Medicine Foundation
- Assets
- $2.3m
- Revenue
- $2.2m
- Investments
- $166.6k
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 11/1989
- Data as of
- 12/2022
- EIN
- 62-1458199
Organization Overview
Knoxville Academy Of Medicine Foundation is located in Knoxville, TN. The organization was established in 1989. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knoxville Academy Of Medicine 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 12/2022, Knoxville Academy Of Medicine Foundation generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 7.3% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE NO-COST HEALTH CARE TO FAMILIES WHO HAVE NO INSURANCE AND DO NOT QUALIFY FOR THE STATE'S LOW INCOME INSURANCE PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE FOUNDATION IS TO PROVIDE AN APPROPRIATE ENTITY FOR THE RECEIPT OF INTER VIVOS GIFTS, TESTAMENTARY BEQUESTS, AND OTHER PHILANTHROPIC SUPPORT FROM INTERESTED PERSONS AND/OR ENTITIES FOR THE MAINTENANCE, RESTORATION, PRESERVATION AND / OR FOR SUCH OTHER APPROPRIATE PROFESSIONAL /MEDICAL INITIATIVES AND PROGRAMS AND OTHER LAWFUL PROVISIONS OF THE TENNESSEE NONPROFIT CORPORATION ACT, TCA SECTION 48-51-101 ET SEQ., AND THE PROVISIONS OF SECTION 170(C) (3) AND SECTION 201 (C) (3) OF THE INTERNAL REVENUE CODE. IN THE PAST, THE MOST OF THE FOUNDATION'S EFFORT WAS TO PROVIDE FLU SHOTS TO PEOPLE IN THE KNOXVILLE AREA. THIS WAS MOSTLY FINANCED BY THE MEMBERS OF KAM AND CONTRIBUTIONS RECEIVED AT THE EVENT WENT TO A LOCAL CHARITY. THE WAS DISCONTINUED AND HAS BEEN REPLACED BY A PROGRAM TO PROVIDE NO-COST HEALTH CARE TO FAMILIES WHO HAVE NO INSURANCE AND DO NOT QUALIFY FOR THE STATE'S LOW INCOME INSURANCE PROGRAM. IN THE PAST YEAR THE FOUNDATION HAS ASSISTED MORE THAN 4500 INDIVIDUAL PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Pennimanm DO Director | Trustee | 2 | $0 |
Neil Barry DO Director | Trustee | 2 | $0 |
James Shamiyeh MD Director | Trustee | 2 | $0 |
Joseph Rothwell MD Director | Trustee | 2 | $0 |
Neil Coleman MD Director | Trustee | 2 | $0 |
Pat O'brien MD Immediate Pa | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,117,608 |
| All other contributions, gifts, grants, and similar amounts not included above | $199 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,117,807 |
| Total Program Service Revenue | $0 |
| Investment income | $535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,364 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $61,121 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,181,827 |
| 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 | $881,626 |
| Pension plan accruals and contributions | $50,051 |
| Other employee benefits | $129,101 |
| Payroll taxes | $82,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $8,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $87,229 |
| Office expenses | $19,508 |
| Information technology | $8,668 |
| Royalties | $0 |
| Occupancy | $28,822 |
| Travel | $4,934 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,162 |
| Insurance | $1,601 |
| All other expenses | $143 |
| Total functional expenses | $1,663,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,755 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,024,687 |
| Accounts receivable, net | $5,950 |
| 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 | $93,372 |
| Net Land, buildings, and equipment | $80,096 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $166,557 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $895,876 |
| Total assets | $2,306,293 |
| Accounts payable and accrued expenses | $3,830 |
| 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 | $1,003,414 |
| Total liabilities | $1,007,244 |
| Net assets without donor restrictions | $224,702 |
| Net assets with donor restrictions | $1,074,347 |
| 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 | $2,306,293 |