Touro Infirmary Foundation
- Assets
- $67.2m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- New Orleans, LA
- Founding
- 01/1991
- Data as of
- 12/2021
- EIN
- 72-1169939
Organization Overview
Touro Infirmary Foundation is located in New Orleans, LA. The organization was established in 1991. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Touro Infirmary 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, Touro Infirmary Foundation generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE MISSION OF TOURO INFIRMARY HOSPITAL AND ITS COMMITMENT TO (CON'T ON SCHEDULE O)PATIENT CARE, HEALTH EDUCATION AND COMMUNITY SERVICE THROUGH LEADERSHIP, RESOURCE DEVELOPMENT AND FINANCIAL STEWARDSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRANTS, GIFTS AND OTHER DISTRIBUTIONS TO SUPPORT TOURO INFIRMARY'S CHARITY CARE INITIATIVES, CAPITAL EQUIPMENT NEEDS, COMMUNITY OUTREACH PROGRAMS (HEALTH CARE EDUCATION), NURSE EDUCATION AND RECRUITMENT, MEDICAL EDUCATION AND EMPLOYEE CRISIS ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Manny Linares President | OfficerTrustee | 3 | $0 |
Meredith Maxwell Current Chair | OfficerTrustee | 5 | $0 |
Josh Friedmann Executive Director | Officer | 45 | $0 |
Paul Rosenblum Board Member | Trustee | 3 | $0 |
Jay Shames Board Member | Trustee | 1 | $0 |
Zach Kupperman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $105,120 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $263,001 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $368,121 |
| Total Program Service Revenue | $0 |
| Investment income | $2,097,631 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,924,293 |
| Net Income from Fundraising Events | -$38,091 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,351,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $900,802 |
| Grants and other assistance to domestic individuals. | $60,349 |
| 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 | $137,713 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,520 |
| Payroll taxes | $10,666 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,357 |
| Fees for services: Other | $58 |
| Advertising and promotion | $0 |
| Office expenses | $9,734 |
| Information technology | $27,912 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,131 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,306,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $157,385 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,337 |
| 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 | $67,008,343 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,237,065 |
| Accounts payable and accrued expenses | $21,454 |
| 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 | $860,185 |
| Total liabilities | $881,639 |
| Net assets without donor restrictions | $56,273,511 |
| Net assets with donor restrictions | $10,081,915 |
| 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 | $67,237,065 |
Grants Awarded
Over the last fiscal year, Touro Infirmary Foundation has awarded $522,037 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New Orleans, LA PURPOSE: TO HELP SUPPORT TOURO INFIRMARY'S EXEMPT PURPOSE | $511,037 |
Kennesaw, GA PURPOSE: SPONSORSHIP FOR AMERICAN CANCER SOCIETY'S 2020 EVENT "MAKING STRIDES AGAINST BREAST CANCER" VIA MARKETING DEPT. SILVER SPONSOR, AND SPONSORSHIP FOR AMERICAN CANCER SOCIETY'S 2020 EVENT "BELLES AND BEAUX BALL" VIA MARKETING DEPT. | $6,000 |
Covington, LA PURPOSE: DONATION TO HELP SUPPORT MEMBERS OF THE PATIENT POPULATION SERVED BY TOURO INFIRMARY | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Touro Infirmary Foundation has recieved totaling $102,670.
| Awarding Organization | Amount |
|---|---|
The Greater New Orleans Foundation New Orleans, LA PURPOSE: HEALTH | $48,818 |
Harry T Howard Iii Foundation Covington, LA PURPOSE: TO PROVIDE FUNDING TO THE NURSE SCHOLARSHIP PROGRAM; PROVIDE A TOURO BABY BOOK TO INCREASE PARENTS READING TO THEIR BABIES AND INCREASE LITERACY RATES IN NEW ORLEANS; AND FUNDING FOR ADAPTIVE MUSIC THERAPY EQUIPMENT FOR BRAIN AND SPINAL CORD INJURY PATIENTS. | $15,000 |
Jewish Endowment Foundation Metairie, LA PURPOSE: GENERAL OPERATIONAL SUPPORT | $13,352 |
Helis Foundation New Orleans, LA PURPOSE: BREAST CANCER CENTER | $10,000 |
Ricardo Puente Family Foundation Inc Pinecrest, FL PURPOSE: HEALTHCARE PROGRAMS/SERVICES | $5,000 |
Sue Sue Charitable Foundation New Orleans, LA PURPOSE: TO AID THE ORGANIZATION'S MISSION TO SUPPORT THOSE INFLICTED WITH BREAST CANCER | $2,500 |
Endowment Analysis
| Beg. Balance | $5,811,631 |
| Other Expense | $49,787 |
| Ending Balance | $5,761,844 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Methodist Hospitals Foundation Inc Dallas, TX | $153,905,809 | $19,053,620 |
Trustmark Corporation And Subsidiaries Medical Benefits Plan Jackson, MS | $3,860,668 | $18,984,113 |
Heart Of Texas Memorial Hospital Brady, TX | $57,981,362 | $27,695,651 |
Mississippi State University Educational Building Corporation Missisippi State, MS | $345,604,158 | $16,366,122 |
Paso Del Norte Health Foundation El Paso, TX | $268,661,526 | $12,325,026 |
Conway Regional Hospital Employees Medical Trust Conway, AR | $4,792,680 | $16,387,089 |
Lsu Health Foundation New Orleans New Orleans, LA | $163,045,964 | $16,219,820 |
Baker & Botts Llp Employees Health Care Trust Agreement Houston, TX | $7,386,009 | $15,322,087 |
Shannon Business Services Inc San Angelo, TX | $6,491,391 | $14,101,592 |
St Luke Foundation Mccomb, MS | $33,823,952 | $17,739,199 |
Covenant Health System Foundation Lubbock, TX | $55,699,431 | $11,499,437 |
Texas Childrens Hospital Foundation Houston, TX | $3,566,256,606 | $201,987,304 |