Sealy & Smith Foundation
- Assets
- $2.0b
- Revenue
- $130.8m
- Investments
- $514.2m
- Employees
- 6
- Location
- Galveston, TX
- Founding
- 03/1938
- Data as of
- 12/2023
- EIN
- 74-1109652
Organization Overview
Sealy & Smith Foundation is located in Galveston, TX. The organization was established in 1938. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2023, Sealy & Smith Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sealy & Smith 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 12/2023, Sealy & Smith Foundation generated $130.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $30.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Sealy & Smith Foundation has awarded 40 individual grants totaling $137,519,997. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT OF THE JOHN SEALY HOSPITAL / UNIVERSITY OF TEXAS MEDICAL BRANCH AT GALVESTON (UTMB).
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENDITURES TO SUPPORT THE JOHN SEALY HOSPITAL / UTMB - GALVESTON. SEE SCHEDULE I.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John W Kelso President/director | OfficerTrustee | 5 | $72,000 |
Michael C Doherty Vice President/ Dir. | OfficerTrustee | 5 | $72,000 |
James B Galbraith Director | Trustee | 5 | $72,000 |
E J Pederson Director | Trustee | 5 | $72,000 |
Keith Bassett Director | Trustee | 5 | $72,000 |
William R Sealy Director | Trustee | 5 | $72,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cambridge Associates Llc Investment Managers | 12/30/23 | $1,796,490 |
Focused Investors Llc Investment Managers | 12/30/23 | $790,638 |
Silchester International Investors Investment Managers | 12/30/23 | $608,979 |
Edgbaston Asian Equity Trust Investment Managers | 12/30/23 | $228,041 |
Generation Investment Management Us Llp Investment Managers | 12/30/23 | $406,452 |
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 | $37,276,539 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $43,670,328 |
| Net Rental Income | $1,907,283 |
| Net Gain/Loss on Asset Sales | $41,436,163 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $130,847,488 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,568,304 |
| 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. | $1,121,059 |
| Compensation of current officers, directors, key employees. | $1,121,059 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $127,000 |
| Pension plan accruals and contributions | $69,250 |
| Other employee benefits | $63,894 |
| Payroll taxes | $44,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,428 |
| Fees for services: Accounting | $71,650 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,781,091 |
| Fees for services: Other | $127,848 |
| Advertising and promotion | $0 |
| Office expenses | $48,916 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,081 |
| 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 | $65,650 |
| All other expenses | $2,395 |
| Total functional expenses | $30,063,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,250 |
| Savings and temporary cash investments | $113,202,284 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $554,732 |
| 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 | $69,465 |
| Net Land, buildings, and equipment | $8,514,593 |
| Investments—publicly traded securities | $1,350,291,256 |
| Investments—other securities | $514,210,606 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,801,277 |
| Total assets | $2,037,694,463 |
| Accounts payable and accrued expenses | $623,682 |
| Grants payable | $95,883,419 |
| Deferred revenue | $40,000 |
| 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 | $2,423,374 |
| Total liabilities | $98,970,475 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $1,938,723,988 |
| 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 | $2,037,694,463 |
Grants Awarded
Over the last fiscal year, Sealy & Smith Foundation has awarded $25,516,641 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
JOHN SEALY HOSPITALUTMB PURPOSE: SEE ATTACHED DETAIL | $24,020,135 |
THE UNIVERSITY OF TEXAS MEDICAL BRANCH PURPOSE: PRIMARY CARE PAVILION | $551,409 |
THE UNIVERSITY OF TEXAS MEDICAL BRANCH PURPOSE: UTMB HUMAN RESOURCES | $376,260 |
THE UNIVERSITY OF TEXAS MEDICAL BRANCH PURPOSE: R. WAVERLY SMITH PAVILION | $100,311 |
THE UNIVERSITY OF TEXAS MEDICAL BRANCH PURPOSE: UTMB OPHTALMOLOGY CLINIC | $252,143 |
THE UNIVERSITY OF TEXAS MEDICAL BRANCH PURPOSE: WEST END CLINIC PROPERTY | $47,153 |