University of Texas System Medical Foundation
- Assets
- $0.0
- Revenue
- $656.4k
- Investments
- $0.0
- Employees
- 1,138
- Location
- Houston, TX
- Founding
- 11/2000
- Data as of
- 08/2020
- EIN
- 74-1769336
Organization Overview
University of Texas System Medical Foundation is located in Houston, TX. The organization was established in 2000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 08/2020, University of Texas System Medical Foundation employed 1,138 individuals. University of Texas System Medical 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 08/2020, University of Texas System Medical Foundation generated $656.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (61.1%) each year. All expenses for the organization totaled $480.9k during the year ending 08/2020. As we would expect to see with falling revenues, expenses have declined by (63.4%) per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SUPPORTS THE OPERATIONS OF RESIDENCY TRAINING PROGRAMS AT THE UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER-HOUSTON (UTHEALTH).
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FISCAL YEAR 2019, THE UNIVERSITY OF TEXAS SYSTEM BOARD OF REGENTS DECIDED THAT ALL OF THE RESIDENTS AND FELLOWS IN TRAINING PROGRAMS WILL BE EMPLOYEES OF UTHEALTH. THE FOUNDATION BEGAN TRANSFERRING THE EMPLOYEES TO UTHEALTH ON JULY 1, 2019. EFFECTIVE SEPTEMBER 1, 2019 THE FOUNDATION HAD NO EMPLOYEES. THE FOUNDATION'S PRIMARY ACTIVITY DURING THE CURRENT FISCAL YEAR IS TO OVERSEE TRANSACTIONS DURING THE 1 YEAR RUN-OUT PERIOD OF ITS SELF-FUNDED HEALTH PLAN, TO MONITOR INVESTMENTS, AND TO PREPARE TO CEASE ALL OPERATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia M Butler MD President | OfficerTrustee | 1 | $0 |
Omotola A Hope MD Secretary | OfficerTrustee | 1 | $0 |
Keely G Smith MD Vice President | OfficerTrustee | 1 | $0 |
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 | $172,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $149,815 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $656,368 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,745 |
| Fees for services: Accounting | $21,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $448,488 |
| Advertising and promotion | $0 |
| Office expenses | $3,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $480,900 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |