Texas Heart Institute
- Assets
- $239.3m
- Revenue
- $28.3m
- Investments
- $0.0
- Employees
- 226
- Location
- Houston, TX
- Founding
- 05/1964
- Data as of
- 12/2022
- EIN
- 74-6053200
Organization Overview
Texas Heart Institute is located in Houston, TX. The organization was established in 1964. According to its NTEE Classification (H43) the organization is classified as: Heart & Circulatory System Diseases & Disorders Research, under the broad grouping of Medical Research and related organizations. As of 12/2022, Texas Heart Institute employed 226 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Heart Institute 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, Texas Heart Institute generated $28.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $44.4m during the year ending 12/2022. 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 REDUCE THE DEVASTATING TOLL OF CARDIOVASCULAR DISEASE THROUGH INNOVATIVE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric D Wade Chair | OfficerTrustee | 2 | $0 |
Alfred C Glassell III Vice Chair | OfficerTrustee | 2 | $0 |
Robert T Blakely Trustee | Trustee | 2 | $0 |
David M Grimes II Trustee | Trustee | 2 | $0 |
T Douglas Lawson PHD Trustee | Trustee | 2 | $0 |
Bradley T Lembcke MD Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ecg Topco Holdings Llc Consulting | 12/30/22 | $181,099 |
Blazek & Vetterling Accounting And Tax | 12/30/22 | $170,605 |
Medhi Razavi Medical Research | 12/30/22 | $168,000 |
Porter Hedges Llp Legal | 12/30/22 | $144,692 |
Fayez Sarofim & Co Investment Management | 12/30/22 | $115,366 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,726,441 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,438,736 |
| Noncash contributions included in lines 1a–1f | $12,990 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,165,177 |
| Total Program Service Revenue | $3,842,406 |
| Investment income | $2,879,498 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $305,503 |
| Net Gain/Loss on Asset Sales | $1,104,853 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,297,437 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,248,786 |
| 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. | $2,520,569 |
| Compensation of current officers, directors, key employees. | $856,427 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,000,733 |
| Pension plan accruals and contributions | $464,899 |
| Other employee benefits | $1,483,574 |
| Payroll taxes | $1,043,601 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $428,945 |
| Fees for services: Accounting | $170,605 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $541,600 |
| Fees for services: Other | $2,965,907 |
| Advertising and promotion | $604,290 |
| Office expenses | $254,020 |
| Information technology | $266,872 |
| Royalties | $0 |
| Occupancy | $3,737,570 |
| Travel | $142,830 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,802 |
| Interest | $4,396 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,967,350 |
| Insurance | $481,930 |
| All other expenses | $0 |
| Total functional expenses | $44,374,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,257,820 |
| Savings and temporary cash investments | $107,598 |
| Pledges and grants receivable | $912,351 |
| Accounts receivable, net | $976,470 |
| 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 | $503,997 |
| Net Land, buildings, and equipment | $20,359,295 |
| Investments—publicly traded securities | $136,009,545 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,149,353 |
| Total assets | $239,276,429 |
| Accounts payable and accrued expenses | $2,294,651 |
| Grants payable | $0 |
| Deferred revenue | $2,494,049 |
| 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 | $2,942,784 |
| Total liabilities | $7,731,484 |
| Net assets without donor restrictions | $112,547,106 |
| Net assets with donor restrictions | $118,997,839 |
| 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 | $239,276,429 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Heart Institute Houston, TX | $239,276,429 | $28,297,437 |
Leducq Foundation For Cardiovascular Research Houston, TX | $65,970,226 | $8,208,035 |
Oklahoma Heart Hospital Research Foundation Oklahoma City, OK | $1,604,034 | $1,053,193 |
Johnsie & Aubary Montgomeryinstitute Of Med Edu & Research Inc Houston, TX | $1,457,568 | $457,435 |
Oklahoma Heart Research And Education Foundation Tulsa, OK | $877,972 | $790,087 |
Championship Hearts Foundation Austin, TX | $41,799 | $285,547 |
Interventional Cardiology Research Foundation Metairie, LA | $1,734,129 | $181,595 |
Housten Center For Vascular Health Houston, TX | $69,087 | $0 |
Coastal Heart Foundation San Antonio, TX | $116,840 | $2,781 |
Cardiopulmonary Research Science and Technology Institute Dallas, TX | $217,260 | $0 |
Houston Shock Symposium Houston, TX | $0 | $0 |