Project Medsend
- Assets
- $3.4m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 19
- Location
- Fort Mill, SC
- Founding
- 06/1993
- Data as of
- 06/2023
- EIN
- 75-2470543
Organization Overview
Project Medsend is located in Fort Mill, SC. The organization was established in 1993. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Project Medsend employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Medsend 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 06/2023, Project Medsend generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEDSEND PROVIDES EDUCATIONAL LOAN REPAYMENT GRANTS TO CHRISTIAN HEALTHCARE PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NATIONAL SCHOLARS - TO PAY FOR THE EDUCATIONAL EXPENSES INCURRED BY APPROVED GRANT RECIPIENTS RELATED TO MEDICAL RESIDENCY PROGRAMS CONDUCTED BY MEDSEND INTERNATIONAL ASSOCIATES.
MEDSEND TO THE WORLD - TO REPAY THE EDUCATIONAL LOANS OF HEALTH CARE WORKERS AS THEY SERVE AT HOME (USA) AND ABROAD.
LONGEVITY PROGRAM - TO INCREASE THE AVERAGE LENGTH OF SERVICE OF THE MEDSEND GRANT RECIPIENT MISSIONARY BY FOCUSING ON RESILIENCE AND SUSTAINABILITY, SEEKING TO IMPROVE THEIR PROFESSIONAL, PERSONAL, AND SPIRITUAL WELLBEING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Secretary/director | OfficerTrustee | 4 | $0 |
Name Not Listed Chairman/director | OfficerTrustee | 4 | $0 |
Name Not Listed Treasurer/director | OfficerTrustee | 4 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Name Not Listed Director (part Year) | Trustee | 2 | $0 |
Name Not Listed Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $172,047 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,474,599 |
| Noncash contributions included in lines 1a–1f | $74,974 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,646,646 |
| Total Program Service Revenue | $8,375 |
| Investment income | $49,348 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $112,583 |
| Net Income from Fundraising Events | $1 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,817,005 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $341,086 |
| Grants and other assistance to Foreign Orgs/Individuals | $844,432 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,309 |
| Compensation of current officers, directors, key employees. | $22,696 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $833,713 |
| Pension plan accruals and contributions | $41,957 |
| Other employee benefits | $79,072 |
| Payroll taxes | $75,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,369 |
| Fees for services: Accounting | $5,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $25,000 |
| Fees for services: Investment Management | $84 |
| Fees for services: Other | $127,073 |
| Advertising and promotion | $42,302 |
| Office expenses | $23,213 |
| Information technology | $26,736 |
| Royalties | $0 |
| Occupancy | $36,740 |
| Travel | $454,622 |
| 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 | $2,983 |
| All other expenses | $2,952 |
| Total functional expenses | $3,192,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,792 |
| Savings and temporary cash investments | $1,336,851 |
| Pledges and grants receivable | $304,878 |
| 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 | $8,986 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,576,396 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,995 |
| Total assets | $3,442,898 |
| Accounts payable and accrued expenses | $78,244 |
| 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 | $72,995 |
| Total liabilities | $151,239 |
| Net assets without donor restrictions | $3,001,361 |
| Net assets with donor restrictions | $290,298 |
| 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 | $3,442,898 |
Grants Awarded
Over the last fiscal year, Project Medsend has awarded $558,379 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
WORLD GOSPEL MISSION PURPOSE: PROVIDE FUNDS FOR GBL PROG WHICH ENABLE NATIONAL DRS TO COMPLETE ADVANCED MEDICAL ED. | $215,879 |
CURE INTERNATIONAL PURPOSE: PROVIDE FUNDS FOR GBL PROG WHICH ENABLE NATIONAL DRS TO COMPLETE ADVANCED MEDICAL ED. | $100,000 |
PAN-AFRICAN ACADEMY OF CHRISTIAN SURGEONS (PAACS) PURPOSE: PROVIDE FUNDS FOR GBL PROG WHICH ENABLE NATIONAL DRS TO COMPLETE ADVANCED MEDICAL ED. | $175,000 |
IN HIS IMAGE INTERNATIONAL PURPOSE: PROVIDE FUNDS FOR GBL PROG WHICH ENABLE NATIONAL DRS TO COMPLETE ADVANCED MEDICAL ED. | $67,500 |