Friends Of@discovery Health Sciences Foundation Inc
- Assets
- $45.4m
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Kenner, LA
- Founding
- 12/2017
- Data as of
- 06/2021
- EIN
- 81-5342004
Organization Overview
Friends Of@discovery Health Sciences Foundation Inc is located in Kenner, LA. The organization was established in 2017. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of@discovery Health Sciences Foundation Inc 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 06/2021, Friends Of@discovery Health Sciences Foundation Inc generated $5.3m in total revenue. All expenses for the organization totaled $4.5m during the year ending 06/2021. While expenses have increased by 76.9% per year over the past 4 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
IT IS THE MISSION, DUTY, AND PURPOSE OF FRIENDS OF DISCOVERY HEALTH SCIENCES FOUNDATION, INC. TO SUPPORT, IN EVERY WAY POSSIBLE, DISCOVERY HEALTH SCIENCES FOUNDATION, INC. IN ITS IMPORTANT MISSION TO PROVIDE A RIGOROUS LEARNING ENVIRONMENT WHERE STUDENTS ACHIEVE ACADEMICALLY, DEVELOP INTELLECTUAL CURIOSITY, AND PRACTICE ENVIRONMENTAL RESPONSIBILITY WHILE EXPLORING HEALTH AND SCIENCE TOPICS AND CAREERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISED FUNDS FROM INDIVIDUALS, TRUSTS, PRIVATE AND PUBLIC GRANTS, AND CORPORATIONS THROUGHOUT THE YEAR. THE ORGANIZATION IS DIRECTLY RESPONSIBLE FOR PLANNING, FINANCING, AND CONSTRUCTING A PERMANENT FACILITY IN KENNER, LOUISIANA FOR THE USE OF THE KENNER DISCOVERY HEALTH SCIENCES ACADEMY (OPERATED BY DISCOVERY HEALTH SCIENCES FOUNDATION, INC.).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Slone Secretary/treasurer | OfficerTrustee | 2 | $0 |
Wayne Thomas President | OfficerTrustee | 2 | $0 |
Patty Glaser PHD CEO | Officer | 8 | $0 |
Don Wheat CFO | Officer | 8 | $0 |
Daniel R Martiny JD Director | Trustee | 0.75 | $0 |
Diane Hollis Director | Trustee | 0.75 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adams And Reese Legal Services | 6/29/19 | $182,542 |
Vanguard Modular Building Systems Modular Construction | 6/29/19 | $257,718 |
Albright Management Strategies Construction Management | 6/29/19 | $101,410 |
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 | $2,060,130 |
| Noncash contributions included in lines 1a–1f | $929,675 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,060,130 |
| Total Program Service Revenue | $3,224,983 |
| Investment income | $534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $17,712 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,327,219 |
| 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 | $56,712 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,255 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,857 |
| Travel | $1,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,504,912 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,814,839 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,457,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $914,050 |
| Savings and temporary cash investments | $4,156,382 |
| Pledges and grants receivable | $200,000 |
| 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 | $40,086,253 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $92,345 |
| Total assets | $45,449,030 |
| Accounts payable and accrued expenses | $2,325 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $41,869,937 |
| 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 | $3,505,069 |
| Total liabilities | $45,377,331 |
| Net assets without donor restrictions | -$528,301 |
| Net assets with donor restrictions | $600,000 |
| 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 | $45,449,030 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of@discovery Health Sciences Foundation Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Pro Bono Publico Foundation New Orleans, LA PURPOSE: PROVIDE A RIGOROUS LEARNING ENVIRONMENT WHERE STUDENTS ACHIEVE ACADEMICALLY, DEVELOP INTELLECTUAL CURIOSITY, AND PRACTICE ENVRIONMENTAL RESPONSIBILITY | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisiana At Lafayette Foundation Lafayette, LA | $292,703,277 | $46,235,918 |
Louisiana Tech University Foundation Inc Ruston, LA | $117,962,998 | $18,845,072 |
America Can Cars For Kids Dallas, TX | $4,240,577 | $12,374,341 |
University Of Southern Mississippi Foundation Hattiesburg, MS | $151,472,857 | $19,113,544 |
Robert M Hearin Support Foundation Jackson, MS | $193,382,417 | $17,750,137 |
Friends Of Imagine International Academy Of North Texas Mckinney, TX | $32,038,501 | $13,231,420 |
Cynthia & Geo Mitchell Foundation The Woodlands, TX | $379,261,425 | $375,406 |
University Of Texas Law School Foundation Austin, TX | $263,458,115 | $22,437,207 |
Dallas Seminary Foundation Dallas, TX | $76,216,359 | $8,000,736 |
Sul Ross State University Foundation Alpine, TX | $1,687,998 | $1,230,429 |
University Of New Orleans Foundation New Orleans, LA | $129,213,862 | $21,783,517 |
Grambling High Foundation Grambling, LA | $36,491,619 | $11,923,300 |