Friends Of@discovery Health Sciences Foundation Inc
- Assets
- $43.9m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Kenner, LA
- Founding
- 12/2017
- Data as of
- 06/2022
- 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 06/2022, Friends Of@discovery Health Sciences Foundation Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 60.5% each year . All expenses for the organization totaled $4.7m during the year ending 06/2022. While expenses have increased by 59.3% per year over the past 5 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
2022
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 |
|---|---|---|---|
Daniel R Martiny JD Director | Trustee | 0.8 | $0 |
Diane Hollis Director | Trustee | 0.8 | $0 |
Wayne Thomas President | OfficerTrustee | 2 | $0 |
Ronnie Slone Secretary/treasurer | OfficerTrustee | 0.8 | $0 |
Patty Glaser PHD CEO | Officer | 8 | $0 |
Don Wheat CFO | Officer | 8 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vanguard Modular Building Systems Modular Construction | 6/29/19 | $257,718 |
Adams And Reese Legal Services | 6/29/19 | $182,542 |
Albright Management Strategies Construction Management | 6/29/19 | $101,410 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $160,599 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $309,946 |
| Noncash contributions included in lines 1a–1f | $267,083 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $470,545 |
| Total Program Service Revenue | $3,628,642 |
| Investment income | $1,851 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$39,683 |
| Net Income from Gaming Activities | $40,810 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,102,165 |
| 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 | $0 |
| Fees for services: Accounting | $550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $11,611 |
| Royalties | $0 |
| Occupancy | $1,500 |
| Travel | $379 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,483,161 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,826,787 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,671,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $998,594 |
| Savings and temporary cash investments | $4,159,113 |
| Pledges and grants receivable | $100,909 |
| 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 | $38,607,099 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $59,408 |
| Total assets | $43,925,123 |
| Accounts payable and accrued expenses | $23,447 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $41,471,964 |
| 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 | $2,927,707 |
| Total liabilities | $44,423,118 |
| Net assets without donor restrictions | -$840,191 |
| Net assets with donor restrictions | $342,196 |
| 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 | $43,925,123 |