Texas Heart Medical Group
- Assets
- $3.1m
- Revenue
- $13.8m
- Investments
- $0.0
- Employees
- 62
- Location
- Houston, TX
- Founding
- Data as of
- 12/2021
- EIN
- 84-3475904
Organization Overview
Texas Heart Medical Group is located in Houston, TX. According to its NTEE Classification (G43) the organization is classified as: Heart & Circulatory System Diseases & Disorders, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Texas Heart Medical Group employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Heart Medical Group 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 12/2021, Texas Heart Medical Group generated $13.8m in total revenue. All expenses for the organization totaled $12.0m during the year ending 12/2021. While expenses have increased by 86.5% per year over the past 2 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
TO PROVIDE CUTTING-EDGE CARDIAC CARE TO DIAGNOSE, TREAT, AND PREVENT CARDIOVASCULAR DISEASES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEXAS HEART MEDICAL GROUP (THMG) PROVIDES CUTTING-EDGE CARDIAC CARE TO DIAGNOSE, TREAT, AND PREVENT CARDIOVASCULAR DISEASES; PARTICIPATES IN SCIENTIFIC RESEARCH, AND SUPPORTS MEDICAL EDUCATION AND SCHOLARSHIP. THMG IS A MULTI-CULTURAL MEDICAL GROUP PRACTICE AFFILIATED WITH THE WORLD-RENOWNED TEXAS HEART INSTITUTE THAT SPECIALIZES IN COMPREHENSIVE CARDIOVASCULAR CARE, AND ITS PRACTICE INCLUDES 12 PHYSICIANS SPECIALIZING IN ALL AREAS OF CARDIAC CARE AND PERIPHERAL VASCULAR DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alberto Lopez Director | Trustee | 40 | $797,745 |
Eduardo Hernandez President | Officer | 40 | $786,916 |
D Richard Leachman Director | Trustee | 40 | $749,996 |
Stephanie Coulter Director | Trustee | 40 | $699,996 |
Zvonimir Krajcer Physician | 40 | $590,187 | |
Alexander Postalian Yrausquin Physician | 40 | $403,077 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,016,655 |
| 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 | $5,016,655 |
| Total Program Service Revenue | $8,747,061 |
| Investment income | $0 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,763,716 |
| 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. | $3,083,376 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,196,827 |
| Pension plan accruals and contributions | $134,267 |
| Other employee benefits | $392,942 |
| Payroll taxes | $337,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,798 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $413,427 |
| Advertising and promotion | $24,389 |
| Office expenses | $133,423 |
| Information technology | $6,568 |
| Royalties | $0 |
| Occupancy | $358,496 |
| Travel | $78 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $569 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,564 |
| Insurance | $130,786 |
| All other expenses | $59,836 |
| Total functional expenses | $12,047,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,197,236 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,190,734 |
| 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 | $232,491 |
| Net Land, buildings, and equipment | $521,354 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,141,815 |
| Accounts payable and accrued expenses | $469,582 |
| 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 | $2,913 |
| Total liabilities | $472,495 |
| Net assets without donor restrictions | $2,669,320 |
| 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 | $3,141,815 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Heart Medical Group Houston, TX | $3,141,815 | $13,763,716 |
Hope For The Heart Plano, TX | $3,793,653 | $4,931,558 |
Harry S Moss Heart Trust Dallas, TX | $51,681,296 | $11,982,166 |
Heartgift Foundation Austin, TX | $2,297,744 | $1,675,259 |
Global Heart Education And Research Foundation New Orleans, LA | $474,524 | $1,157,658 |
New Heart Inc Albuquerque, NM | $3,177,749 | $999,578 |
Heart Of Texas Builders Association Waco, TX | $208,413 | $663,605 |
Texas Society Of Plastic Surgeons Austin, TX | $281,261 | $297,439 |
Texas Central Hemophilia Assoc Inc Dallas, TX | $154,037 | $308,762 |
Heart To Heart Pregnancy Support Center Fort Smith, AR | $785,686 | $263,545 |
Heart Of Arkansas Travel Assn Inc Little Rock, AR | $85,878 | $201,179 |
Interamerican Heart Foundation Inc Dallas, TX | $238,158 | $103,394 |