Hoag Hospital Foundation
- Assets
- $543.0m
- Revenue
- $43.0m
- Investments
- $211.5m
- Employees
- 0
- Location
- Newport Beach, CA
- Founding
- 05/1978
- Data as of
- 12/2022
- EIN
- 95-3222343
Organization Overview
Hoag Hospital Foundation is located in Newport Beach, CA. The organization was established in 1978. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hoag Hospital Foundation 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, Hoag Hospital Foundation generated $43.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $57.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Hoag Hospital Foundation has awarded 29 individual grants totaling $187,926,280. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF HOAG HOSPITAL FOUNDATION IS ADVANCING THE MISSION OF HOAG MEMORIAL HOSPITAL PRESBYTERIAN THROUGH MEANINGFUL AND INSPIRATIONAL PHILANTHROPIC PARTNERSHIPS.
Describe the Organization's Program Activity:
PROVIDE SUPPORT TO HOAG MEMORIAL HOSPITAL PRESBYTERIAN FOR EXPANSION, EQUIPMENT, PROGRAMS, NURSING SCHOLARSHIPS AND VARIOUS OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Braithwaite Ceo, Hoag Hospital | Trustee | 2 | $0 |
Flynn Andrizzi President Foundation | OfficerTrustee | 50 | $0 |
Richard Taketa Board Chair | Trustee | 5 | $0 |
Deborah Margolis Board Vice Chair | Trustee | 4 | $0 |
Kyle Westcoat Board Treasurer | Trustee | 4 | $0 |
Carolyn Mckitterick Board Secretary | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
336 Productions Videography | 12/30/22 | $126,434 |
Attain Consulting Software Consultant | 12/30/22 | $402,031 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $16,397 |
| Membership dues | $0 |
| Fundraising events | $1,925,614 |
| Related organizations | $395,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,999,293 |
| Noncash contributions included in lines 1a–1f | $4,041,165 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,336,304 |
| Total Program Service Revenue | $0 |
| Investment income | $7,878,155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,505 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$230,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,002,719 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,457,641 |
| 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. | $3,024,681 |
| Compensation of current officers, directors, key employees. | $604,936 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,472,084 |
| Pension plan accruals and contributions | $1,024,400 |
| Other employee benefits | $693,962 |
| Payroll taxes | $396,315 |
| Fees for services: Management | $539,573 |
| Fees for services: Legal | $13,607 |
| Fees for services: Accounting | $178,645 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,015,275 |
| Fees for services: Other | $0 |
| Advertising and promotion | $669,693 |
| Office expenses | $699,503 |
| Information technology | $693,555 |
| Royalties | $0 |
| Occupancy | $324,388 |
| Travel | $75,916 |
| 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 | $0 |
| All other expenses | $1,222,246 |
| Total functional expenses | $57,501,484 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,432,474 |
| Savings and temporary cash investments | $113,374,137 |
| Pledges and grants receivable | $117,954,286 |
| Accounts receivable, net | $212,750 |
| 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 | $555,909 |
| Net Land, buildings, and equipment | $802,957 |
| Investments—publicly traded securities | $74,189,384 |
| Investments—other securities | $211,520,001 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $225 |
| Total assets | $543,042,123 |
| Accounts payable and accrued expenses | $13,052,622 |
| 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 | $7,702,134 |
| Total liabilities | $20,754,756 |
| Net assets without donor restrictions | $133,136,727 |
| Net assets with donor restrictions | $389,150,640 |
| 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 | $543,042,123 |
Grants Awarded
Over the last fiscal year, Hoag Hospital Foundation has awarded $40,457,641 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HOAG CLINIC PURPOSE: PROGRAMS AND EQUIPMENT | $2,120,294 |
HOAG MEMORIAL HOSPITAL PRESBYTERIAN PURPOSE: PROGRAMS AND EQUIPMENT | $36,429,247 |
JW PSYCHOLOGICAL SERVICE INC PURPOSE: TEEN BRAIN SUPPORT | $120,000 |
HOAG CHARITY SPORTS PURPOSE: PROGRAMS AND EQUIPMENT | $500,000 |
THE COUNCIL ON AGING PURPOSE: PROGRAMS AND EQUIPMENT | $6,250 |
HOAG ORTHOPEDIC EDUCATION PURPOSE: ORTHOPEDIC RESEARCH | $1,281,850 |