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Memorial Foundation INC FY2020 filing

Tax-deductible

Hollywood, FL501(c)(3)Since 1981EIN 59-2082218Revenue $3.7M in FY2020

On file with the IRSmhsfoundation.org3329 Johnson St, 33021-5419 · Hollywood, FLTax-exempt since May 1981Publicly supported charity — 170(b)(1)(A)(vi)

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Memorial Foundation was established in 1981 to provide philanthropic support to Memorial Healthcare System whose mission is to heal the body, mind, and spirit of those we touch. Every donation received helps to ensure that quality, cost effective, patient-and-family focused health care is provided to all, regardless of ability to pay.During the fiscal year the Foundation funded capital projects, various programs and provided support to patients and families.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $634K a year · 13% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
72 mo
of spending, in cash
Looks good: 72.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $45K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
38
of 38 voting members
Looks good: 38 of 38 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.7M
Spent
$4.0M
To programs
92%
Net assets
$25.3M
By yearFY2020–FY2024
Revenue
$3.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.7M
FY2021$5.1M
FY2022$3.5M
FY2023$5.3M
FY2024$6.9M
Expenses
$4.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$4.0M
FY2021$2.4M
FY2022$2.4M
FY2023$8.3M
FY2024$10.7M
Net assets
$25.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$25.3M
FY2021$31.1M
FY2022$32.4M
FY2023$36.8M
FY2024$54.2M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1981.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $3.7M Management & general 6% · $255K Fundraising 2% · $65K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

39 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Thomas R Oliveri
Immediate Past Chairman
$0Pt VII · Sec A
R Doug Gawrych
1st Vice Chairman
$0Pt VII · Sec A
Brett Rose
2nd Vice Chairman
$0Pt VII · Sec A
Elden Legaux
Treasurer
$0Pt VII · Sec A
Carl Schuster
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Beth Ann Krimsky
At Large Member
$0Pt VII · Sec A
See Memorial Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Raises philanthropic funds to support Memorial Healthcare System in providing quality, compassionate healthcare and financial assistance to patients, regardless of their ability to pay.

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Provided by the organization

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3 programs · $3.7M · in their own filed words · FY2020
01

Provide funding for educational, therapeutic and recreational activities to patients of south broward hospital district.

$3.0Mprogram expense
02

Provide funding to south broward hospital district to purchase medical equipment and make renovations.

$549Kprogram expense
03

Provide funding for healthcare services for medical research.

$112Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Florida Heart Research Foundation INCFY2025$20K
The Ayco Charitable FoundationFY2025$10K
Not My Daughter INCFY2025$10K
Pledge the Pink FoundationFY2025$5K
Total grants receivedfrom 4 funders$45K
See all 4 funders →
Grants paid · 10 grants · $25.5M · 2020–2024
South Broward Hospital DistrictFL · FY2024$9,969,530
Unitemized GrantFY2024$217,614
South Broward Hospital DistrictFL · FY2023$7,560,130
Unitemized GrantFY2023$196,195
South Broward Hospital DistrictFL · FY2022$1,721,177
Unitemized GrantFY2022$133,266
South Broward Hospital DistrictFL · FY2021$1,981,753
Unitemized GrantFY2021$62,260
South Broward Hospital DistrictFL · FY2020$3,665,226
Unitemized GrantFY2020$30,183

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.7M
Ln 12
Gifts and grantsLn 1h$3.1M
Investment incomeLn 3$600K
Money outPt IX
$4.0M
Ln 25
Programscol B$3.7M
Managementcol C$255K
Fundraisingcol D$65K
Owns and owesPt X
$25.3M
net assets · Ln 32
Cash and savingsLn 1–2$24.2M
Total assetsLn 16$26.4M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
39
listed · VII A
PaidVII A0
Voting boardVI 1a38
IndependentVI 1b38
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.1M
Noncash giftsLn 1g$208K
Fundraising eventsLn 1c$142K
Investment incomeLn 3$600K
Gains on assetsLn 7$333K
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
CashLn 1$1.1M
SavingsLn 2$23.2M
Cash and savings togetherLn 1–2$24.2M
InvestmentsLn 11–13$446K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$3K
Total assetsLn 16$26.4M
LiabilitiesLn 26$1.1M
Net assetsLn 32$25.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$1.5M$24.2M
InvestmentsLn 11–13$18.9M$446K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$22.9M$26.4M
LiabilitiesLn 26$944K$1.1M
Net assetsLn 32$22.0M$25.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3.7M$3.7M
Grants to domestic individualsLn 2$30K$30K
Accounting feesLn 11c$4K$4K
Investment management feesLn 11f$66K$66K
Other fees for servicesLn 11g$146K$135K$11K
Office expensesLn 13$96K$42K$54K
TravelLn 17$1K$1K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$4.0M$3.7M$255K$65K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.9M$10.7M−$3.8M$54.2M 990 PDF
FY2023 $5.3M$8.3M−$3.0M$36.8M 990 PDF
FY2022 $3.5M$2.4M$1.2M$32.4M 990 PDF
FY2021 $5.1M$2.4M$2.7M$31.1M 990 PDF
FY2020 Viewing $3.7M$4.0M−$307K$25.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $3,708,262 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,995,890$3,118,811
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $320,031$600,268
I-11 Other revenuePrior year $33,283−$10,817
I-12 Total revenuePrior year $2,349,204$3,708,262
I-13 Grants and similar amounts paidPrior year $3,814,826$3,695,409
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $354,110$319,697
I-18 Total expensesPrior year $4,168,936$4,015,106
I-19 Revenue less expensesPrior year −$1,819,732−$306,844
Part VI · Governance 38 of 38 board members independent, 2 to look at
VI-1a Voting members of the governing body38
VI-1b Independent voting members38
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,708,262 across 9 lines filed
VIII-1a Federated campaigns$128,506
VIII-1c Fundraising events$142,435
VIII-1f All other contributions, gifts and grants$2,847,870
VIII-1g Noncash contributions (included above)$207,888
VIII-1h Total contributions, gifts and grants$3,118,811
VIII-3 Investment incomeExcluded from tax $267,605$267,605
VIII-7 Net gain or loss on sales of assetsExcluded from tax $332,663$332,663
VIII-8 Net income from fundraising eventsExcluded from tax −$10,817−$10,817
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $589,451$3,708,262
Part IX · Statement of functional expenses $4,015,106 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $3,665,226$3,665,226
IX-2 Grants to domestic individualsPrograms $30,183$30,183
IX-11c Accounting feesManagement $4,095$4,095
IX-11f Investment management feesManagement $65,754$65,754
IX-11g Other fees for servicesManagement $134,918 · Fundraising $11,304$146,222
IX-13 Office expensesManagement $42,108 · Fundraising $53,817$95,925
IX-17 TravelManagement $1,056$1,056
IX-24 Other expenses (24a–d)Management $6,645$6,645
IX-25 Total functional expensesPrograms $3,695,409 · Management $254,576 · Fundraising $65,121$4,015,106
Part X · Balance sheet $26,388,498 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,366,811$1,075,391
X-2 Savings and temporary cash investmentsStart of year $108,912$23,153,834
X-3 Pledges and grants receivableStart of year $2,484,222$1,688,084
X-9 Prepaid expenses and deferred chargesStart of year $11,168$22,441
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $18,938,005$445,566
X-15 Other assetsStart of year $9,660$3,182
X-16 Total assetsStart of year $22,918,778$26,388,498
X-17 Accounts payable and accrued expensesStart of year $369,242$219,961
X-25 Other liabilitiesStart of year $575,067$841,565
X-26 Total liabilitiesStart of year $944,309$1,061,526
X-27 Net assets without donor restrictionsStart of year $8,044,225$10,764,780
X-28 Net assets with donor restrictionsStart of year $13,930,244$14,562,192
X-32 Total net assets or fund balancesStart of year $21,974,469$25,326,972
X-33 Total liabilities and net assetsStart of year $22,918,778$26,388,498
Part XI · Reconciliation of net assets $25,326,972 net assets at year end
XI-1 Total revenue$3,708,262
XI-2 Total expenses$4,015,106
XI-3 Revenue less expenses−$306,844
XI-4 Net assets at start of year$21,974,469
XI-5 Net unrealized gains (losses) on investments$21,347
XI-9 Other changes in net assets$3,638,000
XI-10 Net assets at end of year$25,326,972

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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