Memorial Clinics INC FY2021 filing

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To aid and assist hospital and healthcare organizations in the field of medical education and research for the improvement of medical care in the community.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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 $26K a year · 35% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
6 mo
of spending, in cash
Plus $1.3M in investments, Pt X · Ln 11–13
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$114K
+147% vs prior year
Spent
$88K
To programs
75%
Net assets
$1.4M
By yearFY2020–FY2024
Revenue
$114K
FY2021▲ +147%
Tap a bar for its year
Revenue by fiscal year
FY2020$46K
FY2021$114K
FY2022$32K
FY2023$65K
FY2024$112K
Expenses
$88K
FY2021▼ -42%
Tap a bar for its year
Expenses by fiscal year
FY2020$153K
FY2021$88K
FY2022$92K
FY2023$79K
FY2024$86K
Net assets
$1.4M
FY2021▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.4M
FY2022$1.2M
FY2023$1.2M
FY2024$1.3M

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 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 Jul 1969.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $67K Management & general 25% · $22K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
See Memorial Clinics INC executive salaries →

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

Supports hospitals and healthcare groups with medical education and research to improve community care.

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2 programs · $67K · in their own filed words · FY2021
01

Medical education facility development

$66Kprogram expense
02

To support the american cancer society

$1Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $374K · 2020–2024
Touro Infirmary FoundationLA · FY2024$57,000
Touro Infirmary FoundationLA · FY2023$57,285
Touro Infirmary FoundationLA · FY2022$68,973
Touro Infirmary FoundationLA · FY2021$65,690
Touro Infirmary FoundationLA · FY2020$125,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$114K
Ln 12
Investment incomeLn 3$114K
Money outPt IX
$88K
Ln 25
Programscol B$67K
Managementcol C$22K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$46K
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$114K
Gains on assetsLn 7$84K
Total revenueLn 12$114K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$46K
Cash and savings togetherLn 1–2$46K
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.4M
LiabilitiesLn 26$0
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$23K$46K
InvestmentsLn 11–13$1.3M$1.3M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.3M$1.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.3M$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$67K$67K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$459$459
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$20K$20K
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$1K$1K
All other expensesLn 24e$0
Total functional expensesLn 25$88K$67K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 14, 2025 $112K$86K$25K$1.3M 990 PDF
FY2023Filed with the IRS Jul 18, 2024 $65K$79K−$15K$1.2M 990 PDF
FY2022Filed with the IRS Jan 29, 2024 $32K$92K−$59K$1.2M 990 PDF
FY2021 ViewingFiled with the IRS Nov 16, 2022 $114K$88K$26K$1.4M 990 PDF
FY2020Filed with the IRS Feb 15, 2022 $46K$153K−$107K$1.3M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $114,097 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $46,244$114,097
I-11 Other revenue$0
I-12 Total revenuePrior year $46,244$114,097
I-13 Grants and similar amounts paidPrior year $125,000$66,690
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $28,271$21,742
I-18 Total expensesPrior year $153,271$88,432
I-19 Revenue less expensesPrior year −$107,027$25,665
Part VI · Governance 0 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $114,097 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-3 Investment incomeExcluded from tax $30,316$30,316
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$5,811 · Excluded from tax $89,592$83,781
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission −$5,811 · Excluded from tax $119,908$114,097
Part IX · Statement of functional expenses $88,432 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $66,690$66,690
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesManagement $459$459
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management feesManagement $20,028$20,028
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Management $1,255$1,255
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $66,690 · Management $21,742 · Fundraising $0$88,432
Part X · Balance sheet $1,378,456 assets, 16 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $22,717$46,041
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $1,309,978$1,332,415
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,332,695$1,378,456
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,332,695$1,378,456
X-33 Total liabilities and net assetsStart of year $1,332,695$1,378,456
Part XI · Reconciliation of net assets $1,378,456 net assets at year end
XI-1 Total revenue$114,097
XI-2 Total expenses$88,432
XI-3 Revenue less expenses$25,665
XI-4 Net assets at start of year$1,332,695
XI-5 Net unrealized gains (losses) on investments$20,096
XI-10 Net assets at end of year$1,378,456

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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