Osteopathic Founders Foundation FY2023 filing

Tax-deductible

Tulsa, OK501(c)(3)Diseases & DisordersEIN 73-0583936

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To improve the health and healthcare in northeast oklahoma through the support of Osteopathic medical education across the continuum of learning.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$188K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
3 of 5
filings with a surplus
Average surplus $522K a year · 34% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$188K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$805K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$948K
-34% vs prior year
Spent
$1.3M
To programs
77%
Net assets
$22.5M
By yearFY2020–FY2024
Revenue
$948K
FY2023▼ -34%
Revenue by fiscal year
FY2020$700K
FY2021$2.7M
FY2022$1.4M
FY2023$948K
FY2024$2.0M
Expenses
$1.3M
FY2023▲ +44%
Expenses by fiscal year
FY2020$819K
FY2021$943K
FY2022$935K
FY2023$1.3M
FY2024$1.1M
Net assets
$22.5M
FY2023▲ +9%
Net assets by fiscal year
FY2020$21.2M
FY2021$24.2M
FY2022$20.7M
FY2023$22.5M
FY2024$24.7M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Mar 1944.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $1.0M Management & general 20% · $267K Fundraising 3% · $40K

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

12 people listed on the 990; $188K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$187,500Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Sherri L Wise’s $187K as President/CEO is at the 71st percentile of top reported officer pay among 733 $1–10M diseases & disorders nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sherri L Wise$186,715$187,500$155,597$199,712$207,015
Mousumi Som DO———$12,000$10,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Osteopathic Founders Foundation 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 15aYes

Programs and updates

Supports osteopathic medical education to improve health and healthcare in Northeast Oklahoma.

Provided by the organization

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3 program services account for $1.0M of program spending, described in the organization's own filed words · FY2023.
01

Community grants are an important part of the work of the osteopathic founders foundation. Since the sale of our hospital in 1996, the foundation's trustees have focused on utilizing our resources in a manner consistent with the founder's original intent.

$491Kprogram expense
02

As stated in the mission statement, support of osteopathic medical education is central to the foundation's investments. At the pre-doctoral level, two scholarships are awarded to osteopathic medical students at oklahoma state university college of osteopathic medicine based on academic achievement, professional ambassadorship, and…

$369Kprogram expense
03

Heart disease is the leading cause of death for men and women of most racial and ethnic groups in the united states. In the us, someone will suffer a heart attack every 40 seconds. Annually, more than 805,000 people in this county have a heart attack with more than 600,000 of those being a first heart attack.

$181Kprogram expense

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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 · FY2023
Total grants receivedfrom 1 funder$1K
Grants paid · 35 grants · $715K · 2020–2024
Unitemized GrantFY2024$33,500
Tulsa CaresOK · FY2024$7,500
Youth Services of Tulsa INCFY2024$5,000
Kendall-Whittier INCOK · FY2024$5,000
Iron Gate INCOK · FY2024$5,000
Unitemized GrantFY2023$58,500
Unitemized GrantFY2023$29,853
La Cosecha INCOK · FY2023$10,000
Neighbors Along the LineOK · FY2023$5,000
Harvest House Outreach INCOK · FY2023$5,000
See all 35 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$948K
Ln 12
Investment incomeLn 3$590K
Gifts and grantsLn 1h$323K
Fees for servicesLn 2g$35K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$267K
Fundraisingcol D$40K
Owns and owesPt X
$22.5M
net assets · Ln 32
Cash and savingsLn 1–2$173K
Total assetsLn 16$23.3M
LiabilitiesLn 26$805K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$323K
Fees for servicesLn 2g$35K
Investment incomeLn 3$590K
Gains on assetsLn 7−$704
Total revenueLn 12$948K
Assets in detailPt X, end of year
CashLn 1$53K
SavingsLn 2$119K
Cash and savings togetherLn 1–2$173K
InvestmentsLn 11–13$22.9M
Land, buildings, equipmentLn 10c$12K
Other assetsLn 15$213K
Total assetsLn 16$23.3M
LiabilitiesLn 26$805K
Net assetsLn 32$22.5M
OperationsPt I, VI
EmployeesI 58
VolunteersI 615
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 FY23End FY23
Cash and savingsLn 1–2$168K$173K
InvestmentsLn 11–13$21.0M$22.9M
Land, buildings, equipmentLn 10c$15K$12K
Total assetsLn 16$21.5M$23.3M
LiabilitiesLn 26$799K$805K
Net assetsLn 32$20.7M$22.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$301K$301K
Grants to domestic individualsLn 2$184K$184K
Pay of current officers, directors and key staffLn 5$204K$155K$37K$11K
Other salaries and wagesLn 7$179K$136K$33K$10K
Pension plan contributionsLn 8$1K$1K$268$80
Other employee benefitsLn 9$17K$13K$3K$930
Payroll taxesLn 10$21K$16K$4K$1K
Accounting feesLn 11c$29K$22K$5K$2K
Investment management feesLn 11f$133K$133K
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$656$500$120$36
Office expensesLn 13$20K$15K$4K$1K
Information technologyLn 14$2K$1K$356$106
OccupancyLn 16$82K$62K$15K$4K
TravelLn 17$14K$10K$2K$745
Depreciation, depletion and amortizationLn 22$3K$2K$506$151
InsuranceLn 23$7K$5K$1K$377
Other expenses (24a–d)Ln 24$117K$89K$21K$6K
All other expensesLn 24e$34K$26K$6K$2K
Total functional expensesLn 25$1.3M$1.0M$267K$40K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.0M$1.1M$846K$24.7M 990 PDF
FY2023 Viewing $948K$1.3M−$400K$22.5M 990 PDF
FY2022 $1.4M$935K$499K$20.7M 990 PDF
FY2021 $2.7M$943K$1.8M$24.2M 990 PDF
FY2020 $700K$819K−$119K$21.2M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $947,879 across 7 lines filed
VIII-1b Membership dues$3,375
VIII-1f All other contributions, gifts and grants$319,745
VIII-1h Total contributions, gifts and grants$323,120
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $34,603$34,603
VIII-3 Investment incomeExcluded from tax $590,860$590,860
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$704−$704
VIII-12 Total revenueRelated to mission $34,603 · Unrelated business $0 · Excluded from tax $590,156$947,879
Part IX · Statement of functional expenses $1,347,702 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $301,166$301,166
IX-2 Grants to domestic individualsPrograms $184,381$184,381
IX-5 Pay of current officers, directors and key staffPrograms $155,190 · Management $37,353 · Fundraising $11,163$203,706
IX-7 Other salaries and wagesPrograms $136,376 · Management $32,825 · Fundraising $9,809$179,010
IX-8 Pension plan contributionsPrograms $1,112 · Management $268 · Fundraising $80$1,460
IX-9 Other employee benefitsPrograms $12,923 · Management $3,110 · Fundraising $930$16,963
IX-10 Payroll taxesPrograms $15,998 · Management $3,851 · Fundraising $1,151$21,000
IX-11c Accounting feesPrograms $21,971 · Management $5,288 · Fundraising $1,580$28,839
IX-11f Investment management feesManagement $132,804$132,804
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $500 · Management $120 · Fundraising $36$656
IX-13 Office expensesPrograms $15,098 · Management $3,634 · Fundraising $1,086$19,818
IX-14 Information technologyPrograms $1,479 · Management $356 · Fundraising $106$1,941
IX-16 OccupancyPrograms $62,307 · Management $14,997 · Fundraising $4,482$81,786
IX-17 TravelPrograms $10,353 · Management $2,492 · Fundraising $745$13,590
IX-22 Depreciation, depletion and amortizationPrograms $2,103 · Management $506 · Fundraising $151$2,760
IX-23 InsurancePrograms $5,237 · Management $1,260 · Fundraising $377$6,874
IX-24 Other expenses (24a–d)Programs $88,784 · Management $21,369 · Fundraising $6,387$116,540
IX-24e All other expensesPrograms $26,214 · Management $6,310 · Fundraising $1,884$34,408
IX-25 Total functional expensesPrograms $1,041,192 · Management $266,543 · Fundraising $39,967$1,347,702
Part X · Balance sheet $23,340,168 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $13,927$53,488
X-2 Savings and temporary cash investmentsStart of year $154,183$119,440
X-4 Accounts receivableStart of year $232$232
X-8 Inventories for sale or useStart of year $715$479
X-9 Prepaid expenses and deferred chargesStart of year $22,653$22,939
X-10c Land, buildings and equipment, netStart of year $14,811$12,050
X-11 Publicly traded securitiesStart of year $18,518,674$17,206,001
X-12 Other securitiesStart of year $2,511,926$5,712,529
X-15 Other assetsStart of year $286,042$213,010
X-16 Total assetsStart of year $21,523,163$23,340,168
X-17 Accounts payable and accrued expensesStart of year $246,792$178,970
X-18 Grants payableStart of year $31,000$29,000
X-19 Deferred revenueStart of year $0$500
X-25 Other liabilitiesStart of year $520,803$596,068
X-26 Total liabilitiesStart of year $798,595$804,538
X-27 Net assets without donor restrictionsStart of year $17,953,044$19,520,499
X-28 Net assets with donor restrictionsStart of year $2,771,524$3,015,131
X-32 Total net assets or fund balancesStart of year $20,724,568$22,535,630
X-33 Total liabilities and net assetsStart of year $21,523,163$23,340,168
Part XI · Reconciliation of net assets $22,535,630 net assets at year end
XI-1 Total revenue$947,879
XI-2 Total expenses$1,347,702
XI-3 Revenue less expenses−$399,823
XI-4 Net assets at start of year$20,724,568
XI-5 Net unrealized gains (losses) on investments$2,233,467
XI-9 Other changes in net assets−$22,582
XI-10 Net assets at end of year$22,535,630

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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