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Meadows New Foundation INC

Vidalia, GAUnknown exempt organizationEIN 86-1975495

Meadows new foundation, INC. (foundation) is a georgia nonprofit corporation organized and operated exclusively for the promotion of social welfare within the meaning of section 50l(c)(4) of the internal revenue code of 1986, as amended (the code) and consistent with the charitable purposes of code section 501(c)(3), or the corresponding provisions of any future federal tax code. The foundation received substantially all of the sales proceeds from the sale of the assets of meadows regional medical center, INC. To vidalia health service, LLC, an affiliate of hca healthcare as a grant from the seller. The funds are to be administered by the foundation pursuant to a grant agreement reviewed and approved by the internal revenue service and the state of georgia'a attorney general office. Distribution of funds will be made to other nonprofit organization which are tax exempt under code section 501(c)(3), in order to further the common good and general welfare of the community, including prom

40¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
4 of 4
filings with a surplus
Average surplus $1.3M a year · 86% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
40%
of spending
Concern: 40% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$16K
0.04% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
-31% vs prior year
Spent
$438K
To programs
40%
Net assets
$37.3M
By yearFY2021–FY2024
Revenue
$1.9M
FY2024▼ -31%
Revenue by fiscal year
FY2021$463K
FY2022$636K
FY2023$2.8M
FY2024$1.9M
Expenses
$438K
FY2024▲ +67%
Expenses by fiscal year
FY2021$21K
FY2022$79K
FY2023$262K
FY2024$438K
Net assets
$37.3M
FY2024▲ +16%
Net assets by fiscal year
FY2021$28.3M
FY2022$27.4M
FY2023$32.3M
FY2024$37.3M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

40 cents of each dollar spent went to programs.

Program services 40% · $175K Management & general 60% · $263K

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

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Dennis Ingley
Sec/Treasure
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Meadows New 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

Promotes social welfare using funds from a hospital asset sale.

Provided by the organization

This section is blank until Meadows New Foundation INC claims this page.

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1 program service account for $175K of program spending, described in the organization's own filed words · FY2024.
01

Meadows new foundation, inc. (foundation) is a georgia nonprofit corporation organized and operated exclusively for the promotion of social welfare within the meaning of section 50L(C)(4) of the internal revenue code of 1986, as amended (the code) and consistent with the charitable purposes of code section 501(c)(3), or the corresponding…

$175Kprogram 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 · this organization's grantmaking
Grants paid · 8 grants · $175K · 2024–2024
Southeast Georgia Rural Community Network INCGA · FY2024$35,000
Mercy Medical Clinic and Foundation INCGA · FY2024$35,000
Gardens of Hope Recovery Community Organization CorpGA · FY2024$25,000
Brewton Parker Christian University INCGA · FY2024$20,000
Southeast Georgia Communities Project INCGA · FY2024$15,000
Safe Kids of Georgia INCGA · FY2024$15,000
Rachels House Pregnancy Resource ClinicGA · FY2024$15,000
Emanuel County Child Abuse Prevention Center INCGA · FY2024$15,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Investment incomeLn 3$1.9M
Money outPt IX
$438K
Ln 25
Programscol B$175K
Managementcol C$263K
Owns and owesPt X
$37.3M
net assets · Ln 32
Cash and savingsLn 1–2$391K
Total assetsLn 16$37.3M
LiabilitiesLn 26$16K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$1.9M
Gains on assetsLn 7$585K
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
SavingsLn 2$391K
Cash and savings togetherLn 1–2$391K
InvestmentsLn 11–13$36.2M
Land, buildings, equipmentLn 10c$51K
Other assetsLn 15$621K
Total assetsLn 16$37.3M
LiabilitiesLn 26$16K
Net assetsLn 32$37.3M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.1M$391K
InvestmentsLn 11–13$26.3M$36.2M
Land, buildings, equipmentLn 10c$59K$51K
Total assetsLn 16$32.3M$37.3M
LiabilitiesLn 26$5K$16K
Net assetsLn 32$32.3M$37.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$175K$175K
Management feesLn 11a$62K$62K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$20K$20K
Investment management feesLn 11f$80K$80K
Advertising and promotionLn 12$425$425
Office expensesLn 13$13K$13K
Information technologyLn 14$12K$12K
OccupancyLn 16$32K$32K
Conferences, conventions and meetingsLn 19$22K$22K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$280$280
Total functional expensesLn 25$438K$175K$263K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.9M$438K$1.5M$37.3M 990 PDF
FY2023 $2.8M$262K$2.6M$32.3M 990 PDF
FY2022 $636K$79K$557K$27.4M 990 PDF
FY2021 $463K$21K$441K$28.3M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,940,274 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $1,354,967$1,354,967
VIII-7 Net gain or loss on sales of assetsExcluded from tax $585,307$585,307
VIII-12 Total revenueExcluded from tax $1,940,274$1,940,274
Part IX · Statement of functional expenses $437,832 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $175,000$175,000
IX-11a Management feesManagement $62,498$62,498
IX-11b Legal feesManagement $2,942$2,942
IX-11c Accounting feesManagement $19,500$19,500
IX-11f Investment management feesManagement $80,392$80,392
IX-12 Advertising and promotionManagement $425$425
IX-13 Office expensesManagement $12,882$12,882
IX-14 Information technologyManagement $11,856$11,856
IX-16 OccupancyManagement $32,383$32,383
IX-19 Conferences, conventions and meetingsManagement $22,398$22,398
IX-22 Depreciation, depletion and amortizationManagement $7,621$7,621
IX-23 InsuranceManagement $9,655$9,655
IX-24 Other expenses (24a–d)Management $280$280
IX-25 Total functional expensesPrograms $175,000 · Management $262,832 · Fundraising $0$437,832
Part X · Balance sheet $37,298,902 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,074,998$390,516
X-9 Prepaid expenses and deferred chargesStart of year $3,161$4,497
X-10c Land, buildings and equipment, netStart of year $58,790$51,169
X-11 Publicly traded securitiesStart of year $26,310,343$36,232,166
X-15 Other assetsStart of year $4,818,077$620,554
X-16 Total assetsStart of year $32,265,369$37,298,902
X-17 Accounts payable and accrued expensesStart of year $4,975$15,687
X-26 Total liabilitiesStart of year $4,975$15,687
X-27 Net assets without donor restrictionsStart of year $9,260,394$22,908,215
X-28 Net assets with donor restrictionsStart of year $23,000,000$14,375,000
X-32 Total net assets or fund balancesStart of year $32,260,394$37,283,215
X-33 Total liabilities and net assetsStart of year $32,265,369$37,298,902
Part XI · Reconciliation of net assets $37,283,215 net assets at year end
XI-1 Total revenue$1,940,274
XI-2 Total expenses$437,832
XI-3 Revenue less expenses$1,502,442
XI-4 Net assets at start of year$32,260,394
XI-5 Net unrealized gains (losses) on investments−$92,922
XI-9 Other changes in net assets$3,613,301
XI-10 Net assets at end of year$37,283,215

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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