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← LSU HEALTH FOUNDATION NEW ORLEANS

Form 990 for tax year 2023

Filed by LSU HEALTH FOUNDATION NEW ORLEANS.

Totals

Total revenue
$17,391,097
Total expenses
$18,416,853
Contributions and grants received
$11,359,861
Grants paid
$10,853,151
Program service revenue
$3,818,046
Investment income
$1,766,317
Other revenue
$446,873
Total assets, end of year
$208,487,526
Total liabilities, end of year
$43,803,305
Net assets or fund balances, end of year
$164,684,221
Program services expenses (Part IX)
$14,703,601
Management and general expenses
$1,889,011
Fundraising expenses
$1,824,241
Program service expenses (Part III)
$14,703,601

Program services were 79.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $552,794

  • 1f · All other contributions, gifts and grants

    $10,807,067

  • 1g · Noncash contributions included above

    $6,138,779

  • 2a · Program service revenue: FEES & CONTRACTS GOV. AGENCIES

    total $3,818,001 · related or exempt $3,818,001

  • 2b · Program service revenue: FITNESS CENTER REVENUE

    total $45 · related or exempt $45

  • 3 · Investment income

    total $1,766,317 · excluded $1,766,317

  • 6a · Gross rents

    real property $922,175

  • 6b · Less rental expenses

    real property $292,260

  • 6c · Rental income or loss

    real property $629,915

  • 6d · Net rental income or loss

    total $629,915 · unrelated business -$28,463 · excluded $658,378

  • 8a · Fundraising events: gross income

    $147,946

  • 8a · Fundraising events: contributions included on line 1c

    $552,794

  • 8b · Fundraising events: direct expenses

    $206,709

  • 8c · Net income from fundraising events

    total -$58,763 · excluded -$58,763

  • 11a · Other revenue: SALES TAX REFUND

    total $7,063 · excluded $7,063

  • 11b · Other revenue: REFUNDS/REIMBURSEMENTS

    total $6,548 · related or exempt $6,548

  • 11c · Other revenue: UBI FROM PASSTHROUGH INVESTMENTS

    total -$137,890 · unrelated business -$137,890

  • 11e · Other revenue, total

    -$124,279

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,197,958 · program services $10,197,958

  • 2 · Grants to domestic individuals

    total $655,193 · program services $655,193

  • 5 · Compensation of officers, directors and key employees

    total $885,260 · program services $175,211 · management and general $499,531 · fundraising $210,518

  • 7 · Other salaries and wages

    total $972,284 · program services $250 · management and general $194,242 · fundraising $777,792

  • 8 · Pension plan contributions

    total $55,532 · management and general $22,616 · fundraising $32,916

  • 9 · Other employee benefits

    total $120,281 · management and general $53,228 · fundraising $67,053

  • 10 · Payroll taxes

    total $142,683 · program services $12,011 · management and general $54,682 · fundraising $75,990

  • 11b · Fees: legal

    total $54,080 · program services $31,667 · management and general $22,279 · fundraising $134

  • 11c · Fees: accounting

    total $71,921 · management and general $71,921

  • 11d · Fees: lobbying

    total $53,991 · program services $27,747 · management and general $26,244

  • 11f · Fees: investment management

    total $3,856,520 · program services $3,820,400 · management and general $36,120

  • 11g · Fees: other

    total $367,339 · management and general $185,249 · fundraising $182,090

  • 12 · Advertising and promotion

    total -$15 · fundraising -$15

  • 13 · Office expenses

    total $221,491 · program services $1,776 · management and general $51,198 · fundraising $168,517

  • 14 · Information technology

    total $20,141 · management and general $4,517 · fundraising $15,624

  • 16 · Occupancy

    total $525,048 · program services $142,174 · management and general $382,771 · fundraising $103

  • 17 · Travel

    total $72,665 · program services $659 · management and general $19,948 · fundraising $52,058

  • 19 · Conferences, conventions and meetings

    total $3,236 · management and general $3,236

  • 22 · Depreciation, depletion and amortization

    total $251,059 · management and general $251,059

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $214,374 · program services $170 · management and general $5,098 · fundraising $209,106

  • 24b · Other expenses: COMMUNITY SUPPORT

    total $26,013 · program services $450 · management and general $566 · fundraising $24,997

  • 24c · Other expenses: STEWARDSHIP

    total $6,318 · fundraising $6,318

  • 24d · Other expenses: EQUIPMENT PURCHASES AND

    total $3,698 · management and general $3,698

  • 24e · All other expenses

    total -$360,217 · program services -$362,065 · management and general $808 · fundraising $1,040

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,434,225 · end of year $1,898,990

  • 2 · Savings and temporary cash investments

    beginning of year $2,815,252 · end of year $5,704,631

  • 3 · Pledges and grants receivable

    beginning of year $2,810,500 · end of year $2,422,058

  • 4 · Accounts receivable

    beginning of year $274,150 · end of year $359,084

  • 9 · Prepaid expenses and deferred charges

    beginning of year $154,724 · end of year $172,652

  • 10a · Land, buildings and equipment: cost or other basis

    $27,863,684

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,603,970

  • 10c · Land, buildings and equipment, net

    beginning of year $25,262,101 · end of year $25,259,714

  • 11 · Investments: publicly traded securities

    beginning of year $111,907,676 · end of year $119,372,366

  • 12 · Investments: other securities

    beginning of year $52,889,878 · end of year $52,969,170

  • 15 · Other assets

    beginning of year $541,829 · end of year $328,861

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,579,779 · end of year $939,373

  • 21 · Escrow or custodial account liability

    beginning of year $33,465,486 · end of year $35,089,069

  • 23 · Secured mortgages and notes payable

    beginning of year $4,478,105 · end of year $4,369,048

  • 24 · Unsecured notes and loans payable

    beginning of year $2,896,000 · end of year $2,896,000

  • 25 · Other liabilities

    beginning of year $715,967 · end of year $509,815

  • 27 · Net assets without donor restrictions

    beginning of year $18,601,236 · end of year $20,380,097

  • 28 · Net assets with donor restrictions

    beginning of year $136,353,762 · end of year $144,304,124

Mission and programs · 2023

Mission

THE MISSION OF THE FOUNDATION IS TO INSPIRE DONORS TO INVEST IN THE LSU HEALTH SCIENCES CENTER - NEW ORLEANS ("HSC-NO") AND ITS FUTURE, TO PROPERLY STEWARD THOSE CONTRIBUTIONS, AND TO HELP MEET THE EVER EVOLVING NEEDS OF THE LSUHSC-NO BY PROVIDING NEW (CONT'D ON SCH O) PHILANTHROPIC AND BUSINESS RESOURCES, PARTNERSHIPS, PROGRAMS, REAL ESTATE AND PROPERTY LEASES, AUXILIARY BUSINESSES, AND OTHER SERVICES THAT SUPPORT AND STRENGTHEN THE EDUCATIONAL AND COMMUNITY MISSION OF THE LSU HEALTH SCIENCES CENTER - NEW ORLEANS.

Activities or mission (Part I)

TO INSPIRE DONORS TO INVEST IN THE LSU HEALTH SCIENCES CENTER - NEW ORLEANS AND ITS FUTURE.

  • ENHANCING THE MISSION OF THE LOUISIANA STATE UNIVERSITY HEALTH SCIENCES CENTER IN NEW ORLEANS (LSUHSC-NO), WHICH WAS FOUNDED IN 1931, TO PROVIDE EDUCATION, RESEARCH, AND PUBLIC SERVICE THROUGH DIRECT PATIENT CARE AND COMMUNITY OUTREACH. LSUHSC-NO COMPRISES THE SCHOOLS OF ALLIED HEALTH PROFESSIONS, DENTISTRY, GRADUATE STUDIES, MEDICINE, NURSING, AND PUBLIC HEALTH, INCLUDING FOUR CENTERS OF EXCELLENCE AND THREE RESEARCH INSTITUTES. LSUHSC-NO EDUCATIONAL PROGRAMS PREPARE STUDENTS FOR CAREERS AS HEALTH CARE PROFESSIONALS AND SCIENTISTS. THE HEALTH SCIENCES CENTER DISSEMINATES AND ADVANCES KNOWLEDGE THROUGH STATE AND NATIONAL PROGRAMS OF BASIC AND CLINICAL RESEARCH, RESULTING IN PUBLICATIONS, TECHNOLOGY TRANSFER, AND RELATED ECONOMIC ENHANCEMENTS TO MEET THE CHANGING NEEDS OF THE STATE OF LOUISIANA AND THE NATION. LSUHSC-NO (CONT'D ON SCH. O) PROVIDES VITAL PUBLIC SERVICE THROUGH DIRECT PATIENT CARE, INCLUDING CARE OF INDIGENT AND UNINSURED PATIENTS. HEALTH CARE SERVICES ARE PROVIDED THROUGH LSUHSC-NO CLINICS IN ALLIED HEALTH, DENTISTRY, MEDICINE, NURSING, AND IN NUMEROUS AFFILIATED HOSPITALS AND CLINICS THROUGHOUT LOUISIANA. LSUHSC-NO PROVIDES REFERRAL SERVICES, CONTINUING EDUCATION, AND INFORMATION RELEVANT TO THE PUBLIC HEALTH OF THE CITIZENS OF LOUISIANA. IN ADDITION, LSUHSC-NO WORKS COOPERATIVELY WITH TWO AREA HEALTH EDUCATION CENTERS (AHECS), WHOSE PROGRAMS FOCUS ON IMPROVING THE NUMBER AND DISTRIBUTION OF HEALTH CARE PROVIDERS IN UNDERSERVED RURAL AND URBAN AREAS OF LOUISIANA AND ON SUPPORTING EXISTING RURAL HEALTH CARE PROVIDERS THROUGH CONTINUING EDUCATION PROGRAMS. LSUHSC-NO SERVES THE NEW ORLEANS COMMUNITY OF 376,971 CITIZENS LOCALLY AND 1,013,000 IN THE GREATER NEW ORLEANS REGION ALONG WITH SUPPORTING THE HEALTHCARE PROFESSION THROUGHOUT THE STATE OF LOUISIANA. LSUHSC-NO PROVIDES PATIENT CARE IN METROPOLITAN NEW ORLEANS, AS WELL AS BATON ROUGE AND LAFAYETTE WITH OVER 1,062,180 PATIENT VISITS ANNUALLY. CURRENTLY, ON AVERAGE 3,000 STUDENTS, 2,400 FACULTY AND STAFF, AND 1,000 RESIDENTS ARE SERVED BY THE FOUNDATION'S EFFORTS ACROSS ALL SCHOOLS IN SUPPORT OF THE LSUHSC-NO CAMPUS. IN A 2021-2022 ECONOMIC IMPACT STUDY, 4,320 DIRECT JOBS AND AN ADDITIONAL 4,798 JOBS ALONG WITH $1.6 BILLION IN ECONOMIC OUTPUT ARE EFFECTS OF THE LSUHSC-NO CAMPUS. IN SERVING THE LSUHSC-NO CAMPUS, THE FOUNDATION HAS ASSISTED IN PROVIDING VITAL CHAIRS, PROFESSORSHIPS, AWARDS AND SCHOLARSHIPS TO BOTH FACULTY, RESIDENTS, AND STUDENTS. THE FOUNDATION HOUSES APPROXIMATELY 1,500 RESTRICTED FUNDS MANAGED FOR THESE EFFORTS, INCLUDING THE SUPPORT OF 211 DIRECT SCHOLARSHIPS AND MORE THAN $33 MILLION IN RESEARCH FUNDING OVER THE PAST THREE YEARS AT LSUHSC-NO. IN ADDITION, THE FOUNDATION SERVES AS A MECHANISM FOR DONATIONS WITHOUT VALUE, INCLUDING ANATOMICAL GIFTS AND OTHER TYPES OF PROPERTY THAT ASSIST LSUHSC-NO IN PROVIDING EDUCATION TO ITS STUDENTS.

    Expenses $14,703,601 · Grants $10,853,151 · Revenue $3,824,594

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brian P Jakes Sr

    CHAIR (7/23 - 10/23)

    Total calculated
    $0
    Hours/week
    2

  • Warren L Gottsegen MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kristi M Soileau DDS Med Mshce

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Al Bienvenu

    CHAIR (11/230-06/24)

    Total calculated
    $0
    Hours/week
    2

  • Mark Juneau Jr MD

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Virginia Angelico-Tatum DDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • James A Caillier EdD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Linda Cao DDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Al Copeland Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jay C Dumas DMD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth B Grieshaber MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Karl E Hoefer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Edwin K Hunter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Eric L Laborde MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joseph N Macaluso Jr MD Facs

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cris Mandry MD Facep Faaem

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brian H Melius DVM

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Andre M Rubenstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Robert A Savoie PhD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lewis King Scott DDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • E Paige Sensenbrenner Esq

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Carroll W Suggs

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Najeeb M Thomas MD

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Lee Trumble

    VICE-PRESIDENT & CFO

    Total calculated
    $205,360
    From this org
    $177,990
    From related orgs
    $0
    Other
    $27,370
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,990
    Bonus
    $0
    Other
    $0
    Deferred
    $17,374
    Nontaxable benefits
    $9,996
    Filer's total
    $205,360

  • Alejandra Guzman

    CHIEF BUSINESS DEVELOPMENT OFFICER

    Total calculated
    $174,394
    From this org
    $160,000
    From related orgs
    $0
    Other
    $14,394
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $14,394
    Filer's total
    $174,394

  • Denise Delany

    DIRECTOR OF GRANTS

    Total calculated
    $115,947
    From this org
    $107,959
    From related orgs
    $0
    Other
    $7,988
    Hours/week
    40

  • Joseph Harness

    ACCOUNTING MANAGER

    Total calculated
    $127,489
    From this org
    $114,074
    From related orgs
    $0
    Other
    $13,415
    Hours/week
    40

  • Laurie Phillips

    ACCOUNTING MANAGER

    Total calculated
    $133,784
    From this org
    $111,204
    From related orgs
    $0
    Other
    $22,580
    Hours/week
    40

  • Matthew Altier

    FORMER PRESIDENT & CEO

    Total calculated
    $495,146
    From this org
    $450,183
    From related orgs
    $0
    Other
    $44,963
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $450,183
    Deferred
    $44,963
    Nontaxable benefits
    $0
    Filer's total
    $495,146

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
MATTHEW D. ALTIER RECEIVED A CONTRIBUTION TO HIS 457(F) PLAN OF $44,963 DURING THE CALENDAR YEAR 2023. MR. ALTIER ALSO RECIEVED A PAYMENT OF $269,839 FROM THE 457(F) PLAN DURING THE 2023 CALENDAR YEAR. MR. ALTIER RECEIVED SEVERANCE PAYMENTS TOTALING $180,344 DURING CALENDAR YEAR 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • LSU HEALTH SCIENCES CENTER - NEW ORLEANS

    $10,197,958

    LSUHSC-NO IS A SUPPORTED ORGANIZATION OF LSU HEALTH FOUNDATION, NEW ORLEANS.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • LSU HEALTH SCIENCES CENTER - NEW ORLEANS

    MEDICAL EDUCATION · LA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FOUNDATION ENTERPRISES LLC

    HOLDING COMPANY · LA · income $0 · assets -$3,556

    Directly controlled by LSU HEALTH FOUNDATION NEW ORLEANS

  • LSU HEALTH FITNESS LLC

    FITNESS CENTER · LA · income $7,108 · assets $213,879

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • 2126 TULANE LCC

    HOTEL PROJECT - REAL ESTATE · LA · income $0 · assets $3,111,830

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • 2127 POYDRAS STREET LLC

    STUDENT HOUSING PROJECT - REAL ESTATE · LA · income $1,000 · assets -$570,986

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • MV1 LLC

    MARINER'S VILLAGE PROJECT - REAL ESTATE · LA · income $0 · assets $6,901,772

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • 8890 QUARTERS LAKE ROAD LLC

    BR RETIREMENT VILLAGE - REAL ESTATE · LA · income $0 · assets -$461

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • HEALTH FOUNDATION ENTERPRISES LLC

    OTHER PASSIVE INCOME FROM LEASES/AGREEMENTS · LA · income $230,807 · assets $382,686

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • LSU HEALTH FOUNDATION PHARMACY SERVICES LLC

    PHARMACY PROJECT · LA · income $0 · assets $53,326

    Directly controlled by FOUNDATION ENTERPRISES LLC

  • LOUISIANA STUDENT WORKS

    LOUISIANA STUDENT WORKS, LLC · LA · income $0 · assets $11,627

    Directly controlled by FOUNDATION ENTERPRISES LLC

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202511359349314056

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