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← HEALTH MINISTRY FELLOWS ENDOWMENT

Form 990 for tax year 2022

Filed by HEALTH MINISTRY FELLOWS ENDOWMENT.

Totals

Total revenue
$1,081,021
Total expenses
$2,010,744
Contributions and grants received
$10,955
Grants paid
$1,776,598
Program service revenue
$0
Investment income
$1,070,066
Other revenue
$0
Total assets, end of year
$36,719,245
Total liabilities, end of year
$11,332
Net assets or fund balances, end of year
$36,707,913
Program services expenses (Part IX)
$1,776,598
Management and general expenses
$234,146
Fundraising expenses
$0
Program service expenses (Part III)
$1,776,598

Program services were 88.4% 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.

  • 1f · All other contributions, gifts and grants

    $10,955

  • 3 · Investment income

    total $1,063,545 · excluded $1,063,545

  • 7a · Gross sales of assets other than inventory

    securities $6,286,410

  • 7b · Less cost or other basis and sales expenses

    securities $6,279,889

  • 7c · Gain or loss

    securities $6,521

  • 7d · Net gain or loss

    total $6,521 · excluded $6,521

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,776,598 · program services $1,776,598

  • 11g · Fees: other

    total $21,905 · management and general $21,905

  • 13 · Office expenses

    total $11,964 · management and general $11,964

  • 16 · Occupancy

    total $12,720 · management and general $12,720

  • 17 · Travel

    total $1,096 · management and general $1,096

  • 24a · Other expenses: INVESTMENT FEES

    total $141,171 · management and general $141,171

  • 24b · Other expenses: LEASED EMPLOYEES

    total $42,659 · management and general $42,659

  • 24c · Other expenses: MEALS & ENTERTAINMENT

    total $2,576 · management and general $2,576

  • 24d · Other expenses: BANK CHARGES

    total $55 · management and general $55

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $543,240 · end of year $66,250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,016,166 · end of year $1,014,638

  • 11 · Investments: publicly traded securities

    beginning of year $33,728,737 · end of year $35,638,357

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,651 · end of year $11,332

  • 27 · Net assets without donor restrictions

    beginning of year $2,736,777 · end of year $1,438,437

  • 28 · Net assets with donor restrictions

    beginning of year $32,541,715 · end of year $35,269,476

Mission and programs · 2022

Mission

THE HEALTH MINISTRY FELLOWS ENDOWMENT ORGANIZATION'S SOLE AND SPECIFIC PURPOSE IS TO PROVIDE TUITION SUPPORT FOR A CADRE OF STUDENTS IN EACH ENTERING CLASS OF LOMA LINDA UNIVERSITY(LLU) SCHOOL OF MEDICINE (LLUSOM). STUDENTS THUS SELECTED SHALL BE KNOWN AS HEALTH MINISTRY FELLOWS.

Activities or mission (Part I)

THE HEALTH MINISTRY FELLOWS ENDOWMENT CORPORATION'S SOLE AND SPECIFIC PURPOSE IS TO PROVIDE TUITION SUPPORT FOR A CADRE OF STUDENTS IN EACH ENTERING CLASS OF LOMA LINDA UNIVERSITY(LLU) SCHOOL OF MEDICINE (LLUSOM). STUDENTS THUS SELECTED SHALL BE KNOWN AS HEALTH MINISTRY FELLOWS.

  • IN FURTHERANCE OF THE ORGANIZATION'S MISSION STATEMENT, THE ORGANIZATION SHALL IDENTIFY AND PROVIDE SCHOLARSHIP SUPPORT TO SELECTED STUDENTS OF LOMA LINDA UNIVERSITY SCHOOL OF MEDICINE (LLLUSOM). STUDENTS THUS SELECTED SHALL BE KNOWN AS HEALTH MINISTRY FELLOWS. IN FURTHERANCE OF SAID MISSION, THE ORGANIZATION SHALL IDENTIFY AND PROVIDE SCHOLARSHIP SUPPORT TO THE FOLLOWING: (1) SEVENTH-DAY ADVENTIST MEDICAL STUDENTS AT THE "LLUSOM" WHO SHOW PROMISE AS FUTURE FACULTY MEMBERS OF LLUSOM; (2) SEVENTH-DAY ADVENTIST MEDICAL STUDENTS OF THE "LLUSOM" WHO SHOW PROMISE FOR SERVICE IN HOSPITALS AFFILIATED WITH THE SEVENTH-DAY ADVENTIST CHURCH AROUND THE WORLD; AND, (3) SEVENTH-DAY ADVENTIST MEDICAL STUDENTS OF THE "LLUSOM" WHO SHOW PROMISE AS CHRISTIAN PHYSICIANS AND SURGEONS IN COMMUNITY PRACTICES. FOR THE YEAR ENDED JUNE 30, 2023 THE ORGANIZATION AWARDED THE FOLLOWING TUITION ASSISTANCE GRANTS: EIGHT(8) FRESHMAN MEDICAL STUDENTS TUITION ASSISTANCE GRANTS TO FUND THE SECOND HALF OF THEIR FRESHMAN MEDICAL YEAR AT "LLUSOM", EIGHT(8) SOPHOMORE , SEVEN(7) JUNIOR AND EIGHT(8) SENIOR MEDICAL STUDENTS TUITION ASSISTANCE GRANTS TO FUND THEIR TUITION AND FEES AT "LLUSOM".

    Expenses $1,776,598 · Grants $1,776,598

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Roger Hadley MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Sarah Roddy MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Beverly Rigsby

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Hart MD

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Tamara Thomas MD

    EX-OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Donald Pursley Dba

    PRESIDENT

    Total calculated
    $0
    Hours/week
    6

  • Paul Herrmann MD PhD

    SECRETARY

    Total calculated
    $0
    Hours/week
    6

  • Alice Wongworawat MBA

    CHIEF FINANCIAL OFFICER

    Total calculated
    $0
    Hours/week
    1.5

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202333469349300848

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