Totals
- Total revenue
- $1,968,965
- Total expenses
- $2,957,284
- Contributions and grants received
- $0
- Grants paid
- $1,000,000
- Program service revenue
- $0
- Investment income
- $25,153
- Other revenue
- $1,943,812
- Total assets, end of year
- $5,314,632
- Total liabilities, end of year
- $102,058
- Net assets or fund balances, end of year
- $5,212,574
- Program services expenses (Part IX)
- $1,000,000
- Management and general expenses
- $1,957,284
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,000,000
Program services were 33.8% 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.
-
3 · Investment income
total $25,153 · excluded $25,153
-
5 · Royalties
total $717,935 · excluded $717,935
-
11a · Other revenue: OIL & GAS REVENUE
total $1,225,877 · unrelated business $1,225,877
-
11e · Other revenue, total
$1,225,877
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,000,000 · program services $1,000,000
-
11b · Fees: legal
total $5,280 · management and general $5,280
-
11c · Fees: accounting
total $40,634 · management and general $40,634
-
11f · Fees: investment management
total $117,893 · management and general $117,893
-
15 · Royalties
total $37,800 · management and general $37,800
-
22 · Depreciation, depletion and amortization
total $1,092,840 · management and general $1,092,840
-
23 · Insurance
total $10,109 · management and general $10,109
-
24a · Other expenses: MINERAL EXPENSE
total $617,812 · management and general $617,812
-
24b · Other expenses: UNRELATED BUSINESS INCO
total $34,916 · management and general $34,916
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,241,988 · end of year $1,304,354
-
2 · Savings and temporary cash investments
beginning of year $427,898 · end of year $399,786
-
4 · Accounts receivable
beginning of year $292,022 · end of year $398,090
-
9 · Prepaid expenses and deferred charges
beginning of year $1,679 · end of year $1,686
-
10a · Land, buildings and equipment: cost or other basis
$1,262,726
-
10b · Land, buildings and equipment: accumulated depreciation
$999,424
-
10c · Land, buildings and equipment, net
beginning of year $353,497 · end of year $263,302
-
15 · Other assets
beginning of year $4,051,447 · end of year $2,947,414
-
17 · Accounts payable and accrued expenses
beginning of year $28,532 · end of year $29,453
-
25 · Other liabilities
beginning of year $139,106 · end of year $72,605
-
27 · Net assets without donor restrictions
beginning of year $368,505 · end of year $302,719
-
28 · Net assets with donor restrictions
beginning of year $5,832,388 · end of year $4,909,855
Mission and programs · 2024
Mission
SWMF PROPERTIES, INC. ACQUIRES, RECEIVES, HOLDS, MAINTAINS AND MANAGES REAL AND PERSONAL PROPERTY DONATIONS FOR THE BENEFIT OF SOUTHWESTERN MEDICAL FOUNDATION. THE ORGANIZATION'S CORPORATE PROPERTY IS USED TO SUPPORT THE CHARITABLE PURPOSES OF SOUTHWESTERN MEDICAL FOUNDATION.
-
TO ASSIST SOUTHWESTERN MEDICAL FOUNDATION IN THE STUDY OF CAUSES, PREVENTION, AND CURE OF DISEASES OF THE MINDS AND BODIES OF PERSONS: THE STUDY OF INDIVIDUAL AND COMMUNITY HYGIENE, AND TO PROMOTE PUBLIC HEALTH AND MEDICAL RESEARCH.
Expenses $1,000,000 · Grants $1,000,000
As filed on the 2024 return.
Listed in Part VII
-
DAVID CORRIGAN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.25 + 0.25 related
-
TUCKER BRIDWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
LELAND BURK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25 + 0.25 related
-
JOHN B POSTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
KIP TINDELL III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25 + 0.25 related
-
DAVID MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
KYLE MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
JOHN POSTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.25
-
MICHAEL MCMAHAN
PRESIDENT & CEO
- Total calculated
- $520,322
- From this org
- $0
- From related orgs
- $459,217
- Other
- $61,105
- Hours/week
- 0.25 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $411,910 related
- Bonus
- $0 + $47,307 related
- Other
- $0
- Deferred
- $0 + $46,000 related
- Nontaxable benefits
- $0 + $15,105 related
- Filer's total
- $0 + $520,322 related
-
SARAH FLETCHER
CFO
- Total calculated
- $290,735
- From this org
- $0
- From related orgs
- $262,000
- Other
- $28,735
- Hours/week
- 0.25 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $259,000 related
- Bonus
- $0 + $3,000 related
- Other
- $0
- Deferred
- $0 + $26,300 related
- Nontaxable benefits
- $0 + $2,435 related
- Filer's total
- $0 + $290,735 related
-
EMILY DAVIS
CORPORATE SECRETARY
- Total calculated
- $180,937
- From this org
- $0
- From related orgs
- $150,442
- Other
- $30,495
- Hours/week
- 0.25 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $144,442 related
- Bonus
- $0 + $6,000 related
- Other
- $0
- Deferred
- $0 + $21,583 related
- Nontaxable benefits
- $0 + $8,912 related
- Filer's total
- $0 + $180,937 related
-
TRAE HOLMES
MANAGING DIRECTOR OF ACCOUNTING
- Total calculated
- $198,746
- From this org
- $0
- From related orgs
- $171,865
- Other
- $26,881
- Hours/week
- 0.25 + 30 related
Schedule J breakdown matched by us
- Base
- $0 + $164,365 related
- Bonus
- $0 + $7,500 related
- Other
- $0
- Deferred
- $0 + $12,075 related
- Nontaxable benefits
- $0 + $14,806 related
- Filer's total
- $0 + $198,746 related
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 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
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
-
SOUTHWESTERN MEDICAL FOUNDATION
$1,000,000
TO ASSIST IN THE STUDY OF CAUSES, PREVENTION, AND CURE OF DISEASES.
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.
-
SOUTHWESTERN MEDICAL FOUNDATION
501(C)(3) · TO ADVANCE MEDICAL RESEARCH, EDUCATION, PATIENT CARE, PRIMARILY AT UTSW. · TX
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533219349310893
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