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← WATSON CLINIC FOUNDATION INC

Form 990 for tax year 2023

Filed by WATSON CLINIC FOUNDATION INC.

Totals

Total revenue
$60,424
Total expenses
$159,417
Contributions and grants received
$60,424
Grants paid
$66,247
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$347,816
Total liabilities, end of year
$11,853
Net assets or fund balances, end of year
$335,963
Program services expenses (Part IX)
$151,854
Management and general expenses
$7,563
Fundraising expenses
$0
Program service expenses (Part III)
$151,854

Program services were 95.3% 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

    $60,424

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $65,997 · program services $65,997

  • 2 · Grants to domestic individuals

    total $250 · program services $250

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 11c · Fees: accounting

    total $7,294 · management and general $7,294

  • 11g · Fees: other

    total $500 · program services $500 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $8 · management and general $8

  • 13 · Office expenses

    total $5,706 · program services $5,706

  • 16 · Occupancy

    total $1,500 · program services $1,500

  • 17 · Travel

    total $1,920 · program services $1,920

  • 19 · Conferences, conventions and meetings

    total $5,673 · program services $5,673

  • 22 · Depreciation, depletion and amortization

    total $984 · program services $984

  • 24a · Other expenses: SALARIES REIMBURSEMENT

    total $69,324 · program services $69,324

  • 24b · Other expenses: DUES AND ACCREDITATION

    total $261 · management and general $261

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $451,636 · end of year $347,506

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $8,893

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

    $8,583

  • 10c · Land, buildings and equipment, net

    beginning of year $1,294 · end of year $310

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,974 · end of year $11,853

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $434,956 · end of year $335,963

Mission and programs · 2023

Mission

THE WATSON CLINIC FOUNDATION INC. IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES. (CONTINUED ON SCHEDULE O)

Activities or mission (Part I)

THE WATSON CLINIC FOUNDATION INC. PROMOTES THE WELLNESS OF MANKIND THROUGH EDUCATION, RESEARCH, AND COMMUNITY SERVICE.

  • THE FOUNDATION SUPPORTS PHYSICIANS FOR RESEARCH THAT IS IMPERATIVE TO ADVANCE THE POOL OF MEDICAL KNOWLEDGE RELATED TO PREVENTION AND TREATMENT OF DISEASES. THE PURPOSE OF THE PROGRAM IS TO IMPROVE PATIENT CARE FROM THE KNOWLEDGE OBTAINED THROUGH THE RESEARCH PROCESS.

    Expenses $81,357

  • THE FOUNDATION PRESENTS VARIOUS AWARDS ANNUALLY TO THOSE INDIVIDUALS DEMONSTRATING EXCELLENCE IN SUCH AREAS AS RESEARCH, CLINICAL STUDIES, AND NURSING. ALSO, THE FOUNDATION GRANTS FUNDING ANNUALLY TO THOSE ORGANIZATIONS COMMITTED TO THE WELLBEING OF THE COMMUNITY BY PROVIDING FREE QUALITY MEDICAL CARE, SUPPORTING EDUCATIONAL OUTREACH PROGRAMS, AND FURTHERING AVAILABLE MEDICAL KNOWLEDGE THROUGH SCIENTIFIC RESEARCH.

    Expenses $66,247 · Grants $66,247

  • THE FOUNDATION OFFERS CONTINUING MEDICAL EDUCATION PROGRAMS TO HEALTH CARE PROVIDERS AND IS ACCREDITED BY THE FLORIDA MEDICAL ASSOCIATION. THE PURPOSE IS TO EXPAND THE KNOWLEDGE BASE OF HEALTH CARE PROFESSIONALS, ENSURING THAT PATIENTS IN THE COMMUNITY RECEIVE THE MOST COMPREHENSIVE MEDICAL TREATMENT. MORE THAN 500 PROVIDERS ATTENDED THE 4 PHYSICIAN EDUCATION PROGRAMS CONDUCTED DURING THE YEAR.

    Expenses $4,250

As filed on the 2023 return.

Listed in Part VII

  • Galina Vugman MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Stanley L Piotrowski

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Steven G Achinger MD

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • M Shane Glor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pranay C Patel MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Randy V Heysek MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WATSON CLINIC LLP

    N/A · MEDICAL SERVICES · FL

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WATSON CLINIC CENTER FOR RESEARCH

    C Corporation · MEDICAL RESEARCH · FL

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
28 March 2025
IRS schema version
2023v6.0
Source object
202510869349301681

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