Form 990 for tax year 2024

Totals

Total revenue

$74,550

Total expenses

$265,319

Contributions and grants received

$0

Grants paid

$200,000

Program service revenue

$0

Investment income

$74,550

Other revenue

$0

Total assets, end of year

$3,522,581

Total liabilities, end of year

$0

Net assets or fund balances, end of year

$3,522,581

Program services expenses (Part IX)

$200,000

Management and general expenses

$65,319

Fundraising expenses

$0

Program service expenses (Part III)

$200,000

Program services were 75.4% 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.

Mission and programs · 2024

• THE LUBBOCK METHODIST HOSPITAL SYSTEM (LMHS) BOARD MEETS FOUR TIMES A YEAR AND HAS THREE ACTIVE COMMITTEES: OPERATING, OVERSIGHT, AND NOMINATING. THE OPERATING COMMITTEE DETERMINES THE FINANCIAL FEASIBILITY OF PROJECTS, ACTS, AND UNDERTAKINGS REFERRED TO IT BY THE BOARD; REVIEWS FINANCIAL STATEMENTS AND APPRAISES THE PERFORMANCE OF LMHS; COUNSELS WITH THE BOARD AND THE OFFICERS ON CURRENT AND LONG-TERM FISCAL AFFAIRS AND MAKES RECOMMENDATIONS TO THE BOARD CONCERNING THE FISCAL AFFAIRS; RECOMMENDS POLICIES AND AGENCIES FOR THE MANAGEMENT OF FUNDS; OVERSEES FINANCIAL AND LEGAL AUDIT NEEDS AND MAKES RECOMMENDATIONS, AND OVERSEES AND MAKES RECOMMENDATIONS REGARDING D&O INSURANCE NEEDS. IN DOING SO, THE BOARD PROVIDES EDUCATIONAL SCHOLARSHIPS TO THE COVENANT FOUNDATION. THE OVERSIGHT COMMITTEE IS RESPONSIBLE FOR OVERSEEING THE RELATIONSHIP WITH COVENANT HEATH SYSTEM/PROVIDENCE AND THE ETHICAL AND RELIGIOUS DIRECTIVES. IN THIS ROLE, CORPORATE OVERSIGHT OF TUBAL LIGATIONS IS REVIEWED ON AN ANNUAL BASIS. THE NOMINATING COMMITTEE RECOMMENDS MEMBERS OF THE LMHS BOARD, OFFICERS OF THE LMHS BOARD, AND MEMBERS OF THE COVENANT HEALTH SYSTEM BOARD.

  Expenses $200,000 · Grants $200,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

• COVENANT FOUNDATION

  $200,000

  SCHOLARSHIPS

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.

• COVENANT HEALTH SYSTEM

  501C3 · MEDICAL · TX

  Directly controlled by NA N/A

Provenance

Return type

form_990

Tax year

2024

Filed

3 February 2026

IRS schema version

2024v5.0

Source object

202600349349301460

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