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← MEDICAL FOUNDATION OF CHATTANOOGA INC

Form 990 for tax year 2023

Filed by MEDICAL FOUNDATION OF CHATTANOOGA INC.

Totals

Total revenue
$1,901,041
Total expenses
$1,184,513
Contributions and grants received
$1,859,453
Grants paid
$0
Program service revenue
$0
Investment income
$80,948
Other revenue
-$39,360
Total assets, end of year
$5,665,582
Total liabilities, end of year
$110,235
Net assets or fund balances, end of year
$5,555,347
Program services expenses (Part IX)
$1,033,490
Management and general expenses
$84,298
Fundraising expenses
$66,725
Program service expenses (Part III)
$1,033,490

Program services were 87.3% 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.

  • 1c · Fundraising events

    $113,693

  • 1e · Government grants (contributions)

    $1,652,226

  • 1f · All other contributions, gifts and grants

    $93,534

  • 3 · Investment income

    total $80,948 · related or exempt $80,948

  • 8a · Fundraising events: gross income

    $0

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

    $113,693

  • 8b · Fundraising events: direct expenses

    $39,360

  • 8c · Net income from fundraising events

    total -$39,360 · excluded -$39,360

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $97,115 · program services $93,231 · management and general $2,913 · fundraising $971

  • 7 · Other salaries and wages

    total $616,421 · program services $591,764 · management and general $18,493 · fundraising $6,164

  • 8 · Pension plan contributions

    total $126,807 · program services $121,384 · management and general $4,067 · fundraising $1,356

  • 11c · Fees: accounting

    total $11,838 · program services $11,838

  • 13 · Office expenses

    total $29,387 · program services $16,163 · management and general $13,224

  • 16 · Occupancy

    total $33,581 · program services $30,895 · management and general $2,686

  • 17 · Travel

    total $3,113 · program services $3,113

  • 19 · Conferences, conventions and meetings

    total $148,254 · program services $75,650 · management and general $14,370 · fundraising $58,234

  • 22 · Depreciation, depletion and amortization

    total $4,179 · program services $4,179

  • 23 · Insurance

    total $9,051 · program services $8,494 · management and general $557

  • 24a · Other expenses: MAINTENANCE AND REPAIR

    total $29,386 · program services $27,035 · management and general $2,351

  • 24b · Other expenses: PRINTING

    total $24,422 · program services $13,432 · management and general $10,990

  • 24c · Other expenses: OTHER ADMINISTRATIVE

    total $18,172 · program services $16,537 · management and general $1,635

  • 24d · Other expenses: TELEPHONE

    total $11,684 · program services $10,048 · management and general $1,636

  • 24e · All other expenses

    total $21,103 · program services $9,727 · management and general $11,376

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $983,135 · end of year $1,490,194

  • 2 · Savings and temporary cash investments

    beginning of year $476,844 · end of year $490,909

  • 4 · Accounts receivable

    beginning of year $336,369 · end of year $536,277

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,419 · end of year $2,600

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

    $110,073

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

    $74,009

  • 10c · Land, buildings and equipment, net

    beginning of year $34,869 · end of year $36,064

  • 12 · Investments: other securities

    beginning of year $2,497,617 · end of year $3,109,538

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,296 · end of year $52,154

  • 19 · Deferred revenue

    beginning of year $25,450 · end of year $31,819

  • 25 · Other liabilities

    beginning of year $29,141 · end of year $26,262

  • 27 · Net assets without donor restrictions

    beginning of year $4,233,366 · end of year $5,555,347

Mission and programs · 2023

Mission

THE MEDICAL FOUNDATION OF CHATTANOOGA EXISTS TO SUPPORT THE COMMUNITY THROUGH HEALTH SERVICES RESEARCH, PROMOTION OF HEALTHY LIFESTYLES, EDUCATION, AND COOPERATION WITH OTHER CHARITABLE ENTITIES TO INCREASE ACCESS TO HEALTH CARE.

  • THE MEDICAL FOUNDATION OF CHATTANOOGA EXISTS TO SUPPORT THE CONTINUAL IMPROVEMENT OF COMMUNITY HEALTH AND STIMULATE PHILANTHROPY AND LEADERSHIP THAT RESPONDS TO HEALTH NEEDS THROUGHOUT THE COMMUNITY. THE FOUNDATION WORKS TO INCREASE ACCESS TO QUALITY HEALTH CARE, EXPAND OPPORTUNITY FOR HEALTH AND MEDICAL EDUCATION, AND ENCOURAGE PHYSICIANS TO ACHIEVE THE HIGHEST IDEALS OF MEDICINE IN THEIR LIVES AND PRACTICES.

    Expenses $1,033,490 · Revenue $80,948

As filed on the 2023 return.

Listed in Part VII

  • Melanie Blake MD

    SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Harish Manyam MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marijka Grey MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Todd Thurston MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Richard Moody MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Harsha Vardhana MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • J Eugene Huffstutter MD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Colleen Schmitt MD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • James Haynes MD

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Christie Kizer Burbank JD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tracie Lesar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vanessa McNeil Trent

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phyllis Miller MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Glenn Newman MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nita Shumaker MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rae Young Bond

    EXECUTIVE DIRECTOR

    Total calculated
    $219,650
    From this org
    $0
    From related orgs
    $186,016
    Other
    $33,634
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,966 related
    Bonus
    $0 + $33,050 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $33,634 related
    Filer's total
    $0 + $219,650 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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
23 August 2024
IRS schema version
2023v5.1
Source object
202422369349301172

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