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Nonprofiteer
← TEXAS MEDICAL CENTER FOUNDATION

Form 990 for tax year 2023

Filed by TEXAS MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$3,181,575
Total expenses
$3,005,649
Contributions and grants received
$1,094,800
Grants paid
$183,373
Program service revenue
$2,120,674
Investment income
$0
Other revenue
-$33,899
Total assets, end of year
$5,474,242
Total liabilities, end of year
$31,162,419
Net assets or fund balances, end of year
-$25,688,177
Program services expenses (Part IX)
$2,959,028
Management and general expenses
$46,621
Fundraising expenses
$0
Program service expenses (Part III)
$2,959,028

Program services were 98.4% 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.

  • 1c · Fundraising events

    $110,881

  • 1d · Related organizations

    $983,590

  • 1f · All other contributions, gifts and grants

    $329

  • 2a · Program service revenue: BARDA

    total $48,250 · related or exempt $48,250 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: CPRIT/ACT

    total $1,099,113 · related or exempt $1,099,113 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: BIOBRIDGES UKRI

    total $684,011 · related or exempt $684,011 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: BIOBRIDGES DENMARK

    total $289,300 · related or exempt $289,300 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $57,819

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

    $110,881

  • 8b · Fundraising events: direct expenses

    $91,718

  • 8c · Net income from fundraising events

    total -$33,899 · excluded -$33,899

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $183,373 · program services $183,373

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,549,094 · program services $1,549,094 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $69,431 · program services $69,431 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $333,315 · program services $333,315 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $95,264 · program services $95,264 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $5,122 · program services $5,122 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $42,755 · program services $0 · management and general $42,755 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $280,040 · program services $280,040 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $191,506 · program services $187,670 · management and general $3,836 · fundraising $0

  • 13 · Office expenses

    total $1,709 · program services $1,679 · management and general $30 · fundraising $0

  • 14 · Information technology

    total $961 · program services $961

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $15,260 · program services $15,260 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: OTHER OPERATING AGREEMENTS

    total $231,120 · program services $231,120 · management and general $0 · fundraising $0

  • 24b · Other expenses: TRAINING

    total $6,249 · program services $6,249 · management and general $0 · fundraising $0

  • 24c · Other expenses: EQUIPMENT CONTRACTS

    total $450 · program services $450 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,042,735 · end of year $2,484,752

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $42,567 · end of year $32,892

  • 4 · Accounts receivable

    beginning of year $3,114,285 · end of year $2,945,723

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $10,875

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,382 · end of year $95,582

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $30,008,308 · end of year $31,066,837

  • 27 · Net assets without donor restrictions

    beginning of year -$25,864,103 · end of year -$25,688,177

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

PROVIDE SUPPORT TO THE TEXAS MEDICAL CENTER.

  • SEE SCHEDULE O

    Revenue $48,250

  • SEE SCHEDULE O

    Expenses $1,930,019 · Revenue $1,099,113

  • SEE SCHEDULE O

    Expenses $845,636 · Revenue $973,311

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • William McKeon

    PRESIDENT

    Total calculated
    $3,061,476
    From this org
    $0
    From related orgs
    $2,995,396
    Other
    $66,080
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,938,740 related
    Bonus
    $0 + $776,600 related
    Other
    $0 + $280,056 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $33,080 related
    Filer's total
    $0 + $3,061,476 related

  • Thomas Luby

    DIRECTOR, INNOVATION INST.

    Total calculated
    $742,268
    From this org
    $0
    From related orgs
    $676,188
    Other
    $66,080
    Hours/week
    1 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $469,404 related
    Bonus
    $0 + $141,068 related
    Other
    $0 + $65,716 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0 + $33,080 related
    Filer's total
    $0 + $742,268 related

  • Michael Torres

    Entrepreneur in Residence

    Total calculated
    $235,974
    From this org
    $184,934
    From related orgs
    $0
    Other
    $51,040
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,497
    Bonus
    $29,952
    Other
    $6,485
    Deferred
    $17,960
    Nontaxable benefits
    $33,080
    Filer's total
    $235,974

  • Elliana Tuttle

    Program Manager

    Total calculated
    $175,323
    From this org
    $136,662
    From related orgs
    $0
    Other
    $38,661
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $96,099
    Bonus
    $36,400
    Other
    $4,163
    Deferred
    $13,901
    Nontaxable benefits
    $24,760
    Filer's total
    $175,323

  • Tinashe Chandauka

    Entrepreneur in Residence

    Total calculated
    $162,982
    From this org
    $140,931
    From related orgs
    $0
    Other
    $22,051
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,969
    Bonus
    $21,600
    Other
    $1,362
    Deferred
    $12,807
    Nontaxable benefits
    $9,244
    Filer's total
    $162,982

  • Amit Gupta

    Computations Chemist

    Total calculated
    $143,722
    From this org
    $100,859
    From related orgs
    $0
    Other
    $42,863
    Hours/week
    40

  • Charles W Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • J Downey Bridgwater

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Dr Bernard A Harris Jr MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Greg Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Alexandra Pruner

    DIRECTOR

    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. 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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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
28 October 2024
IRS schema version
2023v5.1
Source object
202433119349301713

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