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Nonprofiteer
← LAU HEALTH FOUNDATION INC

Form 990 for tax year 2023

Filed by LAU HEALTH FOUNDATION INC.

Totals

Total revenue
$1,013,233
Total expenses
$1,105,521
Contributions and grants received
$1,013,233
Grants paid
$1,090,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$685,226
Total liabilities, end of year
$29,000
Net assets or fund balances, end of year
$656,226
Program services expenses (Part IX)
$1,090,000
Management and general expenses
$15,521
Fundraising expenses
$0
Program service expenses (Part III)
$1,090,000

Program services were 98.6% 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

    $251,562

  • 1d · Related organizations

    $15,521

  • 1e · Government grants (contributions)

    $744,000

  • 1f · All other contributions, gifts and grants

    $2,150

  • 8a · Fundraising events: gross income

    $0

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

    $251,562

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $1,090,000 · program services $1,090,000

  • 11c · Fees: accounting

    total $14,169 · management and general $14,169

  • 24a · Other expenses: BANK CHARGES

    total $1,027 · management and general $1,027

  • 24b · Other expenses: MISCELLANEOUS TAXES

    total $325 · management and general $325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $769,179 · end of year $675,764

  • 4 · Accounts receivable

    beginning of year $7,735 · end of year $9,462

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,400 · end of year $9,000

  • 25 · Other liabilities

    beginning of year $20,000 · end of year $20,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $748,514 · end of year $656,226

Mission and programs · 2023

Mission

THE PURPOSE FOR WHICH THE CORPORATION IS FORMED IS TO ACCEPT CONTRIBUTIONS (INCLUDING MONETARY CONTRIBUTIONS AND CONTRIBUTIONS OF MEDICAL EQUIPMENT) TO SUPPORT THE MEDICAL SCHOOL OF LEBANESE AMERICAN UNIVERSITY, A NEW YORK NOT-FOR-PROFIT CORPORATION. SUCH CONTRIBUTIONS ARE TO BE USED SPECIFICALLY TO SUPPORT MEDICAL AND HEALTH EDUCATION PROGRAMS CONDUCTED OR OPERATED BY THE MEDICAL SCHOOL.

Activities or mission (Part I)

SUPPORT FOR MEDICAL & CLINICAL EDUCATION

  • SUPPORT FOR MEDICAL & CLINICAL EDUCATION. LAU HEALTH FOUNDATION IS A SUPPORTING ORGANIZATION OF LEBANESE AMERICAN UNIVERSITY. THE PRIMARY PURPOSE OF LAU HEALTH FOUNDATION IS FUNDRAISING IN SUPPORT OF MEDICAL & CLINICAL EDUCATION.

    Expenses $1,090,000 · Grants $1,090,000

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

Listed in Part VII

  • Michel Mawad

    PRESIDENT & CHAIRMAN

    Total calculated
    $921,763
    From this org
    $0
    From related orgs
    $814,804
    Other
    $106,959
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $600,000 related
    Bonus
    $0 + $150,000 related
    Other
    $0 + $64,804 related
    Deferred
    $0 + $74,736 related
    Nontaxable benefits
    $0 + $32,223 related
    Filer's total
    $0 + $921,763 related

  • Dr Hanna Shammas

    FOUNDING MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Philip Stoltzfus

    FOUNDING MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mr Charles Abou Rjeily

    TREASURER & SECRETARY

    Total calculated
    $632,348
    From this org
    $0
    From related orgs
    $391,954
    Other
    $240,394
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,864 related
    Bonus
    $0
    Other
    $0 + $103,090 related
    Deferred
    $0 + $194,845 related
    Nontaxable benefits
    $0 + $45,549 related
    Filer's total
    $0 + $632,348 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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION IS PAID BY LAU AND IS SUBJECT TO THE APPROVAL PROCEDURES OF THE UNIVERSITY.

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.

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 corporations and trusts

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

  • LEBANESE AMERICAN UNIVERSITY MEDICAL CENTER - RIZK HOSPITAL

    C · HOSPITAL · LE

  • MEDICAL CARE HOLDINGS SAL

    C · HOLDING COMPANY · LE

  • MEDICAL CARE MANAGEMENT SAL

    C · MANAGE HEALTHCARE FACILITIES · LE

  • LAU INNOVATE SAL

    C · BUSINESS DEVELOPMENT · LE

Provenance

Return type
form_990
Tax year
2023
Filed
5 September 2024
IRS schema version
2023v5.1
Source object
202432579349300238

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