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Nonprofiteer
← FAMILY MEDICAL CENTERS COMMUNITY FOUNDATION INC

Form 990 for tax year 2023

Filed by FAMILY MEDICAL CENTERS COMMUNITY FOUNDATION INC.

Totals

Total revenue
$3,049,243
Total expenses
$340,613
Contributions and grants received
$139,655
Grants paid
$67,000
Program service revenue
$0
Investment income
$2,909,588
Other revenue
$0
Total assets, end of year
$88,127,073
Total liabilities, end of year
$40,898
Net assets or fund balances, end of year
$88,086,175
Program services expenses (Part IX)
$289,432
Management and general expenses
$51,181
Fundraising expenses
$0
Program service expenses (Part III)
$289,432

Program services were 85.0% 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.

  • 1d · Related organizations

    $139,655

  • 3 · Investment income

    total $2,417,889 · excluded $2,417,889

  • 7a · Gross sales of assets other than inventory

    securities $58,578,453

  • 7b · Less cost or other basis and sales expenses

    securities $58,086,754

  • 7c · Gain or loss

    securities $491,699

  • 7d · Net gain or loss

    total $491,699 · excluded $491,699

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $67,000 · program services $67,000

  • 11b · Fees: legal

    total $707 · management and general $707

  • 11c · Fees: accounting

    total $550 · management and general $550

  • 11g · Fees: other

    total $68,618 · program services $56,063 · management and general $12,555

  • 13 · Office expenses

    total $4,224 · program services $3,946 · management and general $278

  • 17 · Travel

    total $221 · program services $180 · management and general $41

  • 19 · Conferences, conventions and meetings

    total $43,200 · program services $35,165 · management and general $8,035

  • 24a · Other expenses: BANK FEES

    total $155,810 · program services $126,828 · management and general $28,982

  • 24b · Other expenses: LAUNDRY & UNIFORMS

    total $268 · program services $250 · management and general $18

  • 24c · Other expenses: TAXES AND LICENSES

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $53,747 · end of year $157,997

  • 2 · Savings and temporary cash investments

    beginning of year $58,934,691 · end of year $13,322,396

  • 11 · Investments: publicly traded securities

    end of year $74,646,680

  • 12 · Investments: other securities

    beginning of year $17,978,032

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,370 · end of year $1,965

  • 25 · Other liabilities

    beginning of year $84,738 · end of year $38,933

  • 27 · Net assets without donor restrictions

    beginning of year $76,874,362 · end of year $88,086,175

Mission and programs · 2023

Mission

FAMILY MEDICAL CENTERS COMMUNITY FOUNDATION, INC.'S SPECIFIC PURPOSES SHALL BE TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF CUMBERLAND FAMILY MEDICAL CENTER, INC.

  • TO PROMOTE, SUPPORT AND FURTHER THE WORKS OF CUMBERLAND FAMILY MEDICAL CENTER, INC. THERE ARE CURRENTLY NO PAST OR PRESENT ACTIVITIES BEING PERFORMED. PLANNED ACTIVITIES INCLUDE SCHOLARSHIP DISTRIBUTION, PHYSICIAN RECRUITMENT, LONG-TERM INVESTMENTS, AND COMMUNITY OUTREACH.

    Expenses $289,432 · Grants $67,000

As filed on the 2023 return.

Listed in Part VII

  • Eric Loy MD

    CEO OF CFMC/MED DIR/PHYSICIAN

    Total calculated
    $1,325,449
    From this org
    $0
    From related orgs
    $1,275,236
    Other
    $50,213
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,212,349 related
    Bonus
    $0 + $47,042 related
    Other
    $0 + $15,845 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $30,413 related
    Filer's total
    $0 + $1,325,449 related

  • Paula Little

    CHAIRWOMEN

    Total calculated
    $1,338
    From this org
    $0
    From related orgs
    $1,338
    Other
    $0
    Hours/week
    0.08 + 1 related

  • Bridget Booher

    TREASURER

    Total calculated
    $1,460
    From this org
    $0
    From related orgs
    $1,460
    Other
    $0
    Hours/week
    0.08 + 2 related

  • Jim Flowers

    SECRETARY

    Total calculated
    $1,338
    From this org
    $0
    From related orgs
    $1,338
    Other
    $0
    Hours/week
    0.08 + 1 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
3 November 2024
IRS schema version
2023v5.1
Source object
202403099349300215

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