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Nonprofiteer
← TEXAS MEDICAL CENTER VENTURE FUND

Form 990 for tax year 2023

Filed by TEXAS MEDICAL CENTER VENTURE FUND.

Totals

Total revenue
$126,414
Total expenses
$371,911
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$101,826
Other revenue
$24,588
Total assets, end of year
$36,830,030
Total liabilities, end of year
$19,211,831
Net assets or fund balances, end of year
$17,618,199
Program services expenses (Part IX)
$371,911
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$371,911

Program services were 100.0% 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.

  • 3 · Investment income

    total $179,396 · related or exempt $0 · unrelated business $0 · excluded $179,396

  • 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

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

    securities $77,570

  • 7c · Gain or loss

    securities -$77,570

  • 7d · Net gain or loss

    total -$77,570 · related or exempt $0 · unrelated business $0 · excluded -$77,570

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 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

  • 11a · Other revenue: OTHER REVENUE

    total $24,588 · related or exempt $24,588 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $24,588

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 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 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $230,000 · program services $230,000

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $16,474 · program services $16,474

  • 10 · Payroll taxes

    total $13,662 · program services $13,662 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $23,100 · program services $23,100 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $7,276 · program services $7,276 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $12,255 · program services $12,255 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $57,033 · program services $57,033 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $500 · program services $500 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $67 · program services $67 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $195 · program services $195 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $4,171 · program services $4,171 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $7,178 · program services $7,178 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,064 · end of year $32,797

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $1,256,757 · end of year $3,322,343

  • 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 $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $4,776,072 · end of year $49,641

  • 12 · Investments: other securities

    beginning of year $27,997,156 · end of year $33,425,249

  • 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 $11,346 · end of year $11,346

  • 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 $14,334,743 · end of year $19,200,485

  • 27 · Net assets without donor restrictions

    beginning of year $19,703,960 · end of year $17,618,199

  • 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

    Expenses $371,911 · Revenue $24,588

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

  • DENISE CASTILLO-RHODES

    TREASURER

    Total calculated
    $870,076
    From this org
    $0
    From related orgs
    $837,076
    Other
    $33,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $549,415 related
    Bonus
    $0 + $220,151 related
    Other
    $0 + $67,510 related
    Deferred
    $0 + $33,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $870,076 related

  • JOHN REALE

    Executive in Residence

    Total calculated
    $267,916
    From this org
    $234,836
    From related orgs
    $0
    Other
    $33,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $30,000
    Other
    $4,836
    Deferred
    $0
    Nontaxable benefits
    $33,080
    Filer's total
    $267,916

  • GREG MOORE

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • CHARLES W HALL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • BERNARD HARRIS JR

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 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

  • 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
  • 4a · Severance or change-of-control payment

Answered no

  • 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
28 October 2024
IRS schema version
2023v5.1
Source object
202443119349301804

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