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Nonprofiteer
← THOREK MEMORIAL FOUNDATION

Form 990 for tax year 2022

Filed by THOREK MEMORIAL FOUNDATION.

Totals

Total revenue
$457,781
Total expenses
$51,686
Contributions and grants received
$0
Grants paid
$25,000
Program service revenue
$0
Investment income
$457,781
Other revenue
$0
Total assets, end of year
$10,649,369
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$10,649,369
Program services expenses (Part IX)
$25,000
Management and general expenses
$26,686
Fundraising expenses
$0
Program service expenses (Part III)
$25,000

Program services were 48.4% 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.

  • 3 · Investment income

    total $220,564 · excluded $220,564

  • 7a · Gross sales of assets other than inventory

    securities $1,385,580

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

    securities $1,148,363

  • 7c · Gain or loss

    securities $237,217

  • 7d · Net gain or loss

    total $237,217 · excluded $237,217

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,000 · program services $25,000

  • 11f · Fees: investment management

    total $25,825 · management and general $25,825

  • 24a · Other expenses: BANK FEES

    total $861 · management and general $861

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $61,526 · end of year $26,522

  • 2 · Savings and temporary cash investments

    beginning of year $106,717 · end of year $106,790

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

    $3,202

  • 10c · Land, buildings and equipment, net

    beginning of year $3,202 · end of year $3,202

  • 11 · Investments: publicly traded securities

    beginning of year $12,350,102 · end of year $10,512,855

  • 27 · Net assets without donor restrictions

    beginning of year $12,521,547 · end of year $10,649,369

Mission and programs · 2022

Mission

THOREK MEMORIAL FOUNDATION WAS CREATED TO PROVIDE SERVICE TO THE COMMUNITY AND TO PROMOTE AND FOSTER UNDERSTANDING OF VARIOUS HEALTH AND WELLNESS CONCERNS AFFECTING THE MEMBERS OF THE COMMUNITY. THE FOUNDATION WILL USE ITS RESOURCES TO IDENTIFY HEALTHCARE NEEDS, IMPROVE POPULATION HEALTH, AND ADDRESS OTHER NEEDS WITHIN THE COMMUNITY IT SERVES. THE FOUNDATION WILL PROVIDE FINANCIAL SUPPORT TO ORGANIZATIONS IN THE COMMUNITY TO ASSIST THEIR OPERATIONS, ACTIVITIES, AND FULFILL THEIR MISSIONS. THOREK MEMORIAL FOUNDATION WILL SPONSOR VARIOUS SCIENTIFIC, EDUCATIONAL, AND CHARITABLE ENDEAVORS THAT RESULT FROM THE IDENTIFICATION OF CERTAIN COMMUNITY HEALTH ISSUES. THOREK MEMORIAL FOUNDATION WILL ALSO SUPPORT AND ENRICH THOREK MEMORIAL HOSPITAL THROUGH VARIOUS EDUCATIONAL ACTIVITIES.

Activities or mission (Part I)

THOREK MEMORIAL FOUNDATION IS COMMITTED TO THE PURSUIT OF KNOWLEDGE AND UNDERSTANDING AND FINANCIAL SUPPORT OF THE COMMUNITY HEALTH ISSUES. THE FOUNDATION ALSO PROVIDES SUPPORT FOR EDUCATIONAL ACTIVITIES IN THE COMMUNITY.

  • THOREK MEMORIAL FOUNDATION PROVIDES GRANTS TO EDUCATIONAL AND CHARITABLE ENDEAVORS.

    Expenses $25,000 · Grants $25,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Edward Budd

    SECRETARY/TREASURER

    Total calculated
    $657,242
    From this org
    $0
    From related orgs
    $630,894
    Other
    $26,348
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $546,470 related
    Bonus
    $0 + $84,424 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $26,348 related
    Filer's total
    $0 + $657,242 related

  • Maria Pappas

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Manjeet Chawla MD

    DIRECTOR

    Total calculated
    $100,500
    From this org
    $0
    From related orgs
    $100,500
    Other
    $0
    Hours/week
    0.5

  • Jagan Mohan MD

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $0
    From related orgs
    $30,000
    Other
    $0
    Hours/week
    0.5 + 0.5 related

  • Pamela Nugent

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Bhagwan Jain MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Peter Karahalios

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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 ORGANIZATION'S TOP MANAGEMENT OFFICIAL WAS COMPENSATED BY A RELATED ORGANIZATION, THOREK MEMORIAL HOSPITAL, USING THE FOLLOWING METHODS TO DETERMINE THE TOP MANAGEMENT OFFICIAL'S COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT. WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303189349308450

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