Form 990 for tax year 2023
Filed by OCEAN REEF MEDICAL CENTER FOUNDATION INC.
Totals
- Total revenue
- $9,178,149
- Total expenses
- $5,059,392
- Contributions and grants received
- $5,512,824
- Grants paid
- $3,580,879
- Program service revenue
- $0
- Investment income
- $3,096,377
- Other revenue
- $568,948
- Total assets, end of year
- $67,201,301
- Total liabilities, end of year
- $1,486,676
- Net assets or fund balances, end of year
- $65,714,625
- Program services expenses (Part IX)
- $4,543,317
- Management and general expenses
- $516,075
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,543,317
Program services were 89.8% 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.
-
1b · Membership dues
$155,450
-
1f · All other contributions, gifts and grants
$5,357,374
-
1g · Noncash contributions included above
$185,238
-
3 · Investment income
total $1,170,930 · related or exempt $1,170,930
-
7a · Gross sales of assets other than inventory
securities $9,001,962
-
7b · Less cost or other basis and sales expenses
securities $7,076,515
-
7c · Gain or loss
securities $1,925,447
-
7d · Net gain or loss
total $1,925,447 · related or exempt $1,925,447
-
8a · Fundraising events: gross income
$645,813
-
8b · Fundraising events: direct expenses
$108,417
-
8c · Net income from fundraising events
total $537,396 · excluded $537,396
-
11a · Other revenue: MISC INCOME
total $31,552 · related or exempt $31,552
-
11e · Other revenue, total
$31,552
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $3,580,879 · program services $3,580,879
-
7 · Other salaries and wages
total $86,987 · management and general $86,987
-
8 · Pension plan contributions
total $5,208 · management and general $5,208
-
9 · Other employee benefits
total $16,214 · management and general $16,214
-
10 · Payroll taxes
total $5,266 · management and general $5,266
-
11a · Fees: management
total $187,322 · management and general $187,322
-
11b · Fees: legal
total $1,735 · management and general $1,735
-
11c · Fees: accounting
total $11,515 · management and general $11,515
-
11f · Fees: investment management
total $46,920 · management and general $46,920
-
13 · Office expenses
total $15,496 · program services $2,585 · management and general $12,911
-
20 · Interest
total $94,978 · program services $85,480 · management and general $9,498
-
22 · Depreciation, depletion and amortization
total $896,708 · program services $807,037 · management and general $89,671
-
24a · Other expenses: ORC FEES
total $30,787 · program services $2,517 · management and general $28,270
-
24b · Other expenses: HEALTHNET FOUNDATION
total $29,294 · program services $29,294
-
24c · Other expenses: LECTURES
total $27,176 · program services $27,176
-
24d · Other expenses: STORAGE RENTAL
total $11,335 · management and general $11,335
-
24e · All other expenses
total $11,572 · program services $8,349 · management and general $3,223
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $1,075,309 · end of year $2,735,703
-
7 · Other notes and loans receivable
beginning of year $988,463 · end of year $1,496,412
-
9 · Prepaid expenses and deferred charges
beginning of year $54,119 · end of year $68,823
-
10a · Land, buildings and equipment: cost or other basis
$29,610,400
-
10b · Land, buildings and equipment: accumulated depreciation
$8,930,173
-
10c · Land, buildings and equipment, net
beginning of year $21,541,681 · end of year $20,680,227
-
11 · Investments: publicly traded securities
beginning of year $38,058,685 · end of year $42,220,136
-
17 · Accounts payable and accrued expenses
beginning of year $51,005 · end of year $22,043
-
23 · Secured mortgages and notes payable
beginning of year $2,139,456 · end of year $1,461,541
-
25 · Other liabilities
beginning of year $3,092 · end of year $3,092
-
27 · Net assets without donor restrictions
beginning of year $59,071,626 · end of year $65,226,497
-
28 · Net assets with donor restrictions
beginning of year $453,078 · end of year $488,128
Mission and programs · 2023
Mission
TO SUPPORT CHARITABLE UNDERTAKING OF THE MEDIAL CENTER AT OCEAN REEF, INC. AND OTHER NON PROFIT ORGANIZATIONS.
Activities or mission (Part I)
TO SUPPORT CHARITABLE UNDERTAKING OF THE MEDICAL CENTER AT OCEAN REEF, INC.
-
THE FOUNDATION SERVES AS A SUPPORTING ORGANIZATION TO BENEFIT THE MEDICAL CENTER AT OCEAN REEF, INC. AND OTHER NON PROFIT ORGANIZATIONS.
Expenses $4,543,317 · Grants $3,580,879
As filed on the 2023 return.
Listed in Part VII
-
Adelaide SkoglundADELAIDE SKOGLUND
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Dan HardingDAN HARDING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Christina FisherCHRISTINA FISHER
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Tim BrammerTIM BRAMMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mike JonesMIKE JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tom DavidsonTOM DAVIDSON
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Dominic Di NapoliDOMINIC DI NAPOLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mike BermanMIKE BERMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gretchen FishGRETCHEN FISH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tom MartellTOM MARTELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Alex TonarelliALEX TONARELLI
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
Christopher CovingtonCHRISTOPHER COVINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ed KramerED KRAMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Alex RogersALEX ROGERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
James SlatteryJAMES SLATTERY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Juan PerezJUAN PEREZ
REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 2
-
Joel CoopermanJOEL COOPERMAN
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Michael HeaneyMICHAEL HEANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
William Keith YoungWILLIAM KEITH YOUNG
CHIEF EXECUTIVE OFFICER
- Total calculated
- $229,299
- From this org
- $0
- From related orgs
- $229,299
- Other
- $0
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $191,363 related
- Bonus
- $0 + $37,936 related
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $229,299 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
-
THE MEDICAL CENTER AT OCEAN REEF INC
$3,084,066
OPERATIONS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541289349303699
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