Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $645,484

• 1f · All other contributions, gifts and grants

  $6,476,489

• 3 · Investment income

  total $2,231,058 · excluded $2,231,058

• 7a · Gross sales of assets other than inventory

  securities $15,973,538

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

  securities $14,704,133

• 7c · Gain or loss

  securities $1,269,405

• 7d · Net gain or loss

  total $1,269,405 · excluded $1,269,405

• 8a · Fundraising events: gross income

  $64,230

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

  $645,484

• 8b · Fundraising events: direct expenses

  $106,510

• 8c · Net income from fundraising events

  total -$42,280 · excluded -$42,280

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,456,000 · program services $2,456,000

• 7 · Other salaries and wages

  total $753,913 · program services $753,913

• 11a · Fees: management

  total $100,000 · management and general $100,000

• 11b · Fees: legal

  total $2,138 · management and general $2,138

• 11c · Fees: accounting

  total $34,456 · management and general $34,456

• 11f · Fees: investment management

  total $124,683 · management and general $124,683

• 11g · Fees: other

  total $124,354 · program services $124,354

• 12 · Advertising and promotion

  total $3,589 · program services $3,589

• 13 · Office expenses

  total $79,966 · program services $79,966

• 16 · Occupancy

  total $2,423 · program services $2,423

• 17 · Travel

  total $23,150 · program services $23,150

• 19 · Conferences, conventions and meetings

  total $214,461 · program services $213,786 · management and general $675

• 23 · Insurance

  total $23,398 · management and general $23,398

• 24a · Other expenses: EXPENDABLE EQUIPMENT

  total $308,310 · program services $308,310

• 24b · Other expenses: MISC

  total $226,138 · program services $226,138

• 24c · Other expenses: HOUSING PROGRAM

  total $130,033 · program services $130,033

• 24d · Other expenses: MED/SURGICAL SUPPLIES

  total $123,891 · program services $123,891

• 24e · All other expenses

  total $353,530 · program services $353,530

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,545,111 · end of year $1,374,451

• 2 · Savings and temporary cash investments

  beginning of year $474,709 · end of year $1,177,955

• 3 · Pledges and grants receivable

  beginning of year $98,167 · end of year $24,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $23,063 · end of year $21,586

• 11 · Investments: publicly traded securities

  beginning of year $50,774,433 · end of year $55,660,682

• 12 · Investments: other securities

  beginning of year $4,238,932 · end of year $9,587,120

• 17 · Accounts payable and accrued expenses

  beginning of year $64,902 · end of year $81,230

• 25 · Other liabilities

  beginning of year $281,302 · end of year $450,669

• 27 · Net assets without donor restrictions

  beginning of year $23,630,979 · end of year $26,173,717

• 28 · Net assets with donor restrictions

  beginning of year $33,177,232 · end of year $41,140,178

The filer's explanations (Part III)

PART I, LINE 3

THE PRESIDENT AND SECRETARY OF THE FOUNDATION ARE COMPENSATED BY MAGEE REHABILITATION HOSPITAL, A RELATED TAX EXEMPT ORGANIZATION. THE FOUNDATION SUPPORTED THE HOSPITAL WITH A CASH GRANT OF $2,456,000 FOR OPERATIONS AND PROGRAMS AND ALSO COMPENSATED THE HOSPITAL FOR VARIOUS ACCOUNTING AND ADMINISTRATIVE SERVICES. MAGEE REHABILITATION HOSPITAL USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.