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Nonprofiteer
← MEMORIAL MEDICAL CENTER FOUNDATION

Form 990 for tax year 2023

Filed by MEMORIAL MEDICAL CENTER FOUNDATION.

Totals

Total revenue
$34,370,478
Total expenses
$10,211,278
Contributions and grants received
$6,966,129
Grants paid
$6,647,873
Program service revenue
$0
Investment income
$27,578,183
Other revenue
-$173,834
Total assets, end of year
$283,224,351
Total liabilities, end of year
$13,876,010
Net assets or fund balances, end of year
$269,348,341
Program services expenses (Part IX)
$6,647,873
Management and general expenses
$1,643,110
Fundraising expenses
$1,920,295
Program service expenses (Part III)
$6,647,873

Program services were 65.1% 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.

  • 1c · Fundraising events

    $840,338

  • 1f · All other contributions, gifts and grants

    $6,125,791

  • 1g · Noncash contributions included above

    $12,298

  • 3 · Investment income

    total $993,542 · excluded $993,542

  • 7a · Gross sales of assets other than inventory

    securities $104,022,058

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

    securities $77,437,417

  • 7c · Gain or loss

    securities $26,584,641

  • 7d · Net gain or loss

    total $26,584,641 · excluded $26,584,641

  • 8a · Fundraising events: gross income

    $144,645

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

    $840,338

  • 8b · Fundraising events: direct expenses

    $318,479

  • 8c · Net income from fundraising events

    total -$173,834 · excluded -$173,834

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,647,873 · program services $6,647,873

  • 7 · Other salaries and wages

    total $1,586,710 · management and general $479,623 · fundraising $1,107,087

  • 9 · Other employee benefits

    total $509,057 · management and general $131,799 · fundraising $377,258

  • 10 · Payroll taxes

    total $124,215 · management and general $59,623 · fundraising $64,592

  • 11c · Fees: accounting

    total $186,606 · management and general $125,582 · fundraising $61,024

  • 11f · Fees: investment management

    total $667,334 · management and general $667,334

  • 12 · Advertising and promotion

    total $149,197 · management and general $854 · fundraising $148,343

  • 13 · Office expenses

    total $61,746 · management and general $7,120 · fundraising $54,626

  • 14 · Information technology

    total $153,440 · management and general $92,281 · fundraising $61,159

  • 16 · Occupancy

    total $3,775 · management and general $3,775

  • 19 · Conferences, conventions and meetings

    total $32,097 · management and general $22,191 · fundraising $9,906

  • 20 · Interest

    total $18,168 · management and general $18,168

  • 23 · Insurance

    total $8,476 · management and general $8,476

  • 24a · Other expenses: DONOR DEVELOPMENT

    total $36,380 · management and general $785 · fundraising $35,595

  • 24b · Other expenses: BANK FEES

    total $24,810 · management and general $24,105 · fundraising $705

  • 24c · Other expenses: TAXES AND FEES

    total $1,394 · management and general $1,394

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,097,524 · end of year $419,855

  • 2 · Savings and temporary cash investments

    beginning of year $6,607,032 · end of year $7,358,054

  • 3 · Pledges and grants receivable

    beginning of year $4,289,509 · end of year $3,870,563

  • 4 · Accounts receivable

    beginning of year $92,866 · end of year $193,661

  • 11 · Investments: publicly traded securities

    beginning of year $221,026,511 · end of year $240,184,260

  • 12 · Investments: other securities

    beginning of year $22,918,024 · end of year $25,921,026

  • 15 · Other assets

    beginning of year $6,879,615 · end of year $5,276,932

  • 19 · Deferred revenue

    beginning of year $261,156 · end of year $125,000

  • 23 · Secured mortgages and notes payable

    beginning of year $218,250 · end of year $200,888

  • 25 · Other liabilities

    beginning of year $13,350,543 · end of year $13,550,122

  • 27 · Net assets without donor restrictions

    beginning of year $56,817,155 · end of year $64,932,577

  • 28 · Net assets with donor restrictions

    beginning of year $192,263,977 · end of year $204,415,764

Mission and programs · 2023

Mission

TO CULTIVATE AND SECURE ALL TYPES OF GIFTS, GRANTS, BEQUESTS, AND TO ADMINISTER TRUST AND ENDOWMENT FUNDS AND FUND DEVELOPMENT PROGRAMS, FOR LONG BEACH MEMORIAL MEDICAL CENTER, A NONPROFIT PUBLIC BENEFIT CORPORATION AND TAX EXEMPT PUBLIC CHARITY WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND ITS HOSPITALS, INCLUDING BUT NOT LIMITED TO LONG BEACH MEMORIAL MEDICAL CENTER AND MILLER CHILDREN'S AND WOMEN'S HOSPITAL, AND ITS PROGRAMS, CENTERS, AND CLINICS.

Activities or mission (Part I)

TO RAISE FUNDS AND PROVIDE SUPPORT FOR PATIENT PROGRAMS, CLINICAL RESEARCH, MEDICAL EQUIPMENT, AND CAPITAL EXPANSION AT THE HOSPITALS AND OTHER HEALTHCARE FACILITIES OPERATED BY LONG BEACH MEMORIAL MEDICAL CENTER, A NONPROFIT PUBLIC BENEFIT CORPORATION AND TAX-EXEMPT PUBLIC CHARITY WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $6,647,873 · Grants $6,647,873

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Blair Kent

    BOARD MEMBER, CEO/EVP, LBMMC & MCWH

    Total calculated
    $1,931,742
    From this org
    $0
    From related orgs
    $1,615,791
    Other
    $315,951
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $834,265 related
    Bonus
    $0 + $699,549 related
    Other
    $0 + $81,977 related
    Deferred
    $0 + $295,321 related
    Nontaxable benefits
    $0 + $20,630 related
    Filer's total
    $0 + $1,931,742 related

  • John Bishop

    FORMER BOARD MEMBER, CEO/EVP LBMMC

    Total calculated
    $1,592,046
    From this org
    $0
    From related orgs
    $1,591,054
    Other
    $992
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $27,556 related
    Bonus
    $0
    Other
    $0 + $1,563,498 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $992 related
    Filer's total
    $0 + $1,592,046 related

  • Yair Katz

    FORMER CFO(THRU 12.22)/CEO MCWH+SVP PED(FROM 12.22

    Total calculated
    $1,141,675
    From this org
    $0
    From related orgs
    $917,226
    Other
    $224,449
    Hours/week
    0 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $601,073 related
    Bonus
    $0 + $178,011 related
    Other
    $0 + $138,142 related
    Deferred
    $0 + $209,835 related
    Nontaxable benefits
    $0 + $14,614 related
    Filer's total
    $0 + $1,141,675 related

  • Robert Gunsalus

    BOARD MEMBER, PRESIDENT

    Total calculated
    $626,402
    From this org
    $0
    From related orgs
    $581,988
    Other
    $44,414
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $0 + $388,174 related
    Bonus
    $0 + $118,657 related
    Other
    $0 + $75,157 related
    Deferred
    $0 + $16,500 related
    Nontaxable benefits
    $0 + $27,914 related
    Filer's total
    $0 + $626,402 related

  • Gary Muenzel Sr

    EXEC. DIR CONTROLLER

    Total calculated
    $248,320
    From this org
    $0
    From related orgs
    $219,050
    Other
    $29,270
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $186,276 related
    Bonus
    $0 + $7,639 related
    Other
    $0 + $25,135 related
    Deferred
    $0 + $11,260 related
    Nontaxable benefits
    $0 + $18,010 related
    Filer's total
    $0 + $248,320 related

  • Stephen C Hollister

    EXEC DIR, GRANTS

    Total calculated
    $232,235
    From this org
    $0
    From related orgs
    $204,277
    Other
    $27,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $181,120 related
    Bonus
    $0 + $8,458 related
    Other
    $0 + $14,699 related
    Deferred
    $0 + $10,552 related
    Nontaxable benefits
    $0 + $17,406 related
    Filer's total
    $0 + $232,235 related

  • Samuel J Proko

    DIR, ACCOUNTING (THRU 1/26/24)

    Total calculated
    $218,768
    From this org
    $0
    From related orgs
    $202,752
    Other
    $16,016
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $164,824 related
    Bonus
    $0 + $7,533 related
    Other
    $0 + $30,395 related
    Deferred
    $0 + $10,059 related
    Nontaxable benefits
    $0 + $5,957 related
    Filer's total
    $0 + $218,768 related

  • Charles W Herron

    EXEC DIR, DEVELOPMENT (LBMC)

    Total calculated
    $193,143
    From this org
    $0
    From related orgs
    $169,409
    Other
    $23,734
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $157,172 related
    Bonus
    $0 + $6,600 related
    Other
    $0 + $5,637 related
    Deferred
    $0 + $5,881 related
    Nontaxable benefits
    $0 + $17,853 related
    Filer's total
    $0 + $193,143 related

  • Cathleen F Wieder

    EXEC DIR, DEVELOPMENT (MCWH)

    Total calculated
    $197,908
    From this org
    $0
    From related orgs
    $159,642
    Other
    $38,266
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $143,051 related
    Bonus
    $0 + $5,452 related
    Other
    $0 + $11,139 related
    Deferred
    $0 + $10,047 related
    Nontaxable benefits
    $0 + $28,219 related
    Filer's total
    $0 + $197,908 related

  • Gary Delong

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Susan Laputz

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Joe Cristina

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Katherine Keesal

    1ST VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • John Mehigan

    2ND VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Joel Brodsky DDS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lisa Chapman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bill Durkee

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bob Foster

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Funari

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lynne Pillsbury

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Peterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Randy Gordon

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mari Hooper

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Walter Larkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Wang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Wells MD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINES 4A-B
PART I, LINES 4A-B: 4A: THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT DURING THE YEAR: JOHN BISHOP - $697,180 4B: SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: THE ORGANIZATION MAINTAINS A DEFINED CONTRIBUTION PLAN UNDER WHICH, WITH LIMITED EXCEPTIONS REFERENCED BELOW, EACH YEAR'S CONTRIBUTION VESTS AFTER THREE YEARS CONDITIONED UPON THE RECIPIENT'S CONTINUED EMPLOYMENT WITH THE ORGANIZATION AS OF SUCH DATE. CONTRIBUTIONS THAT ARE SUBJECT TO A FUTURE VESTING CONDITION OR EVENT ARE REPORTED AS "RETIREMENT AND DEFERRED COMPENSATION" ON SCHEDULE J, PART II, COLUMN (C). CONTRIBUTIONS THAT ARE IMMEDIATELY VESTED UNDER THE CIRCUMSTANCES REFERENCED BELOW ARE REPORTED AS "OTHER REPORTABLE COMPENSATION" ON SCHEDULE J, PART II, COLUMN (B)(III). DURING THE 2023 CALENDAR YEAR, THE ORGANIZATION MADE THE FOLLOWING DISTRIBUTIONS TO THE PLAN ON BEHALF OF THE FOLLOWING INDIVIDUAL: JOHN BISHOP - $737,650
PART I, LINE 7
CERTAIN EXECUTIVES RECEIVE PART OF THEIR OVERALL COMPENSATION IN THE FORM OF AN ANNUAL INCENTIVE PAYMENT. SEVERAL FINANCIAL AND NON-FINANCIAL METRICS ARE UTILIZED IN THE FORMULA FOR THE INCENTIVE COMPENSATION, AND THESE METRICS AND THE FORMULA ARE REVIEWED AND APPROVED EACH YEAR IN ADVANCE BY THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF THE SOLE MEMBER OF EACH ORGANIZATION. PAYMENT OF ANY INCENTIVE COMPENSATION MUST BE APPROVED BY THE COMPENSATION COMMITTEE AFTER IT HAS REVIEWED THE METRICS TO DETERMINE WHETHER THEY HAVE BEEN MET AND THE AMOUNT OF THE PAYMENTS (IF ANY) BASED ON THE APPROVED FORMULA.
SCHEDULE J, PART I, LINE 3
THE COMPENSATION OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER IS DETERMINED BY MEMORIAL HEALTH SERVICES (MHS), THE TAX-EXEMPT PARENT OF MEMORIAL MEDICAL CENTER FOUNDATION'S SOLE MEMBER, LONG BEACH MEMORIAL MEDICAL CENTER. SEE SCHEDULE O FORM 990, PART VI, LINES 15A AND 15B FOR THE PROCESS USED BY MHS TO DETERMINE COMPENSATION.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MEMORIALCARE HOME HEALTH LLC

    HEALTHCARE · CA

  • BEACH SURGICAL HOLDINGS LLC

    HEALTHCARE · CA

  • MEMORIALCARE INNOVATION FUND LP

    HEALTHCARE · CA

  • SUMMATION HEALTH VENTURES

    INVESTMENTS · DE

  • BRISTOL PARK INVESTMENT GROUP I LP

    OWN, LEASE, PROVIDE MANAGEMENT SERVICES FOR MEDICAL OFFICE BUILDING · CA

  • BRISTOL PARK INVESTMENT GROUP II LP

    OWN, LEASE, PROVIDE MANAGEMENT SERVICES FOR MEDICAL OFFICE BUILDING · CA

  • BRISTOL PARK INVESTMENT GROUP III LP

    OWN, LEASE, PROVIDE MANAGEMENT SERVICES FOR MEDICAL OFFICE BUILDING · CA

  • BRISTOL PARK INVESTMENT GROUP V LP

    OWN, LEASE, PROVIDE MANAGEMENT SERVICES FOR MEDICAL OFFICE BUILDING · CA

  • RMV MOB I LLC

    OWN, OPERATE, LEASE, MAINTAIN THE MEDICAL OFFICE BUILDING PROPERTY · CA

  • MC FV MOB I LLC

    OWN, OPERATE, LEASE, MAINTAIN THE MEDICAL OFFICE BUILDING PROPERTY · CA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (38)

    T · SUPPORT · CA · controlled entity

    Directly controlled by MMCF

  • NATIONAL HEALTHCARE SERVICES

    C · MEDICAL SERVICES · CA · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202501349349310095

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