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← MEMORIAL HOSPITAL FOUNDATION INC

Form 990 for tax year 2024

Filed by MEMORIAL HOSPITAL FOUNDATION INC.

Totals

Total revenue
$65,714,687
Total expenses
$1,359,235
Contributions and grants received
$57,120,128
Grants paid
$466,144
Program service revenue
$0
Investment income
$8,550,445
Other revenue
$44,114
Total assets, end of year
$162,386,932
Total liabilities, end of year
$849,476
Net assets or fund balances, end of year
$161,537,456
Program services expenses (Part IX)
$920,905
Management and general expenses
$438,330
Fundraising expenses
$0
Program service expenses (Part III)
$920,905

Program services were 67.8% 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.

  • 1c · Fundraising events

    $6,886

  • 1d · Related organizations

    $10,000

  • 1e · Government grants (contributions)

    $5,072,282

  • 1f · All other contributions, gifts and grants

    $52,030,960

  • 1g · Noncash contributions included above

    $187,553

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,914,912 · related or exempt $0 · unrelated business $0 · excluded $1,914,912

  • 6a · Gross rents

    real property $77,726

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $77,726 · personal property $0

  • 6d · Net rental income or loss

    total $77,726 · related or exempt $0 · unrelated business $0 · excluded $77,726

  • 7a · Gross sales of assets other than inventory

    securities $33,634,037

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

    securities $26,998,504

  • 7c · Gain or loss

    securities $6,635,533 · other assets $0

  • 7d · Net gain or loss

    total $6,635,533 · related or exempt $0 · unrelated business $0 · excluded $6,635,533

  • 8a · Fundraising events: gross income

    $1,000

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

    $6,886

  • 8b · Fundraising events: direct expenses

    $34,612

  • 8c · Net income from fundraising events

    total -$33,612 · unrelated business $0 · excluded -$33,612

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $352,729 · program services $352,729

  • 2 · Grants to domestic individuals

    total $113,415 · program services $113,415

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $434,605 · program services $299,667 · management and general $134,938 · fundraising $0

  • 8 · Pension plan contributions

    total $3,927 · program services $0 · management and general $3,927 · fundraising $0

  • 9 · Other employee benefits

    total $0 · fundraising $0

  • 10 · Payroll taxes

    total $11,039 · program services $0 · management and general $11,039 · fundraising $0

  • 11f · Fees: investment management

    total $155,698 · program services $0 · management and general $155,698 · fundraising $0

  • 11g · Fees: other

    total $34,409 · program services $0 · management and general $34,409 · fundraising $0

  • 12 · Advertising and promotion

    total $23,912 · program services $0 · management and general $23,912 · fundraising $0

  • 13 · Office expenses

    total $19,672 · program services $1,789 · management and general $17,883 · fundraising $0

  • 16 · Occupancy

    total $8,370 · program services $8,358 · management and general $12 · fundraising $0

  • 17 · Travel

    total $2,207 · program services $0 · management and general $2,207 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $43,876 · program services $43,876 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $91,929 · program services $91,929 · management and general $0 · fundraising $0

  • 24a · Other expenses: Miscellaneous

    total $63,447 · program services $9,142 · management and general $54,305 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,249,758 · end of year $1,916,083

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $3,572,866 · end of year $38,512,565

  • 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

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

    $4,105,868

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,649,490

  • 10c · Land, buildings and equipment, net

    beginning of year $2,548,307 · end of year $2,456,378

  • 11 · Investments: publicly traded securities

    beginning of year $17,048,939 · end of year $40,738,744

  • 12 · Investments: other securities

    beginning of year $36,299,697 · end of year $24,105,351

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $39,869,315 · end of year $54,657,811

  • 17 · Accounts payable and accrued expenses

    beginning of year $263,347 · end of year $623,529

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $7,720 · end of year $225,947

  • 27 · Net assets without donor restrictions

    beginning of year $61,109,108 · end of year $69,590,141

  • 28 · Net assets with donor restrictions

    beginning of year $41,208,707 · end of year $91,947,315

Mission and programs · 2024

Mission

MEMORIAL HOSPITAL FOUNDATION (MHF) THROUGH ITS PHILANTHROPIC EFFORTS SUPPORTS SHORE MEDICAL CENTER AT EASTON TO BE A HEALING INFLUENCE IN OUR COMMUNITY, TO HELP IMPROVE THE HEALTH STATUS AND CREATE EASY ACCESS IN A COST EFFECTIVE QUALITY HEALTH SYSTEM.

Activities or mission (Part I)

MEMORIAL HOSPITAL FOUNDATION THROUGH ITS PHILANTHROPIC EFFORTS WILL SUPPORT SHORE MEDICAL CENTER AT EASTON.

  • FUNDS USED TO SUPPORT SHORE HEALTH SYSTEM PROGRAMS, INCLUDING BREAST CENTER/DIC IMPROVEMENTS, MAGNET ACCREDIATION, PHYSICIAN RESIDENCY PROGRAM AND EQUIPMENT FOR CARDIOLOGY AND FOOD SERVICES.

    Expenses $920,905 · Grants $466,144

As filed on the 2024 return.

Listed in Part VII

  • Charles Capute

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Keith McMahan

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kenneth D Kozel

    President and CEO, UMSRH

    Total calculated
    $765,691
    From this org
    $0
    From related orgs
    $722,577
    Other
    $43,114
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $488,253 related
    Bonus
    $0 + $126,072 related
    Other
    $0 + $108,252 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $29,314 related
    Filer's total
    $0 + $765,691 related

  • Paul S Nicholson

    Treasurer

    Total calculated
    $536,322
    From this org
    $0
    From related orgs
    $473,105
    Other
    $63,217
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $319,366 related
    Bonus
    $0 + $86,279 related
    Other
    $0 + $67,460 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $49,417 related
    Filer's total
    $0 + $536,322 related

  • W Moorhead Vermilye

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • David Nagel

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jack Stoltz CPA

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jacqueline H Smith

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lizette Hannegan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Bair

    Board Member

    Total calculated
    $330,360
    From this org
    $0
    From related orgs
    $289,399
    Other
    $40,961
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $221,718 related
    Bonus
    $0 + $41,160 related
    Other
    $0 + $26,521 related
    Deferred
    $0 + $24,017 related
    Nontaxable benefits
    $0 + $16,944 related
    Filer's total
    $0 + $330,360 related

  • William Munn

    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

  • 4b · Supplemental nonqualified retirement plan

Answered no

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

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
ALL COMPENSATION TO OFFICERS, DIRECTORS, AND KEY EMPLOYEES REPORTED ON PART VII OF THE FORM 990 WAS DETERMINED BY A RELATED ORGANIZATION, UMMS. THE RELATED ENTITY CHECKS THE FOLLOWING BOXES FOR SCHEDULE J, QUESTION 3 ON ITS FORM 990: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -COMPENSATION SURVEY OR STUDY -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
DURING THE FISCAL YEAR-ENDED JUNE 30, 2025, CERTAIN OFFICERS AND KEY EMPLOYEES PARTICIPATED IN THE UNIVERSITY OF MARYLAND MEDICAL SYSTEM (UMMS) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE INDIVIDUALS LISTED BELOW HAVE VESTED IN THE PLAN IN A PRIOR YEAR, THEREFORE THE CONTRIBUTIONS TO THE PLAN FOR THE FISCAL YEAR ARE REPORTED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, LINE B (III), OTHER REPORTABLE COMPENSATION: KENNETH D KOZEL, $77,465 PAUL NICHOLSON, $41,580 DURING THE FISCAL YEAR- ENDED JUNE 30, 2025, CERTAIN OFFICERS AND KEY EMPLOYEES PARTICIPATED IN THE UMMS SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE INDIVIDUAL LISTED BELOW HAS NOT VESTED IN THE PLAN THEREFORE THE ACCRUED CONTRIBUTION TO THE PLAN FOR THE FISCAL YEAR IS REPORTED ON SCHEDULE J, PART II, COLUMN C, RETIREMENT AND OTHER DEFERRED COMPENSATION: REBECCA BAIR

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MHF FEDERAL STREET LLC

    REAL ESTATE · MD · income $77,726 · assets $2,456,378

    Directly controlled by MHF

Related partnerships

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

  • BALTIMORE WASHINGTON IMAGING

    N/A · HEALTHCARE · MD

    Directly controlled by UMBWMS

  • UNIVERSITYCARE LLC

    N/A · HEALTHCARE · MD

    Directly controlled by UMMSC

  • O'DEA MEDICAL ARTS LIMITED PAR

    N/A · RENTAL · MD

    Directly controlled by SJMC PROP

  • ADVANCED IMAGING AT ST JOSEPH

    N/A · HEALTHCARE · MD

    Directly controlled by UMSJMC

  • UNIVERSITY OF MARYLAND CHARLES

    N/A · HEALTHCARE · MD

    Directly controlled by UMCRCP

  • BALTIMORE ASC VENTURES LLC

    N/A · HEALTHCARE · DE

    Directly controlled by UMSJMC

  • UCHSUMMS REAL ESTATE TRUST

    N/A · HOLDING CO · MD

    Directly controlled by UMMSC

  • UM CHESAPEAKE SURGERY CENTER LLC

    N/A · HEALTHCARE · MD

    Directly controlled by UCHV

  • RUXTON SURGICENTER LLC

    N/A · HEALTHCARE · MD

    Directly controlled by UMSJMC

Related corporations and trusts

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

  • NA EXECUTIVE BUILDING CONDO ASSN INC

    C Corporation · REAL ESTATE · MD

    Directly controlled by NA

  • UM CHARLES REGIONAL CARE PARTNERS

    C Corporation · HEALTHCARE · MD

    Directly controlled by NA

  • UNIVERSITY MIDTOWN PROF CENTER

    C Corporation · REAL ESTATE · MD

    Directly controlled by NA

  • UNIVERSITY OF MARYLAND MEDICAL SYSTEM HE

    C Corporation · INSURANCE · MD

    Directly controlled by NA

  • UPPER CHESAPEAKE HEALTH VENTURES INC

    C Corporation · HEALTHCARE · MD

    Directly controlled by NA

  • UPPER CHESAPEAKE MEDICAL CENTER LAND CON

    C Corporation · REAL ESTATE · MD

    Directly controlled by NA

  • UPPER CHESAPEAKE MEDICAL OFFICE BUILDING

    C Corporation · REAL ESTATE · MD

    Directly controlled by NA

  • SHORE ORTHOPEDICS INC

    C Corporation · HEALTHCARE · MD

    Directly controlled by NA

  • MADISON MANOR INC

    C Corporation · HEALTHCARE · MD

    Directly controlled by NA

  • AFFILIATED ENTERPRISES INC

    C Corporation · HEALTHCARE · MD

    Directly controlled by NA

  • RIVERSIDE HEALTH OF DELAWARE INC

    C Corporation · HEALTHCARE · DE

    Directly controlled by NA

  • RIVERSIDE HEALTH OF DC INC

    C Corporation · HEALTHCARE · DC

    Directly controlled by NA

  • GALLION HEALTH INC

    C Corporation · TECHNOLOGY · DE

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2026
IRS schema version
2024v5.1
Source object
202601339349304545

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