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Nonprofiteer
← MEDICAL PARK FOUNDATION INC

Form 990 for tax year 2023

Filed by MEDICAL PARK FOUNDATION INC.

Totals

Total revenue
$683,773
Total expenses
$33,000
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$48,239
Other revenue
$635,534
Total assets, end of year
$15,315,770
Total liabilities, end of year
$214,062
Net assets or fund balances, end of year
$15,101,708
Program services expenses (Part IX)
$33,000
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$33,000

Program services were 100.0% 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 $19,419 · related or exempt $19,419

  • 6a · Gross rents

    real property $1,329,077

  • 6b · Less rental expenses

    real property $1,279,050

  • 6c · Rental income or loss

    real property $50,027

  • 6d · Net rental income or loss

    total $50,027 · related or exempt $50,027

  • 7a · Gross sales of assets other than inventory

    other assets $113,023

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

    other assets $84,203

  • 7c · Gain or loss

    other assets $28,820

  • 7d · Net gain or loss

    total $28,820 · related or exempt $28,820

  • 11a · Other revenue: INSURANCE CLAIMS

    total $585,262 · related or exempt $585,262

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $245 · related or exempt $245

  • 11e · Other revenue, total

    $585,507

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $33,000 · program services $33,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,516,277 · end of year $1,214,367

  • 2 · Savings and temporary cash investments

    beginning of year $245,033 · end of year $1,761,703

  • 4 · Accounts receivable

    beginning of year $18,979 · end of year $28,549

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,155 · end of year $36,016

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

    $23,633,169

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

    $11,404,097

  • 10c · Land, buildings and equipment, net

    beginning of year $12,879,912 · end of year $12,229,072

  • 15 · Other assets

    beginning of year $46,063 · end of year $46,063

  • 17 · Accounts payable and accrued expenses

    beginning of year $180,980 · end of year $178,463

  • 19 · Deferred revenue

    beginning of year $98,504 · end of year $35,599

  • 27 · Net assets without donor restrictions

    beginning of year $6,441,809 · end of year $7,406,290

  • 28 · Net assets with donor restrictions

    beginning of year $8,009,126 · end of year $7,695,418

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE OFFICE SPACE IN ORDER TO ACCOMODATE PHYSICIANS THAT SUPPORT WEST GEORGIA MEDICAL CENTER D/B/A WELLSTAR WEST GEORGIA MEDICAL CENTER.

Activities or mission (Part I)

SUPPORT OF WEST GEORGIA MEDICAL CENTER, INC. D/B/A/ WELLSTAR WEST GEORGIA MEDICAL CENTER

  • MEDICAL PARK FOUNDATION, INC, IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) BECAUSE THE ACCUMULATED INCOME OF THE FOUNDATION IS RESTRICTED IN SUPPORT OF WEST GEORGIA MEDICAL CENTER D/B/A WELLSTAR WEST GEORGIA MEDICAL CENTER.

    Expenses $33,000

As filed on the 2023 return.

Listed in Part VII

  • Paul S Penn III

    PRESIDENT/DI

    Total calculated
    $0
    Hours/week
    3

  • Charles Hudson Jr

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Coleman Foss

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    1

  • John C McKibben

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joel Upchurch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ellen Harris

    DIRECTOR

    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.

Grants on this return

No itemized grants to organizations 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 corporations and trusts

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

  • OLD MILL PARK PROPERTY OWNERS' ASSO

    C CORP · PROPERTY O · GA

Provenance

Return type
form_990
Tax year
2023
Filed
7 October 2024
IRS schema version
2023v5.0
Source object
202422899349301537

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