Totals
- Total revenue
- $5,298,690
- Total expenses
- $2,711,582
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,969,643
- Investment income
- $0
- Other revenue
- $3,329,047
- Total assets, end of year
- $26,401,396
- Total liabilities, end of year
- $19,437,591
- Net assets or fund balances, end of year
- $6,963,805
- Program services expenses (Part IX)
- $2,464,299
- Management and general expenses
- $247,283
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,464,299
Program services were 90.9% 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.
-
2a · Program service revenue: RENTAL INCOME
total $1,969,643 · related or exempt $1,969,643
-
11a · Other revenue: GAIN ON DEBT EXTINGUIS
total $3,438,993 · related or exempt $3,438,993
-
11b · Other revenue: GAIN ON DEBT EXTINGUIS
total $1,000 · related or exempt $1,000
-
11c · Other revenue: MISCELLANEOUS REVENUE
total $488 · related or exempt $488
-
11d · All other revenue
total -$111,434 · related or exempt -$111,434
-
11e · Other revenue, total
$3,329,047
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $246,000 · management and general $246,000
-
11c · Fees: accounting
total $1,283 · management and general $1,283
-
20 · Interest
total $1,208,672 · program services $1,208,672
-
22 · Depreciation, depletion and amortization
total $717,904 · program services $717,904
-
24a · Other expenses: BUILDING OPERATING EXPE
total $536,691 · program services $536,691
-
24b · Other expenses: MISCELLANEOUS
total $1,000 · program services $1,000
-
24c · Other expenses: LOCAL MILEAGE
total $32 · program services $32
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $258,343 · end of year $533,925
-
2 · Savings and temporary cash investments
beginning of year $346,457 · end of year $0
-
4 · Accounts receivable
beginning of year $3,587,517 · end of year $3,601,611
-
9 · Prepaid expenses and deferred charges
beginning of year $28,481 · end of year $33,225
-
10a · Land, buildings and equipment: cost or other basis
$28,356,546
-
10b · Land, buildings and equipment: accumulated depreciation
$6,123,911
-
10c · Land, buildings and equipment, net
beginning of year $22,934,655 · end of year $22,232,635
-
17 · Accounts payable and accrued expenses
beginning of year $1,508,167 · end of year $1,860,511
-
23 · Secured mortgages and notes payable
beginning of year $21,270,589 · end of year $17,577,080
-
27 · Net assets without donor restrictions
beginning of year $4,376,697 · end of year $6,963,805
Mission and programs · 2023
Mission
TO BE A SUPPORTING ORGANIZATION TO MEDICAL CENTER OF THE AMERICAS FOUNDATION, A PUBLICLY SUPPORTED ORGANIZATION, FOR THE DEVELOPMENT AND LONG-TERM GROWTH OF A VIBRANT, STATE-OF-THE ART RESEARCH PARK FOR LIFE SCIENCES AND HEALTHCARE, BEGINNING WITH A 60,000-SQUARE FOOT LIFE SCIENCES RESEARCH AND TECHNOLOGY BUILDING, THE CARDWELL COLLABORATIVE, AS THE ANCHOR.
Activities or mission (Part I)
TO BE A SUPPORTING ORGANIZATION TO MEDICAL CENTER OF THE AMERICAS FOUNDATION, A PUBLICLY SUPPORTED ORGANIZATION, FOR THE DEVELOPMENT AND LONG-TERM GROWTH OF A VIBRANT, STATE-OF-THE ART RESEARCH PARK FOR LIFE SCIENCES AND HEALTHCARE, BEGINNING WITH A 60,000 SQUARE FOOT LIFE SCIENCES RESEARCH AND TECHNOLOGY BUILDING, THE CARDWELL COLLABORATIVE, AS THE ANCHOR.
-
THE ORGANIZATION AND THE FOUNDATION DEVELOPED A BIOMEDICAL RESEARCH FACILITY THAT HOUSES: (1) MEDICAL RESEARCH AND BUSINESS INCUBATOR FACILITIES (2) ADMINISTRATION FOR TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER EL PASO AND ALSO THE UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON, AND (3) MEDICAL CENTER OF THE AMERICAS FOUNDATION OFFICES. THE FIRST PHASE OF THE DEVELOPMENT, A 60,000 SQUARE FOOT BUILDING KNOWN AS THE CARDWELL COLLABORATIVE, WHICH WAS BUILT TO HOUSE STATE-OF-THE ART RESEARCH AND BUSINESS INCUBATIONS, WAS OPENED IN 2016.
Expenses $2,464,299 · Revenue $1,970,131
-
SERIES B LOANS TOTALING APPROXIMATELY $3.5 MILLION WERE ASSIGNED TO MEDICAL CENTER OF THE AMERICAS FOUNDATION THROUGH A PUT OPTION PURSUANT TO A PUT/CALL AGREEMENT. SUBSEQUENTLY, FOUNDATION AND THE ORGANIZATION EXECUTED A FORGIVENESS AGREEMENT WHERE FOUNDATION FORGAVE ALL UNPAID PRINCIPAL AND ACCRUED INTEREST OF THE SERIES B LOANS.
Revenue $3,328,559
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Melinda BeckerMELINDA BECKER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Josh HuntJOSH HUNT
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Matthew BohannonMATTHEW BOHANNON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Edward EscuderoEDWARD ESCUDERO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ted HoughtonTED HOUGHTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rick FrancisRICK FRANCIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Ben MarcusBEN MARCUS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lane GaddyLANE GADDY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Christian GieseCHRISTIAN GIESE
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Carlos OrtegaCARLOS ORTEGA
CEO AND CFO
- Total calculated
- $240,163
- From this org
- $0
- From related orgs
- $220,000
- Other
- $20,163
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $220,000 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $8,800 related
- Nontaxable benefits
- $0 + $11,363 related
- Filer's total
- $0 + $240,163 related
-
Xavier CardenasXAVIER CARDENAS
SR DIRECTOR. ENGINEERING
- Total calculated
- $148,169
- From this org
- $0
- From related orgs
- $142,082
- Other
- $6,087
- Hours/week
- 1 + 40 related
-
Nancy LoweryNANCY LOWERY
SR. DIRECTOR OF INNOVATION
- Total calculated
- $137,644
- From this org
- $0
- From related orgs
- $132,350
- Other
- $5,294
- Hours/week
- 1 + 40 related
-
Michaele D Linden-JohnsonMICHAELE D LINDEN-JOHNSON
SR. DIRECTOR OF TRIALS
- Total calculated
- $128,450
- From this org
- $0
- From related orgs
- $112,584
- Other
- $15,866
- Hours/week
- 1 + 40 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
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.
-
MEDICAL CENTER OF THE AMERICAS FOUNDATION
501(C)(3) · ADVANCE DEVELOPMENT OF MCA CAMPUS AND BIOMEDICAL INNOVATION AND RESEARCH · TX
Directly controlled by MCAMERICAS HOLIDINGS INC
-
501(C)(3) · ACQUISITION, HOLDING, AND LEASING REAL ESTATE · TX
Directly controlled by MCAMERICAS HOLDINGS INC
-
501(C)(3) · SUPPORTING ORGANIZATION SERVING AS PARENT HOLDING COMPANY · TX
-
501(C)(3) · ACQUISITION, HOLDING, AND LEASING REAL ESTATE · TX
Directly controlled by MCAMERICAS HOLDINGS INC
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.
-
BMIA INC
C · FACILITATE ACCESS TO CAPITAL TO THE MCA INNOVATION ECOSYSTEM · NV
Directly controlled by MEDICAL CENTER OF THE AMERICAS FDN
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 23 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412219349300726
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