Overview
What is Memorial Health Care System Foundation Inc?
Memorial Health Care System Foundation Inc is a nonprofit organization with the primary objective of fundraising and boosting awareness for Memorial Health Care System (MHCS). By raising funds, the foundation enables MHCS to expand its services and reach more individuals within the community. Affiliated with Catholic Health Initiatives in the past, the foundation transitioned under the name CommonSpirit Health following a reorganization in 2019. The foundation's mission is to support MHCS, thereby enhancing access to healthcare services for a broader population.
Official website here: www.memorial.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Memorial Health Care System Foundation Inc has achieved a remarkable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial transparency. The organization excels in various metrics, including having a majority of independent board members and robust financial oversight mechanisms. Their commitment to accountability is further demonstrated by a clean record with no material diversion of assets and comprehensive conflict of interest and whistleblower policies.
The Foundation's financial health is strong, highlighted by a low liabilities-to-assets ratio and an impressive program expense ratio of 76.59%, ensuring that a significant portion of their funds is directed towards programs rather than administrative costs. Additionally, their fundraising efficiency is outstanding, with a cost of just $0.03 to raise a dollar, reflecting their effective fundraising strategies and management practices.
While the Foundation has shown exemplary performance in various aspects, the data does not provide detailed information on specific programs or community impact. Nonetheless, their strong governance and financial structure position them as a trustworthy and effective nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Memorial Health Care System Foundation Inc legitimate?
Memorial Health Care System Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memorial Health Care System Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.memorial.org
What is the mission statement of Memorial Health Care System Foundation Inc?
The Memorial Health Care System Foundation Inc's primary role is to generate funds and promote awareness for Memorial Health Care System (MHCS). These collected funds enable MHCS to expand its mission into the wider community. By doing so, the foundation supports MHCS in its mission to serve the community beyond its immediate reach. The organization, previously associated with Catholic Health Initiatives, underwent a name change in 2019 as a part of the alignment of Catholic ministries with Dignity Health. While the foundation does not have a specific stated mission statement, its purpose of fundraising and awareness-raising for MHCS allows the health care system to extend its services further into the community.
Official website here: www.memorial.org
Who is the CEO of Memorial Health Care System Foundation Inc?
Jennifer Nicely is the Ex-Officio/Chief Development Officer of Memorial Health Care System Foundation Inc. The CEO's salary of Memorial Health Care System Foundation Inc is $0 and their total compensation is $1,265,035.
Official website here: www.memorial.org
What is the revenue of Memorial Health Care System Foundation Inc?
Memorial Health Care System Foundation Inc's revenue in 2022 was $6,317,578.
Official website here: www.memorial.org
Who are the executives of Memorial Health Care System Foundation Inc and what are their salaries?
There 370 volunteers at Memorial Health Care System Foundation Inc.
Here are 32 key members and their salaries (Memorial Health Care System Foundation Inc's CEO's salary is $0 and their total compensation is $1,265,035):
- Compensation: $0
- Related: $3,244,309
- Other: $36,897
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- Related: $1,178,923
- Other: $102,028
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- Related: $1,156,775
- Other: $108,260
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- Related: $844,361
- Other: $42,892
- Compensation: $0
- Related: $709,913
- Other: $51,183
- Compensation: $0
- Related: $374,782
- Other: $52,736
- Compensation: $0
- Related: $358,152
- Other: $30,253
- Compensation: $0
- Related: $235,568
- Other: $38,154
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Official website here: www.memorial.org
Where can I find the form 990 for Memorial Health Care System Foundation Inc?
Memorial Health Care System Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memorial.org
Learn more at the official website: www.memorial.org
Mission Statement of Memorial Health Care System Foundation Inc
Memorial Health Care System Foundation Inc's primary role is to generate funds and promote awareness for Memorial Health Care System (MHCS). The funds collected enable MHCS to expand its reach and impact within the community, furthering its mission. The organization, previously affiliated with Catholic Health Initiatives (CHI), underwent a significant change in 2019 as CHI aligned its Catholic ministries with Dignity Health, subsequently changing its name to CommonSpirit Health. This shift did not impact Memorial Health Care System Foundation Inc's mission, which remains focused on supporting MHCS and enhancing its presence in the community.
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Impact
July, 2024
Memorial Health Care System Foundation Inc's impact can be seen in its dedication to raising funds and awareness for Memorial Health Care System (MHCS). By doing so, the foundation enables MHCS to extend its mission further into the community. Through its philanthropic efforts, Memorial Health Care System Foundation Inc plays a crucial role in supporting the healthcare initiatives and services provided by MHCS to benefit the community in Chattanooga, TN.
This information is meant to be a general summary of Memorial Health Care System Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $249,087
- Gross Receipts: $6,885,044
Assets and Liabilities:
- Total Assets: $11,865,758
- Total Liabilities: $157,962
- Net Assets: $11,707,796
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Organization Details
Founding Year
2001
Phone
(423) 495-2525Principal Officer
Jennifer Nicely
Main Address
2525 DE SALES AVENUE, CHATTANOOGA, TN, 37404
Website
www.memorial.orgNTEE Category
Code: T30 - Philanthropy
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