Overview
What is University Of Texas System Medical Foundation?
The University of Texas System Medical Foundation is a nonprofit organization situated in Houston, Texas. Its primary mission involves supporting the operational expenses of residency training programs at the University of Texas Health Science Center-Houston (UTHealth). In the past, the Foundation employed 1138 individuals, who were later transitioned to UTHealth in 2019. Currently, the Foundation is in a transitional phase, overseeing transactions within a self-funded health plan for a year, monitoring investments, and preparing to wind down all operations by the end of the year. The Foundation's role is crucial in providing financial assistance and ensuring the delivery of top-notch educational programs to future medical professionals.
Is University Of Texas System Medical Foundation legitimate?
University Of Texas System Medical Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Of Texas System Medical Foundation 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
What is the mission statement of University Of Texas System Medical Foundation?
The University of Texas System Medical Foundation's mission is to provide financial support and ensure the highest quality training for medical residency programs at UTHealth, fostering accredited graduate medical education. In the past, the Foundation employed residents and fellows in training programs, but following a decision by the University of Texas System Board of Regents in 2019, these individuals became employees of UTHealth. Presently, the Foundation's primary role involves overseeing transactions during a 1-year run-out period of its self-funded health plan, monitoring investments, and preparing for the cessation of operations.
Who is the CEO of University Of Texas System Medical Foundation?
Patricia M Butler Md is the President of University Of Texas System Medical Foundation.
What is the revenue of University Of Texas System Medical Foundation?
University Of Texas System Medical Foundation's revenue in 2020 was $656,368.
Who are the executives of University Of Texas System Medical Foundation and what are their salaries?
There are 1138 employees and 3 volunteers at University Of Texas System Medical Foundation.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $367,010
- Other: $38,755
- Compensation: $0
- Related: $217,108
- Other: $32,869
- Compensation: $0
- Related: $218,362
- Other: $28,655
Where can I find the form 990 for University Of Texas System Medical Foundation?
University Of Texas System Medical Foundation's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of University Of Texas System Medical Foundation
The University of Texas System Medical Foundation, with a focus on its mission, aims to provide financial support to UTHealth's medical residency training programs. This nonprofit organization strives to ensure that these programs receive the highest quality training in accredited graduate medical education. By doing so, it contributes to the development of skilled medical professionals, ultimately enhancing the healthcare sector. During fiscal year 2019, a significant shift occurred within the Foundation, as all residents and fellows in training programs were employed by UTHealth. As a result, the Foundation transitioned its employees to UTHealth on July 1, 2019, and by September 1, 2019, it no longer had any staff. However, the Foundation continues to oversee transactions during a 1-year run-out period of its self-funded health plan, monitor investments, and prepare for the cessation of all operations. Despite these changes, the University of Texas System Medical Foundation's primary objective remains to support UTHealth's residency training programs with financial aid and top-tier education, contributing to the future of medical care and patient well-being.
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Impact
October, 2024
The University of Texas System Medical Foundation significantly impacts the landscape of medical training and healthcare in Texas by providing crucial financial support to residency training programs at the University of Texas Health Science Center-Houston (UTHealth). With a mission to enhance the quality of graduate medical education, it plays a vital role in the development of skilled healthcare professionals.
In fiscal year 2019, a pivotal shift occurred when the University of Texas System Board of Regents decided to transition all residents and fellows in training programs to become employees of UTHealth. This transition, effective July 1, 2019, marked a new era for residency training, ensuring that educators and healthcare providers could focus on delivering the highest caliber of education and training to their teams.
Although the Foundation's operational activities have largely concluded, it continues to oversee necessary financial transactions during its transition period. By monitoring investments and preparing for the cessation of operations, the Foundation ensures that the legacy of its support continues to benefit future healthcare professionals.
Ultimately, the work of the University of Texas System Medical Foundation contributes to the broader aim of improving health outcomes and advancing medical education in Texas, fostering a new generation of healthcare experts dedicated to serving their communities.
This information is meant to be a general summary of University Of Texas System Medical Foundation. 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 2020.
- Investment Income: $322,264
- Gross Receipts: $4,360,494
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1973
Phone
(713) 500-5243Principal Officer
Patricia M Butler Md
Main Address
7000 Fannin Street Suite 860, Houston, TX, 77030
NTEE Category
Code: E020 - Health
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