Overview
What is Memorial Medical Center Foundation?
The Memorial Medical Center Foundation is a nonprofit organization based in Long Beach, California, with a team of nine individuals. Their primary role involves raising funds and providing support for patient programs, clinical research, medical equipment, and capital expansion at hospitals and healthcare facilities operated by Long Beach Memorial Medical Center, a nonprofit public benefit corporation and tax-exempt public charity. The foundation oversees the investment of assets entrusted to them and distributes the funds according to donors' wishes, benefiting an unspecified number of patients, community members, and healthcare professionals. Their activities include managing charitable trusts and gift annuities, and since its establishment over 50 years ago, the community has contributed significantly to their cause.
Official website here: www.memorialcare.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
Memorial Medical Center Foundation has received a Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. The organization boasts a high Accountability & Finance Score of 96, with a low liabilities-to-assets ratio of 5.26%, showcasing solid financial health. Additionally, the foundation demonstrates effective fundraising with a low cost per dollar raised, and a significant working capital ratio of 25.67 years, suggesting sustainability in operations.
In terms of community engagement, the foundation excelled in constituent feedback, achieving a perfect score across various feedback-related metrics, including collection and usage. This highlights a robust commitment to understanding and addressing the needs of its community. The high program expense ratio of 68.20% indicates that a substantial portion of its budget is directed towards its programs, which is a positive sign for donors seeking impact.
However, while the foundation scored well overall, it received a slightly lower score of 79 for its Equity Strategies, reflecting some areas for improvement in data collection and policy implementation related to equity. This indicates that while the foundation is performing admirably, there may be opportunities to enhance its strategies for inclusivity and equitable access to its services.
This AI summary has been generated from information found on Charity Navigator.
Is Memorial Medical Center Foundation legitimate?
Memorial Medical Center Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memorial Medical Center 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: $1,223,848
For more financial information, click here
Official website here: www.memorialcare.org
What is the mission statement of Memorial Medical Center Foundation?
The Memorial Medical Center Foundation is dedicated to raising funds and offering support for various patient programs, clinical research, medical equipment, and capital expansion at non-profit healthcare facilities operated by Long Beach Memorial Medical Center. It functions as a tax-exempt public charity under Section 501(C)(3) of the Internal Revenue Code. The foundation's primary role is to secure different types of donations, manage trusts and endowment funds, and lead fund development programs to benefit Long Beach Memorial Medical Center and its associated hospitals, such as Miller Children's and Women's Hospital, along with their programs, centers, and clinics.
Official website here: www.memorialcare.org
Who is the CEO of Memorial Medical Center Foundation?
Robert Gunsalus is the Board Member of Memorial Medical Center Foundation.
Official website here: www.memorialcare.org
What is the revenue of Memorial Medical Center Foundation?
Memorial Medical Center Foundation's revenue in 2022 was $14,326,786.
Official website here: www.memorialcare.org
Who are the executives of Memorial Medical Center Foundation and what are their salaries?
The average compensation at Memorial Medical Center Foundation during 2022 was $135,983. There are 9 employees and 20 volunteers at Memorial Medical Center Foundation.
Here are 29 key members and their salaries:
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- Related: $1,473,887
- Other: $432,465
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- Other: $106,629
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- Other: $13,852
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- Related: $189,731
- Other: $27,040
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- Related: $166,415
- Other: $15,590
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- Related: $116,488
- Other: $28,499
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- Related: $110,428
- Other: $17,839
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- Related: $109,856
- Other: $3,979
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Official website here: www.memorialcare.org
Where can I find the form 990 for Memorial Medical Center Foundation?
Memorial Medical Center Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memorialcare.org
Learn more at the official website: www.memorialcare.org
Mission Statement of Memorial Medical Center Foundation
Memorial Medical Center Foundation, a nonprofit public benefit corporation and tax-exempt public charity under Section 501(C)(3) of the Internal Revenue Code, is dedicated to raising funds and providing support for various programs, clinical research, medical equipment, and capital expansion at the hospitals and healthcare facilities operated by Long Beach Memorial Medical Center. The Foundation's primary goal is to cultivate and secure different types of gifts, grants, bequests, and administer trust and endowment funds, as well as manage fund development programs for Long Beach Memorial Medical Center and its affiliated institutions, including Long Beach Memorial Medical Center, Miller Children's and Women's Hospital, and their programs, centers, and clinics. By securing financial resources, the Foundation ensures the continued availability of essential medical services and cutting-edge healthcare solutions for the communities it serves.
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Impact
October, 2024
Memorial Medical Center Foundation significantly impacts healthcare in Long Beach by raising funds and providing essential support for various patient programs, clinical research initiatives, medical equipment, and capital expansion projects in hospitals under the Long Beach Memorial Medical Center umbrella.
For over 50 years, the Foundation has served as a vital link between community members and healthcare needs, facilitating philanthropic contributions that enhance medical education, staff training, and community healthcare outreach. These efforts enable the implementation of innovative patient care initiatives and the acquisition of critical clinical equipment.
Additionally, the Foundation has played a crucial role in supporting specialized facilities, such as the Miller Children's & Women's Hospital, the Todd Cancer Institute, and the Memorial Heart and Vascular Institute. Through the stewardship of its investment portfolio, which includes 81 charitable trusts and gift annuities, it ensures financial resources are wisely managed and directed to where they are most needed.
The Foundation's initiatives help create a state-of-the-art healthcare environment that not only improves patient outcomes but also educates and trains healthcare professionals, thereby fostering a community that prioritizes health and wellness. Their commitment directly benefits countless patients and families, making a profound and lasting difference in the community.
This information is meant to be a general summary of Memorial Medical Center 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 2022.
- Investment Income: $11,090,768
- Gross Receipts: $59,880,163
Assets and Liabilities:
- Total Assets: $251,549,867
- Total Liabilities: $15,331,824
- Net Assets: $236,218,043
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Organization Details
Founding Year
1964
Phone
(562) 933-4483Principal Officer
Robert Gunsalus
Main Address
2801 ATLANTIC AVENUE, LONG BEACH, CA, 90806
Website
www.memorialcare.orgNTEE Category
Code: E99 - Health
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