Kern Medical Center Foundation

What it reported doing in 2024

Raise funds and secure resources to support kern medicals facilities, services, research and patient-care programs, thereby promoting improved health, safety and community welfare.kern medical foundation continues to steward funds from the $9.2m received from California health facilities authority for kern medical pediatrics inpatient and outpatient renovation. Kern medical foundation, on behalf of kern medical, was awarded $6m for what will be the new vfi clinic and for two new mobile clinics from the health resources and services administration. Kern medical foundation continues to receive $100,000 per year, over $1m in total, from the center of inherited blood disorders for kern medicals sickle cell program and clinic. Kern medical foundation received over $19,000 from health career exploration program to support expose students to health careers from health care access and information. Kern medical foundation, on behalf of kern medical, was awarded $3m from kern health systems to support provider recruitment and retention, healthcare workforce expansion and quality grant program that will enhance the quality of care delivered to members with the goal of increasing preventative health services and closing gaps in care. Kern medical foundation was awarded over $1m for psychiatric education capacity expansion program from department of health care access and information for increasing the supply of psychiatrics and public mental health practioners. Kern medical foundation received $300,000 from the cdc for valey fever education and awareness through our cooperative agreement; improving clinical and public health outcomes through national partnerships to prevent and control emerging and re-emerging infectious disease threats. Kern medical foundation, on behalf of the valley fever institute at kern medical, was awarded a subaward agreement under a u19 research grant with ucla. Enrollment in host immunogenetics and fungal virulence mechanisms in coccidioidomycosis started in 2022 and will continue through 2027. Kern medical foundation, on behalf of the valley fever institute at kern medical, enrolled in a clinical trial of a novel antifungal; olorofim for treatment of invasive fungal infections (ifi) due to moulds in patients with limited or no treatment options: interim results from a phase 2b open-label study.

Financial Efficiency

• Mission deployment rate: 37.5%; rating input score 38
• Program expense ratio: 26.8%; rating input score 27
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Fail
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -0.5%; rating input score 34; 34th percentile among comparable filings
• Total-asset coverage ratio: 5.73; rating input score 86; 86th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 3.9% per year; rating input score 100; 36th percentile among comparable filings
• Revenue growth: 2.5% per year; rating input score 100; 28th percentile among comparable filings
• Asset growth: 12.9% per year; rating input score 100; 67th percentile among comparable filings