Memorial Medical Center Foundation
Nonprofit profile at a glance
- EIN
- 956105984
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Long Beach, CA, USA
- Phone
- 5629334483
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Health - General and Rehabilitative N.E.C.
Reported finances
- Revenue
- $15,237,041
- Expenses
- $14,587,753
- Assets
- $305,012,755
- Liabilities
- $17,004,566
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- BLAIR KENT (BOARD MEMBER(THRU12/25),CEO/EVP,LBMMC & MCWH)
- YAIR KATZ (FORMER CFO(THRU 12/22)/CEO MCWH+SVP)
- JOHN BISHOP (FORMER BOARD MEMBER, CEO/EVP LBMMC)
- ROBERT GUNSALUS (BOARD MEMBER, PRESIDENT)
Highest reported compensation
- BLAIR KENT (BOARD MEMBER(THRU12/25),CEO/EVP,LBMMC & MCWH): $1,547,185 total reported compensation
- YAIR KATZ (FORMER CFO(THRU 12/22)/CEO MCWH+SVP): $1,185,909 total reported compensation
- JOHN BISHOP (FORMER BOARD MEMBER, CEO/EVP LBMMC): $725,067 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To cultivate and secure all types of gifts, grants, bequests, and to administer trust and endowment funds and fund development programs, for long beach memorial medical center, a nonprofit public benefit corporation and tax exempt public charity within the meaning of section 501(c)(3) of the internal revenue code, and its hospitals, including but not limited to long beach memorial medical center and miller children's and women's hospital, and its programs, centers, and clinics.
What it reported doing in 2024
See schedule oa 21-member (19 volunteer) board of directors and finance committee meet quarterly. The investment committee meets quarterly and the nominating committee meets at least annually. The board has helped raise philanthropic gifts, grants and bequests. They provide oversight of investment of assets entrusted and steward the distribution in support of research, medical education, capital equipment and buildings and patient programs at long beach memorial and miller & women's hospital long beach by matching the need with donors' wishes. Their work includes the of all assets in the entire portfolio containing 81 charitable trusts and charitable gift annuities. Since its inception over 50 years ago, community members have given time, talent and treasure to oversee this foundation. Thousands of philanthropic friends gave millions in philanthropic gifts for: (1) medical education;(2) staff and community health care education;(3) patient care initiatives, critical clinical equipment and capital support for construction and renovation;(4) support of a clinical research program through the office of research and research administration; (5) a center for health education, including an electronic medical library, theater and forum where grand rounds and other education and community benefit programs are held; (6) the miller children's & women's hospital long beach, the leavy radiation oncology center, todd cancer institute, the memorial heart and vascular institute, etc. Foundation funds have benefited an untold number of patients, community members, and health care professionals.
Operating model
- Revenue model
- Donor-supported. 79% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 73
- Accountability: 97
- Sustainability: 68
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.5%; rating input score 87
- Program expense ratio: 71.5%; rating input score 72
- Fundraising efficiency: $4.59 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 95%; rating input score 95; 28th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 4.3%; rating input score 51; 51st percentile among comparable filings
- Total-asset coverage ratio: 20.91; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0.06; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 5%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 1.6% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings
Details
- Where the money goes: 86.5% of revenue deployed · 71.5% of spending went to programs
- Governance: 19 of 20 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $10.4M in reported program spending
- Leadership: top reported pay $1.5M · 28 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $253K reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 15 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 18/100.
- Review — Sustainability: Operating margin scored 51/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 50/100.