Sarasota Memorial Healthcare Foundation
Together We Strengthen Healthcare
Sarasota Memorial Healthcare Foundation
EIN: 51-0188568
Programs and results
Reports and documents
Download annual reportsWhat we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Sarasota Memorial Health Care System
Sarasota Memorial Healthcare Foundation is proud to partner with Sarasota Memorial Health Care System. Grants made by the Healthcare Foundation support patient care, research, education, technology and facilities at Sarasota Memorial.
Through the support of our community, the Healthcare Foundation has helped to ensure that Sarasota Memorial ranks among the best health systems in the nation. Thanks to our generous donors, the Healthcare Foundation has recently provided grants for:
• Behavioral Health programs
• Breast Health diagnostics and patient resources
• Cancer Care programs
• Cardiac Nurse Navigator program
• Community Specialty Clinic
• Employee education, professional development, and health and wellness programs
• Facility upgrades and equipment
• Music Therapy program and other patient care
• RENEW community wellness program
• Women’s Cancer Care research
Where we work
External reviews
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Total number of grants awarded
This metric is no longer tracked.Totals By Year
Population(s) Served
People with diseases and illnesses, Adults, Children and youth, Economically disadvantaged people
Related Program
Sarasota Memorial Health Care System
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Average grant amount
This metric is no longer tracked.Totals By Year
Population(s) Served
People with diseases and illnesses, Adults, Children and youth, Economically disadvantaged people
Related Program
Sarasota Memorial Health Care System
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Total dollar amount of grants awarded
This metric is no longer tracked.Totals By Year
Population(s) Served
People with diseases and illnesses, Adults, Children and youth, Economically disadvantaged people
Related Program
Sarasota Memorial Health Care System
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Goals & Strategy
Reports and documents
Download strategic planHow we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals
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Which of the following feedback practices does your organization routinely carry out?
We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive
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What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2022 info
5.01
Months of cash in 2022 info
4.4
Fringe rate in 2022 info
11%
Funding sources info
Assets & liabilities info
Financial data
Sarasota Memorial Healthcare Foundation
Revenue & expensesFiscal Year: Oct 01 - Sep 30
Sarasota Memorial Healthcare Foundation
Balance sheetFiscal Year: Oct 01 - Sep 30
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Oct 01 - Sep 30
This snapshot of Sarasota Memorial Healthcare Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | -$799,205 | -$1,706,514 | -$2,115,493 | $3,201,002 | -$2,809,268 |
As % of expenses | -9.6% | -20.7% | -23.8% | 27.6% | -13.1% |
Unrestricted surplus (deficit) after depreciation | -$873,493 | -$1,758,634 | -$2,166,556 | $3,159,696 | -$2,847,103 |
As % of expenses | -10.4% | -21.2% | -24.3% | 27.1% | -13.2% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $12,540,677 | $16,317,202 | $47,413,384 | $26,224,051 | $45,874,936 |
Total revenue, % change over prior year | 156.5% | 30.1% | 190.6% | -44.7% | 74.9% |
Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 5.8% | 7.4% | 1.5% | 2.7% | 2.0% |
Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
All other grants and contributions | 79.7% | 86.6% | 86.3% | 89.8% | 93.9% |
Other revenue | 14.5% | 6.0% | 12.2% | 7.5% | 4.1% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $8,319,790 | $8,242,517 | $8,877,367 | $11,597,088 | $21,506,233 |
Total expenses, % change over prior year | 85.1% | -0.9% | 7.7% | 30.6% | 85.4% |
Personnel | 20.9% | 22.4% | 22.1% | 16.0% | 8.1% |
Professional fees | 2.8% | 2.7% | 2.6% | 1.4% | 0.6% |
Occupancy | 0.6% | 0.6% | 0.6% | 0.4% | 0.2% |
Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Pass-through | 65.9% | 64.1% | 65.7% | 75.9% | 86.9% |
All other expenses | 9.8% | 10.2% | 9.1% | 6.3% | 4.2% |
Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Total expenses (after depreciation) | $8,394,078 | $8,294,637 | $8,928,430 | $11,638,394 | $21,544,068 |
One month of savings | $693,316 | $686,876 | $739,781 | $966,424 | $1,792,186 |
Debt principal payment | $0 | $0 | $0 | $0 | $0 |
Fixed asset additions | $93,761 | $0 | $58,344 | $0 | $0 |
Total full costs (estimated) | $9,181,155 | $8,981,513 | $9,726,555 | $12,604,818 | $23,336,254 |
Capital structure indicators
Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Months of cash | 5.9 | 8.9 | 10.0 | 11.1 | 4.4 |
Months of cash and investments | 56.2 | 63.3 | 71.1 | 71.9 | 39.6 |
Months of estimated liquid unrestricted net assets | 21.4 | 19.0 | 14.7 | 14.6 | 6.3 |
Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Cash | $4,101,450 | $6,101,703 | $7,420,255 | $10,761,325 | $7,805,426 |
Investments | $34,877,596 | $37,352,204 | $45,200,763 | $58,681,503 | $63,078,883 |
Receivables | $6,996,576 | $6,378,614 | $30,840,565 | $28,232,494 | $45,695,398 |
Gross land, buildings, equipment (LBE) | $831,873 | $861,624 | $919,968 | $820,043 | $828,187 |
Accumulated depreciation (as a % of LBE) | 81.2% | 84.4% | 84.6% | 88.3% | 92.0% |
Liabilities (as a % of assets) | 19.7% | 15.5% | 11.2% | 10.0% | 10.8% |
Unrestricted net assets | $14,961,150 | $13,202,516 | $11,035,960 | $14,195,656 | $11,348,553 |
Temporarily restricted net assets | $16,443,172 | $25,974,769 | N/A | N/A | N/A |
Permanently restricted net assets | $8,740,671 | $8,841,795 | N/A | N/A | N/A |
Total restricted net assets | $25,183,843 | $34,816,564 | $70,057,347 | $85,782,661 | $105,360,872 |
Total net assets | $40,144,993 | $48,019,080 | $81,093,307 | $99,978,317 | $116,709,425 |
Key data checks
Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
President
Stacey Corley
Stacey Corley joined Sarasota Memorial Healthcare Foundation as president in September 2022. Prior to joining the Healthcare Foundation, Ms. Corley served as Vice President for Advancement at Ringling College of Art and Design. She originally joined that organization in 2012 as a Senior Development Officer, becoming Assistant Vice President for Strategic Philanthropy in 2014. Previously, Stacey served as Associate Director for Development for Florida State University Foundation/The John and Mable Ringling Museum of Art. She also worked 10 years for Bristol-Myers Squibb in various roles including Senior Hospital Business Manager.
In the community, she has held leadership positions with multiple local and national organizations including Ringling College Library Association, Association of Fundraising Professionals and Junior League of Sarasota, and is a member of Sarasota Women’s Alliance.
Number of employees
Source: IRS Form 990
Sarasota Memorial Healthcare Foundation
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
Sarasota Memorial Healthcare Foundation
Highest paid employeesSOURCE: IRS Form 990
Compensation data
Sarasota Memorial Healthcare Foundation
Board of directorsas of 01/29/2024
Board of directors data
Deborah Kabinoff
Robert Wood
Philip A. Delaney, Jr.
Immediate-Past Chair
Joel Morganroth, M.D.
Secretary
Sandra Stuart
Robert G. Bartner
Carl W. Battle
Gary Dornbush
Thomas F. Kelly, M.D.
Diane M. Mayer
Jonathan E. Mitchell
Barbara Rodkin
Jon Soderberg
Eric Spiegel
Treasurer
David Verinder
Kirk G. Voelker, M.D.
Gwen MacKenzie
Contractors
Fiscal year endingProfessional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G