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Sarasota Memorial Healthcare Foundation

Together We Strengthen Healthcare

Sarasota, FL   |  WWW.SMHF.ORG
GuideStar Charity Check

Sarasota Memorial Healthcare Foundation

EIN: 51-0188568


Mission

Sarasota Memorial Healthcare Foundation is the philanthropic partner that helps Sarasota Memorial Health Care System bring world-class healthcare to our community. Since 1976, our supporters have helped enhance patient care, facilities and technology, and to support ongoing clinical education and medical research.

Ruling year info

1978

President

Stacey Corley

Main address

1515 South Osprey Ave., Ste B4

Sarasota, FL 34239 USA

Show more contact info

EIN

51-0188568

Subject area info

Health

Community health care

Community mental health care

Population served info

Children and youth

Adults

Economically disadvantaged people

People with diseases and illnesses

NTEE code info

Fund Raising and/or Fund Distribution (E12)

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

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

Population(s) Served
Adults
Children and youth
People with diseases and illnesses
Economically disadvantaged people
Emergency responders

Where we work

Our results

SOURCE: Self-reported by organization

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

SOURCE: Self-reported by organization

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • 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

  • 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

  • What challenges does the organization face when collecting feedback?

    We don't have any major challenges to collecting feedback

Financials

Sarasota Memorial Healthcare Foundation
Fiscal year: Oct 01 - Sep 30
Financial documents
2022 SMH Released FS FY2022 2021 Audited Financials
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

5.01

Average of 4.95 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

4.4

Average of 6.6 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

11%

Average of 15% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Sarasota Memorial Healthcare Foundation

Revenue & expenses

Fiscal Year: Oct 01 - Sep 30

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Sarasota Memorial Healthcare Foundation

Balance sheet

Fiscal Year: Oct 01 - Sep 30

SOURCE: IRS Form 990 info

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 ending: cloud_download Download Data

Sarasota Memorial Healthcare Foundation

Financial trends analysis Glossary & formula definitions

Fiscal Year: Oct 01 - Sep 30

SOURCE: IRS Form 990 info

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.

Created in partnership with

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
Form 1023/1024 is not available for this organization

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 employees

SOURCE: IRS Form 990

Compensation
Other
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Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

Sarasota Memorial Healthcare Foundation

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

Sarasota Memorial Healthcare Foundation

Board of directors
as of 04/08/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Deborah Kabinoff


Board co-chair

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 ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser