Civic Intelligence

Mcleod Medical Center Foundation

990 • Fiscal year 2019 • EIN 57-0818672

Oct 01, 2018 to Sep 30, 2019 • Filed on Jul 31, 2020

PO Box 100551Florence, SC 29506

(843) 777-2256

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

47th percentile

0.17x

Higher debt load relative to assets than 47% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.29x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

77th percentile

18%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

95th percentile

$841,558

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

76th percentile

14%

Faster asset growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

71st percentile

13%

Faster revenue growth than 71% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$16,293,581

Up $2,036,212 (+14%) from 2018

Net Assets

Up

$13,453,936

Up $1,746,282 (+15%) from 2018

Liabilities

Up

$2,839,645

Up $289,930 (+11%) from 2018

Revenue

Up

$9,891,069

Up $1,105,679 (+13%) from 2018

Expenses

Down

$8,122,407

Down $1,365,254 (-14%) from 2018

Net Income

Up

$1,768,662

Up $2,470,933 (+352%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2010: $6,383,962Liabilities 2010: $440,113Net Assets 2010: $5,943,8492010Assets 2011: $8,395,446Liabilities 2011: $394,821Net Assets 2011: $8,000,6252011Assets 2012: $7,673,945Liabilities 2012: $424,146Net Assets 2012: $7,249,7992012Assets 2013: $8,421,204Liabilities 2013: $789,855Net Assets 2013: $7,631,3492013Assets 2014: $8,550,582Liabilities 2014: $429,791Net Assets 2014: $8,120,7912014Assets 2015: $10,170,608Liabilities 2015: $1,197,247Net Assets 2015: $8,973,3612015Assets 2016: $11,888,944Liabilities 2016: $2,038,152Net Assets 2016: $9,850,7922016Assets 2017: $14,316,030Liabilities 2017: $1,844,429Net Assets 2017: $12,471,6012017Assets 2018: $14,257,369Liabilities 2018: $2,549,715Net Assets 2018: $11,707,6542018Assets 2019: $16,293,581Liabilities 2019: $2,839,645Net Assets 2019: $13,453,9362019Assets 2020: $16,699,520Liabilities 2020: $2,450,476Net Assets 2020: $14,249,0442020Assets 2021: $18,821,181Liabilities 2021: $2,780,719Net Assets 2021: $16,040,4622021Assets 2022: $21,679,285Liabilities 2022: $4,617,148Net Assets 2022: $17,062,1372022Assets 2023: $27,847,011Liabilities 2023: $7,335,425Net Assets 2023: $20,511,5862023Assets 2024: $32,288,828Liabilities 2024: $9,886,475Net Assets 2024: $22,402,3532024

Highlighted filing

2019

Assets$16,293,581
Liabilities$2,839,645
Net Assets$13,453,936

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,685,8222010Expenses 2011: $3,255,7272011Expenses 2012: $5,437,2142012Expenses 2013: $3,927,7842013Revenue 2014: $4,464,573Expenses 2014: $4,057,796Net Income 2014: $406,7772014Revenue 2015: $6,642,005Expenses 2015: $5,591,391Net Income 2015: $1,050,6142015Revenue 2016: $6,976,863Expenses 2016: $5,985,113Net Income 2016: $991,7502016Revenue 2017: $9,832,101Expenses 2017: $6,912,973Net Income 2017: $2,919,1282017Revenue 2018: $8,785,390Expenses 2018: $9,487,661Net Income 2018: -$702,2712018Revenue 2019: $9,891,069Expenses 2019: $8,122,407Net Income 2019: $1,768,6622019Revenue 2020: $10,345,040Expenses 2020: $9,794,421Net Income 2020: $550,6192020Revenue 2021: $10,718,448Expenses 2021: $9,147,025Net Income 2021: $1,571,4232021Revenue 2022: $14,062,934Expenses 2022: $12,033,430Net Income 2022: $2,029,5042022Revenue 2023: $13,627,230Expenses 2023: $10,911,168Net Income 2023: $2,716,0622023Revenue 2024: $16,725,616Expenses 2024: $16,067,000Net Income 2024: $658,6162024

Highlighted filing

2019

Revenue$9,891,069
Expenses$8,122,407
Net Income$1,768,662
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Jul 31, 2020
Return Version
2018v3.3
Gross Receipts
$10,249,626
Mission and Program Overview

Mission

The mission of mcleod health foundation is to generate philanthropic and community support to perpetuate medical excellence at mcleod health

Mission is to generate support to perpetuate medical excellence at mcleod health

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$8,525,734$7,537,489▼ $988,245
Investments in Publicly Traded Securities$759,020$6,058,126▲ $5,299,106
Pledges and Grants Receivable$2,089,581$2,007,325▼ $82,256
Cash and Non-Interest-Bearing Accounts$2,844,334$682,186▼ $2,162,148
Land, Buildings, and Equipment, Net$9,947$8,455▼ $1,492
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$14,257,369$16,293,581▲ $2,036,212
Other Assets Total$28,753$0▼ $28,753
Liabilities
Grants Payable$1,623,554$1,504,387▼ $119,167
Other Liabilities$820,072$1,196,773▲ $376,701
Accounts Payable and Accrued Expenses$106,089$138,485▲ $32,396
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,549,715$2,839,645▲ $289,930
Net Assets / Fund Balance
Unrestricted Net Assets$5,548,427$7,294,709▲ $1,746,282
Temporarily Rstr Net Assets$5,351,691$5,351,691→ $0
Permanently Rstr Net Assets$807,536$807,536→ $0
Total Net Assets Fund Balance$11,707,654$13,453,936▲ $1,746,282
Total Liabilities and Net Assets / Fund Balance$14,257,369$16,293,581▲ $2,036,212

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,455$42,053$50,508
Other Securities$37,619--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$4,410,787$297,910▲ $146,168$132,611$4,702,331
2017$3,645,314$844,251▲ $137,772$194,852$4,410,787
2016$3,486,814$982,979▲ $99,300$902,324$3,645,314
2015$3,241,665$75,000▲ $937,295$745,198$3,486,814
2014$3,260,318$55,000▼ $38,405-$3,241,665
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jill BramblettExecutive DirectorFT$209,659$63,639$273,298
Karen R Hill MdVice Chair--$119,189$119,189
Revenue and Support

Revenue Composition

Contributions and Grants
$9,827,087
Program Service Revenue
$0
Investment Income
$272,720
Other Revenue
$-208,738
All Other Contributions
$9,113,073
Change in Net Assets
$1,768,662

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table29$16,099Fair Market Value (FMV) estimate
Clothing and Household Goods-$9,278Fair Market Value (FMV) estimate
Other Non Cash Contri Table12$6,066Fair Market Value (FMV) estimate
Food Inventory23$4,215Fair Market Value (FMV) estimate
Works of Art6$2,225Fair Market Value (FMV) estimate
Other Non Cash Contri Table2$990Fair Market Value (FMV) estimate
Total Noncash Contributions72$38,873-

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,891,069
Revenue Not Reported on Form 990
$336,177
Total Revenue per Audited Statements
$10,227,246
Total Revenue per Form 990
$9,891,069
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,073,291
Total Fundraising Expense$1,358,871
Salaries, Compensation, and Employee Benefits$1,144,477
Other Expenses$904,639
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,046,355--$6,046,355
Comp Disqual Persons$114,200$38,822$491,407$644,429
Current Officers, Directors, Trustees, and Key Employees-$90,191$210,445$300,636
Office Expenses$32,095$30,180$186,328$248,603
Fees for Services Other$102,635-$102,635$205,270
Other Employee Benefits$25,744$24,209$149,459$199,412
Advertising$84,572-$84,572$169,144
Other Expenses$13,849$13,024$80,405$107,278
Grants to Domestic Individuals$26,936--$26,936
Travel$1,497$1,408$8,691$11,596
Conferences and Meetings$1,011$951$5,871$7,833
Insurance$1,775--$1,775
Depreciation Depletion$1,492--$1,492
Total Functional Expenses$6,558,425$205,111$1,358,871$8,122,407

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$8,480,964
Expenses per Audited Statements$8,122,407
Total Expenses per Form 990$8,122,407
Expenses Not Reported on Form 990$358,557
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
McLeod Regional Medical CenterFlorence, SC501(c)(3)Health Services$5,187,850
McLeod LorisSeacoast HospitalFlorence, SC501(c)(3)Health Services$817,539
McLeod Medical Center DillonFlorence, SC501(c)(3)Health Services$22,318
McLeod Health ClarendonFlorence, SC501(c)(3)Health Services$11,513
McLeod Health CherawFlorence, SC501(c)(3)Health Services$7,135
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$358,557
Fundraising Gross Income$149,819
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Benefit$149,630$14,135$160,235$-146,100
Cancer Benefit$143,525$10,825$15,015$-4,190
Total Events$629,107$149,819$358,557$-208,738
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Aiken and CompanyBoard MemberIndependent ContractorNo$2,514,587
Pee Dee Pathology AssociatesBoard MemberIndependent ContractorNo$1,260,396

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Intercompany Payables$1,196,194
Miscelleaneous$579
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990 Part VI, Line 6

Mcleod health foundation has a sole member which is mcleod health.

Form 990 Part VI, Line 7A

The board of mcleod health (sole member) has the final authority as needed on the makeup and decision-making of mcleod health foundation's board.

Form 990 Part VI, Line 7B

The board of mcleod health (sole member) has the final authority as needed on the makeup and decision-making of mcleod health foundation's board.

Form 990, Part VI, Line 11B

The process the organization uses to review the form 990 consists of providing electronic copies of the form 990 to each member of the finance committee of mcleod health (sole member) along with an electronic slide presentation covering form 990 by the preparing firm, kpmg llp, to allow for a thorough review before the filing date of august 17, 2020.

Form 990, Part VI, Line 12C

Mcleod health foundation regularly and consistently monitors and enforces compliance with the conflict of interest policy in that any director, principal officer, or member of a committee with governing board delegated powers, who has a direct or indirect financial interest, must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of the committees with governing board delegated powers considering the proposed transaction or arrangement. The remaining individuals on the governing board or committee meeting will decide if conflicts of interest exist. Each director, principal officer, and member of a committee with governing board delegated powers annually signs a statement which affirms such person has received a copy of the conflicts of interest policy, has read and understands the policy, has agreed to comply with the policy, and understands that the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish its tax-exempt purpose. Yes, each board member signs a conflict of interest statement each year.

Form 990, Part VI, Line 15B

In determining compensation of mcleod health foundation's executive director, the process included a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision. In the review of compensation, the executive director was compared to other similarly situated organizations and positions. Individual was not present when compensation was determined..

Form 990, Part VII, Line 19

The governing documents, conflict of interest policy, and financial statements are not available to the public upon request. However, the organization's form 990 provides financial information, and addresses issues of governance such as the organization's conflict of interest and governance policy.

Filing and Contact Details

Filer

Filer Name
Mcleod Health Foundation
EIN
57-0818672
In Care Of
% MARK CAMERON
Phone
8437772256
Address
PO BOX 100551, FLORENCE, SC 29506

Signing Officer

Name
S Fulton Ervin Iii
Title
CFO of System
Phone
8437772256
Signed
2020-07-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Colones CEO of System
Formed
1986
Legal Domicile
Sc
Voting Board Members
29
Independent Board Members
27
Employees
19
Volunteers
200

Preparer

Firm
Kpmg Llp
Address
300 North Greene Street Suite 400, Greensboro, NC 27401
Preparer
Laura a Collins CPA
Phone
3362753394
Supplemental Narrative

Additional Explanations

Form 990 Part III Line 4A

MCLEOD HEALTH FOUNDATION IS A SUBSIDIARY COMPANY OF MCLEOD HEALTH. The Mission of the McLeod Health Foundation is to generate philanthropic and community support to perpetuate medical excellence at McLeod Health. Thanks to the generosity of this region, the Foundation has provided support for many programs at McLeod Health. These programs include support for McLeod Children's Hospital, The Guest House at McLeod, McLeod Hospice, McLeod Cancer Center for Treatment and Research and McLeod Diabetes Services just to name a few. Simply put the Foundation funds better health for thousands of families throughout Northeastern South Carolina and Southeastern North Carolina. McLeod Health Foundation was proud to be a part of the following initiatives: The McLeod Center for Cancer Treatment and Research received grant funding for the Helping Oncology Patients Everyday (HOPE) Fund. The HOPE Fund provides assistance to oncology patients through various means including: transportation either through gas cards or van transport to the Cancer Center for treatment; medication assistance for patients who cannot afford emergently needed medications associated with their cancer diagnosis; educational materials for the Cancer Center Library and for patients to take home; and items for the HOPE Cart, a cart of materials including magazines, books, headphones and snacks that help the patients pass the time during their treatments in the Cancer Center. The HOPE Fund also supports other immediate needs including home medical equipment, shoes, glasses, and dentures. McLeod Hospice receive a grant to support the Hospice program. The McLeod Hospice mission in part, is to provide care for all patients regardless of their ability to pay. Through the support of the McLeod Foundation, these hospice patients will continue to receive inpatient care at the McLeod Hospice House, needed medications and supplies, and home visits by McLeod Hospice staff. The grant also provides funding for bereavement services, a children's grief camp, and music therapy. The McLeod Heart and Vascular Institute was awarded funding to benefit congestive heart failure and cardiac rehabilitation patients. The grant helps provide the necessary supplies and equipment for congestive heart failure patients to self-manage their disease and improve their quality of life. McLeod Cardiac Rehabilitation is available to patients who are recovering from a heart attack, open-heart surgery, have stable angina, or have a high risk for heart disease. This grant allows Cardiac Rehabilitation to increase the quantity and improve the quality of exercise equipment offered to patients. This expansion also allows the program to provide services to additional cardiac and pulmonary patients. The Cardiac Rehabilitation Program at McLeod Dillon and McLeod Cheraw also were granted funding for patient scholarships. Through the scholarships, financially challenged patients are able to attend and receive valuable cardiac monitoring and daily blood pressure and pulse monitoring while completing a specialized exercise routine. A grant awarded to the McLeod Diabetes Program for adults and children provides scholarships for patients to receive diabetes testing supplies and follow-up education services to help them manage their disease. The grant also allows the program to continue delivering the highest quality of programs and services to patients both in the inpatient and outpatient setting, and at community screenings and health fairs as well as providing support for children to attend a Diabetes Camp to learn about managing their illness. McLeod Home Health was granted funding for the McLeod Home Health Care Program to assist Home Health patients who are not able to purchase needed medications, transportation for medical treatment, medical supplies, nutritional needs, educational materials and equipment. It also assists in paying various cost of living expenses. McLeod Children's Hospital, Pediatric Intensive Care Un

Financial Statement Notes

Sch D, Part X, Line 2

Mcleod health and its not-for-profit subsidiaries have been recognized by the internal revenue service as exempt from tax under the provisions of internal revenue code (irc) section 501(a) as entities described under irc section 501(c)(3). Accordingly, no provision for income taxes on related income has been recorded in the accompanying consolidated financial statements.

Part XI Line 2D and Part XII Line 2D

Special event expenses reclassed from expenses to revenues.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$32.3$9.89$22.4$16.7$16.1$0.66
2023Detailed filing. Detailed filing data is available for this year.$27.8$7.34$20.5$13.6$10.9$2.72
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.7$4.62$17.1$14.1$12.0$2.03
2021Detailed filing. Detailed filing data is available for this year.$18.8$2.78$16.0$10.7$9.15$1.57
2020Detailed filing. Detailed filing data is available for this year.$16.7$2.45$14.2$10.3$9.79$0.55
2019Detailed filing. Detailed filing data is available for this year.$16.3$2.84$13.5$9.89$8.12$1.77
2018Detailed filing. Detailed filing data is available for this year.$14.3$2.55$11.7$8.79$9.49$0.70
2017Detailed filing. Detailed filing data is available for this year.$14.3$1.84$12.5$9.83$6.91$2.92
2016Detailed filing. Detailed filing data is available for this year.$11.9$2.04$9.85$6.98$5.99$0.99
2015Detailed filing. Detailed filing data is available for this year.$10.2$1.20$8.97$6.64$5.59$1.05
2014Detailed filing. Detailed filing data is available for this year.$8.55$0.43$8.12$4.46$4.06$0.41
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.42$0.79$7.63$3.93
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.67$0.42$7.25$5.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.40$0.39$8.00$3.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.38$0.44$5.94$2.69