SARASOTA MEMORIAL HEALTHCARE FOUNDATION INC

EIN: 510188568 501(c)(3) Health Care

SARASOTA, FL

Total Revenue
$35,433,550
Total Expenses
$13,125,211
Total Assets
$167,856,429
Net Assets
$158,830,975
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1976
Legal Domicile
FL
Principal Officer
STACEY CORLEY
Phone
9419171286
Tax Period
2023-10-01 to 2024-09-30

SARASOTA MEMORIAL HEALTHCARE FOUNDATION INC, founded in 1976, is a mid-sized nonprofit in the Health Care sector that reported $35.4M in total revenue in fiscal year 2023. Revenue surged 93% from the prior year, signaling strong growth momentum. The organization ran a surplus of $22.3M, a strong 63% operating margin.

Mission

SARASOTA MEMORIAL HEALTHCARE FOUNDATION, INC. IS AN INDEPENDENT FUNDRAISING ORGANIZATION WORKING WITH SARASOTA MEMORIAL HEALTH CARE SYSTEM AND OTHERS TO ENSURE THE HIGHEST QUALITY HEALTHCARE IS ACCESSIBLE AND MEETS THE NEEDS OF OUR COMMUNITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $29,586,330
Program Service Revenue $0
Investment Income $4,546,476
Other Revenue $1,300,744
TOTAL REVENUE $35,433,550

Expense Breakdown

Grants Paid $9,282,322
Salaries & Benefits $2,237,003
Fundraising Expenses $2,168,717
Program Expenses $9,282,322
Other Expenses $1,585,474
TOTAL EXPENSES $13,125,211

Year-over-Year Comparison

2023 2022 Change
Revenue $35,433,550 $18,368,153 +0.9%
Expenses $13,125,211 $9,389,378 +0.4%
Net Income $22,308,339 $8,978,775 +1.5%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
20
Independent Members
20
Employees
N/A
Volunteers
117

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$364,535
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT G BARTNER TRUSTEE 5.00
Director
$0 $0 $0
CARL W BATTLE TRUSTEE 5.00
Director
$0 $0 $0
GARY DORNBUSH TRUSTEE 5.00
Director
$0 $0 $0
ROBERT ESSNER TRUSTEE 5.00
Director
$0 $0 $0
THOMAS F KELLY MD TRUSTEE 5.00
Director
$0 $0 $0
TERRY LUNDGREN TRUSTEE 5.00
Director
$0 $0 $0
GWEN MACKENZIE TRUSTEE 5.00
Director
$0 $0 $0
DIANE MAYER TRUSTEE 5.00
Director
$0 $0 $0
JONATHAN E MITCHELL TRUSTEE 5.00
Director
$0 $0 $0
BARBARA RODKIN TRUSTEE 5.00
Director
$0 $0 $0
SAM SCOTT TRUSTEE 5.00
Director
$0 $0 $0
JON SODERBERG TRUSTEE 5.00
Director
$0 $0 $0
SANDRA STUART TRUSTEE 5.00
Director
$0 $0 $0
DAVID VERINDER TRUSTEE 5.00
Director
$0 $0 $0
KIRK VOELKER MD TRUSTEE 5.00
Director
$0 $0 $0
JOEL MORGANROTH MD SECRETARY 10.00
Officer Director
$0 $0 $0
ROBERT LEE WOOD VICE CHAIR 10.00
Officer Director
$0 $0 $0
DEBORAH KABINOFF CHAIR 10.00
Officer Director
$0 $0 $0
PHILIP A DELANEY JR IMMEDIATE PAST CHAIR 5.00
Officer Director
$0 $0 $0
ERIC SPIEGEL TREASURER 10.00
Officer Director
$0 $0 $0
STACEY CORLEY PRESIDENT 50.00
Officer
$323,606 $40,929 $364,535
SALLY A SCHULE DIRECTOR OF COMMUNITY ENGAGEMENT 50.00
Highest
$174,003 $22,055 $196,058
PATRICIA MAHLER DIR. OF COMMUNICATIONS 50.00
Highest
$166,419 $16,514 $182,933
PATRICK J MCQUILLAN DIR. OF DEVELOPMENT 50.00
Highest
$166,005 $35,339 $201,344
CRAIG A MORAN DIR. OF DEVELOPMENT 50.00
Highest
$175,776 $26,054 $201,830
MICHELLE BUTLER DIR. OF DEVELOPMENT 50.00
Highest
$160,423 $35,667 $196,090
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $35,433,550 $13,125,211 $167,856,429 $22,308,339
2023 $18,368,153 $9,389,378 $139,004,778 $8,978,775
2022 $45,874,936 $21,544,068 $130,865,564 $24,330,868
2021 $26,224,051 $11,638,394 $111,119,504 $14,585,657
2020 $47,413,384 $8,928,430 $91,301,745 $38,484,954
2019 $16,317,202 $8,294,637 $56,851,119 $8,022,565
2018 $12,540,677 $8,394,078 $49,991,121 $4,146,599
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