MEMORIAL FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1981

Legal Domicile

Principal Officer

KELLEY E MORRIS

Phone

9542653454

Tax Period

2024-01-01 to 2024-12-31

MEMORIAL FOUNDATION INC, founded in 1981, is a community nonprofit that reported $6.9M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $10.7M exceeded revenue, resulting in a 55% operating deficit.

Mission

TO UNDERWRITE THE COSTS OF EQUIPMENT, PROGRAMS, OR SERVICES PROVIDED BY SOUTH BROWARD HOSPITAL DISTRICT AND PROVIDE FUNDING FOR EDUCATIONAL, RECREATIONAL, AND THERAPEUTIC PROGRAMS FOR ITS PATIENTS AND FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $7,750,000

PROVIDE FUNDING TO SOUTH BROWARD HOSPITAL DISTRICT TO PURCHASE MEDICAL EQUIPMENT AND MAKE RENOVATIONS.

Program 2

Expenses: $2,069,530

PROVIDE FUNDING FOR EDUCATIONAL, THERAPEUTIC AND RECREATIONAL ACTIVITIES TO PATIENTS OF SOUTH BROWARD HOSPITAL DISTRICT.

Program 3

Expenses: $217,614

PROVIDE FUNDING FOR INDIGENT PATIENTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,954,239

Program Service Revenue $0

Investment Income $955,014

Other Revenue $-614

TOTAL REVENUE $6,908,639

Expense Breakdown

Grants Paid $10,187,144

Salaries & Benefits $0

Fundraising Expenses $185,121

Program Expenses $10,187,144

Other Expenses $519,945

TOTAL EXPENSES $10,707,089

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,908,639	$5,323,921	+0.3%
Expenses	$10,707,089	$8,281,349	+0.3%
Net Income	$-3,798,450	$-2,957,428	+0.3%

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

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

100

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRETT ROSE	CHAIRMAN	3.00	Officer Director	$0	$0	$0
ANDREW J GREENFIELD	IMMEDIATE PAST CHAIRMAN	2.00	Officer Director	$0	$0	$0
BETH-ANN KRIMSKY	1ST VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
ALLAN BUDELMAN	2ND VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
ELDEN LEGAUX	TREASURER	2.00	Officer Director	$0	$0	$0
SUSANNE CORNFELD HUROWITZ	SECRETARY	2.00	Officer Director	$0	$0	$0
GREGORY GREENE	AT LARGE MEMBER	2.00	Officer Director	$0	$0	$0
SEAN DEVINEY	AT LARGE MEMBER	2.00	Officer Director	$0	$0	$0
CHRISTOPHER BARNETT	DIRECTOR	1.00	Director	$0	$0	$0
NINA BEAUCHSNE	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
STEVEN BECKER	DIRECTOR	1.00	Director	$0	$0	$0
ADAM BLOMBERG	DIRECTOR	1.00	Director	$0	$0	$0
AMY SHARE BRENNAN	DIRECTOR	1.00	Director	$0	$0	$0
AMAURY CIFUENTES	DIRECTOR	1.00	Director	$0	$0	$0
DOUGLAS J COLLIER	DIRECTOR	1.00	Director	$0	$0	$0
LINDA COOKE	DIRECTOR	1.00	Director	$0	$0	$0
MITCHELL EISENBERG	DIRECTOR EMERITUS	1.00	Director	$0	$0	$0
JOSEPH EPSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN J FREEDMAN	DIRECTOR	1.00	Director	$0	$0	$0
TOBY GRAY	DIRECTOR	1.00	Director	$0	$0	$0
VEDNER GUERRIER	EX-OFFICIO	1.00	Director	$0	$0	$0
LOUIS HERNANDEZ JR	DIRECTOR	1.00	Director	$0	$0	$0
ATIF HUSSEIN	DIRECTOR	1.00	Director	$0	$0	$0
RANDY KATZ	DIRECTOR	1.00	Director	$0	$0	$0
DARA K LEVAN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER MCFARLANE	DIRECTOR	1.00	Director	$0	$0	$0
LAURA RABIN MILLER	EX-OFFICIO	1.00	Director	$0	$0	$0
MATTHEW MUHART	EX-OFFICIO (UNTIL 6/1/24)	1.00	Director	$0	$0	$0
HOLLY NEVILLE	DIRECTOR	1.00	Director	$0	$0	$0
JASON OLETSKY	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS R OLIVERI	DIRECTOR	1.00	Director	$0	$0	$0
TIFFANY PANCIERA	DIRECTOR	1.00	Director	$0	$0	$0
ALBERTO PEISACH	DIRECTOR	1.00	Director	$0	$0	$0
KAREN PRANGE	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SCHOLL	DIRECTOR	1.00	Director	$0	$0	$0
JAY A SHORR	DIRECTOR	1.00	Director	$0	$0	$0
STUART SIEGEL	DIRECTOR	1.00	Director	$0	$0	$0
CAITLIN STELLA	EX-OFFICIO	1.00	Director	$0	$0	$0
SHANE STRUM	EX-OFFICIO	1.00	Director	$0	$0	$0
MARCIA TABATCHNICK	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN A TOBIAS	DIRECTOR	1.00	Director	$0	$0	$0
K SCOTT WESTER	EX-OFFICIO (UNTIL 9/1/24)	1.00	Director	$0	$0	$0
KEVIN JANSER	PRESIDENT (UNTIL 9/30/24)	20.00	Officer	$0	$0	$0
KELLEY E MORRIS	PRESIDENT	20.00	Officer	$0	$0	$0

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	$6,908,639	$10,707,089	$56,437,782	$-3,798,450
2023	$5,323,921	$8,281,349	$38,411,505	$-2,957,428
2022	$3,530,901	$2,359,861	$33,634,507	$1,171,040
2021	$5,100,992	$2,379,559	$31,871,662	$2,721,433
2020	$3,708,262	$4,015,106	$26,388,498	$-306,844
2019	$2,349,204	$4,168,936	$22,918,778	$-1,819,732
2018	$1,925,097	$1,151,846	$21,160,811	$773,251