Faith Family Medical Center
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$3,281,106.00
Projected Expenses
$4,071,195.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Faith Family Medical Center IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $335,240.00 | $4,824,562.00 | $3,769,494.00 |
| Total Expenses | $736,887.00 | $3,317,377.00 | $3,077,520.00 |
| Revenue Less Expenses | ($401,647.00) | $1,507,185.00 | $691,974.00 |
Revenue Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $0.00 | $3,369,498.00 | $2,676,084.00 |
| Indirect Public Support | $335,240.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $235,430.00 | $192,144.00 |
| Investment Income, Net of Losses | $0.00 | $348,955.00 | $313,387.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $560,731.00 | $587,879.00 |
| Other | $0.00 | $309,948.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $606,549.00 | $2,831,435.00 | $2,613,330.00 |
| Administration Expense | $130,338.00 | $182,075.00 | $129,350.00 |
| Fundraising Expense | $0.00 | $303,867.00 | $334,840.00 |
| Total Revenue/Total Expenses | 45% | 145% | 122% |
| Program Expense/Total Expenses | 82% | 85% | 85% |
| Fundraising Expense/Contributed Revenue | 0% | 9% | 11% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $335,240.00 | Contributions, Gifts, Grants $3,369,498.00 | Contributions, Gifts and Grants $2,676,084.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Noncash Contributions $560,731.00 | Noncash Contributions $587,879.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Interest Income $348,955.00 | Investment Income $313,387.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $8,449,506.00 | $19,310,102.00 | $19,310,102.00 |
| Current Assets | $994,649.00 | $4,153,452.00 | $4,153,452.00 |
| Long-Term Liabilities | $8,079,613.00 | $8,500,049.00 | $8,500,049.00 |
| Current Liabilities | $1,807,509.00 | $252,590.00 | $252,590.00 |
| Total Net Assets | $-1,067,616.00 | $10,557,463.00 | $10,557,463.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Thanks to our early funders, Faith Family remains financially strong. Patients pay $25-$60 per visit and many others donate their time, talent, and treasure. Even in these uncertain times in healthcare, what remains is that the care provided by Faith Family will remain vital to our neighbors in need. Please join us in this worthy endeavor. |
Foundation Staff Comments
| Financial figures taken from the Audit. Audit was prepared by Blankenship CPA Group, PLLC. Comments provided by Hayley Sulfridge 8/7/23. |
