Friends of Sumner Regional Medical Center, Inc.
Fiscal Year
Fiscal Year Start
01/01/2024
Fiscal Year End
12/31/2024
Projected Revenue
$24,500.00
Projected Expenses
$27,548.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Friends of Sumner Regional Medical Center IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Revenue | $31,563.00 | $15,028.00 | |
| Total Expenses | $23,040.00 | $22,832.00 | |
| Revenue Less Expenses | ($-0.00) | $8,523.00 | ($7,804.00) |
Revenue Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $0.00 | $0.00 | |
| Contributions, Gifts, and Grants | $29,694.00 | $14,901.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $0.00 | $0.00 | |
| Investment Income, Net of Losses | $1,869.00 | $127.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $0.00 | $0.00 | |
| Revenue In-Kind | $0.00 | $0.00 | |
| Other | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Program Expense | $23,040.00 | $20,111.00 | |
| Administration Expense | $2,369.00 | $2,721.00 | |
| Fundraising Expense | $0.00 | $0.00 | |
| Total Revenue/Total Expenses | 124% | 66% | |
| Program Expense/Total Expenses | 91% | 88% | |
| Fundraising Expense/Contributed Revenue | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, & Grants $29,694.00 | Contributions, Gifts, and Grants $14,901.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Investment Income $1,869.00 | Investment Income $127.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
Assets and Liabilities
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $61,579.00 | $53,056.00 | |
| Current Assets | $56,509.00 | $51,936.00 | |
| Long-Term Liabilities | $0.00 | $0.00 | |
| Current Liabilities | $0.00 | $0.00 | |
| Total Net Assets | $61,579.00 | $53,056.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2025
Solicitations Permit
Form 990s
| Friends of Sumner 2023 990 EZ | 2023 |
| 2022 990 | 2022 |
| FriendsSRMC990EZ | 2021 |
| 2020 Form 990EZ | 2020 |
| 2019 Form 990 | 2019 |
| 2018 Form 990 | 2018 |
| 2017 Form 990 | 2017 |
| 2016 Form 990 | 2016 |
| 2015 Form 990 | 2015 |
| 2014 Form 990 | 2014 |
| Friends of Sumner Regional Medical Center 2013 990 | 2013 |
| Friends of Sumner Regional Medical Center 2012 990 | 2012 |
| Friends of Sumner Regional Medical Center 2011 990 | 2011 |
Audit Documents
No audit documents are available at this time
CEO/Executive Director/Board Comments
| Friends of SRMC's annual financials are documented by Davis, Brown CPAs of Hendersonville. Differences in revenues and expenses were a challenge in 2010 and 2011 due to the organization's having to operate and pay salaries for the hospital's gift and coffee shop. In early 2014, the hospital purchased the reduced assets of the gift shop which relieved the Friends organization of daily operation and financial responsibility. As a result, the non-profit began dedicating its fundraising efforts to benefit 5 patient-centered projects--Food Pantry, Gas Vouchers, Clothes Closet, SleepSacks for SRMC newborns, and Cancer Support in addition to providing a medical scholarship at the local community college. 2024 Update - Lisa Millman, CPA now handles year audit of financial statements. We continue to have five main programs at the hospital that Friends of Sumner Regional Medical Center provides support for. They are food pantry, transportation aide, compression garments, infant sleep sacks, and clothing bank. We continue to work with the public to raise fund for programs through grants and donations. |
Foundation Staff Comments
| Financial figures taken from Form 990EZ only. Form 990 EZ was prepared by Millman CPA Strategic Solutions, PC. Comment Provided by Hayley Sulfridge 8/14/24. |
