Fiscal Year
07/01/2023
06/30/2024
$211,564,000.00
$210,009,000.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Meharry Medical College IRS ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $195,454,877.00 | $173,353,581.00 | $189,798,929.00 |
| Total Expenses | $191,562,193.00 | $159,973,890.00 | $138,793,570.00 |
| Revenue Less Expenses | $3,892,684.00 | $13,379,691.00 | $51,005,359.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| 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 | $73,220,998.00 | $99,315,028.00 | $106,239,091.00 |
| Contributions, Gifts, and Grants | $3,112,051.00 | $3,143,185.00 | $3,204,827.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $67,714,656.00 | $41,910,712.00 | $51,608,444.00 |
| Investment Income, Net of Losses | $0.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $51,407,172.00 | $28,984,656.00 | $28,746,567.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $191,562,193.00 | $126,680,438.00 | $111,141,802.00 |
| Administration Expense | $0.00 | $33,293,452.00 | $27,651,768.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 102% | 108% | 137% |
| Program Expense/Total Expenses | 100% | 79% | 80% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Government Grants $73,220,998.00 | Government Grants $99,315,028.00 | Government Grants $106,239,091.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $67,714,656.00 | Program Revenue $41,910,712.00 | Program Revenue $51,608,444.00 |
| Third Highest Funding Source & Dollar Amount | Other Revenue $51,407,172.00 | Other Revenue $28,984,656.00 | Other Income $28,746,567.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $453,995,291.00 | $416,193,679.00 | $393,027,598.00 |
| Current Assets | $73,133,552.00 | $72,491,665.00 | $45,248,325.00 |
| Long-Term Liabilities | $103,316,339.00 | $53,607,980.00 | $26,900,461.00 |
| Current Liabilities | $5,582,266.00 | $25,817,646.00 | $38,263,044.00 |
| Total Net Assets | $345,096,686.00 | $336,768,053.00 | $327,864,093.00 |
Endowment Info
Yes
$186,942,930.00
Percentage
Capital Campaign Info
Yes
Yes
$200,000,000.00
Through Campaign 150, Meharry Medical College will raise $200 million to build on the first 150 years of the College's success-and to look ahead to the next 150 years. Campaign 150 priorities are focused on 1) Scholarship support ($100 million) to enable more Meharry graduates to practice primary and dental care in underserved communities to promote wellness, address disparities, and reduce healthcare costs, but which large debt loads make difficult to sustain, given lower pay; 2) Faculty support ($25 million) to attract best teacher/scholars who connect in the classroom and who are motivated to conduct nationally recognized research; 3) Programmatic Support ($25 million) to update and integrate data science into curricula, implement research support platforms and new care delivery models, and create consortia with key partners to expand learning beyond the classroom; and 4) Facility Support ($50 million+) Breaking ground on a new comprehensive research building and launching the School of Applied Computational Sciences, which will serve as the center of Meharry's computational sciences in academic training and research.
July 2019
June 2026
October
2023
$135,444,103.00
Solicitation Permit Info
Exempt
Form 990s
Audit Documents
Foundation Staff Comments
| Financial data taken from audit. Foundation & Corporate contributions are included in the Contributions, Gifts, and Grants sum, as this in not separated in the audit. Financial documents completed by Crosslin, PLLC. Comments provided by Nicole Rose 11/27/2023. |
