The Debakey Medical Foundation in Houston, Texas (TX)

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The Debakey Medical Foundation
Employer Identification Number (EIN)746053822
Name of OrganizationThe Debakey Medical Foundation
Address6535 Fannin Ste A975 Fondren Brown, Houston, TX 77030-2703
ActivitiesGifts, grants, or loans to other organizations, Other health services
SubsectionCharitable Organization
Ruling Date11/1962
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period04/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 - Not required to file (all other) (990-PF required)
Asset Amount$16,574,075
Amount of Income$3,824,342
Form 990 Revenue Amount$1,388,113
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Single Organization Support


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Amount of income in 2012: $3,824,342
This organization: 

 $3,824,342
Other organizations performing similar types of work: 

 $70,878

Assets in 2012: $16,574,075
This organization: 

 $16,574,075
Other organizations performing similar types of work: 

 $36,893

Expenses in 2002: $1,131,571
The Debakey Medical Foundation: 

 $1,131,571
Other organizations performing similar types of work: 

 $1,499,700

Income to expenses ratio in 2002: 1.2
The Debakey Medical Foundation: 

 1.2
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2002: 51.9%
The Debakey Medical Foundation: 

 51.9%
Other organizations performing similar types of work: 

 86.3%

Number of employees in 2002: 1
The Debakey Medical Foundation: 

 1
Other organizations performing similar types of work: 

 9

Employees paid over $50,000 in 2002: 0.0%
The Debakey Medical Foundation: 

 0.0%
Other organizations performing similar types of work: 

 31.5%

Grants share in income in 2002: 4.8%
This organization: 

 4.8%
Other organizations performing similar types of work: 

 55.1%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$2,573,783$1,708,535$1,388,113
Contributions, gifts, grants, and similar amounts received$141,105$256,093$66,661
Contributions to donor advised funds
Direct public support$141,105$256,093$66,661
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$261,445$218,332$226,094
Dividends and interest from securities$734,371$744,316$755,194
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$1,436,862$489,794$340,164
Gross amount from sales of assets other than inventory$4,710,462$2,607,488$2,058,474
Less: cost or other basis and sales expenses$3,273,600$2,117,694$1,718,310
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$0$0$0
Total expenses$1,794,590$1,491,383$1,131,571
Program services$1,083,561$961,395$586,743
Management and general$711,029$529,988$544,828
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$19,032,677$19,249,829$19,506,371
Excess or (deficit) for the year$779,193$217,152$256,542
Net assets or fund balances at beginning of year$18,253,484$19,032,677$19,249,829
Other changes in net assets or fund balances$0$0$0
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,131,571$586,743$544,828$0
Grants paid from donor advised funds
Other grants and allocations$586,743
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$300,000$0$300,000$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$9,744$0$9,744$0
Professional fundraising fees$0$0$0$0
Accounting fees$38,820$0$38,820$0
Legal fees$2,553$0$2,553$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$193,711$0$193,711$0
Balance Sheets
200020012002
Total assets$19,032,677$19,249,829$19,506,371
Cash - non-interest-bearing$282,950$265,015$251,071
Savings and temporary cash investments$0$0$0
Accounts receivable less allowance for doubtful accounts$0$0$0
Pledges receivable less allowance for doubtful accounts$2$0$2
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$17,976,274$18,191,611$18,464,036
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$757,012$776,762$791,262
Other assets, including program-related investments$16,439$16,439$0
Total liabilities$0$0$0
Accounts payable and accrued expenses$0$0$0
Grants payable$0$0$0
Deferred revenue$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$19,032,677$19,249,829$19,506,371
Total net assets or fund balances$19,032,677$19,249,829$19,506,371
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$2,573,783$1,708,535$1,388,113
Total revenue, gains, and other support per audited financial statements$2,573,783$1,708,535$1,388,113
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$1,794,590$1,491,383$1,131,571
Total expenses and losses per audited financial statements$1,794,590$1,491,383$1,131,571
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20061
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$1,321,452$0
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$226,094$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$755,194$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$340,164$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that receives a substantial part of its support from a governmental unit or from the general public
Support Schedule
199920002001
Total$1,015,750$1,136,921$1,218,742
Gifts, grants, and contributions received$47,270$141,105$256,093
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$968,480$995,816$962,649
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Analysis of Revenue and Expenses (for 2011)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$762,115$1,069,810$0
Contributions, gifts, grants, etc., received$5,025
Interest on savings and temporary cash investments$15
Dividends and interest from securities$1,069,795
Gross rents$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$2,182,722$204,344$0$1,978,378
Compensation of officers, directors, trustees, etc.$138,573
Total operating and administrative expenses$380,722$204,344$176,378
Contributions, gifts, grants paid$1,802,000
Excess of revenue over expenses and disbursements$-1,420,607
Net investment income$865,466
Adjusted net income$0
Balance Sheets (for 2011)
Book ValueFair Market Value
Total assets$15,592,974$40,166,247
Cash - non-interest-bearing$0
Investments-U.S. and state government obligations$213,845
Investments-corporate stock$13,792,560
Investments-corporate bonds$871,720
Investments-mortgage loans$0
Investments-other$0
Other$714,849
Total liabilities$12,896
Mortgages and other notes payable$0
Other$12,896
Total liabilities and net assets/fund balances$15,580,078
Capital Gains and Losses for Tax on Investment Income (for 2011)
Capital gain net income$0
Net capital loss$-312,720
Excise Tax Based on Investment Income (for 2011)
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)No
Tax based on investment income$0
Total credits and payments$0
Any penalty for underpayment of estimated tax$0
Tax due$0
Amount to be credited to 2012 estimated tax$0
Statements Regarding Activities (for 2011)
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?No
Was there a liquidation, termination, dissolution, or substantial contraction during the year?No
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011?No
Statements Regarding Activities for Which Form 4720 May Be Required (for 2011)
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?No
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?No
Furnish goods, services, or facilities to (or accept them from) a disqualified person?No
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?Yes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?No
Agree to pay money or property to a government official?No
At the end of tax year 2011, did the foundation have any undistributed income for tax year(s) beginning before 2011?No
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?No
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?No
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?No
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?No
Provide a grant to an individual for travel, study, or other similar purposes?No
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?Yes
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?No
Minimum Investment Return (for 2011)
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$35,675,981
Net value of noncharitable-use assets$35,140,840
Minimum investment return$1,757,042
Distributable Amount (for 2011)
Distributable amount$1,748,387
Undistributed Income (for 2011)
Distributable amount for 2011$1,748,387
Undistributed income for 2011. This amount must be distributed in 2012$140,450
Private Operating Foundations (for 2011)
2011201020092008Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Medical College Of Virginia FoundationPO BOX 980234, Richmond, VA 23298-0234VA2007-10$396,006,790
2University Physicians IncorporatedPO BOX 111719, Aurora, CO 80042-1719CO1981-06$274,537,559
3University Of Virginia Investment Management CompanyPO BOX 400215, Charlottesvle, VA 22904-4215VA2005-03$256,803,114
4Association Of University Physicians, University Of Washington Ophthalmology Alumni AssociationBox 3596080 325 Ninth Avenue, Seattle, WA 98104WA1993-12$231,717,612
5Ohio State University Foundation, Madison County 4h Endowment BoardPo Box 62, London, OH 43140OH1985-11$212,072,023
6University Of Houston Law Foundation100 Law Ctr, Houston, TX 77204-6060TX1972-12$10,478,126
7West Texas A & M University FoundationWtamu Box 60766, Canyon, TX 79016-0001TX1963-06$8,555,059
8Texas Music Educators Association IncPO BOX 140465, Austin, TX 78714-0465TX2006-10$5,049,064
9The Debakey Medical Foundation6535 Fannin Ste A975 Fondren Brown, Houston, TX 77030-2703TX1962-11$3,824,342
10Peruna Holdings CorporationPO BOX 750261, Dallas, TX 75275-0261TX2008-02$2,009,993
11Emmett & Miriam Mccoy College Of Bus Admin Development Foundation601 University Dr, San Marcos, TX 78666-4685TX2004-03$20,302,544
12Pta Texas Congress, Arch H Mcculloch Middle School3555 Granada Ave, Dallas, TX 75205-2235TX2003-11$2,199,228
13Humble Isd Education FoundationPO BOX 2000, Humble, TX 77347-2000TX1999-08$1,505,175
14Cks Foundation3004 Fairmount St, Dallas, TX 75201-1251TX2004-07$1,167,466
15Plano Isd Education Foundation2700 W 15th St, Plano, TX 75075-7524TX1993-07$1,121,031
16Marine Military Academy Foundation320 Iwo Jima Blvd, Harlingen, TX 78550-3627TX2008-03$1,041,701
17Cornerstone Christian School Foundation1502 N Jefferson St, San Angelo, TX 76901-1551TX2001-12$667,903
18Hp Baptist School FoundationPO BOX 4486, Austin, TX 78765-4486TX2003-07$402,362
19Aransas Conty Isd Education Foundation IncPO BOX 195, Rockport, TX 78381-0195TX2001-10$392,510
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Number of organizations performing similar types of work
Alaska32
Alabama94
Arkansas77
Arizona158
California1,036
Colorado171
Connecticut105
District of Columbia27
Delaware28
Florida318
Georgia263
Hawaii35
Iowa142
Idaho44
Illinois303
Indiana164
Kansas60
Kentucky144
Louisiana81
Massachusetts273
Maryland108
Maine39
Michigan266
Minnesota237
Missouri155
Mississippi33
Montana50
North Carolina273
North Dakota14
Nebraska50
New Hampshire52
New Jersey293
New Mexico57
Nevada29
New York388
Ohio368
Oklahoma97
Oregon153
Pennsylvania347
Rhode Island22
South Carolina108
South Dakota27
Tennessee184
Texas997
Utah40
Virginia240
Vermont27
Washington253
Wisconsin177
West Virginia60
Wyoming17
International10
Total8,726

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