Public Charity

VERITY MEDICAL FOUNDATION

VERITY MEDICAL FOUNDATION is a Public Charity headquartered in WOODLAND HILLS, CA. Financial data from the 2021 filing: $347K revenue, $866K expenses. 6 publicly reported grants to this organization, totaling roughly $98.1M, appear in IRS filings.

EIN: 453691852 WOODLAND HILLS, CA General Support NTEE: DEFAULT Latest filing: 2021
Total Revenue$347K
Total Expenses$866K
Grant Records6
Funding Total$98.1M
Filing Years2017–2021

Mission

VERITY MEDICAL FOUNDATION ("VMF") IS ORGANIZED TO SUPPORT THE PURPOSES OF VERITY HEALTH SYSTEM OF CALIFORNIA, INC., ("VHS") BY (I) ARRANGING FOR THE PROVISION OF HEALTHCARE SERVICES, INCLUDING THE OPERATION AND MAINTENANCE OF AMBULATORY CARE CLINICS AND (SEE SCHEDULE O)(CONTINUED FROM PART III) RELATED FACILITIES, (II) PROMOTING RESEARCH RELATED TO HEALTHCARE SERVICES, (III) PROVIDING HEALTHCARE SERVICES TO ALL PERSONS WITHOUT REGARD TO THEIR ABILITY TO PAY, (IV) PROMOTING THE GENERAL HEALTH OF THE COMMUNITIES SERVED BY VHS AND ITS AFFILIATED HEALTHCARE FACILITIES, AND (V) PROVIDING FINANCIAL AND OTHER FORMS OF ASSISTANCE FOR THE BENEFIT OF OTHER HEALTHCARE FACILITIES AFFILIATED WITH VHS.THE ENTITY IS IN THE PROCESS OF WINDING DOWN FOR EVENTUAL DISSOLUTION.

Officers & Directors

BOARD MEMBER (THRU 4/2021) Andrew Pines
SECRETARY (THRU 8/2020) Anthony Armada
LIQUIDATING TRUSTEE (BEG 9/2020) Howard Grobstein
BOARD MEMBER (THRU 4/2021) Jack Krouskup
PRESIDENT & CEO (THRU 9/2020) Richard Adcock - Ex-Officio
BOARD MEMBER (THRU 4/2021) Terry Belmont

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support
$91,896,305 5 grants
GENERAL SUPPORT
$6,250,000 1 grant

Financial Trends

Year Revenue Expenses Assets
2021 $347K $866K
2020 $9.6M $11.5M $1.2M
2019 $107.9M $125.0M $11.2M
2018 $143.0M $136.9M $26.9M
2017 $77.4M $78.4M $12.7M

Between 2017 and 2021, reported annual revenue declined from $77.4M to $347K (-100%).

Interactive year-over-year charts and full filing details available with membership.

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