Virtua Health Foundation Inc
- Assets
- $97.4m
- Revenue
- $14.6m
- Investments
- $85.1m
- Employees
- 0
- Location
- Marlton, NJ
- Founding
- 01/2003
- Data as of
- 12/2022
- EIN
- 04-3722352
Organization Overview
Virtua Health Foundation Inc is located in Marlton, NJ. The organization was established in 2003. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virtua Health Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Virtua Health Foundation Inc generated $14.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $33.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Virtua Health Foundation Inc has awarded 37 individual grants totaling $85,313,839. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
VIRTUA FOUNDATION IS THE RESOURCE DEVELOPMENT ARM OF VIRTUA, A NON-PROFIT HEALTHCARE SYSTEM PROVIDING THE BEST CARE FOR FAMILIES ACROSS SOUTH JERSEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRTUA FOUNDATION ENDOWMENT GIFT TO ROWAN UNIVERSITY TO ESTABLISH A NEW ACADEMIC HEALTH SYSTEM TO PROMOTE AND ENHANCE CLINICAL EDUCATION, RESEARCH, AND CLINICAL ACTIVITIES.
VIRTUA HEALTH REHAB CENTER @ BERLIN (SOLICITED FUNDS)EXPENSE OF $40GRANT OF $40VIRTUA MEDICAL GROUP (SOLICITED FUNDS)EXPENSE OF $3,118GRANT OF $3,118COLLEAGUE CARE FUNDEXPENSE OF $6,778GRANT OF $6,778VIRTUA LOURDES CAMDENEXPENSE OF $778,806GRANT OF $778,806VIRTUA WILLINGBOROEXPENSE OF $148,964GRANT OF $148,964VIRTUA WEST JERSEYEXPENSE OF $312,567GRANT OF $312,567WORLD CENTRAL KITCHEN, INC.EXPENSE OF $7,563GRANT OF $7,563HOSPITAL RELATED: VARIOUS PROGRAMSEXPENSE OF $899,951
VIRTUA FOUNDATION SOLICITED FUNDS ON BEHALF OF VIRTUA HEALTH, INC. A RELATED ENTITY. THESE FUNDS WILL BE USED TOWARD PROGRAMS OF EXCELLENCE WITHIN VIRTUA. VIRTUA FOUNDATION AND OUR PARTNERS IN THE COMMUNITY RAISE FUNDS TO SUPPORT THE PROGRAMS AND SERVICES FAMILIES RELY ON AT VIRTUA, A NON-PROFIT HEALTHCARE SYSTEM DEDICATED TO HELPING YOU BE WELL, GET WELL AND STAY WELL. VIRTUA FOUNDATION BELIEVES THAT BY WORKING TOGETHER THROUGH ACTS OF KINDNESS AND GENEROSITY, WE CAN ENSURE THAT EVERY MEMBER OF OUR COMMUNITY HAS ACCESS TO TOP-QUALITY HEALTH CARE.
VIRTUA FOUNDATION SOLICITED FUNDS ON BEHALF OF VIRTUA-MEMORIAL HOSPITAL, A RELATED ENTITY. THESE FUNDS WILL BE USED FOR PATIENT CARE, NEW MEDICAL EQUIPMENT, AND RENOVATIONS TO THE HOSPITAL BUILDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis W Pullin President/ceo | OfficerTrustee | 0.15 | $0 |
Anthony G Sauerwein MD Trustee/physician | Trustee | 0.71 | $0 |
Randolph B Deger MD Trustee/physician | Trustee | 0.71 | $0 |
Mary Frances Campagnolo MD Trustee/physician | Trustee | 0.71 | $0 |
John J Parker Chairman | OfficerTrustee | 0.77 | $0 |
Damien Ghee Vice Chairman | OfficerTrustee | 0.77 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $836,788 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,069,278 |
| Noncash contributions included in lines 1a–1f | $17,707 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,906,066 |
| Total Program Service Revenue | $0 |
| Investment income | $17,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,982,043 |
| Net Income from Fundraising Events | -$313,064 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,592,178 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,683,055 |
| Grants and other assistance to domestic individuals. | $6,778 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,500 |
| Fees for services: Investment Management | $236,991 |
| Fees for services: Other | $91,594 |
| Advertising and promotion | $0 |
| Office expenses | $177,733 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,709 |
| Travel | $7,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,633 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,116 |
| Insurance | $0 |
| All other expenses | $2,005 |
| Total functional expenses | $32,996,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,168,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,095,387 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $149,989 |
| Net Land, buildings, and equipment | $7,157 |
| Investments—publicly traded securities | $6,162 |
| Investments—other securities | $85,140,035 |
| Investments—program-related | $7,826,353 |
| Intangible assets | $0 |
| Other assets | $10,331 |
| Total assets | $97,403,821 |
| Accounts payable and accrued expenses | $219,322 |
| Grants payable | $23,952,690 |
| Deferred revenue | $500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $50,875,945 |
| Total liabilities | $75,048,457 |
| Net assets without donor restrictions | $12,635,373 |
| Net assets with donor restrictions | $9,719,991 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $97,403,821 |
Grants Awarded
Over the last fiscal year, Virtua Health Foundation Inc has awarded $30,679,897 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
VIRTUA HEALTH INC PURPOSE: MEDICAL EDUCATION AND SUPPORT FOR VIRTUA HEALTH'S PROGRAMS OF EXCELLENCE. | $2,727,660 |
ROWAN UNIVERSITY FOUNDATION PURPOSE: PROMOTE AND ENHANCE CLINICAL EDUCATION, RESEARCH, AND CLINICAL ACTIVITIES. | $25,000,000 |
VIRTUA - MEMORIAL HOSPITAL OF BURLINGTON COUNTY INC PURPOSE: PURCHASE UPGRADES TO MEDICAL EQUIPMENT AND TO ENHANCE PATIENT CARE. | $1,704,337 |
VIRTUA - WEST JERSEY HEALTH SYSTEM INC PURPOSE: PURCHASE UPGRADES TO MEDICAL EQUIPMENT AND TO ENHANCE PATIENT CARE. | $312,567 |
VIRTUA WILLINGBORO HOSPITAL INC PURPOSE: PURCHASE UPGRADES TO MEDICAL EQUIPMENT AND TO ENHANCE PATIENT CARE. | $148,964 |
VIRTUA OUR LADY OF LOURDES HOSPITAL INC PURPOSE: PURCHASE UPGRADES TO MEDICAL EQUIPMENT AND TO ENHANCE PATIENT CARE. | $778,806 |