Westerly Hospital Foundation Inc is located in Westerly, RI. The organization was established in 2000. 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. Westerly Hospital 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 09/2021, Westerly Hospital Foundation Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.1% each year . All expenses for the organization totaled $309.4k during the year ending 09/2021. While expenses have increased by 6.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP PHILANTHROPIC SUPPORT FOR LMW HEALTHCARE INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTERLY HOSPITAL FOUNDATION RECEIVED MORE THAN $599,000 IN PHILANTHROPIC GIFTS IN FY 2023. FUNDRAISING PROCEEDS FROM VARIOUS EVENTS AND FUNDRAISING DRIVES PROMOTED BY LMW HEALTHCARE, INC. WERE USED TO ENHANCE PATIENT CARE AND THE PATIENT-FAMILY EXPERIENCE AT THE HOSPITAL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
F Gregory Ahern Trustee & Chairman | OfficerTrustee | 1 | $0 |
Diane Consoli Trustee | Trustee | 1 | $0 |
William H Heep Trustee | Trustee | 1 | $0 |
Richard Holliday Trustee | Trustee | 1 | $0 |
John Holstein Trustee | Trustee | 1 | $0 |
Martha Hosp Trustee & Secretary | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $2,085,392 |
Investment income | $63,807 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $101,772 |
Net Income from Fundraising Events | $365 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,268,358 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $0 |
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 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 | $6,742 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $5,689 |
Fees for services: Other | $185,172 |
Advertising and promotion | $2,376 |
Office expenses | $5,477 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $675 |
Travel | $225 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,625 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $309,419 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,547,673 |
Savings and temporary cash investments | $3,307,736 |
Pledges and grants receivable | $256,157 |
Accounts receivable, net | $120,489 |
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 | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $410,407 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $256,044 |
Total assets | $6,898,506 |
Accounts payable and accrued expenses | $6,338 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $906,430 |
Total liabilities | $912,768 |
Net assets without donor restrictions | $4,574,566 |
Net assets with donor restrictions | $1,411,172 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total liabilities and net assets/fund balances | $5,985,738 |