Vassar Brothers Hospital Foundation
- Assets
- $47.6m
- Revenue
- $1.8m
- Investments
- $37.3m
- Employees
- 0
- Location
- Poughkeepsie, NY
- Founding
- 07/1991
- Data as of
- 09/2023
- EIN
- 14-1736429
Organization Overview
Vassar Brothers Hospital Foundation is located in Poughkeepsie, NY. The organization was established in 1991. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Vassar Brothers Hospital Foundation 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 09/2023, Vassar Brothers Hospital Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $7.6m during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF VASSAR BROTHERS HOSPITAL FOUNDATION IS TO RAISE FUNDS, REINVEST AND ADMINISTER THESE FUNDS AND MAKE DISTRIUBTIONS TO VASSAR BROTHERS MEDICAL CENTER AND OTHER NOT-FOR-PROFIT VASSAR BROTHERS MEDICAL CENTER AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VASSAR BROTHERS FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION LOCATED IN POUGHKEEPSIE, NY. THE FOUNDATION WAS ORGANIZED FOR THE PURPOSE OF SOLICITING, RECEIVING, HOLDING, INVESTING AND ADMINISTERING CONTRIBUTIONS ON BEHALF OF VASSAR BROTHERS MEDICAL CENTER AND OTHER NOT-FOR-PROFIT HEALTHCARE AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chairman (from 01/01); Director | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman (to 12/31); Director | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Director (from 01/01) | Trustee | 0.5 | $0 |
Name Not Listed Director (from 01/01) | Trustee | 0.5 | $0 |
Name Not Listed Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,187,354 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,187,354 |
| Total Program Service Revenue | $0 |
| Investment income | $660,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,226 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,843,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,558,285 |
| 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 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 | $0 |
| Fees for services: Investment Management | $105,251 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,636 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,552,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,190,355 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,854,407 |
| 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 | $0 |
| Net Land, buildings, and equipment | $26,515 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $37,314,601 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $255,916 |
| Total assets | $47,641,794 |
| Accounts payable and accrued expenses | $0 |
| 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 | $486,558 |
| Total liabilities | $486,558 |
| Net assets without donor restrictions | $31,891,342 |
| Net assets with donor restrictions | $15,263,894 |
| 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 | $47,641,794 |
Grants Awarded
Over the last fiscal year, Vassar Brothers Hospital Foundation has awarded $6,555,202 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VASSAR BROTHERS MEDICAL CENTER PURPOSE: OPERATIONAL SUPPORT | $5,371,841 |
NUVANCE HEALTH PURPOSE: OPERATIONAL SUPPORT | $1,171,297 |
HEALTH QUEST SYSTEMS INC PURPOSE: OPERATIONAL SUPPORT | $12,064 |