Adirondack Medical Center Foundation
- Assets
- $20.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Saranac Lake, NY
- Founding
- 10/1997
- Data as of
- 12/2022
- EIN
- 16-1528554
Organization Overview
Adirondack Medical Center Foundation is located in Saranac Lake, NY. The organization was established in 1997. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Adirondack Medical Center Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adirondack Medical Center 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 12/2022, Adirondack Medical Center Foundation generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Adirondack Medical Center Foundation has awarded 22 individual grants totaling $16,238,479. 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
TO SUPPORT AND ASSIST ADIRONDACK MEDICAL CENTER, AN EXEMPT HEALTHCARE ORGANIZATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUTURE OF CARE CAMPAIGN - FUNDS WILL BE USED BY THE ADIRONDACK MEDICAL CENTER FOR TWO MAJOR CAPITAL PROJECTS. IN SARANAC LAKE, FUNDS WILL BE USED TOWARDS A RENOVATION AND EXPANSION OF THE SURGICAL SERVICES DEPARTMENT. IN LAKE PLACID, FUNDS WILL BE USED TO BUILD THE ADIRONDACK HEALTH - LAKE PLACID HEALTH AND MEDICAL FITNESS CENTER.COVID RELIEF FUND - FUNDS RAISED TO ASSIST ADIRONDACK HEALTH WITH EXPENSES RELATED TO COVID-19.INFECTIOUS DISEASE TESTING LAB - FUNDS RAISED TO RENOVATE LABORATORY SPACE AND TO PURCHASE 2 RHEONIX AND A ROCHE MACHINE TO PROCESS PCR TESTS IN-HOUSE IN A TIMELY MANNER.
COSTS INCURRED WHILE PERFORMING ACTIVITIES IN ACCORDANCE WITH THE MISSION OF THE FOUNDATION.
OTHER GRANTS TO AMC - FUNDS PROVIDED TO DEPARTMENTS FOR GRANTS OF UP TO $5,000 THAT ENHANCE THE PATIENT OR RESIDENT EXPERIENCE OR ENHANCE THE HEALING ENVIRONMENT.
COMMUNITY HEALTH, EDUCATION ETC. - THE ADIRONDACK MEDICAL CENTER FOUNDATION PROVIDED SCHOLARSHIPS TO NON-TRADITIONAL AND TRADITIONAL STUDENTS PURSUING A DEGREE IN REGISTERED NURSING AND RADIOLOGIC TECHNOLOGY PROGRAMS. COMMUNITY HEALTH OUTREACH INCLUDED A HEALTH MAGAZINE PUBLISHED TWICE/YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvia Getman Ex-Officio | Trustee | 1 | $0 |
Aaron Kramer Ex-Officio | Trustee | 1 | $0 |
Daniel F Kelleher Chair | OfficerTrustee | 1 | $0 |
Heather Bumsted Vice Chair | OfficerTrustee | 0.5 | $0 |
Erin Perkins Secretary | OfficerTrustee | 0.5 | $0 |
Robert J Beier Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $107,090 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,732,239 |
| Noncash contributions included in lines 1a–1f | $206,503 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,839,329 |
| Total Program Service Revenue | $0 |
| Investment income | $248,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,603,601 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,691,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $679,038 |
| 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. | $152,734 |
| Compensation of current officers, directors, key employees. | $30,547 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $93,296 |
| Pension plan accruals and contributions | $2,196 |
| Other employee benefits | $17,526 |
| Payroll taxes | $17,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $714 |
| Fees for services: Accounting | $2,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $66,218 |
| Fees for services: Other | $27,317 |
| Advertising and promotion | $7,864 |
| Office expenses | $3,440 |
| 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 | $6,317 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,161,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,132 |
| Savings and temporary cash investments | $89,249 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,368,465 |
| 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 | $0 |
| Investments—publicly traded securities | $19,017,931 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,838,777 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $2,500 |
| 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 | $14,847 |
| Total liabilities | $17,347 |
| Net assets without donor restrictions | $16,425,193 |
| Net assets with donor restrictions | $4,396,237 |
| 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 | $20,838,777 |
Grants Awarded
Over the last fiscal year, Adirondack Medical Center Foundation has awarded $662,238 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ADIRONDACK MEDICAL CENTER PURPOSE: GRANT FOR FUTURE CAPITAL PROJECTS | $369,384 |
ADIRONDACK MEDICAL CENTER PURPOSE: OTHER GRANTS & ASSISTANCE | $292,854 |