Adirondack Medical Center Foundation
- Assets
- $22.2m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Saranac Lake, NY
- Founding
- 10/1997
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Adirondack Medical Center Foundation generated $5.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. While expenses have increased by 12.8% 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.
Since 2014, Adirondack Medical Center Foundation has awarded 20 individual grants totaling $15,576,241. 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
2021
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.
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.
COSTS INCURRED WHILE PERFORMING ACTIVITIES IN ACCORDANCE WITH THE MISSION OF THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Hanford Executive Director | OfficerTrustee | 40 | $136,330 |
Heather Bumsted Vice Chair | OfficerTrustee | 0.5 | $0 |
Daniel F Kelleher Chair | OfficerTrustee | 1 | $0 |
Erin Perkins Secretary | OfficerTrustee | 0.5 | $0 |
Robert J Beier Treasurer | OfficerTrustee | 1 | $0 |
Sylvia Getman Ex-Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $111,884 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,918,331 |
| Noncash contributions included in lines 1a–1f | $371,249 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,030,215 |
| Total Program Service Revenue | $0 |
| Investment income | $20,989 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,164,397 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,215,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,186,244 |
| 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. | $152,619 |
| Compensation of current officers, directors, key employees. | $30,524 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,670 |
| Pension plan accruals and contributions | $2,196 |
| Other employee benefits | $7,616 |
| Payroll taxes | $17,749 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,190 |
| Fees for services: Other | $36,803 |
| Advertising and promotion | $8,780 |
| Office expenses | $2,375 |
| 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 | $3,771 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,800,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $478,332 |
| Savings and temporary cash investments | $948,730 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,290,609 |
| 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 | $18,442,117 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,576 |
| Total assets | $22,163,364 |
| 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 | $0 |
| Total liabilities | $2,500 |
| Net assets without donor restrictions | $18,928,255 |
| Net assets with donor restrictions | $3,232,609 |
| 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 | $22,163,364 |
Grants Awarded
Over the last fiscal year, Adirondack Medical Center Foundation has awarded $2,167,385 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Saranac Lake, NY PURPOSE: GRANT FOR FUTURE CAPITAL PROJECTS | $2,090,672 |
Saranac Lake, NY PURPOSE: OTHER GRANTS & ASSISTANCE | $76,713 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Adirondack Medical Center Foundation has recieved totaling $78,934.
| Awarding Organization | Amount |
|---|---|
Adirondack Foundation Lake Placid, NY PURPOSE: FOR 2021 CAMPAIGN FROM CAROLINE AND SERGE LUSSI | $20,000 |
Adirondack Foundation Lake Placid, NY PURPOSE: FOR UNRESTRICTED SUPPORT AT THE RECOMMENDATION OF CAROLINE AND SERGE LUSSI | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,900 |
Adirondack Foundation Lake Placid, NY PURPOSE: IN SUPPORT OF A FETAL HEART RATE MONITOR | $10,000 |
Adirondack Foundation Lake Placid, NY PURPOSE: FOR UNRESTRICTED SUPPORT | $10,000 |
The Teck Foundation Wilmington, DE PURPOSE: GENERAL PURPOSE | $5,000 |
Endowment Analysis
| Beg. Balance | $69,038 |
| Earnings | $28 |
| Net Contributions | $3,163,543 |
| Ending Balance | $3,232,609 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |