Centrastate Healthcare Foundation
- Assets
- $18.3m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Freehold, NJ
- Founding
- 01/1982
- Data as of
- 12/2022
- EIN
- 22-2383065
Organization Overview
Centrastate Healthcare Foundation is located in Freehold, NJ. The organization was established in 1982. 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. Centrastate Healthcare 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, Centrastate Healthcare Foundation generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $5.6m during the year ending 12/2022. While expenses have increased by 15.1% per year over the past 8 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, Centrastate Healthcare Foundation has awarded 64 individual grants totaling $15,005,728. 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 THE CHARITABLE TAX-EXEMPT PURPOSES, PROGRAMS AND SERVICES OF CENTRASTATE MEDICAL CENTER; A RELATED IRC SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION AND AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN SUPPORT OF THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF CENTRASTATE MEDICAL CENTER, INC.; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, AND OTHER CENTRASTATE HEALTHCARE SYSTEM, INC. AFFILIATES, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas W Scott Trst/csmc Pres/ceo (eff. 4/9) | OfficerTrustee | 55 | $0 |
John T Gribbin Trst/csmc Pres/ceo(ret. 4/8) | OfficerTrustee | 55 | $0 |
John A Dellocono Csmc Svp/cfo | Officer | 55 | $0 |
Nancy Barone Vice President Development | Officer | 50 | $0 |
Edward M Soffen MD Trustee | Trustee | 1 | $0 |
Joseph Iantosca Chair - Trustee | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shadow Brook At Shrewsbury Event | 12/30/22 | $162,580 |
Presentation Design Group Llc Graphic Design | 12/30/22 | $109,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $546,153 |
| Related organizations | $0 |
| Government grants | $2,610,399 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,415,814 |
| Noncash contributions included in lines 1a–1f | $19,769 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,572,366 |
| Total Program Service Revenue | $0 |
| Investment income | $292,816 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $861,184 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $13,800 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,740,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,372,820 |
| 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 | $27,036 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,139 |
| Advertising and promotion | $0 |
| Office expenses | $42,135 |
| Information technology | $15,581 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,067 |
| 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 | $14,223 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,592,196 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,356 |
| Savings and temporary cash investments | $3,349,758 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,625 |
| 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 | $168,464 |
| Net Land, buildings, and equipment | $762,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,226,678 |
| Intangible assets | $0 |
| Other assets | $130,913 |
| Total assets | $18,325,479 |
| Accounts payable and accrued expenses | $116,462 |
| 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 | $488,559 |
| Total liabilities | $605,021 |
| Net assets without donor restrictions | -$2,117,673 |
| Net assets with donor restrictions | $19,838,131 |
| 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 | $18,325,479 |
Grants Awarded
Over the last fiscal year, Centrastate Healthcare Foundation has awarded $4,258,866 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CENTER FOR AGING INC PURPOSE: GENERAL SUPPORT | $189,443 |
CENTRASTATE MEDICAL CENTER INC PURPOSE: GENERAL SUPPORT | $3,989,045 |
HEALTHCARE AFFILIATES INC PURPOSE: GENERAL SUPPORT | $24,267 |
CENTRASTATE ASSISTED LIVING INC PURPOSE: GENERAL SUPPORT | $13,691 |
VNA OF CENTRAL JERSEY PURPOSE: GENERAL SUPPORT | $20,000 |
SPECIAL STRIDES PURPOSE: GENERAL SUPPORT | $10,420 |