Monmouth Medical Center Foundation Inc
- Assets
- $49.5m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Oceanport, NJ
- Founding
- 10/1986
- Data as of
- 12/2022
- EIN
- 22-2456079
Organization Overview
Monmouth Medical Center Foundation Inc is located in Oceanport, NJ. The organization was established in 1986. 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. Monmouth Medical Center 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 12/2022, Monmouth Medical Center Foundation Inc generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $7.3m during the year ending 12/2022. While expenses have increased by 9.8% 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.
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 MONMOUTH MEDICAL CENTER; A RELATED IRC SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN SUPPORT OF THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF MONMOUTH MEDICAL CENTER; A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William S Arnold Trustee - Pres/ceo Rwjuhnb | Trustee | 55 | $0 |
Eric W Carney Trustee-Pres/ceo Mmc/mmc-Sc | Trustee | 55 | $0 |
William Downs DO Trustee (termed 5/1/22) | Trustee | 55 | $0 |
Caitlin R Olson Trustee - Vp, Development | OfficerTrustee | 55 | $0 |
Gregory Greco MD Trustee (termed 5/1/22) | Trustee | 55 | $0 |
Victor Almeida DO Trustee (termed 5/1/22) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $531,064 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,973,666 |
| Noncash contributions included in lines 1a–1f | $179,302 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,504,730 |
| Total Program Service Revenue | $4,913,781 |
| Investment income | $286,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $61,262 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,765,811 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,366,660 |
| Grants and other assistance to domestic individuals. | $743,179 |
| 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 | $453,450 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $84,470 |
| Information technology | $12,728 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,110 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,883 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,313,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $55,713 |
| Pledges and grants receivable | $23,359,023 |
| 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 | $6,330 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,397,941 |
| Intangible assets | $0 |
| Other assets | $5,653,886 |
| Total assets | $49,472,893 |
| Accounts payable and accrued expenses | $29,862 |
| Grants payable | $0 |
| Deferred revenue | $11,550 |
| 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 | $351,481 |
| Total liabilities | $392,893 |
| Net assets without donor restrictions | $1,414,000 |
| Net assets with donor restrictions | $47,666,000 |
| 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 | $49,472,893 |