St Vincents Foundation Inc
- Assets
- $44.9m
- Revenue
- $2.5m
- Investments
- $122.5k
- Employees
- 0
- Location
- Bridgeport, CT
- Founding
- 03/1946
- Data as of
- 09/2021
- EIN
- 22-2558132
Organization Overview
St Vincents Foundation Inc is located in Bridgeport, CT. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. St Vincents 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 09/2021, St Vincents Foundation Inc generated $2.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $2.5m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, St Vincents Foundation Inc has awarded 29 individual grants totaling $18,980,058. 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
ST. VINCENT'S MEDICAL CENTER FOUNDATION'S PRIMARY PURPOSE IS TO RAISE FUNDS IN ORDER TO HELP MEET CERTAIN FINANCIAL NEEDS OF THE ST. VINCENT'S HEALTH SERVICES CORPORATION. THE FOUNDATION'S GOAL IS TO CREATE AND PERPETUATE FINANCIAL SUPPORT FOR PROGRAMS AND SERVICES ON BEHALF OF ST. VINCENT'S HISTORIC MISSION TO SERVE THE POOR AND MEDICALLY UNDERSERVED POPULATIONS. THE GROWING SUPPORT FOR ST. VINCENT'S THROUGHOUT THE REGION IS A REFLECTION OF OUR MISSION-DRIVEN PROGRAMS AND THE QUALITY OF OUR SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021, ST. VINCENT'S MEDICAL CENTER FOUNDATION, INC. RELEASED APPROXIMATELY $1,747,000 TO ITS AFFILIATE SVMC HOLDINGS, INC. DBA ST. VINCENT'S MEDICAL CENTER. THIS FUNDING ASSISTED IN PAYING BOTH OPERATING AND CAPITAL NEEDS OF ST. VINCENT'S MEDICAL CENTER.
IN FISCAL 2021, APPROXIMATELY $354,000 IN SUPPORT FOR OTHER PROGRAMS OF ST. VINCENT'S MEDICAL CENTER WAS PROVIDED PRIMARILY THROUGH VARIOUS "SWIM ACROSS THE SOUND" FUNDRAISING EVENTS AND THROUGH THE GIFTS OF ST. VINCENT'S EMPLOYEES TO THE EMPLOYEE GIVING CAMPAIGN THROUGHOUT THE YEAR. THE FUNDS SUPPORT INDIVIDUALS IN NEED OF FINANCIAL ASSISTANCE. IN PARTICULAR, THE "SWIM" MONIES FUND OVER 40 DIFFERENT CANCER EDUCATION, SCREENING AND SUPPORT SERVICES FOR CANCER PATIENTS AND THEIR FAMILIES. THE "SWIM" FUNDS OFFER A SIGNIFICANT SAFETY NET TO OUR REGION BY PROVIDING FINANCIAL ASSISTANCE TO CANCER PATIENTS BY SUBSIDIZING THEIR MORTGAGE OR RENT PAYMENTS OR IN PROVIDING OTHER NEEDED FINANCIAL SUPPORT DURING THEIR TREATMENT.
DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2021, ST. VINCENT'S MEDICAL CENTER FOUNDATION, INC. PROVIDED APPROXIMATELY $23,000 IN FUNDING TO SUPPORT THE CAPITAL AND OPERATING NEEDS OF ITS AFFILIATE, ST. VINCENT'S SPECIAL NEEDS CENTER, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Daglio Director & Chair | OfficerTrustee | 2 | $0 |
Vincent Dibattista Director & President | OfficerTrustee | 2 | $0 |
Gerald Boisvert Director & Secretary | OfficerTrustee | 2 | $0 |
Dianne Auger Director (thru 3/21) | Trustee | 2 | $0 |
Carmine Adimando Director (thru 3/21) | Trustee | 1 | $0 |
Gertrud Bargas Director (thru 3/21) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $906 |
| Membership dues | $0 |
| Fundraising events | $151,169 |
| Related organizations | $1,100 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $319,440 |
| Noncash contributions included in lines 1a–1f | $2,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $472,615 |
| Total Program Service Revenue | $0 |
| Investment income | $595,690 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,542,437 |
| Net Income from Fundraising Events | -$65,430 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,548,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,770,367 |
| Grants and other assistance to domestic individuals. | $353,925 |
| 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 | $311,950 |
| 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 | $0 |
| Fees for services: Other | $17,473 |
| Advertising and promotion | $29,674 |
| Office expenses | $1,483 |
| 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 | $9,256 |
| Insurance | $0 |
| All other expenses | $5,665 |
| Total functional expenses | $2,499,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $217,317 |
| Savings and temporary cash investments | $67,132 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $43,533,541 |
| Investments—other securities | $122,463 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $957,555 |
| Total assets | $44,898,008 |
| Accounts payable and accrued expenses | $20,907 |
| Grants payable | $0 |
| Deferred revenue | $2,245 |
| 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 | $4,645,555 |
| Total liabilities | $4,668,707 |
| Net assets without donor restrictions | $3,359,836 |
| Net assets with donor restrictions | $36,869,465 |
| 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 | $44,898,008 |
Grants Awarded
Over the last fiscal year, St Vincents Foundation Inc has awarded $1,770,367 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Bridgeport, CT PURPOSE: Support for program and capital expenditures | $1,747,400 |
Trumbull, CT PURPOSE: Support for program and capital expenditures | $22,967 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that St Vincents Foundation Inc has recieved totaling $52,050.
| Awarding Organization | Amount |
|---|---|
Pink Aid Inc Westport, CT PURPOSE: COMPASSIONATE CARE TO SUPPORT BREAST CANCER PATIENTS | $48,000 |
Organization Name not Listed PURPOSE: GENERAL AID | | $2,500 |
Jjk Foundation Herndon, VA PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Arthur J Gallagher Foundation Rolling Meadows, IL PURPOSE: GENERAL EXEMPT PURPOSE | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $50 |
Endowment Analysis
| Beg. Balance | $21,987,367 |
| Earnings | $4,331,020 |
| Admin Expense | $193,544 |
| Net Contributions | $125,538 |
| Other Expense | $422,520 |
| Ending Balance | $25,827,861 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rhode Island Hospital Foundation Providence, RI | $69,328,658 | $16,409,972 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
The Childrens Hospital Of Buffalo Foundation Buffalo, NY | $94,191,581 | $13,115,103 |
The St Francis Hospital Foundation Inc Roslyn, NY | $262,392,526 | $17,931,065 |
International Union Operating Engineers Johnston, RI | $24,623,216 | $15,388,250 |
Danbury Hospital & New Milford Hospital Foundation Inc Danbury, CT | $175,854,316 | $24,324,982 |
New York And Presbyterian Hospitals Healthcare System Inc New York, NY | $3,724,021 | $13,051,406 |
Connecticut Childrens Foundation Inc Hartford, CT | $208,742,176 | $23,151,101 |
Umh Jgj Corp Binghamton, NY | $8,297,454 | $12,939,554 |
Kaleida Health Foundation Buffalo, NY | $51,635,674 | $6,911,970 |