Newton Medical Center Foundation

Organization Overview

Newton Medical Center Foundation is located in Morristown, NJ. The organization was established in 1985. 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. Newton 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, Newton Medical Center Foundation generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $828.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO SERVE THE PHILANTHROPIC NEEDS OF NEWTON MEDICAL CENTER AND RELATED ENTITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

NEWTON MEDICAL CENTER FOUNDATION TRANSFERS FUNDS TO NEWTON MEDICAL CENTER (THE "HOSPITAL") TO SUPPORT THE HOSPITAL AND THE COMMUNITY IT SERVES. TRANSFERS INCLUDE PAYMENTS ON VARIOUS CAPITAL CAMPAIGNS SUPPORTING CAPITAL PROJECTS OF THE HOSPITAL AS WELL AS DONATIONS MADE FOR A SPECIFIC PURPOSE BENEFITING VARIOUS AREAS OF THE HOSPITAL.


FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:REPRESENTS TARGETED FUNDING OF VARIOUS NEWTOWN MEDICAL CENTER PROGRAMS/HEALTHCARE INITIATIVES INCLUDING OVARIAN CANCER SCREENING AND NURSING SCHOLARSHIPS AMONG OTHERS.


THE FOUNDATION PURCHASES AEDS (AUTOMATED EXTERNAL DEFRIBRILLATORS) AND CHARGES NONPROFIT COMMUNITY ORGANIZATIONS 50% OF THE COST. THE FOUNDATION THEN ASSUMES THE BALANCE OF THE PURCHASE PRICE AS A DONATION TO THE COMMUNITY. IN 2021, THE BALANCE OF THE PURCHASE PRICE WAS $18,324.


BOARD APPROVED FUNDING THAT THE FOUNDATION AWARDED TO EMERGENCY DEPARTMENT AT NEWTON MEDICAL CENTER HOSPITAL AND REPRESENTS INTERNAL FUNDING FROM THE FOUNDATION TO PROMOTE BETTER PATIENT CARE.


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Board, Officers & Key Employees

Name (title)Compensation
Robert Adams
Trustee-President, Western Region
$0
Megan Sandow
Trustee-Chief Dev Officer
$0
Keith Vanfleet-Termed 92422
Director Of Accounting
$0
Buffie Dobbs
Trustee
$0
Colleen Apter
Trustee
$0
David P Romano
Trustee
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$451,644
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$787,021
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,238,665
Total Program Service Revenue$0
Investment income $548,176
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $177,438
Net Income from Fundraising Events -$131,271
Net Income from Gaming Activities $41,931
Net Income from Sales of Inventory $6,785
Miscellaneous Revenue$0
Total Revenue $1,881,724

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