Foundation For Morristown Medical Center Inc

Organization Overview

Foundation For Morristown Medical Center Inc is located in Morristown, NJ. The organization was established in 1995. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, 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. Foundation For Morristown Medical Center 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 12/2021, Foundation For Morristown Medical Center Inc generated $31.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $11.7m during the year ending 12/2021. While expenses have increased by 2.3% 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

REFER TO SCHEDULE OTHE FOUNDATION FOR MORRISTOWN MEDICAL CENTER IS A NOT-FOR-PROFIT FUNDRAISING ORGANIZATION WHICH SOLICITS FUNDS IN ITS GENERAL APPEAL TO SUPPORT BOTH MORRISTOWN MEDICAL CENTER, WHICH IS A DIVISION OF AHS HOSPITAL CORPORATION, AND THE COMMUNITY AS THE FOUNDATION'S BOARD MAY DEEM APPROPRIATE.

Describe the Organization's Program Activity:

THE FOUNDATION FOR MORRISTOWN MEDICAL CENTER (F4MMC) IS A STANDALONE FOUNDATION, WHICH IS A NOT-FOR-PROFIT FUNDRAISING ORGANIZATION THAT SOLICITS FUNDS IN ITS GENERAL APPEAL FOR THE BENEFIT AND SUPPORT OF ATLANTIC HEALTH SYSTEM, INC. AND AHS HOSPITAL CORPORATION (THE CORPORATION), AND ALL SUBSIDIARIES THEREOF. MORRISTOWN MEDICAL CENTER IS THE PRINCIPAL RECIPIENT OF THE FUNDRAISING CARRIED OUT BY F4MMC.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$220,450
Related organizations$480,053
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$23,550,212
Noncash contributions included in lines 1a–1f $483,438
Total Revenue from Contributions, Gifts, Grants & Similar$24,250,715
Total Program Service Revenue$0
Investment income $7,059,336
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $247,829
Net Income from Fundraising Events -$46,700
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $31,511,180

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Foundation For Morristown Medical Center Inc has recieved totaling $10,000.

Awarding OrganizationAmount
Jay E And Wendy G Birnbaum Foundation

Montville, NJ

PURPOSE: UNRESTRICTED

$3,500
Nacchio Foundation Inc

Jupiter, FL

PURPOSE: GENERAL SUPPORT

$3,000
Ernest Christian Klipstein Foundation

Oldwick, NJ

PURPOSE: GENERAL SUPPORT

$2,500
Richard & Lisa Soultanian Foundation Inc

Basking Ridge, NJ

PURPOSE: CONTRIBUTION TO PUBLIC CHARITY

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$116,826,206
Earnings$5,936,231
Net Contributions$22,328,654
Other Expense$14,808,099
Ending Balance$130,282,992

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