Friends Of Bassett Inc
- Assets
- $13.3m
- Revenue
- $3.2m
- Investments
- $9.2m
- Employees
- 0
- Location
- Cooperstown, NY
- Founding
- 10/1969
- Data as of
- 12/2022
- EIN
- 23-7041610
Organization Overview
Friends Of Bassett Inc, operating under the name Friends Of Bassett Healthcare, is located in Cooperstown, NY. The organization was established in 1969. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Bassett Healthcare 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, Friends Of Bassett Healthcare generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. While expenses have increased by 1.8% 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.
Since 2014, Friends Of Bassett Healthcare has awarded 64 individual grants totaling $31,191,026. 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
THE PURPOSE OF THE FRIENDS IS TO PROMOTE THE WELFARE OF ALL BASSETT HEALTHCARE NETWORK MEMBERS. BASSETT HEALTHCARE (BHN) IS THE SOLE MEMBER OF THE MARY IMOGENE BASSETT HOSPITAL, BASSETT REGIONAL CORPORATION (BRC), AURELIA OSBORN FOX MEMORIAL HOSPITAL SOCIETY, TEMPLETON FOUNDATION, BASSETT HOSPITAL OF SCHOHARIE COUNTY, O'CONNOR HOSPITAL, VALLEY HEALTH SERVICES, AND LITTLE FALLS HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OPROGRAM SERVICE ACCOMPLISHMENTS IN 2022, THE FRIENDS OF BASSETT SOLICITED CONTRIBUTIONS (FOR THE MARY IMOGENE BASSETT HOSPITAL, BASSETT HOSPITAL OF SCHOHARIE COUNTY, O'CONNOR HOSPITAL, LITTLE FALLS HOSPITAL, VALLEY HEALTH SERVICES, AO FOX HOSPITAL, AND TEMPLETON FOUNDATION) OF APPROXIMATELY $3.13M IN NEW REVENUE FOR THE MEMBERS OF BASSETT HEALTHCARE NETWORK; THE TOTAL WAS MADE UP OF THE FOLLOWING CATEGORIES:1) APPROXIMATELY $1,095,000 WAS IN UNRESTRICTED INCOME TO SUPPORT OPERATIONS OF THE ORGANIZATIONS FOR WHICH THE FRIENDS RAISE FUNDS2) APPROXIMATELY $202,000 FOR PATIENT ASSISTANCE & RURAL FARM ASSITANCE3) APPROXIMATELY $485,000 TO SUPPORT EQUIPMENT PURCHASES4) APPROXIMATELY $825,000 TO SUPPORT MEDICAL STAFF EDUCATION AND RESEARCH5) APPROXIMATELY $254,000 TO SUPPORT SCHOOL-BASED HEALTH CENTERS6) APPROXIMATELY $253,000 FOR A VARIETY OF OTHER PURPOSES AS DESIGNATED BY THE DONORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Zogby Chairman | OfficerTrustee | 0.5 | $0 |
James Patrick Treasurer | OfficerTrustee | 0.5 | $0 |
Bill Moseley Secretary | OfficerTrustee | 0.5 | $0 |
Joyce Barber Board Member | Trustee | 0.5 | $0 |
Heidi Carmardello Board Member | Trustee | 0.5 | $0 |
Dave Casullo Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $245,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,891,445 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,136,445 |
| Total Program Service Revenue | $0 |
| Investment income | $51,546 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $343 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,188,334 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,725,335 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,668 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,732,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,420,108 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $752,285 |
| 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 | $964,499 |
| Investments—other securities | $9,159,703 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,296,595 |
| Accounts payable and accrued expenses | $1,217,889 |
| 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 | $0 |
| Total liabilities | $1,217,889 |
| Net assets without donor restrictions | $1,670,599 |
| Net assets with donor restrictions | $10,408,107 |
| 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 | $13,296,595 |
Grants Awarded
Over the last fiscal year, Friends Of Bassett Inc has awarded $3,725,335 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BASSETT MEDICAL CENTER PURPOSE: SUPPORT | $2,127,789 |
BASSETT HOSPITAL SCHOHARIE COUNTY PURPOSE: SUPPORT | $283,090 |
O'CONNOR HOSPITAL PURPOSE: SUPPORT | $239,589 |
LITTLE FALLS HOSPITAL PURPOSE: SUPPORT | $76,900 |
AO FOX HOSPITAL PURPOSE: SUPPORT | $449,421 |
VALLEY HEALTH SERVICES PURPOSE: SUPPORT | $93,022 |