Ellwood City Hospital Foundation
- Assets
- $10.5m
- Revenue
- $368.4k
- Investments
- $10.5m
- Employees
- 0
- Location
- Ellwood City, PA
- Founding
- 02/2012
- Data as of
- 12/2023
- EIN
- 27-4160006
Organization Overview
Ellwood City Hospital Foundation is located in Ellwood City, PA. The organization was established in 2012. According to its NTEE Classification (F19) the organization is classified as: Support N.E.C., under the broad grouping of Mental Health & Crisis Intervention and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ellwood City Hospital 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 12/2023, Ellwood City Hospital Foundation generated $368.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.5%) each year. All expenses for the organization totaled $407.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (26.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Ellwood City Hospital Foundation has awarded 14 individual grants totaling $640,889. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE, FOSTER, PROMOTE, AND ENHANCE THE QUALITY OF LIFE AND HEALTH FOR THE GENERAL PUBLIC OF ELLWOOD CITY, PENNSYLVANIA, AS WELL AS THE SURROUNDING GEOGRAPHICAL AREAS BY PROVIDING GRANT, GIFTS, AND OTHER DISTRIBUTIONS FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM EXPENSES ARE RELATED TO THE INVESTMENT OF FUNDS. THE LAWRENCE COUNTY ORPHANS COURT DID NOT APPROVE THE PROPOSED CHANGES TO THE FOUNDATION'S ARTICLES OF INCORPORATION AND BY-LAWS. THE FOUNDATION APPEALED THE DECISION OF THE ORPHANS COURT TO THE COMMONWEALTH COURT OF PENNSYLVANIA. THE FOUNDATION CANNOT RELEASE ANY FUNDS UNTIL A RULING IS MADE BY THE COMMONWEALTH COURT OF PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Tomaszewski President | 0.5 | $0 | |
Arthur Smilek Treasurer | 0.5 | $0 | |
Dr Ravi Alagar Secretary | 0.5 | $0 | |
E William Matthews Executive Director | 11 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $193 |
| Dividends & Interest | $286,609 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $81,596 |
| Capital Gain Net Income | $81,596 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $368,398 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,500 |
| Depreciation | $0 |
| Occupancy | $1,650 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24,937 |
| Total operating and administrative expenses | $119,066 |
| Contributions, gifts, grants paid | $288,163 |
| Total expenses and disbursements | $407,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,834 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $10,453,400 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $10,478,234 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Ellwood City Hospital Foundation has awarded $288,163 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BEAVER AREA SCHOOL DISTRICT PURPOSE: VISION SPOT SCREENER | $8,578 |
COMMUNITY COLLEGE OF BEAVER COUNTY PURPOSE: SCHOLARSHIPS | $24,000 |
DEVINE GRACE PARISH MINISTERIUM PURPOSE: WALK-IN FREEZER/REFRIGERATOR AND CHRISTMAS MEALS | $52,455 |
ELLWOOD CITY VOLUNTEER FIRE DEPARTMENT PURPOSE: ALS SQUAD AND PHYSICALS | $171,680 |
ELLWOOD CITY POLICE DEPARTMENT PURPOSE: FIVE AEDS | $6,000 |
GENEVA COLLEGE PURPOSE: SCHOLARSHIPS | $5,000 |