Parker Foundation Inc
- Assets
- $1.9b
- Revenue
- $310.0m
- Investments
- $203.1m
- Employees
- 0
- Location
- Piscataway, NJ
- Founding
- 08/2017
- Data as of
- 12/2021
- EIN
- 36-4858938
Organization Overview
Parker Foundation Inc is located in Piscataway, NJ. The organization was established in 2017. 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. Parker 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE CORPORATION SHALL BE TO PROVIDE AND PROMOTE A CARE CONTINUUM FOR THE AGING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARKER FOUNDATION INC.'S FUNCTION IS TO HOLD AND ADMINISTER CERTAIN SUBSTANTIAL UNRESTRICTED INVESTMENT FUNDS FOR THE BENEFIT OF THE CHARITABLE MISSIONS OF PARKER HEALTH GROUP AND ITS AFFILIATED ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Muniz Mpa Flnha President/ceo | OfficerTrustee | 0 | $0 |
William R Hagaman Jr Chairman | OfficerTrustee | 0 | $0 |
Margueritte K Schlag Edd RN Vice Chair | OfficerTrustee | 0 | $0 |
Joseph G Braunreuther ESQ Secretary | OfficerTrustee | 0 | $0 |
John A Papa Treasurer | OfficerTrustee | 0 | $0 |
Edward Matthews CFO | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
State Street Bank And Trust Company Financial Management Services | 12/30/19 | $381,191 |
Blackrock Financial Management Inc Financial Management Services | 12/30/19 | $320,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $34,027,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $275,951,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $309,979,460 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,880,542 |
| 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 | $2,468,361 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $5,348,903 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $415,262 |
| 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 | $1,708,988,242 |
| Investments—other securities | $203,122,853 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,912,526,357 |
| Accounts payable and accrued expenses | $462,075 |
| 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 | $462,075 |
| Net assets without donor restrictions | $1,912,064,282 |
| Net assets with donor restrictions | $0 |
| 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 | $1,912,526,357 |
Grants Awarded
Over the last fiscal year, Parker Foundation Inc has awarded $2,880,542 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Holmdel, NJ PURPOSE: PROVIDE AND PROMOTE A CARE CONTINUUM FOR THE AGING VIA SKILLED NURSING, MEMORY CARE, ASSISTED LIVING, ADULT DAY CARE, REHABILITATION, HEALTHY AGING AND INTERGENERATIONAL AND OTHER PROGRAMS TOGETHER WITH CONDUCTING AND ASSISTING RELATED EDUCATION AND RESEARCH. | $2,500,000 |
CITY OF NEW BRUNSWICK PURPOSE: PROVIDE SUPPORT FOR THE DIAL A RIDE PROGRAM AND SENIOR CITIZEN RESOURCE CENTER FOR THE VIRTUAL VITALITY PROGRAM | $380,542 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Apis Services Inc Reading, PA | $60,776,008 | $15,713,327 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Childrens Specialized Hospital Foundation Inc Mountainside, NJ | $118,333,795 | $21,767,300 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
Overlook Foundation Summit, NJ | $124,262,093 | $22,064,217 |
Deborah Hospital Foundation Browns Mills, NJ | $27,360,210 | $10,833,977 |
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 |
Lankenau Medical Center Foundation Wynnewood, PA | $483,355,098 | $35,694,086 |
Monmouth Medical Center Foundation Inc Oceanport, NJ | $47,507,975 | $18,905,693 |
New York And Presbyterian Hospitals Healthcare System Inc New York, NY | $3,724,021 | $13,051,406 |
Concordia Lutheran Ministriesfoundation Cabot, PA | $226,432,111 | $36,499,919 |