Cooperstown Medical Center Foundation
- Assets
- $1.2m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Cooperstown, ND
- Founding
- 02/1957
- Data as of
- 06/2021
- EIN
- 45-0450301
Organization Overview
Cooperstown Medical Center Foundation is located in Cooperstown, ND. The organization was established in 1957. 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. Cooperstown 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 06/2021, Cooperstown Medical Center Foundation generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 69.9% each year . All expenses for the organization totaled $185.6k during the year ending 06/2021. While expenses have increased by 34.0% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SOLE PURPOSE OF THE COOPERSTOWN MEDICAL CENTER FOUNDATION IS TO RAISE FUNDS FOR THE CONTINUED GROWTH OF THE COOPERSTOWN MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOPERSTOWN MEDICAL CENTER STRIVES TO OFFER THE BEST CARE AVAILABLE THROUGHOUT GRIGGS COUNTY AND SURROUNDING COMMUNITIES. PATIENT FEES ALONE DO NOT COVER THE COST OF THE CARE WE PROVIDE OR ALLOW US TO MAINTAIN AND IMPROVE OUR SERVICES. AS A NONPROFIT HEALTH SYSTEM, WE MUST RELY ON PARTNERSHIPS WITH FRIENDS AND NEIGHBORS TO MAINTAIN AND IMPROVE OUR SERVICES AND THAT IS WHERE CMC FOUNDATION COMES IN. THE FOUNDATION SUPPORTS THE OPERATIONS OF THE COOPERSTOWN MEDICAL CENTER THROUGH SPONSORSHIP AND FUNDRAISING EVENTS. DURING THE FISCAL YEAR THE FOUNDATION STARTED A CAPITAL CAMPAIGN TO RAISE FUNDS FOR THE NEW HOSPITAL. THE FOUNDATION ALSO HELD A GOLF TOURNAMENT, COMMUNITY SOCIAL EVENT BOOTS TO BLING AND PARTICIPATED IN GIVING HEARTS DAY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Dewald President | OfficerTrustee | 1 | $0 |
Stacy Aarestad Treasurer | OfficerTrustee | 1 | $0 |
Melissa Myers Foundation Director | Officer | 40 | $0 |
Barbara Anderson Cmc/gccc CFO | Officer | 1 | $0 |
Nicole Johnson Cmc/gccc CEO | Trustee | 1 | $0 |
Jim Halvorson Director (began May 2021) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $9,548 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,227,284 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,236,832 |
| Total Program Service Revenue | $0 |
| Investment income | $231 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,752 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,148 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,230,163 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,421 |
| 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 | $1,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $119,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $691 |
| Office expenses | $1,267 |
| 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 | $5,830 |
| Insurance | $0 |
| All other expenses | $1,899 |
| Total functional expenses | $185,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $470,814 |
| Pledges and grants receivable | $743,067 |
| 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 | $30,519 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,244,400 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $88,287 |
| Net assets with donor restrictions | $1,156,113 |
| 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 | $1,244,400 |
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