Reading Hospital Foundation
- Assets
- $47.7m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 4
- Location
- Reading, PA
- Founding
- 05/2016
- Data as of
- 06/2021
- EIN
- 47-3054125
Organization Overview
Reading Hospital Foundation, operating under the name Fkareading Health System Foundation, is located in Reading, PA. The organization was established in 2016. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 06/2021, Fkareading Health System Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fkareading Health System Foundation 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
TO SUPPORT INNOVATION, EDUCATION, RESEARCH AND OVERALL IMPROVEMENT OF HEALTHCARE SERVICES IN SUPPORT OF READING HOSPITAL AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE GENEROSITY OF THOUSANDS OF DONERS, THE READING HOSPITAL FOUNDATION WAS ABLE TO SUPPORT PROGRAMS AT READING HOSPITAL THAT WERE INNOVATIVE, EDUCATIONAL AND RESEARCH BASED. OVER THE LAST 22 MONTHS, OUR HOSPITAL, COMMUNITY, AND NATION HAVE FACED EXCEPTIONAL CHALLENGES. THROUGH IT ALL, THE GENEROSITY OF OUR BENEFACTORS HAS IMPROVED PATIENT CARE, ASSISTED COVID TREATMENT, PROVIDED FUNDING FOR MEDICAL RESEARCH, AND ALLOWED FOR CLINICAL EDUCATION TO ENSURE OUR HOSPITAL DELIVERS HEALTHCARE AT THE HIGHEST LEVEL IN OUR REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Thornton President Of | OfficerTrustee | 50 | $288,979 |
Paul Cohn Vice Chairma | OfficerTrustee | 2 | $0 |
Jeff Rush Chairman | OfficerTrustee | 2 | $0 |
Bunny Zintak Secretary | OfficerTrustee | 2 | $0 |
P Michael Ehlerman Treasurer | OfficerTrustee | 2 | $0 |
William Jennings Board/evp & | Trustee | 2 | $0 |
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 | $5,935,033 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,935,033 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,935,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,896,268 |
| 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. | $316,560 |
| Compensation of current officers, directors, key employees. | $31,656 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,822 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,636 |
| Payroll taxes | $31,061 |
| 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 | $36,002 |
| Advertising and promotion | $21,578 |
| Office expenses | $10,730 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,138 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,587,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $658,388 |
| 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 | $21,565,614 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,478,202 |
| Total assets | $47,702,204 |
| 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 | $1,524,213 |
| Total liabilities | $1,524,213 |
| Net assets without donor restrictions | -$1,532,648 |
| Net assets with donor restrictions | $47,710,639 |
| 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 | $47,702,204 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Reading Hospital Foundation has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Berkshire Charitable Foundation Wilmington, DE PURPOSE: CARDIAC CATHETERIZATION LAB | $20,000 |
Berkshire Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
Endowment Analysis
| Beg. Balance | $17,734,395 |
| Earnings | $3,450,713 |
| Admin Expense | $27,682 |
| Net Contributions | $3,505,810 |
| Ending Balance | $24,663,236 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Monongalia Health System Inc Morgantown, WV | $86,745,766 | $16,010,701 |
Main Line Health System Newtown Square, PA | $716,989,438 | $16,528,062 |
Albany Medical Center Saratoga Springs, NY | $17,328,223 | $18,761,699 |
Keystone Human Services Harrisburg, PA | $87,650,682 | $15,974,485 |
Metropolitan Medical Practice Plan Pc Bronx, NY | $6,076,770 | $14,643,918 |
Gslpg Inc Allentown, PA | $2,068,397 | $14,256,674 |
Wellspan Health Care Services York, PA | $27,111,355 | $16,698,867 |
Fisher Titus Health Norwalk, OH | $26,776,326 | $13,778,991 |
Heritage Valley Health System Inc Beaver, PA | $119,093,589 | $30,915,024 |
Pittsburgh Mercy Health System Inc Pittsburgh, PA | $67,521,734 | $13,055,628 |
Western Maryland Health Care Corporation Oakland, MD | $13,609,447 | $14,070,540 |