Reading Hospital Foundation
- Assets
- $40.7m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Reading, PA
- Founding
- 05/2016
- Data as of
- 06/2022
- 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. 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
2022
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 DONORS, THE READING HOSPITAL FOUNDATION WAS ABLE TO SUPPORT PROGRAMS AT READING HOSPITAL THAT WERE INNOVATIVE, EDUCATIONAL AND RESEARCH BASED. FUNDS WERE RAISED THROUGH APPEALS, DONOR CULTIVATION EVENTS, EMPLOYEE GIVING CAMPAIGN, AND DIRECT SOLICITATION OF MAJOR GIFTS. THE FOUNDATION RAISED FUNDS FOR A MOBILE MAMMOGRAPHY COACH, NURSING EDUCATION, RESIDENT EDUCATION, EQUIPMENT FOR THE EMERGENCY DEPARTMENT AND NICU, PATIENT ASSISTANCE FUNDS, AND THE MCGLINN CANCER INSTITUTE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Ahern Board Member | Trustee | 2 | $0 |
William Jennings Board Memb E | Trustee | 2 | $0 |
Charles Barbera MD Board Member | Trustee | 2 | $0 |
Katherine Thornton President Of | OfficerTrustee | 50 | $316,845 |
Vinti Shah DO Board Member | Trustee | 2 | $0 |
Larry Rotenberg MD Board Member | 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 | $4,003,191 |
| Noncash contributions included in lines 1a–1f | $39,988 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,003,191 |
| 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 | $4,003,191 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,746,178 |
| 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. | $307,327 |
| Compensation of current officers, directors, key employees. | $30,733 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $234,654 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,740 |
| Payroll taxes | $34,790 |
| 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 | $44,022 |
| Advertising and promotion | $12,764 |
| Office expenses | $12,904 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,331 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,375 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,618,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $76,378 |
| 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 | $17,423,555 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,174,932 |
| Total assets | $40,674,865 |
| 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 | $13,579 |
| Total liabilities | $13,579 |
| Net assets without donor restrictions | $52,893 |
| Net assets with donor restrictions | $40,608,393 |
| 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 | $40,674,865 |
Grants Awarded
Over the last fiscal year, Reading Hospital Foundation has awarded $1,746,178 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
READING HOSPITAL PURPOSE: SUPPORT | $1,634,946 |
TOWER HEALTH MEDICAL GROUP PURPOSE: SUPPORT | $111,232 |