Overlook Foundation
- Assets
- $124.3m
- Revenue
- $22.1m
- Investments
- $14.6m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- 04/1979
- Data as of
- 06/2022
- EIN
- 51-0194054
Organization Overview
Overlook Foundation is located in Summit, NJ. The organization was established in 1979. 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. Overlook 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 06/2022, Overlook Foundation generated $22.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $17.0m during the year ending 06/2022. While expenses have increased by 15.4% per year over the past 7 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.
Since 2015, Overlook Foundation has awarded 524 individual grants totaling $45,303,775. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR MISSION STATEMENTTHE MISSION OF THE OVERLOOK FOUNDATION IS TO DEVELOP, MANAGE, AND DISTRIBUTE RECOURCES TO ADVANCE THE DELIVERY OF HIGH-QUALITY HEALTH CARE BY OVERLOOK MEDICAL CENTER.
Describe the Organization's Program Activity:
OVERLOOK FOUNDATION PROVIDES CRITICAL FUNDING TO OVERLOOK MEDICAL CENTER TO ENSURE THAT IT REMAINS AT THE FOREFRONT OF MEDICAL CARE. WE SUPPORT THE PURCHASE OF STATE-OF-THE-ART EQUIPMENT, THE CONSTRUCTION OF NEW FACILITIES, ENDOWMENTS FOR MEDICAL LEADERSHIP, NURSING SCHOLARSHIPS, PROFESSIONAL DEVELOPMENT, TRAINING AND EDUCATION, AS WELL AS INNOVATIVE PROGRAMS TO ENHANCE THE PATIENT AND CAREGIVER EXPERIENCE.NOW IN ITS PUBLIC PHASE, THE OVERLOOK AHEAD COMPREHENSIVE CAMPAIGN TO TRANSFORM OVERLOOK INTO A HOSPITAL OF THE FUTURE WILL FUND CONSTRUCTION AND RENOVATIONS TO 90% OF PATIENT CARE AREAS AND TRIPLE THE NUMBER OF INDIVIDUAL PATIENT ROOMS. CONTINUED IN SCHEDULE O.PLANS INCLUDE A NEW CHILDREN'S CENTER, EMERGENCY DEPARTMENT TRIAGE AND WAITING AREAS, AN ONSITE EMPLOYEE PARKING DECK, A NEW NEUROSCIENCE UNIT WITH EXPANDED NEURO ICU, A NEW CARDIOVASCULAR CENTER WITH ENHANCED CRITICAL AND INTENSIVE CARE UNITS, A NEW MATERNITY CENTER WITH TWO NEW C-SECTION SURGICAL SUITES, AND A SIGNIFICANT INCREASE IN THE NUMBER OF BOTH SAME-DAY AND MAIN OPERATING ROOMS. ADDITIONAL INVESTMENTS IN CLINICAL STAFF AND MEDICAL RESEARCH WILL BE FUNDED THROUGH DONOR SUPPORT AS WELL.
TO PROVIDE DIRECT SUPPORT TO OVERLOOK MEDICAL CENTER - ALIGNED ORGANIZATIONS AND INITIATIVES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clelia Biamonti PHD Executive Director | Officer | 40 | $359,282 |
Kenneth Cole Director | 40 | $242,373 | |
Kimberly Myler Assist. Secretary, Dir. Fin & Op | Officer | 40 | $169,495 |
Lorie Mcdonald Director | 40 | $163,136 | |
Marianne Devlin Director | 40 | $142,253 | |
Kerry Mowry Director | 40 | $127,825 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Angeletti Group Llc Consulting Services | 6/29/20 | $214,809 |
The Angeletti Group Llc Consulting Services | 6/29/20 | $214,809 |
Crane Tonelli Rosenberg & Co Llp Accounting Services | 6/29/20 | $173,537 |
Crane Tonelli Rosenberg & Co Llp Accounting Services | 6/29/20 | $173,537 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $265,644 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,673,569 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,939,213 |
| Total Program Service Revenue | $0 |
| Investment income | $2,117,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,123,685 |
| Net Income from Fundraising Events | -$115,780 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,064,217 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,744,427 |
| Grants and other assistance to domestic individuals. | $248,157 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $704,724 |
| Compensation of current officers, directors, key employees. | $352,362 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,175,532 |
| Pension plan accruals and contributions | $72,168 |
| Other employee benefits | $182,450 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,501 |
| Fees for services: Accounting | $165,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $148,747 |
| Fees for services: Other | $109,198 |
| Advertising and promotion | $112,255 |
| Office expenses | $66,299 |
| Information technology | $45,239 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,985 |
| 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 | $25,716 |
| All other expenses | $0 |
| Total functional expenses | $16,953,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $669 |
| Savings and temporary cash investments | $10,954,306 |
| Pledges and grants receivable | $10,305,052 |
| 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 | $31,770 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $82,772,058 |
| Investments—other securities | $14,602,227 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,596,011 |
| Total assets | $124,262,093 |
| Accounts payable and accrued expenses | $648,143 |
| Grants payable | $32,715 |
| 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 | $4,814,327 |
| Total liabilities | $5,495,185 |
| Net assets without donor restrictions | $11,455,115 |
| Net assets with donor restrictions | $107,311,793 |
| 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 | $124,262,093 |
Grants Awarded
Over the last fiscal year, Overlook Foundation has awarded $13,655,516 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
OVERLOOK MEDICAL CENTER PURPOSE: OVERLOOK AHEAD CAPITAL CAMPAIGN PROJECT | $8,752,405 |
OVERLOOK MEDICAL CENTER PURPOSE: SUPPORT OF NEW HIRES, SUMMER EXTERN PROGRAM AND SALARIES | $763,407 |
OVERLOOK MEDICAL CENTER PURPOSE: COVID RELATED GRANTS | $584,193 |
OVERLOOK MEDICAL CENTER PURPOSE: BRAIN TUMOR CENTER SALARY SUPPORT - VARIOUS POSITIONS | $565,143 |
OVERLOOK MEDICAL CENTER PURPOSE: SUPPORT FOR CHILDREN WITH CANCER | $341,016 |
OVERLOOK MEDICAL CENTER PURPOSE: ULTRASOUNDS (POCUS) FOR RESIDENTS | $301,181 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Overlook Foundation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Welsh Family Foundation Inc Vero Beach, FL PURPOSE: UNRESTRICTED | $5,000 |
Endowment Analysis
| Beg. Balance | $70,714,025 |
| Earnings | -$6,980,399 |
| Net Contributions | $281,177 |
| Grants | $2,419,729 |
| Ending Balance | $61,595,074 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ufcw Local 1776 & Participating Employers Health & Welfare Fund Plymouth Meeting, PA | $60,321,476 | $63,078,058 |
Five Pointe Professional Liability Insurance Company Wilmington, DE | $241,906,004 | $45,761,537 |
Childrens Hospital Pittsburgh Foundation Pittsburgh, PA | $343,464,938 | $65,119,589 |
Steamfitters Local 449 Medical & Benefit Fund Harmony, PA | $89,351,885 | $44,512,937 |
Virtua Health Foundation Inc Marlton, NJ | $110,138,193 | $9,123,196 |
The Erm Group Health & Welfare Trust Malvern, PA | $0 | $29,217,705 |
Marcus Avenue Medical Pc Westbury, NY | $15,403,274 | $17,010,236 |
Indiana Jefferson Radiation Oncology Inc Indiana, PA | $76,804 | $26,313,559 |
Transport Workers Union Roseland, NJ | $16,248,570 | $20,384,690 |
Geisinger Health Danville, PA | $3,255,726,286 | $301,727,565 |
Alyeska Pipeline Service Company Health And Welfare Benefits Trust Pittsburgh, PA | $2,121,654 | $18,868,152 |
Apis Services Inc Reading, PA | $60,776,008 | $15,713,327 |