Overlook Foundation
- Assets
- $128.4m
- Revenue
- $14.8m
- Investments
- $10.2m
- Employees
- 0
- Location
- Summit, NJ
- Founding
- 04/1979
- Data as of
- 06/2023
- 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 06/2023, Overlook Foundation generated $14.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $13.4m during the year ending 06/2023. While expenses have increased by 10.1% per year over the past 8 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 478 individual grants totaling $51,804,962. 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
2023
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.AS THE FOUNDATION SURPASSED 80% OF ITS $82.5 MILLION OVERLOOK AHEAD CAMPAIGN GOAL IN 2023, THE COMPREHENSIVE, MULTI-PHASE EXPANSION AND MODERNIZATION OF OVERLOOK'S CAMPUS CONTINUES. CONTINUED IN SCHEDULE O.COMPLETED PROJECTS INCLUDE A NEW CHILDREN'S CENTER, EMERGENCY DEPARTMENT TRIAGE AND WAITING AREAS, AND AN ONSITE EMPLOYEE PARKING DECK, WITH MAJOR RENOVATIONS AND UPDATES TO THE BREAST CENTER UNDERWAY. CONSTRUCTION CONTINUES ON 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. OVERALL, THE HOSPITAL IS RESTRUCTURING SOME 90% OF ITS PATIENT CARE SPACES, INCLUDING NEW MEDICAL INFRASTRUCTURE IN EVERY ROOM AND TRIPLE THE NUMBER OF PRIVATE ROOMS.
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 |
|---|---|---|---|
Jessalyn Chang Chair | OfficerTrustee | 1 | $0 |
Elizabeth Peck Vice Chair | OfficerTrustee | 1 | $0 |
Eric J Shick Treasurer | OfficerTrustee | 1 | $0 |
Karina Calzadilla Secretary | OfficerTrustee | 1 | $0 |
Akshay Kapoor Trustee | Trustee | 1 | $0 |
Al Lord III Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Angeletti Group Llc Consulting Services | 6/29/20 | $214,809 |
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 | $221,404 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,726,208 |
| Noncash contributions included in lines 1a–1f | $1,065,251 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,947,612 |
| Total Program Service Revenue | $0 |
| Investment income | $2,435,159 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,452,357 |
| Net Income from Fundraising Events | -$53,166 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,781,962 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,948,921 |
| Grants and other assistance to domestic individuals. | $320,835 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $662,582 |
| Compensation of current officers, directors, key employees. | $326,057 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,305,917 |
| Pension plan accruals and contributions | $23,000 |
| Other employee benefits | $347,242 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $152,518 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $133,558 |
| Fees for services: Other | $48,385 |
| Advertising and promotion | $92,898 |
| Office expenses | $53,524 |
| Information technology | $57,385 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $31,058 |
| 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 | $79,517 |
| All other expenses | $0 |
| Total functional expenses | $13,358,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $669 |
| Savings and temporary cash investments | $14,952,494 |
| Pledges and grants receivable | $11,218,780 |
| 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 | $22,365 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $88,198,129 |
| Investments—other securities | $10,193,909 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,778,178 |
| Total assets | $128,364,524 |
| Accounts payable and accrued expenses | $642,362 |
| 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 | $3,031,555 |
| Total liabilities | $3,706,632 |
| Net assets without donor restrictions | $13,140,395 |
| Net assets with donor restrictions | $111,517,497 |
| 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 | $128,364,524 |
Grants Awarded
Over the last fiscal year, Overlook Foundation has awarded $9,851,057 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUBS OF UNION COUNTY PURPOSE: SUPPORT THEIR HEALTHY HABITS PROGRAM. | $10,000 |
BRIDGES OUTREACH PURPOSE: PROJECT CONNECT - SUMMIT. | $10,000 |
OVERLOOK MEDICAL CENTER PURPOSE: FOR DETAIL, SEE PART IV - SUPPLEMENTAL INFORMATION. | $9,811,557 |
SAGE ELDERCARE LLC PURPOSE: SPEND-A-DAY ADULT MEDICAL DAY CENTER PROGRAM. | $6,000 |
VOLUNTEER GUARDIANSHIP ONE ON ONE PURPOSE: ESTABLISH A SATELLITE OFFICE NEAR OMC THAT WILL RECRUIT, SCREEN, TRAIN, MATCH, AND SUPPORT VOLUNTEERS IN A ONE-TO-ONE RELATIONSHIP WITH INCAPACITATED ADULT PATIENTS FROM OMC. | $6,500 |
YOUTH & FAMILY COUNSELING SERVICES PURPOSE: PROVIDE FREE PARENT EDUCATION PROGRAM ABOUT MENTAL ILLNESS, ALCOHOL ABUSE AND SUBSTANCE ABUSE. | $7,000 |