Foundation For Mount Nittany Medical Center
- Assets
- $15.0m
- Revenue
- $6.1m
- Investments
- $13.5m
- Employees
- 8
- Location
- State College, PA
- Founding
- 06/2003
- Data as of
- 06/2022
- EIN
- 57-1138956
Organization Overview
Foundation For Mount Nittany Medical Center, operating under the name Mount Nittany Health Foundation, is located in State College, PA. The organization was established in 2003. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Mount Nittany Health Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mount Nittany Health 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, Mount Nittany Health Foundation generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 11.9% 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.
Since 2015, Mount Nittany Health Foundation has awarded 21 individual grants totaling $11,771,309. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FUNDRAISING & SUPPORT TO FURTHER THE CHARITABLE, EDUCATIONAL & SCIENTIFIC PURPOSES OF MNMC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. IS AN AFFILIATE OF MOUNT NITTANY HEALTH SYSTEM (HEALTH SYSTEM) WHICH INCLUDES AN ACUTE CARE HOSPITAL WITH 260 BEDS (MOUNT NITTANY MEDICAL CENTER), MOUNT NITTANY MEDICAL CENTER HEALTH SERVICES, INC., MOUNT NITTANY PHYSICIAN GROUP, CENTRE COUNTY CHILDREN'S ADVOCACY CENTER, AND THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. THE MISSION IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR PEOPLE OF OUR REGION BY SUPPORTING THE ADVANCEMENT OF HEALTHCARE AT MOUNT NITTANY HEALTH.CONTINUED ON SCHEDULE O.THE FOUNDATION SUPPORTS FUNDRAISING AND OTHER ACTIVITIES TO FURTHER THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF MOUNT NITTANY MEDICAL CENTER ("MNMC"). ACTIVITIES WITHIN FISCAL YEAR 2022 INCLUDED THE FOLLOWING:MOUNT NITTANY HEALTH FOUNDATION RAISED IN CASH GIFTS, $2,287,415 AND $162,500 IN PLEDGE COMMITMENTS FOR THE CHILD ADVOCACY CENTER.THE 30TH ANNUAL GOLF CLASSIC RAISED $201,400 TO SUPPORT CARDIOVASCULAR SERVICES AT MOUNT NITTANY MEDICAL CENTER. THE 74TH ANNUAL CHARITY BALL WAS HELD AT MEDLAR FIELD AT LUBRANO PARK. THE EVENT RAISED $120,000 FOR MOUNT NITTANY HEALTH'S WOMEN AND CHILDREN'S SERVICES.PLEDGE PAYMENTS:- CARDIOVASCULAR PAVILION - COLLECTED $69,449 FROM PAST PLEDGES - PHARMACY FUND - COLLECTED $5,000, FROM A PAST PLEDGES- LINEAR ACCELERATOR - COLLECTED $50,000 FROM A PAST PLEDGESPROGRAMMATIC FUNDINGCHILDREN'S ADVOCACY CENTER (CAC):THE SUPPORT TO THE CAC TOTALED $338,280 WHICH WAS CUMULATIVE FUNDING CENTRE COUNTY JURY PROGRAM, BRIDGE-A-RAMA, CENTRE GIVES, AND GENERAL COMMUNITY SUPPORT.DR. WAYNE J. SEBASTIANELLI LEADERSHIP DEVELOPMENT ENDOWMENT:CREATED THROUGH A LEAD GIFT FROM MOUNT NITTANY MEDICAL CENTER MEDICAL STAFF IN HONOR OF THE SERVICE OF THE CHIEF OF STAFF FOR 20 YEARS, THIS ENDOWMENT WILL SUPPORT PHYSICIANS AND OTHER MEDICAL STAFF ACCESS TO LEADERSHIP TRAINING FOR THE BENEFIT OF MOUNT NITTANY MEDICAL CENTER. OVER $38,000 WAS RAISED IN THIS FISCAL YEAR. OUTPATIENT BUILDING:CLOSE SUPPORTERS OF MOUNT NITTANY HEALTH SUPPORTED THE PLANNING OF THIS EFFORT WITH $100,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William P Hayes Chair | OfficerTrustee | 2 | $0 |
Kay Kustanbauter Vice Chair | OfficerTrustee | 2 | $0 |
Kasandra A Botti DO Secretary | OfficerTrustee | 2 | $0 |
Beth Kalenak Treasurer | OfficerTrustee | 2 | $0 |
Kathleen Rhine President/ceo | OfficerTrustee | 2 | $0 |
Thomas J Taricani Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $300,036 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,874,962 |
| Noncash contributions included in lines 1a–1f | $30,862 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,174,998 |
| Total Program Service Revenue | $0 |
| Investment income | $16,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,909,210 |
| Net Income from Fundraising Events | -$21,831 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,079,084 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,838,041 |
| 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 | $555,950 |
| Pension plan accruals and contributions | $15,600 |
| Other employee benefits | $82,008 |
| Payroll taxes | $45,198 |
| Fees for services: Management | $45,330 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $94,379 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,428 |
| Information technology | $60,400 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $992 |
| 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 | $205 |
| Insurance | $0 |
| All other expenses | $28,093 |
| Total functional expenses | $2,836,639 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $859,088 |
| Pledges and grants receivable | $453,826 |
| 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 | $291 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $149,608 |
| Investments—other securities | $13,544,045 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,006,858 |
| Accounts payable and accrued expenses | $46,376 |
| 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 | $215,646 |
| Total liabilities | $262,022 |
| Net assets without donor restrictions | $9,035,706 |
| Net assets with donor restrictions | $5,709,130 |
| 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 | $15,006,858 |
Grants Awarded
Over the last fiscal year, Foundation For Mount Nittany Medical Center has awarded $1,838,041 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MOUNT NITTANY MEDICAL CENTER PURPOSE: PROVIDE FINANCIAL SUPPORT TO AFFILIATE | $1,696,610 |
CENTRE COUNTY CHILDREN'S ADVOCACY CENTER PURPOSE: PROVIDE FINANCIAL SUPPORT TO AFFILIATE | $141,431 |