South County Health Foundation
- Assets
- $17.9m
- Revenue
- $7.5m
- Investments
- $13.7m
- Employees
- 0
- Location
- Wakefield, RI
- Founding
- Data as of
- 09/2023
- EIN
- 85-4028860
Organization Overview
South County Health Foundation is located in Wakefield, RI. 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. South County 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 09/2023, South County Health Foundation generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 43.7% each year . All expenses for the organization totaled $806.6k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2023, SOUTH COUNTY HEALTH FOUNDATION PROVIDED PLANNING, MANAGEMENT, AND FUNDRAISING ACTIVITIES FOR SOUTH COUNTY HOSPITAL AND SOUTH COUNTY HOME HEALTH. BY PROVIDING THESE SERVICES, THE HOSPITAL AND SOUTH COUNTY HOME HEALTH, WERE ABLE TO FOCUS THEIR ACTIVITIES MORE TOWARD PROVIDING HIGH-QUALITY MEDICAL SERVICES TO PERSONS IN SOUTHERN RHODE ISLAND. THE FOUNDATION WAS INSTRUMENTAL IN HELPING RECRUIT NEW PHYSICIANS TO WORK FOR SOUTH COUNTY HOSPITAL, RAISE ADDITIONAL CHARITABLE DONATIONS FOR THE HOSPITAL SYSTEM, AND TO PROMOTE THE HOSPITAL SYSTEM TO THE COMMUNITY.
DURING THE FISCAL YEAR ENDED SEPTEMBER 30, 2023, SOUTH COUNTY HEALTH FOUNDATION CONTINUED ITS COMPREHENSIVE CAMPAIGN TO RAISE MONEY FOR IMPROVEMENTS TO ITS CAMPUS, UNRESTRICTED MONEY FOR DAILY OPERATIONS AND RESTRICTED FUNDS FOR FUTURE NEEDS. THE CAPITAL NEEDS INCLUDED IN THIS CAMPAIGN ARE ADDITION OF A NEW OPERATING ROOM, ENDOSCOPY SUITE, ED IMPROVEMENTS, HEART AND VASCUALR CENTER OF EXCELLENCE, UPGRADE RADIATION THERAPY WITH A NEW LINEAC, PARKING IMPROVEMENTS AND PLANS FOR A SKYBRIDGE. THE SYSTEM RECOGNIZED THESE ADDITIONS AND IMPROVEMENTS AS CRITICAL NEEDS FOR THE COMMUNITY AND THE GOAL IS FOR THE CAMPAIGN TO SUPLEMENT AT LEAST HALF THE COST OF THESE PROJECTS. AS OF SEPTEMBER 30, 2023, THE SOUTH COUNTY HEALTH FOUNDATION HAS RAISED APPROXIMATELY $19,076,156 OF ITS $25,000,000 GOAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Jalbert VP Of Med Staff | Trustee | 1 | $0 |
Joseph Matthews Chairman | OfficerTrustee | 1 | $0 |
James Farrell Vice Chairman | OfficerTrustee | 1 | $0 |
Noah Benedict Secretary (as Of 4/23) | OfficerTrustee | 1 | $0 |
Betty Rambur PHD RN Treasurer (as Of 4/23) | OfficerTrustee | 1 | $0 |
Victoria A Wicks Trustee, Treasurer (until 4/23) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $755 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,858,140 |
| Noncash contributions included in lines 1a–1f | $5,477 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,858,895 |
| Total Program Service Revenue | $0 |
| Investment income | $5,229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $108,292 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,750 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,459,621 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $538,107 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $123,765 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,896 |
| Fees for services: Accounting | $408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,042 |
| Advertising and promotion | $0 |
| Office expenses | $40,309 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,854 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $895 |
| Insurance | $15,245 |
| All other expenses | $41,163 |
| Total functional expenses | $806,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,507,031 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,553,055 |
| 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 | $78,303 |
| Net Land, buildings, and equipment | $10,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,744,748 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,657 |
| Total assets | $17,914,773 |
| Accounts payable and accrued expenses | $101,966 |
| 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 | $127,707 |
| Total liabilities | $229,673 |
| Net assets without donor restrictions | $2,478,629 |
| Net assets with donor restrictions | $15,206,471 |
| 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 | $17,914,773 |