New Jersey Health Foundation Inc
- Assets
- $176.3m
- Revenue
- $3.1m
- Investments
- $53.6m
- Employees
- 12
- Location
- Princeton, NJ
- Founding
- 10/2002
- Data as of
- 06/2020
- EIN
- 03-0430873
Organization Overview
New Jersey Health Foundation Inc is located in Princeton, NJ. The organization was established in 2002. According to its NTEE Classification (H11) the organization is classified as: Single Organization Support, under the broad grouping of Medical Research and related organizations. As of 06/2021, New Jersey Health Foundation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Health Foundation Inc 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 06/2020, New Jersey Health Foundation Inc generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $10.0m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO SUPPORT HEALTHCARE EDUCATION, RESEARCH AND PATIENT CARE PROGRAMS IN NEW JERSEY AND OTHER SCIENTIFIC, CHARITABLE, LITERARY AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED GRANTS TO SUPPORT FACULTY CHAIRS, RESEARCH SCHOLARSHIPS, FELLOWSHIPS AND OTHER PROGRAMS AT RUTGERS SCHOOL OF BIOMEDICAL AND HEALTH SCIENCES AND ROWAN SCHOOL OR OSTEOPATHIC MEDICINE IN ACCORDANCE WITH DONOR RESTRICTIONS.
THE ORGANIZATION PROVIDED GRANTS TO THE FACULTY OF RUTGERS SCHOOL OF BIOMEDICAL HEALTH SCIENCES, NEW JERSEY INSTITUTE OF TECHNOLOGY, PRINCETON UNIVERSITY, STEVENS INSTITUTE OF TECHNOLOGY, KESSLER FOUNDATION AND ROWAN SCHOOL OF OSTEOPATHIC MEDICINE TO HELP FURTHER RESEARCH IN A WIDE VARIETY OF MEDICAL AND SCIENTIFIC AREAS.
PAYMENTS TO CHARITABLE GIFT ANNUITANT HOLDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James M Golubieski President | Officer | 30 | $535,442 |
Aggie Worthington VP Finance | Officer | 30 | $276,938 |
Michael Wiley VP | Officer | 35 | $273,796 |
Laura Harrel VP Admin And Hr | Officer | 35 | $214,895 |
Christine Caruso Director Venture Comm. | Officer | 40 | $149,515 |
Dean Janeway Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $530,811 |
| Investment income | $2,609,223 |
| 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 | $3,140,034 |
| Statement of Expenses | |
|---|---|
| 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. | $1,327,950 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $683,777 |
| Pension plan accruals and contributions | $82,053 |
| Other employee benefits | $51,358 |
| Payroll taxes | $38,419 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,864 |
| Fees for services: Accounting | $34,999 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $96,445 |
| Information technology | $42,017 |
| Royalties | $0 |
| Occupancy | $152,401 |
| Travel | $0 |
| 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 | $40,302 |
| Insurance | $122,015 |
| All other expenses | $0 |
| Total functional expenses | $9,972,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $207,964 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $1,201,042 |
| Investments—publicly traded securities | $119,732,260 |
| Investments—other securities | $53,627,180 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,405,621 |
| Total assets | $176,302,881 |
| Accounts payable and accrued expenses | $731,029 |
| Grants payable | $1,595,196 |
| 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 | $1,167,392 |
| Total liabilities | $3,493,617 |
| Net assets without donor restrictions | $47,488,208 |
| Net assets with donor restrictions | $125,321,056 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $172,809,264 |
Grants Awarded
Over the last fiscal year, New Jersey Health Foundation Inc has awarded $7,575,700 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
RUTGERS UNIVERSITY PURPOSE: Research grants to support specific research and technology at Rutgers. | $6,383,256 |
ROWAN UNIVERSITY PURPOSE: Research grants to support specific research and technology at Rowan School of Osteopathic Medicine at Rowan University. | $802,301 |
East Hanover, NJ PURPOSE: Research grants to support specific research and technology at Kessler Institute. | $154,274 |
NEW JERSEY INSTITUTE OF TECHNOLOGY PURPOSE: Research grants to support specific research and technology at NJIT. | $104,620 |
Princeton, NJ PURPOSE: Research grants to support specific research and technology at Princeton University. | $83,573 |
Hoboken, NJ PURPOSE: Research grants to support specific research and technology at Stevens Institute of Technology. | $47,676 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Jersey Health Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $169,090,173 |
| Earnings | $55,812,451 |
| Admin Expense | $478,292 |
| Net Contributions | $85,775 |
| Other Expense | $3,256,127 |
| Grants | $4,883,212 |
| Ending Balance | $216,370,768 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Jersey Health Foundation Inc Princeton, NJ | $176,302,881 | $3,140,034 |
Research To Prevent Blindness Endowment Fund Inc New York, NY | $317,713,049 | $28,546,765 |
Ats Foundation Inc New York, NY | $0 | $224,022 |
Foundation For Advancement Of Intl Medical Education And Research Philadelphia, PA | $73,208,748 | $9,951,039 |
Nccn Foundation Plymouth Meeting, PA | $7,730,910 | $3,697,738 |
Cds Wolf Foundation Inc Webster, NY | $18,173,557 | $6,502,648 |
Parkinson Alliance Inc Kingston, NJ | $464,272 | $616,177 |
Margaret M Dyson Tr Uw Fbo Margaret M Dyson Vision Research Institute Poughkeepsie, NY | $4,372,343 | $800,997 |
Simons Fund Conshohocken, PA | $473,099 | $317,439 |
Commonwealth Housing Legal Services Glenside, PA | $760,384 | $699,820 |
Pan Long Island Challenge Inc Wantagh, NY | $24,805 | $0 |
Denises People Butler, PA | $1,900 | $0 |