Virtua Health Foundation Inc
- Assets
- $110.1m
- Revenue
- $9.1m
- Investments
- $96.0m
- Employees
- 0
- Location
- Marlton, NJ
- Founding
- 01/2003
- Data as of
- 12/2021
- EIN
- 04-3722352
Organization Overview
Virtua Health Foundation Inc is located in Marlton, NJ. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virtua 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 12/2021, Virtua Health Foundation Inc generated $9.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $31.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Virtua Health Foundation Inc has awarded 30 individual grants totaling $54,633,942. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
VIRTUA FOUNDATION IS THE RESOURCE DEVELOPMENT ARM OF VIRTUA, A NON-PROFIT HEALTHCARE SYSTEM PROVIDING THE BEST CARE FOR FAMILIES ACROSS SOUTH JERSEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRTUA FOUNDATION ENDOWMENT GIFT TO ROWAN UNIVERSITY TO ESTABLISH A NEW ACADEMIC HEALTH SYSTEM TO PROMOTE AND ENHANCE CLINICAL EDUCATION, RESEARCH, AND CLINICAL ACTIVITIES.
VIRTUA FOUNDATION SOLICITED FUNDS ON BEHALF OF VIRTUA HEALTH, INC. A RELATED ENTITY. THESE FUNDS WILL BE USED TOWARD PROGRAMS OF EXCELLENCE WITHIN VIRTUA. VIRTUA FOUNDATION AND OUR PARTNERS IN THE COMMUNITY RAISE FUNDS TO SUPPORT THE PROGRAMS AND SERVICES FAMILIES RELY ON AT VIRTUA, A NON-PROFIT HEALTHCARE SYSTEM DEDICATED TO HELPING YOU BE WELL, GET WELL AND STAY WELL. VIRTUA FOUNDATION BELIEVES THAT BY WORKING TOGETHER THROUGH ACTS OF KINDNESS AND GENEROSITY, WE CAN ENSURE THAT EVERY MEMBER OF OUR COMMUNITY HAS ACCESS TO TOP-QUALITY HEALTH CARE.
VIRTUA FOUNDATION SOLICITED FUNDS ON BEHALF OF VIRTUA-MEMORIAL HOSPITAL, A RELATED ENTITY. THESE FUNDS WILL BE USED FOR PATIENT CARE, NEW MEDICAL EQUIPMENT AND RENOVATIONS TO THE HOSPITAL BUILDING.
VIRTUA HEALTH REHAB CENTER @ BERLIN (SOLICITED FUNDS)EXPENSE OF $675GRANT OF $675VIRTUA HEALTH REHAB CENTER @ MT. HOLLY (SOLICITED FUNDS)EXPENSE OF $1,169GRANT OF $1,169VIRTUA MEDICAL GROUP (SOLICITED FUNDS)EXPENSE OF $4,311GRANT OF $4,311COLLEAGUE CARE FUNDEXPENSE OF $152,561GRANT OF $152,561CONTINUING MEDICAL EDUCATION: FUNDS COLLECTED TO HELP OFFSET THE COST OF CME FOR DOCTORS AND NURSES.EXPENSE OF $63,705GRANT OF $63,705VIRTUA WEST JERSEYEXPENSE OF -$4,044GRANT OF -$4,044HOSPITAL RELATED: VARIOUS PROGRAMSEXPENSE OF $839,994
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Parker Chairman | OfficerTrustee | 0.83 | $0 |
Richard Silpe ESQ Treasurer | OfficerTrustee | 0.83 | $0 |
Dennis W Pullin President/ceo | OfficerTrustee | 0.1 | $0 |
Damien Ghee Vice Chairman | OfficerTrustee | 0.83 | $0 |
Sarah Fawcett-Lee SVP Of Foundation | Officer | 29 | $0 |
Robert M Segin Evp/cfo | Officer | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $114,702 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,085,054 |
| Noncash contributions included in lines 1a–1f | $27,306 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,199,756 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,932,940 |
| Net Income from Fundraising Events | -$9,500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,123,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,398,503 |
| Grants and other assistance to domestic individuals. | $207,253 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,516 |
| Fees for services: Investment Management | $313,404 |
| Fees for services: Other | $115,992 |
| Advertising and promotion | $4,340 |
| Office expenses | $65,884 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,902 |
| Travel | $954 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,366 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,671 |
| Insurance | $0 |
| All other expenses | $285 |
| Total functional expenses | $31,401,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,269,587 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,882,492 |
| 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 | $135,633 |
| Net Land, buildings, and equipment | $8,894 |
| Investments—publicly traded securities | $5,857 |
| Investments—other securities | $96,023,668 |
| Investments—program-related | $9,811,967 |
| Intangible assets | $0 |
| Other assets | $95 |
| Total assets | $110,138,193 |
| Accounts payable and accrued expenses | $269,717 |
| Grants payable | $19,991,159 |
| Deferred revenue | $9,072 |
| 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 | $26,063,630 |
| Total liabilities | $46,333,578 |
| Net assets without donor restrictions | $51,805,358 |
| Net assets with donor restrictions | $11,999,257 |
| 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 | $110,138,193 |
Grants Awarded
Over the last fiscal year, Virtua Health Foundation Inc has awarded $29,387,379 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Glassboro, NJ PURPOSE: PROMOTE AND ENHANCE CLINICAL EDUCATION, RESEARCH, AND CLINICAL ACTIVITIES. | $25,000,000 |
Marlton, NJ PURPOSE: MEDICAL EDUCATION AND SUPPORT FOR VIRTUA HEALTH'S PROGRAMS OF EXCELLENCE. | $3,737,341 |
Marlton, NJ PURPOSE: PURCHASE UPGRADES TO MEDICAL EQUIPMENT AND TO ENHANCE PATIENT CARE. | $650,038 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virtua Health Foundation Inc has recieved totaling $18,015.
| Awarding Organization | Amount |
|---|---|
Estate Of Lee E Griscom In Trust Acct 1216 Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $13,850 |
Mahlon F Shreve Trust Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $4,165 |
Endowment Analysis
| Beg. Balance | $12,265,347 |
| Earnings | $1,429,309 |
| Admin Expense | $101,016 |
| Other Expense | $419,353 |
| Ending Balance | $13,174,286 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Montefiore Medicine Academic Health Self Insurance Trist Bronx, NY | $287,426,872 | $78,028,348 |
Via Affiliates Doylestown, PA | $20,467,499 | $60,672,147 |
Cancer Care Co-Payment Assistance Foundation Inc New York, NY | $80,171,765 | $74,806,659 |
Dorothy Rider Pool Health Care Tr Uw L P Pool No 8 76431 Pittsburgh, PA | $33,435 | $17,533,563 |
Hss Properties Corporation New York, NY | $595,585,404 | $72,958,189 |
Royal Charter Properties - East Inc New York, NY | $212,621,601 | $60,926,484 |
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 |