Westchester Medical Center Foundation Inc
- Assets
- $37.9m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Valhalla, NY
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 13-4095845
Organization Overview
Westchester Medical Center Foundation Inc is located in Valhalla, NY. The organization was established in 2000. 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. Westchester Medical Center 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, Westchester Medical Center Foundation Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT WESTCHESTER COUNTY HEALTH CARE CORPORATION (WCHCC) AND THE HEALTH AND WELFARE SERVICES PROVIDED TO THE COMMUNITIES SERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT VARIOUS INITIATIVES AND PROGRAMS OF WESTCHESTER COUNTY HEALTH CARE CORPORATION IN ACCORDANCE WITH WESTCHESTER MEDICAL CENTER FOUNDATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Michael Mccormack Vice-Chair | OfficerTrustee | 1 | $0 |
Ms Brenda Fareri Vice-Chair | OfficerTrustee | 1 | $0 |
Mr James Ritman Vice-Chair | OfficerTrustee | 1 | $0 |
Mr Zubeen Shroff Chairman | OfficerTrustee | 1 | $0 |
Mr Joseph Markey Vice Chair/treasurer | OfficerTrustee | 1 | $0 |
Mr John F Heimerdinger Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gobel Group Fundraising Services | 12/30/19 | $272,181 |
Persistent Systems Inc Software Development | 12/30/19 | $107,524 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $374,957 |
| Related organizations | $242,349 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,926,799 |
| Noncash contributions included in lines 1a–1f | $896,848 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,544,105 |
| Total Program Service Revenue | $0 |
| Investment income | $343,919 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $682,144 |
| Net Income from Fundraising Events | -$105,994 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $130,707 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,594,881 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,208,902 |
| 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 | $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 | $314,076 |
| Fees for services: Investment Management | $92,657 |
| Fees for services: Other | $0 |
| Advertising and promotion | $55,777 |
| Office expenses | $61,507 |
| Information technology | $54,373 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,073,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $12,559,952 |
| Pledges and grants receivable | $1,636,705 |
| 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 | $149,636 |
| Prepaid expenses and deferred charges | $27,836 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,516,587 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,890,716 |
| Accounts payable and accrued expenses | $99,130 |
| Grants payable | $0 |
| Deferred revenue | $177,116 |
| 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 | $174,773 |
| Total liabilities | $451,019 |
| Net assets without donor restrictions | $17,200,260 |
| Net assets with donor restrictions | $20,239,437 |
| 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 | $37,890,716 |
Grants Awarded
Over the last fiscal year, Westchester Medical Center Foundation Inc has awarded $3,683,327 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WESTCHESTER COUNTY HEALTH CARE CORPORATION PURPOSE: Program support | $3,644,888 |
Suffern, NY PURPOSE: PROGRAM SUPPORT | $30,097 |
Kingston, NY PURPOSE: PROGRAM SUPPORT | $8,342 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Westchester Medical Center Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Kap 508 Foundation Inc Wilmington, DE PURPOSE: MFCH/PEDS ONCOLOGY | $5,000 |
Endowment Analysis
| Beg. Balance | $5,343,096 |
| Earnings | $775,165 |
| Net Contributions | $1,228,614 |
| Ending Balance | $7,346,875 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
Apis Services Inc Reading, PA | $60,776,008 | $15,713,327 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Childrens Specialized Hospital Foundation Inc Mountainside, NJ | $118,333,795 | $21,767,300 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
Overlook Foundation Summit, NJ | $124,262,093 | $22,064,217 |
Broadline Risk Retention Group Inc Colchester, VT | $135,251,113 | $22,474,493 |
Deborah Hospital Foundation Browns Mills, NJ | $27,360,210 | $10,833,977 |
The Childrens Hospital Of Buffalo Foundation Buffalo, NY | $94,191,581 | $13,115,103 |
The St Francis Hospital Foundation Inc Roslyn, NY | $262,392,526 | $17,931,065 |
Lankenau Medical Center Foundation Wynnewood, PA | $483,355,098 | $35,694,086 |
Monmouth Medical Center Foundation Inc Oceanport, NJ | $47,507,975 | $18,905,693 |