Vassar Brothers Hospital Foundation
- Assets
- $58.6m
- Revenue
- $4.1m
- Investments
- $40.3m
- Employees
- 0
- Location
- Poughkeepsie, NY
- Founding
- 07/1991
- Data as of
- 09/2021
- EIN
- 14-1736429
Organization Overview
Vassar Brothers Hospital Foundation is located in Poughkeepsie, NY. The organization was established in 1991. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, 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. Vassar Brothers Hospital 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 09/2021, Vassar Brothers Hospital Foundation generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $8.6m during the year ending 09/2021. 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
FUNDRAISING FOR THE HOSPITAL AND AFFILIATE'S BENEFIT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FOR VBMC SOLICITS, RECEIVES AND ADMINISTERS FUNDS WHICH ARE PROVIDED BY THE GENERAL PUBLIC FOR THE BENEFIT OF VASSAR BROTHERS MEDICAL CENTER AND ITS CHARITABLE AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Hunt Lee Vice Chairman | OfficerTrustee | 1 | $0 |
Margaret Bova Chairman | OfficerTrustee | 1 | $0 |
Carolyn Mckenna Asst. Sec (to 12/31); Sec/clo | Officer | 1 | $0 |
Grace Linhard Chief Development Officer | Officer | 1 | $0 |
Steven H Rosenberg Treasurer/cfo | Officer | 1 | $0 |
Ann Armater SVP Development (to 12/31) | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,316,538 |
| Noncash contributions included in lines 1a–1f | $67,956 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,316,538 |
| Total Program Service Revenue | $0 |
| Investment income | $1,735,252 |
| 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 | $4,051,790 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,667,559 |
| 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 | $0 |
| Fees for services: Investment Management | $82,269 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $4,448 |
| Insurance | $0 |
| All other expenses | $1,886,088 |
| Total functional expenses | $8,640,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,775,807 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,908,090 |
| Accounts receivable, net | $23,034 |
| 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 | $100 |
| Net Land, buildings, and equipment | $28,079 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $40,273,468 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $552,347 |
| Total assets | $58,560,925 |
| Accounts payable and accrued expenses | $4,870 |
| Grants payable | $0 |
| Deferred revenue | $40,842 |
| 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 | $105,187 |
| Total liabilities | $150,899 |
| Net assets without donor restrictions | $35,314,354 |
| Net assets with donor restrictions | $23,095,672 |
| 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 | $58,560,925 |
Grants Awarded
Over the last fiscal year, Vassar Brothers Hospital Foundation has awarded $6,667,559 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Poughkeepsie, NY PURPOSE: OPERATIONAL SUPPORT | $6,642,460 |
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $19,099 |
Lagrangeville, NY PURPOSE: OPERATIONAL SUPPORT | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Vassar Brothers Hospital Foundation has recieved totaling $183,743.
| Awarding Organization | Amount |
|---|---|
Community Foundations Of The Hudson Valley Poughkeepsie, NY PURPOSE: HEALTH CARE | $107,393 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $69,350 |
Herbert H Redl Family Foundation Poughkeepsie, NY PURPOSE: GENERAL SUPPORT | $5,000 |
George T Whalen Jr Foundation Inc Millbrook, NY PURPOSE: GENERAL OPERATIONS | $2,000 |
Endowment Analysis
| Beg. Balance | $448,429 |
| Earnings | $48,379 |
| Net Contributions | $100,000 |
| Ending Balance | $596,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Long Island Select Healthcare Inc Central Islip, NY | $8,265,975 | $21,062,448 |
Lvhn Scranton Orthopedic Specialists Allentown, PA | $3,870,668 | $16,734,711 |
Guthrie Towanda Memorial Hospital Towanda, PA | $0 | $13,772,403 |
Lehigh Valley Hospital - Coordinated Health Bethlehem Allentown, PA | $0 | $23,779,920 |
Margaretville Memorial Hospital Margaretville, NY | $7,505,744 | $15,666,335 |
Shore Rehabilitation Institute Inc Brick, NJ | $9,020,027 | $18,706,830 |
Geisinger Jersey Shore Hospital Danville, PA | $29,794,644 | $19,405,127 |
Upmc Pittsburgh, PA | $6,204,114 | $10,718,414 |
Community Medical And Dental Care Monsey, NY | $10,163,630 | $17,584,178 |
Rochester Regional Health Foundation Rochester, NY | $93,100,640 | $25,028,358 |
Lourdes Cardiology Services Pc Marlton, NJ | $93,350 | $14,562,644 |
Legacy Waterbury Hospital Inc Waterbury, CT | $10,097,657 | $5,007,818 |