Norwalk Hospital Foundation Inc
- Assets
- $172.6m
- Revenue
- $29.3m
- Investments
- $129.5m
- Employees
- 0
- Location
- Norwalk, CT
- Founding
- 04/1986
- Data as of
- 09/2021
- EIN
- 22-2577707
Organization Overview
Norwalk Hospital Foundation Inc is located in Norwalk, CT. The organization was established in 1986. 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. Norwalk Hospital 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 09/2021, Norwalk Hospital Foundation Inc generated $29.3m 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 (10.7%) each year. All expenses for the organization totaled $6.5m 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
THE MISSION OF NORWALK HOSPITAL FOUNDATION IS TO RAISE FUNDS, REINVEST AND ADMINISTER THESE FUNDS AND MAKE DISTRIBUTIONS TO NORWALK HOSPITAL AND OTHER NOT-FOR-PROFIT NORWALK HOSPITAL AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION FUNDS WERE USED TO SUPPORT A VARIETY OF PATIENT CARE PROGRAMS, SEVERAL KEY POSITIONS, SCHOLARSHIPS, CONTINUING PROFESSIONAL EDUCATION & TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leonard Dinardo Vice Chairman | OfficerTrustee | 1 | $0 |
Lisa Esneault Chairman | OfficerTrustee | 1 | $0 |
Carolyn Mckenna Secretary/chief Legal Officer | Officer | 1 | $0 |
Steven H Rosenberg Treasurer/cfo | Officer | 1 | $0 |
Grace Linhard Chief Development Officer | Officer | 1 | $0 |
Pradip Pathare MD To 1231 Director/physician | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,787 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,477,310 |
| Noncash contributions included in lines 1a–1f | $230,180 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,555,097 |
| Total Program Service Revenue | $0 |
| Investment income | $7,736,597 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,036 |
| Net Income from Fundraising Events | $2,290 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,289,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,082,448 |
| 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 | $139,042 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $47,773 |
| 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 | $11,466 |
| Insurance | $0 |
| All other expenses | $3,182,773 |
| Total functional expenses | $6,463,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,614,212 |
| Savings and temporary cash investments | $5,439,625 |
| Pledges and grants receivable | $34,957,010 |
| Accounts receivable, net | $6,090 |
| 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 | $56,320 |
| Net Land, buildings, and equipment | $32,456 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $129,499,561 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $172,605,274 |
| Accounts payable and accrued expenses | $550 |
| 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 | $1,253,461 |
| Total liabilities | $1,254,011 |
| Net assets without donor restrictions | $85,383,400 |
| Net assets with donor restrictions | $85,967,863 |
| 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 | $172,605,274 |
Grants Awarded
Over the last fiscal year, Norwalk Hospital Foundation Inc has awarded $2,981,479 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Norwalk, CT PURPOSE: OPERATIONAL SUPPORT | $1,964,700 |
Bethel, CT PURPOSE: OPERATIONAL SUPPORT | $514,801 |
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $302,540 |
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $175,593 |
Poughkeepsie, NY PURPOSE: OPERATIONAL SUPPORT | $23,845 |
Grants Recieved
Over the last fiscal year, we have identified 21 grants that Norwalk Hospital Foundation Inc has recieved totaling $1,118,093.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $625,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $135,700 |
Cornelia T Bailey Charitable Trust West Palm Beach, FL PURPOSE: A PANCREATIC SCREENING STUDY IN HIGH-RISK INDIVIDUALS INCLUDING THOSE WITH RECENT-ONSET DIABETES | $100,000 |
American Endowment Foundation Hudson, OH PURPOSE: HEALTH, GENERAL | $55,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $52,500 |
Robert And Diana Borman Family Foundation Darien, CT PURPOSE: GENERAL OPERATING SUPPORT | $34,000 |
Endowment Analysis
| Beg. Balance | $33,591,729 |
| Earnings | $4,945,636 |
| Net Contributions | $394,542 |
| Other Expense | $618,284 |
| Ending Balance | $38,313,623 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rhode Island Hospital Foundation Providence, RI | $69,328,658 | $16,409,972 |
Alliance Health Of Quincy Inc Southborough, MA | $18,309,564 | $19,847,469 |
New York State Health Foundation New York, NY | $362,119,820 | $12,287,243 |
Hospital For Special Surgery Fund Inc New York, NY | $132,917,931 | $24,476,361 |
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 |
International Union Operating Engineers Johnston, RI | $24,623,216 | $15,388,250 |
Danbury Hospital & New Milford Hospital Foundation Inc Danbury, CT | $175,854,316 | $24,324,982 |
New York And Presbyterian Hospitals Healthcare System Inc New York, NY | $3,724,021 | $13,051,406 |
Connecticut Childrens Foundation Inc Hartford, CT | $208,742,176 | $23,151,101 |
Umh Jgj Corp Binghamton, NY | $8,297,454 | $12,939,554 |
Kaleida Health Foundation Buffalo, NY | $51,635,674 | $6,911,970 |