Lankenau Medical Center Foundation
- Assets
- $483.4m
- Revenue
- $35.7m
- Investments
- $547.1k
- Employees
- 0
- Location
- Wynnewood, PA
- Founding
- 11/1981
- Data as of
- 06/2021
- EIN
- 23-2176723
Organization Overview
Lankenau Medical Center Foundation is located in Wynnewood, PA. The organization was established in 1981. 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. Lankenau Medical Center 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 06/2021, Lankenau Medical Center Foundation generated $35.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $14.2m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lankenau Medical Center Foundation has awarded 18 individual grants totaling $139,515,260. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES FUNDRAISING AND DEVELOPMENT ACTIVITIES TO SUPPORT LANKENAU MEDICAL CENTER & LANKENAU INSTITUTE FOR MEDICAL RESEARCH.
Describe the Organization's Program Activity:
EXPENSES CONSIST OF FUNDS SPENT IN ACCORDANCE WITH DONOR INTENT; E.G. MEDICAL EDUCATION, MEDICAL RESEARCH, INDIGENT CARE, CAPITAL PURCHASES, AND SUPPORT FOR OTHER HOSPITAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip D Robinson Fache President & Ex-Officio Trustee | OfficerTrustee | 1 | $0 |
Alfred W Putnam Jr Chairman & Trustee | OfficerTrustee | 1 | $0 |
Michael J Buongiorno Treasurer | Officer | 1 | $0 |
Anne Lauer Secretary | Officer | 1 | $0 |
Carol Cutler Trustee | Trustee | 1 | $0 |
Arlin Green Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,982 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,735,223 |
| Noncash contributions included in lines 1a–1f | $208,603 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,760,205 |
| Total Program Service Revenue | $0 |
| Investment income | $28,694,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $239,469 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,694,086 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,960,136 |
| 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 | $178,000 |
| 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 | $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 | $0 |
| Insurance | $0 |
| All other expenses | $1,044,790 |
| Total functional expenses | $14,182,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,178,322 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,720,828 |
| Accounts receivable, net | $79,081 |
| 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 | $0 |
| Net Land, buildings, and equipment | $950,000 |
| Investments—publicly traded securities | $460,502,952 |
| Investments—other securities | $547,066 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,376,849 |
| Total assets | $483,355,098 |
| Accounts payable and accrued expenses | $49,702 |
| 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 | $564,691 |
| Total liabilities | $614,393 |
| Net assets without donor restrictions | $272,353,010 |
| Net assets with donor restrictions | $210,387,695 |
| 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 | $483,355,098 |
Grants Awarded
Over the last fiscal year, Lankenau Medical Center Foundation has awarded $12,960,136 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Newtown Square, PA | | $10,049,676 |
Wynnewood, PA | | $2,910,460 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lankenau Medical Center Foundation has recieved totaling $61,315.
| Awarding Organization | Amount |
|---|---|
Barbara Brodsky Foundation Haverford, PA PURPOSE: TO FURTHER PUBLIC SERVICE | $58,315 |
Broughton Foundation Drexel Hill, PA PURPOSE: UNRESTRICTED | $3,000 |
Endowment Analysis
| Beg. Balance | $85,217,076 |
| Earnings | $2,578,069 |
| Net Contributions | $3,183,071 |
| Ending Balance | $90,978,216 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ufcw Local 1776 & Participating Employers Health & Welfare Fund Plymouth Meeting, PA | $60,321,476 | $63,078,058 |
Associates Health Trust Solon, OH | $8,159,190 | $46,591,493 |
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 |
Marcus Avenue Medical Pc Westbury, NY | $15,403,274 | $17,010,236 |
Indiana Jefferson Radiation Oncology Inc Indiana, PA | $76,804 | $26,313,559 |
Calvert Health System Inc Prince Frederick, MD | $134,464,089 | $23,125,484 |
Transport Workers Union Roseland, NJ | $16,248,570 | $20,384,690 |
Geisinger Health Danville, PA | $3,255,726,286 | $301,727,565 |