Danbury Hospital & New Milford Hospital Foundation Inc
- Assets
- $165.5m
- Revenue
- $14.0m
- Investments
- $1.7m
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 05/1975
- Data as of
- 09/2023
- EIN
- 23-7425557
Organization Overview
Danbury Hospital & New Milford Hospital Foundation Inc is located in Danbury, CT. The organization was established in 1975. 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. Danbury Hospital & New Milford 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 09/2023, Danbury Hospital & New Milford Hospital Foundation Inc generated $14.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (17.8%) each year. All expenses for the organization totaled $15.3m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Danbury Hospital & New Milford Hospital Foundation Inc has awarded 26 individual grants totaling $31,822,814. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS, REINVEST AND ADMINISTER THESE FUNDS AND MAKE DISTRIBUTIONS TO DANBURY AND NEW MILFORD HOSPITALS AND OTHER NOT-FOR-PROFIT HEALTH CARE AFFILIATES.
Describe the Organization's Program Activity:
DANBURY HOSPITAL AND NEW MILFORD HOSPITAL FOUNDATION, INC. IS A NOT-FOR-PROFIT CORPORATION LOCATED IN DANBURY, CONNECTICUT. IT WAS ORGANIZED AS A NON-STOCK CORPORATION UNDER THE LAWS OF CONNECTICUT FOR THE PURPOSE OF SOLICITING, RECEIVING, HOLDING, INVESTING AND ADMINISTERING CONTRIBUTIONS ON BEHALF OF THE DANBURY HOSPITAL, NEW MILFORD HOSPITAL AND OTHER NOT-FOR-PROFIT HEALTHCARE AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Director (to 12/31) | Trustee | 0.5 | $0 |
Name Not Listed Director (from 01/01) | Trustee | 0.5 | $0 |
Name Not Listed Director | Trustee | 0.5 | $0 |
Name Not Listed Director (from 01/01) | Trustee | 0.5 | $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 | $8,023,743 |
| Noncash contributions included in lines 1a–1f | $309,979 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,023,743 |
| Total Program Service Revenue | $5,215,286 |
| Investment income | $597,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $260,743 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$50,048 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,046,841 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,996,849 |
| 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 | $4,606,299 |
| Pension plan accruals and contributions | $253,824 |
| Other employee benefits | $369,291 |
| Payroll taxes | $310,385 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,096 |
| Fees for services: Accounting | $12,466 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $72,539 |
| Fees for services: Other | $256,005 |
| Advertising and promotion | $119,865 |
| Office expenses | $539,165 |
| Information technology | $75,082 |
| Royalties | $0 |
| Occupancy | $189,835 |
| Travel | $18,911 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,174 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,003 |
| Insurance | $6,514 |
| All other expenses | $0 |
| Total functional expenses | $15,338,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,622,670 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,093,481 |
| 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 | $0 |
| Net Land, buildings, and equipment | $932,265 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,651,869 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $148,213,255 |
| Total assets | $165,513,540 |
| Accounts payable and accrued expenses | $199,354 |
| 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 | $3,669,951 |
| Total liabilities | $3,869,305 |
| Net assets without donor restrictions | $52,827,557 |
| Net assets with donor restrictions | $108,816,678 |
| 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 | $165,513,540 |
Grants Awarded
Over the last fiscal year, Danbury Hospital & New Milford Hospital Foundation Inc has awarded $7,992,628 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
DANBURY HOSPITAL PURPOSE: OPERATIONAL SUPPORT | $5,572,789 |
NUVANCE HEALTH MEDICAL PRACTICE CT INC PURPOSE: OPERATIONAL SUPPORT | $918,522 |
NUVANCE HEALTH PURPOSE: OPERATIONAL SUPPORT | $727,140 |
HEALTH QUEST SYSTEMS INC PURPOSE: OPERATIONAL SUPPORT | $238,829 |
NORWALK HOSPITAL ASSOCIATION PURPOSE: OPERATIONAL SUPPORT | $149,500 |
WESTERN CONNECTICUT HEALTH NETWORK INC PURPOSE: OPERATIONAL SUPPORT | $140,219 |