Danbury Hospital & New Milford Hospital Foundation Inc
- Assets
- $175.9m
- Revenue
- $24.3m
- Investments
- $141.5m
- Employees
- 0
- Location
- Danbury, CT
- Founding
- 05/1975
- Data as of
- 09/2021
- 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 09/2021, Danbury Hospital & New Milford Hospital Foundation Inc generated $24.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $13.3m during the year ending 09/2021. 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 11 individual grants totaling $12,313,962. 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
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 |
|---|---|---|---|
Leonard Dinardo Vice Chairman | OfficerTrustee | 1 | $0 |
Lisa A Esneault Chairman | OfficerTrustee | 1 | $0 |
Carolyn Mckenna Secretary/chief Legal Officer | Officer | 1 | $0 |
Grace Linhard Chief Development Officer | Officer | 1 | $0 |
Steven H Rosenberg Treasurer/cfo | Officer | 1 | $0 |
James Naughton Director | 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 | $9,535,218 |
| Noncash contributions included in lines 1a–1f | $148,423 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,535,218 |
| Total Program Service Revenue | $5,997,824 |
| Investment income | $8,791,748 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,097 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$905 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,324,982 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,314,339 |
| 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 | $4,564,965 |
| Pension plan accruals and contributions | $146,019 |
| Other employee benefits | $494,256 |
| Payroll taxes | $198,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,480 |
| Fees for services: Accounting | $5,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $150,019 |
| Fees for services: Other | $226,935 |
| Advertising and promotion | $78,779 |
| Office expenses | $342,003 |
| Information technology | $209,012 |
| Royalties | $0 |
| Occupancy | $205,367 |
| Travel | $10,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,857 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,451 |
| Insurance | $10,171 |
| All other expenses | $49,219 |
| Total functional expenses | $13,310,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,643,512 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $11,516,351 |
| 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 | $128,332 |
| Net Land, buildings, and equipment | $2,142,104 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $141,466,850 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,957,167 |
| Total assets | $175,854,316 |
| Accounts payable and accrued expenses | $411,396 |
| 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 | $3,298,491 |
| Total liabilities | $3,709,887 |
| Net assets without donor restrictions | $54,646,807 |
| Net assets with donor restrictions | $117,497,622 |
| 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 | $175,854,316 |
Grants Awarded
Over the last fiscal year, Danbury Hospital & New Milford Hospital Foundation Inc has awarded $6,309,566 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $5,255,135 |
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $376,001 |
Bethel, CT PURPOSE: OPERATIONAL SUPPORT | $241,953 |
Danbury, CT PURPOSE: OPERATIONAL SUPPORT | $241,909 |
Norwalk, CT PURPOSE: OPERATIONAL SUPPORT | $150,130 |
Poughkeepsie, NY PURPOSE: OPERATIONAL SUPPORT | $26,411 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Danbury Hospital & New Milford Hospital Foundation Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Patrick Foundation Tr Wilmington, DE PURPOSE: THE DIGITAL HEALTH INITIATIVE | $40,000 |
Endowment Analysis
| Beg. Balance | $55,380,661 |
| Earnings | $9,574,208 |
| Net Contributions | $961,057 |
| Other Expense | -$2,792,070 |
| Ending Balance | $63,123,856 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Hospital Radiology Foundation Inc Boston, MA | $61,711,142 | $41,980,369 |
Marcus Avenue Medical Pc Westbury, NY | $15,403,274 | $17,010,236 |
Health & Welfare Fund Of Intern Tional Union Of Operating Engi Quincy, MA | $26,422,414 | $20,857,874 |
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 |