Overview
What is The Southampton Hospital Foundation Inc?
The Southampton Hospital Foundation Inc is a dedicated nonprofit organization based in Southampton, New York. Its primary objective is to amplify awareness, foster goodwill, and maximize private philanthropy to enhance and fortify the mission and vision of Stony Brook Southampton Hospital. In 2022, the foundation successfully raised $11.5 million in cash and pledges, primarily from private foundations, businesses, and individuals, to support various hospital initiatives. These funds were utilized for general operating needs, clinical programs, medical technology, equipment, and uncompensated care for vulnerable populations. The foundation engages in various fundraising activities, including special events, grants, and major gift solicitations. They collaborate with local organizations to raise funds and support key clinical initiatives such as the Paulson Family Emergency Department, the Ellen Hermanson Breast Center, and the Kathleen D. Allen Maternity Center. In 2022, they also raised funds for the construction of a new East Hampton Emergency Department, amounting to $8.5 million. The foundation also partners with other organizations to fund breast cancer-related needs, tick-borne disease resources, and support services. In 2023, they aim to raise further funds for the East Hampton Emergency Department and proceed with a major capital campaign to build a new Stony Brook Southampton Hospital.
Official website here: www.southampton.stonybrookmedicine.edu
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
The Southampton Hospital Foundation Inc has achieved a notable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a perfect score in several indicators such as independent board membership and financial oversight, the organization demonstrates a high level of transparency and good governance. The foundation has successfully managed its resources, as evidenced by a low liabilities to assets ratio and effective fundraising efficiency.
The foundation allocates a significant portion of its budget to program services, with a program expense ratio of over 68%. This indicates a commitment to using funds effectively to support its mission. The organization also adheres to best practices in governance, with policies in place for conflicts of interest and whistleblower protections, ensuring ethical management and operational integrity.
While the overall financial health of the organization is impressive, it is important to note that the program expense ratio, while substantial, could be improved further to enhance the impact of its services. Overall, the Southampton Hospital Foundation Inc is a well-managed charity with strong financial practices, making it a trustworthy choice for donors looking to support healthcare initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is The Southampton Hospital Foundation Inc legitimate?
The Southampton Hospital Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Southampton Hospital Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $218,232
Professional Fundraising Fees: $572,177
Other Salaries and Wages: $273,825
For more financial information, click here
Official website here: www.southampton.stonybrookmedicine.edu
What is the mission statement of The Southampton Hospital Foundation Inc?
The Southampton Hospital Foundation Inc's mission is to boost awareness and foster goodwill, while maximizing private philanthropy, to enhance and strengthen the mission and vision of an unspecified hospital. Specifically, the foundation supports the hospital's objective of providing healthcare services and expanding clinical programs to cater to the needs of its local communities on the East End. Recently, the foundation has shifted its focus to intensify fundraising efforts and increase public awareness of the hospital's programs and services. The primary goal is to secure critical philanthropic support, ensuring high-quality healthcare for all neighbors on the East End. In 2023, the foundation aims to raise additional funds towards the new goal for the East Hampton Emergency Department, which has been impacted by post-COVID supply cost increases, and contribute to the Capital Campaign for building a new hospital.
Official website here: www.southampton.stonybrookmedicine.edu
Who is the CEO of The Southampton Hospital Foundation Inc?
Dr Fredric Weinbaum is the Principal Officer of The Southampton Hospital Foundation Inc. The CEO's salary of The Southampton Hospital Foundation Inc is $0 and their total compensation is $0.
Official website here: www.southampton.stonybrookmedicine.edu
What is the revenue of The Southampton Hospital Foundation Inc?
The Southampton Hospital Foundation Inc's revenue in 2022 was $11,550,242.
Official website here: www.southampton.stonybrookmedicine.edu
Who are the executives of The Southampton Hospital Foundation Inc and what are their salaries?
There 10 volunteers at The Southampton Hospital Foundation Inc.
Here are 13 key members and their salaries (The Southampton Hospital Foundation Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $207,861
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- Other: $10,371
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Official website here: www.southampton.stonybrookmedicine.edu
Where can I find the form 990 for The Southampton Hospital Foundation Inc?
The Southampton Hospital Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.southampton.stonybrookmedicine.edu
Learn more at the official website: www.southampton.stonybrookmedicine.edu
Mission Statement of The Southampton Hospital Foundation Inc
The Southampton Hospital Foundation, a distinguished nonprofit organization, is dedicated to amplifying awareness, fostering goodwill, and maximizing private philanthropy to enhance and strengthen the mission and vision of its affiliated hospital. This foundation, independent from the hospital itself, serves to bolster Stony Brook Southampton Hospital's commitment to delivering top-notch healthcare services and expanding clinical programs to cater to the needs of its East End communities.
With a renewed focus on fundraising and public awareness, The Southampton Hospital Foundation concentrates its efforts on securing critical philanthropic support. This is a strategic move to ensure that East End neighbors continue to receive high-quality healthcare services. In the forthcoming year of 2023, the foundation aims to raise additional funds towards the ambitious goal of $50M for the East Hampton Emergency Department. This target has been set due to post-COVID supply cost increases. Furthermore, The Southampton Hospital Foundation is actively involved in a Capital Campaign aimed at building a new Stony Brook Southampton Hospital. The foundation's mission is a testament to its commitment to ensuring access to excellent healthcare services for all in its communities.
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Impact
July, 2024
The Southampton Hospital Foundation Inc significantly impacts the community by raising funds to advance and strengthen the mission and vision of Stony Brook Southampton Hospital. In 2022, the Foundation raised over $11.5 million in cash and pledges from various sources to support the hospital's general operations, clinical programs, medical technology, equipment, and uncompensated care for vulnerable populations. The Foundation utilizes a variety of fundraising activities, including special events, grants, direct mail, capital campaigns, and major gift solicitations, to collaborate with local and regional organizations towards achieving its goals.
Moreover, the Foundation focused on key clinical initiatives in 2022, such as The Paulson Family Emergency Department, the Audrey and Martin Gruss Heart & Stroke Center, and several other healthcare facilities within the hospital. Additionally, the Foundation successfully raised funds for the construction of a new free-standing East Hampton Emergency Department, showing its commitment to meeting the evolving healthcare needs of the community. Through partnerships with organizations like the Ellen P. Hermanson Foundation and Ellen's Well, the Foundation also supported initiatives related to women's health, tick-borne diseases, Parkinson's disease, and palliative care.
Furthermore, the Foundation's efforts extended to organizing events like the Annual Summer Party, which raised funds for the hospital's emergency department while adapting to the challenges posed by the COVID-19 pandemic. Looking ahead, the Foundation continues to focus on fundraising for critical healthcare programs and services, with plans to raise additional funds for the East Hampton Emergency Department and launch a major capital campaign for a new state-of-the-art community hospital. The Southampton Hospital Foundation Inc.'s dedication to advancing healthcare services for the East End communities makes a significant impact on improving access to high-quality healthcare for all residents.
This information is meant to be a general summary of The Southampton Hospital Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $269,697
- Gross Receipts: $11,788,215
Assets and Liabilities:
- Total Assets: $28,336,419
- Total Liabilities: $6,821,089
- Net Assets: $21,515,330
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Organization Details
Founding Year
1996
Phone
(631) 726-8301Principal Officer
Dr Fredric Weinbaum
Main Address
240 MEETING HOUSE LANE, SOUTHAMPTON, NY, 11968
NTEE Category
Code: E11 - Health
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