Overview
What is Rome Memorial Hospital Foundation Inc?
Rome Memorial Hospital Foundation Inc is a nonprofit organization situated in Rome, New York, specifically at 107 EAST CHESTNUT STREET SUITE 100. Its primary objective is to enhance patient care at Rome Memorial Hospital by receiving and administering donations and bequests. As a separate entity, the foundation functions as an integral partner in the hospital's mission to deliver quality healthcare with compassion. The foundation accepts contributions, both unrestricted and designated for specific units or programs, and utilizes them to fund current and future equipment and program needs. With a team of two dedicated individuals, Rome Health Foundation plays a vital role in supporting Rome Health's mission to provide compassionate healthcare.
Official website here: www.romehealth.org/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating 47%
Rome Memorial Hospital Foundation Inc has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its financial accountability and efficiency. While the organization scores well in areas such as board independence and governance policies, its overall financial health is lacking, as evidenced by low scores in critical areas like program expense ratio and fundraising efficiency.
The foundation's program expense ratio of 46.61% and a fundraising efficiency ratio of $0.08 raise red flags about the effective use of funds and resource allocation. Additionally, the liabilities to assets ratio of 0.78% suggests a precarious financial position, which could impact its ability to fulfill its mission effectively.
Despite these drawbacks, the foundation demonstrates strong governance practices, with all board members being independent and a comprehensive set of financial oversight policies in place. However, the low financial performance scores reflect a pressing need for improvement in its operational efficiency and fundraising strategies to enhance its impact in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Rome Memorial Hospital Foundation Inc legitimate?
Rome Memorial Hospital Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rome Memorial 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: $90,250
Professional Fundraising Fees: $393,033
Other Salaries and Wages: $47,846
For more financial information, click here
Official website here: www.romehealth.org/foundation
What is the mission statement of Rome Memorial Hospital Foundation Inc?
The Rome Memorial Hospital Foundation Inc serves as a platform for receiving and administering donations and bequests, specifically for Rome Memorial Hospital Inc. Its mission is to provide philanthropic support to Rome Health, an integral partner in the healthcare system's mission to deliver high-quality care with compassion. The foundation accepts gifts on behalf of Rome Health and works towards funding current and future equipment and program needs. Contributions, regardless of size, are gratefully accepted and may be designated for a specific hospital unit or program. Contributions to the foundation are tax-deductible according to IRS guidelines.
Official website here: www.romehealth.org/foundation
Who is the CEO of Rome Memorial Hospital Foundation Inc?
Nicholas Mayhew is the Board President of Rome Memorial Hospital Foundation Inc.
Official website here: www.romehealth.org/foundation
What is the revenue of Rome Memorial Hospital Foundation Inc?
Rome Memorial Hospital Foundation Inc's revenue in 2022 was $4,589,994.
Official website here: www.romehealth.org/foundation
Who are the executives of Rome Memorial Hospital Foundation Inc and what are their salaries?
The average compensation at Rome Memorial Hospital Foundation Inc during 2022 was $69,048. There are 2 employees and 60 volunteers at Rome Memorial Hospital Foundation Inc.
Here are 12 key members and their salaries:
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Official website here: www.romehealth.org/foundation
Where can I find the form 990 for Rome Memorial Hospital Foundation Inc?
Rome Memorial Hospital Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.romehealth.org/foundation
Learn more at the official website: www.romehealth.org/foundation
Mission Statement of Rome Memorial Hospital Foundation Inc
Rome Memorial Hospital Foundation Inc serves as a conduit for receiving and managing charitable contributions aimed at supporting Rome Health Inc. This nonprofit organization is an integral partner in Rome Health's mission to provide compassionate healthcare of high quality. Rome Memorial Hospital Foundation Inc accepts gifts on behalf of Rome Health, utilizing them to fulfill both current and future equipment and program needs. Contributions, regardless of their size, are gratefully received by the foundation, and they can be either unrestricted gifts or designated for a specific hospital unit or program. Donations to Rome Memorial Hospital Foundation Inc are tax-deductible according to IRS guidelines, emphasizing the importance of philanthropic support in furthering the mission of Rome Health.
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Impact
October, 2024
Rome Memorial Hospital Foundation Inc significantly enhances patient care and health services in the community by providing essential philanthropic support to Rome Memorial Hospital. The foundation plays a crucial role in administering gifts and bequests, ensuring that these resources are effectively funneled towards improving healthcare quality.
By accepting both unrestricted gifts and designated contributions for specific hospital units or programs, the foundation addresses immediate and long-term needs within the healthcare system. This flexibility allows it to respond proactively to the evolving challenges and requirements of patient care. Contributions are utilized for purchasing state-of-the-art medical equipment and funding vital programs that improve the overall healthcare experience for patients, thereby fostering a compassionate and supportive environment in Rome, NY.
The foundation's commitment not only enhances healthcare delivery but also strengthens the community's trust in the local health system, ensuring that quality care remains accessible for all. Through its fundraising efforts, Rome Memorial Hospital Foundation Inc continues to be a vital partner in promoting health and wellness, making a tangible impact on the lives of individuals and families in the region.
This information is meant to be a general summary of Rome Memorial 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: $23,060
- Gross Receipts: $4,738,655
Assets and Liabilities:
- Total Assets: $7,958,444
- Total Liabilities: $62,794
- Net Assets: $7,895,650
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Organization Details
Founding Year
1991
Phone
(315) 338-7181Principal Officer
Nicholas Mayhew
Main Address
107 EAST CHESTNUT STREET SUITE 100, ROME, NY, 13440
NTEE Category
Code: T31 - Philanthropy
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