Overview
What is Newton Medical Center Foundation?
Newton Medical Center Foundation is a charitable organization, serving as the philanthropic arm of Newton Medical Center in Morristown, New Jersey. Its primary mission is to support the hospital and the community it serves by transferring funds for various purposes. These funds are utilized in capital campaigns, backing hospital projects and specific donations aimed at benefiting various hospital sectors. The Foundation's activities are centered around addressing the philanthropic needs of Newton Medical Center and related entities, with a focus on advancing the present and future health and wellness of the community, as defined by the hospital.
Official website here: www.nmhnj.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Stars)
The Newton Medical Center Foundation has received a solid Three-Star rating from Charity Navigator, showcasing a strong focus on Accountability and Finance. With an overall score of 89%, the foundation demonstrates a commitment to transparency and responsible financial management, reflected in its high scores across various indicators. The organization boasts an independent board with a majority of members (92%) being independent, which supports its governance structure.
Strengths highlighted in the evaluation include a well-structured audit and oversight committee, full compliance with conflict of interest and whistleblower policies, and effective documentation practices. The financial health is further evidenced by a low liabilities-to-assets ratio of 0.65%, indicating sound financial stability. The program expense ratio, however, is somewhat lower at 64.56%, suggesting that there may be room for improvement in channeling more funds directly into programs.
While the foundation excels in accountability metrics, the program expense ratio may be a point of concern for some donors looking for more direct investment in programmatic activities. Overall, the organization appears to be well-managed and financially responsible, making it a credible option for potential supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Newton Medical Center Foundation legitimate?
Newton Medical Center Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newton Medical Center Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $331,830
For more financial information, click here
Official website here: www.nmhnj.org
What is the mission statement of Newton Medical Center Foundation?
The Newton Medical Center Foundation, acting as the philanthropic arm of Newton Medical Center, is committed to serving the philanthropic needs of the hospital and related entities. Their mission, in essence, is to contribute to the current and future health and wellness needs of the community, as defined by Newton Medical Center. This is achieved through transferring funds to the hospital, supporting various capital projects and specific purposes that benefit various hospital areas.
Official website here: www.nmhnj.org
Who is the CEO of Newton Medical Center Foundation?
Michael Walter is the Trustee-President, Western Region of Newton Medical Center Foundation.
Official website here: www.nmhnj.org
What is the revenue of Newton Medical Center Foundation?
Newton Medical Center Foundation's revenue in 2022 was $1,881,724.
Official website here: www.nmhnj.org
Who are the executives of Newton Medical Center Foundation and what are their salaries?
There 15 volunteers at Newton Medical Center Foundation.
Here are 29 key members and their salaries:
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- Related: $938,328
- Other: $144,093
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- Related: $268,184
- Other: $32,449
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- Related: $255,292
- Other: $37,186
- Compensation: $0
- Related: $4,617,182
- Other: $1,431,850
Official website here: www.nmhnj.org
Where can I find the form 990 for Newton Medical Center Foundation?
Newton Medical Center Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmhnj.org
Learn more at the official website: www.nmhnj.org
Mission Statement of Newton Medical Center Foundation
The Newton Medical Center Foundation, serving as the philanthropic arm of Newton Medical Center, is dedicated to addressing the present and future health and wellness needs of its community and beyond. This nonprofit organization's mission is to provide financial support to the hospital and the community it serves, through various capital campaigns and donations. These campaigns and donations are specifically aimed at funding capital projects within the hospital, ensuring the continued growth and development of the healthcare facilities and services available to the community.
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Impact
October, 2024
The Newton Medical Center Foundation plays a crucial role in enhancing healthcare services and facilities within the community it serves. By transferring funds to Newton Medical Center, the foundation directly supports capital projects and various essential areas of the hospital, ensuring that it can meet the evolving health and wellness needs of the population.
Through targeted donations and capital campaign payments, the foundation enables improvements in medical technology, infrastructure, and patient care initiatives. This investment in healthcare not only improves the quality of services provided but also strengthens the hospital's capacity to address both current and future health challenges. The foundation’s efforts ultimately lead to better health outcomes for individuals and families in Morristown, NJ, and surrounding areas, fostering a healthier community overall.
This information is meant to be a general summary of Newton Medical Center Foundation. 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: $725,614
- Gross Receipts: $3,886,524
Assets and Liabilities:
- Total Assets: $30,900,027
- Total Liabilities: $201,484
- Net Assets: $30,698,543
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Organization Details
Founding Year
1985
Phone
(973) 579-8513Principal Officer
Michael Walter
Main Address
475 South Street, Morristown, NJ, 07960
Website
www.nmhnj.orgNTEE Category
Code: E11 - Health
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