Overview
What is Friends Of Bassett Inc?
Friends of Bassett Inc. is a nonprofit organization situated in Cooperstown, New York, with the primary mission of enhancing the welfare of all members within the Bassett Healthcare Network. This network includes organizations such as Mary Imogene Bassett Hospital, Bassett Hospital of Schoharie County, O'Connor Hospital, Valley Health Services, Little Falls Hospital, AO Fox Hospital, Templeton Foundation, and Bassett Regional Corporation (BRC). In 2022, Friends of Bassett successfully solicited approximately $3.13 million in new revenue, contributing to various sectors within the network. The funds were allocated to six major categories: unresticted income for organization operations, patient assistance and rural farm assistance, equipment purchases, medical staff education and research, school-based health centers, and various other purposes as designated by donors.
Official website here: www.friendsofbassett.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% - Four-Star out of Four Star rating
Friends Of Bassett Inc has achieved a 97% score from Charity Navigator, reflecting a strong commitment to accountability and financial health. The organization has a perfect score in several categories, including having an independent board with 76% independent members and a robust financial oversight committee. Their financial practices, such as no material diversion of assets and a high program expense ratio of 99.95%, indicate that most funds are directed towards their mission.
The nonprofit also emphasizes transparency and ethical practices, as evidenced by their well-documented policies on conflict of interest, whistleblower protections, and document retention. With a low liabilities to assets ratio of 9.15%, Friends Of Bassett Inc shows financial stability, further bolstered by a working capital ratio that suggests they can sustain operations for over three years without relying on additional income.
While the organization demonstrates impressive fundraising efficiency with a minimal cost of fundraising, the overall score in this area suggests there might be room for improvement. Nonetheless, the overwhelmingly positive ratings in other categories highlight Friends Of Bassett Inc as a reputable and financially sound nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Bassett Inc legitimate?
Friends Of Bassett Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Bassett 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.friendsofbassett.org
What is the mission statement of Friends Of Bassett Inc?
The mission of Friends of Bassett Inc. is centered around promoting the well-being of all members within the Bassett Healthcare Network. This network includes several hospitals and organizations, such as Mary Imogene Bassett Hospital, Bassett Regional Corporation, and others. The primary objective of Friends of Bassett Inc. is to support and enhance the welfare of these network members, contributing to their overall growth and success.
Official website here: www.friendsofbassett.org
Who is the CEO of Friends Of Bassett Inc?
John Zogby is the Chairman of Friends Of Bassett Inc.
Official website here: www.friendsofbassett.org
What is the revenue of Friends Of Bassett Inc?
Friends Of Bassett Inc's revenue in 2022 was $3,188,334.
Official website here: www.friendsofbassett.org
Who are the executives of Friends Of Bassett Inc and what are their salaries?
There 19 volunteers at Friends Of Bassett Inc.
Here are 26 key members and their salaries:
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Official website here: www.friendsofbassett.org
Where can I find the form 990 for Friends Of Bassett Inc?
Friends Of Bassett Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.friendsofbassett.org
Learn more at the official website: www.friendsofbassett.org
Mission Statement of Friends Of Bassett Inc
Friends of Bassett Inc, as an organization, is committed to promoting the welfare of all members within the Bassett Healthcare Network. This network includes several healthcare institutions, such as Mary Imogene Bassett Hospital, Bassett Regional Corporation, Aurelia Osborn Fox Memorial Hospital Society, Templeton Foundation, Bassett Hospital of Schoharie County, O'Connor Hospital, Valley Health Services, and Little Falls Hospital. By supporting the well-being of these entities, Friends of Bassett Inc plays a crucial role in maintaining the overall health and healthcare service delivery within its network.
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Impact
October, 2024
Friends of Bassett Inc plays a vital role in enhancing the welfare of the Bassett Healthcare Network, which includes various hospitals and healthcare facilities. Their impact is significant, having generated approximately $3.13 million in new revenue for these organizations. This funding supports a range of essential services and initiatives.
A substantial portion of the contributions—around $1,095,000—goes towards unrestricted income, enabling healthcare facilities to maintain smooth operations. Additionally, the organization prioritizes patient assistance and rural farm assistance, with approximately $202,000 allocated to these crucial areas.
The impact extends to the purchase of medical equipment, with about $485,000 designated for acquiring necessary tools and technology. Friends of Bassett Inc is also committed to advancing medical education and research, contributing approximately $825,000 to support the ongoing development of medical staff.
They further emphasize children's health by dedicating around $254,000 to support school-based health centers. Additionally, Friends of Bassett responds to specific donor requests, with approximately $253,000 allocated for a variety of other designated purposes.
In summary, Friends of Bassett Inc's comprehensive support significantly enhances healthcare services in the region, promoting well-being, education, and vital assistance for both patients and healthcare professionals.
This information is meant to be a general summary of Friends Of Bassett 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: $51,546
- Gross Receipts: $3,254,451
Assets and Liabilities:
- Total Assets: $13,296,595
- Total Liabilities: $1,217,889
- Net Assets: $12,078,706
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Organization Details
Founding Year
1968
Phone
(607) 547-3928Principal Officer
John Zogby
Main Address
ONE ATWELL ROAD, COOPERSTOWN, NY, 13326
Website
www.friendsofbassett.orgNTEE Category
Code: T22J - Philanthropy
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