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Nonprofiteer
← JUPITER MEDICAL CENTER FOUNDATION INC

Form 990 for tax year 2023

Filed by JUPITER MEDICAL CENTER FOUNDATION INC.

Totals

Total revenue
$61,592,793
Total expenses
$41,428,221
Contributions and grants received
$56,929,743
Grants paid
$36,160,727
Program service revenue
$0
Investment income
$5,022,024
Other revenue
-$358,974
Total assets, end of year
$182,438,914
Total liabilities, end of year
$1,149,094
Net assets or fund balances, end of year
$181,289,820
Program services expenses (Part IX)
$36,160,727
Management and general expenses
$0
Fundraising expenses
$5,267,494
Program service expenses (Part III)
$36,160,727

Program services were 87.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $1,278,336

  • 1f · All other contributions, gifts and grants

    $55,651,407

  • 1g · Noncash contributions included above

    $9,485,808

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,521,912 · excluded $3,521,912

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $32,903,229

  • 7b · Less cost or other basis and sales expenses

    securities $31,403,117

  • 7c · Gain or loss

    securities $1,500,112 · other assets $0

  • 7d · Net gain or loss

    total $1,500,112 · excluded $1,500,112

  • 8a · Fundraising events: gross income

    $430,254

  • 8a · Fundraising events: contributions included on line 1c

    $1,278,336

  • 8b · Fundraising events: direct expenses

    $789,228

  • 8c · Net income from fundraising events

    total -$358,974 · excluded -$358,974

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,160,727 · program services $36,160,727

  • 5 · Compensation of officers, directors and key employees

    total $380,419 · fundraising $380,419

  • 6 · Compensation of disqualified persons

    total $175,118 · fundraising $175,118

  • 7 · Other salaries and wages

    total $2,269,806 · fundraising $2,269,806

  • 8 · Pension plan contributions

    total $54,820 · fundraising $54,820

  • 9 · Other employee benefits

    total $177,263 · fundraising $177,263

  • 10 · Payroll taxes

    total $205,320 · fundraising $205,320

  • 11f · Fees: investment management

    total $207,764 · fundraising $207,764

  • 11g · Fees: other

    total $879,999 · program services $0 · management and general $0 · fundraising $879,999

  • 12 · Advertising and promotion

    total $172,785 · fundraising $172,785

  • 13 · Office expenses

    total $273,823 · fundraising $273,823

  • 14 · Information technology

    total $60,080 · fundraising $60,080

  • 16 · Occupancy

    total $102,643 · fundraising $102,643

  • 17 · Travel

    total $25,380 · fundraising $25,380

  • 22 · Depreciation, depletion and amortization

    total $33,097 · fundraising $33,097

  • 24a · Other expenses: Community activities

    total $101,695 · fundraising $101,695

  • 24b · Other expenses: Donor recognition

    total $72,799 · fundraising $72,799

  • 24c · Other expenses: Memberships & Licenses

    total $23,176 · fundraising $23,176

  • 24d · Other expenses: Professional development

    total $13,090 · fundraising $13,090

  • 24e · All other expenses

    total $38,417 · program services $0 · management and general $0 · fundraising $38,417

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $34,267,699 · end of year $40,280,087

  • 3 · Pledges and grants receivable

    beginning of year $48,151,216 · end of year $58,571,739

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,032,291 · end of year $345,747

  • 10a · Land, buildings and equipment: cost or other basis

    $306,717

  • 10b · Land, buildings and equipment: accumulated depreciation

    $128,250

  • 10c · Land, buildings and equipment, net

    beginning of year $206,551 · end of year $178,467

  • 11 · Investments: publicly traded securities

    beginning of year $60,969,969 · end of year $76,430,689

  • 12 · Investments: other securities

    beginning of year $4,885,121 · end of year $6,632,185

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $231,068 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $131,954 · end of year $17,375

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $185,330 · end of year $1,131,719

  • 27 · Net assets without donor restrictions

    beginning of year $66,811,298 · end of year $83,494,911

  • 28 · Net assets with donor restrictions

    beginning of year $82,615,333 · end of year $97,794,909

Mission and programs · 2023

Mission

The mission of the Jupiter Medical Center Foundation, Inc. is to secure the financial resources required to sustain clinical excellence and quality of care at Jupiter Medical Center, Inc. & its affiliates.

Activities or mission (Part I)

To secure the financial resources required to sustain clinical excellence and quality of care at Jupiter Medical Center, Inc. & its affiliates.

  • THE JUPITER MEDICAL CENTER FOUNDATION, INC. SUPPORTS AND PROMOTES HEALTH CARE BY PROVIDING FINANCIAL AND VOLUNTEER PATIENT ASSISTANCE TO RELATED ORGANIZATIONS INCLUDING JUPITER MEDICAL CENTER, INC.

    Expenses $36,160,727 · Grants $36,160,727

As filed on the 2023 return.

Listed in Part VII

  • DONALD McCREE JR

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Joseph M Petri

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Peter A Lund

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5 + 2 related

  • Salvatore Tiano

    Treasurer

    Total calculated
    $0
    Hours/week
    5

  • Burton M Tansky

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dennis K Williams

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Douglas S Brown

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Edward L Babington

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Fred H Lissauer

    Trustee (thru Oct 2023)

    Total calculated
    $0
    Hours/week
    1

  • George H Damman

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James E Perrella

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jane F Napier

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Joan jorgenson

    Trustee (thru Aug 2024)

    Total calculated
    $0
    Hours/week
    1

  • Katharine F Plum

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Leonard Abramson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • M Jude Reyes

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Martin Dytrych CPA

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Neil S Devlin

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • William C Mattison Jr

    Trustee (thru June 2024)

    Total calculated
    $0
    Hours/week
    1

  • Michael Loftus

    SVP & CFO (beginning April 2023)

    Total calculated
    $530,930
    From this org
    $0
    From related orgs
    $524,195
    Other
    $6,735
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $361,019 related
    Bonus
    $0 + $129,125 related
    Other
    $0 + $34,051 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $6,735 related
    Filer's total
    $0 + $530,930 related

  • Traci Simonsen

    Chief Philanthropy Officer

    Total calculated
    $380,419
    From this org
    $361,403
    From related orgs
    $0
    Other
    $19,016
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,001
    Bonus
    $74,336
    Other
    $10,066
    Deferred
    $6,600
    Nontaxable benefits
    $12,416
    Filer's total
    $380,419

  • Jamie Taylor

    Exec Dir Concierge Services & Donor Relations

    Total calculated
    $191,065
    From this org
    $176,327
    From related orgs
    $0
    Other
    $14,738
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,226
    Bonus
    $27,849
    Other
    $252
    Deferred
    $6,320
    Nontaxable benefits
    $8,418
    Filer's total
    $191,065

  • Jennifer D Amarnick

    Senior Director of Development & Planned Giving

    Total calculated
    $213,597
    From this org
    $201,760
    From related orgs
    $0
    Other
    $11,837
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,078
    Bonus
    $33,351
    Other
    $331
    Deferred
    $6,067
    Nontaxable benefits
    $5,770
    Filer's total
    $213,597

  • Regan Cunningham-Tarpey

    Exec Dir Foundation Comm

    Total calculated
    $216,819
    From this org
    $202,725
    From related orgs
    $0
    Other
    $14,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,784
    Bonus
    $31,566
    Other
    $375
    Deferred
    $3,623
    Nontaxable benefits
    $10,471
    Filer's total
    $216,819

  • Steven eschelman

    Director of Philanthropy

    Total calculated
    $160,756
    From this org
    $155,976
    From related orgs
    $0
    Other
    $4,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,480
    Bonus
    $22,200
    Other
    $296
    Deferred
    $1,899
    Nontaxable benefits
    $2,881
    Filer's total
    $160,756

  • Thomas J Bliss

    Senior Director Principal Gift

    Total calculated
    $196,476
    From this org
    $189,952
    From related orgs
    $0
    Other
    $6,524
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,092
    Bonus
    $26,683
    Other
    $177
    Deferred
    $6,524
    Nontaxable benefits
    $0
    Filer's total
    $196,476

  • Amit Rastogi MD MHCM

    Current JMC President / Former Interim JMCF President

    Total calculated
    $1,777,589
    From this org
    $0
    From related orgs
    $1,517,296
    Other
    $260,293
    Hours/week
    0 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $912,980 related
    Bonus
    $0 + $560,500 related
    Other
    $0 + $43,816 related
    Deferred
    $0 + $251,224 related
    Nontaxable benefits
    $0 + $9,069 related
    Filer's total
    $0 + $1,777,589 related

  • Dale Hocking CPA

    Former CFO

    Total calculated
    $497,198
    From this org
    $0
    From related orgs
    $465,382
    Other
    $31,816
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $348,982 related
    Bonus
    $0 + $105,414 related
    Other
    $0 + $10,986 related
    Deferred
    $0 + $28,185 related
    Nontaxable benefits
    $0 + $3,631 related
    Filer's total
    $0 + $497,198 related

  • Michael J Morsberger

    Former Chief Philanthropy Officer & JMC Foundation President

    Total calculated
    $175,118
    From this org
    $174,248
    From related orgs
    $0
    Other
    $870
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $174,248
    Deferred
    $870
    Nontaxable benefits
    $0
    Filer's total
    $175,118

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE COMPENSATION COMMITTEE OF THE BOARD OF JUPITER MEDICAL CENTER, INC. DETERMINES THE COMPENSATION OF THE JUPITER MEDICAL CENTER FOUNDATION CHIEF PHILANTHROPY OFFICER. THE COMMITTEE USES AN INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEYS, FORM 990 OF OTHER ORGANIZATIONS, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE TO ESTABLISH COMPENSATION.
Schedule J, Part I, Line 4a Severance or change-of-control payment
During calendar year 2023, the individuals listed below received severance payments from the filing organization for the following amounts. These amounts were treated as taxable compensation and are included in Form 990, Schedule J, Part II, Column B(iii). Michael Morsberger - $174,248
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
The individuals listed below participated in a retention bonus plan during 2023. During calendar year 2023, accruals related to retention bonuses were made for the following individuals. These amounts are included on Schedule J, Part II, Col (C): Amit Rastogi - $140,000 None of the individuals reported on the filing organization's Form 990, Part VII, Section A received a retention bonus payout during calendar year 2023. The following individuals participated in a 457(f) plan during 2023. Accruals into the plan during calendar year 2023 were as follows. These amounts are included on Schedule J, Part II, Col (C): Amit Rastogi - $95,000 Dale Hocking - $14,090 None of the individuals reported on the filing organization's Form 990, Part VII, Section A received a distribution from the 457(f) plan during calendar year 2023.
Schedule J, Part I, Line 7 Non-fixed payments
THE ORGANIZATION OFFERS BONUSES BASED ON THE ACHIEVEMENT OF INDIVIDUAL AND ORGANIZATIONAL GOALS; THIS BONUS IS BASED ON A PERCENTAGE OF BASE SALARY OF THE EMPLOYEE. IN ADDITION, SOME INTERESTED PERSONS RECEIVED AN ADDITIONAL PERFORMANCE BONUS THAT IS NOT BASED ON A FIXED FORMULA.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TTB PARTNERS LTD

    N/A · LAND RENTAL · FL

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • JMC SPECIALTY GROUP INC

    C Corporation · PHYSICIAN GROUP · FL

    Directly controlled by NA

  • JUPITER HEALTH VENTURES INC

    C Corporation · JV HOLDING COMPANY · FL

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202542269349301659

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