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Nonprofiteer
← FOUNDATION FOR MORRISTOWN MEDICAL CENTER INC

Form 990 for tax year 2023

Filed by FOUNDATION FOR MORRISTOWN MEDICAL CENTER INC.

Totals

Total revenue
$28,600,440
Total expenses
$21,294,598
Contributions and grants received
$24,023,782
Grants paid
$8,094,472
Program service revenue
$0
Investment income
$4,610,967
Other revenue
-$34,309
Total assets, end of year
$200,857,010
Total liabilities, end of year
$4,746,690
Net assets or fund balances, end of year
$196,110,320
Program services expenses (Part IX)
$15,843,692
Management and general expenses
$2,368,783
Fundraising expenses
$3,082,123
Program service expenses (Part III)
$15,843,692

Program services were 74.4% 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.

  • 1b · Membership dues

    $10,000

  • 1c · Fundraising events

    $295,650

  • 1d · Related organizations

    $70,000

  • 1f · All other contributions, gifts and grants

    $23,648,132

  • 1g · Noncash contributions included above

    $108,829

  • 3 · Investment income

    total $4,321,501 · unrelated business $95 · excluded $4,321,406

  • 7a · Gross sales of assets other than inventory

    securities $392,673

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

    securities $103,207

  • 7c · Gain or loss

    securities $289,466

  • 7d · Net gain or loss

    total $289,466 · excluded $289,466

  • 8a · Fundraising events: gross income

    $127,450

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

    $295,650

  • 8b · Fundraising events: direct expenses

    $190,121

  • 8c · Net income from fundraising events

    total -$62,671 · excluded -$62,671

  • 9a · Gaming: gross income

    $30,320

  • 9b · Gaming: direct expenses

    $1,958

  • 9c · Net income from gaming

    total $28,362 · excluded $28,362

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,094,472 · program services $8,094,472

  • 6 · Compensation of disqualified persons

    total $7,642,356 · program services $4,467,935 · management and general $1,286,524 · fundraising $1,887,897

  • 9 · Other employee benefits

    total $744,521 · management and general $301,738 · fundraising $442,783

  • 11b · Fees: legal

    total $14,820 · management and general $14,820

  • 11c · Fees: accounting

    total $24,000 · management and general $24,000

  • 11e · Fees: professional fundraising services

    total $353,311 · fundraising $353,311

  • 11g · Fees: other

    total $513,921 · management and general $513,921

  • 12 · Advertising and promotion

    total $331,821 · fundraising $331,821

  • 13 · Office expenses

    total $3,306,144 · program services $3,281,285 · management and general $10,075 · fundraising $14,784

  • 16 · Occupancy

    total $182,592 · management and general $182,592

  • 17 · Travel

    total $57,637 · management and general $23,359 · fundraising $34,278

  • 19 · Conferences, conventions and meetings

    total $29,003 · management and general $11,754 · fundraising $17,249

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $15,457,282 · end of year $13,941,904

  • 7 · Other notes and loans receivable

    beginning of year $82,823,166 · end of year $101,656,706

  • 11 · Investments: publicly traded securities

    beginning of year $68,483,514 · end of year $77,943,409

  • 12 · Investments: other securities

    beginning of year $3,599,813 · end of year $3,497,407

  • 15 · Other assets

    beginning of year $3,612,846 · end of year $3,817,584

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,667,058 · end of year $2,817,804

  • 25 · Other liabilities

    beginning of year $2,036,032 · end of year $1,928,886

  • 27 · Net assets without donor restrictions

    beginning of year $37,566,960 · end of year $50,234,255

  • 28 · Net assets with donor restrictions

    beginning of year $131,706,571 · end of year $145,876,065

Mission and programs · 2023

Mission

To inspire community philanthropy to advance exceptional health care for patients at Morristown Medical Center. The objective is to use philanthropy to preserve and expand the Medical Center's programs and services in patient care, clinical research, medical and public health education, and preventive medicine.

Activities or mission (Part I)

Refer to Schedule OThe Foundation for Morristown Medical Center is a not-for-profit fundraising organization which solicits funds in its general appeal to support both Morristown Medical Center, which is a division of AHS Hospital Corporation, and the community as the Foundation's Board may deem appropriate.

  • The Foundation for Morristown Medical Center (F4MMC) is a standalone foundation, which is a not-for-profit fundraising organization that solicits funds in its general appeal for the benefit and support of Atlantic Health System, Inc. and AHS Hospital Corporation (the Corporation), and all subsidiaries thereof. Morristown Medical Center is the principal recipient of the fundraising carried out by F4MMC.

    Expenses $15,843,692

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrew Rooke Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Anthony A Lombardo

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Shawn Bennan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Brenda Matti-Orozco MD FACP

    Trustee

    Total calculated
    $481,139
    From this org
    $0
    From related orgs
    $450,240
    Other
    $30,899
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $366,291 related
    Bonus
    $0 + $80,537 related
    Other
    $0 + $3,412 related
    Deferred
    $0 + $17,197 related
    Nontaxable benefits
    $0 + $13,702 related
    Filer's total
    $0 + $481,139 related

  • Kelly Frank

    Trustee-Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Kathy Christie

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Chirag Patel

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Christine Gilfillan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • David Taylor MD

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Eric Whitman MD

    Trustee

    Total calculated
    $1,120,541
    From this org
    $0
    From related orgs
    $1,070,539
    Other
    $50,002
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $810,531 related
    Bonus
    $0 + $257,876 related
    Other
    $0 + $2,132 related
    Deferred
    $0 + $36,300 related
    Nontaxable benefits
    $0 + $13,702 related
    Filer's total
    $0 + $1,120,541 related

  • Robert Coyne

    Trustee

    Total calculated
    $939,362
    From this org
    $0
    From related orgs
    $908,415
    Other
    $30,947
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $445,977 related
    Bonus
    $0 + $462,021 related
    Other
    $0 + $417 related
    Deferred
    $0 + $12,744 related
    Nontaxable benefits
    $0 + $18,203 related
    Filer's total
    $0 + $939,362 related

  • Glenn Yarnis

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Branee Fetherman

    Trustee

    Total calculated
    $465,534
    From this org
    $0
    From related orgs
    $424,391
    Other
    $41,143
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $363,821 related
    Bonus
    $0 + $59,535 related
    Other
    $0 + $1,035 related
    Deferred
    $0 + $23,100 related
    Nontaxable benefits
    $0 + $18,043 related
    Filer's total
    $0 + $465,534 related

  • Meghan Lyon

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • J Peter Simon

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • John Jack Burke III

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Monique Nelson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Juliet Patsalos-Fox

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Carl Goldberg

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kelly Sturman

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Keerti Sharma MD

    Trustee

    Total calculated
    $367,831
    From this org
    $0
    From related orgs
    $340,929
    Other
    $26,902
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,706 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $2,223 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $13,702 related
    Filer's total
    $0 + $367,831 related

  • Keith Richardson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Srinivas V Maddali

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Lori Ingber PHD

    Trustee-Secretary

    Total calculated
    $0
    Hours/week
    2

  • Marc Adee

    Trustee-Vice Chairman

    Total calculated
    $0
    Hours/week
    2

  • John O'Grady MD

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Daniel Wiener

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Mary Courtemanche

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Patricia O'Keefe

    SVP, CNE/Pres. MMC

    Total calculated
    $2,031,575
    From this org
    $0
    From related orgs
    $1,781,450
    Other
    $250,125
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $955,756 related
    Bonus
    $0 + $637,768 related
    Other
    $0 + $187,926 related
    Deferred
    $0 + $240,910 related
    Nontaxable benefits
    $0 + $9,215 related
    Filer's total
    $0 + $2,031,575 related

  • Richard P Goryeb

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Robert Tafaro - Chairman

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Thomas P Mac Mahon

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • W Rodman Ryan

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Walter Lewis MD

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • William D Bruen Jr

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Kathleen Ross

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Deborah Hanson

    Trustee

    Total calculated
    $0
    Hours/week
    2

  • Cynthia W O'Donnell

    Director of Gift Planning

    Total calculated
    $267,723
    From this org
    $0
    From related orgs
    $228,665
    Other
    $39,058
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $0 + $215,866 related
    Bonus
    $0 + $8,552 related
    Other
    $0 + $4,247 related
    Deferred
    $0 + $25,823 related
    Nontaxable benefits
    $0 + $13,235 related
    Filer's total
    $0 + $267,723 related

  • Michael Walter

    SVP-Chief Financial Office

    Total calculated
    $1,108,761
    From this org
    $0
    From related orgs
    $971,184
    Other
    $137,577
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $879,991 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $16,193 related
    Deferred
    $0 + $119,777 related
    Nontaxable benefits
    $0 + $17,800 related
    Filer's total
    $0 + $1,108,761 related

  • Jennifer Smith

    Chief Development Offier

    Total calculated
    $529,330
    From this org
    $0
    From related orgs
    $495,749
    Other
    $33,581
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $0 + $418,564 related
    Bonus
    $0 + $76,428 related
    Other
    $0 + $757 related
    Deferred
    $0 + $15,538 related
    Nontaxable benefits
    $0 + $18,043 related
    Filer's total
    $0 + $529,330 related

  • Kevin Lenahan

    EVP-Chief Business & Strat

    Total calculated
    $7,161,469
    From this org
    $0
    From related orgs
    $6,754,515
    Other
    $406,954
    Hours/week
    2 + 55 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,347,725 related
    Bonus
    $0 + $992,992 related
    Other
    $0 + $4,413,798 related
    Deferred
    $0 + $393,574 related
    Nontaxable benefits
    $0 + $13,380 related
    Filer's total
    $0 + $7,161,469 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4b
2023 Supplemental Executive Retirement Plan (SERP) Earned Credits Atlantic Health implemented a non-qualified Supplemental Executive Retirement Plan (SERP) paid entirely by Atlantic Health System. The SERP is provided to individuals that hold an executive position with Atlantic Health System. The SERP is in addition to benefits provided under the Atlantic Health System 403(b) and the Cash Balance plan if hired prior to December 15, 2013. During 2023, the following Trustee received SERP credits: Patricia O'Keefe $198,010 Michael Walter 117,061 Kevin Lenahan 357,274 The above amounts represent earned credits which have not vested and were not included in the respective 2023 W-2 compensation. However, the earned credits were included as Other Compensation in Column (F) of Part VII and in Schedule J, Column (C) of the 2023 IRS 990 tax return per IRS guidance. Once the Trustee meets the applicable vesting criteria of the plan, the SERP credits will be included as taxable compensation in their respective Form W-2 of that year. 2023 Supplemental Executive Retirement Plan (SERP)Taxable Distributions The following Trustee received taxable SERP distributions during 2023 based on the vesting criteria of the plan document. These taxable SERP distributions were included in the Trustee's 2023 W-2 and reported in Other Reportable Compensation in Schedule J (Sch J, (B)(ii))of the this IRS 990: Patricia O'Keefe $159,977 2023 Mid Career Hire Plan The organization provides a supplemental non-qualified retirement plan (457f plan) known as the Mid-Career Hire Plan (MCHP) for certain officers and key employees. During 2023, the following officer/key employee received vested distributions in this non-qualified retirement plan. Such distributions were included in Box 1, Box 5 and Box 16 of their respective Form W-2: Kevin Lenahan $4,372,618 The Mid Career Hire Plan was terminated effective January 1, 2023. Any existing participants were transferred at that time into the Supplmental Exectiuve Retirement Plan (SERP) as outlined above.

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.

  • Morristown Medical Investors

    Real Estate · NJ

  • Primary Care Partners LLC

    Physician Services · NJ

  • Atlantic Rehabilitation Institute LLC

    Rehabilitation Facility · KY

  • Atlantic Health Partners LLC

    Physician Services · NJ

Related corporations and trusts

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

  • Atlantic Health Management Corp and Subsidiaries

    C · Health · NJ

  • AHS Insurance Company LTD

    C · Insurance · NJ

  • Nutley Medical Care PA

    C · Healthcare · NJ

  • Non-Invasive Diagnostics PA

    C · Healthcare · NJ

  • Specialty Care of Practice Associates PA

    C · Healthcare · NJ

  • Maternal Fetal Medicine of Practice Associates PA

    C · Healthcare · NJ

  • Madison Pediatrics PA

    C · Healthcare · NJ

  • AHS ACO LLC

    C · Physician Practice · NJ

  • The Northwest New Jersey MedicalSurgical Alliance PC

    C · Healthcare Services · NJ

  • The Northwest New Jersey Urgent Care Alliance PC

    C · Healthcare Services · NJ

  • Chilton Community Care Inc and Subs

    C · Healthcare · NJ

  • Chilton Medical Group PC

    C · Healthcare · NJ

  • Robert & Susan Sameth 2011 CHA

    T · Charitable Remainder Uni-Trust (2) · NJ

  • Atlantic Advanced Urgent Care LLC

    C · Healthcare · NJ

  • Care Better ACO LLC

    C · Physician Practice · NJ

  • Atlantic Executive Health PA

    C · Physician Practice · NJ

  • AHS Health Network LLC

    C · Physician Practice · NJ

  • Atlantic Health ACO LLC

    C · Physician Practice · NJ

  • Tertiary Care Specialists of Practice Associates PA

    C · Physician Practice · NJ

  • Visiting Nurse Assoc of Somerset Hills Office Park Cond

    C · Home health services · NJ

  • Ancillary Specialists of Practice Assoc PA

    C · Physician Practice · NJ

  • Functional Medicine of Practice Associates

    C · Physician Practice · NJ

  • Atlantic Urgent Care LLC

    C · Healthcare Services · NJ

  • CentraState Healthcare Services Inc

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Medical Associates PC

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Specialists PC

    C · Health Services · NJ

    Directly controlled by Atlantic Health System Inc

  • CentraState Captive Insurance Co LTD

    Health Services · CJ

    Directly controlled by Atlantic Health System Inc

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349309417

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