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← NEW JERSEY HEALTH FOUNDATION INC

Form 990 for tax year 2024

Filed by NEW JERSEY HEALTH FOUNDATION INC.

Totals

Total revenue
$13,963,524
Total expenses
$14,750,548
Contributions and grants received
$11,725,782
Grants paid
$11,584,805
Program service revenue
$0
Investment income
$2,237,742
Other revenue
$0
Total assets, end of year
$250,445,986
Total liabilities, end of year
$3,728,984
Net assets or fund balances, end of year
$246,717,002
Program services expenses (Part IX)
$14,017,529
Management and general expenses
$733,019
Fundraising expenses
$0
Program service expenses (Part III)
$14,017,529

Program services were 95.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $11,725,782

  • 1g · Noncash contributions included above

    $1,524,809

  • 3 · Investment income

    total $2,237,742 · related or exempt $0 · unrelated business $0 · excluded $2,237,742

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,584,805 · program services $11,584,805

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,488,567 · program services $1,081,863 · management and general $406,704 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $541,992 · program services $406,494 · management and general $135,498 · fundraising $0

  • 8 · Pension plan contributions

    total $65,037 · program services $37,722 · management and general $27,315 · fundraising $0

  • 9 · Other employee benefits

    total $44,654 · program services $25,899 · management and general $18,755 · fundraising $0

  • 10 · Payroll taxes

    total $19,952 · program services $11,572 · management and general $8,380 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $50,153 · program services $37,615 · management and general $12,538 · fundraising $0

  • 11c · Fees: accounting

    total $42,380 · program services $31,785 · management and general $10,595 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $80,781 · program services $61,041 · management and general $19,740 · fundraising $0

  • 14 · Information technology

    total $118,161 · program services $90,308 · management and general $27,853 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $159,155 · program services $119,366 · management and general $39,789 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $2,258 · program services $1,694 · management and general $564 · fundraising $0

  • 23 · Insurance

    total $134,506 · program services $100,880 · management and general $33,626 · fundraising $0

  • 24a · Other expenses: Management fee

    total -$38,000 · program services -$28,500 · management and general -$9,500 · fundraising $0

  • 24e · All other expenses

    total $456,147 · program services $454,985 · management and general $1,162 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $466,605 · end of year $241,439

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $700,000 · end of year $1,799,680

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $214,157

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

    $208,979

  • 10c · Land, buildings and equipment, net

    beginning of year $7,436 · end of year $5,178

  • 11 · Investments: publicly traded securities

    beginning of year $169,479,858 · end of year $190,295,039

  • 12 · Investments: other securities

    beginning of year $55,905,147 · end of year $57,203,798

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $670,166 · end of year $900,852

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,019,475 · end of year $909,743

  • 18 · Grants payable

    beginning of year $1,895,640 · end of year $2,237,171

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $30,000 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $828,613 · end of year $582,070

  • 27 · Net assets without donor restrictions

    beginning of year $57,223,236 · end of year $59,246,928

  • 28 · Net assets with donor restrictions

    beginning of year $166,232,248 · end of year $187,470,074

Mission and programs · 2024

Mission

The Organization's mission is to support healthcare education, research and patient care programs in the State of New Jersey and for other scientific, charitable, literary and educational purposes.

  • The organization provided grants to support faculty chairs, research scholarships, fellowships and other programs at Rutgers School of Biomedical and Health Sciences and Rowan School or Osteopathic Medicine in accordance with donor restrictions

    Expenses $6,661,016 · Grants $6,661,016

  • The organization provided grants to the faculty of Rutgers School of Biomedical Health Sciences, New Jersey Institute of Technology, Princeton University, Stevens Institute of Technology, Kessler Foundation, Cooper University Healthcare, Hackensack Meridian Health and Rowan School of Osteopathic Medicine to help further research in a wide variety of medical and scientific areas.

    Expenses $7,351,978 · Grants $4,919,254

  • Payments to charitable gift annuitant holders.

    Expenses $4,535 · Grants $4,535

As filed on the 2024 return.

Listed in Part VII

  • James M Golubieski

    President & CEO

    Total calculated
    $622,808
    From this org
    $599,792
    From related orgs
    $0
    Other
    $23,016
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $599,792
    Bonus
    $0
    Other
    $0
    Deferred
    $71,975
    Nontaxable benefits
    $23,016
    Filer's total
    $694,783

  • Aggie Worthington

    VP Finance & CFO

    Total calculated
    $293,744
    From this org
    $293,744
    From related orgs
    $0
    Other
    $0
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $293,744
    Bonus
    $0
    Other
    $0
    Deferred
    $35,249
    Nontaxable benefits
    $0
    Filer's total
    $328,993

  • Laura Harrel

    VP Admin and HR

    Total calculated
    $230,487
    From this org
    $217,503
    From related orgs
    $0
    Other
    $12,984
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $217,503
    Bonus
    $0
    Other
    $0
    Deferred
    $26,100
    Nontaxable benefits
    $12,984
    Filer's total
    $256,587

  • Dean Janeway

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Sandra Brown Sherman Esq

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan J Flynn Hollander

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Roger S Fine Esq

    Director

    Total calculated
    $0
    Hours/week
    1

  • Suzann B Goldstein

    Director

    Total calculated
    $0
    Hours/week
    1

  • Andrew M Grumet Esq

    Director

    Total calculated
    $0
    Hours/week
    1

  • Bruce A Harris Esq

    Director

    Total calculated
    $0
    Hours/week
    1

  • Murray Kushner

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert W Pierce II

    Director

    Total calculated
    $0
    Hours/week
    1

  • Patricia C Costante

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paul J Hirsch MD

    Director

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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

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

  • Rutgers University

    $7,360,232

    Grants to support researchers early stage innovative ideas and grants to support research programs/scholarships at the University.

  • Rowan University

    $1,810,593

    Grants to support researchers early stage innovative ideas and grants to support research programs/scholarships at the University.

  • Hackensack Meridian Health

    $997,198

    Grants to support researchers early stage innovative ideas.

  • New Jersey Institute of Technology

    $327,000

    Grants to support researchers early stage innovative ideas.

  • Cooper University Hospital

    $211,000

    Grants to support researchers early stage innovative ideas.

  • Kessler Foundation

    $167,183

    Grants to support researchers early stage innovative ideas.

  • University Hospital

    $121,500

    Grants to support researchers early stage innovative ideas.

  • Virtua Health

    $118,058

    Grants to support researchers early stage innovative ideas.

  • Union County Vocational Technical School

    $100,000

    Grant to support student programs at UCVT.

  • Stuart Country Day School

    $50,000

    Grant to support student program.

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Foundation Venture Capital Group

    Invest · NJ · income $0 · assets $3,646,180

    Directly controlled by New Jersey Health Foundation

  • Health Start NJ

    Invest · NJ · income $0 · assets $0

    Directly controlled by New Jersey Health Foundation

Provenance

Return type
form_990
Tax year
2024
Filed
4 December 2025
IRS schema version
2024v5.0
Source object
202503499349300645

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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