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Nonprofiteer
← FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER

Form 990 for tax year 2023

Filed by FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER.

Totals

Total revenue
$7,629,084
Total expenses
$4,930,849
Contributions and grants received
$7,608,002
Grants paid
$3,636,950
Program service revenue
$0
Investment income
$34,336
Other revenue
-$13,254
Total assets, end of year
$24,256,882
Total liabilities, end of year
$266,384
Net assets or fund balances, end of year
$23,990,498
Program services expenses (Part IX)
$3,636,950
Management and general expenses
$266,340
Fundraising expenses
$1,027,559
Program service expenses (Part III)
$3,636,950

Program services were 73.8% 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

    $15,000

  • 1c · Fundraising events

    $374,775

  • 1f · All other contributions, gifts and grants

    $7,218,227

  • 1g · Noncash contributions included above

    $30,195

  • 3 · Investment income

    total $18,530 · excluded $18,530

  • 7a · Gross sales of assets other than inventory

    securities $5,518,154

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

    securities $5,502,348

  • 7c · Gain or loss

    securities $15,806

  • 7d · Net gain or loss

    total $15,806 · excluded $15,806

  • 8a · Fundraising events: gross income

    $83,575

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

    $374,775

  • 8b · Fundraising events: direct expenses

    $96,829

  • 8c · Net income from fundraising events

    total -$13,254 · excluded -$13,254

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,636,950 · program services $3,636,950

  • 5 · Compensation of officers, directors and key employees

    total $222,016 · fundraising $222,016

  • 7 · Other salaries and wages

    total $503,290 · fundraising $503,290

  • 9 · Other employee benefits

    total $84,248 · fundraising $84,248

  • 10 · Payroll taxes

    total $51,445 · fundraising $51,445

  • 11a · Fees: management

    total $210,224 · management and general $210,224

  • 11c · Fees: accounting

    total $10,500 · management and general $10,500

  • 11f · Fees: investment management

    total $41,791 · management and general $41,791

  • 11g · Fees: other

    total $3,825 · management and general $3,825

  • 13 · Office expenses

    total $8,006 · fundraising $8,006

  • 14 · Information technology

    total $72,226 · fundraising $72,226

  • 17 · Travel

    total $383 · fundraising $383

  • 19 · Conferences, conventions and meetings

    total $599 · fundraising $599

  • 24a · Other expenses: SPECIAL EVENTS

    total $52,901 · fundraising $52,901

  • 24b · Other expenses: FOOD SUPPLIES

    total $12,732 · fundraising $12,732

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $4,442 · fundraising $4,442

  • 24d · Other expenses: MINOR EQUIPMENT

    total $2,580 · fundraising $2,580

  • 24e · All other expenses

    total $12,691 · fundraising $12,691

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,353,144 · end of year $4,086,236

  • 3 · Pledges and grants receivable

    beginning of year $223,350 · end of year $1,818,156

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

    $13,500

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

    $13,500

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $77,890 · end of year $67,724

  • 12 · Investments: other securities

    beginning of year $16,826,536 · end of year $18,284,766

  • 17 · Accounts payable and accrued expenses

    beginning of year $84,585 · end of year $65,147

  • 19 · Deferred revenue

    beginning of year $156

  • 25 · Other liabilities

    beginning of year $212,262 · end of year $201,237

  • 27 · Net assets without donor restrictions

    beginning of year $11,035,876 · end of year $13,609,226

  • 28 · Net assets with donor restrictions

    beginning of year $8,148,041 · end of year $10,381,272

Mission and programs · 2023

Mission

TO PROVIDE FUNDRAISING AND OTHER SUPPORT TO FURTHER THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF ITS CONTROLLING ENTITY, MOUNT NITTANY HEALTH SYSTEM.

Activities or mission (Part I)

PROVIDE FUNDRAISING & SUPPORT TO FURTHER THE CHARITABLE, EDUCATIONAL & SCIENTIFIC PURPOSES OF MNMC.

  • THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. IS AN AFFILIATE OF MOUNT NITTANY HEALTH SYSTEM (HEALTH SYSTEM) WHICH INCLUDES AN ACUTE CARE HOSPITAL WITH 260 BEDS (MOUNT NITTANY MEDICAL CENTER), MOUNT NITTANY MEDICAL CENTER HEALTH SERVICES, INC., MOUNT NITTANY PHYSICIAN GROUP, CENTRE COUNTY CHILDREN'S ADVOCACY CENTER, AND THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. THE MISSION IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR PEOPLE OF OUR REGION BY SUPPORTING THE ADVANCEMENT OF HEALTHCARE AT MOUNT NITTANY HEALTH.CONTINUED ON SCHEDULE O.THE FOUNDATION SUPPORTS FUNDRAISING AND OTHER ACTIVITIES TO FURTHER THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF MOUNT NITTANY MEDICAL CENTER ("MNMC"). ACTIVITIES WITHIN FISCAL YEAR 2023 INCLUDED THE FOLLOWING:MOUNT NITTANY HEALTH FOUNDATION RAISED $5,519,654 IN CASH GIFTS. ADDITIONALLY, $3,055,000 IN COMMITMENTS COMPRISED OF MULTI-YEAR PLEDGES AND PLANNED GIFTS WERE DOCUMENTED IN FY 2024.THE 33RD ANNUAL GOLF CLASSIC RAISED $352,431 WITH PROCEEDS SUPPORTING THE CREATION OF A NEW PHYSICAL THERAPY AND REHABILITATION SUITE AT THE NEW OUTPATIENT CENTER AT TOFTREES AND A NEW ATHLETIC TRAINING PROGRAM THROUGH MOUNT NITTANY HEALTH ORTHOPEDICS.DURING FY 2024, $65,300 WAS RECEIVED FOR THE 34TH ANNUAL GOLF CLASSIC. PROCEEDS FOR THIS EVENT SUPPORTED MOUNT NITTANY HEALTH'S PATIENT TOWER.$438,151 WAS RECEIVED IN FY 2024 FOR THE 75TH ANNUAL CHARITY BALL WHICH TOOK PLACE ON FEBRUARY 10, 2024, AT THE PENN STATER HOTEL AND CONFERENCE CENTER. THE 75TH ANNUAL CHARITY BALL BENEFITED MOUNT NITTANY HEALTH'S PATIENT TOWER.PLEDGE PAYMENTS - CARDIOVASCULAR PAVILION COLLECTED $3,000 FROM A PAST PLEDGE - CHILDREN'S ADVOCACY CENTER COLLECTED $2,500 FROM A PAST PLEDGEPROGRAMMATIC FUNDING - CHILDREN'S ADVOCACY CENTER (CAC)THE SUPPORT TO THE CAC TOTALED $60,594 IN CASH GIFTS WHICH WAS CUMULATIVE FUNDING FROM ONE GRANT, SOLICITED GIFTS, AND GENERAL COMMUNITY SUPPORT. THREE, MULTI-YEAR PLEDGES TOTALING $2,000,000 WERE ALSO DOCUMENTED IN FY 2024. - MEDICAL STAFF ENDOWMENTA TOTAL OF $1,000 WAS RECEIVED FOR THE MEDICAL STAFF ENDOWMENT TO FUND PROJECTS OR PROGRAMS IDENTIFIED ANNUALLY BY THE MEDICAL EXECUTIVE COMMITTEE IN CONSULTATION WITH REPRESENTATIVES FROM MOUNT NITTANY MEDICAL CENTER ADMINISTRATION. - STRICKLER ENDOWMENTA TOTAL OF $10,000 WAS RECEIVED FOR THE STRICKLER ENDOWMENT TO SUPPORT IMPROVEMENTS TO THE BREAST CARE CENTER FOR PATIENTS, PHYSICIANS, AND STAFF. - MOUNT NITTANY HEALTH TOFTREES CLOSE SUPPORTERS OF MOUNT NITTANY HEALTH SUPPORTED THE PLANNING OF THIS EFFORT WITH $30,195 IN CASH GIFTS. ONE, MULTI-YEAR PLEDGE TOTALING $100,000 WERE ALSO DOCUMENTED IN SUPPORT OF TOFTREES IN FY 2024. - MOUNT NITTANY HEALTH PATIENT TOWER CLOSE SUPPORTERS OF MOUNT NITTANY HEALTH SUPPORTED THE PLANNING OF THIS EFFORT WITH $523,982 IN CASH GIFTS. FIVE, MULTI-YEAR PLEDGES AND ONE, PLANNED GIFT TOTALING $575,000 WERE ALSO DOCUMENTED IN SUPPORT OF THE PATIENT TOWER IN FY 2024.GIVING CATEGORIES - ANNUAL GIVINGEND OF YEAR, DOCTORS' DAY, AND NURSES WEEK APPEALS RAISED $163,615 FOR VARIOUS PROGRAMS AND SERVICES AT MOUNT NITTANY HEALTH WITH A CONCENTRATION ON UNRESTRICTED SUPPORT, THE STAFF WELL-BEING AND EDUCATION FUND, AND THE CANCER CARE FUND. - GRATEFUL PATIENT PROGRAMRAISED $6,680 FOR VARIOUS PROGRAMS AND SERVICES AT MOUNT NITTANY HEALTH FROM GRATEFUL PATIENTS AND THEIR FAMILIES. - MEMORIAL GIFTS$8,288 WAS GIVEN IN SUPPORT OF FRIENDS LOST IN OUR COMMUNITY. OUTSIDE EVENTS - CENTRE GIVES PROUD PARTICIPANT OF THIS COMMUNITY FUNDRAISING EVENT WHERE $6,404 WAS GIVEN IN SUPPORT OF CARE FOR THE CAREGIVERS OF MOUNT NITTANY HEALTH - CENTRE COUNTY COURT JURY PROGRAM $787 RAISED IN SUPPORT OF THE CHILDREN'S ADVOCACY FUND - YMCA OF CENTRE COUNTY CHARITY PICKLEBALL TOURNAMENT - $2,522 RAISED IN SUPPORT OF THE CANCER CARE FUND

    Expenses $3,636,950 · Grants $3,636,950

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

Listed in Part VII

  • William P Hayes

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kay Kustanbauter

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kasandra A Botti Do

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Thomas J Taricani

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Kathleen Rhine

    CEO/OFFICER/DIRECTOR

    Total calculated
    $2,628,611
    From this org
    $0
    From related orgs
    $2,332,581
    Other
    $296,030
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $885,294 related
    Bonus
    $0 + $805,522 related
    Other
    $0 + $641,765 related
    Deferred
    $0 + $282,688 related
    Nontaxable benefits
    $0 + $13,342 related
    Filer's total
    $0 + $2,628,611 related

  • Beth Kalenak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ted Oyler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Paul Tomczuk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Theodore Ziff MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Adrienne Krasowitz

    EXECUTIVE DIRECTOR

    Total calculated
    $204,747
    From this org
    $185,894
    From related orgs
    $0
    Other
    $18,853
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,086
    Bonus
    $9,125
    Other
    $1,683
    Deferred
    $8,972
    Nontaxable benefits
    $9,881
    Filer's total
    $204,747

  • Bryan Roach

    EXECUTIVE VP/CFO

    Total calculated
    $767,856
    From this org
    $0
    From related orgs
    $690,811
    Other
    $77,045
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $533,676 related
    Bonus
    $0 + $153,706 related
    Other
    $0 + $3,429 related
    Deferred
    $0 + $20,304 related
    Nontaxable benefits
    $0 + $56,741 related
    Filer's total
    $0 + $767,856 related

  • Lance Rose

    FORMER CEO/OFFICER/DIRECTOR

    Total calculated
    $14,721
    From this org
    $0
    From related orgs
    $14,721
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $14,721 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $14,721 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

  • 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)

PART I, LINE 3
THE CEO IS AN EMPLOYEE OF MOUNT NITTANY MEDICAL CENTER ("MNMC"). MNMC USES ALL OF THE METHODS UNDER LINE 3 OTHER THAN REVIEWING 990S OF OTHER ORGANIZATIONS TO ESTABLISH COMPENSATION.
PART I, LINES 4A-B
THE FORMER CEO, LANCE ROSE, RECEIVED A NONQUALIFIED RETIREMENT PLAN PAYMENT OF $14,721 DURING THE CALENDAR YEAR. THE CHIEF EXECUTIVE OFFICER, KATHLEEN RHINE, PARTICIPATES IN 457(F) NON-QUALIFIED RETIREMENT PLAN. CONTRIBUTIONS MADE DURING THE CALENDAR YEAR WERE $262,806.
PART I, LINE 7
THE EXECUTIVE TEAM MEMBERS OF MOUNT NITTANY MEDICAL CENTER AND THE MOUNT NITTANY MEDICAL CENTER HEALTH SERVICES (D/B/A MOUNT NITTANY PHYSICIAN GROUP) EXECUTIVE DIRECTOR RECEIVED A PORTION OF THEIR ANNUAL VARIABLE-PAY BASED UPON THE CONSOLIDATED OPERATING MARGIN, MOUNT NITTANY MEDICAL CENTER HEALTH SERVICES' (D/B/A MOUNT NITTANY PHYSICIAN GROUP) OPERATING MARGIN, CONTRIBUTIONS, AND OTHER CORPORATE GOALS. THE CORPORATE GOALS FOCUSED ON (1) PROVIDING LOCALIZED CARE, INTEGRATED CARE, EFFICIENT CARE, AND ALIGNED CARE; (2) FINANCE; (3) QUALITY/PATIENT SAFETY; AND (4) THE WORK ENVIRONMENT.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
10 May 2025
IRS schema version
2023v6.0
Source object
202501349349302100

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