Nonprofit · EIN 22-2618102
NEWTON MEDICAL CENTER FOUNDATION
Tax-exempt · NEWTON, NJ 07860
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,044,029 | $1,877,648 | $1,166,381 | $38,853,344 | $159,045 | $38,694,299 |
| December 31, 2023 | 990 | $2,189,475 | $861,143 | $1,328,332 | $36,032,935 | $354,728 | $35,678,207 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,184,371
- Program service revenue
- $0
- Investment income
- $1,977,060
- Net gain from sales of assets
- $1,020,858
- Net income from fundraising events
- -$151,360
- Net income from gaming
- $40,402
- Net income from sales of inventory
- -$6,444
- Other revenue
- -$117,402
Expenses
- Grants and similar amounts paid
- $1,393,109
- Other salaries and wages
- $238,006
- Salaries, compensation and benefits (total)
- $315,749
- Professional fundraising fees
- $0
- Legal fees
- $3,657
- Program services (functional)
- $1,393,109
- Management and general (functional)
- $453,115
- Fundraising (functional)
- $31,424
Balance sheet and other
- Total assets, start of year
- $36,032,935
- Total assets, end of year
- $38,853,344
- Total liabilities, end of year
- $159,045
- Net assets, end of year
- $38,694,299
- Publicly traded securities
- $36,938,933
- Net assets without donor restrictions
- $29,725,700
- Net assets with donor restrictions
- $8,968,599
- Gross receipts
- $5,228,566
- Employees
- 0
- Volunteers
- 15
- Year formed
- 1985
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Kevin Lenahan | EVP-Chief Business & Strat Officer | 2 | $0 | $2,924,716 | $461,142 |
| Michael Walter | SVP-Chief Financial Office Officer | 2 | $0 | $1,615,288 | $257,152 |
| Robert Adams | Trustee-President, Western Trustee or director, Officer | 2 | $0 | $1,266,625 | $185,492 |
| Megan Sandow | Trustee-Chief Dev Officer Trustee or director, Officer | 2 | $0 | $337,441 | $32,230 |
| Mark Avondoglio | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Salvatore Dispenziere III | Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Buffie Dobbs | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Colleen Apter | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Larry Condit | Asst. Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| E Jane Brown | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| George W Morville Jr | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Greg Nolan | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jason Apter | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jeffrey J Quinn | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jo-Ellen McCracken Hazen | Trustee Trustee or director | 2 | $0 | $0 | $0 |
16 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Karl Wagner | Trustee Trustee or director | 2 | $0 |
| Kim Ferruggia | Trustee Trustee or director | 2 | $0 |
| Kurt Walton | Trustee Trustee or director | 2 | $0 |
| Thomas N Ryan Esq | Trustee-Secretary Trustee or director, Officer | 2 | $0 |
| Mark Cummins | Trustee Trustee or director | 2 | $0 |
| Mary Waller | Trustee - Aux. Rep Trustee or director | 2 | $0 |
| Matthew Hannum | Trustee Trustee or director, Officer | 2 | $0 |
| Michael E Holenstein | Trustee Trustee or director | 2 | $0 |
| Michael Lanza Esq | Trustee Trustee or director | 2 | $0 |
| Richard Bourque | Trustee Trustee or director | 2 | $0 |
| Robert Masci MD FACC | Trustee Trustee or director | 2 | $0 |
| Donald Costlow DVM | Trustee Trustee or director | 2 | $0 |
| Raymond Cordts DMV | Trustee Trustee or director | 2 | $0 |
| Ronald K Harris MD | Trustee Trustee or director | 2 | $0 |
| David P Romano | Trustee-Vice Chairman Trustee or director | 2 | $0 |
| Tracey Woodhead | Trustee Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 30 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Kevin Lenahan | EVP-Chief Business & Strategy Officer Officer | 2 | $0 | $6,754,515 | $406,954 |
| Robert Adams | Trustee-President, Western Trustee or director, Officer | 2 | $0 | $1,088,433 | $146,989 |
| Michael Walter | SVP-Chief Financial Officer Officer | 2 | $0 | $971,184 | $137,577 |
| Megan Sandow | Trustee-Chief Dev Officer Trustee or director, Officer | 2 | $0 | $304,606 | $30,355 |
| Mark Avondoglio | CHAIRMAN Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Salvatore Dispenziere III | Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Buffie Dobbs | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Colleen Apter | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Larry Condit | Asst. Treasurer Trustee or director, Officer | 2 | $0 | $0 | $0 |
| E Jane Brown | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| George W Morville Jr | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Greg Nolan | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jason Apter | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jeffrey J Quinn | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Jo-Ellen McCracken Hazen | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Karl Wagner | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Kim Ferruggia | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Kurt Walton | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Thomas N Ryan Esq | Vice Chairman Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Mark Cummins | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Mary Waller | Trustee - Aux. Rep Trustee or director | 2 | $0 | $0 | $0 |
| Matthew Hannum | Trustee-Secretary Trustee or director, Officer | 2 | $0 | $0 | $0 |
| Michael E Holenstein | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Michael Lanza Esq | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Richard Bourque | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Robert Masci MD FACC | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Donald Costlow DVM | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Suvid Chaudhari DO | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| Daniel Leary | Trustee Trustee or director | 2 | $0 | $0 | $0 |
| David P Romano | Trustee Trustee or director | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 175 HIGH ST, NEWTON, NJ 07860-1004
- Principal officer (990 for 2024)
- MICHAEL WALTER, 475 South Street, Morristown, NJ 07960
- Signed the 990
- Michael Walter, SVP - CFO
- Phone
- (973) 579-8513
- Return prepared by
- Ernst & Young US LLP
Mission
The Newton Medical Center Foundation, the philanthropic arm of Newton Medical Center exists to philanthropically serve the present and future health and wellness needs of our community and beyond, as defined by Newton Medical Center.
Program accomplishments
- Newton Medical Center Foundation transfers funds to Newton Medical Center (the "Hospital") to support the hospital and the community it serves. Transfers include payments on various capital campaigns supporting capital projects of the hospital as well as donations made for a specific purpose benefiting various areas of the hospital.Expenses $1,142,192 · grants $1,142,192
- The Foundation purchases AEDs (Automated External Defribrillators) and charges nonprofit community organizations 50% of the cost. The Foundation then assumes the balance of the purchase price as a donation to the community.Expenses $96,340 · grants $96,340
- Board approved funding that the Foundation awarded to Newton Medical Center for an Oncology Nurse Navigator to help assist the patient, their family, and/or caregivers across the continuum, to overcome any health barriers, providing a comprehensive assessment and facilitate timely referrals for appointments to the multidisciplinary oncology teamExpenses $54,662 · grants $54,662
- Represents targeted funding of various Newton Medical Center programs/healthcare intitiatives including ovarion cancer screening and nursing scholarships among others.Expenses $99,915 · grants $99,915
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 22-2618102
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1985
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $38,853,344
- Income (IRS master file)
- $5,228,566
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,044,029 | $1,877,648 | $38,853,344 | IRS |
| 990 | December 2023 | $2,189,475 | $861,143 | $36,032,935 | XML |
| 990 | December 2022 | $1,881,724 | $828,257 | $30,900,027 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-2618102).
Questions about NEWTON MEDICAL CENTER FOUNDATION
- What is the EIN of NEWTON MEDICAL CENTER FOUNDATION?
- The employer identification number (EIN) of NEWTON MEDICAL CENTER FOUNDATION is 22-2618102.
- Is NEWTON MEDICAL CENTER FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1985.
- Are donations to NEWTON MEDICAL CENTER FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEWTON MEDICAL CENTER FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEWTON MEDICAL CENTER FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEWTON MEDICAL CENTER FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEWTON MEDICAL CENTER FOUNDATION?
- The 990 for the year ended December 31, 2024 names MICHAEL WALTER.
- Who are the officers and directors of NEWTON MEDICAL CENTER FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 31 people; 0 received compensation from the organization.
- How much revenue does NEWTON MEDICAL CENTER FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,044,029, expenses of $1,877,648 and total assets of $38,853,344 at year end.
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