EDWARD J ILL EXCELLENCE IN MEDICINE FOUNDATION INC

EIN: 208498347 501(c)(3)

Princeton, NJ

Total Revenue
$252,405
Total Expenses
$728,900
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NJ
Principal Officer
Patricia Costante
Phone
9087316610
Tax Period
2023-01-01 to 2023-12-31

EDWARD J ILL EXCELLENCE IN MEDICINE FOUNDATION INC, founded in 2007, is a small nonprofit that reported $252K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $729K exceeded revenue, resulting in a 189% operating deficit.

Mission

To promote and encourage excellence in medical care and healthcare. To recognize excellence in our healthcare system and to provide significant scholarships to students who represent these values. The Foundation seeks to promote excellence by providing scholarships to NJ residents who are medical, dental, pharmaceutical and physician assistant students at NJ schools. The students selected have demonstrated excellence in scholarship, research, leadership and civic engagement and intend to practice in NJ.

Program Service Accomplishments

Program 1
Expenses: $155,000 Revenue: $227,525

Through the Rutgers New Jersey Medical School, Rutgers Robert Wood Johnson Medical School, Rutgers School of Dental Medicine, Seton Hall University School of Health and Medical Sciences, Cooper...

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Through the Rutgers New Jersey Medical School, Rutgers Robert Wood Johnson Medical School, Rutgers School of Dental Medicine, Seton Hall University School of Health and Medical Sciences, Cooper Medical School of Rowan University, Rowan University School of Osteopathic Medicine, Rutgers School of Health Professions, Hackensack Meridian School of Medicine and Rutgers Ernest Mario School of Pharmacy, 9 scholarships were awarded to students who demonstrated excellence in scholarship, research, leadership and civic engagement.

Program 2
Expenses: $331,113 Revenue: $0

Provided contribution to Foundation for Health Advancement to support their nonprofit mission supporting health related research and education.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $252,000
Program Service Revenue $0
Investment Income $405
Other Revenue $0
TOTAL REVENUE $252,405

Expense Breakdown

Grants Paid $155,000
Salaries & Benefits $0
Fundraising Expenses $137,466
Program Expenses $486,113
Other Expenses $573,900
TOTAL EXPENSES $728,900

Year-over-Year Comparison

2023 2022 Change
Revenue $252,405 $206,097 +0.2%
Expenses $728,900 $271,522 +1.7%
Net Income $-476,495 $-65,425 +6.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
6

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paul J Hirsch MD Trustee Chairman 1
Officer Director
$0 $0 $0
Patricia A Costante Trustee Vice Chairman 1
Officer Director
$0 $0 $0
Christopher S Bateman Trustee 1
Director
$0 $0 $0
Nina L Gowaty Trustee 1
Director
$0 $0 $0
George F Heinrich MD Trustee 1
Director
$0 $0 $0
Peter A Inverso Trustee 1
Director
$0 $0 $0
Michael J McDonough PhD Trustee 1
Director
$0 $0 $0
Michael J Schoppman Trustee 1
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $252,405 $728,900 No data $-476,495
2022 $206,097 $271,522 $491,340 $-65,425
2021 $288,050 $313,760 $601,056 $-25,710
2020 $125,027 $181,091 $614,355 $-56,064
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