MONMOUTH MEDICAL CENTER - SOUTHERN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

Caitlin r Olson

Phone

9733224032

Tax Period

2023-01-01 to 2023-12-31

MONMOUTH MEDICAL CENTER - SOUTHERN CAMPUS FOUNDATION, founded in 1985, is a community nonprofit in the Health Care sector that reported $1.7M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $4.2M exceeded revenue, resulting in a 146% operating deficit.

Mission

TO SUPPORT THE CHARITABLE TAX-EXEMPT PURPOSES, PROGRAMS AND SERVICES OF MONMOUTH MEDICAL CENTER (SOUTHERN CAMPUS); A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILITY TO PAY.

Program Service Accomplishments

Program 1

Expenses: $3,396,141 Revenue: $789,746

EXPENSES INCURRED IN SUPPORT OF THE CHARITABLE PURPOSES, PROGRAMS AND SERVICES OF MONMOUTH MEDICAL CENTER (SOUTHERN CAMPUS); A RELATED INTERNAL REVENUE CODE SECTION 501(C)(3) TAX-EXEMPT ORGANIZATION, WHICH PROVIDES MEDICALLY NECESSARY HEALTHCARE SERVICES TO ALL INDIVIDUALS IN A NON-DISCRIMINATORY MANNER REGARDLESS OF RACE, COLOR, CREED, SEX, NATIONAL ORIGIN OR ABILTY TO PAY.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $677,042

Program Service Revenue $789,746

Investment Income $206,177

Other Revenue $13,991

TOTAL REVENUE $1,686,956

Expense Breakdown

Grants Paid $3,396,141

Salaries & Benefits $0

Fundraising Expenses $452,642

Program Expenses $3,396,141

Other Expenses $760,665

TOTAL EXPENSES $4,156,806

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,686,956	$1,963,838	-0.1%
Expenses	$4,156,806	$1,238,057	+2.4%
Net Income	$-2,469,850	$725,781	-4.4%

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

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$542,282

Total Directors

$62,396

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAITLIN R OLSON	VP DEVELOPMENT (EFF 2/23/23)	55.0	Officer	$0	$18,336	$305,570
DENICE V GAFFNEY	VP DEVELOPMENT(TERMED 2/22/23)	55.0	Officer	$0	$1,150	$236,712
WILLIAM M SCHULMAN MD	TRUSTEE	50.0	Director	$0	$304	$62,396
ROBERT SICKEL	CHAIRMAN - TRUSTEE	1.0	Officer Director	$0	$0	$0
THOMAS CALABRO	VICE CHAIRMAN - TRUSTEE	1.0	Officer Director	$0	$0	$0
BEN HEINEMANN	SECRETARY - TRUSTEE	1.0	Officer Director	$0	$0	$0
FRANK J CONGILOSE	TREASURER - TRUSTEE	1.0	Officer Director	$0	$0	$0
ROBERT J CALABRO	TRUSTEE	1.0	Director	$0	$0	$0
NAOMI HALPERT	TRUSTEE	1.0	Director	$0	$0	$0
ALAN KRUPNICK	TRUSTEE	1.0	Director	$0	$0	$0
ROBERT LAWSON	TRUSTEE	1.0	Director	$0	$0	$0
JAMES R MAIDA	TRUSTEE	1.0	Director	$0	$0	$0
DEBRA J MORGAN	TRUSTEE	1.0	Director	$0	$0	$0
ADAM PFEFFER ESQ	TRUSTEE	1.0	Director	$0	$0	$0
JOSEPH RUSSELL ESQ	TRUSTEE	1.0	Director	$0	$0	$0
BRIAN J TRAMONTANO	TRUSTEE	1.0	Director	$0	$0	$0
BRIAN BUCKELEW	TRUSTEE (TERMED 5/23)	1.0	Director	$0	$0	$0
GLENN MILLER	RWJBH CHIEF DEV. OFFICER	0.0	Officer	$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
2024	No data	No data	No data	No data
2023	$1,686,956	$4,156,806	$5,854,556	$-2,469,850
2022	$1,963,838	$1,238,057	$8,402,793	$725,781
2021	$1,934,126	$1,299,302	$7,987,428	$634,824
2020	$1,652,007	$2,988,758	$7,123,980	$-1,336,751
2019	$1,784,754	$2,060,478	$8,407,717	$-275,724
2018	$1,348,489	$974,504	$8,388,149	$373,985

MONMOUTH MEDICAL CENTER - SOUTHERN CAMPUS FOUNDATION