MOHAWK VALLEY HEALTH SYSTEM FOUNDATION

EIN: 223078768 501(c)(3) Health Care

UTICA, NY

Total Revenue
$8,397,350
Total Expenses
$21,100,105
Total Assets
$54,731,808
Net Assets
$36,907,969
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
NY
Principal Officer
Louis Aiello
Phone
3156246000
Tax Period
2023-01-01 to 2023-12-31

MOHAWK VALLEY HEALTH SYSTEM FOUNDATION, founded in 1989, is a community nonprofit in the Health Care sector that reported $8.4M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $21.1M exceeded revenue, resulting in a 151% operating deficit.

Mission

TO PROVIDE PHILANTHROPIC FUNDS FOR THE BENEFIT OF MOHAWK VALLEY HEALTH SYSTEM AND IT'S AFFILIATES.

Program Service Accomplishments

Program 1
Expenses: $20,288,444 Revenue: $8,397,350

RAISING FUNDS THROUGH ANNUAL GIVING AND SPECIAL EVENTS. THE MOST SIGNIFICANT ACTIVITIES INCLUDE THE CAMPAIGN FOR BUILDING OF THE INTEGRATED HEALTH CAMPUS, CHILDREN'S MIRACLE NETWORK MIRACLE DRAWING...

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RAISING FUNDS THROUGH ANNUAL GIVING AND SPECIAL EVENTS. THE MOST SIGNIFICANT ACTIVITIES INCLUDE THE CAMPAIGN FOR BUILDING OF THE INTEGRATED HEALTH CAMPUS, CHILDREN'S MIRACLE NETWORK MIRACLE DRAWING, CHILDREN'S MIRACLE NETWORK YEAR LONG FUNDRAISING, STOMP OUT CANCER, MVHS GOLF TOURNAMENT AND EMPLOYEE GIVING.

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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 $7,092,293
Program Service Revenue $0
Investment Income $1,305,057
Other Revenue $0
TOTAL REVENUE $8,397,350

Expense Breakdown

Grants Paid $20,045,935
Salaries & Benefits $613,722
Fundraising Expenses $189,639
Program Expenses $20,288,444
Other Expenses $440,448
TOTAL EXPENSES $21,100,105

Year-over-Year Comparison

2023 2022 Change
Revenue $8,397,350 $6,007,207 +0.4%
Expenses $21,100,105 $3,315,670 +5.4%
Net Income $-12,702,755 $2,691,537 -5.7%
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

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Governance

Voting Members
11
Independent Members
9
Employees
N/A
Volunteers
9

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
8
$1,742,684
Total Directors
5
$0
Key Employees
1
$183,861
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Darlene Stromstad President CEO 1
Officer
$0 $25,003 $1,069,357
Lou Aiello Senior VP CFO 1
Officer
$0 $34,699 $673,327
Steve Winesett Chief Philanthropy Officer 50
Key Emp
$0 $1,392 $183,861
John Hobika Jr Director/Vice Pres 1
Officer Director
$0 $0 $0
Jim Friedel Director 1
Director
$0 $0 $0
Joseph Latella Director 1
Director
$0 $0 $0
Sam F Berardino III Director/Treasurer as of 11/2023 1
Officer Director
$0 $0 $0
Blair Jones Vice president/Director 1
Officer Director
$0 $0 $0
David Manzelmann President 1
Officer
$0 $0 $0
Stephen Surace Treasurer through 10.2023 1
Officer
$0 $0 $0
Valerie Brown Secretary 1
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 $8,397,350 $21,100,105 $54,731,808 $-12,702,755
2022 $6,007,207 $3,315,670 $48,072,485 $2,691,537
2021 $35,282,555 $2,112,531 $51,368,607 $33,170,024
2020 $5,304,775 $1,405,309 $43,530,252 $3,899,466
2019 $8,618,878 $1,940,117 $13,953,022 $6,678,761
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