Foundation for Morristown Medical Center (EIN 223392808) - Form 990 Financial Analysis & Trantor Score

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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

1995

Legal Domicile

Principal Officer

Michael Walter

Phone

9735932400

Tax Period

2023-01-01 to 2023-12-31

Foundation for Morristown Medical Center, founded in 1995, is a mid-sized nonprofit in the Health Care sector that reported $28.6M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $7.3M, a strong 26% operating margin.

Mission

The Foundation for Morristown Medical Center is a not-for-profit fundraising organization which solicits funds in its general appeal to support both Morristown Medical Center, which is a division of AHS Hospital Corporation, and the community as the Foundation's Board may deem appropriate.

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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 $24,023,782

Program Service Revenue $0

Investment Income $4,610,967

Other Revenue $-34,309

TOTAL REVENUE $28,600,440

Expense Breakdown

Grants Paid $8,094,472

Salaries & Benefits $8,386,877

Fundraising Expenses $3,082,123

Program Expenses $15,843,692

Other Expenses $4,459,938

TOTAL EXPENSES $21,294,598

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,600,440	$32,154,791	-0.1%
Expenses	$21,294,598	$13,238,552	+0.6%
Net Income	$7,305,842	$18,916,239	-0.6%

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

150

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

$11,098,858

Total Directors

$5,405,982

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Rooke Jr	Trustee	2.00	Director	$0	$0	$0
Anthony A Lombardo	Trustee	2.00	Director	$0	$0	$0
Shawn Bennan	Trustee	2.00	Director	$0	$0	$0
Brenda Matti-Orozco MD FACP	Trustee	2.00	Director	$0	$30,899	$481,139
Kelly Frank	Trustee-Treasurer	2.00	Officer Director	$0	$0	$0
Kathy Christie	Trustee	2.00	Director	$0	$0	$0
Chirag Patel	Trustee	2.00	Director	$0	$0	$0
Christine Gilfillan	Trustee	2.00	Director	$0	$0	$0
David Taylor MD	Trustee	2.00	Director	$0	$0	$0
Eric Whitman MD	Trustee	2.00	Director	$0	$50,002	$1,120,541
Robert Coyne	Trustee	2.00	Director	$0	$30,947	$939,362
Glenn Yarnis	Trustee	2.00	Director	$0	$0	$0
Branee Fetherman	Trustee	2.00	Director	$0	$41,143	$465,534
Meghan Lyon	Trustee	2.00	Director	$0	$0	$0
J Peter Simon	Trustee	2.00	Director	$0	$0	$0
John Jack Burke III	Trustee	2.00	Director	$0	$0	$0
Monique Nelson	Trustee	2.00	Director	$0	$0	$0
Juliet Patsalos-Fox	Trustee	2.00	Director	$0	$0	$0
Carl Goldberg	Trustee	2.00	Director	$0	$0	$0
Kelly Sturman	Trustee	2.00	Director	$0	$0	$0
Keerti Sharma MD	Trustee	2.00	Director	$0	$26,902	$367,831
Keith Richardson	Trustee	2.00	Director	$0	$0	$0
Srinivas V Maddali	Trustee	2.00	Director	$0	$0	$0
Lori Ingber PHD	Trustee-Secretary	2.00	Officer Director	$0	$0	$0
Marc Adee	Trustee-Vice Chairman	2.00	Officer Director	$0	$0	$0
John O'Grady MD	Trustee	2.00	Director	$0	$0	$0
Daniel Wiener	Trustee	2.00	Director	$0	$0	$0
Mary Courtemanche	Trustee	2.00	Director	$0	$0	$0
Patricia O'Keefe	SVP, CNE/Pres. MMC	2.00	Officer Director	$0	$250,125	$2,031,575
Richard P Goryeb	Trustee	2.00	Director	$0	$0	$0
Robert Tafaro - Chairman	Trustee	2.00	Officer Director	$0	$0	$0
Thomas P Mac Mahon	Trustee	2.00	Director	$0	$0	$0
W Rodman Ryan	Trustee	2.00	Director	$0	$0	$0
Walter Lewis MD	Trustee	2.00	Director	$0	$0	$0
William D Bruen Jr	Trustee	2.00	Director	$0	$0	$0
Kathleen Ross	Trustee	2.00	Director	$0	$0	$0
Deborah Hanson	Trustee	2.00	Director	$0	$0	$0
Cynthia W O'Donnell	Director of Gift Planning	55.00	Officer	$0	$39,058	$267,723
Michael Walter	SVP-Chief Financial Office	2.00	Officer	$0	$137,577	$1,108,761
Jennifer Smith	Chief Development Offier	55.00	Officer	$0	$33,581	$529,330
Kevin Lenahan	EVP-Chief Business & Strat	2.00	Officer	$0	$406,954	$7,161,469

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	$28,600,440	$21,294,598	$200,857,010	$7,305,842
2022	$32,154,791	$13,238,552	$173,976,621	$18,916,239
2021	$31,511,180	$11,731,974	$194,034,598	$19,779,206
2020	$26,671,281	$12,256,875	$172,014,542	$14,414,406
2019	$28,655,949	$13,242,303	$160,123,203	$15,413,646
2018	$22,800,915	$14,239,376	$144,161,623	$8,561,539

Foundation for Morristown Medical Center