The Summit Medical Group Foundation Inc

EIN: 463355413 501(c)(3) Health Care

NEW PROVIDENCE, NJ

Total Revenue
$7,771,686
Total Expenses
$2,561,270
Total Assets
$9,171,015
Net Assets
$8,795,839
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
NJ
Principal Officer
JOE FINOCCHIARO
Phone
9082778788
Tax Period
2023-01-01 to 2023-12-31

The Summit Medical Group Foundation Inc, founded in 2013, is a community nonprofit in the Health Care sector that reported $7.8M in total revenue in fiscal year 2023. Revenue surged 363% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.2M, a strong 67% operating margin.

Mission

IMPROVE ACCESS TO HEALTHCARE FOR UNDERSERVED INDIVIDUALS IN OUR COMMUNITY AND HELP EDUCATE AND INSPIRE OUR CURRENT AND FUTURE HEALTHCARE LEADERS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,054,707
Program Service Revenue $0
Investment Income $197,795
Other Revenue $519,184
TOTAL REVENUE $7,771,686

Expense Breakdown

Grants Paid $278,117
Salaries & Benefits $0
Fundraising Expenses $305,698
Program Expenses $2,042,975
Other Expenses $2,283,153
TOTAL EXPENSES $2,561,270

Year-over-Year Comparison

2023 2022 Change
Revenue $7,771,686 $1,678,529 +3.6%
Expenses $2,561,270 $2,609,008 0.0%
Net Income $5,210,416 $-930,479 -6.6%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
500

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
5
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REBECCA LEVY ESQ PRESIDENT - TRUSTEE 5.0
Officer Director
$0 $0 $0
JEFFREY LE BENGER MD CHAIRMAN - TRUSTEE 5.0
Officer Director
$0 $0 $0
MARNIE CAMBRIA DARDANELLO MD SECRETARY - TRUSTEE 5.0
Officer Director
$0 $0 $0
HARI NADIMINTI MD TREASURER - TRUSTEE 5.0
Officer Director
$0 $0 $0
SONDRA BARRISON TRUSTEE 1.0
Director
$0 $0 $0
HOWARD BLAUSTEIN MD TRUSTEE 1.0
Director
$0 $0 $0
PETER HOGLUND CFP AIF TRUSTEE 1.0
Director
$0 $0 $0
JOSEPH LEMOND ESQ TRUSTEE 1.0
Director
$0 $0 $0
KATHERINE LIU TRUSTEE 1.0
Director
$0 $0 $0
GENGHIS NIVER MD TRUSTEE 1.0
Director
$0 $0 $0
CHRISTOPHER RUSSO MD TRUSTEE 1.0
Director
$0 $0 $0
JOSEPH FINOCCHIARO EXECUTIVE DIRECTOR 40.0
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 $7,771,686 $2,561,270 $9,171,015 $5,210,416
2022 $1,678,529 $2,609,008 $4,454,227 $-930,479
2021 $1,657,212 $1,764,156 $5,083,661 $-106,944
2020 $1,747,118 $1,492,947 $4,601,016 $254,171
2019 $3,672,968 $2,048,080 $2,796,021 $1,624,888
2018 $1,786,635 $1,931,441 $682,549 $-144,806
Explore More Nonprofits
→Top 100 Nonprofits in New Jersey →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare The Summit Medical Group Foundation Inc with other nonprofits in New Jersey and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.