THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER INC

EIN: 571138956 501(c)(3) Health Care

STATE COLLEGE, PA

Total Revenue
$11,238,335
Total Expenses
$5,447,064
Total Assets
$33,011,417
Net Assets
$32,711,737
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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
PA
Principal Officer
KATHLEEN RHINE
Phone
8142317000
Tax Period
2024-07-01 to 2025-06-30

THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER INC, founded in 2003, is a mid-sized nonprofit in the Health Care sector that reported $11.2M in total revenue in fiscal year 2024. Revenue surged 47% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.8M, a strong 52% operating margin.

Mission

TO PROVIDE FUNDRAISING AND OTHER SUPPORT TO FURTHER THE CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES OF ITS CONTROLLING ENTITY, MOUNT NITTANY HEALTH SYSTEM.

Program Service Accomplishments

Program 1
Expenses: $4,058,285

THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. IS AN AFFILIATE OF MOUNT NITTANY HEALTH SYSTEM (HEALTH SYSTEM) WHICH INCLUDES AN ACUTE CARE HOSPITAL WITH 260 BEDS (MOUNT NITTANY MEDICAL...

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THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. IS AN AFFILIATE OF MOUNT NITTANY HEALTH SYSTEM (HEALTH SYSTEM) WHICH INCLUDES AN ACUTE CARE HOSPITAL WITH 260 BEDS (MOUNT NITTANY MEDICAL CENTER), MOUNT NITTANY MEDICAL CENTER HEALTH SERVICES, INC., MOUNT NITTANY PHYSICIAN GROUP, CENTRE COUNTY CHILDREN'S ADVOCACY CENTER, AND THE FOUNDATION FOR MOUNT NITTANY MEDICAL CENTER, INC. THE MISSION IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR PEOPLE OF OUR REGION BY SUPPORTING THE ADVANCEMENT OF HEALTHCARE AT MOUNT NITTANY HEALTH.CONTINUED ON SCHEDULE O.MOUNT NITTANY HEALTH FOUNDATION RAISED $5,808,533 IN CASH GIFTS. ADDITIONALLY, $7,189,500 IN COMMITMENTS - COMPRISED OF MULTI-YEAR PLEDGES AND PLANNED GIFTS - WERE DOCUMENTED IN FY 2025.IN FY 2025, $262,089 WAS RECEIVED IN SUPPORT OF THE 34TH ANNUAL GOLF CLASSIC, HELD ON SEPTEMBER 20, 2024. THE EVENT RAISED A TOTAL OF $458,536, WITH PROCEEDS BENEFITING THE NEW MOUNT NITTANY MEDICAL CENTER PATIENT TOWER, SLATED TO OPEN IN 2026. DURING FY 2025, $15,505 WAS RECEIVED IN SUPPORT OF THE 35TH ANNUAL GOLF CLASSIC. PROCEEDS FROM THIS EVENT ALSO SUPPORT MOUNT NITTANY HEALTH'S PATIENT TOWER.IN FY 2025, $3,000 WAS RECEIVED IN SUPPORT OF THE 75TH ANNUAL CHARITY BALL, HELD ON FEBRUARY 10, 2024, AT THE PENN STATER HOTEL AND CONFERENCE CENTER. THE EVENT RAISED A TOTAL OF $507,750, WITH PROCEEDS BENEFITING MOUNT NITTANY HEALTH'S PATIENT TOWER.DURING FY 2025, $1,000 WAS RECEIVED IN SUPPORT OF THE 76TH ANNUAL CHARITY BALL, HELD ON FEBRUARY 14, 2026. PROCEEDS FROM THIS EVENT SUPPORT MOUNT NITTANY HEALTH'S PATIENT TOWER.PLEDGE PAYMENTS COLLECTED FROM PREVIOUS PLEDGES: CHILDREN'S ADVOCACY CENTER - $352,500 PATIENT TOWER - $195,000 RADIATION ONCOLOGY - $46,681 MOUNT NITTANY HEALTH TOFTREES - $20,000 GREATEST NEED - $10,000 BEHAVIORAL HEALTH UNIT - $6,000 NURSING EDUCATION - $6,000 CARDIOVASCULAR PAVILION - $3,500PROGRAMMATIC FUNDINGCHILDREN'S ADVOCACY CENTERSUPPORT FOR THE CHILDREN'S ADVOCACY CENTER TOTALED $115,963 IN CASH GIFTS, REPRESENTING CONTRIBUTIONS FROM BOTH SOLICITED DONORS AND GENERAL COMMUNITY SUPPORT. IN ADDITION, EIGHT MULTI-YEAR PLEDGES TOTALING $101,000 WERE DOCUMENTED IN FY 2025.MOUNT NITTANY HEALTH TOFTREESONE PLANNED GIFT TOTALING $250,000 WAS DOCUMENTED IN SUPPORT OF MOUNT NITTANY HEALTH TOFTREES IN FY 2025. MOUNT NITTANY HEALTH PATIENT TOWER SUPPORT FOR THE MOUNT NITTANY HEALTH PATIENT TOWER INCLUDED $1,057,957 IN CASH GIFTS FROM COMMITTED DONORS. IN ADDITION, THIRTEEN MULTI-YEAR PLEDGES AND ONE PLANNED GIFT, TOTALING $1,589,000, WERE DOCUMENTED IN FY 2025.GIVING CATEGORIESANNUAL GIVINGANNUAL GIVING EFFORTSINCLUDING END-OF-YEAR, DOCTORS' DAY, NURSES WEEK, AND CHILDREN'S ADVOCACY CENTER APPEALSRAISED $97,031 IN SUPPORT OF VARIOUS PROGRAMS AND SERVICES AT MOUNT NITTANY HEALTH. FUNDING PRIMARILY SUPPORTED UNRESTRICTED NEEDS, THE PATIENT TOWER FUND, THE BENKOVIC MATCHING FUND FOR COMMUNITY INVESTMENT, AND THE PATIENT SERVICES AND EXPERIENCE FUND.GRATEFUL PATIENT PROGRAMTHE GRATEFUL PATIENT PROGRAM RAISED $390 FROM PATIENTS AND THEIR FAMILIES IN SUPPORT OF VARIOUS PROGRAMS AND SERVICES AT MOUNT NITTANY HEALTH.MEMORIAL GIFTSMEMORIAL GIFTS TOTALING $9,730 WERE RECEIVED IN HONOR OF INDIVIDUALS REMEMBERED BY MEMBERS OF THE COMMUNITY. OUTSIDE EVENTSTHE FOUNDATION BENEFITED FROM SEVERAL COMMUNITY-LED FUNDRAISING EFFORTS IN FY 2025: CENTRE GIVES: $4,344 WAS RAISED IN SUPPORT OF THE CHILDREN'S ADVOCACY CENTER FUND. YMCA OF CENTRE COUNTY: $3,688 WAS RAISED IN SUPPORT OF THE CANCER CARE FUND THROUGH THE DINK FROM PINK FUNDRAISER. CENTRE COUNTY COURT JURY PROGRAM: $732 WAS RAISED IN SUPPORT OF THE CHILDREN'S ADVOCACY CENTER FUND. BRUSH MOUNTAIN SHOE: $569 WAS RAISED IN SUPPORT OF THE EMPLOYEE ASSISTANCE FUND THROUGH A TWO-DAY FUNDRAISING EVENT. DOWNTOWN JOE COFFEE: $250 WAS RAISED IN SUPPORT OF THE CHILDREN'S ADVOCACY CENTER FUND.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,399,292
Program Service Revenue $0
Investment Income $-110,481
Other Revenue $-50,476
TOTAL REVENUE $11,238,335

Expense Breakdown

Grants Paid $4,058,285
Salaries & Benefits $915,650
Fundraising Expenses $1,145,083
Program Expenses $4,058,285
Other Expenses $473,129
TOTAL EXPENSES $5,447,064

Year-over-Year Comparison

2024 2023 Change
Revenue $11,238,335 $7,629,084 +0.5%
Expenses $5,447,064 $4,930,849 +0.1%
Net Income $5,791,271 $2,698,235 +1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
8
Independent Members
7
Employees
8
Volunteers
76

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
7
$1,983,811
Total Directors
8
$805,047
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM P HAYES CHAIR 2.00
Officer Director
$0 $0 $0
KAY KUSTANBAUTER VICE CHAIR 2.00
Officer Director
$0 $0 $0
KASANDRA A BOTTI DO SECRETARY 2.00
Officer Director
$0 $0 $0
THOMAS J TARICANI TREASURER 2.00
Officer Director
$0 $0 $0
KATHLEEN RHINE CEO/OFFICER/DIRECTOR 2.00
Officer Director
$0 $201,204 $805,047
BETH KALENAK DIRECTOR 2.00
Director
$0 $0 $0
TED OYLER DIRECTOR 2.00
Director
$0 $0 $0
THEODORE ZIFF MD DIRECTOR 2.00
Director
$0 $0 $0
ADRIENNE KRASOWITZ EXECUTIVE DIRECTOR 40.00
Officer
$230,765 $14,074 $244,839
BRYAN ROACH EXECUTIVE VP/CFO 2.00
Officer
$0 $174,912 $933,925
LANCE ROSE FORMER CEO/OFFICER/DIRECTO 0.00
$0 $0 $14,721
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
2025 $11,238,335 $5,447,064 $33,011,417 $5,791,271
2024 $7,629,084 $4,930,849 $24,256,882 $2,698,235
2023 $6,254,654 $3,874,054 $19,480,920 $2,380,600
2022 $6,079,084 $2,836,639 $15,006,858 $3,242,445
2021 $2,657,809 $4,142,349 $18,337,133 $-1,484,540
2020 $4,328,919 $4,440,236 $17,756,624 $-111,317
2019 $4,474,617 $799,652 $17,779,085 $3,674,965
2018 $3,461,989 $783,004 $13,181,252 $2,678,985
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