Nfmmc Foundation EIN 22-2877349

Nfmmc Foundation

EIN  22-2877349 Public charity (501(c)(3)) Niagara Falls, NY
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Maintains assets and raises funds to support its mission.
Leadership
Joseph a Ruffolo · President & CEO
Money in and out
$526K revenue, $910K expenses
Bottom line
94% program efficiency

Maintains assets and raises funds to support its mission. For fiscal year 2024 it reported $526K in revenue, $910K in expenses, and $1.5M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$526K
Pt VIII · Ln 12
Total expenses
$910K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$384K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06
Program efficiency
94%
of spending reaches programs▲ +37% vs prior filing year
Operating runway
50.2mo
months of highly liquid reserves at operating expense rate▲ +163% vs prior filing year
Surplus margin
-73%
revenue over expenses, this year▼ -20% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$526K
FY2024▼ -31%
Expenses
$910K
FY2024▼ -26%
Total assets
$4.1M
FY2024▲ +73%
Total liabilities
$2.6M
FY2024▲ +300%
Total revenue
$526K
Pt VIII · Ln 12
Total expenses
$910K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$384K
Total assetsPt X · Ln 16$4.1M
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 416
Mission & Programs · Part III

Where the work happens

1 program service account for $855K of program spending, described in the organization's own filed words · FY2024.
01

The foundation administered contributions received for the use of the niagara falls memorial medical center and schoellkopf health center, inc., which are related tax exempt entities.

$855Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNfmmc Foundation
EINHdr · item D22-2877349
Principal addressHdr · item CNiagara Falls, NY
WebsiteHdr · item Jwww.nfmmc.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E91I)
Ruling yearIRS BMFOct 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a19
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director and Physician
$0Pt VII · Sec A
$0Pt VII · Sec A
See Nfmmc Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$638K · 121%
Investment income$54K · 10%
Contributions & grants121%$638K
Investment income10%$54K
— government grantsLn 1e$50K
Total revenueLn 12$526K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$855K
Management & general6%$54K
Total functional expensesLn 25$910K

Balance Sheet

Part X · end of year
CashLn 1$558K
Total assetsLn 16$4.1M
Total liabilitiesLn 26$2.6M
Total net assetsLn 32$1.5M
Months of cash on handcomputed7.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.8M · Operating expenses/yr $910K
50.2 months
Where the money goes
Program services
Program services $855K · Total expenses $910K
94%
Management & General
Management & general $54K · Total expenses $910K
6%
Fundraising
Fundraising $0 · Total expenses $910K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $148K · Solicited contributions (3-yr avg) $562K
$0.26 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $638K · Total revenue $526K
121%
Government reliance
Government grants $50K · Total revenue $526K
9%
Earned-income share
Program service revenue $0 · Total revenue $526K
0%
Investment reliance
Investment income $54K · Total revenue $526K
+10%
Program self-sufficiency
Program service revenue $0 · Total expenses $910K
0%
Growth & trend
Revenue growth (YoY)
This year $526K · Prior year $759K
-31%
Revenue CAGR
FY2020 $814K · FY2024 $526K
-10%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $526K · Expenses $910K
-73%
Liabilities-to-Assets
Total liabilities — · Total assets $4.1M
Net-asset ratio
Net assets $1.5M · Total assets $4.1M
37%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $3.2M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $4.1M
79%
People & payroll
Highest Reported Total Compensation
Individual Joseph a Ruffolo · Reported title PRESIDENT & CEO · Highest reported compensation $0 · Total expenses $910K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $910K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Fundraising cost ratio 0%
Revenue growth -31%
Investment management fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$7K
Grants paid · 5 grants · $3.4M · 2020–2024

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$526K revenue · viewing · ⤓ 990 PDF
FY2023$759K revenue · ⤓ 990 PDF
FY2022$787K revenue · ⤓ 990 PDF
FY2021$273K revenue · ⤓ 990 PDF
FY2020$814K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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