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Nfmmc Foundation FY2022 filing

Tax-deductible

Niagara Falls, NY501(c)(3)Health Care EIN 22-2877349Revenue $787K in FY2022

On file with the IRSnfmmc.org621 10th St, 14301-1813 · Niagara Falls, NYTax-exempt since Oct 1989Publicly supported charity — 170(b)(1)(A)(vi)

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Asset maintenance and fundraising

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $349K a year · 55% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
9 mo
of spending, in cash
Plus $1.3M in investments, Pt X · Ln 11–13
Looks good: 9.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$111K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 18 voting members
Looks good: 14 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$787K
+189% vs prior year
Spent
$447K
To programs
0%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$787K
FY2022▲ +189%
Tap a bar for its year
Revenue by fiscal year
FY2020$814K
FY2021$273K
FY2022$787K
FY2023$759K
FY2024$526K
Expenses
$447K
FY2022▲ +35%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$331K
FY2022$447K
FY2023$1.2M
FY2024$910K
Net assets
$2.1M
FY2022▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$2.1M
FY2022$2.1M
FY2023$1.7M
FY2024$1.5M

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 26% · $117K Fundraising 74% · $331K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
Joseph Ruffolo
President and CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Sheila Kee
EVP Chief Operating Officer
$0Pt VII · Sec A
Richard Braun
EVP Chief Financial Officer
$0Pt VII · Sec A
Vijay Bojedla MD
VP Chief Medical Officer
$0Pt VII · Sec A
Mark Wright
Former VP CFO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Nfmmc Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Maintains assets and raises funds to support its mission.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

The foundation administered contributions received for the use of the niagara falls memorial medical center which is a related tax exempt entity.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Laborers International Union of North AmericaFY2024$7K
Total grants receivedfrom 1 funder$7K
Grants paid · 5 grants · $3.4M · 2020–2024
Niagara Falls Memorial Medical CenterNY · FY2024$854,159
Niagara Falls Memorial Medical CenterNY · FY2023$641,205
Schoellkopf Health CenterNY · FY2023$199,625
Niagara Falls Memorial Medical CenterNY · FY2021$150,000
Niagara Falls Memorial Medical CenterNY · FY2020$1,601,464

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$787K
Ln 12
Other incomeLn 4–11$467K
Gifts and grantsLn 1h$299K
Investment incomeLn 3$21K
Money outPt IX
$447K
Ln 25
Managementcol C$117K
Fundraisingcol D$331K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$352K
Total assetsLn 16$2.2M
LiabilitiesLn 26$111K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$299K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$21K
Other incomeLn 4–11$467K
Total revenueLn 12$787K
Assets in detailPt X, end of year
CashLn 1$352K
Cash and savings togetherLn 1–2$352K
InvestmentsLn 11–13$1.3M
Total assetsLn 16$2.2M
LiabilitiesLn 26$111K
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 59
VolunteersI 61
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$205K$352K
InvestmentsLn 11–13$2.5M$1.3M
Total assetsLn 16$2.8M$2.2M
LiabilitiesLn 26$684K$111K
Net assetsLn 32$2.1M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$109K$109K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$19K$19K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$579$579
Other fees for servicesLn 11g$40K$40K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$597$597
Other expenses (24a–d)Ln 24$258K$0$117K$141K
Total functional expensesLn 25$447K$0$117K$331K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $526K$910K−$384K$1.5M 990 PDF
FY2023 $759K$1.2M−$463K$1.7M 990 PDF
FY2022 Viewing $787K$447K$340K$2.1M 990 PDF
FY2021 $273K$331K−$59K$2.1M 990 PDF
FY2020 $814K$2.0M−$1.2M$1.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $787,239 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $157,636$298,855
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $26,335$21,392
I-11 Other revenuePrior year $88,660$466,992
I-12 Total revenuePrior year $272,631$787,239
I-13 Grants and similar amounts paidPrior year $150,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $153,094$138,967
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $28,143$308,323
I-18 Total expensesPrior year $331,237$447,290
I-19 Revenue less expensesPrior year −$58,606$339,949
Part VI · Governance 14 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $787,239 across 12 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$298,855
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$298,855
VIII-3 Investment incomeRelated to mission $21,392 · Unrelated business $0 · Excluded from tax $0$21,392
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $466,992$466,992
VIII-12 Total revenueRelated to mission $21,392 · Unrelated business $0 · Excluded from tax $466,992$787,239
Part IX · Statement of functional expenses $447,290 across 9 lines filed
IX-7 Other salaries and wagesFundraising $109,182$109,182
IX-8 Pension plan contributionsFundraising $1,189$1,189
IX-9 Other employee benefitsFundraising $18,706$18,706
IX-10 Payroll taxesFundraising $9,890$9,890
IX-11a Management feesFundraising $579$579
IX-11g Other fees for servicesFundraising $40,075$40,075
IX-12 Advertising and promotionFundraising $9,326$9,326
IX-13 Office expensesFundraising $597$597
IX-24 Other expenses (24a–d)Programs $0 · Management $116,591 · Fundraising $141,155$257,746
IX-25 Total functional expensesPrograms $0 · Management $116,591 · Fundraising $330,699$447,290
Part X · Balance sheet $2,166,201 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $204,923$352,121
X-3 Pledges and grants receivableStart of year $79,353$471,129
X-9 Prepaid expenses and deferred charges$6,389
X-11 Publicly traded securitiesStart of year $2,495,384$1,336,562
X-16 Total assetsStart of year $2,779,660$2,166,201
X-17 Accounts payable and accrued expensesStart of year $13,455$17,641
X-19 Deferred revenueStart of year $176,064$93,384
X-26 Total liabilitiesStart of year $684,220$111,025
X-27 Net assets without donor restrictionsStart of year −$246,656−$660,152
X-28 Net assets with donor restrictionsStart of year $2,342,096$2,715,328
X-32 Total net assets or fund balancesStart of year $2,095,440$2,055,176
X-33 Total liabilities and net assetsStart of year $2,779,660$2,166,201
Part XI · Reconciliation of net assets $2,055,176 net assets at year end
XI-1 Total revenue$787,239
XI-2 Total expenses$447,290
XI-3 Revenue less expenses$339,949
XI-4 Net assets at start of year$2,095,440
XI-5 Net unrealized gains (losses) on investments−$380,213
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,055,176

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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