Cole Foundation INC

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Cole Foundation is a non-profit organization dedicated to supporting and enhancing the work of upmc Cole. See schedule o for additional info.

Form 990 Part I, line 1, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-5417308) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2022
latest Form 990-T
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $147K a year · 44% of revenue · last 3 filings
A surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
94%
of spending
94% of spending went to programs.
Pt IX · Ln 25 · col B
4.3 mo
of spending, in cash
Plus $2.3M in investments, Pt X · Ln 11–13
4.3 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
1 funder names it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$366K
16% of total assets
Liabilities are 16% of assets.
Pt X · Ln 26
Independent board members
7
of 10 voting members
7 of 10 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$195K
-72% vs prior year
Spent
$235K
To programs
94%
Net assets
$2.0M
By yearFY2020–FY2022
Revenue
$195K
FY2022▼ -72%
Tap a bar for its year
Revenue by fiscal year
FY2020$124K
FY2021$693K
FY2022$195K
Expenses
$235K
FY2022▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$116K
FY2021$218K
FY2022$235K
Net assets
$2.0M
FY2022▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$2.3M
FY2022$2.0M

From the FY2022 Form 990 (year ending June 2022) · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021. IRS ruling in Jan 1983.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $220K Management & general 6% · $15K

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

Something off? Claim to add context

Who runs it and what they're paid

12 people listed on the 990-T.

Part VII, Section A · reportable compensation
Vice Chair
$0Pt VII · Sec A
Assist Secretary/Treasurer
$0Pt VII · Sec A
Assist Secretary/Treasurer
$0Pt VII · Sec A
Ex Officio
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Cole Foundation INC executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Raises funds through community events and gift shop sales to support and enhance healthcare services at the Charles Cole Memorial Hospital.

Questions for Cole Foundation INC

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1 program · $220K · in their own filed words · FY2021
01

The cole foundation operates the gift shop. Net gift shop profits were approximately $1,000. In addition, the cole foundation holds several special events each year, including the annual golf tournament that raised $28,700, the annual light up a life tree lighting event that raised approximately $16,500, and operation appreciation that…

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 45-5417308) · Dispute this line
$220Kprogram expense

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
Group ReturnFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 5 grants · $188K · 2019–2021
Hendorn INC Cole ManorPA · FY2021$50,000
Hendorn INC Cole ManorPA · FY2020$15,000

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$195K
Gifts and grants$181K
Other income$14K
Investment income$135
Money out
$235K
Programs$220K
Management$15K
Owns and owes
$2.0M
net assets
Cash and savings$84K
Total assets$2.4M
Liabilities$366K
People
12
listed
Paid0
Voting board10
Independent7
2In more detail
Revenue in detail
Gifts and grants$181K
Investment income$135
Other income$14K
Total revenue$195K
Assets in detailEnd of year
Cash and savings together$84K
Total assets$2.4M
Liabilities$366K
Net assets$2.0M
Operations
Employees0
Volunteers9
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $195K$235K−$40K$2.0M 990 PDF
FY2021Filed with the IRS May 16, 2022 $693K$218K$474K$2.3M 990 PDF
FY2020Filed with the IRS Apr 8, 2021 $124K$116K$8K$1.4M 990 PDF

Schedules filed Part IV

G · Fundraising L · Interested persons R · Related orgs

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

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