Edward J Ill Excellence in Medicine Foundation Inc

Nonprofit profile at a glance

EIN
208498347
IRS 990 coverage
2020–2023
Forms available
Form 990 2023
Location
Princeton, NJ, USA
Phone
9087316610
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$252,405
Expenses
$728,900
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

People named in this filing

  • Paul J Hirsch MD (Trustee Chairman)
  • Patricia A Costante (Trustee Vice Chairman)
  • Christopher S Bateman (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote and encourage excellence in medical care and healthcare. To recognize excellence in our healthcare system and to provide significant scholarships to students who represent these values. The Foundation seeks to promote excellence by providing scholarships to NJ residents who are medical, dental, pharmaceutical and physician assistant students at NJ schools. The students selected have demonstrated excellence in scholarship, research, leadership and civic engagement and intend to practice in NJ.

What it reported doing in 2023

Through the Rutgers New Jersey Medical School, Rutgers Robert Wood Johnson Medical School, Rutgers School of Dental Medicine, Seton Hall University School of Health and Medical Sciences, Cooper Medical School of Rowan University, Rowan University School of Osteopathic Medicine, Rutgers School of Health Professions, Hackensack Meridian School of Medicine and Rutgers Ernest Mario School of Pharmacy, 9 scholarships were awarded to students who demonstrated excellence in scholarship, research, leadership and civic engagement.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 85
  • Accountability: 70
  • Sustainability: 9
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 66.7%; rating input score 67
  • Fundraising efficiency: $1.83 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.1%; rating input score 97; 58th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -188.8%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 40.6% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 13.8% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: -45.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 66.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $486K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 41 of 43 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2023
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.