Foundation for Morristown Medical Center
Nonprofit profile at a glance
- EIN
- 223392808
- IRS 990 coverage
- 2012–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Morristown, NJ, US
- Phone
- 973-593-2400
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $41,654,876
- Expenses
- $28,007,443
- Assets
- $228,398,929
- Liabilities
- $8,919,082
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
41 people listed
Highest reported compensation
- Kevin Lenahan (EVP-Chief Business & Strat): $3,385,858 total reported compensation
- Patricia O'Keefe (SVP, CNE/Pres. MMC): $2,572,152 total reported compensation
- Michael Walter (SVP-Chief Financial Office): $1,872,440 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Inspiring community philanthropy that advances exceptional health care for every patient, every day.
What it reported doing in 2024
The Foundation for Morristown Medical Center (F4MMC) is a standalone foundation, which is a not-for-profit fundraising organization that solicits funds in its general appeal for the benefit and support of Atlantic Health System, Inc. and AHS Hospital Corporation (the Corporation), and all subsidiaries thereof. Morristown Medical Center is the principal recipient of the fundraising carried out by F4MMC.
Operating model
- Revenue model
- Donor-supported. 80% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 73
- Accountability: 91
- Sustainability: 85
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 63.2%; rating input score 63
- Program expense ratio: 79.1%; rating input score 79
- Fundraising efficiency: $9.5 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 83.8%; rating input score 84; 18th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 32.8%; rating input score 89; 89th percentile among comparable filings
- Total-asset coverage ratio: 8.15; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 85; 85th percentile among comparable filings
- Officer compensation ratio: 4.6%; rating input score 54; 54th percentile among comparable filings
Growth
- Program expense growth: 10.6% per year; rating input score 100; 73rd percentile among comparable filings
- Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
- Asset growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 63.2% of revenue deployed · 79.1% of spending went to programs
- Governance: 31 of 37 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $22.2M in reported program spending
- Leadership: top reported pay $3.4M · 41 people listed · 0 of 6 pay-setting controls reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 59 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 54/100.