Monmouth Medical Center Foundation Inc

Analysis

Monmouth Medical Center Foundation Inc is a registered charity in United States, based in Oceanport, NJ. It received its IRS tax-exemption ruling in October 1986, 40 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Monmouth Medical Center Foundation Inc reported income of $46.4m and spending of $7.3m, leaving 84% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $9.7m to $46.4m (+377%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 264%. Over the whole period it spent 52% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Monmouth Medical Center Foundation Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Crisp Shared Services Inc ($46.4m), Pace Iowa ($46.4m) and Smyth County Community Hospital ($46.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.2% of the total. It paid $466k in professional fundraising fees. At year end it held assets of $89.4m against liabilities of $298k, net assets of $89.1m.