Adirondack Medical Center Foundation
Better Health, Better Lives
Adirondack Medical Center Foundation
EIN: 16-1528554
as of November 2024
as of November 11, 2024
Programs and results
What we aim to solve
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Hospital healthcare
Adirondack Health is the only full-service hospital operating within the Adirondack Park. It offers a wide spectrum of health services including emergency care, surgical services, wellness and prevention, dental care and medical fitness to year-round residents, 2nd homeowners, visiting athletes, and visitors.
Patient Room Renovations Campaign
Capital campaign to raise funds in support of $12 million renovation project to the two medical/surgical floors including new windows, total upgrade of HVAC systems, conversion to all private rooms, new bathrooms, enhanced telemedicine and communication systems, and totally remodeled patient rooms.
Where we work
Affiliations & memberships
US Olympic Committee National Medical Network 2015
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve
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Which of the following feedback practices does your organization routinely carry out?
We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback
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What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2022 info
1201.29
Months of cash in 2022 info
4.7
Fringe rate in 2022 info
15%
Funding sources info
Assets & liabilities info
Financial data
Adirondack Medical Center Foundation
Revenue & expensesFiscal Year: Jan 01 - Dec 31
Adirondack Medical Center Foundation
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Adirondack Medical Center Foundation’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Unrestricted surplus (deficit) before depreciation | -$8,681,547 | $7,192,665 | $1,757,285 | $693,012 | -$2,503,062 |
As % of expenses | -109.3% | 213.9% | 116.3% | 24.7% | -215.5% |
Unrestricted surplus (deficit) after depreciation | -$8,681,547 | $7,192,665 | $1,757,285 | $693,012 | -$2,503,062 |
As % of expenses | -109.3% | 213.9% | 116.3% | 24.7% | -215.5% |
Revenue composition info | |||||
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Total revenue (unrestricted & restricted) | $3,778,164 | $1,167,386 | $2,150,071 | $5,215,601 | $3,691,701 |
Total revenue, % change over prior year | 44.7% | -69.1% | 84.2% | 142.6% | -29.2% |
Program services revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 3.8% | 1.8% | 0.9% | 0.4% | 6.7% |
Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
All other grants and contributions | 25.8% | 45.4% | 96.2% | 77.3% | 49.8% |
Other revenue | 70.4% | 52.8% | 2.9% | 22.3% | 43.4% |
Expense composition info | |||||
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Total expenses before depreciation | $7,942,629 | $3,363,377 | $1,511,315 | $2,800,848 | $1,161,388 |
Total expenses, % change over prior year | 509.9% | -57.7% | -55.1% | 85.3% | -58.5% |
Personnel | 3.6% | 7.9% | 16.4% | 9.8% | 24.4% |
Professional fees | 1.3% | 2.6% | 5.5% | 4.4% | 8.4% |
Occupancy | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Pass-through | 91.2% | 86.5% | 70.4% | 78.1% | 58.5% |
All other expenses | 3.8% | 3.0% | 7.7% | 7.7% | 8.8% |
Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Total expenses (after depreciation) | $7,942,629 | $3,363,377 | $1,511,315 | $2,800,848 | $1,161,388 |
One month of savings | $661,886 | $280,281 | $125,943 | $233,404 | $96,782 |
Debt principal payment | $0 | $0 | $0 | $0 | $0 |
Fixed asset additions | $0 | $0 | $0 | $0 | $0 |
Total full costs (estimated) | $8,604,515 | $3,643,658 | $1,637,258 | $3,034,252 | $1,258,170 |
Capital structure indicators
Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Months of cash | 2.1 | 3.0 | 13.6 | 6.1 | 4.7 |
Months of cash and investments | 23.1 | 57.4 | 143.5 | 85.1 | 201.2 |
Months of estimated liquid unrestricted net assets | 14.0 | 58.8 | 144.8 | 81.1 | 169.7 |
Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Cash | $1,359,852 | $838,401 | $1,712,069 | $1,427,062 | $452,381 |
Investments | $13,942,880 | $15,250,109 | $16,366,221 | $18,442,117 | $19,017,931 |
Receivables | $1,462,876 | $518,255 | $248,032 | $2,290,609 | $1,368,465 |
Gross land, buildings, equipment (LBE) | $0 | $0 | $0 | $0 | $0 |
Accumulated depreciation (as a % of LBE) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Liabilities (as a % of assets) | 0.2% | 0.4% | 0.1% | 0.0% | 0.1% |
Unrestricted net assets | $9,285,293 | $16,477,958 | $18,235,243 | $18,928,255 | $16,425,193 |
Temporarily restricted net assets | $7,401,279 | N/A | N/A | N/A | N/A |
Permanently restricted net assets | $46,115 | N/A | N/A | N/A | N/A |
Total restricted net assets | $7,447,394 | $69,513 | $69,038 | $3,232,609 | $4,396,237 |
Total net assets | $16,732,687 | $16,547,471 | $18,304,281 | $22,160,864 | $20,821,430 |
Key data checks
Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
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Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Principal Officer
Hannah Hanford
1996 to 2008 - Assist. VP Development for the Foundation of CVPH Medical Center
2008 to 2009 - Director of Development for the Virginia Center for the Creative Arts
2010 to present - Director of Development for the Adirondack Health Foundation
Executive Director holds the CFRE credential
Number of employees
Source: IRS Form 990
Adirondack Medical Center Foundation
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
Adirondack Medical Center Foundation
Board of directorsas of 06/08/2023
Board of directors data
Daniel Kelleher
Adirondack Park Agency
Term: 2021 - 2023
Heather Bumsted
Board & Community Volunteer
Edward Bickford
Retired, Finance, State Street Research & Management/Babson Capital Management
Kevin Brady
Principal, Long Run Wealth
Joan Grabe
Retired Nurse, Community Volunteer
Matthew Norfolk, Esq.
Partner, Norfolk Law, PLLC
Robert Beier
Retired, AIG
Daniel Kelleher
Special Assistant Economic Affairs, Adirondack Park Agency
Eve Burns, DO
OB/Gyn
Maggie Ho, DO
Anesthesiologist
Kelly Larkin, MD
Emergency Medicine Physician/President, The Larkin Group
Nina Merrill
Community & Board Volunteer
Erin Perkins
Educator, Keene Central School
Nick Politi
Associate Real Estate Broker, Merrill Thomas
Noelle Short
Superintendent Long Lake Central School District
Edward "Ted" Ughetta, Esq.
Private Equity Attorney, Nixon Peabody, LLP
Peter VanEtten
Manager, Hyde Fuel
Joseph Beck
Raymond James
John Huwiler
Jefferies
Heidi Holderied
Physical Therapist
Thomas Green, MD
Radiologist
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
Disability
We do not display disability information for organizations with fewer than 15 staff.
Equity strategies
Last updated: 02/15/2021GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We ask team members to identify racial disparities in their programs and / or portfolios.
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.