2021-11-15T14:47:42-06:00 2020-12-31 WithumSmithBrown PC 331 NEWMAN SPRINGS RD STE 125 RED BANK NJ 077016765 990 2020-01-01 463355413 The Summit Medical Group Foundation Inc % JOE FINOCCHIARO SUMM 9082778788 150 FLORAL AVENUE SUITE 103 NEW PROVIDENCE NJ 07974 JOE FINOCCHIARO EXECUTIVE DIRECTOR 9082778788 2021-11-15 true JOE FINOCCHIARO 000000000 MICHAEL A SERLUCO CPA P00960315 7328423113 2021-11-15 3 2020 2022-09-23 18:48:47Z X JOE FINOCCHIARO 150 FLORAL AVENUE SUITE 103 NEW PROVIDENCE NJ 07974 2005188 false X WWW.SH-CARES.ORG X 2013 NJ IMPROVE ACCESS TO HEALTHCARE FOR UNDERSERVED INDIVIDUALS IN OUR COMMUNITY AND HELP EDUCATE AND INSPIRE OUR CURRENT AND FUTURE HEALTHCARE LEADERS. 12 12 3 350 0 0 3652080 1761472 0 0 4975 1836 15913 -16190 3672968 1747118 188866 294477 0 0 127839 0 0 0 172297 1731375 1198470 2048080 1492947 1624888 254171 3650395 4601016 737097 53998 2913298 4547018 X IMPROVE ACCESS TO HEALTHCARE FOR UNDERSERVED INDIVIDUALS IN OUR COMMUNITY AND HELP EDUCATE AND INSPIRE OUR CURRENT AND FUTURE HEALTHCARE LEADERS. false false 1217560 294476 0 EXPENSES INCURRED IN IMPROVING ACCESS TO HEALTHCARE FOR UNDERSERVED INDIVIDUALS IN OUR COMMUNITY AND HELPING EDUCATE AND INSPIRE OUR CURRENT AND FUTURE HEALTHCARE LEADERS. 1217560 true true false false false false false false false true true false true false false true true false false false false false false false true false false false true false false false false false false false false false false false false false false true true true false false true 5 0 true 3 true false false false false false true true false false false false false false X 12 12 false true false false true true false true true false false true true true true false false true false false NJ OR X JOE FINOCCHIARO 9082778788 150 FLORAL AVENUE SUITE 103 NEW PROVIDENCE NJ 07974 X REBECCA LEVY ESQ PRESIDENT - TRUSTEE 5.0 0.0 X X 0 0 0 JEFFREY LE BENGER MD CHAIRMAN - TRUSTEE 5.0 0.0 X X 0 0 0 MARNIE CAMBRIA DARDANELLO MD SECRETARY - TRUSTEE 5.0 0.0 X X 0 0 0 HARI NADIMINTI MD TREASURER - TRUSTEE 5.0 0.0 X X 0 0 0 SONDRA BARRISON TRUSTEE 1.0 0.0 X 0 0 0 HOWARD BLAUSTEIN MD TRUSTEE 1.0 0.0 X 0 0 0 PETER HOGLUND CFP AIF TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH LEMOND ESQ TRUSTEE 1.0 0.0 X 0 0 0 KATHERINE LIU TRUSTEE 1.0 0.0 X 0 0 0 GENGHIS NIVER MD TRUSTEE 1.0 0.0 X 0 0 0 R GREGORY SACHS MD TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM A TANSEY III MD FACC TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH FINOCCHIARO EXECUTIVE DIRECTOR 40.0 0.0 X 0 0 0 0 0 0 0 false false false HAMILTON FARM 1040 POTTERSVILLE ROAD GLADSTONE NJ 07934 EVENT MANAGEMENT 127193 1 287483 220000 1253989 1761472 0 1836 1836 0 0 0 0 0 0 232832 287483 252883 -20051 -20051 0 0 0 9048 5187 3861 3861 0 1747118 -14354 X 47354 47354 247123 247123 0 0 0 0 0 0 0 0 0 0 43991 26395 17596 0 0 0 908516 745712 49408 113396 29179 23432 1459 4288 88074 68210 7817 12047 14371 7185 3593 3593 0 63492 38544 12474 12474 1330 1324 3 3 0 3270 1145 981 1144 0 0 29423 29423 0 FACILITY EXP & FUNDRAISING 5986 16 2 5968 TEMPORARY HELP 5425 4339 543 543 REPAIRS & MAINTENANCE 1034 1034 0 0 OTHER EXPENSES 4379 2719 415 1245 1492947 1217560 103090 172297 X 0 0 564362 1467834 0 0 0 0 0 0 0 0 0 0 1176 5531 0 24655 341706 87300 236267 254406 0 0 0 0 2848590 2848590 0 0 0 0 3650395 4601016 737097 53998 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 737097 53998 X 2064708 3698428 848590 848590 2913298 4547018 3650395 4601016 X 254171 1379549 X X false true X true false X 917008 1258667 1766631 1652080 1761472 7355858 0 0 917008 1258667 1766631 1652080 1761472 7355858 1853911 5501947 3760 3053 9067 4975 1836 22691 0 0 7378549 2760865 0.74567 0.69883 X UNUSUAL GRANT The organization received A CONTRIBUTION: (1) IN THE AMOUNT OF $2,000,000 FROM AN INDIVIDUAL IN 2019 ThIS contribution WAS classified as AN unusual grant and excluded from both the numerator and denominator in the public support percentage calculation. THE contribution IS unusual in nature because, according to Form 990, Schedule A instructions and in accordance with Treasury Regulations 1.509(a)-3(c)(4): - They were attracted because of the publicly supported nature of the organization, - They were unusual and unexpected because of the amounts (no other individuals or foundations contributed any amount similar to these amounts in the five year period), and - They are large enough that they would significantly decrease the organization's public support percentage. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 848950 848950 0 848950 848950 0 0 10000 10000 10000 10000 1.00000 false false 114043 77930 36113 227663 9370 218293 254406 PROGRAM RELATED INVESTMENTS 2000000 F PERPETUAL TRUST 848590 F 2848590 0 0 X 2005188 258070 258070 1747118 1747118 1751017 258070 258070 1492947 1492947 SCHEDULE D, PART V, QUESTION 4 RESTRICTED FUNDS ARE USED TO SUPPORT THE CHARITABLE ACTIVITIES AND PROGRAMS OF THE ORGANIZATION. SCHEDULE D, PART X THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS ARE IN PROGRESS BY AN INDEPENDENT CPA FIRM AND NOT ISSUED AS OF THE DATE OF FILING THIS FORM 990. THE FOLLOWING FOOTNOTE IS INCLUDED IN THE ORGANIZATION'S 2020 AUDITED FINANCIAL STATEMENTS THAT REPORTS THE ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 (ASC 740): THE ORGANIZATION HAS OBTAINED TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE NEW JERSEY CHARITABLE ORGANIZATIONS ACT AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS A PUBLIC CHARITY. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAX IS REQUIRED. THE ORGANIZATION'S ACCOUNTING POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH PROFESSIONAL ACCOUNTING STANDARDS. PURSUANT TO THE GUIDANCE IN THE STANDARDS, THE ORGANIZATION HAS DETERMINED THAT NO UNRECOGNIZED TAX BENEFITS EXIST AS OF DECEMBER 31, 2020 AND DOES NOT EXPECT THIS DETERMINATION TO CHANGE SIGNIFICANTLY OVER THE NEXT 12 MONTHS. ADDITIONALLY, THE ORGANIZATION HAS NOT INCURRED ANY INCOME TAX RELATED PENALTIES FOR THE YEARS ENDED DECEMBER 31, 2020 AND 2019. SHOULD SUCH PENALTIES AND INTEREST BE INCURRED, THE ORGANIZATION'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. SCHEDULE D, PART XI; LINE 2D AMOUNTS INCLUDED ON SCHEDULE D, PART XI, LINE 1 BUT NOT ON FORM 990, PART VIII, LINE 12: - SPECIAL EVENT EXPENSES; $252,883; AND - GIFT SHOP COST OF GOODS SOLD; $5,187. SCHEDULE D, PART XII; LINE 2D AMOUNTS INCLUDED ON SCHEDULE D, PART XII, LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25: - SPECIAL EVENT EXPENSES; $252,883; AND - GIFT SHOP COST OF GOODS SOLD; $5,187. GOLF OUTING 442565 287483 155082 127346 3528 24208 ANNUAL GALA 77750 0 77750 0 11525 86276 0 0 0 0 0 0 0 520315 287483 232832 127346 15053 110484 252883 -20051 true DISASTER RELIEF 250 225959 fmv SCHOLARSHIPS 19 13400 FMV community assistance 29 7764 FMV SCHEDULE I, PART I, QUESTION 2 GRANTS ARE MONITORED BY THE ORGANIZATION'S FINANCE PERSONNEL THROUGH THE UTILIZATION OF COST CENTERS AND OTHER INFORMATION; INCLUDING WRITTEN INFORMATION AND RECEIPTS. CORE FORM, PART VI, SECTION A; QUESTION 3 THE ORGANIZATION DELEGATED CONTROL OVER MANAGEMENT DUTIES OF THE EXECUTIVE DIRECTOR POSITION TO SUMMIT HEALTH MANAGEMENT, LLC, A NEW JERSEY LIMITED LIABILITY COMPANY. JOSEPH FINOCCHIARO WAS COMPENSATED BY SUMMIT HEALTH MANAGEMENT, LLC. AMOUNTS PAID FOR THESE SERVICES TOTALLED $202,269 AND WERE RENDERED AT FAIR MARKET VALUE RATES PURSUANT TO ARM'S LENGTH NEGOTIATIONS. CORE FORM, PART VI, SECTION A; QUESTIONS 6 & 7 SUMMIT MEDICAL GROUP, P.A. IS THE SOLE MEMBER OF THIS ORGANIZATION; HOWEVER, ALL DECISIONS RELATED TO THIS ORGANIZATION ARE DONE SO AT THE BOARD OF TRUSTEE LEVEL. SUMMIT MEDICAL GROUP, P.A. DOES NOT HAVE RIGHTS AND POWERS OVER THIS ORGANIZATION. CORE FORM, PART VI, SECTION B; QUESTION 11 THE ORGANIZATION'S FEDERAL FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS"). THE EXECUTIVE DIRECTOR AND TREASURER ASSUMED THE RESPONSIBLITY TO OVERSEE AND COORDINATE THE FORM 990 PREPARATION, REVIEW AND FILING PROCESS. AS PART OF THE TAX RETURN PREPARATION PROCESS THE ORGANIZATION HIRED A PROFESSIONAL CERTIFIED PUBLIC ACCOUNTING ("CPA") FIRM WITH EXPERIENCE AND EXPERTISE IN NOT-FOR-PROFIT TAX RETURN PREPARATION TO PREPARE THE FEDERAL FORM 990. THE CPA FIRM'S TAX PROFESSIONALS WORKED CLOSELY WITH THE ORGANIZATION'S EXECUTIVE DIRECTOR TO OBTAIN THE INFORMATION NEEDED TO PREPARE A COMPLETE AND ACCURATE TAX RETURN. THE CPA FIRM PREPARED A DRAFT FEDERAL FORM 990 AND FURNISHED IT TO THE ORGANIZATION'S EXECUTIVE DIRECTOR FOR REVIEW. THE EXECUTIVE DIRECTOR REVIEWED THE DRAFT FEDERAL FORM 990 AND DISCUSSED QUESTIONS AND COMMENTS WITH THE CPA FIRM. REVISIONS WERE MADE TO THE DRAFT FEDERAL FORM 990 WHERE NECESSARY AND A FINAL DRAFT WAS FURNISHED BY THE CPA FIRM TO THE ORGANIZATION'S EXECUTIVE DIRECTOR FOR FINAL REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. CORE FORM, PART VI, SECTION B; QUESTION 12 THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. ANNUALLY ALL MEMBERS OF THE BOARD OF TRUSTEES AND OFFICERS ARE REQUIRED TO REVIEW THE EXISTING CONFLICT OF INTEREST POLICY AND COMPLETE A QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES ARE RETURNED TO THE ORGANIZATION'S VICE PRESIDENT FOR REVIEW. THEREAFTER THE VICE PRESIDENT PREPARES A SUMMARY OF THE COMPLETED QUESTIONNAIRES WHICH CONTAINS INFORMATION DISCLOSED ON AN INDIVIDUAL BY INDIVIDUAL BASIS AND THEREAFTER PRESENTS THIS SUMMARY TO THE ORGANIZATION'S BOARD OF TRUSTEES FOR THEIR REVIEW AND DISCUSSION. CORE FORM, PART VI, SECTION B; QUESTION 15 THE ORGANIZATION HAS AN EXECUTIVE COMPENSATION COMMITTEE ("COMMITTEE"). THE COMPENSATION AND BENEFITS OF THE EXECUTIVE DIRECTOR ARE REVIEWED BY THE COMMITTEE TO ENSURE FAIR MARKET VALUE COMPENSATION IS PAID. WHERE APPROPRIATE, THE BOARD REVIEWS EXTERNAL COMPARABLE DATA AND SEEKS ADVICE OF THE COMMITTEE TO ENSURE TOTAL COMPENSATION OF THIS INDIVIDUAL IS REASONABLE AND FAIR MARKET VALUE. CORE FORM, PART VI, SECTION C; QUESTION 19 THE ORGANIZATION'S FILED CERTIFICATE OF INCORPORATION AND ANY AMENDMENTS CAN BE OBTAINED AND REVIEWED THROUGH THE STATE OF NEW JERSEY DEPARTMENT OF THE TREASURY. CORE FORM, PART X THE PRIOR YEAR BALANCE SHEET HAS BEEN RESTATED TO CONFORM WITH THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. CORE FORM, PART XI; LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCE INCLUDE: - FORGIVENESS OF DEBT DUE TO SUMMIT MEDICAL GROUP, P.A.; A RELATED ORGANIZATION - $1,379,549. CORE FORM, PART XII; QUESTION 2 THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS ARE IN PROGRESS BY AN INDEPENDENT CPA FIRM AND NOT ISSUED AS OF THE DATE OF FILING THIS FORM 990. FORM 990 PART IX LINE 11G DESCRIPTION:PURCHASED SERVICES TOTAL FEES:817364 FORM 990 PART IX LINE 11G DESCRIPTION:CONTRACTED SERVICES TOTAL FEES:49400 FORM 990 PART IX LINE 11G DESCRIPTION:PROFESSIONAL FEES TOTAL FEES:30262 FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING FEES TOTAL FEES:11490 SUMMIT MEDICAL GROUP PA 1 DIAMOND HILL ROAD BERKELEY HEIGHTS NJ 07922 223487984 HEALTH SVCS. NJ NA C CORP. false false false false false false false false false false false false false true true true false false false false SUMMIT MEDICAL GROUP PA M 690559 COST