Swedish Covenant Hospital Foundation
- Assets
- $67.8m
- Revenue
- $2.2m
- Investments
- $1.2m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 07/1975
- Data as of
- 12/2021
- EIN
- 20-5055155
Organization Overview
Swedish Covenant Hospital Foundation is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Swedish Covenant Hospital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Swedish Covenant Hospital Foundation generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $225.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SWEDISH COVENANT HOSPITAL FOUNDATION FOLLOWS THE MISSION OF NORTHSHORE UNIVERSITY HEALTHSYSTEM TO "PRESERVE AND IMPROVE HUMAN LIFE."
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT TO SWEDISH COVENANT HEALTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $113,892 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $218,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,453 |
| Total Program Service Revenue | $0 |
| Investment income | $556,692 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,291,150 |
| Net Income from Fundraising Events | -$2,499 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,177,796 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $149,474 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,270 |
| Payroll taxes | $4,490 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,000 |
| Fees for services: Other | $1,043 |
| Advertising and promotion | $0 |
| Office expenses | $391 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,556 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,530 |
| Total functional expenses | $225,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,612,462 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $64,891,543 |
| Investments—other securities | $1,219,412 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,165 |
| Total assets | $67,800,582 |
| Accounts payable and accrued expenses | $46,071 |
| Grants payable | $322,482 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $368,553 |
| Net assets without donor restrictions | $45,402,533 |
| Net assets with donor restrictions | $22,029,496 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $67,800,582 |
Grants Awarded
Over the last fiscal year, Swedish Covenant Hospital Foundation has awarded $530,586 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Evanston, IL PURPOSE: Genomics Program | $500,000 |
Chicago, IL PURPOSE: General Support | $30,586 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Swedish Covenant Hospital Foundation has recieved totaling $124,983.
| Awarding Organization | Amount |
|---|---|
Fifth Third Bank Chicagoland Foundation Rosemont, IL PURPOSE: COMMUNITY SERVICE | $25,000 |
Witz Family Foundation Oak Brook, IL PURPOSE: CHARITABLE | $25,000 |
Fifth Third Bank Chicagoland Foundation Rosemont, IL PURPOSE: COMMUNITY SERVICE | $25,000 |
Galter Foundation Niles, IL PURPOSE: TO FOSTER AND PROMOTE ACTIVITIES OF RECIPIENT | $25,000 |
Katherine And Louis Bries Medical Foundation Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $13,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $11,650 |
Endowment Analysis
| Beg. Balance | $21,780,251 |
| Earnings | $150,165 |
| Net Contributions | $260,954 |
| Other Expense | $161,874 |
| Ending Balance | $22,029,496 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sinai Health System Chicago, IL | $281,453,478 | $93,419,606 |
The Foundation For Barnes-Jewish Hospital St Louis, MO | $993,230,579 | $106,273,508 |
Deaconess Health System Inc Evansville, IN | $144,110,992 | $33,405,417 |
Norton Properties Inc Louisville, KY | $374,509,086 | $60,233,665 |
Freeport Regional Health Care Found Ation Freeport, IL | $44,647,544 | $45,400,897 |
Ann & Robert H Lurie Childrens Hospital Of Chicago Foundation Chicago, IL | $630,869 | $58,277,786 |
Ascension Medical Group Genesys St Louis, MO | $56,901,611 | $50,467,195 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
St Louis Childrens Hospital Foundation St Louis, MO | $519,869,527 | $109,928,853 |
Midwest Medical Center Galena, IL | $42,348,172 | $34,873,960 |