Norton Healthcare Foundation Inc
- Assets
- $67.3m
- Revenue
- $14.5m
- Investments
- $13.3m
- Employees
- 4
- Location
- Louisville, KY
- Founding
- 09/1977
- Data as of
- 12/2021
- EIN
- 31-0914919
Organization Overview
Norton Healthcare Foundation Inc is located in Louisville, KY. The organization was established in 1977. According to its NTEE Classification (E12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Health Care and related organizations. As of 12/2021, Norton Healthcare Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norton Healthcare Foundation Inc 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, Norton Healthcare Foundation Inc generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $5.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Norton Healthcare Foundation Inc has awarded 26 individual grants totaling $32,275,345. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NORTON HEALTHCARE FOUNDATION RAISES FUNDS AND AWARDS GRANTS IN SUPPORT OF NORTON HOSPITALS, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTON HEALTHCARE FOUNDATION IS THE PHILANTHROPIC ARM OF THE NOT-FOR-PROFIT NORTON HEALTHCARE'S ADULT SERVICES AND FOUR ADULT-SERVICE HOSPITALS: NORTON AUDUBON HOSPITAL, NORTON BROWNSBORO HOSPITAL, NORTON HOSPITAL AND NORTON WOMEN'S & CHILDREN'S HOSPITAL. THE NORTON HEALTHCARE FOUNDATION RAISES FUNDS EACH YEAR TO IMPROVE PROGRAMS, EQUIPMENT AND FACILITIES, RESEARCH AND EDUCATION, ENABLING THE HOSPITALS TO STAY UP TO DATE WITH MEDICAL ADVANCES, TECHNOLOGY AND MAINTAINING THE COMMUNITY'S ACCESS TO HIGH-QUALITY HEALTH CARE. THE FOUNDATION WAS ABLE TO FUND THE FOLLOWING PROGRAMS IN 2021: * PASTORAL CARE CHAPLAIN RESIDENCY PROGRAM * NORTON CANCER INSTITUTE BREAST HEALTH AND CANCER PREVENTION AND EDUCATION PROGRAMS * OPIOID USE REDUCTION PROGRAM * PARKINSON SUPPORT CENTER PROGRAMS * EXPRESSIVE THERAPISTS FOR THE NORTON CANCER INSTITUTE PAT HARRISON RESOURCE CENTER * FELLOWSHIP DIRECTOR FOR NORTON LEATHERMAN SPINE * DEVELOPING FOOD PANTRIES THROUGHOUT THE COMMUNITY * HEEL, DOG, HEAL FACILITY DOG PROGRAM
CAPITAL PROJECTS ARE ALSO FUNDED BY THE NORTON HEALTHCARE FOUNDATION. IN 2021, THE FOUNDATION PROVIDED FUNDING FOR THE FOLLOWING PROJECTS: * A VIRTUAL REALITY BALANCE ASSESSMENT SYSTEM, DRIVING SIMULATOR, ROBOTIC-ASSISTED THERAPY AND MORE AT NORTON NEUROSCIENCE INSTITUTE - BROWNSBORO, A NEW FACILITY IN NORTHEASTERN LOUISVILLE * THREE BIOTRONIK ZERO-GRAVITY UNITS PURCHASED FOR NORTON BROWNSBORO HOSPITAL * UPGRADES AND EQUIPMENT FOR NORTON HEART & VASCULAR INSTITUTE * RENOVATION AND MODERNIZATION OF ONE OF OUR MOBILE UNITS TO ESTABLISH NORTON PREVENTION & WELLNESS MOBILE PRIMARY CARE, A MEDICAL FACILITY ON WHEELS * PURCHASE OF THE PHILIPS EPIQ ELITE DIAGNOSTIC BREAST ULTRASOUND SYSTEM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Former Director/ Sys VP Mission & Outreach | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $962,560 |
| Related organizations | $0 |
| Government grants | $2,213,244 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,147,196 |
| Noncash contributions included in lines 1a–1f | $153,339 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,323,000 |
| Total Program Service Revenue | $0 |
| Investment income | $907,665 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,905,534 |
| Net Income from Fundraising Events | -$84,068 |
| Net Income from Gaming Activities | $7,509 |
| Net Income from Sales of Inventory | $472,518 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,532,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,376,836 |
| Grants and other assistance to domestic individuals. | $33,391 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $53,413 |
| Compensation of current officers, directors, key employees. | $16,024 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $578,103 |
| Pension plan accruals and contributions | $18,656 |
| Other employee benefits | $46,538 |
| Payroll taxes | $23,963 |
| 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 | $163,748 |
| Fees for services: Other | $77,723 |
| Advertising and promotion | $56,374 |
| Office expenses | $15,635 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,680 |
| Travel | $1,640 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,002 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $78,661 |
| All other expenses | $0 |
| Total functional expenses | $5,564,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,413 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $13,792,792 |
| 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 | $72,514 |
| Prepaid expenses and deferred charges | $5,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $30,004,269 |
| Investments—other securities | $13,269,639 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,118,718 |
| Total assets | $67,267,345 |
| Accounts payable and accrued expenses | $39,994 |
| Grants payable | $0 |
| 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 | $2,194,000 |
| Total liabilities | $2,233,994 |
| Net assets without donor restrictions | $3,465,907 |
| Net assets with donor restrictions | $61,567,444 |
| 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 | $67,267,345 |
Grants Awarded
Over the last fiscal year, Norton Healthcare Foundation Inc has awarded $4,376,836 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: FUND OF CAPITAL PROJECTS, PROGRAMS AND SERVICES | $2,383,001 |
Louisville, KY PURPOSE: FUND OF CAPITAL PROJECTS, PROGRAMS AND SERVICES | $1,230,576 |
Louisville, KY PURPOSE: FUNDING OF CAPITAL PROJECTS, PROGRAMS AND SERVICES | $763,259 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Norton Healthcare Foundation Inc has recieved totaling $23,140.
| Awarding Organization | Amount |
|---|---|
The Hazel & Walter T Bales Foundation Inc Jeffersonville, IN PURPOSE: GENERAL | $20,000 |
Koch Foundation Inc Evansville, IN PURPOSE: CHARITABLE OPERATIONS | $3,140 |
Endowment Analysis
| Beg. Balance | $15,581,064 |
| Earnings | $2,615,332 |
| Net Contributions | $26,575 |
| Other Expense | $804,282 |
| Ending Balance | $17,418,689 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentuckyone Health Inc Lexington, KY | $15,206,136 | $12,087,828 |
Hospital Sisters Of St Francis Foundation Inc Springfield, IL | $115,855,911 | $14,666,018 |
Ascension Care Management Insurance Holdings St Louis, MO | $337,485,264 | $76,291,210 |
Community Health Network Foundation Inc Indianapolis, IN | $96,702,775 | $20,395,245 |
Mosaic Health System St Joseph, MO | $1,008,013,378 | $78,795,144 |
Metrohealth Foundation Inc Cleveland, OH | $88,791,792 | $21,235,092 |
Community First Solutions Hamilton, OH | $99,479,120 | $13,306,151 |
Louisville Medical Center Development Corporation Louisville, KY | $97,176,335 | $8,068,476 |
Pulaski Health Foundation Inc Winamac, IN | $8,480,545 | $8,038,166 |
Healthcare Foundation Of La Porte Inc La Porte, IN | $192,768,600 | $27,903,057 |
Ephraim Mcdowell Health Inc Danville, KY | $193,248,022 | $7,628,237 |
The Healing Trust Nashville, TN | $0 | $7,303,090 |