Swedish Covenant Health
- Assets
- $746.0m
- Revenue
- $75.9m
- Investments
- $0.0
- Employees
- 3,149
- Location
- Chicago, IL
- Founding
- 07/1975
- Data as of
- 12/2021
- EIN
- 36-2179813
Organization Overview
Swedish Covenant Health is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2022, Swedish Covenant Health employed 3,149 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swedish Covenant Health 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 Health generated $75.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.4%) each year. All expenses for the organization totaled $70.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (19.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Swedish Covenant Health has awarded 11 individual grants totaling $3,835,750. 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
SWEDISH COVENANT HEALTH FOLLOWS THE MISSION OF NORTHSHORE - EDWARD-ELMHURST HEALTH TO "HELP EVERYONE IN OUR COMMUNITIES BE THEIR BEST."
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President & CEO | OfficerTrustee | 40 | $576,032 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Maxim Staffing Solutions Temporary Labor Services | 12/30/22 | $2,628,329 |
Interior Investments Llc Designing/remodeling Services | 12/30/22 | $866,027 |
Prolink Staffing Llc Temporary Labor | 12/30/22 | $1,013,702 |
Sch Laboratory Physicians Sc Healthcare Services | 12/30/22 | $817,780 |
Nephron Dialysis Center Ltd Healthcare Services | 12/30/22 | $765,590 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $137,746 |
| Investment income | $20,215 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,891,166 |
| Statement of Expenses | |
|---|---|
| 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. | $921,837 |
| Compensation to disqualified persons | $287,122 |
| Other salaries and wages | $24,214,502 |
| Pension plan accruals and contributions | $837,478 |
| Other employee benefits | $3,171,527 |
| Payroll taxes | $2,038,703 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76,565 |
| Fees for services: Accounting | $52,417 |
| Fees for services: Lobbying | $37,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,559,269 |
| Advertising and promotion | $195,627 |
| Office expenses | $617,533 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,459,527 |
| Travel | $37,844 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,154,142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,693,504 |
| Insurance | $1,931,067 |
| All other expenses | $0 |
| Total functional expenses | $70,046,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,784,961 |
| Savings and temporary cash investments | $6,053,270 |
| Pledges and grants receivable | $1,082,684 |
| Accounts receivable, net | $42,354,696 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,455,910 |
| Prepaid expenses and deferred charges | $4,144,441 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $101,770 |
| Other assets | $450,126,305 |
| Total assets | $746,038,383 |
| Accounts payable and accrued expenses | $59,481,592 |
| 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 | $493,380,938 |
| Total liabilities | $552,862,530 |
| Net assets without donor restrictions | $192,132,210 |
| Net assets with donor restrictions | $1,043,643 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $193,175,853 |
Grants Awarded
Over the last fiscal year, Swedish Covenant Health has awarded $965,750 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ERIE FAMILY HEALTH CENTER PURPOSE: To help defray the costs of uncompensated care to lower income and medically underserved patients at the health center. | $940,000 |
FRIENDS OF NORTHSIDE COLLEGE PREPARATORY HIGH SCHOOL PURPOSE: General Support | $5,750 |
ERIE FAMILY HEALTH FOUNDATION INC PURPOSE: General Support | $20,000 |