Northwestern Memorial Healthcare
- Assets
- $13.8b
- Revenue
- $2.1b
- Investments
- $5.7b
- Employees
- 5,725
- Location
- Chicago, IL
- Founding
- 06/2011
- Data as of
- 08/2023
- EIN
- 36-3152959
Organization Overview
Northwestern Memorial Healthcare is located in Chicago, IL. The organization was established in 2011. 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 08/2023, Northwestern Memorial Healthcare employed 5,725 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Northwestern Memorial Healthcare 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 08/2023, Northwestern Memorial Healthcare generated $2.1b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $1.7b during the year ending 08/2023. While expenses have increased by 13.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Northwestern Memorial Healthcare has awarded 168 individual grants totaling $266,879,583. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NORTHWESTERN MEMORIAL HEALTHCARE'S EXEMPT PURPOSE IS TO PROVIDE SUPPORT TO ITS HOSPITALS, PHYSICIAN CARE PRACTICES, ITS FOUNDATION AND THEIR AFFILIATES.
Describe the Organization's Program Activity:
NORTHWESTERN MEMORIAL HEALTHCARE (NMHC) IS THE NOT-FOR-PROFIT CORPORATE DIRECT OR INDIRECT PARENT OF NORTHWESTERN MEMORIAL HOSPITAL (NMH), NORTHWESTERN LAKE FOREST HOSPITAL (NLFH), CENTRAL DUPAGE HOSPITAL ASSOCIATION (CDHA), DELNOR-COMMUNITY HOSPITAL (DCH), VALLEY WEST COMMUNITY HOSPITAL (VWCH), KISHWAUKEE COMMUNITY HOSPITAL (KCH), MARIANJOY REHABILITATION HOSPITAL & CLINICS (MJHRH), NORTHERN ILLINOIS MEDICAL CENTER (NIMC), PALOS COMMUNITY HOSPITAL (PCH), NORTHWESTERN MEDICAL FACULTY FOUNDATION, CENTRAL DUPAGE PHYSICIAN GROUP, AND THEIR VARIOUS AFFILIATES AS LISTED IN THIS FORM 990, SCHEDULE R. WORKING TOGETHER UNDER THE BRAND NORTHWESTERN MEDICINE, NMHC AND NORTHWESTERN UNIVERSITY FEINBERG SCHOOL OF MEDICINE (FEINBERG) SHARE A VISION TO TRANSFORM MEDICAL CARE THROUGH CLINICAL INNOVATION, BREAKTHROUGH RESEARCH AND ACADEMIC EXCELLENCE TO MAKE A POSITIVE DIFFERENCE IN PEOPLE'S LIVES AND THE HEALTH OF OUR COMMUNITIES. NMHC PROVIDES COMPREHENSIVE INPATIENT CARE AT ELEVEN HOSPITAL FACILITIES. AMONG THESE ELEVEN FACILITY LOCATIONS, THREE HOSPITALS IN THE NORTHWEST SUBURBS OPERATE UNDER A SINGLE LICENSE AS NORTHERN ILLINOIS MEDICAL CENTER. AS THE PARENT OF THE NORTHWESTERN MEMORIAL HEALTH SYSTEM, NMHC PROVIDES GOVERNANCE SUPPORT AND CENTRALIZED SERVICES TO THE SYSTEM AS A WHOLE. NMHC IS POSITIONED TO ADVANCE GROUNDBREAKING WORK THAT CAN ONLY BE ACCOMPLISHED WITH THE RESOURCES OF AN INTEGRATED ACADEMIC MEDICAL HEALTH SYSTEM. AS AN INTEGRATED ACADEMIC MEDICAL HEALTH SYSTEM, NMHC CAN TAKE ACTION BEYOND PROVIDING CLINICAL CARE. WORKING WITH SCIENTISTS AND EXPERTS IN PUBLIC HEALTH, WE ARE STRIVING TO DETERMINE ROOT CAUSES AND DEVELOP SOLUTIONS TO ERADICATE SOME OF THE MOST WIDESPREAD, GROWING AND COMPLEX PUBLIC HEALTH ISSUES FACING THE UNITED STATES TODAY - FROM CHRONIC DISEASES INCLUDING CARDIOVASCULAR DISEASE, CANCER AND DIABETES, TO THE UNDERLYING CAUSES OF OBESITY, POOR MENTAL HEALTH AND PERSISTENT VIOLENCE IN OUR COMMUNITIES. NMHC SUPPORTS SOME OF THE NATION'S MOST ADVANCED RESEARCH PROGRAMS, LED BY PHYSICIAN SCIENTISTS AT FEINBERG, WHO ARE PUSHING THE BOUNDARIES OF SCIENCE AND MEDICINE THROUGH NATIONALLY RECOGNIZED RESEARCH PROGRAMS AS WELL AS ENTIRELY NEW SCIENTIFIC DISCIPLINES THAT ARE PIONEERING DIRECTIONS FOR PREVENTING AND CURING DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Per Regulation 16033-2d5 This Data Is Found On The | Trustee | $0 | |
Group Return Group Number 5878 | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,964 |
| Total Program Service Revenue | $1,749,178,725 |
| Investment income | $151,858,684 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $64,421 |
| Net Gain/Loss on Asset Sales | $146,967,630 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,057,415,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,192,379 |
| Grants and other assistance to domestic individuals. | $309,167 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $19,823,158 |
| Compensation of current officers, directors, key employees. | $2,541,260 |
| Compensation to disqualified persons | $976,442 |
| Other salaries and wages | $494,376,813 |
| Pension plan accruals and contributions | $24,580,411 |
| Other employee benefits | $71,316,267 |
| Payroll taxes | $33,793,732 |
| Fees for services: Management | $2,323,916 |
| Fees for services: Legal | $5,828,223 |
| Fees for services: Accounting | $2,534,679 |
| Fees for services: Lobbying | $83,560 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,650,660 |
| Fees for services: Other | $290,203,499 |
| Advertising and promotion | $12,292,987 |
| Office expenses | $31,580,417 |
| Information technology | $44,334,963 |
| Royalties | $0 |
| Occupancy | $68,609,285 |
| Travel | $1,542,399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,206,869 |
| Interest | $50,558,943 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,626,060 |
| Insurance | $222,578,848 |
| All other expenses | $4,494,661 |
| Total functional expenses | $1,684,720,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,615,512 |
| Savings and temporary cash investments | $1,248,466,121 |
| Pledges and grants receivable | $111,125 |
| Accounts receivable, net | $528,170 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,645,550 |
| Prepaid expenses and deferred charges | $79,724,628 |
| Net Land, buildings, and equipment | $668,104,296 |
| Investments—publicly traded securities | $3,268,592,735 |
| Investments—other securities | $5,682,577,121 |
| Investments—program-related | $340,267,080 |
| Intangible assets | $0 |
| Other assets | $2,521,439,340 |
| Total assets | $13,848,071,678 |
| Accounts payable and accrued expenses | $3,901,662,390 |
| Grants payable | $40,928,223 |
| Deferred revenue | $393,536 |
| Tax-exempt bond liabilities | $1,722,740,846 |
| 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 | $55,000,000 |
| Other liabilities | $5,191,962,556 |
| Total liabilities | $10,912,687,551 |
| Net assets without donor restrictions | $2,935,384,127 |
| Net assets with donor restrictions | $0 |
| 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 | $13,848,071,678 |
Grants Awarded
Over the last fiscal year, Northwestern Memorial Healthcare has awarded $45,111,938 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION INC PURPOSE: RESEARCH AND EDUCATION | $100,000 |
BENEVOLENT HEALTHCARE FOUNDATION PURPOSE: COMMUNITY HEALTH AND EDUCATION | $521,876 |
NORTHWESTERN UNIVERSITY PURPOSE: ACADEMIC SUPPORT | $43,971,787 |
AMERICAN LUNG ASSOCIATION OF ILL PURPOSE: COMMUNITY HEALTH AND EDUCATION | $45,000 |
NATIONAL MULTIPLE SCLEROSIS FOUNDATION PURPOSE: RESEARCH AND EDUCATION | $45,000 |
THE FACIAL PAIN RESEARCH FOUNDATION PURPOSE: RESEARCH SUPPORT | $45,000 |