The Carle Foundation
- Assets
- $3.0b
- Revenue
- $575.4m
- Investments
- $183.2m
- Employees
- 3,158
- Location
- Urbana, IL
- Founding
- 04/1948
- Data as of
- 12/2023
- EIN
- 37-0673465
Organization Overview
The Carle Foundation is located in Urbana, IL. The organization was established in 1948. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2023, Carle Foundation employed 3,158 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carle 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 12/2023, Carle Foundation generated $575.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $549.8m during the year ending 12/2023. While expenses have increased by 9.1% per year over the past 8 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 2014, Carle Foundation has awarded 41 individual grants totaling $162,310,726. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BE THE TRUSTED PARTNER IN ALL HEALTHCARE DECISIONS AND IMPROVE HEALTH BY PROVIDING HIGHLY ACCESSIBLE, WORLD-CLASS CARE AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CARLE FOUNDATION IS ORGANIZED AND AT ALL TIMES OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF THE FOLLOWING HEALTHCARE ORGANIZATIONS WHICH ARE AFFILIATED WITH THE CORPORATION THROUGH THE PROVISION OF FINANCIAL AND MANAGEMENT ASSISTANCE: THE CARLE FOUNDATION HOSPITAL, CARLE BROMENN MEDICAL CENTER, CARLE EUREKA HOSPITAL, HOOPESTON COMMUNITY MEMORIAL HOSPITAL D/B/A CARLE HOOPESTON REGIONAL HEALTH CENTER, RICHLAND MEMORIAL HOSPITAL D/B/A CARLE RICHLAND MEMORIAL HOSPITAL, THE METHODIST MEDICAL CENTER OF ILLINOIS D/B/A CARLE HEALTH METHODIST HOSPITAL, PROCTOR HOSPITAL D/B/A CARLE HEALTH PROCTOR HOSPITAL, PEKIN MEMORIAL HOSPITAL D/B/A CARLE HEALTH PEKIN HOSPITAL, CARLE HEALTH CARE INCORPORATED D/B/A CARLE PHYSICIAN GROUP, THE CARLE DEVELOPMENT FOUNDATION D/B/A CARLE HEALTH CENTER FOR PHILANTHROPY, OR ANY OTHER NOT-FOR-PROFIT CORPORATION THAT IS OR BECOMES AFFILIATED WITH THE CORPORATION, OR ANY OF THE HEALTH CARE ORGANIZATIONS DESCRIBED IN THIS SECTION, WHICH QUALIFIES FOR EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) AND AS A PUBLIC CHARITY UNDER SECTIONS 509(A)(1) OR (2) OF THE CODE. THE CARLE FOUNDATION: (A) SERVES AS THE PARENT CORPORATION FOR AN INTEGRATED HEALTH CARE DELIVERY NETWORK (B) PROVIDES FINANCING AND MANAGEMENT ASSISTANCE TO THE ORGANIZATIONS DESCRIBED ABOVE (C) ACQUIRES, OWNS, USES, LEASES AS LESSOR OR LESSEE, CONVEYS AND OTHERWISE DEALS IN AND WITH REAL PROPERTY AND ANY INTEREST THEREIN, ALL IN SUPPORT OF OR IN FURTHERANCE OF THE CHARITABLE PURPOSES OF THE ORGANIZATIONS DESCRIBED ABOVE (D) CONTRACTS WITH OTHER ORGANIZATIONS (FOR PROFIT AND NOT-FOR-PROFIT), WITH INDIVIDUALS, AND WITH GOVERNMENTAL AGENCIES IN SUPPORT OF, OR IN FURTHERANCE OF, THE CHARITABLE PURPOSES OF THE ORGANIZATIONS DESCRIBED ABOVE AND (E) OWNS OR OPERATES FACILITIES OR OWNS OTHER ASSETS FOR PUBLIC USE AND WELFARE IN FURTHERANCE OF THE CHARITABLE PURPOSES OF THE ORGANIZATIONS DESCRIBED ABOVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Immediate Past Chair | OfficerTrustee | 0.3 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 2.5 | $0 |
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee - Physician | Trustee | 1 | $0 |
Name Not Listed Trustee Beg 04/01/2023 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deloitte Consulting Llp Consulting Services | 12/30/23 | $18,986,317 |
Epic Systems Corporation Software Support | 12/30/23 | $17,748,411 |
Petry Kuhne Company Construction | 12/30/23 | $12,462,605 |
Burwood Group It Management | 12/30/23 | $10,855,789 |
Paric Corporation Construction | 12/30/23 | $10,510,152 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $361,532 |
| Government grants | $643,231 |
| 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 | $1,004,763 |
| Total Program Service Revenue | $529,712,604 |
| Investment income | $33,769,745 |
| Tax Exempt Bond Proceeds | $2,798,363 |
| Royalties | $0 |
| Net Rental Income | $2,357,561 |
| Net Gain/Loss on Asset Sales | -$741,234 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $575,377,812 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,640,336 |
| 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. | $10,399,542 |
| Compensation of current officers, directors, key employees. | $5,199,771 |
| Compensation to disqualified persons | $142,648 |
| Other salaries and wages | $167,937,889 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,336,909 |
| Payroll taxes | $12,460,024 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,251,367 |
| Fees for services: Accounting | $672,850 |
| Fees for services: Lobbying | $2,711 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,206,977 |
| Fees for services: Other | $98,785,614 |
| Advertising and promotion | $2,955,299 |
| Office expenses | $45,575,333 |
| Information technology | $48,574,710 |
| Royalties | $0 |
| Occupancy | $10,756,818 |
| Travel | $1,133,385 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $378,681 |
| Interest | $6,073,694 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,689,506 |
| Insurance | $7,590,114 |
| All other expenses | $2,127,571 |
| Total functional expenses | $549,795,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,610 |
| Savings and temporary cash investments | $344,652,532 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $217,906 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,064,716 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,931,000 |
| Net Land, buildings, and equipment | $998,211,695 |
| Investments—publicly traded securities | $1,380,009,783 |
| Investments—other securities | $183,231,574 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,906,084 |
| Total assets | $2,977,227,900 |
| Accounts payable and accrued expenses | $133,503,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,204,476,754 |
| 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 | $55,360,094 |
| Total liabilities | $1,393,340,348 |
| Net assets without donor restrictions | $1,583,887,552 |
| 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 | $2,977,227,900 |
Grants Awarded
Over the last fiscal year, The Carle Foundation has awarded $2,640,336 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE CARLE FOUNDATION HOSPITAL PURPOSE: Internal Funding | $278,340 |
CARLE DEVELOPMENT FOUNDATION PURPOSE: Internal Funding | $2,349,329 |
CARLE BROMENN MEDICAL CENTER PURPOSE: Internal Funding | $12,667 |