Holy Cross Health Inc
- Assets
- $1.2b
- Revenue
- $701.2m
- Investments
- $189.1m
- Employees
- 4,894
- Location
- Silver Spring, MD
- Founding
- 12/2013
- Data as of
- 06/2021
- EIN
- 52-0738041
Organization Overview
Holy Cross Health Inc, operating under the name See Schedule O, is located in Silver Spring, MD. The organization was established in 2013. 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 06/2022, See Schedule O employed 4,894 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. See Schedule O 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 06/2021, See Schedule O generated $701.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $622.5m during the year ending 06/2021. While expenses have increased by 2.5% 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 2018, See Schedule O has awarded 17 individual grants totaling $2,496,259. 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
TO PROVIDE HEALTH CARE AND HOSPITAL SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLY CROSS HEALTH IS A NOT-FOR-PROFIT HEALTH SYSTEM IN MONTGOMERY COUNTY, MD., DEDICATED TO IMPROVING THE HEALTH OF ITS COMMUNITY FOR MORE THAN 60 YEARS. HOLY CROSS SERVES OVER 160,000 PATIENTS EACH YEAR THROUGH A FULL RANGE OF INPATIENT, OUTPATIENT AND INNOVATIVE COMMUNITY-BASED SERVICES. HOLY CROSS HAS GROWN FROM A SINGLE HOSPITAL LOCATED IN SILVER SPRING, MD., INTO A SYSTEM OF HOSPITALS AND HEALTH CENTERS IN LOCATIONS THROUGHOUT THE COMMUNITY. HOLY CROSS GERMANTOWN HOSPITAL OPENED OCTOBER 1, 2014 AND IS THE FIRST HOSPITAL IN THE NATION TO BE LOCATED ON A COLLEGE CAMPUS. CARE IS ENHANCED BY AN EDUCATIONAL PARTNERSHIP, AND INCLUDES HIGH-QUALITY MEDICAL, SURGICAL, OBSTETRIC, EMERGENCY, AND BEHAVIORAL HEALTH SERVICES. HOLY CROSS HEALTH CENTERS ARE LOCATED IN SILVER SPRING, GAITHERSBURG, GERMANTOWN AND ASPEN HILL.FOR MORE INFORMATION SEE SCHEDULE H AND THE HOSPITAL WEBSITE: WWW.HOLYCROSSHEALTH.ORG.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norvell Coots MD Director; President & CEO | OfficerTrustee | 54 | $0 |
Louis Damiano MD President Holy Cross Hospital | Officer | 55 | $0 |
Tina Weatherwax-Grant Dir; Th SVP Public Policy & Advocacy | Trustee | 1 | $0 |
Riny Karras Physician | 50 | $506,239 | |
Yancy Phillips MD Chief Clinical Officer | Officer | 50 | $0 |
Doug Ryder President Hc Germantown Hospital | Officer | 55 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hallmark Health Care Solutions Inc Temporary Medical Staffing Services | 6/29/22 | $17,228,741 |
Usacs Integrated Acute Care Svcs Clinical Services | 6/29/22 | $2,791,180 |
Whiting Turner Contracting Co Construction Services | 6/29/22 | $2,359,791 |
Childrens Natl Med Clinical Services | 6/29/22 | $2,185,214 |
Holy Cross Anesthesiology Asso Clinical Services | 6/29/22 | $2,617,347 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,783,810 |
| Investment income | $12,535,700 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,532,915 |
| Net Gain/Loss on Asset Sales | $22,176,402 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $701,172,860 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $105,347 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,429,175 |
| Compensation to disqualified persons | $395,972 |
| Other salaries and wages | $256,065,681 |
| Pension plan accruals and contributions | $5,522,697 |
| Other employee benefits | $27,997,826 |
| Payroll taxes | $19,115,127 |
| Fees for services: Management | $1,936,720 |
| Fees for services: Legal | $132,059 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $75,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $737,928 |
| Fees for services: Other | $70,204,998 |
| Advertising and promotion | $865,771 |
| Office expenses | $7,067,904 |
| Information technology | $22,323,475 |
| Royalties | $0 |
| Occupancy | $15,225,015 |
| Travel | $76,634 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $200,413 |
| Interest | $15,066,311 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,984,549 |
| Insurance | $4,813,834 |
| All other expenses | $0 |
| Total functional expenses | $622,457,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,374 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $40,657 |
| Accounts receivable, net | $74,331,775 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,719,999 |
| Prepaid expenses and deferred charges | $2,354,584 |
| Investments—publicly traded securities | $352,509,047 |
| Investments—other securities | $189,071,526 |
| Investments—program-related | $0 |
| Intangible assets | $579,660 |
| Other assets | $100,159,640 |
| Total assets | $1,151,918,907 |
| Accounts payable and accrued expenses | $72,243,981 |
| Grants payable | $0 |
| Deferred revenue | $11,302,708 |
| 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 | $2,122,370 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $462,902,561 |
| Total liabilities | $548,571,620 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $603,347,287 |
Grants Awarded
Over the last fiscal year, Holy Cross Health Inc has awarded $257,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SISTERS OF THE HOLY CROSS PURPOSE: SUPPORT FOR THE FORMAL MINISTRIES OF THE SISTERS OF THE HOLY CROSS | $150,000 |
MONTGOMERY COLLEGE FOUNDATION PURPOSE: SUPPORT MONTGOMERY COLLEGE TO ACHIEVE EDUCATIONAL GOALS | $60,000 |
NATIONAL INSTITUTES OF HEALTH PURPOSE: SUPPORT PALLIATIVE CARE FELLOWS EMPLOYED BY NATIONAL INSTITUTE OF HEALTH (NIH) AND PRACTICING AT HOLY CROSS PURSUANT TO THE INTERINSTITUTIONAL TRAINING AGREEMENT BETWEEN HOLY CROSS AND THE NIH | $47,500 |