Childrens Hospital Of The Kings Daughters Inc
- Assets
- $1.0b
- Revenue
- $558.4m
- Investments
- $39.6m
- Employees
- 3,622
- Location
- Norfolk, VA
- Founding
- 06/1934
- Data as of
- 06/2021
- EIN
- 54-0506321
Organization Overview
Childrens Hospital Of The Kings Daughters Inc is located in Norfolk, VA. The organization was established in 1934. According to its NTEE Classification (E24) the organization is classified as: Specialty Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2022, Childrens Hospital Of The Kings Daughters Inc employed 3,622 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Hospital Of The Kings Daughters 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 06/2021, Childrens Hospital Of The Kings Daughters Inc generated $558.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $466.3m during the year ending 06/2021. While expenses have increased by 3.7% 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, Childrens Hospital Of The Kings Daughters Inc has awarded 44 individual grants totaling $149,153,945. 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
SEE SCHEDULE ODEDICATED TO THE MISSION OF PROVIDING THE BEST POSSIBLE CARE AND SERVICES FOR ALL CHILDREN WHO COME TO US BECAUSE OF SICKNESS AND INJURY.
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 |
|---|---|---|---|
James D Dahling President/director | OfficerTrustee | 1 | $0 |
Robert Obermeyer MD Director | Trustee | 1 | $0 |
Akhil Jain Chairman/director | OfficerTrustee | 2 | $0 |
Edward Whitmore Treasurer/director | OfficerTrustee | 2 | $0 |
Elly Bradshaw Smith Director | Trustee | 1 | $0 |
John R Lawson II Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
W M Jordan Construction | 6/29/22 | $76,562,420 |
Children's Specialty Group Medical | 6/29/22 | $33,178,241 |
Eastern Virginia Med School Medical | 6/29/22 | $13,226,062 |
The Whiting-turner Contracting Company Construction | 6/29/22 | $9,160,733 |
Compass One Food Services | 6/29/22 | $8,747,211 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $99,087,320 |
| Investment income | $2,541,859 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,150,265 |
| Net Gain/Loss on Asset Sales | $46,803,190 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $558,372,674 |
| 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. | $1,506,529 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,034,048 |
| Pension plan accruals and contributions | $5,474,867 |
| Other employee benefits | $17,353,025 |
| Payroll taxes | $12,252,581 |
| Fees for services: Management | $60,000 |
| Fees for services: Legal | $177,454 |
| Fees for services: Accounting | $41,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $200,918 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,840,559 |
| Advertising and promotion | $208,265 |
| Office expenses | $2,861,972 |
| Information technology | $2,171,935 |
| Royalties | $0 |
| Occupancy | $15,543,012 |
| Travel | $210,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $550,242 |
| Interest | $3,936,376 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,955,127 |
| Insurance | $2,108,648 |
| All other expenses | $0 |
| Total functional expenses | $466,323,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $77,981,519 |
| Pledges and grants receivable | $20,108,722 |
| Accounts receivable, net | $83,448,509 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,180,116 |
| Prepaid expenses and deferred charges | $9,171,291 |
| Investments—publicly traded securities | $319,345,255 |
| Investments—other securities | $39,639,946 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,349,368 |
| Total assets | $1,001,729,901 |
| Accounts payable and accrued expenses | $53,441,384 |
| Grants payable | $0 |
| Deferred revenue | $3,236,982 |
| Tax-exempt bond liabilities | $198,693,628 |
| 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 | $72,782,521 |
| Total liabilities | $328,154,515 |
| 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 | $673,575,386 |
Grants Awarded
Over the last fiscal year, Childrens Hospital Of The Kings Daughters Inc has awarded $14,590,555 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S HEALTH FOUNDATION INC PURPOSE: GENERAL SUPPORT | $4,829,234 |
CHILDREN'S HEALTH SYSTEM INC PURPOSE: GENERAL SUPPORT | $9,700,000 |
OLD DOMINION UNIVERSITY RESEARCH FOUNDATION PURPOSE: CHEST WALL STUDY | $41,321 |
FRIENDS OF THE ELIZABETH RIVER TRAIL FOUNDATION PURPOSE: GENERAL SUPPORT | $20,000 |