Virginia Hospital Research And Education Foundation
- Assets
- $7.7m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 12/1970
- Data as of
- 09/2023
- EIN
- 54-0801059
Organization Overview
Virginia Hospital Research And Education Foundation, operating under the name Vhha Foundation, is located in Richmond, VA. The organization was established in 1970. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vhha 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 09/2023, Vhha Foundation generated $8.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 26.8% each year . All expenses for the organization totaled $7.7m during the year ending 09/2023. While expenses have increased by 25.3% 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 2021, Vhha Foundation has awarded 72 individual grants totaling $7,312,253. 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
RESEARCH AND EDUCATION IN THE HEALTH CARE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VHHA FOUNDATION ADMINISTERED A NUMBER OF EXTERNALLY FUNDED GRANTS AND AWARDS THAT SUPPORTED OUR MISSION, MANY OF WHICH WERE AWARDED BY STATE AGENCIES IN VIRGINIA. WITH GENEROUS SUPPORT FROM OUR PARTNERS, THESE FUNDS HELPED US FACILITATE COLLABORATIVES AIMED AT IMPROVEMENTS IN THE HEALTH CARE SYSTEM AND IN THE OVERALL HEALTH OF VIRGINIA'S COMMUNITIES.
VIRGINIA HOSPITAL RESEARCH AND EDUCATION FOUNDATION'S PATIENT SAFETY ORGANIZATION (PSO) CONTINUED TO ASSIST VIRGINIA HOSPITALS IN PROVIDING THE SAFEST AND HIGHEST QUALITY OF CARE TO THEIR PATIENTS. THE PSO ALLOWS FOR TRENDING AND IDENTIFICATION OF IMPROVEMENT OPPORTUNITIES AND AVOIDANCE OF HARM ACROSS MULTIPLE ORGANIZATIONS USING BOTH STATE AND NATIONAL COMPARATIVE DATA.
IN FY23, VHHA FOUNDATION PROVIDED AN IN-PERSON ANNUAL CONFERENCE FOR HEALTH CARE LEADERS FOCUSED ON THE EVOLVING NATURE OF THE HEALTH CARE INDUSTRY AND THE CHALLENGES AND OPPORTUNITIES PRESENTED IN A POST-PANDEMIC WORLD. TWO VIRTUAL CONFERENCES WERE ALSO OFFERED, ONE FOCUSED ON IMPROVING PATIENT SAFETY AND HEALTHCARE QUALITY AND THE OTHER ON ADDRESSING WORKFORCE CHALLENGES. CORPORATE SPONSORSHIPS PROVIDED FINANCIAL SUPPORT FOR THESE EVENTS. A QUALITY SAFETY CERTIFICATE WAS ALSO OFFERED AND WAS SUPPORTED BY REGISTRATION FEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Mulkey Chair | OfficerTrustee | 1 | $0 |
B Eric Deaton Vice Chair | OfficerTrustee | 1 | $0 |
Mark Nantz Secretary/treasurer | OfficerTrustee | 1 | $0 |
Steve Arner Past Chair Until 4/23 | OfficerTrustee | 1 | $0 |
Michael Elliott Director | Trustee | 1 | $0 |
Joanne Inman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Health Begins Consulting | 9/29/23 | $169,754 |
Virginia Hospital And Health Care Associ Management | 9/29/23 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,320,755 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,734,828 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,055,583 |
| Total Program Service Revenue | $969,759 |
| Investment income | $119,642 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $316 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,145,300 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,896,465 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $150,000 |
| Fees for services: Legal | $10,450 |
| Fees for services: Accounting | $32,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,937 |
| Fees for services: Other | $788,071 |
| Advertising and promotion | $2,500 |
| Office expenses | $62,267 |
| Information technology | $97,281 |
| Royalties | $0 |
| Occupancy | $39,213 |
| Travel | $16,741 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $274,053 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,490 |
| Insurance | $18,101 |
| All other expenses | $1,238,662 |
| Total functional expenses | $7,651,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,308,650 |
| Savings and temporary cash investments | $98,860 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,312 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,333 |
| Net Land, buildings, and equipment | $53,895 |
| Investments—publicly traded securities | $4,135,298 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,218 |
| Total assets | $7,693,566 |
| Accounts payable and accrued expenses | $599,756 |
| Grants payable | $0 |
| Deferred revenue | $2,430,843 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $49,218 |
| 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 | $0 |
| Total liabilities | $3,079,817 |
| Net assets without donor restrictions | $4,613,749 |
| 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 | $7,693,566 |
Grants Awarded
Over the last fiscal year, Virginia Hospital Research And Education Foundation has awarded $2,703,328 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
BALLAD HEALTH PURPOSE: COMMUNITY HEALTH | $118,987 |
BON SECOURS HEALTH CARE FOUNDATION PURPOSE: HOSPITAL VIOLENCE INTERVENTION PROGRAM | $167,646 |
BON SECOURS RICHMOND HEALTHCARE FOUNDATION PURPOSE: COMMUNITY HEALTH | $47,000 |
CARILION CLINIC PURPOSE: COMMUNITY HEALTH | $50,000 |
CARILION MEDICAL CENTER PURPOSE: HOSPITAL VIOLENCE INTERVENTION PROGRAM | $42,434 |
CHESAPEAKE REGIONAL MEDICAL PURPOSE: HOSPITAL VIOLENCE INTERVENTION PROGRAM | $165,606 |