Inova Health System Foundation, operating under the name Inova Health System, is located in Fairfax, VA. The organization was established in 1978. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Inova Health System employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inova Health System 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 12/2020, Inova Health System generated $824.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 70.5% each year . All expenses for the organization totaled $46.7m during the year ending 12/2020. While expenses have increased by 4.8% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
IHSF, THE PARENT COMPANY OF INOVA HEALTH SYSTEM, OVERSEES AND COORDINATES THE ACTIVITIES OF INOVA HEALTH SYSTEM TO ENSURE THAT THEY FURTHER FOUNDATION'S AND SYSTEM'S TAX-EXEMPT PURPOSES AND SERVES AS A CHARITABLE FOUNDATION TO SUPPORT INOVA'S TAX-EXEMPT ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INOVA HEALTH SYSTEM FOUNDATION (IHSF), THE PARENT COMPANY OF INOVA HEALTH SYSTEM, IS A NON-STOCK, NOT-FOR-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INOVA HEALTH SYSTEM (INOVA) PROVIDES HEALTHCARE AND RELATED SERVICES THROUGHOUT NORTHERN VIRGINIA AND THE GREATER METROPOLITAN WASHINGTON, D.C. AREA, INCLUDING CERTAIN CONTIGUOUS COUNTIES OF VIRGINIA AND MARYLAND.SINCE ITS INITIATION BY CITIZEN-VOLUNTEERS IN 1956, INOVA AND ITS AFFILIATES HAVE GROWN TO MEET THE CHANGING NEEDS OF A DIVERSE AND GROWING POPULATION. AS A NOT-FOR-PROFIT ORGANIZATION, INOVA DOES NOT HAVE SHAREHOLDERS. IT IS GOVERNED BY THE PEOPLE IT SERVES: MEMBERS OF THE COMMUNITY. THIS MODEL OF GOVERNANCE HELPS TO ENSURE THAT INOVA MEETS THE DIVERSE HEALTHCARE NEEDS OF THE COMMUNITY.IN KEEPING WITH INOVA'S COMMUNITY SERVICE MISSION, INOVA AND ITS AFFILIATES PROVIDE A WIDE RANGE OF PROGRAMS AND SERVICES WHICH DIRECTLY BENEFIT THE COMMUNITY THEY SERVE. THESE INCLUDE:PROVIDING THE HIGHEST QUALITY MEDICAL CARE TO ALL MEMBERS OF THE COMMUNITY, REGARDLESS OF THEIR FINANCIAL RESOURCES.PROVIDING FREE AND BELOW COST HEALTH SERVICES TO MEET THE IDENTIFIED NEEDS OF TARGETED COMMUNITY GROUPS, SUCH AS: THE INDIGENT AND ELDERLY; VICTIMS OF CANCER, HEART DISEASE, AND STROKE; PERSONS AFFECTED BY SUBSTANCE ABUSE; HIV-POSITIVE INDIVIDUALS; AND OTHERS. PROVIDING UNCOMPENSATED CARE IN ACCORDANCE WITH INOVA POLICIES WHICH ENSURE ACCESS TO MEDICALLY NECESSARY CARE FOR ALL INDIVIDUALS. CHARITY CARE IS DEFINED AS FREE OR DISCOUNTED HEALTHCARE SERVICES PROVIDED TO PERSONS WHO CANNOT AFFORD TO PAY. INOVA HEALTH SYSTEM IS ONE OF THE LARGEST PROVIDERS OF UNCOMPENSATED CARE IN VIRGINIA. PROVIDING HEALTH EDUCATION AND A VARIETY OF OTHER SERVICES TO THE COMMUNITY.TRAINING HEALTH PROFESSIONALS AND PARTICIPATING IN MEDICAL RESEARCH ACTIVITIES. INOVA HEALTH SYSTEM IS COMPRISED OF: INOVA HEALTH SYSTEM FOUNDATION (FOUNDATION), A PARENT COMPANY, WHICH ALSO SERVES AS A CHARITABLE FOUNDATION, RAISING FUNDS TO SUPPORT INOVA'S TAX-EXEMPT ENTITIES. THE FOUNDATION OPERATES IN ACCORDANCE WITH INOVA'S ARTICLES OF INCORPORATION, WHICH PROVIDE THAT ALL FUNDS RAISED, EXCEPT FOR THOSE REQUIRED FOR THE OPERATIONS OF THE FOUNDATION, BE DISTRIBUTED OR HELD IN SUPPORT OF THE CHARITABLE OBJECTIVES AND MISSION OF INOVA AND ITS TAX-EXEMPT SUBSIDIARIES. FUNDS RAISED ARE CHANNELED TO THE COMMUNITY IN THE FORM OF EXPANDED MEDICAL AND OTHER COMMUNITY SERVICES. DURING 2021, FOUNDATION FUNDS WERE USED TO SUPPORT INOVA'S CENTERS OF EXCELLENCE IN CANCER, CARDIOVASCULAR AND NEUROLOGICAL CARE, AS WELL AS THE LIFE WITH CANCER SUPPORT AND EDUCATIONAL PROGRAM AND THE INOVA EWING FORENSIC ASSESSMENT CONSULTATION TEAM (FACT) DEPARTMENT. IN ADDITION, DONATED FUNDS WERE USED IN 2021 TO SUPPORT MANY OTHER INOVA PROGRAMS INCLUDING THE INOVA JUNIPER PROGRAM, INOVA CARES CLINICS FOR WOMEN, CHILDREN, AND FAMILIES, THE INOVA HEALTHY PLATE CLUB, INOVA LIONS EYE CLINIC, AND THE INOVA KELLAR CENTER'S BEHAVIORAL SERVICES PROGRAM. EFFECTIVE DECEMBER 31, 2019, LOUDOUN HEALTHCARE FOUNDATION AND ALEXANDRIA HEALTHCARE FOUNDATION MERGED INTO THE INOVA HEALTH SYSTEM FOUNDATION.INOVA HEALTH CARE SERVICES (IHCS) IS A TAX-EXEMPT, NON-STOCK CORPORATION THAT SERVES THE HEALTH CARE NEEDS OF THE COMMUNITY BY ESTABLISHING, MAINTAINING AND OPERATING HOSPITAL AND HEALTH CARE FACILITIES, PROGRAMS, AND OTHER SHARED AND INTEGRATED HEALTH CARE DELIVERY ARRANGEMENTS. IHCS OPERATES THE FOLLOWING FACILITIES, AMONG OTHERS: INOVA FAIRFAX HOSPITAL ("FAIRFAX"); INOVA MOUNT VERNON HOSPITAL ("MOUNT VERNON"), INOVA FAIR OAKS HOSPITAL ("FAIR OAKS"), INOVA LOUDOUN HOSPITAL ("LOUDOUN") AND INOVA ALEXANDRIA HOSPITAL ("ALEXANDRIA"). IHCS ALSO PROVIDES AND MANAGES THE CLINICAL, NON-HOSPITAL FACILITIES AND PROGRAMS WHOSE SERVICES INCLUDE SENIOR SERVICES, ASSISTED LIVING FACILITIES, ADDICTION TREATMENT SERVICES FOR ADULTS AND ADOLESCENTS, OUTPATIENT REHABILITATION SERVICES, URGENT CARE AND OTHER OUTPATIENT HEALTH CARE SERVICES. IHCS ALSO MAINTAINS A GROUP OF PRIMARY CARE AND SPECIALTY PHYSICIANS OPERATING AS THE INOVA MEDICAL GROUP. IHCS ALSO OPERATES LOUDOUN NURSING AND REHABILITATION CENTER.INOVA HAS A JOINT VENTURE WITH ALTERNATE SOLUTIONS HEALTH NETWORK WHICH RESTRUCTURED THE MANAGEMENT OF THE INOVA VNA SERVICES. INOVA MAINTAINS 51% OWNERSHIP OF THE COMPANY, AND THE JOINT VENTURE IS NOW KNOWN AS INOVA HOME HEALTH (IHH). INOVA HOME HEALTH COMPLETED 127,734 HOME HEALTH VISITS IN 2021. INOVA HOLDINGS, INC. (IHI) IS THE PARENT HOLDING COMPANY FOR VARIOUS TAXABLE ENTITIES WITHIN INOVA INCLUDING TECHNICAL DYNAMICS INC., A BIOMEDICAL EQUIPMENT MAINTENANCE AND ENGINEERING COMPANY. IHI AND ITS SUBSIDIARIES OPERATE FACILITIES PROVIDING A VARIETY OF HEALTH CARE AND SUPPORT SERVICES TO PATIENTS AND TO AFFILIATED HEALTH CARE PROVIDERS.PROGRAM SERVICESPHILANTHROPY IS CRITICAL TO INOVA'S MISSION. THERE ARE OVER 500 PHILANTHROPIC FUNDS IN INOVA'S FOUNDATION. THIS BROAD RANGE OF PHILANTHROPY HELPS INOVA STAY ON THE FOREFRONT OF MEDICAL ADVANCES, DEVELOP NEW PROGRAMS TO MEET CHANGING NEEDS, AND PROVIDE AFFORDABLE HEALTHCARE TO ALL WHO NEED IT. PROGRAMS SUPPORTED INCLUDE PARTNERSHIP FOR HEALTHIER COMMUNITIES (PHC), SERVING 3,822 CHILDREN AND FAMILIES IN 2021; THE INOVA JUNIPER PROGRAM SERVING OVER 1,600 PERSONS LIVING WITH HIV; AND THE LIFE WITH CANCER PROGRAM WITH 22,921 PARTICIPANTS. FOUNDATION FUNDS ALSO SUPPORT MANY OTHER INOVA PROGRAMS INCLUDING INOVA CARES CLINICS FOR WOMEN, CHILDREN AND FAMILIES AND THE INOVA KELLAR CENTER'S BEHAVIORAL SERVICES PROGRAM.TOTAL SUPPORT PROVIDED IN 2021 TO THE COMMUNITY AND INOVA PROGRAMS WAS APPROXIMATELY $15.5 MILLION.
INVESTMENT MANAGEMENT FEES OF $6.4 MILLION ARE RELATED TO INVESTMENTS THAT INOVA HEALTH SYSTEM FOUNDATION UTILIZES TO PROVIDE HEALTHCARE AND RELATED SERVICES THROUGHOUT NORTHERN VIRGINIA AND THE GREATER WASHINGTON, D.C., METROPOLITAN AREA. THE FEES ARE CALCULATED BASED ON THE MARKET VALUE OF THE INVESTMENTS TIMES BASIS POINTS ESTABLISHED IN EACH CONTRACT. THE RATES ON THESE CONTRACTS APPLY UNTIL A NEW RATE IS NEGOTIATED.
THE FOUNDATION MAINTAINS AUXILIARY SERVICES AT THE HOSPITALS FOR THE PURPOSE OF OPERATING GIFT AND THRIFT SHOPS THAT PROVIDE SUPPORT TO THE HOSPITALS WITHIN THE SYSTEM. THE AUXILIARIES RECEIVE COMMISSIONS FROM VARIOUS FUNDRAISING ACTIVITIES. THE COST ASSOCIATED WITH THE AUXILIARIES WAS $2.7 MILLION IN 2021.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Sage Bolte President Ihs Foundation | Officer | 40 | $692,511 |
Steven Norris VP Philantrhopy | 40 | $461,121 | |
Laura Moses Avp Foundation Ops And Finance | 40 | $222,645 | |
Melissa Mccracken Avp Donor Rel And Comm | 40 | $221,534 | |
Suzanne Quinn Exec Dir Philanthropy | 40 | $221,376 | |
Amy Richards Exec Dir Philanthropy | 40 | $214,993 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Northern Trust Investment Fees | 12/30/21 | $1,590,519 |
Artisan Investment Fees | 12/30/21 | $1,466,686 |
Vulcan Value Partners Llc Investment Fees | 12/30/21 | $739,735 |
Legal & General Investment Mgmt America Investment Fees | 12/30/21 | $831,788 |
Marketeam Llc Marketing | 12/30/21 | $908,653 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $34,158,684 |
Investment income | $40,630,125 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $717,857,819 |
Net Income from Fundraising Events | -$306,033 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $8,855,571 |
Miscellaneous Revenue | $0 |
Total Revenue | $824,217,139 |
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. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,791,679 |
Pension plan accruals and contributions | $335,369 |
Other employee benefits | $699,349 |
Payroll taxes | $544,021 |
Fees for services: Management | $1,653,874 |
Fees for services: Legal | $2,065 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $8,818,591 |
Fees for services: Other | $1,391,082 |
Advertising and promotion | $23,325 |
Office expenses | $274,165 |
Information technology | $319,059 |
Royalties | $0 |
Occupancy | $671,104 |
Travel | $9,921 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $34,692 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $279,547 |
Insurance | $22,274 |
All other expenses | $0 |
Total functional expenses | $46,657,835 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,194,385 |
Pledges and grants receivable | $61,352,999 |
Accounts receivable, net | $939,715 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $218,271 |
Prepaid expenses and deferred charges | $340,585 |
Investments—publicly traded securities | $1,851,715,853 |
Investments—other securities | $4,602,292,378 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $159,278,216 |
Total assets | $6,680,265,525 |
Accounts payable and accrued expenses | $3,755,707 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $2,534,511,932 |
Total liabilities | $2,538,267,639 |
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 | $4,141,997,886 |
Over the last fiscal year, Inova Health System Foundation has awarded $10,657,344 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
Fairfax, VA PURPOSE: MULTIPLE GRANTS MADE TO FURTHER THE MISSION OF INOVA HEALTH CARE SERVICES OF PROVIDING QUALITY HEALTHCARE TO THE COMMUNITY. | $10,440,824 |
Falls Church, VA PURPOSE: MULTIPLE GRANTS MADE TO FURTHER THE MISSION OF INOVA VNA HOME CARE OF PROVIDING QUALITY HEALTHCARE TO THE COMMUNITY. | $216,520 |
Over the last fiscal year, we have identified 48 grants that Inova Health System Foundation has recieved totaling $6,639,416.
Awarding Organization | Amount |
---|---|
The Hitt Family Foundation Inc Falls Church, VA PURPOSE: GENERAL USE | $3,212,114 |
Dudley Family Foundation Mclean, VA PURPOSE: GENERAL USE. | $550,000 |
Betty L Beatty And Guy E Beatty Foundation Mclean, VA PURPOSE: PROVIDED SUPPORT FOR MEDICAL SERVICES,RESEARCH,EDUCATION AND COMMUNITY HEALTH | $500,000 |
Randolph D Rouse Foundation Inc Arlington, VA PURPOSE: FUND SCHAR CANCER INSTITUTE | $400,000 |
The Community Foundation For Northern Virginia Inc Oakton, VA PURPOSE: SINGLE ORGANIZATION SUPPORT | $277,713 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 1 GRANT(S) FOR VARYING PURPOSES | $225,000 |
Beg. Balance | $42,259,191 |
Earnings | $5,815,551 |
Admin Expense | $54,729 |
Net Contributions | $1,572,187 |
Other Expense | $1,204,687 |
Grants | $10,000 |
Ending Balance | $48,377,513 |
Organization Name | Assets | Revenue |
---|---|---|
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Norton Properties Inc Louisville, KY | $374,509,086 | $60,233,665 |
West Virginia University Hospitals East Inc Martinsburg, WV | $676,755 | $63,515,006 |
Bricklayers And Allied Craftworkers International Health Fund Washington, DC | $54,125,903 | $67,880,287 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |