Inova Health System Foundation

Organization Overview

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.

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.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Northern Trust
Investment Fees
$1,590,519
Artisan
Investment Fees
$1,466,686
Vulcan Value Partners Llc
Investment Fees
$739,735
Legal & General Investment Mgmt America
Investment Fees
$831,788
Marketeam Llc
Marketing
$908,653
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, Inova Health System Foundation has awarded $10,657,344 in support to 2 organizations.

Grant RecipientAmount

INOVA HEALTH CARE SERVICES

Org PageRecipient Profile

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

INOVA VNA HOME CARE INC

Org PageRecipient Profile

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
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 48 grants that Inova Health System Foundation has recieved totaling $6,639,416.

Awarding OrganizationAmount
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
View Grant Recipient Profile

Endowment Analysis

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

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