Edward Health Ventures
- Assets
- $132.0m
- Revenue
- $157.1m
- Investments
- $0.0
- Employees
- 1,580
- Location
- Naperville, IL
- Founding
- 04/1988
- Data as of
- 12/2022
- EIN
- 58-1672987
Organization Overview
Edward Health Ventures is located in Naperville, IL. The organization was established in 1988. 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 12/2022, Edward Health Ventures employed 1,580 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edward Health Ventures 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 12/2022, Edward Health Ventures generated $157.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $249.8m during the year ending 12/2022. While expenses have increased by 9.4% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDWARD HEALTH VENTURES FOLLOWS THE MISSION OF NORTHSHORE - EDWARD-ELMHURST HEALTH TO "HELP EVERYONE IN OUR COMMUNITIES BE THEIR BEST."
Describe the Organization's Program Activity:
EDWARD HEALTH VENTURES OFFERS PHYSICIAN SERVICES IN PRIMARY CARE, OBSTETRICS, MEDICAL ONCOLOGY, RHEUMATOLOGY, NEUROSCIENCE, NEPHROLOGY, PSYCHIATRY, HOSPITALISTS AND A VARIETY OF SURGICAL SPECIALTIES. EDWARD MEDICAL GROUP AND ELMHURST MEMORIAL MEDICAL GROUP ARE COMPRISED OF 38 PHYSICIAN PRACTICES IN THE WESTERN SUBURBS OF CHICAGO, INCLUDING NAPERVILLE, AURORA, BOLINGBROOK, PLAINFIELD, CRESTHILL, LISLE, WARRENVILLE, OSWEGO, SANDWICH, YORKVILLE, SYCAMORE, ELMHURST, AND OAK PARK. EDWARD HEALTH VENTURES OPERATES 6 WALK-IN CLINICS IN NAPERVILLE, AURORA, WOODRIDGE, YORKVILLE, PLAINFIELD, AND ELMHURST. EDWARD HEALTH VENTURES OPERATES 5 IMMEDIATE CARES IN ADDISON, OAK PARK, HINSDALE, OSWEGO, AND NAPERVILLE. LINDEN OAKS MEDICAL GROUP, WITH SPECIALISTS IN CHILD AND ADULT PSYCHIATRY, IS COMPRISED OF 8 PHYSICIAN PRACTICE LOCATIONS INCLUDING NAPERVILLE, WOODRIDGE, PLAINFIELD, ST. CHARLES, YORKVILLE, MOKENA, OAK PARK AND ELMHURST.
EDWARD HEALTH VENTURES PROVIDES ACCESS TO MEDICAL SERVICES AT CONVENIENT LOCATIONS BY OPERATING MEDICAL OFFICE BUILDINGS IN NAPERVILLE, PLAINFIELD, BOLINGBROOK, OSWEGO AND ELMHURST. IT HAS APPROXIMATELY 30 MEDICAL OFFICE TENANTS INCLUDING A NUMBER OF EDWARD HOSPITAL PROGRAMS. THE EXPANSION OF THE EDWARD PLAINFIELD CAMPUS INCLUDES OFFERING PHYSICIAN AND OTHER RELATED HEALTH CARE SERVICES INCLUDING MEDICAL ONCOLOGY FROM EDWARD CANCER CENTER, EDWARD PERINATOLOGY CENTER, EDWARD HOSPITAL PHYSICAL THERAPISTS AND BEHAVIORAL HEALTH PROFESSIONALS FROM LINDEN OAKS MEDICAL GROUP AND INDEPENDENT SPECIALISTS, INCLUDING PEDIATRICIANS, CARDIOLOGISTS, OBSTETRICIANS, GYNECOLOGISTS, ALLERGISTS, OPTHALOMOLOGISTS, AND PRIMARY CARE PHYSICIANS.
EDWARD HEALTH VENTURES INVESTS IN OUTPATIENT CLINICS AND SURGERY CENTERS, INCLUDING PLAINFIELD SURGERY CENTER, DMG SURGICAL CENTER AND NORTHERN ILLINOIS SURGERY CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Pres,edward Hosp&sth Institute | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee/vice Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Ceo, South Region/trustee | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee/chair | OfficerTrustee | 1 | $0 |
Name Not Listed Chief Medical Officer/trustee | Trustee | 34 | $470,265 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northwestern Med Faculty Foundation Contract For Neurosurgeon Services | 12/30/22 | $3,683,336 |
Rush Medical Center Contract For Pediatric Services | 12/30/22 | $1,039,350 |
Jericho Services Cleaning Services | 12/30/22 | $1,015,773 |
Personalized Physicians Group Contract For Doctor Services | 12/30/22 | $177,600 |
Addison Group Consulting Services | 12/30/22 | $129,237 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $157,108,567 |
| Investment income | $17,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $157,125,664 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,012,738 |
| Compensation of current officers, directors, key employees. | $102,359 |
| Compensation to disqualified persons | $449,432 |
| Other salaries and wages | $143,894,911 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,837,875 |
| Payroll taxes | $8,162,417 |
| Fees for services: Management | $32,168,253 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,536,305 |
| Advertising and promotion | $27,740 |
| Office expenses | $876,842 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,569,366 |
| Travel | $41,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,098,168 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,248,849 |
| Insurance | $3,003,887 |
| All other expenses | $239,481 |
| Total functional expenses | $249,827,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1,734,365 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,215,558 |
| 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 | $641,208 |
| Net Land, buildings, and equipment | $89,212,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,545,552 |
| Intangible assets | $0 |
| Other assets | $32,073,476 |
| Total assets | $131,953,780 |
| Accounts payable and accrued expenses | $29,132,411 |
| 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 | $37,444,453 |
| Total liabilities | $66,576,864 |
| Net assets without donor restrictions | $65,376,916 |
| 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 | $131,953,780 |