Norton Healthcare Inc
- Assets
- $2.8b
- Revenue
- $617.8m
- Investments
- $620.7m
- Employees
- 3,959
- Location
- Louisville, KY
- Founding
- 01/1984
- Data as of
- 12/2021
- EIN
- 61-1028725
Organization Overview
Norton Healthcare Inc is located in Louisville, KY. The organization was established in 1984. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. As of 12/2022, Norton Healthcare Inc employed 3,959 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norton Healthcare 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 12/2021, Norton Healthcare Inc generated $617.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $464.9m during the year ending 12/2021. While expenses have increased by 9.5% 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 2014, Norton Healthcare Inc has awarded 657 individual grants totaling $34,524,787. 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
NORTON HEALTHCARE'S PURPOSE IS TO PROVIDE QUALITY HEALTH CARE TO ALL THOSE WE SERVE, IN A MANNER THAT RESPONDS TO THE NEEDS OF OUR COMMUNITIES AND HONORS OUR FAITH HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTON HEALTHCARE INC. IS A NOT-FOR-PROFIT CORPORATION BASED IN LOUISVILLE, KENTUCKY. IN 2022, NORTON HEALTHCARE, THROUGH ITS AFFILIATE, NORTON HOSPITALS INC., HAD A TOTAL OF 1,993 LICENSED BEDS: NORTON AUDUBON HOSPITAL, 432 BEDS; NORTON BROWNSBORO HOSPITAL, 197 BEDS; NORTON CHILDREN'S HOSPITAL, 300 BEDS; NORTON HOSPITAL, 605 BEDS; NORTON WOMEN'S & CHILDREN'S HOSPITAL, 373 BEDS; AND NORTON KINGS' DAUGHTER'S HOSPITAL, 86 BEDS. THESE SIX HOSPITALS OPERATE 24 HOURS A DAY, SEVEN DAYS A WEEK. NORTON PHARMACIES PLLC, A DISREGARDED ENTITY OF NORTON HEALTHCARE, INC. OPERATES FIVE RETAIL PHARMACIES AND ONE SPECIALTY PHARMACY THAT DISPENSE MEDICATIONS FOR THE CONVENIENCE OF NORTON HEALTHCARE'S PATIENTS AND EMPLOYEES. (CONTINUED IN SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President & Ceo/trustee | OfficerTrustee | 30 | $4,778,102 |
Name Not Listed Trustee | Trustee | 1 | $2,000 |
Name Not Listed Trustee (partial Year) | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 3 | $2,000 |
Name Not Listed Trustee | Trustee | 1 | $2,000 |
Name Not Listed Trustee | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Firstsource Solutions Usa Llc Patient Financial Services | 12/30/22 | $7,724,496 |
The Csi Companies Inc Consulting | 12/30/22 | $4,828,785 |
Huron Consulting Services Llc Consulting | 12/30/22 | $7,668,337 |
Knowbrist Corp Contract Labor | 12/30/22 | $3,035,553 |
Vocera Communications Inc Support For Clinical Alarms And Alert Systems | 12/30/22 | $2,408,435 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,257,661 |
| Investment income | $32,193,579 |
| Tax Exempt Bond Proceeds | $180,552 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $130,805,466 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $617,825,151 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $305,747 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $16,501,397 |
| Compensation to disqualified persons | $174,353 |
| Other salaries and wages | $158,580,757 |
| Pension plan accruals and contributions | $7,330,800 |
| Other employee benefits | $20,120,280 |
| Payroll taxes | $13,233,630 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,325,524 |
| Fees for services: Accounting | $750,119 |
| Fees for services: Lobbying | $120,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,335,505 |
| Fees for services: Other | $70,753,169 |
| Advertising and promotion | $0 |
| Office expenses | $6,440,735 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,601,842 |
| Travel | $602,721 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,789,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,206,326 |
| Insurance | $25,883,673 |
| All other expenses | $0 |
| Total functional expenses | $464,873,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,310,908 |
| Savings and temporary cash investments | $104,339,390 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,106,863 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,152,545 |
| Prepaid expenses and deferred charges | $64,805,861 |
| Investments—publicly traded securities | $1,657,061,621 |
| Investments—other securities | $620,654,574 |
| Investments—program-related | $21,775,973 |
| Intangible assets | $0 |
| Other assets | $128,417,320 |
| Total assets | $2,835,434,005 |
| Accounts payable and accrued expenses | $248,853,414 |
| Grants payable | $5,225,496 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,427,824,227 |
| 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 | $1,031,615,458 |
| Total liabilities | $2,713,518,595 |
| Net assets without donor restrictions | $120,973,742 |
| Net assets with donor restrictions | $941,668 |
| 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 | $121,915,410 |
Grants Awarded
Over the last fiscal year, Norton Healthcare Inc has awarded $8,398,597 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
GOODWILL INDUSTRIES OF KENTUCKY INC PURPOSE: Support the construction and operation of the Goodwill Campus in West Louisville. Assist Goodwill's mission and become involved in the Campus. | $4,000,000 |
BATES COMMUNITY DEVELOPMENT CORPORATION PURPOSE: Support to help strengthen and expand Bates' Healthy Hearts and Lifestyles program to address the unique health care needs that exist within Louisville's Smoketown and Shelby Park neighborhoods. | $1,400,000 |
RONALD MCDONALD HOUSE CHARITIES OF KENTUCKIANA INC PURPOSE: Support the expansion of RMH's provision of temporary accommodations for families of children receiving care within Louisville Medical Center | $1,000,000 |
BOARD OF EDUCATION OF JEFFERSON COUNTY KENTUCKY PURPOSE: Program support to ensure that trainers and sports medicine experts are available and support of baseline concussion testing. | $570,000 |
UNIVERSITY OF KENTUCKY PURPOSE: Support University Pharmacy College programs and support UK Leadership Program for annual graduate student scholarship | $210,000 |
KENTUCKY STATE TREASURERTEAM KENTUCKY COVID-19 MEMORIAL FUND PURPOSE: General program support Team Kentucky COVID-19 Memorial Fund | $75,000 |