Norton Healthcare Inc
- Assets
- $2.7b
- Revenue
- $492.3m
- Investments
- $543.9m
- Employees
- 2,994
- Location
- Louisville, KY
- Founding
- 01/1984
- Data as of
- 12/2020
- 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 12/2021, Norton Healthcare Inc employed 2,994 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 12/2020, Norton Healthcare Inc generated $492.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $431.0m during the year ending 12/2020. While expenses have increased by 9.8% 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.
Since 2014, Norton Healthcare Inc has awarded 584 individual grants totaling $26,126,190. 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
2020
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 2021, NORTON HEALTHCARE, THROUGH ITS AFFILIATE, NORTON HOSPITALS INC., HAD A TOTAL OF 1,907 LICENSED BEDS: NORTON AUDUBON HOSPITAL, 432 BEDS; NORTON BROWNSBORO HOSPITAL, 197 BEDS; NORTON CHILDREN'S HOSPITAL, 300 BEDS; NORTON HOSPITAL, 605 BEDS; AND NORTON WOMEN'S & CHILDREN'S HOSPITAL, 373 BEDS. THESE FIVE HOSPITALS OPERATE 24 HOURS A DAY, SEVEN DAYS A WEEK. (CONTINUED IN SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Firstsource Solutions Usa Llc Patient Financial Services | 12/30/21 | $6,974,739 |
Doe-anderson Inc Marketing | 12/30/21 | $3,707,130 |
Brooksource Consulting | 12/30/21 | $5,589,018 |
The Csi Companies Inc Consulting | 12/30/21 | $3,383,800 |
Vocera Communications Inc Support For Clinical Alarms And Alert Systems | 12/30/21 | $3,312,035 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,756,733 |
| Government grants | $4,635 |
| 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 | $1,761,368 |
| Total Program Service Revenue | $420,130,148 |
| Investment income | $22,161,569 |
| Tax Exempt Bond Proceeds | $546,108 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $41,890,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $492,316,959 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,986,638 |
| Grants and other assistance to domestic individuals. | $246,896 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $16,813,811 |
| Compensation of current officers, directors, key employees. | $7,740,467 |
| Compensation to disqualified persons | $104,943 |
| Other salaries and wages | $154,808,411 |
| Pension plan accruals and contributions | $6,761,363 |
| Other employee benefits | $16,580,333 |
| Payroll taxes | $12,284,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,272,250 |
| Fees for services: Accounting | $943,945 |
| Fees for services: Lobbying | $120,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,275,689 |
| Fees for services: Other | $63,494,527 |
| Advertising and promotion | $0 |
| Office expenses | $4,069,881 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,136,383 |
| Travel | $520,806 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,502,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,840,848 |
| Insurance | $30,183,845 |
| All other expenses | $4,900,792 |
| Total functional expenses | $430,991,720 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,122,625 |
| Savings and temporary cash investments | $185,147,524 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,248,876 |
| Loans from Officers, Directors, or Controlling Persons | $3,266 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,940,926 |
| Prepaid expenses and deferred charges | $48,887,387 |
| Net Land, buildings, and equipment | $87,539,984 |
| Investments—publicly traded securities | $1,684,333,129 |
| Investments—other securities | $543,906,777 |
| Investments—program-related | $21,775,973 |
| Intangible assets | $0 |
| Other assets | $36,302,882 |
| Total assets | $2,709,209,349 |
| Accounts payable and accrued expenses | $226,501,636 |
| Grants payable | $4,204,074 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,471,207,784 |
| 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 | $1,122,577,019 |
| Total liabilities | $2,824,490,513 |
| Net assets without donor restrictions | -$116,125,005 |
| Net assets with donor restrictions | $843,841 |
| 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 | $2,709,209,349 |
Grants Awarded
Over the last fiscal year, Norton Healthcare Inc has awarded $4,052,237 in support to 77 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: Support Nursing, sports medicine, healthcare analytics and student health services | $2,055,097 |
JEFFERSON COUNTY PUBLIC SCHOOLS PURPOSE: Program support to ensure that trainers and sports medicine experts are available in the county and support of baseline concussion testing. | $360,000 |
Louisville, KY PURPOSE: Support the United Community System by linking information and referrals between the health, education and social sectors more effectively and general support the engagement of community and volunteerism | $245,000 |
UNIVERSITY OF KENTUCKY PURPOSE: Support University Pharmacy College general support School of Journalism | $200,600 |
Louisville, KY PURPOSE: Program support of leadership programming | $61,950 |
LIGHTER THAN AIR BALLOON ADVENTURE LLC PURPOSE: Support to provide hot air balloon ride certificates to other not for profit organizations | $55,360 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Norton Healthcare Inc has recieved totaling $1,834,424.
| Awarding Organization | Amount |
|---|---|
Childrens Hospital Foundation Louisville, KY PURPOSE: FUNDING OF CAPITAL PROJECTS, PROGRAMS AND SERVICES | $1,047,037 |
Norton Healthcare Foundation Inc Louisville, KY PURPOSE: FUNDING OF CAPITAL PROJECTS, PROGRAMS AND SERVICES | $763,259 |
Brandon S Bourbon Chandler, AZ PURPOSE: PROGRAM SUPPORT | $14,128 |
Leighton-Oare Foundation Inc Niles, MI PURPOSE: GENERAL | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ssm Health Care Corporation St Louis, MO | $4,485,127,106 | $1,033,534,741 |
Parkview Health System Inc Fort Wayne, IN | $2,712,217,032 | $933,221,094 |
Bjc Health System St Louis, MO | $5,456,592,622 | $1,155,105,032 |
University Hospitals Health System Inc Shaker Heights, OH | $6,082,138,000 | $960,105,000 |
Aultman Health Foundation Group Return Canton, OH | $450,362,832 | $880,954,681 |
Appalachian Regional Healthcare Inc Lexington, KY | $1,267,201,787 | $817,287,479 |
Memorial Health Care System Inc Chattanooga, TN | $833,500,042 | $655,181,018 |
Wellmont Health System Johnson City, TN | $425,394,041 | $662,198,822 |
Virginia Hospital Center Arlington Health System Arlington, VA | $1,877,524,577 | $673,514,509 |
West Virginia University Medical Corporation Morgantown, WV | $212,648,584 | $571,153,959 |
Owensboro Health Regional Hospital Owensboro, KY | $1,685,340,581 | $709,904,993 |
Adena Health System Chillicothe, OH | $876,980,484 | $590,625,475 |