Ky Hospital Research & Education Foundation Inc
- Assets
- $6.9m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 02/1969
- Data as of
- 06/2022
- EIN
- 61-6052378
Organization Overview
Ky Hospital Research & Education Foundation Inc is located in Louisville, KY. The organization was established in 1969. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. KY Hospital Research & Education Foundation 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 06/2022, KY Hospital Research & Education Foundation Inc generated $14.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $13.9m during the year ending 06/2022. While expenses have increased by 33.4% 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 2015, KY Hospital Research & Education Foundation Inc has awarded 237 individual grants totaling $10,607,212. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CHARITABLE HEALTHCARE RESEARCH AND EDUCATIONAL ACTIVITIES FOR KY HOSPITALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTER KENTUCKY'S HOSPITAL AND DISASTER PREPAREDNESS ACTIVITIES INCLUDING EDUCATION AND TRAINING FOR HOSPITALS, HEALTH DEPARTMENTS, AND OTHER COMMUNITY HEALTH SERVICES EMPLOYEES RELATED TO EMERGENCY PREPAREDNESS IN KENTUCKY. COORDINATE PURCHASE OF EMERGENCY ANDDISASTER PREPAREDNESS EQUIPMENT AND EMERGENCY COMMUNICATIONS WITH KENTUCKY'S EMERGENCY MEDICAL SERVICES REGIONS.
ADMINISTER THE US DEPARTMENT OF HEALTH AND HUMAN SERVICES' ASPR COVID GRANT TO REIMBURSE HOSPITALS' COVID RELATED EXPENSES.PROVIDE EDUCATIONAL PROGRAMMING FOR HOSPITAL PERSONNEL IN THE AREAS OF COMPLIANCE, QUALITY, ACCREDITATION STANDARDS, AND MANAGEMENT TRAINING.
KY HOSPITAL RESEARCH & EDUCATION FOUNDATION (KHREF) WILL PROVIDE RESOURCES AND LEAD THE EFFORT FOR KENTUCKY HOSPITALS TO ADOPT THE HIGHEST LEVEL OF QUALITY AND HARM AVOIDANCE THAT FITS WITHIN THE KHA MISSION OF SUSTAINING AND IMPROVING THE HEALTH STATUS OF THE CITIZENS OF KENTUCKY. KHREF SEEKS TO EXPAND AND SUSTAIN A COMPREHENSIVE, EQUITABLE APPROACH TO ADDRESS ALL AVOIDABLE PATIENT HARM AND PROMOTE THE HIGHEST POSSIBLE HEALTH STATUS FOR ALL INDIVIDUALS THROUGHOUT KENTUCKY.
KY HOSPITAL RESEARCH & EDUCATION FOUNDATION (KHREF) WILL PROVIDE RESOURCES AND LEAD THE EFFORT FOR KENTUCKY HOSPITALS TO ADOPT THE HIGHEST LEVEL OF OPIOID STEWARDSHIP PERFORMANCE THAT FITS WITHIN THE KHA MISSION OF SUSTAINING AND IMPROVING THE HEALTH STATUS OF THE CITIZENS OF KENTUCKY. KHREF SEEKS TO EXPAND AND SUSTAIN A COMPREHENSIVE, EQUITABLE RECOVERY-ORIENTED SYSTEM OF CARE TO ADDRESS OPIOID USE DISORDER (OUD) AND STIMULANT USE DISORDER (SUD) FOR ALL INDIVIDUALS THROUGHOUT KENTUCKY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Galvagni President | OfficerTrustee | 1 | $0 |
Harold Warman Vice President | Officer | 6 | $0 |
Gerard Colman Director | Trustee | 0.6 | $0 |
Mark Newman Director | Trustee | 0.6 | $0 |
Kathy Stumbo Chair | OfficerTrustee | 0.6 | $0 |
Garren Colvin Past Chair | OfficerTrustee | 0.6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
480 Somerset Ky Llc General Public Warehousing | 6/29/22 | $390,000 |
Tierney Storage Llc General Public Warehousing | 6/29/22 | $325,407 |
Brushy Fork General Public Warehousing | 6/29/22 | $198,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $13,208,769 |
| All other contributions, gifts, grants, and similar amounts not included above | $896,253 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,105,022 |
| Total Program Service Revenue | $143,107 |
| Investment income | $31,518 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$962 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,278,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,240,990 |
| Grants and other assistance to domestic individuals. | $3,000 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,315,223 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,808 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,680 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,476 |
| Information technology | $10,558 |
| Royalties | $0 |
| Occupancy | $7,200 |
| Travel | $16,369 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $464,498 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,934,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,379,122 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $840,839 |
| 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 | $131,703 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,592,476 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,001,115 |
| Total assets | $6,945,255 |
| Accounts payable and accrued expenses | $629,459 |
| Grants payable | $0 |
| Deferred revenue | $3,940,447 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $290,287 |
| 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 | $4,648 |
| Total liabilities | $4,864,841 |
| Net assets without donor restrictions | $2,080,414 |
| 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 | $6,945,255 |
Grants Awarded
Over the last fiscal year, Ky Hospital Research & Education Foundation Inc has awarded $8,225,549 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
BOURBON COMMUNITY HOSPITAL PURPOSE: COVID-19 SUPPORT | $9,946 |
BLUEGRASS COMMUNITY HOSPITAL PURPOSE: COVID-19 SUPPORT | $21,533 |
CENTRAL STATE HOSPITAL PURPOSE: COVID-19 SUPPORT | $7,931 |
TUG VALLEY ARH REGIONAL MEDICAL CENTER PURPOSE: STATE CAAC FUNDS | $104,280 |
TJ HEALTH COLUMBIA PURPOSE: COVID-19 SUPPORT | $23,993 |
CLARK REGIONAL MEDICAL CENTER PURPOSE: COVID-19 SUPPORT / STATE CAAC FUNDS | $197,479 |