Advocate Health Inc

Nonprofit profile at a glance

EIN
884157429
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Charlotte, NC, USA
Phone
4142991576
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$333,741
Expenses
$2,174,126
Assets
$105,054,164
Liabilities
$106,894,549

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

42 people listed

Executive titles in this filing

  • EUGENE WOODS (CHIEF EXECUTIVE OFFICER)
  • JAMES SKOGSBERGH (CO-CHIEF EXECUTIVE OFFICER)
  • WILLIAM SANTULLI (PRESIDENT MIDWEST REGION)
  • GABRIELLE FINLEY-HAZLE (DIVISON PRESIDENT, WISCONSIN)
  • DIA NICHOLS (DIVISON PRESIDENT, ILLINOIS)

Highest reported compensation

  • JAMES SKOGSBERGH (CO-CHIEF EXECUTIVE OFFICER): $30,862,679 total reported compensation
  • EUGENE WOODS (CHIEF EXECUTIVE OFFICER): $25,781,275 total reported compensation
  • WILLIAM SANTULLI (PRESIDENT MIDWEST REGION): $7,866,221 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To supervise and manage an integrated academic and community health system that is steeped in innovation and poised to reshape the delivery of healthcare along with achieving the highest and safest outcomes in the communities it serves.

What it reported doing in 2024

The organization was organized to operate exclusively for the benefit of, perform the functions of, carry out the purposes of, and support a combined enterprise of multiple health systems and tax-exempt organizations, including the charlotte-mecklenburg hospital authority, a hospital authority located in North Carolina, and other tax-exempt organizations affiliated with atrium health, inc. (a health system of multiple tax-exempt organizations and one North Carolina hospital authority located in North Carolina, South Carolina, Georgia, and Alabama), and advocate aurora health, inc. (a health system of multiple tax-exempt and taxable organizations located in Wisconsin and Illinois).

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 89
  • Accountability: 82
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85%; rating input score 85; 22nd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -551.4%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 48.32; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 1,889.8%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 150% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 84% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 20 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $27M in reported program spending
  • Leadership: top reported pay $30.9M · 42 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $32.6M reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 48 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Series program expenses within total did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.