Baptist Health Foundation

Legal name: Baptist Health Foundation Floyd Inc

Nonprofit profile at a glance

EIN
922389529
IRS 990 coverage
2022–2024
Official website data refreshed
Nov 2026
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
502-259-3723
Rating
62
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Single Organization Support
Affiliation
Christianity

Official website

Reported finances

Revenue
$602,104
Expenses
$284,608
Assets
$668,159
Liabilities
$553

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Michael Schroyer (President & Director)

Highest reported compensation

  • Richard F Carrico (Treasurer): $1,666,118 total reported compensation
  • Janet M Norton (Secretary): $1,252,551 total reported compensation
  • Michael Schroyer (President & Director): $736,595 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 demonstrate the love of Christ by providing and coordinating care and improving health in our communities.

What it reported doing in 2024

The primary purpose of Baptist Health Foundation Floyd is to promote philanthropy and charitable giving to provide resources to assist, advance, and strengthen Baptist Health Floyd, a hospital owned and operated by Baptist Healthcare System, Inc., in fulfilling the mission of the hospital and Baptist Healthcare System, Inc. providing for the region's health needs. Baptist Health Floyd provides medically necessary care to all patients regardless of race, religion, sex, national origin, disability, age or ability to pay. Donations made to Baptist Health Foundation Floyd are used to support patient care and the capital needs of Baptist Health Floyd hospital.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 76% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 35
  • Transparency & Controls: 76
  • Accountability: 82
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.8%; rating input score 25
  • Program expense ratio: 50%; rating input score 50
  • Fundraising efficiency: $9.58 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 91.7%; rating input score 92; 24th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 52.7%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 2.35; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 50.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 96.8% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 73% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 102.6% per year; rating input score 100; 99th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 24.8% of revenue deployed · 50% of spending went to programs
  • Governance: 11 of 12 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $142K in reported program spending
  • Leadership: top reported pay $1.7M · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 16 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 — Financial Efficiency: Mission deployment rate scored 25/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.