Baptist Health Foundation Greater Louisville Inc
Nonprofit profile at a glance
- EIN
- 200292291
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024
- Location
- Louisville, KY, USA
- Phone
- 5028967495
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Single Organization Support
- Affiliation
- Christianity
Reported finances
- Revenue
- $4,457,120
- Expenses
- $6,218,743
- Assets
- $20,903,262
- Liabilities
- $144,278
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
34 people listed
Executive titles in this filing
- Jonathan Velez MD (President & Director)
Highest reported compensation
- Richard F Carrico (Treasurer): $1,666,118 total reported compensation
- Janet Norton (Secretary): $1,252,551 total reported compensation
- Jonathan Velez MD (President & Director): $761,749 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Baptist Health Foundation Greater Louisville is a nonprofit, non-stock corporation that promotes philanthropy and charitable giving to provide resources that assist, advance, and strengthen Baptist Health Louisville, a hospital owned and operated by Baptist Healthcare System, Inc. The Foundation supports Baptist Health's mission and ministry of healing in its role as a trusted community health center, provides educational opportunities for students in health-related fields, and supports other related health and humanitarian endeavors. Baptist Healthcare System, Inc. is recognized as a tax-exempt organization under Section 501(c)(3) and classified as a public charity under Section 509(a)(1). The Foundation operates exclusively for the benefit of Baptist Healthcare System, Inc., to perform its functions and carry out its mission and purposes.
What it reported doing in 2024
The primary purpose of Baptist Health Foundation Greater Louisville is to encourage, solicit, receive and administer gifts, bequests, donations and benefactions made to the Foundation for the benefit of Baptist Health Louisville Hospital and to provide greater continuity and uniformity in the control, management and distribution of gifts, bequests, donations and benefactions. Baptist Health Foundation Greater Louisville works to further the missions of Baptist Health Louisville Hospital and Baptist Healthcare System, Inc. Baptist Health Louisville Hospital 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 Greater Louisville are used to support patient care, provide educational assistance and fund capital needs of Baptist Health Louisville Hospital.
Operating model
- Revenue model
- Donor-supported. 81% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 76
- Accountability: 83
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 89.2%; rating input score 89
- Fundraising efficiency: $10.57 raised per $1 spent on fundraising; rating input score 39; 39th 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; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 95.5%; rating input score 95; 26th 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: -39.5%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 3.36; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 65; 65th percentile among comparable filings
Growth
- Program expense growth: 9.6% per year; rating input score 100; 63rd percentile among comparable filings
- Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 89.2% of spending went to programs
- Governance: 21 of 22 board members independent · 6 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $5.5M in reported program spending
- Leadership: top reported pay $1.7M · 34 people listed · 0 of 6 pay-setting controls reported
- Consistency: 26 of 26 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
- Filing history: 11 filing years from 2013 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
- High — Sustainability: Operating margin scored 3/100.