Baptist Health Foundation

Legal name: Baptist Health Foundation Richmond Inc

Nonprofit profile at a glance

EIN
311506378
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Louisville, KY, United States
Phone
502-259-3723
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Children's, Youth Services
Affiliation
Christianity

Official website

Reported finances

Revenue
$1,168,347
Expenses
$1,322,129
Assets
$9,434,780
Liabilities
$38,904

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

Leadership & pay

25 people listed

Executive titles in this filing

  • Greg Gerard (President & Director)
  • Kari Lyons Martin (Vice President)

Highest reported compensation

  • Richard F Carrico (Treasurer): $1,666,118 total reported compensation
  • Janet Norton (Secretary): $1,252,551 total reported compensation
  • Greg Gerard (President & Director): $531,396 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. Donors are strengthening the workforce and making a lasting impact on communities they serve. Learn More Philanthropic gifts help new mothers feel confident and prepared as they begin life with their newborns. Learn More Discover how genetic testing is making proactive cancer care possible and why donor contributions are vital. Learn More. Discover how genetic testing is making proactive cancer care possible and why donor contributions are vital. Learn More The Baptist Health Behavioral Health Mobile Clinic gives students a safe space to express their thoughts and emotions. Learn More Donor support has helped provide advanced training for nurses and install NICU cameras so families can stay connected.

What it reported doing in 2024

The primary purpose of Baptist Health Foundation Richmond is to foster philanthropy and charitable giving that will provide resources to assist, advance and strengthen Baptist Health Richmond Hospital in fulfilling its mission, and the mission of Baptist Healthcare System, Inc. to address the region's healthcare needs. Baptist Health Foundation Richmond provides greater continuity and uniformity in the control, management, and distributions of gifts, bequests, donations, and benefactions received for the benefit of Baptist Health Richmond hospital and Baptist Healthcare System, Inc. Baptist Health Richmond 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 Richmond are used exclusively to support patient care, education and the capital needs of Baptist Health Richmond Hospital.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 90% 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 75
  • Accountability: 88
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: $12.19 raised per $1 spent on fundraising; rating input score 44; 44th 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: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 25th 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: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.2%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 7.14; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 85.9% of spending went to programs
  • Governance: 19 of 20 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $1.7M · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2010 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.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.