HealthWell Foundation
Nonprofit profile at a glance
- EIN
- 200413676
- IRS 990 coverage
- 2011–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Germantown, MD, US
- Phone
- 2406325305
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Health - General and Rehabilitative N.E.C.
Reported finances
- Revenue
- $911,501,566
- Expenses
- $603,213,244
- Assets
- $918,189,028
- Liabilities
- $42,209,550
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- Krista Zodet Term 224 (PRESIDENT & CEO)
- David L Knowlton (Board Chair and Interim CEO)
- Michael S Heimall (PRESIDENT & CEO)
Highest reported compensation
- Alan Klein term 1224 (Chief Development Officer): $385,104 total reported compensation
- Richa Dahiya (Chief Financial Officer): $326,636 total reported compensation
- Fred Asiedu Larbi (Chief Operations Officer): $322,020 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 reduce financial barriers to care for underinsured patients with chronic or life-altering diseases. The HealthWell Foundation is an independent, non-profit organization supported by contributions from corporations and private individuals, many of whom have been touched by the work we do. Making the Most of Your Donation HealthWell has a proven track record of using donations effectively and efficiently. We take pride in being consistently lean so we can stretch our dollars and provide maximum direct financial support to people who come to us. This is our mission and our commitment. All administrative and fundraising costs are financed by HealthWell and are not taken out of any donation, which means that 100 percent of your donation goes directly to patient grants and services.
What it reported doing in 2024
The HealthWell Foundation is a leading independent non-profit dedicated to improving access to health care for America's underinsured. When health insurance is not enough, we fill the gap by assisting with copays, premiums, deductibles and out-of-pocket expenses. In 2024, we awarded more than $1.2 billion in grants through our Disease Funds, and since 2004 we have helped more than 1,100,000 patients afford essential treatments and medications. HealthWell is recognized as one of America's most efficient charities - 100 percent of every dollar donated goes directly to patient grants and services. We provide financial assistance to help with: Prescription copays Health insurance premiums, deductibles and coinsurance Pediatric treatment costs Travel costs Behavioral health services
Operating model
- Revenue model
- Donor-supported. 97% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 96% 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. Total assets are small relative to annual expenses; liquid coverage is unknown and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 89
- Accountability: 100
- Sustainability: 80
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.1%; rating input score 66
- Program expense ratio: 98.5%; rating input score 98
- Fundraising efficiency: $591.98 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.8%; rating input score 94; 25th 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: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 33.8%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 1.52; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 89; 89th percentile among comparable filings
- Officer compensation ratio: 0.5%; rating input score 83; 83rd percentile among comparable filings
Growth
- Program expense growth: 20.2% per year; rating input score 100; 92nd percentile among comparable filings
- Revenue growth: 20% per year; rating input score 100; 94th percentile among comparable filings
- Asset growth: 19.4% per year; rating input score 100; 92nd 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: 66.1% of revenue deployed · 98.5% of spending went to programs
- Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $594.1M in reported program spending
- Leadership: top reported pay $385K · 20 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.7M reported
- Consistency: 33 of 34 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 22 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.