Holy Cross Health

Legal name: Holy Cross Health Inc

Nonprofit profile at a glance

EIN
520738041
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Silver Spring, MD, USA
Phone
3017547000
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$779,660,303
Expenses
$714,809,234
Assets
$1,224,124,529
Liabilities
$486,638,826

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

Leadership & pay

39 people listed

Executive titles in this filing

  • LOUIS DAMIANO MD (PRESIDENT OF HCH & HCGH THR 10/24)
  • DOUG STRONG (DIR, INTERIM PRES & CEO THR 12/24)
  • ANDRE BOYD (DIRECTOR, PRESIDENT & CEO AS OF 1/25)

Highest reported compensation

  • JULIE WASHINGTON (DIR AT 1/25, TRINITY SVP MKTG & COM): $1,817,389 total reported compensation
  • LOUIS DAMIANO MD (PRESIDENT OF HCH & HCGH THR 10/24): $1,221,557 total reported compensation
  • GRIFFIN DAVIS MD (CHIEF CLINICAL OFFICER THRU 8/24): $911,361 total reported compensation

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

Overview

Mission

_We, Holy Cross Health and Trinity Health, serve together in the spirit of the Gospel as a compassionate and transforming healing presence within our communities._ Our Core Values. Our Vision As a mission-driven innovative health organization, we will become the national leader in improving the health of our communities and each person we serve. We will be your most trusted health partner for life. Go to homepage. As a mission-driven innovative health organization, we will become the national leader in improving the health of our communities and each person we serve. Go to homepage Find a Doctor Find a Location Find a Service Tools & Resources.

What it reported doing in 2024

Holy cross health is a not-for-profit health system in montgomery county, md., dedicated to improving the health of its community for more than 60 years. Holy cross serves over 160,000 patients each year through a full range of inpatient, outpatient and innovative community-based services. Holy cross has grown from a single hospital located in silver spring, md., into a system of hospitals and health centers in locations throughout the community. Holy cross germantown hospital opened october 1, 2014 and is the first hospital in the nation to be located on a college campus. Care is enhanced by an educational partnership, and includes high-quality medical, surgical, obstetric, emergency, and behavioral health services. Holy cross health centers are located in silver spring, gaithersburg, germantown and aspen hill.for more information see schedule h and the hospital website: www.holycrosshealth.org.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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: 72
  • Transparency & Controls: 67
  • Accountability: 76
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.4%; rating input score 78
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 17th 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: 68.2%; rating input score 68; 14th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 75%; rating input score 75; 24th 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.3%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0.7%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 44th percentile among comparable filings

Details

  • What they do: 7 programs and campaigns described on the official site
  • Where the money goes: 78.4% of revenue deployed · 86.7% of spending went to programs
  • Governance: 12 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $619.9M in reported program spending
  • Leadership: top reported pay $1.8M · 39 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $19.8M reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 311 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: 2 of 9 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.