Inova Health Foundation

What it reported doing in 2024

Inova health system foundation (ihsf), the parent company of inova health system, is a non-stock, not-for-profit corporation exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. Inova health system (inova) provides healthcare and related services throughout northern Virginia and the greater metropolitan Washington, d.c. Area, including certain contiguous counties of Virginia and Maryland.since its initiation by citizen-volunteers in 1956, inova and its affiliates have grown to meet the changing needs of a diverse and growing population. As a not-for-profit organization, inova does not have shareholders. It is governed by the people it serves: members of the community. This model of governance helps to ensure that inova meets the unique healthcare needs of the community.in keeping with inova's community service mission, inova and its affiliates provide a wide range of programs and services which directly benefit the community they serve. These include: providing the highest quality medical care to all members of the community, regardless of their ability to pay.providing free and below cost health services to meet the identified needs of community groups, such as: the indigent and elderly; victims of cancer, heart disease, and stroke; persons affected by substance abuse; HIV-positive individuals; and others. Providing uncompensated care in accordance with inova policies which ensure access to medically necessary care for all individuals. Charity care is defined as free or discounted healthcare services provided to persons who cannot afford to pay. Inova health system is one of the largest providers of uncompensated care in Virginia. Providing health education and a variety of other services to the community.training health professionals and participating in medical research activities. Inova health system is comprised of: inova health system foundation (foundation), a parent company, which also serves as a charitable foundation, raising funds to support inova's tax-exempt entities. The foundation operates in accordance with inova's articles of incorporation, which provide that all funds raised, except for those required for the operations of the foundation, be distributed or held in support of the charitable objectives and mission of inova and its tax-exempt subsidiaries. Funds raised are channeled to the community in the form of expanded medical and other community services. During 2024, foundation funds were used to elevate our philanthropic priorities of supporting inova's world-class cancer, cardiovascular, and behavioral health care programs and other areas, including those that rely heavily on philanthropic support such as inova peterson life with cancer, arts and healing, inova cares clinics, and the inova kellar center.inova health care services (ihcs) is a tax-exempt, non-stock corporation that serves the health care needs of the community by establishing, maintaining and operating hospital and health care facilities, programs, and other shared and integrated health care delivery arrangements. Ihcs operates the following facilities, among others: inova fairfax hospital ("fairfax"), inova mount vernon hospital ("mount vernon"), inova fair oaks hospital ("fair oaks"), inova loudoun hospital ("loudoun") and inova alexandria hospital ("alexandria"). Ihcs also provides and manages the clinical, non-hospital facilities and programs whose services include senior services, assisted living facilities, addiction treatment services for adults and adolescents, outpatient rehabilitation services, urgent care and other outpatient health care services. Ihcs also maintains a group of primary care and specialty physicians operated by its respective service line divisions and jointly managed by ihcs' physician services division. Inova has a joint venture with alternate solutions health network which restructured the management of the inova vna services. Inova maintains 51% ownership of

Financial Efficiency

• Mission deployment rate: 32.1%; rating input score 32
• Program expense ratio: 76.9%; rating input score 77
• Fundraising efficiency: $4.05 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 86.7%; rating input score 87; 33rd 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: 93.8%; rating input score 99; 99th percentile among comparable filings
• Total-asset coverage ratio: 166.38; rating input score 100; 100th percentile among comparable filings
• Liabilities to assets ratio: 0.33; rating input score 53; 53rd percentile among comparable filings
• Officer compensation ratio: 6.1%; rating input score 10; 10th percentile among comparable filings

Growth

• Program expense growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 78th percentile among comparable filings
• Asset growth: 8.5% per year; rating input score 100; 62nd percentile among comparable filings