Norton Healthcare Foundation Inc
Nonprofit profile at a glance
- EIN
- 310914919
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Louisville, KY, USA
- Phone
- 5026293409
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Fund Raising and/or Fund Distribution
Reported finances
- Revenue
- $14,814,328
- Expenses
- $11,462,640
- Assets
- $68,908,165
- Liabilities
- $2,413,571
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
36 people listed
Executive titles in this filing
- Russell F Cox (President & CEO)
Highest reported compensation
- Russell F Cox (President & CEO): $4,115,838 total reported compensation
- Michael W Gough (Exec VP and COO (partial year)): $3,217,019 total reported compensation
- Adam Kempf (Sr VP & CFAO): $1,659,943 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Through the generosity of donors, the norton healthcare foundation supports patient care, capital projects, education and research for the adult-service hospitals and affiliated organizations of norton healthcare.
What it reported doing in 2024
The Norton Healthcare Foundation is the philanthropic arm of the not-for-profit Norton Healthcare's adult services and four adult-service hospitals: Norton Audubon Hospital, Norton Brownsboro Hospital, Norton Hospital and Norton Women's & Children's Hospital. The Norton Healthcare Foundation raises funds each year to improve programs, equipment and facilities, research and education, enabling the hospitals to stay up to date with medical advances, technology and maintaining the community's access to high-quality health care. The Foundation was able to fund the following programs in 2024: * Pastoral care chaplain residency program * Norton Cancer Institute breast health and cancer prevention and education programs * Infectious Disease support * Expressive therapists for the Norton Cancer Institute Pat Harrison Resource Center * Fellowship director for Norton Leatherman Spine * Heel, Dog, Heal facility dog program * Patient Financial Assistance
Operating model
- Revenue model
- Donor-supported. 69% 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. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 79
- Accountability: 95
- Sustainability: 76
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.2%; rating input score 82
- Program expense ratio: 85.2%; rating input score 85
- Fundraising efficiency: $9.66 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 42nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 92%; rating input score 92; 24th 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: 22.6%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 6.01; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 86; 86th percentile among comparable filings
- Officer compensation ratio: 14.5%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 9.7% per year; rating input score 100; 69th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: 3.4% per year; rating input score 100; 26th percentile among comparable filings
Details
- Where the money goes: 82.2% of revenue deployed · 85.2% of spending went to programs
- Governance: 23 of 25 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $9.8M in reported program spending
- Leadership: top reported pay $4.1M · 36 people listed · 1 of 6 pay-setting controls reported
- Consistency: 35 of 35 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 12 filed money-flow records
- Related organizations: 12 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.
- Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
- High — Sustainability: Officer compensation ratio scored 9/100.