Norton WLH Real Estate Inc

Nonprofit profile at a glance

EIN
331241700
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5026298249
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health, General and Financing

Official website

Reported finances

Revenue
$50,311,429
Expenses
$469,106
Assets
$81,075,378
Liabilities
$31,233,055

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Russell Cox (President)

People named in this filing

  • Adam Kempf (Trustee, Treasurer)
  • Robert Azar (Trustee, Secretary)
  • Charles Leanhart (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Norton WLH Real Estate, Inc. is organized to assist Norton Hospitals, Inc. in support of its community healthcare and other nonprofit endeavors.

What it reported doing in 2024

On September 30, 2024 Norton WLH Real Estate, Inc. (WLH) was formed and is organized and at all times shall be operated exclusively for the benefit of Norton Hospitals, Inc. (Norton) which will rent the property owned by WLH and run it as a community hospital facility. Norton has decades of experience running similar facilities in the Southeast and this venture furthers Norton's charitable purposes. WLH has leased to Norton land and building to be operated as a community hospital.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 100
  • Accountability: 77
  • Sustainability: 94
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.9%; rating input score 1
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 16th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 99.1%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 172.83; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 98; 98th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0.9% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $469K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 1/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.