St. Joseph's Hospitals Foundation

What it reported doing in 2024

The foundation distributed over $4.8 million in grants back to the five st. Joseph's hospitals in hillsborough county for new equipment, scholarships, and programs in 2024. Over $3.3 million was distributed to purchase innovative lifesaving equipment and $1.5 million was distributed for a variety of patient-focused programs and team members in crisis across many departments. Some of the highlights include: $1.27 million in new equipment, including a new mobile 2d and 3d c-arm, teaching equipment for the heart & vascular institute, 2 new ultrasound machines, and a new portable handheld imager using fluorescence imaging technology for surgeries. (continued on schedule o).$1.36 million in buildout and furnishings for the new ronald mcdonald house at st. Joseph's children's hospital and the extensive renovation and make over of the lobby of st. Joseph's women's hospital, unveiling the brand new dutkowsky family lobby of st. Joseph's women's hospital in december of 2024. $680,000 for equipment for the pediatric intensive care unit (picu) at st. Joseph's children's hospital, including a mobile mri system allowing mris at the patient's bedside, four new dialysis machines, and a new ultrasound machine. $892,000 for operating expenses for programs across many departments focusing on patient support and improving patient experience. Over $600,000 was distributed to st. Joseph's children's hospital alone focusing on child life programs, nursing scholarships, mental health care services for families and bereavement support. $604,000 for team member emergency assistance funding was distributed in 2024. Assistance to team members of st. Joseph's hospitals who needed financial support was $64,000. Additionally, because of the hurricanes that hit our area in 2024, an additional $540,000 in financial assistance was provided to team members of baycare who sustained damage to their homes as a result of the storms. This was funded by team members and the community who donated funds for this purpose.

Financial Efficiency

• Mission deployment rate: 13%; rating input score 13
• Program expense ratio: 70.2%; rating input score 70
• Fundraising efficiency: $30.21 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Missing
  • 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: 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: 85.2%; rating input score 99; 99th percentile among comparable filings
• Total-asset coverage ratio: 9.49; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 91; 91st percentile among comparable filings
• Officer compensation ratio: 11.2%; rating input score 2; 2nd percentile among comparable filings

Growth

• Program expense growth: 11.7% per year; rating input score 100; 80th percentile among comparable filings
• Revenue growth: 19.5% per year; rating input score 100; 93rd percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings