Carle Health
Legal name: The Carle Foundation
Nonprofit profile at a glance
- EIN
- 370673465
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Urbana, IL, US
- Phone
- (217) 383-3311
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Health Systems
Reported finances
- Revenue
- $693,331,990
- Expenses
- $641,458,723
- Assets
- $3,261,726,458
- Liabilities
- $1,438,572,621
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- JAMES C LEONARD MD (EX-OFFICIO, OFFICER - PRESIDENT & CEO)
- MATTHEW KOLB JD MHA (OFFICER - PRESIDENT, CARLE HEALTH REGIONS // EVP, CHIEF OPERATING OFFICER)
- COLLEEN KANNADAY (PRESIDENT, CARLE HEALTH - CENTRAL REGION)
- ELIZABETH ANGELO DNP RN-BC (PRESIDENT, CARLE HEALTH - EAST REGION // CHIEF NURSING OFFICER)
Highest reported compensation
- JAMES C LEONARD MD (EX-OFFICIO, OFFICER - PRESIDENT & CEO): $2,348,482 total reported compensation
- MATTHEW KOLB JD MHA (OFFICER - PRESIDENT, CARLE HEALTH REGIONS // EVP, CHIEF OPERATING OFFICER): $1,752,332 total reported compensation
- DENNIS HESCH (OFFICER - EVP, CHIEF FINANCE & STRATEGY OFFICER): $1,507,677 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To serve by delivering world-class care, conducting impactful medical research and training the providers and caregivers of tomorrow.
What it reported doing in 2024
The carle foundation is organized and at all times operates exclusively for the benefit of, to perform the functions of, and to carry out the purposes of the following healthcare organizations which are affiliated with the corporation through the provision of financial and management assistance: the carle foundation hospital, carle bromenn medical center, carle eureka hospital, hoopeston community memorial hospital d/b/a carle hoopeston regional health center, richland memorial hospital d/b/a carle richland memorial hospital, the methodist medical center of Illinois d/b/a carle health methodist hospital, proctor hospital d/b/a carle health proctor hospital, pekin memorial hospital d/b/a carle health pekin hospital, carle health care incorporated d/b/a carle physician group, the carle development foundation d/b/a carle health center for philanthropy, or any other not-for-profit corporation that is or becomes affiliated with the corporation, or any of the health care organizations described in this section, which qualifies for exemption from federal income tax under section 501(c)(3) and as a public charity under sections 509(a)(1) or (2) of the code. The carle foundation: (a) serves as the parent corporation for an integrated health care delivery network (b) provides financing and management assistance to the organizations described above (c) acquires, owns, uses, leases as lessor or lessee, conveys and otherwise deals in and with real property and any interest therein, all in support of or in furtherance of the charitable purposes of the organizations described above (d) contracts with other organizations (for profit and not-for-profit), with individuals, and with governmental agencies in support of, or in furtherance of, the charitable purposes of the organizations described above and (e) owns or operates facilities or owns other assets for public use and welfare in furtherance of the charitable purposes of the organizations described above.
Operating model
- Revenue model
- Other-operating. 92% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 99% 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 - 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 a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 41
- Transparency & Controls: 81
- Accountability: 82
- Sustainability: 67
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47%; rating input score 47
- Program expense ratio: 43.6%; rating input score 44
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- 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: 69.2%; rating input score 69; 20th 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: 7.5%; rating input score 66; 66th percentile among comparable filings
- Total-asset coverage ratio: 5.08; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.44; rating input score 41; 41st percentile among comparable filings
- Officer compensation ratio: 2.2%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: 7.5% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 8.2% per year; rating input score 100; 60th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 47% of revenue deployed · 43.6% of spending went to programs
- Governance: 9 of 13 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $279.8M in reported program spending
- Leadership: top reported pay $2.3M · 29 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $51M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 20 filed money-flow records
- Related organizations: 59 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
- Moderate — Financial Efficiency: Program expense ratio scored 44/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 41/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.