The Children's Hospital Foundation Inc

Nonprofit profile at a glance

EIN
616027530
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5026293409
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$32,089,052
Expenses
$19,567,923
Assets
$142,334,940
Liabilities
$3,863,755

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

Leadership & pay

40 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

Support from the Children's Hospital Foundation allows the pediatric specialists at Norton Children's Hospital to continue to respond to the unique medical needs of children from birth to age 18, and in some cases through adulthood. It also supports the hospital's health and wellness prevention initiatives, as well as any pediatric-related needs of all other organizations affiliated with Norton Healthcare

What it reported doing in 2024

The Children's Hospital Foundation (dba Norton Children's Hospital Foundation) raises funds for Norton Children's Hospital, Kentucky's only full-service, free-standing pediatric hospital; servicing Norton Children's Medical Center, Norton Women's & Children's Hospital, as well as all Norton affiliated organizations in need of supporting pediatric programs, equipment and facilities, research, advocacy and education. The Children's Hospital Foundation is motivated to ensure that children from throughout Greater Louisville have the medical care they need when they need it, while keeping kids as close to home as possible. Support from the Norton Children's Hospital Foundation allows the pediatric specialists of Norton Children's facilities and pediatric services to continue to respond to the unique medical needs of children from birth to age 18, and in some cases through adulthood. Norton Children's Hospital is Louisville's only Level I Pediatric Trauma Center and the primary teaching facility for the U of L School of Medicine Department of Pediatrics. Major programs funded in 2024 included: * Operational funding for the Norton Children's Prevention & Wellness team, including Safety City and No Kid Hungry, as well as additional education and outreach * Expansion of the Heal Dog Heal Program

Operating model

Revenue model
Donor-supported. 77% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 76
  • Accountability: 98
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54%; rating input score 54
  • Program expense ratio: 73.1%; rating input score 73
  • Fundraising efficiency: $6.51 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 95%; rating input score 95; 25th 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: 97.5%; rating input score 97; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.7%; rating input score 97; 30th 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: 39%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 7.27; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 10.3%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 54% of revenue deployed · 73.1% of spending went to programs
  • Governance: 29 of 30 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $14.3M in reported program spending
  • Leadership: top reported pay $4.1M · 40 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $157K reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 9 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: 11 filed money-flow records
  • Related organizations: 11 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.