Virginia Health Care Foundation

Nonprofit profile at a glance

EIN
541639924
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8048285804
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Health Treatment Facilities, Primarily Outpatient

Official website

Reported finances

Revenue
$9,805,941
Expenses
$8,941,628
Assets
$28,217,820
Liabilities
$5,565,297

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

Leadership & pay

17 people listed

Executive titles in this filing

  • Deborah D Oswalt (Past Executive Director)
  • Rachel Rees (2024 Deputy Director/2025 CEO and Secretary)

Highest reported compensation

  • Deborah D Oswalt (Past Executive Director): $254,583 total reported compensation
  • Rachel Rees (2024 Deputy Director/2025 CEO and Secretary): $165,079 total reported compensation
  • Cornelia Sullivan-Dews (Director of Finance): $146,612 total reported compensation

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

Overview

Mission

The Virginia Health Care Foundations mission is to increase access to primary health care for uninsured and medically underserved Virginians.

What it reported doing in 2024

Grants for the salaries of 50 medication assistance caseworkers 37.45 FTEs, who applied for free prescription medicines from Patient Assistance Programs for their uninsured patients with chronic diseases, generating 145 million in free medications for 12,384 uninsured patients in FY25. They also helped obtain discounted low cost generic medicines when free ones were not available obtained free eyeglasses and certain medical supplies and helped eligible patients apply for Medicaid.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 44% for direct work, and 56% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.1%; rating input score 87
  • Program expense ratio: 89.8%; rating input score 90
  • Fundraising efficiency: $33.85 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 72nd 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; 63rd 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: 8.8%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 3.16; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 87.1% of revenue deployed · 89.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $8M in reported program spending
  • Leadership: top reported pay $255K · 17 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 59 filed money-flow records
  • Related organizations: 53 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.

  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.