Swedish Covenant Hospital Foundation

EIN: 205055155 501(c)(3) Health Care

Chicago, IL

Total Revenue
$3,615,541
Total Expenses
$697,823
Total Assets
$64,032,859
Net Assets
$62,748,154
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
IL
Phone
7738788200
Tax Period
2023-01-01 to 2023-12-31

Swedish Covenant Hospital Foundation, founded in 2006, is a community nonprofit in the Health Care sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.9M, a strong 81% operating margin.

Mission

Swedish Covenant Hospital Foundation follows the mission of Endeavor Health. The mission of Endeavor Health is to "help everyone in our communities be their best." Central to this mission is a commitment to providing clinical programs and services that meet community health needs, while also pursuing continuous improvement to identify and understand future needs. Swedish Hospital Foundation raises funds to advance the mission and strategic goals of Swedish Hospital, a non-profit, teaching hospital. We cultivate philanthropic partnerships to enhance the health and well-being of our culturally diverse community.

Program Service Accomplishments

Program 1
Expenses: $147,188 Revenue: $0

Swedish Hospital Foundation raises funds to advance the mission and strategic goals of Swedish Hospital, a non-profit, teaching hospital. We cultivate philanthropic partnerships to enhance the health...

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Swedish Hospital Foundation raises funds to advance the mission and strategic goals of Swedish Hospital, a non-profit, teaching hospital. We cultivate philanthropic partnerships to enhance the health and well-being of our culturally diverse community. Over the course of 2023, the following has been accomplished: - 141 survivors of domestic violence, 71 survivors of sexual assault and 7 survivors of human trafficking have been identified and assisted through the Pathways Program. 810 medical providers, staff and community members have been trained to respond to those experiencing violence. - More than 1,300 women received free breast cancer screenings and diagnostics through the Community Breast Health Program. - 23 low-income women received long-term mental health counseling through the Women's Care Fund. - More than 100 uninsured emergency room patients received critical prescription medications through the Helping Hands Fund. - More than 100 low-income/uninsured patients received no-cost emergency dental care through the Swedish Dental Clinic. - More than 250 patients were screened for food insecurity. 477 patients referred to community organizations for food access. Distributed more than 300 pounds of food through the Cupboard (food pantry). - 9 scholarships were provided to Swedish nurses through the Nursing Education Fund.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,425,100
Program Service Revenue $0
Investment Income $2,374,708
Other Revenue $-184,267
TOTAL REVENUE $3,615,541

Expense Breakdown

Grants Paid $0
Salaries & Benefits $442,066
Fundraising Expenses $245,315
Program Expenses $147,188
Other Expenses $255,757
TOTAL EXPENSES $697,823

Year-over-Year Comparison

2023 2022 Change
Revenue $3,615,541 $2,946,653 +0.2%
Expenses $697,823 $718,264 0.0%
Net Income $2,917,718 $2,228,389 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
9
Employees
N/A
Volunteers
10

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
9
$10,942,561
Total Directors
16
$3,960,927
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A President (until 8/30/23), CEO (until 12/31/23) 1.0
Officer Director
$0 $106,239 $1,370,805
N/A Chairman 1.0
Officer Director
$0 $0 $0
N/A President of SCH 1.0
Officer Director
$0 $49,114 $723,074
N/A Assistant Treasurer 1.0
Officer Director
$0 $0 $0
N/A Secretary (until May 2023) 1.0
Officer Director
$0 $0 $0
N/A Director 1.0
Director
$0 $55,315 $876,352
N/A Director (until Jan 2023) 1.0
Director
$0 $8,032 $186,529
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $1,368 $31,757
N/A Director 1.0
Director
$0 $26,993 $772,410
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $0 $0
N/A Director 1.0
Director
$0 $0 $0
N/A Chief Financial Officer and Treasurer 1.0
Officer
$0 $284,165 $2,034,913
N/A System President and CEO 1.0
Officer
$0 $2,182,996 $6,283,528
N/A Asst Secretary/Treasurer and Executive Director 40.0
Officer
$0 $23,311 $286,317
N/A Treasurer (left during 2023) 1.0
Officer
$0 $13,910 $243,924
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,615,541 $697,823 $64,032,859 $2,917,718
2022 $2,946,653 $718,264 $58,718,482 $2,228,389
2021 $5,170,510 $1,287,753 $68,747,421 $3,882,757
2021 $2,177,796 $225,799 $67,800,582 $1,951,997
2020 $22,932,684 $697,564 $57,883,158 $22,235,120
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