NORTON HEALTHCARE FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Phone

5026293409

Tax Period

2024-01-01 to 2024-12-31

NORTON HEALTHCARE FOUNDATION INC, founded in 1977, is a mid-sized nonprofit in the Health Care sector that reported $14.8M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.4M, a strong 23% operating margin.

Mission

THROUGH THE GENEROSITY OF DONORS, THE NORTON HEALTHCARE FOUNDATION SUPPORTS PATIENT CARE, CAPITAL PROJECTS, EDUCATION AND RESEARCH FOR THE ADULT-SERVICE HOSPITALS AND AFFILIATED ORGANIZATIONS OF NORTON HEALTHCARE.

Program Service Accomplishments

Program 1

Expenses: $4,924,565 Revenue: $0

The Norton Healthcare Foundation is the philanthropic arm of the not-for-profit Norton Healthcare's adult services and four adult-service hospitals: Norton Audubon Hospital, Norton Brownsboro...

The Norton Healthcare Foundation is the philanthropic arm of the not-for-profit Norton Healthcare's adult services and four adult-service hospitals: Norton Audubon Hospital, Norton Brownsboro Hospital, Norton Hospital and Norton Women's & Children's Hospital. The Norton Healthcare Foundation raises funds each year to improve programs, equipment and facilities, research and education, enabling the hospitals to stay up to date with medical advances, technology and maintaining the community's access to high-quality health care. The Foundation was able to fund the following programs in 2024: * Pastoral care chaplain residency program * Norton Cancer Institute breast health and cancer prevention and education programs * Infectious Disease support * Expressive therapists for the Norton Cancer Institute Pat Harrison Resource Center * Fellowship director for Norton Leatherman Spine * Heel, Dog, Heal facility dog program * Patient Financial Assistance

Program 2

Expenses: $4,846,520 Revenue: $0

CAPITAL PROJECTS ARE ALSO FUNDED BY THE NORTON HEALTHCARE FOUNDATION. IN 2024, THE FOUNDATION PROVIDED FUNDING FOR THE FOLLOWING PROJECTS: *Norton West Louisville Hospital construction and equipment support *Parkinson's Center Focused Ultrasound Technology and support *NWCH Labor and Delivery room support

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $11,007,949

Program Service Revenue $0

Investment Income $3,130,781

Other Revenue $675,598

TOTAL REVENUE $14,814,328

Expense Breakdown

Grants Paid $9,771,085

Salaries & Benefits $1,031,171

Fundraising Expenses $1,139,878

Program Expenses $9,771,085

Other Expenses $660,384

TOTAL EXPENSES $11,462,640

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,814,328	$12,996,664	+0.1%
Expenses	$11,462,640	$13,424,588	-0.1%
Net Income	$3,351,688	$-427,924	-8.8%

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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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

Governance

Voting Members

Independent Members

Employees

Volunteers

363

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

$10,297,329

Total Directors

$1,207,233

Key Employees

$920,295

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Charles Leanhart CPA	Board Treasurer	1.0	Officer Director	$0	$0	$0
Holly Schroering	Board Secretary	1.0	Officer Director	$0	$0	$0
Jeffrey Cumberbatch	Board Chair	1.0	Officer Director	$2,000	$0	$2,000
Angela Tafel	Director	1.0	Director	$0	$0	$0
Barbara Nichols	Director	1.0	Director	$0	$0	$0
Brittany Frick	Director / System VP Women's Service Line	1.0	Director	$0	$70,602	$461,251
Bruce White	Director	1.0	Director	$0	$0	$0
Chris Jaggers	Director (partial year)	1.0	Director	$0	$0	$0
Curt Royce	Director (partial year)	1.0	Director	$0	$0	$0
David Dafoe	Director	1.0	Director	$0	$0	$0
Gail Tway Burke	Director	1.0	Director	$0	$0	$0
George Bell	Director	1.0	Director	$0	$0	$0
Jackie Thurston	Director	1.0	Director	$0	$0	$0
Jane Riehl	Director	1.0	Director	$0	$0	$0
Janet Lively McCauley	Director	1.0	Director	$0	$0	$0
Jennifer Blair	Director	1.0	Director	$0	$0	$0
Jennifer Kramer	Director	1.0	Director	$0	$0	$0
Josie Neal Donis	Director (partial year)	1.0	Director	$0	$0	$0
Karen Hale	Director	1.0	Director	$0	$0	$0
Louis R Straub II	Director	1.0	Director	$0	$0	$0
Matthew Ayers	Director / Sys VP, Associate Chief Hospital Officer	1.0	Director	$0	$116,793	$743,982
Maureen Adams	Director	1.0	Director	$0	$0	$0
Meredith Koon	Director	1.0	Director	$0	$0	$0
Nicholas Dunigan	Director	1.0	Director	$0	$0	$0
Patricia F Kantlehner	Director	1.0	Director	$0	$0	$0
Scott Love	Director (partial year)	1.0	Director	$0	$0	$0
Adam Kempf	Sr VP & CFAO	1.0	Officer	$0	$241,646	$1,659,943
Michael W Gough	Exec VP and COO (partial year)	1.0	Officer	$0	$16,296	$3,217,019
Robert B Azar	Sr VP Chief Legal Officer/Secretary	1.0	Officer	$0	$176,992	$1,302,529
Russell F Cox	President & CEO	1.0	Officer	$0	$482,184	$4,115,838
Mary Lynn Meyer	Sr VP WCCP/ CDO	6.0	Key Emp	$60,000	$128,645	$920,295
Adam Fields	Sys Dir, Planned Giving and Major Gifts	20.0	Highest	$110,403	$18,484	$239,290
Amanda Current	Dir, Events and Internal Relations	7.0	Highest	$24,459	$32,898	$155,193
Anne Cannon	Dir Events/Donor Relation	7.0	Highest	$25,126	$15,153	$140,782
Heather Singleton	Sys Dir, Events/Community Relations	8.0	Highest	$52,655	$33,299	$296,572
Susan Cohen	Dir, Grants	7.0	Highest	$36,239	$14,887	$159,843

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	$14,814,328	$11,462,640	$68,908,165	$3,351,688
2023	$12,996,664	$13,424,588	$63,915,894	$-427,924
2022	$8,241,395	$7,302,632	$60,367,932	$938,763
2021	$14,532,158	$5,564,814	$67,267,345	$8,967,344
2020	$8,050,077	$6,977,127	$56,824,800	$1,072,950
2019	$7,740,034	$5,891,150	$53,408,861	$1,848,884
2018	$6,482,350	$5,663,158	$47,807,871	$819,192