Northwestern Memorial HealthCare

EIN: 363152959 501(c)(3) Health Care

Chicago, IL

Total Revenue
$2,259,070,785
Total Expenses
$1,801,649,652
Total Assets
$15,237,001,285
Net Assets
$3,676,435,384
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
IL
Phone
3129264237
Tax Period
2023-09-01 to 2024-08-31

Northwestern Memorial HealthCare, founded in 1982, is a large national nonprofit in the Health Care sector that reported $2.3B in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $457.4M, a strong 20% operating margin.

Mission

WE ARE AN ORGANIZATION OF CAREGIVERS WHO ASPIRE TO CONSISTENT, HIGH STANDARDS OF QUALITY, COST-EFFECTIVENESS AND PATIENT SATISFACTION. WE SEEK TO IMPROVE THE HEALTH OF THE COMMUNITIES WE SERVE BY DELIVERING A BROAD RANGE OF SERVICES WITH SENSITIVITY TO THE INDIVIDUAL NEEDS OF OUR PATIENTS AND THEIR FAMILIES. WE ARE BONDED IN AN ESSENTIAL ACADEMIC AND SERVICE RELATIONSHIP WITH FEINBERG SCHOOL OF MEDICINE OF NORTHWESTERN UNIVERSITY. THE QUALITY OF OUR SERVICES IS ENHANCED THROUGH THEIR INTEGRATION WITH EDUCATION AND RESEARCH IN AN ENVIRONMENT THAT ENCOURAGES EXCELLENCE OF PRACTICE, CRITICAL INQUIRY AND LEARNING.

Program Service Accomplishments

Program 1
Expenses: $1,540,264,347 Revenue: $1,704,578,517

NORTHWESTERN MEMORIAL HEALTHCARE (NMHC) IS THE NOT-FOR-PROFIT CORPORATE DIRECT OR INDIRECT PARENT OF NORTHWESTERN MEMORIAL HOSPITAL (NMH), NORTHWESTERN LAKE FOREST HOSPITAL (NLFH), CENTRAL DUPAGE...

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NORTHWESTERN MEMORIAL HEALTHCARE (NMHC) IS THE NOT-FOR-PROFIT CORPORATE DIRECT OR INDIRECT PARENT OF NORTHWESTERN MEMORIAL HOSPITAL (NMH), NORTHWESTERN LAKE FOREST HOSPITAL (NLFH), CENTRAL DUPAGE HOSPITAL ASSOCIATION (CDHA), DELNOR-COMMUNITY HOSPITAL (DCH), VALLEY WEST COMMUNITY HOSPITAL (VWCH), KISHWAUKEE COMMUNITY HOSPITAL (KCH), MARIANJOY REHABILITATION HOSPITAL & CLINICS (MJHRH), NORTHERN ILLINOIS MEDICAL CENTER (NIMC), PALOS COMMUNITY HOSPITAL (PCH), NORTHWESTERN MEDICAL FACULTY FOUNDATION, CENTRAL DUPAGE PHYSICIAN GROUP, AND THEIR VARIOUS AFFILIATES AS LISTED IN THIS FORM 990, SCHEDULE R. WORKING TOGETHER UNDER THE BRAND NORTHWESTERN MEDICINE, NMHC AND NORTHWESTERN UNIVERSITY FEINBERG SCHOOL OF MEDICINE (FEINBERG) SHARE A VISION TO TRANSFORM MEDICAL CARE THROUGH CLINICAL INNOVATION, BREAKTHROUGH RESEARCH AND ACADEMIC EXCELLENCE TO MAKE A POSITIVE DIFFERENCE IN PEOPLE'S LIVES AND THE HEALTH OF OUR COMMUNITIES. NMHC PROVIDES COMPREHENSIVE INPATIENT CARE AT ELEVEN HOSPITAL FACILITIES. AMONG THESE ELEVEN FACILITY LOCATIONS, THREE HOSPITALS IN THE NORTHWEST SUBURBS OPERATE UNDER A SINGLE LICENSE AS NORTHERN ILLINOIS MEDICAL CENTER. AS THE PARENT OF THE NORTHWESTERN MEMORIAL HEALTH SYSTEM, NMHC PROVIDES GOVERNANCE SUPPORT AND CENTRALIZED SERVICES TO THE SYSTEM AS A WHOLE. NMHC IS POSITIONED TO ADVANCE GROUNDBREAKING WORK THAT CAN ONLY BE ACCOMPLISHED WITH THE RESOURCES OF AN INTEGRATED ACADEMIC MEDICAL HEALTH SYSTEM. AS AN INTEGRATED ACADEMIC MEDICAL HEALTH SYSTEM, NMHC CAN TAKE ACTION BEYOND PROVIDING CLINICAL CARE. WORKING WITH SCIENTISTS AND EXPERTS IN PUBLIC HEALTH, WE ARE STRIVING TO DETERMINE ROOT CAUSES AND DEVELOP SOLUTIONS TO ERADICATE SOME OF THE MOST WIDESPREAD, GROWING AND COMPLEX PUBLIC HEALTH ISSUES FACING THE UNITED STATES TODAY - FROM CHRONIC DISEASES INCLUDING CARDIOVASCULAR DISEASE, CANCER AND DIABETES, TO THE UNDERLYING CAUSES OF OBESITY, POOR MENTAL HEALTH AND PERSISTENT VIOLENCE IN OUR COMMUNITIES. NMHC SUPPORTS SOME OF THE NATION'S MOST ADVANCED RESEARCH PROGRAMS, LED BY PHYSICIAN SCIENTISTS AT FEINBERG, WHO ARE PUSHING THE BOUNDARIES OF SCIENCE AND MEDICINE THROUGH NATIONALLY RECOGNIZED RESEARCH PROGRAMS AS WELL AS ENTIRELY NEW SCIENTIFIC DISCIPLINES THAT ARE PIONEERING DIRECTIONS FOR PREVENTING AND CURING DISEASE.

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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 $481,578
Program Service Revenue $1,686,233,414
Investment Income $553,867,658
Other Revenue $18,488,135
TOTAL REVENUE $2,259,070,785

Expense Breakdown

Grants Paid $35,993,607
Salaries & Benefits $787,753,646
Fundraising Expenses $0
Program Expenses $1,540,264,347
Other Expenses $977,902,399
TOTAL EXPENSES $1,801,649,652

Year-over-Year Comparison

2023 2022 Change
Revenue $2,259,070,785 $2,057,415,454 +0.1%
Expenses $1,801,649,652 $1,684,720,180 +0.1%
Net Income $457,421,133 $372,695,274 +0.2%
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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Governance

Voting Members
23
Independent Members
20
Employees
5268
Volunteers
N/A

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
0
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Group Number 5878 Per regulation 1.6033-2(D)(5), This data is found on the group return N/A
Director
$0 $0 $0
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
2025 No data No data No data No data
2024 $2,259,070,785 $1,801,649,652 $15,237,001,285 $457,421,133
2023 $2,057,415,454 $1,684,720,180 $13,848,071,678 $372,695,274
2022 $2,009,411,319 $1,556,886,755 $12,205,294,228 $452,524,564
2021 $1,940,088,949 $1,432,403,223 $12,831,005,133 $507,685,726
2020 $1,513,487,183 $1,292,087,754 $10,251,425,251 $221,399,429
2019 $1,226,577,935 $1,113,739,354 $7,799,373,596 $112,838,581
2018 $1,193,319,992 $985,573,720 $7,154,079,035 $207,746,272
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