The Carle Foundation

EIN: 370673465 501(c)(3) Health Care

URBANA, IL

Total Revenue
$575,377,812
Total Expenses
$549,795,506
Total Assets
$2,977,227,900
Net Assets
$1,583,887,552
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1946
Legal Domicile
IL
Phone
2173833311
Tax Period
2023-01-01 to 2023-12-31

THE CARLE FOUNDATION, founded in 1946, is a major nonprofit in the Health Care sector that reported $343.9M in total revenue in fiscal year 2018. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $309.1M left a modest 10% surplus.

Mission

To be the trusted partner in all healthcare decisions and improve health by providing highly accessible, world-class care and service.

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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 $1,004,763
Program Service Revenue $529,712,604
Investment Income $35,826,874
Other Revenue $8,833,571
TOTAL REVENUE $575,377,812

Expense Breakdown

Grants Paid $2,640,336
Salaries & Benefits $228,277,012
Fundraising Expenses $0
Program Expenses $225,199,357
Other Expenses $318,878,158
TOTAL EXPENSES $549,795,506

Year-over-Year Comparison

2023 2022 Change
Revenue $575,377,812 $481,907,573 +0.2%
Expenses $549,795,506 $475,536,731 +0.2%
Net Income $25,582,306 $6,370,842 +3.0%
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

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Governance

Voting Members
14
Independent Members
10
Employees
3158
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
10
$13,418,463
Total Directors
14
$2,913,825
Key Employees
2
$1,181,271
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Immediate Past Chair 0.3
Officer Director
$0 $0 $0
N/A Vice Chair 2.5
Officer Director
$0 $0 $0
N/A Chair 2.0
Officer Director
$0 $0 $0
N/A Secretary/Treasurer 1.0
Officer Director
$0 $35,685 $625,566
N/A TRUSTEE - PHYSICIAN 1.0
Director
$0 $34,166 $441,082
N/A Trustee BEG 04/01/2023 1.0
Director
$0 $0 $0
N/A Trustee BEG 04/01/2023 0.5
Director
$0 $0 $0
N/A Trustee 4.0
Director
$0 $0 $0
N/A Trustee BEG 04/01/2023 2.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee 1.5
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee // Physician 1.0
Director
$0 $38,164 $838,659
N/A Trustee// Physician 1.0
Director
$0 $23,172 $1,008,518
N/A Officer - EVP, Chief Finance & Strategy Officer 7.5
Officer
$1,395,995 $366,889 $1,762,884
N/A Ex-Officio, Officer - President & CEO 18.0
Officer
$5,690,001 $36,885 $5,726,886
N/A Officer - EVP, Chief Human Resources Officer 20.0
Officer
$945,711 $209,640 $1,155,351
N/A Officer - EVP, Chief Legal Officer 18.0
Officer
$926,444 $234,361 $1,160,805
N/A Officer - President, Carle Health Regions // EVP, Chief Operating Officer 14.0
Officer
$1,567,332 $363,305 $1,930,637
N/A Officer - EVP, Chief Medical Officer 20.0
Officer
$940,875 $115,459 $1,056,334
N/A VP, Construction & Facility Services 21.0
Key Emp
$364,372 $68,059 $432,431
N/A VP, Information Technology & Chief Information Officer 40.0
Key Emp
$612,255 $136,585 $748,840
N/A SVP, Surgical Services & Ambulatory Care 10.0
Highest
$654,000 $124,899 $778,899
N/A President, Carle Health - Central Region 9.0
Highest
$815,721 $35,766 $851,487
N/A President, Carle Health - East Region // Chief Nursing Officer 0.0
Highest
$722,013 $95,920 $817,933
N/A Associate Chief Medical Officer, BroMenn & Eureka 0.0
Highest
$653,588 $33,314 $686,902
N/A Associate Chief Medical Officer, Quality Patient Safety & Experience 40.0
Highest
$637,115 $140,969 $778,084
N/A Former - Officer 0.0
$0 $35,014 $318,654
N/A Former - Officer 0.0
$0 $36,405 $711,286
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 $575,377,812 $549,795,506 $2,977,227,900 $25,582,306
2022 $481,907,573 $475,536,731 $2,988,243,749 $6,370,842
2021 $555,725,730 $455,943,265 $3,268,207,661 $99,782,465
2020 $432,389,749 $383,572,381 $2,769,352,943 $48,817,368
2019 $407,827,505 $333,842,083 $2,657,419,618 $73,985,422
2018 $343,877,589 $309,074,036 $2,326,262,647 $34,803,553
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