Bon Secours Richmond Healthcare Foundation

EIN: 541201346 501(c)(3)

Richmond, VA

Total Revenue
$7,236,199
Total Expenses
$8,765,552
Total Assets
$21,935,937
Net Assets
$20,171,455
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
VA
Phone
8042818413
Tax Period
2018-09-01 to 2019-08-31

Bon Secours Richmond Healthcare Foundation, founded in 1982, is a community nonprofit that reported $7.2M in total revenue in fiscal year 2018. Revenue fell 37% from the prior year — a significant decline worth monitoring. Expenses of $8.8M exceeded revenue, resulting in a 21% operating deficit.

Mission

THE MISSION IS TO BRING COMPASSION TO HEALTH CARE AND TO BE GOOD HELP TO THOSE IN NEED, ESPECIALLY THOSE WHO ARE POOR AND DYING. AS A SYSTEM OF CAREGIVERS, WE COMMIT OURSELVES TO HELP BRING PEOPLE AND COMMUNITIES TO HEALTH AND WHOLENESS.

Program Service Accomplishments

Program 1
Expenses: $7,093,669 Revenue: $0

The Bon Secours Richmond Healthcare Foundation serves the greater Richmond, Virginia community through the support provided to the Bon Secours Mercy Health System and its not-for profit entities. The...

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The Bon Secours Richmond Healthcare Foundation serves the greater Richmond, Virginia community through the support provided to the Bon Secours Mercy Health System and its not-for profit entities. The Bon Secours Richmond Healthcare Foundation contributes to the fulfillment of the mission of Bon Secours Mercy Health which is to bring compassion to healthcare and to be good help to those in need, especially those who are poor and dying. As a system of caregivers, we commit ourselves to help bring people and communities to health and wholeness as part of the healing ministry of Jesus Christ and the Catholic Church. The Mission of the Sisters of Bon Secours "Good Help to Those in Need" supports the not-for-profit entities of Bon Secours Richmond Health Corporation.

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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 (2018)

Revenue Breakdown

Contributions & Grants $7,254,776
Program Service Revenue $0
Investment Income $277,572
Other Revenue $-296,149
TOTAL REVENUE $7,236,199

Expense Breakdown

Grants Paid $6,182,442
Salaries & Benefits $2,058,684
Fundraising Expenses $1,412,048
Program Expenses $7,093,669
Other Expenses $524,426
TOTAL EXPENSES $8,765,552

Year-over-Year Comparison

2018 2017 Change
Revenue $7,236,199 $11,522,901 -0.4%
Expenses $8,765,552 $10,446,659 -0.2%
Net Income $-1,529,353 $1,076,242 -2.4%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
31
Independent Members
29
Employees
23
Volunteers
35

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
8
$3,099,716
Total Directors
38
$2,382,304
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A CEO-BSV (End 07/19) 0.5
Officer Director
$0 $16,500 $1,852,330
N/A Interim CEO - Richmond (Beg 07/19) 0.5
Officer Director
$0 $0 $0
N/A President 0.5
Officer Director
$0 $0 $0
N/A Secretary 0.5
Officer Director
$0 $0 $0
N/A Chairman 0.5
Officer Director
$0 $0 $0
N/A Board Member (End 02/19) 0.5
Director
$0 $42,564 $351,379
N/A Board Member (Beg 03/19) 0.5
Director
$0 $33,127 $171,923
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member (End 09/18) 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $6,672
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member (End 12/18) 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member (End 12/18) 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member 0.5
Director
$0 $0 $0
N/A Board Member (End 12/18) 0.5
Director
$0 $0 $0
N/A Board Member (End 12/18) 0.5
Director
$0 $0 $0
N/A Treasurer, CFO - Richmond Market 0.5
Officer
$0 $25,196 $683,182
N/A CEO-Foundation (End 09/18) 37.0
Officer
$363,438 $45,025 $408,463
N/A President, Richmond Foundation (Beg 10/18) 49.5
Officer
$127,190 $28,551 $155,741
N/A Sr. Development Officer 50.0
Highest
$143,478 $35,334 $178,812
N/A Sr. Development Officer 50.0
Highest
$148,548 $16,669 $165,217
N/A Sr. Development Officer 50.0
Highest
$126,975 $32,590 $159,565
N/A Sr. Development Officer 50.0
Highest
$123,515 $15,575 $139,090
N/A Administrative Director 50.0
Highest
$118,029 $11,328 $129,357
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
2019 $7,236,199 $8,765,552 $21,935,937 $-1,529,353
2019 $4,502,238 $2,204,701 No data $2,297,537
2018 $11,522,901 $10,446,659 $20,429,244 $1,076,242
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