Norton Hospitals Inc

EIN: 610703799 501(c)(3) Health Care

Louisville, KY

Total Revenue
$2,999,781,942
Total Expenses
$2,612,252,937
Total Assets
$3,977,045,908
Net Assets
$3,840,966,000
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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
KY
Phone
5026298263
Tax Period
2023-01-01 to 2023-12-31

Norton Hospitals Inc, founded in 1969, is a large national nonprofit in the Health Care sector that reported $3.0B in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $2.6B left a modest 13% surplus.

Mission

Norton Hospitals, Inc.'s purpose is to provide quality health care to all those we serve, in a manner that responds to the needs of our communities and faith heritage.

Program Service Accomplishments

Program 1
Expenses: $2,562,853,316 Revenue: $2,991,330,430

Norton Hospitals, Inc. (NHI) was formed to: I) provide on a nonprofit basis, hospital or health care facilities and services for the care and treatment of ill and injured persons and those who...

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Norton Hospitals, Inc. (NHI) was formed to: I) provide on a nonprofit basis, hospital or health care facilities and services for the care and treatment of ill and injured persons and those who otherwise require medical care and related services of the kind customarily furnished most effectively by hospitals or health care facilities; II) conduct educational activities related to rendering care to the sick and injured; III) promote and conduct scientific research related to the care of the sick and injured. NHI has a total of 1,907 licensed beds, Norton Hospital - 605 beds; Norton Children's Hospital - 300 beds; Norton Audubon Hospital - 432 beds; Norton Women's and Children's Hospital - 373 beds; and Norton Brownsboro Hospital - 197 beds. These hospitals operate twenty-four (24) hours a day, seven (7) days a week. In 2023, NHI's hospitals, diagnostic centers and Norton Cancer Institute served 67,543 inpatients, 699,244 outpatients, 261,014 emergency department visits, and 34,907 observation cases. In addition, NHI's operating rooms cared for 16,908 inpatient surgical patients and 41,152 outpatient surgical patients. Additionally, 8,477 deliveries were performed at NHI birthing centers. As part of our commitment to improving the health of our community, NHI provides funding for a wide array of lifesaving and life-enhancing services that benefit the communities we serve. In 2023, under its charity care program, NHI provided free care to 4,407 patients, at a cost of $21.1 million. Also, Norton Healthcare, Inc. (NHC), parent company of NHI, grants a discount from billed charges to any patients who have no access to private health insurance or do not qualify for government assistance or charity care. Under this program, 6,812 patients were provided care at discounted rates. Another contribution to the community was educational support of $76.1 million, primarily to the University of Louisville (UofL) School of Medicine. Community health improvement services totaled $48 million and contributions to community groups were $2.3 million. NHC provides programmatic support to the UofL School of Medicine through funding and facilities. During the 2023 calendar year, 206 residents completed clinical rotations in 53 specialties at NHC facilities. Residency programs are part of the $76.1 million in educational support and clinical funding provided to the medical school.

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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 $7,071,458
Program Service Revenue $2,985,477,061
Investment Income $0
Other Revenue $7,233,423
TOTAL REVENUE $2,999,781,942

Expense Breakdown

Grants Paid $0
Salaries & Benefits $987,222,821
Fundraising Expenses $0
Program Expenses $2,562,853,316
Other Expenses $1,625,030,116
TOTAL EXPENSES $2,612,252,937

Year-over-Year Comparison

2023 2022 Change
Revenue $2,999,781,942 $2,627,705,210 +0.1%
Expenses $2,612,252,937 $2,386,899,214 +0.1%
Net Income $387,529,005 $240,805,996 +0.6%
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
17
Independent Members
16
Employees
12838
Volunteers
743

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
4
$8,153,713
Total Directors
23
$3,517,645
Key Employees
5
$4,078,636
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A President & CEO/Trustee 10.0
Officer Director
$0 $417,106 $3,485,645
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Vice Chair 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $0
N/A Chair 1.0
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $0
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Chair Emeritus (partial year) 1.0
Director
$0 $0 $0
N/A Trustee (partial year) 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Sr VP, CFO/Treasurer 10.0
Officer
$0 $223,063 $1,364,768
N/A Exec VP and COO 10.0
Officer
$0 $288,832 $2,111,840
N/A Sr VP Chief Legal Officer/Secretary 10.0
Officer
$0 $169,876 $1,191,460
N/A Hospital CAO 29.0
Key Emp
$764,207 $153,109 $917,316
N/A Hospital CAO 49.0
Key Emp
$540,957 $108,957 $649,914
N/A CAO NMG - Physician -in-Chief NCI 50.0
Key Emp
$1,137,280 $157,348 $1,294,628
N/A Division VP Finance 50.0
Key Emp
$461,314 $94,078 $555,392
N/A Hospital CAO 49.0
Key Emp
$555,124 $106,262 $661,386
N/A Physician 50.0
Highest
$1,615,977 $80,836 $1,696,813
N/A Physician 50.0
Highest
$1,452,235 $59,846 $1,512,081
N/A Physician 50.0
Highest
$1,243,021 $43,725 $1,286,746
N/A Physician 50.0
Highest
$1,297,403 $55,963 $1,353,366
N/A Physician 50.0
Highest
$1,502,960 $60,345 $1,563,305
N/A Former Hospital CAO 0.0
$443,274 $50,636 $493,910
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 $2,999,781,942 $2,612,252,937 $3,977,045,908 $387,529,005
2022 $2,627,705,210 $2,386,899,214 $3,620,090,960 $240,805,996
2021 $2,534,122,954 $2,177,121,424 $3,488,220,444 $357,001,530
2020 $2,122,710,248 $1,910,411,628 $3,193,313,774 $212,298,620
2019 $2,064,333,753 $1,813,916,667 $2,777,133,873 $250,417,086
2018 $2,023,498,973 $1,769,387,384 $2,551,346,959 $254,111,589
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