NORTON PROPERTIES INC

EIN: 611028724 501(c)(3) Health Care

LOUISVILLE, KY

Total Revenue
$65,980,791
Total Expenses
$77,990,224
Total Assets
$399,852,945
Net Assets
$-80,262,631
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
KY
Phone
5026298263
Tax Period
2023-01-01 to 2023-12-31

NORTON PROPERTIES INC, founded in 1981, is a mid-sized nonprofit in the Health Care sector that reported $66.0M in total revenue in fiscal year 2023. Expenses of $78.0M exceeded revenue, resulting in a 18% operating deficit.

Mission

Norton Properties, Inc. (Properties) owns properties that are used to support the charitable health care purposes of Norton Healthcare, Inc. (NHC), primarily of Norton Hospitals, Inc. (Hospitals), Community Medical Associates, Inc. and NHC. Properties owns medical office buildings that are leased by physicians on the medical staff of Hospitals. It also leases office space and parking facilities for the convenience of NHC employees, physicians of the medical staff of Hospitals, and guests.

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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 $0
Program Service Revenue $65,721,049
Investment Income $256,160
Other Revenue $3,582
TOTAL REVENUE $65,980,791

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,488,993
Fundraising Expenses $0
Program Expenses $76,887,563
Other Expenses $75,501,231
TOTAL EXPENSES $77,990,224

Year-over-Year Comparison

2023 2022 Change
Revenue $65,980,791 $61,245,122 +0.1%
Expenses $77,990,224 $73,863,181 +0.1%
Net Income $-12,009,433 $-12,618,059 0.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
16
Employees
100
Volunteers
6

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
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A President & CEO/Trustee 1.0
Officer Director
$0 $417,106 $3,485,645
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Vice Chair 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $0
N/A Chair 0.5
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 0.5
Director
$0 $0 $0
N/A Trustee 0.5
Director
$0 $0 $0
N/A Trustee (PARTIAL YEAR) 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 0.5
Director
$0 $0 $2,000
N/A Trustee (PARTIAL YEAR) 0.5
Director
$0 $0 $0
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Chair Emeritus (partial year) 0.5
Director
$0 $0 $0
N/A Trustee (partial year) 0.5
Director
$0 $0 $0
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Trustee 0.5
Director
$0 $0 $2,000
N/A Sr VP, CFO/Treasurer 1.0
Officer
$0 $223,063 $1,364,768
N/A Exec VP and COO 1.0
Officer
$0 $288,832 $2,111,840
N/A Sr VP Chief Legal Officer/Secretary 1.0
Officer
$0 $169,876 $1,191,460
N/A Dir, Properties 40.0
Highest
$132,484 $46,672 $179,156
N/A Dir, Property Planning & Mgmt 40.0
Highest
$153,501 $38,777 $192,278
N/A Dir, Safety and Security 40.0
Highest
$121,748 $28,586 $150,334
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 $65,980,791 $77,990,224 $399,852,945 $-12,009,433
2022 $61,245,122 $73,863,181 $367,229,995 $-12,618,059
2021 $60,233,665 $70,329,224 $374,509,086 $-10,095,559
2020 $53,239,643 $67,117,997 $354,626,369 $-13,878,354
2019 $46,820,195 $60,683,652 $305,285,005 $-13,863,457
2018 $43,799,720 $56,138,192 $100,513,746 $-12,338,472
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