Norton Healthcare Inc

EIN: 611028725 501(c)(3) Health Care

Louisville, KY

Total Revenue
$607,102,092
Total Expenses
$580,119,586
Total Assets
$2,403,379,569
Net Assets
$207,590,188
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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
KY
Phone
5026298249
Tax Period
2023-01-01 to 2023-12-31

Norton Healthcare Inc, founded in 1983, is a major nonprofit in the Health Care sector that reported $607.1M in total revenue in fiscal year 2023. Expenses of $580.1M left a modest 4% surplus.

Mission

Norton Healthcare'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 honors our faith heritage.

Program Service Accomplishments

Program 1
Expenses: $492,679,994 Revenue: $594,993,854

Norton Healthcare Inc. (NHC) is a not-for-profit corporation serving adult and pediatric patients from throughout Greater Louisville, Southern Indiana, the commonwealth of Kentucky and beyond. The...

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Norton Healthcare Inc. (NHC) is a not-for-profit corporation serving adult and pediatric patients from throughout Greater Louisville, Southern Indiana, the commonwealth of Kentucky and beyond. The not-for-profit hospital and health care system has five Louisville-based hospitals, three hospitals in Southern Indiana and one under construction in West Louisville that is scheduled to open in late 2024. NHC expanded services into Indiana starting with Norton King's Daughters' Health (NKHD) in 2022. NKDH is an 86-bed hospital in Madison, Indiana, that provides a variety of health services for patients in southeast Indiana and parts of northern Kentucky. In 2023, NHC further expanded into Indiana with two additional hospitals: Norton Clark Hospital (Clark) in Jeffersonville and Norton Scott Hospital (Scott) in Scottsburg. (CONTINUED on SCHEDULE O)

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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 $11,642,911
Program Service Revenue $545,625,743
Investment Income $53,769,555
Other Revenue $-3,936,117
TOTAL REVENUE $607,102,092

Expense Breakdown

Grants Paid $2,443,803
Salaries & Benefits $270,691,164
Fundraising Expenses $0
Program Expenses $492,679,994
Other Expenses $306,984,619
TOTAL EXPENSES $580,119,586

Year-over-Year Comparison

2023 2022 Change
Revenue $607,102,092 $569,215,201 +0.1%
Expenses $580,119,586 $530,549,416 +0.1%
Net Income $26,982,506 $38,665,785 -0.3%
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
5806
Volunteers
2

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
15
$13,391,068
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A President & CEO/Trustee 30.0
Officer Director
$3,068,539 $417,106 $3,485,645
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Vice Chair 2.0
Director
$2,000 $0 $2,000
N/A Trustee 4.0
Director
$0 $0 $0
N/A Chair 13.0
Director
$2,000 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $0
N/A Trustee 4.0
Director
$0 $0 $0
N/A Trustee (PARTIAL YEAR) 1.0
Director
$2,000 $0 $2,000
N/A Trustee 4.0
Director
$2,000 $0 $2,000
N/A Trustee 3.0
Director
$2,000 $0 $2,000
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Trustee 1.0
Director
$0 $0 $2,000
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Trustee 1.0
Director
$2,000 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$2,000 $0 $2,000
N/A Trustee (PARTIAL YEAR) 1.0
Director
$0 $0 $0
N/A Trustee 1.0
Director
$2,000 $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 3.0
Director
$2,000 $0 $2,000
N/A Trustee 3.0
Director
$2,000 $0 $2,000
N/A Sr VP, CFO/Treasurer 30.0
Officer
$1,141,705 $223,063 $1,364,768
N/A Exec VP and COO 30.0
Officer
$1,823,008 $288,832 $2,111,840
N/A Sr VP Chief Legal Officer/Secretary 30.0
Officer
$1,021,584 $169,876 $1,191,460
N/A Senior VP and Chief Hospital Officer 21.0
Key Emp
$0 $153,109 $917,316
N/A Division President 50.0
Key Emp
$1,007,833 $208,931 $1,216,764
N/A Sr VP Chief HR Officer 50.0
Key Emp
$851,180 $60,203 $911,383
N/A VP Medical Affairs 50.0
Key Emp
$785,327 $144,679 $930,006
N/A Sys VP Revenue Cycle 50.0
Key Emp
$554,991 $120,108 $675,099
N/A Interim Vice President, Human Resources 40.0
Key Emp
$514,987 $135,059 $650,046
N/A Sys VP Perf Excel & Care Continium 50.0
Key Emp
$516,403 $93,934 $610,337
N/A Sr VP & CNO 50.0
Key Emp
$680,721 $118,225 $798,946
N/A Division VP Finance 50.0
Key Emp
$533,188 $93,983 $627,171
N/A Sr VP WCCP/ CDO 32.0
Key Emp
$700,811 $125,097 $825,908
N/A Sr VP Operations 50.0
Key Emp
$764,256 $158,271 $922,527
N/A Sys VP Mngd Care & Payor Strategy 50.0
Key Emp
$528,711 $96,501 $625,212
N/A Sr VP & CIO 50.0
Key Emp
$892,423 $184,876 $1,077,299
N/A Sr VP & Chief Innovation Officer 50.0
Key Emp
$750,407 $158,691 $909,098
N/A Div President Provider Ops & Sys CMO 50.0
Key Emp
$1,436,243 $257,713 $1,693,956
N/A Sys VP Facilities Management 50.0
Highest
$480,400 $98,345 $578,745
N/A Sys VP Health Policy 50.0
Highest
$476,410 $97,198 $573,608
N/A Sys VP Women's & Pediatric Svc Line 50.0
Highest
$697,660 $44,258 $741,918
N/A Sys VP IT Operations and Development 50.0
Highest
$486,924 $95,511 $582,435
N/A Chief Research Executive 50.0
Highest
$571,954 $30,173 $602,127
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 $607,102,092 $580,119,586 $2,403,379,569 $26,982,506
2022 $569,215,201 $530,549,416 $2,441,255,153 $38,665,785
2021 $617,825,151 $464,873,859 $2,835,434,005 $152,951,292
2020 $492,316,959 $430,991,720 $2,709,209,349 $61,325,239
2019 $427,562,803 $390,879,950 $1,935,993,288 $36,682,853
2018 $389,424,748 $335,370,705 $1,830,303,653 $54,054,043
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