THE CHILDREN'S HOSPITAL FOUNDATION… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1962

Legal Domicile

Phone

5026293409

Tax Period

2023-01-01 to 2023-12-31

THE CHILDREN'S HOSPITAL FOUNDATION INC, founded in 1962, is a mid-sized nonprofit in the Health Care sector that reported $19.8M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year. Expenses of $19.0M left a modest 4% surplus.

Mission

Support from the Children's Hospital Foundation allows the pediatric specialists at Norton Children's Hospital to continue to respond to the unique medical needs of children from birth to age 18, and in some cases through adulthood. It also supports the hospital's health and wellness prevention initiatives, as well as any pediatric-related needs of all other organizations affiliated with Norton Healthcare

Program Service Accomplishments

Program 1

Expenses: $9,950,885

The Children's Hospital Foundation (dba Norton Children's Hospital Foundation) raises funds for Norton Children's Hospital, Kentucky's only full-service, free-standing pediatric hospital; servicing Norton Children's Medical Center, Norton Women's & Children's Hospital, as well as all Norton affiliated organizations in need of supporting pediatric programs, equipment and facilities, research, advocacy and education. The Children's Hospital Foundation is motivated to ensure that children from throughout Greater Louisville have the medical care they need when they need it, while keeping kids as close to home as possible. Support from the Norton Children's Hospital Foundation allows the pediatric specialists of Norton Children's facilities and pediatric services to continue to respond to the unique medical needs of children from birth to age 18, and in some cases through adulthood. Norton Children's Hospital is Louisville's only Level I Pediatric Trauma Center and the primary teaching facility for the U of L School of Medicine Department of Pediatrics. Major programs funded in 2023 included: * Operational funding for the Norton Children's Prevention & Wellness team, including Safety City and No Kid Hungry, as well as additional education and outreach * Clinical research nurse at Norton Children's Cancer Institute, affiliated with the UofL School of Medicine * Transition to Adult Diabetes Program at the Wendy Novak Diabetes Center * Developing food pantries throughout the community * Community Based Doula Program * Heal Dog Heal Program

Program 2

Expenses: $4,317,041

The Children's Hospital Foundation provides funding for capital projects, in addition to programs, advocacy, education and research. In 2023, the Foundation funded the following capital projects: * Islet Cell Research and Transplant Program Equipment * Pediatric Specialist Department - Support to build Center of Excellence * NICU Care equipment * Vans for Neonatal-pediatric Outreach Vehicles * Pediatric Cardiology Mapping equipment * Transport Team JFK Ambulance support * Simulation Vehicle * Autism Research Support for Playground * Neuro OR Renovation support

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $15,274,992

Program Service Revenue $0

Investment Income $3,223,481

Other Revenue $1,274,617

TOTAL REVENUE $19,773,090

Expense Breakdown

Grants Paid $14,267,926

Salaries & Benefits $2,180,067

Fundraising Expenses $3,635,303

Program Expenses $14,267,926

Other Expenses $2,266,686

TOTAL EXPENSES $18,980,667

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,773,090	$23,012,177	-0.1%
Expenses	$18,980,667	$14,129,361	+0.3%
Net Income	$792,423	$8,882,816	-0.9%

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

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

607

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

$8,155,713

Total Directors

$651,914

Key Employees

$825,908

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Board Vice-Chair	1.0	Officer Director	$0	$0	$0
N/A	Board Chair	1.0	Officer Director	$2,000	$0	$2,000
N/A	Board Vice-Chair	1.0	Officer Director	$0	$0	$0
N/A	Board Treasurer	1.0	Officer Director	$0	$0	$0
N/A	Board Secretary	1.0	Officer Director	$0	$0	$0
N/A	Trustee (partial year)	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	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	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee/Hospital CAO	1.0	Director	$0	$108,957	$649,914
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	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	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
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	President & CEO	1.0	Officer	$0	$417,106	$3,485,645
N/A	Sr VP WCCP/ CDO	12.0	Key Emp	$0	$125,097	$825,908
N/A	Sys Dir Planned Giving and Major Gifts	20.0	Highest	$129,504	$18,970	$230,850
N/A	Dir, Events and Internal Relations	33.0	Highest	$97,739	$36,109	$149,403
N/A	Dir Events/Donor Relation	33.0	Highest	$99,771	$14,320	$129,947
N/A	Sys Dir Events/Community Relatons	32.0	Highest	$217,009	$37,333	$293,578
N/A	Dir Grants	33.0	Highest	$117,238	$17,156	$154,633

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	$19,773,090	$18,980,667	$124,940,491	$792,423
2022	$23,012,177	$14,129,361	$116,613,847	$8,882,816
2021	$19,774,743	$14,935,817	$121,952,447	$4,838,926
2020	$18,470,138	$14,166,192	$110,041,499	$4,303,946
2019	$14,645,693	$13,494,205	$101,246,085	$1,151,488
2018	$14,976,798	$15,628,200	$96,181,695	$-651,402

THE CHILDREN'S HOSPITAL FOUNDATION INC