THE HOSPICE OF THE WESTERN RESERVE FOUNDATION

EIN: 863150092 501(c)(3)

CLEVELAND, OH

Total Revenue
$15,664,262
Total Expenses
$6,424,112
Total Assets
$18,627,718
Net Assets
$18,082,207
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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
2021
Legal Domicile
OH
Principal Officer
WILLIAM E FINN
Phone
8778295500
Tax Period
2024-01-01 to 2024-12-31

THE HOSPICE OF THE WESTERN RESERVE FOUNDATION, founded in 2021, is a mid-sized nonprofit that reported $15.7M in total revenue in fiscal year 2024. Revenue surged 77% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.2M, a strong 59% operating margin.

Mission

THE FOUNDATION HAS BEEN FORMED TO HELP ENSURE THE FINANCIAL SUSTAINABILITY OF HOSPICE OF THE WESTERN RESERVE, INC. (HWR) TO BENEFIT HWR AND ITS MISSION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $15,552,352
Program Service Revenue $0
Investment Income $768
Other Revenue $111,142
TOTAL REVENUE $15,664,262

Expense Breakdown

Grants Paid $4,960,729
Salaries & Benefits $502,542
Fundraising Expenses $1,258,051
Program Expenses $4,960,729
Other Expenses $960,841
TOTAL EXPENSES $6,424,112

Year-over-Year Comparison

2024 2023 Change
Revenue $15,664,262 $8,842,057 +0.8%
Expenses $6,424,112 N/A N/A
Net Income $9,240,150 $8,842,057 +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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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
13
Independent Members
10
Employees
N/A
Volunteers
10

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
5
$1,184,615
Total Directors
13
$1,184,615
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM E FINN DIRECTOR 1.00
Officer Director
$0 $36,451 $632,953
JEFFREY KOVACS DIRECTOR & TREASURER 1.00
Officer Director
$0 $18,550 $309,763
LAURA RAYBURN PRESIDENT OF HWR FOUNDATIO 40.00
Officer Director
$0 $28,740 $241,899
WILLIAM BOWMAN CHAIR 1.00
Officer Director
$0 $0 $0
AL CONNORS DIRECTOR & SECRETARY 1.00
Officer Director
$0 $0 $0
KATHY JADALLAH DIRECTOR 1.00
Director
$0 $0 $0
PEGGI MIZEN DIRECTOR 1.00
Director
$0 $0 $0
JOE KOVALCHECK DIRECTOR 1.00
Director
$0 $0 $0
MARY FOTI DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER WAITE DIRECTOR 1.00
Director
$0 $0 $0
CINDY AMES HUFFMAN DIRECTOR 1.00
Director
$0 $0 $0
KATIE DAVIS HOOSENALLY DIRECTOR 1.00
Director
$0 $0 $0
GWEN RIFICI DIRECTOR 1.00
Director
$0 $0 $0
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 $15,664,262 $6,424,112 $18,627,718 $9,240,150
2023 $8,842,057 No data $8,870,390 No data
2022 No data No data No data No data
2021 No data No data No data No data
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