NOVO HOLDINGS AS

EIN: 980571483 Philanthropy & Grantmaking
Total Revenue
$3,542,774,981
Total Expenses
$277,559,658
Total Assets
$36,173,313,408
Net Assets
$27,951,076,153
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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
1999
Principal Officer
KASIM KUTAY
Phone
4524999199
Tax Period
2024-01-01 to 2024-12-31

NOVO HOLDINGS AS, founded in 1999, is a large national nonprofit in the Philanthropy & Grantmaking sector that reported $3.5B in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.3B, a strong 92% operating margin.

Mission

NOVO NORDISK FONDEN (NNF) IS AN ORGANIZATION RECOGNIZED BY THE IRS AS DESCRIBED IN SECTION 501(C)(4) THAT AWARDS GRANTS TO SUPPORT SCIENTIFIC, HUMANITARIAN AND SOCIAL CAUSES. NOVO HOLDINGS A/S (NH) HOLDS AND MANAGES NNF'S ENDOWMENT TO ENSURE THAT NNF HAS THE RESOURCES NECESSARY TO SUPPORT ITS SCIENTIFIC, HUMANITARIAN, AND OTHER SOCIAL WELFARE GRANTMAKING.

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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 $0
Program Service Revenue $0
Investment Income $3,532,977,597
Other Revenue $9,797,384
TOTAL REVENUE $3,542,774,981

Expense Breakdown

Grants Paid $0
Salaries & Benefits $64,804,857
Fundraising Expenses $0
Program Expenses $106,954,414
Other Expenses $212,754,801
TOTAL EXPENSES $277,559,658

Year-over-Year Comparison

2024 2023 Change
Revenue $3,542,774,981 $2,825,772,201 +0.3%
Expenses $277,559,658 $286,822,414 0.0%
Net Income $3,265,215,323 $2,538,949,787 +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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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
9
Independent Members
N/A
Employees
126
Volunteers
N/A

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
$8,837,579
Total Directors
9
$2,143,001
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARS REBIEN SORENSEN CHAIR 1.00
Officer Director
$298,063 $0 $672,365
STEEN RIISGAARD VICE CHAIR 1.00
Officer Director
$189,693 $0 $413,317
BRITT MEELBY JENSEN DIRECTOR 1.00
Director
$175,479 $0 $175,479
HENRIK POULSEN DIRECTOR 1.00
Director
$102,959 $0 $102,959
JEPPE CHRISTIANSEN DIRECTOR 1.00
Director
$102,959 $0 $102,959
JEAN-LUC BUTEL DIRECTOR 1.00
Director
$213,342 $0 $213,342
FRANCIS MICHAEL CYPRIAN CUSS DIRECTOR 1.00
Director
$135,413 $0 $135,413
VIVIANE MONGES DIRECTOR 1.00
Director
$135,461 $0 $135,461
SUSANNE ANTONIE SCHAFFERT DIRECTOR 1.00
Director
$191,706 $0 $191,706
KASIM KUTAY CEO 40.00
Officer
$2,442,078 $4,683,158 $7,125,236
NIGEL KEVIN GOVETT CFO 40.00
Officer
$498,174 $128,487 $626,661
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 $3,542,774,981 $277,559,658 $36,173,313,408 $3,265,215,323
2023 $2,825,772,201 $286,822,414 $31,172,125,391 $2,538,949,787