Inova Health System Foundation
Also known as Inova Health System
Inova Health System Foundation reported $885.9 million in revenue and $55.1 million in expenses for calendar year 2024. Of every $100 it spent, $76.91 went to program services, $3.24 to management and general costs and $19.85 to fundraising. Its largest source of revenue was investment income: 93.3% of the total. The highest compensation it reported for one person was $6,579,453 (CEO, PRESIDENT). 31 people received more than $100,000 in reportable compensation. Revenue rose 8% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $55MFor context, the median across 5,634 covered health care charities: $86.19 programs, $13.81 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $886M- Contributions & grants (non-government)$4.99 $44M
- Investment income$93.16 $827M
- Other revenue$1.85 $16M
Program service revenue was negative: −$1.8M. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 76.9% | 85.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 3.2% | 13.7% |
| Fundraising Part IX 25(D) ÷ 25(A) | 19.8% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.25 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 5.0% | 1.3% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.1% |
| Program service revenue share Part VIII 2g ÷ 12 | -0.2% | 93.7% |
| Highest reported compensation Part VII-A, columns D–F | $6,579,453 | $975,831 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 11.94% | 1.34% |
| People paid over $100,000 Part VII, line 2 | 31 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 1,342.8 | 6.6 |
| Independent voting board members Part VI 1a–1b | 13 of 15 | 88.9% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseInova Health System Foundation (ihsf), the parent company of Inova Health System, is a non-stock, not-for-profit corporation exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. Inova Health System (inova) provides healthcare and related services throughout northern virginia and the greater metropolitan washington, d.c. Area, including certain contiguous counties of virginia and maryland.since its initiation by citizen-volunteers in 1956, inova and its affiliates have grown to meet the changing needs of a diverse and growing population. As a…
Investment management expense of $6.7 million is related to investments that Inova Health System Foundation utilizes to provide healthcare and related services throughout northern virginia and the greater washington, d.c., metropolitan area. The fees are calculated based on the market value of the investments times basis points established in each contract. The rates on these contracts apply until a new rate is negotiated
The foundation maintains auxiliary services at the hospitals for the purpose of operating gift and thrift shops that provide support to the hospitals within the system. The auxiliaries receive commissions from various fundraising activities. The cost associated with the auxiliaries was $2.2 million in 2024
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO, PRESIDENT Director/trustee, officer, 13.00 hrs/week | $0 | $6,505,968 | $73,485 | $6,579,453 |
| FORMER CHIEF PEOPLE OFFICER IHS Former, 10.00 hrs/week | $0 | $1,682,483 | $142,904 | $1,825,387 |
| ASST SEC/CHIEF LEGAL OFFICER Officer, 12.00 hrs/week | $0 | $1,679,638 | $108,811 | $1,788,449 |
| ASST TREASURER/CFO ENDING 1/1/24 Officer, 13.00 hrs/week | $0 | $1,125,575 | $73,326 | $1,198,901 |
| FORMER PPRESIDENT IHS FOUNDATION Former, 40.00 hrs/week | $0 | $831,073 | $152,264 | $983,337 |
| ASST TREASURER/CFO BEG 1/1/24 Officer, 13.00 hrs/week | $0 | $702,376 | $174,348 | $876,724 |
| PRESIDENT SVP IHS FOUNDATION Key employee, 40.00 hrs/week | $671,603 | $0 | $74,918 | $746,521 |
| TRUSTEE Director/trustee, 40.00 hrs/week | $0 | $476,627 | $123,214 | $599,841 |
31 people received more than $100,000 in reportable compensation from Inova Health System Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $672K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b15 · 13 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 559
- Volunteers Part I, line 6129
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| ARTISAN Investment fees | $1,861,742 |
| NORTHERN TRUST Investment fees | $1,184,441 |
| MARKETEAM LLC Marketing | $995,766 |
| AETNA LIFE INSURANCE Insurance fees | $845,258 |
| KOAN HEALTH LLC Insurance fees | $694,261 |
Individuals listed as contractors are left out. 13 contractors were paid more than $100,000 in all.
Private foundation grants it received
25 private foundations reported grants to Inova Health System Foundation totaling $1.4M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Inova Health System Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Inova Health System Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Inova Health System Foundation spent in 2024, $76.91 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Heartland Regional Medical CenterSt Joseph, MO · revenue $883M · programs 87.0% · FY2025
- Beth Israel Lahey HealthCharlestown, MA · revenue $888M · programs 99.9% · FY2025
- St Peter's HospitalAlbany, NY · revenue $882M · programs 91.7% · FY2025
- Owensboro HealthOwensboro, KY · revenue $889M · programs 76.5% · FY2025
- Baptist Health Medical GroupCoral Gables, FL · revenue $878M · programs 83.5% · FY2025
Questions people ask
How much of Inova Health System Foundation's spending goes to programs?
In calendar year 2024, Inova Health System Foundation reported that 76.9% of its $55.1 million in expenses went to program services, 3.2% to management and general and 19.8% to fundraising (Form 990, Part IX).
How much does Inova Health System Foundation pay its top executive?
The largest total compensation Inova Health System Foundation reported for one person in calendar year 2024 was $6,579,453, for the role of CEO, PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Inova Health System Foundation get its money?
Of $885.9 million in revenue in calendar year 2024, 5.0% came from contributions and grants and -0.2% from program service revenue (Form 990, Part VIII).
Is Inova Health System Foundation a registered charity?
The IRS lists EIN 54-1071867 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202503159349304435 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403139349301460 · read the filing
- 2022: Form 990 for calendar year 2022, object 202323059349300247 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243059349302364 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103069349302550 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023009349300852 · read the filing
All filings for EIN 54-1071867: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.