Better Business Bureau Report for
Norton Healthcare Foundation

Better Business Bureau Report issued September 2012
Better Business Bureau Report expires September 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Norton Healthcare Foundation
Address: 234 E. Gray Street, Suite 450
  Louisville, KY 40202
Phone: 502-629-8060
800-444-2523
Web Address: www.nortonhealthcare.com
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Better Business Bureau Comments

Year, State Incorporated: 1977, Kentucky
Affiliates: None
Stated Purpose: Norton Healthcare Foundation is the philanthropic arm of Norton Healthcare, Inc., representing the acute care hospitals that primarily serve adults and their newborn children. The Foundation's sole purpose is to raise funds and generate volunteer support for the hospitals’ vital programs and services.

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Evaluation Conclusions

              

Norton Healthcare Foundation meets the 20 Standards for Charity Accountability.
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Programs

              

The Norton Healthcare Foundation supports the work and mission of the following hospitals to ensure that equipment, facilities, programs, services, and educational initiatives continue to keep pace with community health care needs: Norton Hospital, which includes the Norton Healthcare Pavilion; Norton Audubon Hospital; Norton Suburban Hospital; and Norton Brownsboro Hospital. Norton Healthcare Foundation is committed to continually strengthening its partnership with the adult hospitals of the Norton Healthcare system. Through an effective process of raising funds and friends, the foundation will grow in its commitment to serve and achieve increasing philanthropic support in order to enhance patient care. The Foundation relies on the generosity of others to ensure that the adult hospitals of Norton Healthcare have the equipment, facilities, and programs that make a difference in the care provided to its patients.

For the fiscal year ended December 31, 2011, Norton Healthcare Foundation's program expenses were:

  
Programs 1,219,020
Capital Projects 686,047
Financial Assistance 17,000
Total Program Expenses: $1,922,067
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Governance

              

Chief Executive : Lynnie Meyer, MSN, CFRE, RN, Chief Development Officer
Compensation*: 

Chair of the Board: Krista Ward
Chair's Profession / Business Affiliation: Kindred Healthcare, Inc.

Board Size: 24

Paid Staff Size: 4

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Fund Raising

              

Method(s) Used:

Medthods of fund raising include direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, and planned giving arrangements
Fund raising costs were 11% of related contributions. (Related contributions, which totaled $5,799,375, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Norton Healthcare Foundation's audited financial statements for the fiscal year ended December 31, 2011.

Ending net assets as reported below include $339,300 in unrestricted net assets , $20,651,026 in temporarily restricted net assets, and $16,087,823 in permanently restricted net assets.


Source of Funds  
Donations & Gifts 5,799,375
Other 514,025
Losss on investments -73,080
Total Income $6,240,320


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Uses of Funds as a % of Total Expenses

Programs: 64%  Fund Raising: 22%  Administrative: 14% 

Total income $6,240,320
Program expenses $1,922,067
Fund raising expenses 654,794
Administrative expenses 436,530
Total expenses $3,013,391
Income in Excess of Expenses 3,226,929
Beginning net assets 34,254,365
Other Changes in Net Assets (403,145)
Ending net assets 37,078,149
Total liabilities 2,307,352
Total assets $39,385,501

The BBB has determined that the organization's use of funds is reasonable even though the organization's program service expense ratio is slightly below the 65% requirement in Standard 8.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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