BBB Wise Giving Report for
HealthWell Foundation

BBB Wise Giving Report issued September 2011
BBB Wise Giving Report expires May 2013


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: HealthWell Foundation
Address: Post Office Box 4133
  Gaithersburg, MD 20878
Phone: 800-675-8416
Web Address: www.healthwellfoundation.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2003, District of Columbia
Affiliates: None
Stated Purpose: "to reduce financial barriers to care for underinsured patients with chronic or life-altering diseases."

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Evaluation Conclusions

               

HealthWell Foundation (HWF) does not meet the following Standard for Charity Accountability.

Standard 4: Compensated Board Members - Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.

HWF does not meet this Standard because:

  • Five (5) members out of the six (6) member board of directors (83%), including the chair and treasurer, are directly compensated.
HealthWell Foundation (HWF) meets the remaining 19 Standards for Charity Accountability.
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Programs

               

HWF provides financial assistance to underinsured patients living with chronic or life-altering diseases such as cancer, asthma, and autoimmune disorders. The organization helps eligible individuals afford their out-of-pocket costs for prescription drug copayments, coinsurance, deductibles, premiums, and other selected out-of-pocket costs. Since 2003, the organization reports that it has helped over 100,000 patients afford their medical treatments.

For the year ended December 31, 2009, HWF's program expenses were:

  
Program services 83,325,455
Education and outreach 425,707
Total Program Expenses: $83,751,162
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Governance

               

Chief Executive : Mary P. Sundeen, President
Compensation*:
 $71,643

Highest Paid Executive: Shela Halper, Director of Strategic Development and Marketing
Compensation*: $145,816

Chair of the Board: Stephen Weiner
Chair's Profession / Business Affiliation: Attorney

Board Size: 6

Paid Staff Size: 8

*September 1, 2009 - December 31, 2009 compensation includes salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, grant proposals, Internet appeals, planned giving, and mobile giving.
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $67,538,322, 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 HWF's audited financial statements for the year ended December 31, 2009.

Source of Funds  
Contributions and grants 67,538,322
Investment income 2,102,642
Unrealized gains on investments 449,120
Other income 2,373
Total Income $70,092,457


chart



Uses of Funds as a % of Total Expenses

Programs: 98%  Fund Raising: 0.5  Administrative: 2% 

Total income   $70,092,457
  Program expenses $83,751,162
  Fund raising expenses 428,295
  Administrative expenses 1,308,972
 
Total expenses   $85,488,429
Expenses in Excess of Income   (15,395,972)
Beginning net assets   89,102,409
Ending net assets   73,706,437
Total liabilities   35,408,946
Total assets   $109,115,383


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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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