Holy Cross Health Foundation Inc
- Assets
- $14.5m
- Revenue
- $2.8m
- Investments
- $2.6m
- Employees
- 0
- Location
- Silver Spring, MD
- Founding
- 04/2007
- Data as of
- 06/2022
- EIN
- 20-8428450
Organization Overview
Holy Cross Health Foundation Inc is located in Silver Spring, MD. The organization was established in 2007. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holy Cross Health Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Holy Cross Health Foundation Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR THE PROGRAMS OF HOLY CROSS HEALTH AND ITS AFFILIATES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLY CROSS HEALTH FOUNDATION ("FOUNDATION") BEGAN ITS OPERATIONS ON JULY 1, 2006. LOCATED IN SILVER SPRING, MARYLAND, IT WAS FOUNDED TO SUPPORT THE CHARITABLE GOALS OF HOLY CROSS HEALTH AND ITS SUBSIDIARIES.THE FOUNDATION RAISED OVER $2.2 MILLION IN FISCAL YEAR 2022. IT ORGANIZES ITS FUNDRAISING ACTIVITIES AROUND DIRECT APPEALS TO HOLY CROSS HEALTH'S PATIENTS AND DONORS, TO THE COMMUNITY AT-LARGE, FUNDRAISING EVENTS, GRANT SUBMISSIONS TO PRIVATE FOUNDATIONS AND PUBLIC ENTITIES, CAPITAL CAMPAIGNS, AND THROUGH PLANNED GIVING INITIATIVES THAT INCLUDE BEQUESTS AND CHARITABLE GIFT ANNUITIES. FOR MORE INFORMATION, SEE SCHEDULE I AND THE FOUNDATION WEBSITE AT WWW.HOLYCROSSHEALTH.ORG/DONATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norvell Coots MD Director; Hch President And CEO | OfficerTrustee | 1 | $0 |
Anne Gillis Assistant Treasurer; Hch CFO | Officer | 1 | $0 |
Elizabeth Simpson Asst. Secy; Hch VP Managing Counsel | Officer | 1 | $0 |
Alisa Smallwood Chief Development Officer | Officer | 50 | $0 |
Wendy Fitzsimmons Director Of Foundation Operation | 40 | $0 | |
Eric Miller Major Gifts Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,264,907 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,264,907 |
| Total Program Service Revenue | $0 |
| Investment income | $330,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $164,930 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,760,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,254,785 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $340,856 |
| Compensation of current officers, directors, key employees. | $153,385 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $126,692 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,498 |
| Payroll taxes | $33,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,205 |
| Fees for services: Other | $152,121 |
| Advertising and promotion | $3,526 |
| Office expenses | $11,393 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $995 |
| Interest | $1,478 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,986,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,213,403 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,803 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,965,538 |
| Investments—other securities | $2,643,691 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,682,739 |
| Total assets | $14,507,174 |
| Accounts payable and accrued expenses | $59,420 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,468,741 |
| Total liabilities | $11,528,161 |
| Net assets without donor restrictions | -$4,060,086 |
| Net assets with donor restrictions | $7,039,099 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,507,174 |