Swedish Covenant Health
- Assets
- $703.1m
- Revenue
- $302.8m
- Investments
- $0.0
- Employees
- 2,583
- Location
- Chicago, IL
- Founding
- 07/1975
- Data as of
- 09/2021
- EIN
- 36-2179813
Organization Overview
Swedish Covenant Health is located in Chicago, IL. The organization was established in 1975. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 12/2021, Swedish Covenant Health employed 2,583 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Swedish Covenant Health 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 09/2021, Swedish Covenant Health generated $302.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $295.1m during the year ending 09/2021. While expenses have increased by 2.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SWEDISH COVENANT HEALTH FOLLOWS THE MISSION OF NORTHSHORE UNIVERSITY HEALTHSYSTEM TO "PRESERVE AND IMPROVE HUMAN LIFE."
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hill Fire Protection Llc Fire Protection Services | 12/30/21 | $760,660 |
Prolink Staffing Llc Temporary Labor | 12/30/21 | $3,436,943 |
Maxim Staffing Solutions Temporary Labor Services | 12/30/21 | $1,296,927 |
Nephron Dialysis Center Ltd Healthcare Services | 12/30/21 | $744,155 |
Interior Investments Llc Designing/remodeling Services | 12/30/21 | $596,728 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $30,586 |
| Government grants | $425,545 |
| All other contributions, gifts, grants, and similar amounts not included above | $34,820 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $490,951 |
| Total Program Service Revenue | $294,908,524 |
| Investment income | $140,588 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $471,372 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,820,427 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $940,000 |
| 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. | $4,285,909 |
| Compensation of current officers, directors, key employees. | $4,285,909 |
| Compensation to disqualified persons | $36,162 |
| Other salaries and wages | $108,693,550 |
| Pension plan accruals and contributions | $5,317,020 |
| Other employee benefits | $11,980,823 |
| Payroll taxes | $7,929,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $376,963 |
| Fees for services: Accounting | $174,394 |
| Fees for services: Lobbying | $158,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,368,523 |
| Advertising and promotion | $807,515 |
| Office expenses | $2,617,492 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,457,846 |
| Travel | $144,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,678,622 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,729,100 |
| Insurance | $8,163,439 |
| All other expenses | $11,623,417 |
| Total functional expenses | $295,127,571 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,346,511 |
| Savings and temporary cash investments | $9,258,566 |
| Pledges and grants receivable | $1,082,684 |
| Accounts receivable, net | $46,296,278 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,455,485 |
| Prepaid expenses and deferred charges | $3,516,768 |
| Net Land, buildings, and equipment | $195,905,124 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $101,770 |
| Other assets | $433,140,512 |
| Total assets | $703,103,698 |
| Accounts payable and accrued expenses | $68,322,784 |
| Grants payable | $0 |
| Deferred revenue | $57,776 |
| 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 | $447,608,171 |
| Total liabilities | $515,988,731 |
| Net assets without donor restrictions | $186,064,942 |
| Net assets with donor restrictions | $1,050,025 |
| 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 | $703,103,698 |
Grants Awarded
Over the last fiscal year, Swedish Covenant Health has awarded $955,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: To help defray the costs of uncompensated care to lower income and medically underserved patients at the Health Center. | $950,000 |
Chicago, IL PURPOSE: To help enable youths in foster care to attend college by providing mentors, helping to connect youths to scholarship programs, and advocating at colleges and at the state level for better practices to give youths in foster care a better chance for success. | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Swedish Covenant Health has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
National Breast Cancer Foundation Inc Frisco, TX PURPOSE: SCREENING & DIAGNOSTICS | $100,000 |
Endowment Analysis
| Beg. Balance | $22,765,823 |
| Earnings | $150,165 |
| Net Contributions | $262,195 |
| Other Expense | $170,411 |
| Ending Balance | $23,007,772 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Lukes Hospital Of Kansas City Kansas City, MO | $1,771,100,748 | $1,070,641,998 |
Saint Thomas West Hospital St Louis, MO | $949,679,305 | $1,081,181,844 |
Mercy Hospital Springfield Springfield, MO | $547,925,906 | $1,115,699,805 |
Deaconess Hospital Inc Evansville, IN | $1,921,220,397 | $1,102,144,618 |
Ascension St John Hospital St Louis, MO | $469,518,860 | $965,978,781 |
Advocate North Side Health Network Downers Grove, IL | $946,824,836 | $901,672,521 |
The Carle Foundation Hospital Urbana, IL | $465,988,906 | $1,085,020,210 |
Ssm Healthcare Of Oklahoma Inc St Louis, MO | $640,999,933 | $906,998,301 |
Catholic Health Initiatives-Iowa Corp Des Moines, IA | $1,114,579,485 | $904,841,538 |
Central Iowa Hospital Corporation Des Moines, IA | $1,438,981,448 | $937,321,371 |
Saint Joseph Health System Inc Lexington, KY | $961,743,109 | $864,115,504 |
Uofl Health-Louisville Inc Louisville, KY | $577,142,236 | $950,019,808 |