Westlake Health Foundation
- Assets
- $142.2m
- Revenue
- $7.2m
- Investments
- $141.8m
- Employees
- 0
- Location
- Oakbrook Terrace, IL
- Founding
- 10/1981
- Data as of
- 12/2022
- EIN
- 36-3104071
Organization Overview
Westlake Health Foundation is located in Oakbrook Terrace, IL. The organization was established in 1981. According to its NTEE Classification (E90) the organization is classified as: Nursing, 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. Westlake Health Foundation 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 12/2022, Westlake Health Foundation generated $7.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $13.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Westlake Health Foundation has awarded 277 individual grants totaling $28,383,689. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Ruzicka CFO | 40 | $145,816 | |
David R Hey Chairman And CEO | 40 | $281,212 | |
Richard Montalbano Secretary | 2 | $0 | |
Fred Tomera MD Treasurer | 2 | $0 | |
Saundra Spilotro Director | 2 | $0 | |
Jack Olinger Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Captrust | 12/30/22 | $128,239 |
Walton Street Capital | 12/30/22 | $125,045 |
Eagle Capital Management | 12/30/22 | $124,198 |
Crow Holdings Capital | 12/30/22 | $110,629 |
Pinnacle | 12/30/22 | $89,511 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $282 |
| Dividends & Interest | $1,529,224 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,296,543 |
| Capital Gain Net Income | $5,296,543 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $398,665 |
| Total Revenue | $7,224,714 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $427,028 |
| Other employee salaries and wages | $331,143 |
| Pension plans, employee benefits | $66,862 |
| Interest | $0 |
| Taxes | $131,046 |
| Depreciation | $0 |
| Occupancy | $129,661 |
| Travel, conferences, and meetings | $10,013 |
| Printing and publications | $751 |
| Other expenses | $24,272 |
| Total operating and administrative expenses | $1,880,957 |
| Contributions, gifts, grants paid | $11,454,669 |
| Total expenses and disbursements | $13,335,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $171,045 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $65,928,339 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $265,151 |
| Total assets | $142,200,348 |
| Accounts payable and accrued expenses | $92,605 |
| Grants payable | $5,749,085 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $592,183 |
| Total liabilities | $6,433,873 |
Grants Awarded
Over the last fiscal year, Westlake Health Foundation has awarded $11,454,669 in support to 57 organizations.
| Grant Recipient | Amount |
|---|---|
AGING CARE OPTIONS PURPOSE: AGING WELL NEIGHBORHOOD PROGRAM | $25,000 |
ACCESS COMMUNITY HEALTH NETWORK PURPOSE: MELROSE PARK FAMILY HEALTH CENTER PROGRAM | $25,000 |
AMERICAN HEART ASSOCIATION PURPOSE: INFANT CPR: ENSURING SAFETY FOR OUR MOST VULNERABLE RESIDENTS | $50,000 |
ASPIRE OF ILLINOIS PURPOSE: DSP RECRUITMENT AND RETENTION PLAN | $500,000 |
BEDS PLUS INC PURPOSE: SUMMIT SERVICE CENTER | $35,000 |
BENEDICTINE UNIVERSITY PURPOSE: WESTLAKE SCHOLARSHIP PROGRAM | $300,000 |