Inova Health System Foundation

Inova Health System Foundation Overview

Inova Health System Foundation is located in Falls Church, VA. The organization was established in 1978. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2019, Inova Health System Foundation employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Inova Health System Foundation generated $821.6m in total revenue. All expenses for the organization totaled $58.7m during the year ending 12/2019. While expenses have increased by 10.7% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

IHSF, THE PARENT COMPANY OF INOVA HEALTH SYSTEM, OVERSEES AND COORDINATES THE ACTIVITIES OF INOVA HEALTH SYSTEM TO ENSURE THAT THEY FURTHER FOUNDATION'S AND SYSTEM'S TAX-EXEMPT PURPOSES AND SERVES AS A CHARITABLE FOUNDATION TO SUPPORT INOVA'S TAX-EXEMPT ENTITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INOVA HEALTH SYSTEM FOUNDATION (IHSF), THE PARENT COMPANY OF INOVA HEALTH SYSTEM, IS A NON-STOCK, NOT-FOR-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. INOVA HEALTH SYSTEM (INOVA) PROVIDES HEALTHCARE AND RELATED SERVICES THROUGHOUT NORTHERN VIRGINIA AND THE GREATER METROPOLITAN WASHINGTON, D.C. AREA, INCLUDING CERTAIN CONTIGUOUS COUNTIES OF VIRGINIA AND MARYLAND.SINCE ITS INITIATION BY CITIZEN-VOLUNTEERS IN 1956, INOVA AND ITS AFFILIATES HAVE GROWN TO MEET THE CHANGING NEEDS OF A DIVERSE AND GROWING POPULATION. AS A NOT-FOR-PROFIT ORGANIZATION, INOVA DOES NOT HAVE SHAREHOLDERS. IT IS GOVERNED BY THE PEOPLE IT SERVES: MEMBERS OF THE COMMUNITY. THIS MODEL OF GOVERNANCE HELPS TO ENSURE THAT INOVA MEETS THE DIVERSE HEALTHCARE NEEDS OF THE COMMUNITY.IN KEEPING WITH INOVA'S COMMUNITY SERVICE MISSION, INOVA AND ITS AFFILIATES PROVIDE A WIDE RANGE OF PROGRAMS AND SERVICES WHICH DIRECTLY BENEFIT THE COMMUNITY THEY SERVE. THESE INCLUDE:PROVIDING THE HIGHEST QUALITY MEDICAL CARE TO ALL MEMBERS OF THE COMMUNITY, REGARDLESS OF THEIR FINANCIAL RESOURCES.PROVIDING FREE AND BELOW COST HEALTH SERVICES TO MEET THE IDENTIFIED NEEDS OF TARGETED COMMUNITY GROUPS, SUCH AS: THE INDIGENT AND ELDERLY; VICTIMS OF CANCER, HEART DISEASE, AND STROKE; PERSONS AFFECTED BY SUBSTANCE ABUSE; HIV-POSITIVE INDIVIDUALS; AND OTHERS. PROVIDING UNCOMPENSATED CARE IN ACCORDANCE WITH INOVA POLICIES WHICH ENSURE ACCESS TO MEDICALLY NECESSARY CARE FOR ALL INDIVIDUALS. CHARITY CARE IS DEFINED AS FREE OR DISCOUNTED HEALTHCARE SERVICES PROVIDED TO PERSONS WHO CANNOT AFFORD TO PAY. INOVA HEALTH SYSTEM IS ONE OF THE LARGEST PROVIDERS OF UNCOMPENSATED CARE IN VIRGINIA. PROVIDING HEALTH EDUCATION AND A VARIETY OF OTHER SERVICES TO THE COMMUNITY.TRAINING HEALTH PROFESSIONALS AND PARTICIPATING IN MEDICAL RESEARCH ACTIVITIES. IHSF IS COMPRISED OF: INOVA HEALTH SYSTEM FOUNDATION (FOUNDATION), A PARENT COMPANY, WHICH ALSO SERVES AS A CHARITABLE FOUNDATION, RAISING FUNDS TO SUPPORT INOVA'S TAX-EXEMPT ENTITIES. THE FOUNDATION OPERATES IN ACCORDANCE WITH INOVA'S ARTICLES OF INCORPORATION, WHICH PROVIDE THAT ALL FUNDS RAISED, EXCEPT FOR THOSE REQUIRED FOR THE OPERATIONS OF THE FOUNDATION, BE DISTRIBUTED OR HELD IN SUPPORT OF THE CHARITABLE OBJECTIVES AND MISSION OF INOVA AND ITS TAX-EXEMPT SUBSIDIARIES. FUNDS RAISED ARE CHANNELED TO THE COMMUNITY IN THE FORM OF EXPANDED MEDICAL AND OTHER COMMUNITY SERVICES. DURING 2019, FOUNDATION FUNDS WERE USED TO SUPPORT INOVA'S CENTERS OF EXCELLENCE IN CANCER, CARDIOVASCULAR AND NEUROLOGICAL CARE, AS WELL AS THE LIFE WITH CANCER SUPPORT AND EDUCATIONAL PROGRAM AND THE FORENSIC ASSESSMENT CONSULTATION TEAM (FACT) PROGRAM. IN ADDITION, DONATED FUNDS WERE USED IN 2019 TO SUPPORT MANY OTHER INOVA PROGRAMS INCLUDING THE INOVA JUNIPER PROGRAM, INOVA CENTER FOR WELLNESS AND METABOLIC HEALTH, INOVACARES CLINICS FOR WOMEN AND CHILDREN, THE INOVA HEALTHY PLATE CLUB, THE INOVA KELLAR CENTER'S BEHAVIORAL SERVICES PROGRAM, SIMPLICITY HEALTH CLINICS, AND INOVA HEALTH ADVANTAGE PRIMARY CARE CLINICS.INOVA HEALTH CARE SERVICES (IHCS) IS A NOT-FOR-PROFIT CORPORATION THAT OPERATES HOSPITAL FACILITIES, PROGRAMS, AND OTHER SHARED SERVICE ARRANGEMENTS AND CARRIES ON EDUCATION AND RESEARCH ACTIVITIES. AS OF DECEMBER 31, 2019, IHCS OPERATED FOUR HOSPITALS, HAVING A TOTAL OF 1,669 LICENSED HOSPITAL BEDS IN FAIRFAX COUNTY, VIRGINIA - INOVA FAIRFAX HOSPITAL (FAIRFAX), INOVA MOUNT VERNON HOSPITAL (MOUNT VERNON), AND INOVA FAIR OAKS HOSPITAL (FAIR OAKS) AND IN ALEXANDRIA CITY - INOVA ALEXANDRIA HOSPITAL. EACH OF THESE HOSPITALS PROVIDES GENERAL ACUTE CARE SERVICES, INCLUDING EMERGENCY ROOM FACILITIES, INPATIENT AND OUTPATIENT SERVICES, AND A VARYING NUMBER OF ANCILLARY AND SPECIALIZED SERVICES BASED ON THE NEEDS OF THE COMMUNITY. IHCS AND ITS SUBSIDIARIES PROVIDE LONG-TERM CARE AND BEHAVIORAL HEALTH SERVICES. LONG TERM CARE IS PROVIDED THROUGH INOVA ASSISTED LIVING, A TRANSITIONAL LIVING FACILITIES PROVIDER AND THROUGH ELDERLINK, A COOPERATIVE PROGRAM PROVIDING CASE MANAGEMENT SERVICES TO OLDER ADULTS. INOVA HOUSE CALLS PROVIDES PRIMARY MEDICAL CARE TO HOMEBOUND PATIENTS ENSURING PATIENTS ARE ABLE TO AGE IN PLACE. IN ADDITION, COMPREHENSIVE ADDICTION TREATMENT SERVICES PROVIDES SERVICES TO ADULTS SUFFERING FROM ALCOHOL AND OTHER CHEMICAL DEPENDENCIES. THE KELLAR CENTER PROVIDES TREATMENT FOR CHILDREN AND ADOLESCENTS WITH SUBSTANCE ABUSE AND BEHAVIORAL AND EMOTIONAL PROBLEMS. IHCS IS ALSO THE PARENT COMPANY OF FOUR FREE-STANDING 24-HOUR EMERGENCY CENTERS, WHICH ARE AFFILIATED WITH ITS HOSPITALS, AND OPERATES THE INOVA RESEARCH CENTER, WHICH PROVIDES A QUALITY ARENA FOR PROFESSIONAL EDUCATION AND CLINICAL RESEARCH. IN ADDITION, IHCS OPERATES INOVA ALEXANDRIA FOUNDATION, A CHARITABLE FOUNDATION.LOUDOUN HOSPITAL CENTER (LHC) IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO PROMOTE THE HEALTH AND WELL-BEING OF LOUDOUN COUNTY, VIRGINIA, AND SURROUNDING AREAS. LHC OPERATES INOVA LOUDOUN HOSPITAL CENTER (A 183-BED HOSPITAL), LOUDOUN NURSING AND REHABILITATION CENTER, THE ASHBURN HEALTHPLEX, LOUDOUN HEALTHCARE FOUNDATION, AND OTHER HEALTHCARE RELATED FACILITIES.INOVA HOME HEALTH (IHH) TO PROVIDE HOME HEALTH SERVICES, INOVA HAS A JOINT VENTURE WITH ALTERNATE SOLUTIONS HEALTH NETWORK WHICH RESTRUCTURED THE MANAGEMENT OF THE INOVA VNA SERVICES. INOVA MAINTAINS 51% OWNERSHIP OF THE COMPANY, AND THE JOINT VENTURE IS NOW KNOWN AS INOVA HOME HEALTH (IHH).INTOTAL HEALTH, LLC WAS A MEDICAID MANAGED CARE HEALTH INSURANCE PLAN LICENSED BY THE COMMONWEALTH OF VIRGINIA. THE PLAN SERVED APPROXIMATELY 60,000 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES, CHILDREN'S HEALTH INSURANCE PROGRAM RECIPIENTS, AND SUPPLEMENTAL SECURITY INCOME/AGED, BLIND AND DISABLED MEMBERS THROUGH THE MEDALLION 3.0 AND FAMILY ACCESS TO MEDICAL INSURANCE SECURITY PROGRAMS UNTIL THE PLAN WAS SOLD TO UNITED HEALTHCARE EFFECTIVE OCTOBER 31, 2017. THE PLAN VOLUNTARILY SURRENDERED ITS INSURANCE LICENSE EFFECTIVE DECEMBER 26, 2018 AND HAD NO MEMBERS AND NO ACTIVE BUSINESS DURING 2018 AND 2019.INOVA HOLDINGS, INC. (IHI) IS THE PARENT HOLDING COMPANY FOR VARIOUS TAXABLE ENTITIES WITHIN INOVA INCLUDING TECHNICAL DYNAMICS INC., A BIOMEDICAL EQUIPMENT MAINTENANCE AND ENGINEERING COMPANY. IHI AND ITS SUBSIDIARIES OPERATE FACILITIES PROVIDING A VARIETY OF HEALTH CARE AND SUPPORT SERVICES TO PATIENTS AND TO AFFILIATED HEALTH CARE PROVIDERS.PROGRAM SERVICESPHILANTHROPY IS CRITICAL TO INOVA'S MISSION. THERE ARE OVER 500 PHILANTHROPIC FUNDS IN INOVA'S FOUNDATION. THIS BROAD RANGE OF PHILANTHROPY HELPS INOVA STAY ON THE FOREFRONT OF MEDICAL ADVANCES, DEVELOP NEW PROGRAMS TO MEET CHANGING NEEDS, AND PROVIDE AFFORDABLE HEALTHCARE TO ALL WHO NEED IT. PROGRAMS SUPPORTED INCLUDE PARTNERSHIP FOR HEALTHIER COMMUNITIES (PHC), SERVING 21,000 CHILDREN AND FAMILIES IN 2019; THE INOVA JUNIPER PROGRAM SERVING OVER 1,700 PERSONS LIVING WITH HIV; AND THE LIFE WITH CANCER PROGRAM WITH 47,000 SERVICE HOURS SPENT WITH PATIENTS. FOUNDATION FUNDS ALSO SUPPORT MANY OTHER INOVA PROGRAMS INCLUDING THE INOVA CENTER FOR WELLNESS AND METABOLIC HEALTH, INOVACARES CLINICS FOR WOMEN AND CHILDREN, AND THE INOVA KELLAR CENTER'S BEHAVIORAL SERVICES PROGRAM.TOTAL SUPPORT PROVIDED IN 2019 TO THE COMMUNITY AND INOVA PROGRAMS WAS APPROXIMATELY $18.5 MILLION.


INVESTMENT MANAGEMENT FEES OF $11.7 MILLION ARE RELATED TO INVESTMENTS THAT INOVA HEALTH SYSTEM FOUNDATION UTILIZES TO PROVIDE HEALTHCARE AND RELATED SERVICES THROUGHOUT NORTHERN VIRGINIA AND THE GREATER WASHINGTON, D.C., METROPOLITAN AREA. THE FEES ARE CALCULATED BASED ON THE MARKET VALUE OF THE INVESTMENTS TIMES BASIS POINTS ESTABLISHED IN EACH CONTRACT. THE RATES ON THESE CONTRACTS APPLY UNTIL A NEW RATE IS NEGOTIATED.


THE FOUNDATION MAINTAINS AUXILIARY SERVICES AT THE HOSPITALS FOR THE PURPOSE OF OPERATING GIFT AND THRIFT SHOPS THAT PROVIDE SUPPORT TO THE HOSPITALS WITHIN THE SYSTEM. THE AUXILIARIES RECEIVE COMMISSIONS FROM VARIOUS FUNDRAISING ACTIVITIES. THE COST ASSOCIATED WITH THE AUXILIARIES WAS $2.4 MILLION IN 2019.


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Inova Health System Foundation Board, Officers & Key Employees

Inova Health System Foundation Vendors

Vendor Name (Service)Compensation
Kiltearn Partners Llp
Investment Fees
$1,503,859
Vulcan Value Partners Llc
Investment Fees
$909,809
Harding Loevner Lp
Investment Fees
$1,192,867
Northern Trust
Investment Fees
$655,282
Target Marke Team
Marketing
$695,877
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$3,225
Fundraising events$854,052
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$34,181,174
Noncash contributions included in lines 1a–1f $1,137,098
Total Revenue from Contributions, Gifts, Grants & Similar$35,038,451
Total Program Service Revenue$8,593,865
Investment income $68,080,488
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $689,587,380
Net Income from Fundraising Events $506,626
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $12,724,122
Miscellaneous Revenue$0
Total Revenue $821,639,394

Inova Health System Foundation Grants Awarded

Over the last fiscal year, Inova Health System Foundation has awarded $10,657,344 in support to 2 organizations.

Grant RecipientAmount

INOVA HEALTH CARE SERVICES

Org PageRecipient Profile

Falls Church, VA

PURPOSE: MULTIPLE GRANTS MADE TO FURTHER THE MISSION OF INOVA HEALTH CARE SERVICES OF PROVIDING QUALITY HEALTHCARE TO THE COMMUNITY.

$10,440,824

INOVA VNA HOME CARE INC

Org PageRecipient Profile

Falls Church, VA

PURPOSE: MULTIPLE GRANTS MADE TO FURTHER THE MISSION OF INOVA VNA HOME CARE OF PROVIDING QUALITY HEALTHCARE TO THE COMMUNITY.

$216,520
View Grant Profile

Inova Health System Foundation Grants Recieved

Over the last fiscal year, we have identified 10 grants that Inova Health System Foundation has recieved totaling $819,105.

Awarding OrganizationAmount
Betty L Beatty And Guy E Beatty Foundation

Mclean, VA

PURPOSE: PROVIDED SUPPORT FOR MEDICAL SERVICES,RESEARCH,EDUCATION AND COMMUNITY HEALTH

$500,000
Sandy Spring Bank Foundation Inc

Olney, MD

PURPOSE: COVID19 RELIEF

$100,000
Randolph D Rouse Foundation Inc

Arlington, VA

PURPOSE: GENERAL USE BY QUALIFIED DONEE ORGANIZATION

$100,000
The O Shaughnessy Hurst Memorial Foundation Inc

Leesburg, VA

PURPOSE: UNRESTRICTED

$50,000
Ethel Cox Marden Charitable Foundation

Mc Lean, VA

PURPOSE: CHARITABLECONTRIBUTION

$30,000
Rabaut Family Foundation

Great Falls, VA

PURPOSE: GENERAL

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$25,737,576
Earnings$1,591,240
Admin Expense$5,700
Net Contributions$406,083
Other Expense$187,657
Grants$1,941
Ending Balance$27,539,601

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