Program areas at Inova Health System Foundation
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. Inova Health System 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 2020, 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 2020 to support many other Inova programs including the Inova juniper program, Inova center for wellness and metabolic Health, Inova cares 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. Effective december 31, 2019, loudoun healthcare Foundation and alexandria healthcare Foundation merged into the Inova Health System foundation.inova Health care services (ihcs) is a tax-exempt, non-stock corporation that serves the Health care needs of the community by establishing, maintaining and operating hospital and Health care facilities, programs, and other shared and integrated Health care delivery arrangements. Ihcs operates the following facilities, among others: Inova fairfax hospital ("fairfax"); Inova mount vernon hospital ("mount vernon"), Inova fair oaks hospital ("fair oaks") and Inova alexandria hospital ("alexandria"). Ihcs also provides and manages the clinical, non-hospital facilities and programs whose services include senior services, assisted living facilities, addiction treatment services for adults and adolescents, outpatient rehabilitation services, urgent care and other outpatient Health care services. Ihcs also maintains a group of primary care and specialty physicians operating as the Inova medical group. Effective december 31, 2019, lhc merged into ihcs. Lhc was a tax-exempt, non-stock corporation that serves the Health care needs of loudoun county, Virginia, and surrounding areas. In addition to Inova loudoun hospital ("loudoun"), lhc operated loudoun nursing and rehabilitation center, loudoun healthcare Foundation and other Health care and related facilities.inova home Health (ihh) provides 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). Inova home Health completed 111,113 home Health visits in 2020.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 3,058 children and families in 2020; the Inova juniper program serving over 1,600 persons living with hiv; and the life with cancer program with 40,105 service hours spent with patients. Foundation funds also support many other Inova programs including the Inova center for wellness and metabolic Health, Inova cares clinics for women and children, and the Inova kellar center's behavioral services program.total support provided in 2020 to the community and Inova programs was approximately $18.3 million.
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 $2.3 million in 2020.
Investment management fees of $8.8 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.