EIN 54-1071867

Inova Health System Foundation

IRS 501(c) type
501(c)(3)
Num. employees
75
Year formed
1977
Most recent tax filings
2020-12-01
Description
The Inova Health System Foundation is the parent company of Inova Health System, and invests in stocks and other investments to provide healthcare and related services throughout northern Virginia and the greater Washington, D.C. metropolitan area.
Also known as...
Fairfax Hospital Foundation
Total revenues
$824,217,139
2020
Total expenses
$46,657,835
2020
Total assets
$6,680,265,525
2020
Num. employees
75
2020

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.

Grants made by Inova Health System Foundation

GranteeGrant descriptionAmount
Inova Health Care Service (IHCS)Multiple Grants Made To Further the Mission of Inova Health Care Services of Providing Quality Healthcare To the Community.$18,316,881

Who funds Inova Health System Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
National Philanthropic TrustHealth$1,696,500
Dudley Family FoundationGeneral Use.$525,200
The Betty L Beatty and Guy E Beatty FoundationProvided Support for Medical Services,research,education and Community Health$500,000
...and 49 more grants received totalling $5,607,132

Personnel at Inova Health System Foundation

NameTitleCompensation
J Stephen JonesChief Executive Officer , President$0
Benjamin FrankChief Operating Officer Former Chief of Staff$1,013,873
Alice PopeChief Financial Officer$0
Richard MagenheimerAssistant Treasurer and Chief Financial Officer$2,456,488
Peter JobseVice President Managing Director$750,302
...and 34 more key personnel

Financials for Inova Health System Foundation

RevenuesFYE 12/2020
Total grants, contributions, etc.$34,158,684
Program services$285,254
Investment income and dividends$40,630,125
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$717,857,819
Net income from fundraising events$-306,033
Net income from gaming activities$0
Net income from sales of inventory$8,855,571
Miscellaneous revenues$22,735,719
Total revenues$824,217,139

Form 990s for Inova Health System Foundation

Fiscal year endingDate received by IRSFormPDF link
2020-122021-11-02990View PDF
2019-122021-02-22990View PDF
2018-122020-02-13990View PDF
2017-122019-02-21990View PDF
2016-122017-12-28990View PDF
...and 7 more Form 990s

Organizations like Inova Health System Foundation

OrganizationLocationRevenue
Cedars Sinai Medical Care FoundationBeverly Hills, CA$448,424,647
UMass Memorial Health Care (UMMHC)Worcester, MA$410,243,999
University Medical Service AssociationTampa, FL$305,877,226
Vidant HealthGreenville, NC$265,011,443
Northshore University HealthsystemEvanston, IL$1,824,615,179
Mount Sinai HospitalNew York, NY$3,126,855,623
Monument Health Rapid City HospitalRapid City, SD$799,060,312
Scripps HealthSan Diego, CA$3,487,106,523
Hartford HospitalHartford, CT$1,909,693,973
University of Chicago Medical CenterChicago, IL$2,229,814,021
Data update history
November 17, 2022
Used new vendors
Identified 1 new vendor, including
August 15, 2022
Posted financials
Added Form 990 for fiscal year 2020
August 4, 2022
Updated personnel
Identified 2 new personnel
August 3, 2022
Used new vendors
Identified 1 new vendor, including
August 3, 2022
Received grants
Identified 11 new grant, including a grant for $500,000 from The Betty L Beatty and Guy E Beatty Foundation
Nonprofit Types
Hospital foundationsGrantmaking organizationsHealth organizationsHeadquarter / parent organizationsCharities
Issues
Health
Characteristics
Funds one specific organizationFundraising eventsOperates internationallyState / local levelEndowed supportTax deductible donations
General information
Address
8110 Gatehouse Rd Suite 400w
Falls Church, VA 22042
Metro area
Washington-Arlington-Alexandria, DC-VA-MD-WV
County
Fairfax County, VA
Website URL
foundation.inova.org/ 
Phone
(703) 289-2433
Facebook page
InovaHealth 
Twitter profile
@inovahealth 
IRS details
EIN
54-1071867
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1977
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
E11: Health Care Single Organization Support
NAICS code, primary
622: Hospitals
Parent/child status
Central organization
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