Norwegian American Hospital Foundation

Analysis

Norwegian American Hospital Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in June 1986, 40 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Norwegian American Hospital Foundation reported income of $918k and spending of $784k, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.6m to $918k (-75%), an average of -29% a year. The sharpest change came in the year to September 2023, when income dropped by 50%. Over the whole period it spent 50% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Norwegian American Hospital Foundation sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Phi Sigma Kappa Foundation Incorporated ($918k), Hillel the Foundation for Jewish Campus Life ($918k) and Androscoggin Valley Home Care Services ($918k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 83% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $151k (19% of expenses). At year end it held assets of $7.0m against liabilities of $14k, net assets of $7.0m.