Inova Health System Foundation
77% goes to programs $25 to raise $100 Strong reserves Declining revenue
Inova Health System Foundation is a 501(c)(3) organization based in Fairfax, Virginia, registered in 1978, with $885,906,035 in FY2024 revenue. CharityIndex grades it A, and it directs about 77% of spending to programs.
8095 Innovation Park Dr, Fairfax, VA, 22031 EIN 54-1071867 Since 1978
Revenue (FY2024)
$885.9M
▼ 1.9% vs prior year
Health median: $840K
Expenses (FY2024)
$55.1M
Net assets
$6.2B
Employees
59
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating77% to programs · $25 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Inova Health System Foundation: 77% to programs · $25 to raise $100 earns a B+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating1343 mo reserves · +94% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Inova Health System Foundation: 1343 mo reserves · +94% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Inova Health System Foundation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Inova Health System Foundation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Inova health system foundation, 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.
What they do
Investment management expense of $6.7 million is 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 $2.2 million in 2024.
Contact & location
- Address
- 8095 Innovation Park Dr, Fairfax, VA, 22031
- City
- Fairfax
- State
- Virginia
- Category
- Health Care
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $153.9M (FY2014) to $885.9M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.0BNet assets $6.2B
Operating margin
93.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$9.2B
Total liabilities
$3.0B
Net assets
$6.2B
Salaries & benefits
$11.0M
20% of expenses
Board members
15
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $885,906,035▼1.9% | $55,112,749▼12.2% | $6,167,025,020▲19.1% | $9,169,739,339▲16.7% | 990 |
| 2023 | $903,496,197▲227% | $62,751,510▲0.1% | $5,179,187,063▲21.8% | $7,860,546,699▲12.1% | 990 |
| 2022 | -$714,218,363▼156% | $62,680,221▲32.9% | $4,253,770,839▼20.0% | $7,010,668,996▼12.6% | 990 |
| 2021 | $1,284,842,416▲55.9% | $47,163,476▲1.1% | $5,319,330,242▲28.4% | $8,018,486,010▲20.0% | 990 |
| 2020 | $824,217,139▲0.3% | $46,657,835▼20.5% | $4,141,997,886▲24.7% | $6,680,265,525▲16.6% | 990 |
| 2019 | $821,639,394▲710% | $58,662,095▲11.2% | $3,322,505,240▲34.6% | $5,727,201,448▲19.4% | 990 |
| 2018 | -$134,687,991▼118% | $52,774,360▲8.2% | $2,468,622,342▼11.8% | $4,798,487,417▼5.7% | 990 |
| 2017 | $765,927,428▲139% | $48,754,670▲23.6% | $2,798,135,640▲30.2% | $5,087,709,890▲15.2% | 990 |
| 2016 | $319,839,550▲853% | $39,459,861▲11.9% | $2,148,291,331▲16.0% | $4,416,628,943▲8.7% | 990 |
| 2015 | $33,573,590▼78.2% | $35,272,219▼3.1% | $1,851,875,122▼0.1% | $4,063,523,768▲4.3% | 990 |
| 2014 | $153,944,727 | $36,387,204 | $1,854,386,399 | $3,896,907,487 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Steven Norris — $671,603 (1.22% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Steven Norris | President Svp Ihs Foundation | 40 | $671,603 |
| Laura Moses | Avp Foundation Ops and Finance | 40 | $308,348 |
| Suzanne Quinn | Avp Philanthropy Program L | 40 | $273,605 |
| Amy Richards | Avp Philanthropy Program Leader | 40 | $265,199 |
| Shannon Hiskey | Exec Dir Philanthropy | 40 | $240,729 |
| Janet Filip | Exec Dir Philanthropy | 40 | $226,133 |
| Alan Dabbiere | Trustee | 3 | — |
| Alice Pope | Asst Treasurer/cfo Ending 1/1/24 | 13 | — |
| Charles Beard | Trustee | 3 | — |
| Christopher Smith | Former Vp Finance Iah | 40 | — |
| Jean Stack | Trustee | 3 | — |
| Jeffrey Mckay | Trustee | 3 | — |
| Jill Duncan | Trustee | 3 | — |
| John Gaul | Asst Sec/chief Legal Officer | 12 | — |
| J Stephen Jones | Ceo, President | 13 | — |
| Kathryn Falk | Trustee | 3 | — |
| Lesley Kalan | Trustee | 3 | — |
| Madeline Erario Md | Trustee | 40 | — |
| Mark Moore | Trustee | 3 | — |
| Nazzic Keene | Chairman | 3 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Artisan | Investment Fees | $1,861,742 |
| Northern Trust | Investment Fees | $1,184,441 |
| Marketeam LLC | Marketing | $995,766 |
| Aetna Life Insurance | Insurance Fees | $845,258 |
| Koan Health LLC | Insurance Fees | $694,261 |
Grants received · $32.5M total
108 grants to Inova Health System Foundation totaling $32.5M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Medical / public services | 2024 | $850,200 |
| American Endowment Foundation | Health, general | 2024 | $125,750 |
| Winston-salem Foundation | 1 grant(s) for varying purposes | 2024 | $100,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $45,000 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $39,950 |
| American Online Giving Foundation Inc | General support | 2024 | $38,127 |
| Greater Washington Community Foundation | General support | 2024 | $25,000 |
| Amyotrophic Lateral Sclerosis Assn | One time clinic support payment fy25 | 2024 | $25,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $10,500 |
| Paypal Charitable Giving Fund | General support | 2024 | $9,625 |
| National Philanthropic Tr | Human services | 2023 | $2,021,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $1,525,520 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $1,038,500 |
| Donor Advised Charitable Giving | Health | 2023 | $823,175 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2023 | $370,000 |
Grants made · $26.1M in FY2024
1 grant totaling $26.1M in FY2024. All grants made by Inova Health System Foundation →
| Recipient | Purpose | Amount |
|---|---|---|
| Inova Health Care Services | Multiple grants made to further the mission of inova health care services of providing quality healthcare to the community. | $26,107,043 |
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Frequently asked questions
- Is Inova Health System Foundation a legitimate nonprofit?
- Yes. Inova Health System Foundation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 54-1071867, based in Fairfax, Virginia. Donations are tax-deductible.
- What is Inova Health System Foundation's EIN?
- Inova Health System Foundation's Employer Identification Number (EIN) is 54-1071867.
- How much revenue does Inova Health System Foundation report?
- Inova Health System Foundation reported $885,906,035 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Inova Health System Foundation's spending goes to programs?
- Inova Health System Foundation spends about 77% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Inova Health System Foundation have?
- CharityIndex grades Inova Health System Foundation A, based on program efficiency and fundraising cost.
- How much does Inova Health System Foundation's highest-paid employee make?
- The highest reported compensation on Inova Health System Foundation's latest Form 990 is $671,603, paid to Steven Norris (President Svp Ihs Foundation).
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Data for Inova Health System Foundation (EIN 54-1071867) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.