WHITFIELD HEALTHCARE FOUNDATION INC
Mission Statement
The Whitfield Healthcare Foundation, an affiliate of Hamilton Health Care System (System), is a not-for-profit philanthropic organization. The Foundation’s primary mission is to encourage charitable gifts that support and advance the mission of the System and Affiliates.” Through the work of the Trustees, the Foundation will build relationships with those individuals, businesses and foundations capable of making charitable contributions. Funds will be allocated for facilities, equipment, staffing and programs that enhance patient care, promote health education, provide access to care regardless of the ability to pay and improve the quality of life in our region. Funds also may be retained as an endowment for future health care needs.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
89.1% | 84.8% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
10.2% | 11.6% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.8% | 0.0% |
P10P90
|
Below median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
160.7 mo | 9.9 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
1.2% | 13.5% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
53.5% | 91.1% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
90.5% | 8.1% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
93.1% | 7.2% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
32.3% | 2.4% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $9.0M | $6.1M | $82.0M | 89.1% | 0 |
| 2023 | $4.7M | $3.2M | $74.2M | 82.8% | 0 |
| 2022 | $4.1M | $3.6M | $70.4M | 79.9% | 0 |
| 2021 | $11.0M | $15.1M | N/A | — | 0 |
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