CHILDRENS HOSPITAL FOUNDATION
Mission Statement
The Norton Children’s Hospital Foundation is the philanthropic arm for Norton Children’s pediatric facilities and services. The foundation raises funds exclusively for Norton Children’s Hospital, Kentucky’s only full-service, free-standing hospital created “Just for Kids”; Norton Children’s Medical Center; and pediatric services at Norton Women’s & Children’s Hospital to support programs, equipment, new technologies, clinical research, child advocacy and health education for patients, families, medical staff and the community. Norton Children’s Hospital serves all families regardless of their ability to pay. As part of a not-for-profit organization, Norton Children’s facilities rely on the generosity of the community to help fulfill our mission to provide for the physical and emotional health of children, from birth to adulthood. It takes the generosity of everyone in the community to enable Norton Children’s to be here for all children when they need us. Thanks to donations from the community, the Norton Children’s Hospital Foundation is able to support the needs of Norton Children’s Hospital and its sister facilities, which serve nearly 185,000 children annually from throughout Kentucky and Southern Indiana. With your financial help, the foundation is able to support Norton Children’s facilities in the following ways: • Recruit key clinical and research leaders • Purchase state-of-the-art technology and equipment • Expand important regional patient care programs • Construct facilities and enhance specialty areas to better serve patients and families
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
|
73.1% | 84.6% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
6.8% | 14.6% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
20.1% | 0.0% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
307.2% | 270.7% |
P10P90
|
Below median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
84.9 mo | 6.8 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
2.7% | 35.3% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
79.9% | 92.5% |
P10P90
|
Above median |
|
Revenue growth
Year over year revenue growth
|
62.3% | 7.2% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
3.1% | 7.7% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
39.0% | 1.0% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $32.1M | $19.6M | $138.5M | 73.1% | 33 |
| 2023 | $19.8M | $19.0M | $122.6M | 75.2% | 28 |
| 2022 | $23.0M | $14.1M | $113.3M | 68.0% | 34 |
| 2021 | $19.8M | $14.9M | N/A | — | 30 |
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