2025-11-11T13:55:36-06:00 2024-12-31 346565596 ERNST & YOUNG US LLP 221 E 4TH ST SUITE 2900 CINCINNATI OH 45202 990 2024-01-01 541071867 INOVA HEALTH SYSTEM FOUNDATION INOV 5714728123 8095 INNOVATION PARK DRIVE FINANCE FAIRFAX VA 22031 RICARDO TALENTO CFO 5714728123 2025-11-10 1 0 JULIE L SPARKS P01268401 5136121400 2024 2025-03-06 01:10:19Z INOVA HEALTH SYSTEM J STEPHEN JONES MD 8095 INNOVATION PARK DRIVE FINANCE FAIRFAX VA 22031 893472832 0 X HTTPS://FOUNDATION.INOVA.ORG X 1977 VA 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. 15 13 59 129 -2213245 0 112114802 44324894 -1499285 -1777973 780436550 826991109 12444130 16368005 903496197 885906035 34238104 26107043 0 0 10839178 11038664 0 0 10937701 17674228 17967042 62751510 55112749 840744687 830793286 7860546699 9169739339 2681359636 3002714319 5179187063 6167025020 X INOVA HEALTH SYSTEM FOUNDATION IS THE PARENT OF INOVA HEALTH SYSTEM (IHS). IHS PROVIDES HEALTHCARE AND RELATED SERVICES THROUGHOUT NORTHERN VIRGINIA AND THE GREATER METROPOLITAN WASHINGTON, D.C. AREA, INCLUDING CERTAIN CONTIGUOUS COUNTIES OF VIRGINIA AND MARYLAND. 0 0 33463796 26107043 12254585 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 UNIQUE 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 ABILITY TO PAY.PROVIDING FREE AND BELOW COST HEALTH SERVICES TO MEET THE IDENTIFIED NEEDS OF 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 2024, FOUNDATION FUNDS WERE USED TO ELEVATE OUR PHILANTHROPIC PRIORITIES OF SUPPORTING INOVA'S WORLD-CLASS CANCER, CARDIOVASCULAR, AND BEHAVIORAL HEALTH CARE PROGRAMS AND OTHER AREAS, INCLUDING THOSE THAT RELY HEAVILY ON PHILANTHROPIC SUPPORT SUCH AS INOVA PETERSON LIFE WITH CANCER, ARTS AND HEALING, INOVA CARES CLINICS, AND THE INOVA KELLAR CENTER.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"), INOVA LOUDOUN HOSPITAL ("LOUDOUN") 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 OPERATED BY ITS RESPECTIVE SERVICE LINE DIVISIONS AND JOINTLY MANAGED BY IHCS' PHYSICIAN SERVICES DIVISION. 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 CHANGED ITS NAME ON JUNE 1, 2024. ALTERNATE SOLUTIONS HOME HEALTH COMPLETED 72,420 HOME HEALTH VISITS IN 2024.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.PHILANTHROPY 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 47,362 CHILDREN AND FAMILIES IN 2024; THE INOVA JUNIPER PROGRAM SERVING 1,827 PERSONS LIVING WITH HIV; AND THE LIFE WITH CANCER PROGRAM WITH 31,470 PARTICIPANTS. FOUNDATION FUNDS ALSO SUPPORT MANY OTHER INOVA PROGRAMS INCLUDING INOVA CARES FOR WOMEN, CHILDREN AND FAMILIES AND THE INOVA KELLAR CENTER'S BEHAVIORAL SERVICES PROGRAM.TOTAL SUPPORT PROVIDED IN 2024 TO THE COMMUNITY AND INOVA PROGRAMS WAS APPROXIMATELY $26 MILLION. 6715582 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. 2209233 3080964 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. 42388611 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 X 99 0 1 59 1 1 1 1 BR CA CO EZ DA FR GM GR JA MY HK BE KS TU MX EI NL PE UK 0 0 0 1 1 0 0 0 0 0 0 X 15 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X INOVA HEALTH SYSTEM FOUNDATION 5714728123 8095 INNOVATION DRIVE FINANCE FAIRFAX VA 22031 JEAN STACK TRUSTEE 3.00 0.00 X 0 0 0 PAUL SAVILLE TREASURER 3.00 0.00 X X 0 0 0 RENEE DESILVA SECRETARY 3.00 0.00 X X 0 0 0 ALAN DABBIERE TRUSTEE 3.00 0.00 X 0 0 0 TERRI MCCLEMENTS TRUSTEE 3.00 0.00 X 0 0 0 JEFFREY MCKAY TRUSTEE 3.00 0.00 X 0 0 0 MARK MOORE TRUSTEE 3.00 0.00 X 0 0 0 NAZZIC KEENE CHAIRMAN 3.00 0.00 X X 0 0 0 CHARLES BEARD TRUSTEE 3.00 0.00 X 0 0 0 PAUL MISENER TRUSTEE 3.00 0.00 X 0 0 0 LESLEY KALAN TRUSTEE 3.00 0.00 X 0 0 0 J STEPHEN JONES CEO, PRESIDENT 13.00 37.00 X X 0 6505968 73485 MADELINE ERARIO MD TRUSTEE 40.00 0.00 X 0 476627 123214 JILL DUNCAN TRUSTEE 3.00 0.00 X 0 0 0 KATHRYN FALK TRUSTEE 3.00 0.00 X 0 0 0 RICARDO TALENTO ASST TREASURER/CFO BEG 1/1/24 13.00 37.00 X 0 702376 174348 JOHN GAUL ASST SEC/CHIEF LEGAL OFFICER 12.00 38.00 X 0 1679638 108811 ALICE POPE ASST TREASURER/CFO ENDING 1/1/24 13.00 37.00 X 0 1125575 73326 STEVEN NORRIS PRESIDENT SVP IHS FOUNDATION 40.00 0.00 X 671603 0 74918 AMY RICHARDS AVP PHILANTHROPY PROGRAM LEADER 40.00 0.00 X 265199 0 80266 LAURA MOSES AVP FOUNDATION OPS AND FINANCE 40.00 0.00 X 308348 0 66163 SUZANNE QUINN AVP PHILANTHROPY PROGRAM L 40.00 0.00 X 273605 0 62926 JANET FILIP EXEC DIR PHILANTHROPY 40.00 0.00 X 226133 0 86316 SHANNON HISKEY EXEC DIR PHILANTHROPY 40.00 0.00 X 240729 0 60808 SAGE BOLTE FORMER PPRESIDENT IHS FOUNDATION 40.00 0.00 X 0 831073 152264 CHRISTOPHER SMITH FORMER VP FINANCE IAH 40.00 0.00 X 0 458253 104808 TERRI FEELY FORMER CHIEF PEOPLE OFFICER IHS 10.00 40.00 X 0 1682483 142904 1985617 13461993 1384557 31 1 1 0 ARTISAN 875 E WISCONSIN AVE SUITE 800 MILWAUKEE WI 53202 INVESTMENT FEES 1861742 NORTHERN TRUST 50 S LASALLE STREET CHICAGO IL 60603 INVESTMENT FEES 1184441 MARKETEAM LLC 1200 ABERNATHY ROAD NE SUITE 400 ATLANTA GA 30328 MARKETING 995766 AETNA LIFE INSURANCE 151 FARMINGTON AVE HARTFORD CT 06156 INSURANCE FEES 845258 KOAN HEALTH LLC 5100 N OCONNER BLVD SUITE 325 IRVING TX 75039 INSURANCE FEES 694261 13 1881782 155938 42287174 2147461 44324894 LORTON LLC PARTNERSHIP LOSS 621400 -1777973 -1777973 -1777973 127968683 -2213245 130181928 704787512 0 5765086 704787512 -5765086 699022426 699022426 184575 1881782 930092 -745517 -745517 17985141 871619 17113522 17113522 885906035 15335549 -2213245 828458837 X 26107043 26107043 671603 671603 8456109 1752270 454152 6249687 348711 104265 19536 224910 963548 321862 60306 581380 598693 171958 32219 394516 870372 733027 137345 142 120 22 6715582 6715582 8289035 4639735 869331 2779969 311005 128486 24074 158445 154775 112800 21135 20840 661792 557055 104373 364 89299 4275 801 84223 22115 1933 362 19820 20 17 3 370560 228842 42877 98841 3984 3355 629 INCOME TAX 253913 253913 FOOD 68518 480 90 67948 TAXES AND LICENSES 66171 54802 10268 1101 MISCELLANEOUS FEES 63508 57191 4809 1508 26251 21910 4105 236 55112749 42388611 1786437 10937701 3391952 1622685 85811346 85992681 1316265 411069 6542644 1870548 3571490 4672096 2645508808 3350052012 5026971230 5484635644 93975608 242353152 7860546699 9169739339 2651846 1001313 415545 220869 2678292245 3001492137 2681359636 3002714319 X 4881229736 5840936778 297957327 326088242 5179187063 6167025020 7860546699 9169739339 X 830793286 -1290781 7336212 150999240 X X 0 1 X 1 0 X X 1 INOVA HEALTH CARE SERVICES 540620889 3 1 26107043 0 1 26107043 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1 DURING THE TAX YEAR, THE CEO AND PRINCIPAL OFFICER OF THE FOUNDATION (STEPHEN JONES), ITS CFO (RICARDO TALENTO) AND ITS ASSISTANT SECRETARY AND SENIOR VICE PRESIDENT (JOHN GAUL) WERE THE SOLE DIRECTORS OF ITS SUPPORTED ORGANIZATION, INOVA HEALTH CARE SERVICES (IHCS), AND SERVED IN IDENTICAL OR SUBSTANTIALLY IDENTICAL OFFICER ROLES FOR IHCS. THUS, THE CONTROL AND MANAGEMENT OF THE FOUNDATION WAS VESTED IN THE SAME PERSONS WHO CONTROLLED AND MANAGED IHCS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 50306281 2448032 10683971 1341318 62096966 48354120 587377 2573832 -10000 1219048 50306281 48377513 381967 -3198608 10000 -2803248 48354120 42259191 1572187 5815551 10000 1204687 54729 48377513 27539601 12582985 2555415 25000 393655 155 42259191 0.10000 0.69000 0.21000 0 0 2275486 2275486 2245449 1347774 897675 601004 522774 78230 1420705 1420705 4672096 5484635644 F 5484635644 DUE TO SUBSIDIARIES AND AFFILIATES 2998865664 LEASE LIABILITY 2626473 3001492137 X PART V, LINE 4: THE INOVA HEALTH SYSTEM FOUNDATION MANAGES OVER 100 INDIVIDUAL ENDOWMENT FUNDS. THE ENDOWED FUNDS PROVIDE STABLE FINANCIAL SUPPORT TO A WIDE VARIETY OF PROGRAMS AND INITIATIVES IN PERPETUITY, PLAYING A CRITICAL ROLE IN ENABLING INOVA TO ACHIEVE ITS MISSION. PROGRAMS AND INITIATIVES SUPPORTED BY ENDOWED FUNDS INCLUDE SCHOLARSHIPS FOR CLINICAL STAFF, PROFESSIONAL EDUCATION, PATIENT EDUCATION, RESEARCH, COMMUNITY OUTREACH PROGRAMS, AND OPERATIONAL AND CAPITAL NEEDS SUPPORT. PART X, LINE 2: FROM INOVA HEALTH SYSTEM CONSOLIDATED FINANCIAL STATEMENTS THAT INCLUDE INOVA HEALTH SYSTEM FOUNDATION: THE FOUNDATION AND IHCS ARE NOT-FOR-PROFIT CORPORATIONS AND HAVE BEEN DETERMINED TO BE EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, THESE ENTITIES WILL NOT INCUR ANY LIABILITY FOR FEDERAL INCOME TAX, EXCEPT FOR POSSIBLE UNRELATED BUSINESS INCOME. INOVA HOLDINGS, INC. ("IHI") AND ITS SUBSIDIARIES ARE TAXABLE ORGANIZATIONS. DEFERRED INCOME TAXES ARE PROVIDED FOR ALL SIGNIFICANT TIMING DIFFERENCES BETWEEN REVENUES AND EXPENSES REPORTED FOR FINANCIAL STATEMENT AND FOR TAX PURPOSES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES REQUIRE MANAGEMENT TO EVALUATE UNCERTAIN TAX POSITIONS TAKEN BY THE FOUNDATION. THE FINANCIAL STATEMENT EFFECTS OF A TAX POSITION ARE RECOGNIZED WHEN THE POSITION IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, TO BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT REVIEWS ITS TAX POSITION ANNUALLY AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO MATERIAL UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION HAS RECOGNIZED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THAT THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENT 217455000 EUROPE/GUERNSEY INVESTMENT 121137000 EAST ASIA AND THE PACIFIC INVESTMENT 15405000 0 0 0 0 0 0 353997000 0 353997000 1 0 1 0 1 0 INOVA HONORS 543500 505694 37806 35000 418887 LWC LOBSTER 1081317 961743 119574 20768 156380 4250 232949 1 441540 414345 27195 61858 2066357 1881782 184575 55768 156380 4250 713694 930092 -745517 1 INOVA HEALTH CARE SERVICES 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 540620889 501(C)(3) 26107043 0 MULTIPLE GRANTS MADE TO FURTHER THE MISSION OF INOVA HEALTH CARE SERVICES OF PROVIDING QUALITY HEALTHCARE TO THE COMMUNITY. 1 0 PART I, LINE 2 THE FOUNDATION DONATES FUNDS TO ITS 501(C) (3) SUPPORTED ORGANIZATION, INOVA HEALTH CARE SERVICES, IN FURTHERANCE OF THE MISSION TO IMPROVE THE HEALTH OF THE DIVERSE COMMUNITY IT SERVES THROUGH EXCELLENCE IN PATIENT CARE, EDUCATION AND RESEARCH. EXPENDITURE OF SUCH FUNDS IS OVERSEEN BY THE FOUNDATION'S LEADERSHIP AND BOARD. X X X X X X 0 1 0 0 0 0 0 0 0 J STEPHEN JONES CEO, PRESIDENT 0 2203308 0 3718894 0 583766 0 40250 0 33235 0 6579453 0 0 TERRI FEELY FORMER CHIEF PEOPLE OFFICER IHS 0 786782 0 578739 0 316962 0 102276 0 40628 0 1825387 0 278574 JOHN GAUL ASST SEC/CHIEF LEGAL OFFICER 0 802094 0 578739 0 298805 0 71187 0 37624 0 1788449 0 275872 ALICE POPE ASST TREASURER/CFO ENDING 1/1/24 0 355059 0 766178 0 4338 0 67721 0 5605 0 1198901 0 0 SAGE BOLTE FORMER PPRESIDENT IHS FOUNDATION 0 526063 0 301310 0 3700 0 118539 0 33725 0 983337 0 0 RICARDO TALENTO ASST TREASURER/CFO BEG 1/1/24 0 513514 0 182773 0 6089 0 139121 0 35227 0 876724 0 0 STEVEN NORRIS PRESIDENT SVP IHS FOUNDATION 400081 0 167044 0 104478 0 50109 0 24809 0 746521 0 101511 0 MADELINE ERARIO MD TRUSTEE 0 326733 0 142686 0 7208 0 119492 0 3722 0 599841 0 0 CHRISTOPHER SMITH FORMER VP FINANCE IAH 0 317585 0 138239 0 2429 0 103215 0 1593 0 563061 0 0 LAURA MOSES AVP FOUNDATION OPS AND FINANCE 217061 0 64593 0 26694 0 41650 0 24513 0 374511 0 0 0 AMY RICHARDS AVP PHILANTHROPY PROGRAM LEADER 203322 0 60860 0 1017 0 56313 0 23953 0 345465 0 0 0 SUZANNE QUINN AVP PHILANTHROPY PROGRAM L 209735 0 60860 0 3010 0 61864 0 1062 0 336531 0 0 0 JANET FILIP EXEC DIR PHILANTHROPY 171758 0 53039 0 1336 0 53021 0 33295 0 312449 0 0 0 SHANNON HISKEY EXEC DIR PHILANTHROPY 183215 0 54922 0 2592 0 39254 0 21554 0 301537 0 0 0 PART I, LINE 4B PART I, LINE 4B, SERP PLAN PAYMENTS: TERRI FEELY - $303,251 JOHN GAUL - $286,467 J. STEPHEN JONES - $521,941 LAURA MOSES - $21,933 STEVEN NORRIS - $101,511 THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) IS A NONQUALIFIED RETIREMENT PLAN. EMPLOYEES ELIGIBLE TO PARTICIPATE ARE AT LEVEL OF ASSISTANT VICE PRESIDENT AND ABOVE. EACH YEAR, A CERTAIN PERCENTAGE OF EACH PARTICIPANT'S BASE SALARY IS CONTRIBUTED TO THE SERP RANGING FROM 10% TO 25%, DEPENDING ON THE POSITION. VESTING FOR EACH CONTRIBUTION WILL BE THREE YEARS FROM THE AWARD DATE, AND PARTICIPANTS ARE PAID OUT IMMEDIATELY UPON VESTING. AT AGE 62 AND LATER, PARTICIPANTS ARE 100% VESTED AT THE TIME OF EACH ANNUAL AWARD AND PAID OUT IMMEDIATELY UPON VESTING. ANY VESTED BALANCE IS PAID TO PARTICIPANTS AS A TAXABLE EVENT. X 91336 RESALE VALUE X 60 16251782 MARKET QUOTE X 3 891 MARKET VALUE X 4 6400 MARKET VALUE X GIFT CERTIFICATES 44 8869 MARKET VALUE X EVENT TICKETS 12 6036 MARKET VALUE X VACATION PACKAGE 3 1221 MARKET VALUE 1 0 1 0 PART I, COLUMN B THE ORGANIZATION IS REPORTING A COMBINATION OF BOTH THE NUMBER OF CONTRIBUTIONS AND THE NUMBER OF ITEMS RECEIVED. FORM 990, PART V, LINES 1A AND 2A - NUMBER OF FORMS 1099 AND EMPLOYEES THE ORGANIZATION FILES ITS FORMS 1099 UNDER A SUBSIDIARY ENTITY AND DOES NOT REPORT ANY EMPLOYEE COMPENSATION UNDER ITS OWN EIN. THE ORGANIZATION FALLS UNDER A MASTER PAY AGENT AND DOES NOT FILE ANY PAYROLL RETURNS UNDER ITS OWN EIN, HOWEVER ALL REQUIRED RETURNS HAVE BEEN FILED ON TIME. FORM 990, PART VI, SECTION A, LINE 1A WITH THE EXCEPTION OF THE DUTIES AND RESPONSIBILITIES THAT ARE RESERVED TO THE BOARD OF TRUSTEES AS REQUIRED BY LAW, THE EXECUTIVE COMMITTEE IS APPOINTED BY THE BOARD TO SUPPORT THE BOARD OF TRUSTEES IN THE PERFORMANCE OF ITS DUTIES AND RESPONSIBILITIES THAT ARE TIME-SENSITIVE AND MUST BE ADDRESSED BEFORE THE NEXT REGULARLY SCHEDULED MEETING OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED AND PROVIDED TO THE CORPORATE CONTROLLER AND EXTERNAL TAX CONSULTANTS FOR INITIAL REVIEW. AFTER THE REVIEW IT IS GIVEN TO THE CFO OF INOVA HEALTH SYSTEM FOR REVIEW AND COMMENT. THE FORM 990 IS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. UPON COMPLETION OF THE EXECUTIVE COMMITTEE REVIEW, IT IS PROVIDED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE ORGANIZATION DISTRIBUTES THE CONFLICT OF INTEREST POLICY TO ALL DIRECTORS, OFFICERS, TRUSTEES, AND KEY EMPLOYEES. THE ORGANIZATION REQUIRES THAT EACH DIRECTOR, OFFICER, TRUSTEE, AND KEY EMPLOYEE ACKNOWLEDGE THAT THEY HAVE READ, UNDERSTOOD, AND WILL ABIDE BY THE POLICY. EACH DIRECTOR, OFFICER, TRUSTEE, AND KEY EMPLOYEE IS REQUIRED TO COMPLETE AND SUBMIT AN ANNUAL CONFLICT OF INTEREST DISCLOSURE. THESE DISCLOSURES ARE BROAD AND REQUIRE THAT THE INDIVIDUAL LIST ANY BUSINESS RELATIONSHIPS OR PERSONAL RELATIONSHIPS WITH OTHER DIRECTORS, OFFICERS, TRUSTEES, AND KEY EMPLOYEES, AS WELL AS ANY RELATIONSHIPS WITH COMPETITORS, OR CURRENT OR POTENTIAL VENDORS OR CONTRACTORS. DISCLOSURE STATEMENTS ARE REVIEWED BY SENIOR MANAGEMENT AND ANY POTENTIAL CONFLICTS ARE DISCUSSED WITH GOVERNING BODY CHAIRMAN TO ENSURE THAT ANY MEMBER WHO MAY HAVE A CONFLICT DISCLOSES THEIR POTENTIAL CONFLICT, AND IS DISMISSED FROM RELATED DISCUSSIONS AND RECUSED FROM PARTICIPATION IN APPLICABLE DECISIONS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF ALL SENIOR MANAGEMENT POSITIONS IS EVALUATED ANNUALLY IN CONSIDERATION OF EACH MANAGER'S JOB CONTENT, SCOPE AND COMPLEXITY. COMPENSATION LEVELS FOR EXECUTIVES ARE REVIEWED BY AN INDEPENDENT EXTERNAL CONSULTANT TO ENSURE THAT REMUNERATION IS CONSISTENT WITH THE ORGANIZATION'S COMPENSATION PHILOSOPHY AND OBJECTIVES AND COMPETITIVE WITH OTHER COMPARABLE HEALTH SYSTEMS. THE INDEPENDENT COMPENSATION CONSULTANT REVIEWS NATIONAL, INDUSTRY AND SIZE SPECIFIC COMPENSATION SURVEYS FOR BENCHMARKING. IN ADDITION, THE INOVA HEALTH SYSTEM'S CEO'S COMPENSATION IS REVIEWED ALONG WITH CERTAIN OTHER SENIOR EXECUTIVES AND APPROVED ANNUALLY BY AN INDEPENDENT GOVERNING BOARD, THE EXECUTIVE COMPENSATION & TALENT COMMITTEE. GENERAL INDUSTRY MARKET DATA AND IRS FORMS 990 PEER GROUP DATA IS ALSO UTILIZED FOR REFERENCE ONLY. THE JOB REQUIREMENTS AND COMPLEXITY OF ALL OTHER MANAGEMENT POSITIONS ARE EVALUATED ANNUALLY USING NATIONALLY RECOGNIZED THIRD-PARTY SALARY SURVEYS TO ASSURE THAT THE COMPENSATION FOR SUCH POSITIONS IS CONSISTENT WITH EXTERNAL MARKET COMPENSATION COMPARISONS. SALARY RANGES ARE DEVELOPED FOR EACH MANAGEMENT POSITION CLASSIFICATION TO ENSURE THAT THE COMPENSATION LEVELS FOR THESE POSITIONS ARE CONSISTENT WITH THE ORGANIZATION'S COMPENSATION PHILOSOPHY AND WITH COMPETITIVE MARKET COMPARISONS. COMPENSATION FOR EMPLOYED PHYSICIANS IS REVIEWED AND APPROVED BY THE PROVIDER CONTRACTS COMMITTEE. THE COMMITTEE IS COMPRISED OF EXECUTIVE MANAGEMENT OF THE CLINICAL ENTERPRISE AND PHYSICIAN SERVICES GROUP. THE FAIR MARKET VALUE (FMV) COMPENSATION IS BASED ON FOUR NATIONALLY RECOGNIZED INDUSTRY PHYSICIAN COMPENSATION BENCHMARK SURVEYS (MGMA, AMGA, SULLIVAN & COTTER, GALLAGHER (FORMALLY INTEGRATED)). THE COMMITTEE ALSO UTILIZES INDEPENDENT CONSULTANTS TO PROVIDE FMV OPINIONS FOR POSITIONS THAT ARE NOT READILY AVAILABLE IN THE FOUR PUBLISHED BENCHMARK SURVEYS. THE CONSULTANTS' OPINIONS AND COMPENSATION SURVEY DATA ARE PRESENTED TO THE PROVIDER CONTRACTS COMMITTEE FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 INOVA HEALTH SYSTEM MAKES CERTAIN INFORMATION PUBLICLY AVAILABLE. INOVA'S CONSOLIDATED FINANCIAL STATEMENTS ARE POSTED ON THE ELECTRONIC MUNICIPAL MARKET ACCESS'S (EMMA) WEBSITE ON A QUARTERLY BASIS. INOVA'S GOVERNING DOCUMENTS ARE NOT CURRENTLY PUBLICLY AVAILABLE. WHILE THE CONFLICT OF INTEREST POLICY IS NOT SPECIFICALLY PUBLICLY DISCLOSED, INOVA'S CODE OF CONDUCT IS ON THE PUBLIC WEBSITE. SECTION II OF THE CODE OF CONDUCT DESCRIBES WHAT CAN CONSTITUTE A CONFLICT AND REQUIRES THAT POTENTIAL CONFLICTS BE REPORTED TO MANAGEMENT OR THE CHIEF COMPLIANCE OFFICER AND/OR INOVA'S LEGAL DEPARTMENT. THE CODE OF CONDUCT CONTAINS THE CONFLICT OF INTEREST PRINCIPLES, IS PART OF INOVA'S ORIENTATION AND ANNUAL COMPLIANCE TRAINING, AND IS AVAILABLE TO TEAM MEMBERS AND PHYSICIANS ON INOVA'S INTRANET WEBSITE. FORM 990, PART IX, LINE 11G PURCHASED SERVICES: PROGRAM SERVICE EXPENSES 884,032. MANAGEMENT AND GENERAL EXPENSES 165,638. FUNDRAISING EXPENSES 2,779,969. TOTAL EXPENSES 3,829,639. PHYSCIAN FEES: PROGRAM SERVICE EXPENSES 3,755,703. MANAGEMENT AND GENERAL EXPENSES 703,693. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,459,396. FORM 990, PART XI, LINE 9: EQUITY EARNINGS IN SUBS 149,221,267. LORTON LLC PARTNERSHIP 1,777,973. PART XII, LINE 2B AND 2C - AUDITED FINANCIAL STATEMENTS THE COMPANY IS PART OF THE INOVA HEALTH SYSTEM, A NOT-FOR-PROFIT INTEGRATED HEALTH CARE DELIVERY SYSTEM SERVING NORTHERN VIRGINIA AND SURROUNDING AREAS. THE COMPANY'S FINANCIAL STATEMENTS ARE CONSOLIDATED IN THE INOVA HEALTH SYSTEM CONSOLIDATED FINANCIAL STATEMENTS. INOVA HEALTH SYSTEM IS AUDITED ON AN ANNUAL BASIS BY A "BIG FOUR" INDEPENDENT PUBLIC ACCOUNTING FIRM. IN ADDITION, THEY ARE RESPONSIBLE FOR THE ISSUANCE OF A MANAGEMENT LETTER ENCOMPASSING EACH MEMBER OF THE CONSOLIDATED GROUP. THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES OF INOVA HEALTH SYSTEM IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT, INCLUDING THE HIRING OF THE AUDIT FIRM, REVIEW AND APPROVAL OF AUDITED FINANCIAL STATEMENTS AND COMMUNICATION WITH THE EXTERNAL AUDITORS AT LEAST TWICE A YEAR WITHOUT THE PRESENCE OF INTERNAL MANAGEMENT. PART XII, LINE 3A - A-133 AUDIT THE COMPANY IS PART OF THE INOVA HEALTH SYSTEM (IHS), A NOT-FOR-PROFIT INTEGRATED HEALTH CARE DELIVERY SYSTEM SERVING NORTHERN VIRGINIA AND SURROUNDING AREAS. IHS RECEIVES VARIOUS FEDERAL GRANTS. THESE GRANTS AND AWARDS ARE AUDITED AS PART OF THE CONSOLIDATED INOVA HEALTH SYSTEM UNIFORM GUIDANCE COMPLIANCE AUDIT. THE INOVA HEALTH SYSTEM'S FEDERAL GRANTS ARE AUDITED ON AN ANNUAL BASIS BY A "BIG FOUR" INDEPENDENT PUBLIC ACCOUNTING FIRM. THE FIRM ISSUES A "REPORT OF INDEPENDENT AUDITORS ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS". THE FIRM ALSO ISSUES A "REPORT OF INDEPENDENT AUDITORS ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS". THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES OF INOVA HEALTH SYSTEM IS RESPONSIBLE FOR THE OVERSIGHT OF THE UNIFORM GUIDANCE AUDIT, INCLUDING THE HIRING OF THE AUDIT FIRM, REVIEW AND APPROVAL OF AUDITED FINANCIAL STATEMENTS AND COMMUNICATIONS WITH THE EXTERNAL AUDITORS WITHOUT THE PRESENCE OF INTERNAL MANAGEMENT. SIGNATURE PARTNERS IN HEALTH LLC 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 461392631 HEALTH INSURANCE VA 14188497 0 INOVA HEALTH SYSTEM FOUNDATION INOVA HEALTH CARE SERVICES 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 540620889 HOSPITAL SYSTEM VA 501(C)(3) 3 INOVA HEALTH SYSTEM FOUNDATION 1 LOUDOUN NURSING AND REHABILITATION CENTER 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 541361310 REHABILITATION SERVICES VA 501(C)(3) 10 INOVA HEALTH SYSTEM FOUNDATION 1 ALTERNATE SOLUTIONS HOME HEALTH LLC 1050 FORRER BLVD KETTERING OH 45420 825217263 HOME CARE VA INOVA HEALTH CARE SERVICES RELATED -173725 2484229 0 0 0.51000 INOVA AMBULATORY SURGERY CTR AT LORTON LLC 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 461955980 SURGERY CENTER VA N/A RELATED -1777973 1746602 0 0 0.64030 INOVA HOLDINGS INC 8095 INNOVATION PARK DRIVE FAIRFAX VA 22031 510332880 MEDICAL EQUIPMENT VA INOVA HEALTH SYSTEM FOUNDATION C 168379333 225714742 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 INOVA HEALTH CARE SERVICES S 324708844 INTERCOMPANY BALANCE LOUDOUN NURSING AND REHABILITATION CENTER R 1970313 INTERCOMPANY BALANCE INOVA HEALTH CARE SERVICES B 26107043 GENERAL LEDGER