Holy Cross Health Foundation Inc
Holy Cross Health Foundation Inc. shows asset growth despite recent operating deficits and no reported officer compensation.
EIN: 208428450 · Silver Spring, MD · NTEE: E11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.9M |
| Total Expenses | $2.1M |
| Program Spending | 75% |
| CEO/Top Officer Pay | $15.7 |
| Net Assets | $3.0M |
| Transparency Score | 75/100 |
Is Holy Cross Health Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Holy Cross Health Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Holy Cross Health Foundation Inc
Holy Cross Health Foundation Inc (EIN: 208428450) is a nonprofit organization based in Silver Spring, MD, classified under NTEE code E11. The organization reported total revenue of $3.9M and total assets of $18.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Holy Cross Health Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Holy Cross Health Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.6M |
| Total Expenses | $2.1M |
| Surplus / Deficit | $-467,738 |
| Total Assets | $15.8M |
| Total Liabilities | $12.8M |
| Net Assets | $3.0M |
| Operating Margin | -28.5% |
| Debt-to-Asset Ratio | 80.9% |
| Months of Reserves | 89.7 months |
Financial Health Grade: C
In 2023, Holy Cross Health Foundation Inc reported a deficit of $468K with expenses exceeding revenue, holds 89.7 months of operating reserves (strong position), has a debt-to-asset ratio of 80.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Holy Cross Health Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -40.5% | +6.2% | +8.7% |
| 2022 | +8.6% | +33.7% | -0.2% |
| 2021 | +126.9% | -7.7% | +145.3% |
| 2020 | +3.7% | -8.5% | +5.9% |
| 2019 | -24.6% | -18.3% | +11.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Holy Cross Health Foundation Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Holy Cross Health Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $468K, with expenses exceeding revenue.
- Debt-to-asset ratio: 80.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation on its 990 filings, which is unusual for an organization of its size with assets of $15.7 million. This suggests that executive compensation may be covered by a related entity or through other arrangements not disclosed in these specific filings, warranting further inquiry for complete financial transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Holy Cross Health Foundation Inc's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $467,738 in 2023, $468,740 in 2020, $680,426 in 2019) suggest that annual expenses frequently exceed revenue.
- 0% officer compensation reported across all filings, which is unusual for an organization with significant assets and operations, potentially obscuring the true cost of leadership.
Strengths
The following positive indicators were identified for Holy Cross Health Foundation Inc:
- Significant and consistent growth in assets, from $5,003,758 in 2018 to $15,764,151 in 2023, demonstrating strong long-term financial health and investment management.
- Part of a larger healthcare system (Holy Cross Health), which likely provides operational efficiencies and stability.
- NTEE code E11 indicates a focus on general hospitals, aligning with a clear mission to support healthcare services.
Frequently Asked Questions about Holy Cross Health Foundation Inc
Is Holy Cross Health Foundation Inc a legitimate charity?
Holy Cross Health Foundation Inc (EIN: 208428450) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.9M. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does Holy Cross Health Foundation Inc spend its money?
Holy Cross Health Foundation Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Holy Cross Health Foundation Inc tax-deductible?
Holy Cross Health Foundation Inc is registered as a tax-exempt nonprofit (EIN: 208428450). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Holy Cross Health Foundation Inc CEO make?
Holy Cross Health Foundation Inc's highest-compensated officer earns $15.7 annually. The organization reported $3.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Holy Cross Health Foundation Inc's spending goes to programs?
Holy Cross Health Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Holy Cross Health Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Holy Cross Health Foundation Inc is above average for NTEE category E11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Holy Cross Health Foundation Inc located?
Holy Cross Health Foundation Inc is headquartered in Silver Spring, Maryland and files with the IRS under EIN 208428450. It is classified under NTEE code E11.
How many years of IRS 990 filings does Holy Cross Health Foundation Inc have?
Holy Cross Health Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.9M in total revenue.
Is Holy Cross Health Foundation Inc. financially stable given its recent operating deficits?
While the organization reported an operating deficit of $467,738 in 2023 (Expenses $2,109,240 - Revenue $1,641,502), its assets have consistently grown, reaching $15,764,151. This suggests that while annual operations may not always break even, the foundation has a strong asset base to support its mission.
How does Holy Cross Health Foundation Inc. manage executive compensation if 0% is reported?
The consistent reporting of 0% officer compensation across all available filings indicates that executive compensation is either paid by a parent organization (Holy Cross Health), or through other mechanisms not directly reported on the 990 as officer compensation. This structure requires further investigation for full transparency.
What is the trend in the organization's revenue generation?
Revenue has fluctuated significantly over the past decade, from a low of $1,080,455 in 2019 to a high of $2,760,092 in 2022. The latest reported revenue for 2023 was $1,641,502, indicating variability in its fundraising or income streams.
Filing History
IRS 990 filing history for Holy Cross Health Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Holy Cross Health Foundation Inc's revenue has grown by 34.9%, moving from $1.2M to $1.6M. Total assets increased by 307.1% over the same period, from $3.9M to $15.8M. Total functional expenses rose by 431.8%, from $397K to $2.1M. In its most recent filing year (2023), Holy Cross Health Foundation Inc reported a deficit of $468K, with expenses exceeding revenue. The organization holds $12.8M in liabilities against $15.8M in assets (debt-to-asset ratio: 80.9%), resulting in net assets of $3.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $2.1M | $15.8M | $12.8M | — | — |
| 2022 | $2.8M | $2.0M | $14.5M | $11.5M | — | View 990 |
| 2021 | $2.5M | $1.5M | $14.5M | $11.0M | — | View 990 |
| 2020 | $1.1M | $1.6M | $5.9M | $4.5M | — | View 990 |
| 2019 | $1.1M | $1.8M | $5.6M | $3.5M | — | View 990 |
| 2018 | $1.4M | $2.2M | $5.0M | $2.4M | — | View 990 |
| 2017 | $2.0M | $3.2M | $5.9M | $2.8M | — | View 990 |
| 2016 | $1.2M | $4.1M | $6.1M | $2.0M | — | View 990 |
| 2015 | $1.7M | $5.3M | $8.0M | $966K | — | View 990 |
| 2014 | $1.7M | $4.1M | $10.8M | $0 | — | View 990 |
| 2013 | $8.7M | $222K | $13.1M | $0 | — | View 990 |
| 2012 | $996K | $253K | $4.6M | $0 | — | View 990 |
| 2011 | $1.2M | $397K | $3.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $2.1M, and assets of $15.8M (revenue -40.5% year-over-year).
- 2022: Revenue of $2.8M, expenses of $2.0M, and assets of $14.5M (revenue +8.6% year-over-year).
- 2021: Revenue of $2.5M, expenses of $1.5M, and assets of $14.5M (revenue +126.9% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.6M, and assets of $5.9M (revenue +3.7% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.8M, and assets of $5.6M (revenue -24.6% year-over-year).
- 2018: Revenue of $1.4M, expenses of $2.2M, and assets of $5.0M (revenue -27.4% year-over-year).
- 2017: Revenue of $2.0M, expenses of $3.2M, and assets of $5.9M (revenue +71.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $4.1M, and assets of $6.1M (revenue -31.6% year-over-year).
- 2015: Revenue of $1.7M, expenses of $5.3M, and assets of $8.0M (revenue -2.8% year-over-year).
- 2014: Revenue of $1.7M, expenses of $4.1M, and assets of $10.8M (revenue -80.1% year-over-year).
- 2013: Revenue of $8.7M, expenses of $222K, and assets of $13.1M (revenue +775.8% year-over-year).
- 2012: Revenue of $996K, expenses of $253K, and assets of $4.6M (revenue -18.2% year-over-year).
- 2011: Revenue of $1.2M, expenses of $397K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Holy Cross Health Foundation Inc:
Data Sources and Methodology
This transparency report for Holy Cross Health Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.