Swedish Covenant Hospital Foundation
Swedish Covenant Hospital Foundation maintains strong asset growth and low expenses with no reported officer compensation.
EIN: 205055155 · Arlington Hts, IL · NTEE: E11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.0M |
| Total Expenses | $698K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $64 |
| Net Assets | $62.7M |
| Transparency Score | 90/100 |
Is Swedish Covenant Hospital Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Swedish Covenant Hospital Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Swedish Covenant Hospital Foundation
Swedish Covenant Hospital Foundation (EIN: 205055155) is a nonprofit organization based in Arlington Hts, IL, classified under NTEE code E11. The organization reported total revenue of $10.0M and total assets of $70.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Swedish Covenant Hospital Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Swedish Covenant Hospital Foundation is a mid-size nonprofit that has been operating for 51 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.6M |
| Total Expenses | $698K |
| Surplus / Deficit | +$2.9M |
| Total Assets | $64.0M |
| Total Liabilities | $1.3M |
| Net Assets | $62.7M |
| Operating Margin | 80.7% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 1101.1 months |
Financial Health Grade: A
In 2023, Swedish Covenant Hospital Foundation reported a surplus of $2.9M with revenue exceeding expenses, holds 1101.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Swedish Covenant Hospital Foundation's revenue has grown at a compound annual growth rate (CAGR) of 7.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.7% | -2.8% | +9.1% |
| 2022 | +35.3% | +218.1% | -13.4% |
| 2021 | -57.9% | -82.5% | -1.4% |
| 2021 | -77.5% | +84.6% | +18.8% |
| 2020 | +797.3% | -7.4% | +61.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1975 |
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 Swedish Covenant Hospital Foundation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Swedish Covenant Hospital Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $2.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officer salaries were paid, which is highly unusual for an organization of this size with over $64 million in assets and millions in annual revenue. This suggests either volunteer leadership or that compensation is reported under different categories not specified as 'officer compensation'.
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 Swedish Covenant Hospital Foundation's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data
- Unusually low expenses relative to assets and revenue, potentially indicating significant funds held for future use or an incomplete picture of operational costs if some are borne by an affiliate.
Strengths
The following positive indicators were identified for Swedish Covenant Hospital Foundation:
- Consistent asset growth, reaching $64,032,859 in 2023
- Very low reported expenses relative to revenue and assets, indicating high operational efficiency
- 0% reported officer compensation across all filings, suggesting strong commitment to mission-focused spending
- Consistent IRS 990 filing history, demonstrating transparency
Frequently Asked Questions about Swedish Covenant Hospital Foundation
Is Swedish Covenant Hospital Foundation a legitimate charity?
Swedish Covenant Hospital Foundation (EIN: 205055155) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 90/100. It has 14 years of IRS 990 filings on record. Total revenue: $10.0M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Swedish Covenant Hospital Foundation spend its money?
Swedish Covenant Hospital Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Swedish Covenant Hospital Foundation tax-deductible?
Swedish Covenant Hospital Foundation is registered as a tax-exempt nonprofit (EIN: 205055155). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Swedish Covenant Hospital Foundation CEO make?
Swedish Covenant Hospital Foundation's highest-compensated officer earns $64 annually. The organization reported $10.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Swedish Covenant Hospital Foundation's spending goes to programs?
Swedish Covenant Hospital Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Swedish Covenant Hospital Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Swedish Covenant Hospital Foundation 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 Swedish Covenant Hospital Foundation located?
Swedish Covenant Hospital Foundation is headquartered in Arlington Hts, Illinois and files with the IRS under EIN 205055155. It is classified under NTEE code E11.
How many years of IRS 990 filings does Swedish Covenant Hospital Foundation have?
Swedish Covenant Hospital Foundation has 14 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 $10.0M in total revenue.
How does Swedish Covenant Hospital Foundation manage to operate with 0% officer compensation?
The filings consistently show 0% officer compensation. This could mean that leadership roles are filled by volunteers, or that compensation is paid through an affiliated entity, or categorized differently within the expenses, which would require further investigation beyond the provided data.
What are the primary program services funded by the Foundation?
Based on the NTEE code E11 (General Hospitals), the Foundation likely supports the operations and initiatives of Swedish Covenant Hospital. However, the provided data does not detail specific program expenditures.
Why was there a significant revenue spike in 2020 to over $22 million?
The revenue spike to $22,932,684 in 2020 could be due to a large one-time donation, a capital campaign, or specific grants related to the healthcare sector, possibly influenced by the COVID-19 pandemic. Further details would be needed to confirm the exact cause.
Filing History
IRS 990 filing history for Swedish Covenant Hospital Foundation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Swedish Covenant Hospital Foundation's revenue has grown by 139.6%, moving from $1.5M to $3.6M. Total assets increased by 158.2% over the same period, from $24.8M to $64.0M. Total functional expenses rose by 119.9%, from $317K to $698K. In its most recent filing year (2023), Swedish Covenant Hospital Foundation reported a surplus of $2.9M, with revenue exceeding expenses. The organization holds $1.3M in liabilities against $64.0M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $62.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.6M | $698K | $64.0M | $1.3M | — | — |
| 2022 | $2.9M | $718K | $58.7M | $2.9M | — | View 990 |
| 2021 | $2.2M | $226K | $67.8M | $369K | — | View 990 |
| 2021 | $5.2M | $1.3M | $68.7M | $3.4M | — | View 990 |
| 2020 | $22.9M | $698K | $57.9M | $2.4M | — | — |
| 2019 | $2.6M | $753K | $35.9M | $1.2M | — | View 990 |
| 2018 | $2.6M | $667K | $37.5M | $900K | — | View 990 |
| 2017 | $1.9M | $616K | $36.4M | $0 | — | View 990 |
| 2016 | $992K | $626K | $34.1M | $376K | — | View 990 |
| 2015 | $2.3M | $627K | $31.7M | $0 | — | View 990 |
| 2014 | $6.0M | $577K | $34.9M | $0 | — | View 990 |
| 2013 | $1.6M | $486K | $32.2M | $0 | — | View 990 |
| 2012 | $1.9M | $403K | $28.3M | $0 | — | View 990 |
| 2011 | $1.5M | $317K | $24.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.6M, expenses of $698K, and assets of $64.0M (revenue +22.7% year-over-year).
- 2022: Revenue of $2.9M, expenses of $718K, and assets of $58.7M (revenue +35.3% year-over-year).
- 2021: Revenue of $2.2M, expenses of $226K, and assets of $67.8M (revenue -57.9% year-over-year).
- 2021: Revenue of $5.2M, expenses of $1.3M, and assets of $68.7M (revenue -77.5% year-over-year).
- 2020: Revenue of $22.9M, expenses of $698K, and assets of $57.9M (revenue +797.3% year-over-year).
- 2019: Revenue of $2.6M, expenses of $753K, and assets of $35.9M (revenue +0.1% year-over-year).
- 2018: Revenue of $2.6M, expenses of $667K, and assets of $37.5M (revenue +36.0% year-over-year).
- 2017: Revenue of $1.9M, expenses of $616K, and assets of $36.4M (revenue +89.1% year-over-year).
- 2016: Revenue of $992K, expenses of $626K, and assets of $34.1M (revenue -56.2% year-over-year).
- 2015: Revenue of $2.3M, expenses of $627K, and assets of $31.7M (revenue -62.0% year-over-year).
- 2014: Revenue of $6.0M, expenses of $577K, and assets of $34.9M (revenue +266.8% year-over-year).
- 2013: Revenue of $1.6M, expenses of $486K, and assets of $32.2M (revenue -14.9% year-over-year).
- 2012: Revenue of $1.9M, expenses of $403K, and assets of $28.3M (revenue +26.5% year-over-year).
- 2011: Revenue of $1.5M, expenses of $317K, and assets of $24.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Swedish Covenant Hospital Foundation:
Data Sources and Methodology
This transparency report for Swedish Covenant Hospital Foundation 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.