Civic Intelligence

Bethesda Foundation Inc

EIN 23-7374129 • 501(c)3 • Cincinnati, OH

Profile

Support bethesda hospital to accomplish its strategic vision and meet health care challenges.

625 Eden Park Drive 7th FloorCincinnati, OH 45202

www.bethesdafoundation.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.17x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

70th percentile

0.88x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

97th percentile

75%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

35th percentile

2.4%

Faster asset growth than 35% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Revenue Growth

96th percentile

129%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Assets

Up

$181,758,582

Up $28,452,204 (+19%) from 2023

Liabilities

Up

$31,165,355

Up $16,980,647 (+120%) from 2023

Net Assets

Up

$150,593,227

Up $11,471,557 (+8.2%) from 2023

Revenue

Up

$35,556,922

Up $32,224,005 (+967%) from 2023

Expenses

Down

$8,807,419

Down $16,416,129 (-65%) from 2023

Net Income

Up

$26,749,503

Up $48,640,134 (+222%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$200M$150M$100M$50M$0Assets 2010: $88,703,844Liabilities 2010: $11,209,365Net Assets 2010: $77,494,4792010Assets 2011: $96,054,929Liabilities 2011: $7,899,706Net Assets 2011: $88,155,2232011Assets 2012: $96,248,792Liabilities 2012: $13,235,156Net Assets 2012: $83,013,6362012Assets 2013: $105,778,454Liabilities 2013: $13,395,210Net Assets 2013: $92,383,2442013Assets 2014: $121,368,837Liabilities 2014: $17,104,187Net Assets 2014: $104,264,6502014Assets 2015: $118,133,079Liabilities 2015: $16,629,073Net Assets 2015: $101,504,0062015Assets 2016: $115,598,986Liabilities 2016: $20,279,995Net Assets 2016: $95,318,9912016Assets 2017: $132,758,305Liabilities 2017: $27,918,323Net Assets 2017: $104,839,9822017Assets 2018: $137,020,815Liabilities 2018: $27,081,513Net Assets 2018: $109,939,3022018Assets 2019: $137,250,727Liabilities 2019: $22,167,855Net Assets 2019: $115,082,8722019Assets 2020: $138,775,000Liabilities 2020: $25,423,746Net Assets 2020: $113,351,2542020Assets 2021: $178,888,880Liabilities 2021: $36,081,508Net Assets 2021: $142,807,3722021Assets 2022: $173,394,248Liabilities 2022: $38,933,333Net Assets 2022: $134,460,9152022Assets 2023: $153,306,378Liabilities 2023: $14,184,708Net Assets 2023: $139,121,6702023Assets 2024: $181,758,582Liabilities 2024: $31,165,355Net Assets 2024: $150,593,2272024

Highlighted filing

2024

Assets$181,758,582
Liabilities$31,165,355
Net Assets$150,593,227

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$60M$40M$20M$0-$20M-$40MExpenses 2010: $4,278,6132010Expenses 2011: $10,156,6032011Expenses 2012: $4,665,5722012Expenses 2013: $5,326,1212013Revenue 2014: $19,635,918Expenses 2014: $6,788,352Net Income 2014: $12,847,5662014Revenue 2015: $7,181,159Expenses 2015: $7,151,391Net Income 2015: $29,7682015Revenue 2016: -$500,852Expenses 2016: $7,616,348Net Income 2016: -$8,117,2002016Revenue 2017: $24,185,856Expenses 2017: $7,963,098Net Income 2017: $16,222,7582017Revenue 2018: $23,358,395Expenses 2018: $13,074,326Net Income 2018: $10,284,0692018Revenue 2019: $7,684,097Expenses 2019: $5,869,909Net Income 2019: $1,814,1882019Revenue 2020: $5,905,692Expenses 2020: $7,141,037Net Income 2020: -$1,235,3452020Revenue 2021: $46,708,654Expenses 2021: $10,760,938Net Income 2021: $35,947,7162021Revenue 2022: $6,801,197Expenses 2022: $6,420,061Net Income 2022: $381,1362022Revenue 2023: $3,332,917Expenses 2023: $25,223,548Net Income 2023: -$21,890,6312023Revenue 2024: $35,556,922Expenses 2024: $8,807,419Net Income 2024: $26,749,5032024

Highlighted filing

2024

Revenue$35,556,922
Expenses$8,807,419
Net Income$26,749,503

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$182$31.2$151$35.6$8.81$26.7
2023Detailed filing. Detailed filing data is available for this year.$153$14.2$139$3.33$25.2$21.9
2022Detailed filing. Detailed filing data is available for this year.$173$38.9$134$6.80$6.42$0.38
2021Detailed filing. Detailed filing data is available for this year.$179$36.1$143$46.7$10.8$35.9
2020Detailed filing. Detailed filing data is available for this year.$139$25.4$113$5.91$7.14$1.24
2019Detailed filing. Detailed filing data is available for this year.$137$22.2$115$7.68$5.87$1.81
2018Detailed filing. Detailed filing data is available for this year.$137$27.1$110$23.4$13.1$10.3
2017Detailed filing. Detailed filing data is available for this year.$133$27.9$105$24.2$7.96$16.2
2016Detailed filing. Detailed filing data is available for this year.$116$20.3$95.3$0.50$7.62$8.12
2015Detailed filing. Detailed filing data is available for this year.$118$16.6$102$7.18$7.15$0.03
2014Detailed filing. Detailed filing data is available for this year.$121$17.1$104$19.6$6.79$12.8
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$13.4$92.4$5.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.2$13.2$83.0$4.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.1$7.90$88.2$10.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.7$11.2$77.5$4.28
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 13, 2025
Return Version
2023v6.0
Gross Receipts
$62,905,785
Mission and Program Overview

Mission

Support bethesda hospital to accomplish its strategic vision and meet health care challenges.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$124,048,661$143,226,346▲ $19,177,685
Investments Other Securities$27,411,720$26,320,897▼ $1,090,823
Cash and Non-Interest-Bearing Accounts$1,022,596$11,268,214▲ $10,245,618
Pledges and Grants Receivable$821,726$802,642▼ $19,084
Land, Buildings, and Equipment, Net$1,675$140,483▲ $138,808
Total Assets$153,306,378$181,758,582▲ $28,452,204
Liabilities
Other Liabilities$13,477,745$30,867,793▲ $17,390,048
Accounts Payable and Accrued Expenses$706,963$297,562▼ $409,401
Total Liabilities$14,184,708$31,165,355▲ $16,980,647
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$119,374,514$130,365,066▲ $10,990,552
Net Assets With Donor Restrictions$19,747,156$20,228,161▲ $481,005
Total Net Assets Fund Balance$139,121,670$150,593,227▲ $11,471,557
Total Liabilities and Net Assets / Fund Balance$153,306,378$181,758,582▲ $28,452,204

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$694,117$694,117
Equipment$33,864$197,793$231,657
Buildings$106,619$970$107,589
Other Securities$8,160,698--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$16,690,662$415,170▲ $1,909,777$320,000$18,695,609
2022$16,054,492$1,013,025▼ $376,855-$16,690,662
2021$8,727,127$8,596,301▼ $407,523$861,413$16,054,492
2020$5,835,927$3,617▲ $1,887,583$-1,000,000$8,727,127
2019$5,963,798$2,375▲ $40,712$170,958$5,835,927
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Beth SimsSr Development OfficerFT$136,946$136,946

Board Members and Trustees

NameTitle
Kathy GriggChairperson
Andrew SwallowPresident & CEO
Gaurang Gandhi MdVice Chairperson
Laura KumlerDirector of Development
Ashwin RamprasadTrustee
Edward Crane MdTrustee
Hector MedinaTrustee
Jill MillerTrustee
John ProutTrustee
Julietta SchusterTrustee
KATHRYN O'KEEFE MDTrustee
Loren Hiratzka MdTrustee
Marilyn DukeTrustee
Mark ClementTrustee
Michael Shehata MdTrustee
Robert MitchellTrustee
Stacey MeyerTrustee
Tracey StofaTrustee
Craig Eisentrout MdTrustee (end 6/24)
Edmund Jones MdTrustee (end 6/24)
Grant HesserTrustee (end 6/24)
Marie DrewTrustee (end 6/24)
Rachid AbdallahTrustee (end 6/24)
Bill GrafSecretary (end 6/24)
Spencer CropperTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$17,835,325
Program Service Revenue
$622,243
Investment Income
$16,527,698
Other Revenue
$571,656
All Other Contributions
$17,657,314
Change in Net Assets
$26,749,503
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,169,432
Other Expenses$2,637,987
Total Fundraising Expense$469,199
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,131,932--$6,131,932
Fees for Service Investment Mgmnt Fees-$393,659-$393,659
Fees for Services Other-$146,419$39,596$186,015
Office Expenses$601$57,977$104,775$163,353
Advertising$840$76,166$13,229$90,235
Grants to Domestic Individuals$37,500--$37,500
All Other Expenses$20,504$716$325$21,545
Travel-$11,231-$11,231
Other Expenses$50$6,842$305,544$6,842
Information Technology-$6,343-$6,343
Depreciation Depletion$1,257$3,982-$5,239
Conferences and Meetings-$3,172-$3,172
Fees for Services Legal-$315-$315
Total Functional Expenses$6,192,684$2,145,536$469,199$8,807,419
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bethesda Hospital IncCincinnati, OH501(c)(3)General Operating and Capital Support$5,297,024
Bethesda Healthcare IncCincinnati, OH501(c)(3)School-based Behavioral Health Grant Payment & Other Grants$397,105
Good Samaritan Hospital of Cincinnati OhioCincinnati, OH501(c)(3)Funding for School-to-work Apprenticeship Program$319,512
Trihealth IncCincinnati, OH501(c)(3)Fall Prevention Grant Payment$50,000
University of Cincinnati FoundationCincinnati, OH501(c)(3)Health Improvement Grant Payment$26,950
Trihealth Physician InstituteCincinnati, OH501(c)(3)General Operating Support$26,920
Trihealth Physician Enterprise CorpCincinnati, OH501(c)(3)General Operating Support$6,582
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$861,299
Fundraising Direct Expenses$289,643
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bethesda Lyceum$369,292$267,232$19,108$248,124
Celebration of Angels$301,741$225,790$22,977$202,813
Total Events$1,039,310$861,299$289,643$571,656
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Organizations$30,867,793
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Bethesda foundation, inc. Has a single corporate member, bethesda, inc.

Form 990, Part VI, Section A, Line 7A

Bethesda foundation, inc. Has a single corporate member, bethesda, inc., who has the ability to elect members to the governing body of bethesda foundation, inc.

Form 990, Part VI, Section A, Line 7B

Bethesda, inc. Must approve amendments to bethesda foundation, inc.'s governing documents, dissolution or consolidation of bethesda foundation, inc. And any transaction involving substantially all of bethesda foundation inc.'s property.

Form 990, Part VI, Section B, Line 11B

Members of the board are provided an electronic copy of this form 990 prior to filing. However, for the protection of donor privacy, schedule b - schedule of contributors was removed from the copy provided to the board. Subsequent to presentation to the board, the organization files the return making any non-substantive changes necessary to effect e-filing. Any such non-substantive changes are not submitted to the board.

Form 990, Part VI, Section B, Line 12C

All board members are required to annually disclose certain financial interests and fiduciary relationships. The executive committee and corporate counsel review responses, conduct further investigation (if necessary), and determine when a conflict exists with respect to a certain transaction. If a conflict exists, the transaction is not to be entered into unless alternatives are fully investigated, and in their absence, the board, without the participation of the interested member(s), determines that the transaction is in the best interest of the organization. Plans to manage the conflict during the relationship are implemented. All discussions are appropriately documented. All directors and managers, which include officers and key employees, are required to annually disclose any circumstances, including family and business relationships, that may create a conflict of interest for the organization. These responses are reviewed and acted upon by a conflict of interest committee.

Form 990, Part VI, Section C, Line 19

Bethesda foundation, inc.'s governing documents, conflicts of interest policy and financial statements are available upon request.

Form 990, Part VII, Section A

The officers and directors for bethesda foundation, inc. That show at least 60 hours per week, excluding the filing organization's president/ceo, provide services to trihealth, inc. (a related organization who paid the individuals) and its subsidiaries/affiliates ("trihealth") as an entire system. Hours worked, including their duties as officers and directors of the filing organization, are not tracked on an entity by entity basis, thus the average hours per week disclosed are estimates to show that the time spent by these individuals relate to them fulfilling their duties as full-time, 60 hours-per-week employees of trihealth versus their duties as officers and directors of the filing organization. In addition, the compensation reported on form 990, part vii was paid to these individuals in fulfillment of their duties as employees of trihealth.

Form 990, Part VI, Line 1A

The board of trustees of bethesda foundation, inc. ("the corporation"), established an executive committee which may transact all business of the board in the management of the corporation during the period between meetings of the board. It shall act in all personnel matters involving executive personnel including search, selection, employment, compensation, contracts and benefits and it shall assist the board in planning and developing activities or services to further the purposes of the corporation and to assist the community. The executive committee shall consist of the chairperson of the board, the vice chairperson, the president, secretary and treasurer, and two other members of the board selected by the chairperson of the board.

Filing and Contact Details

Filer

Filer Name
Bethesda Foundation Inc
EIN
23-7374129
Phone
5138651616
Address
625 EDEN PARK DRIVE 7TH FLOOR, CINCINNATI, OH 45202

Signing Officer

Name
Michael Crofton
Title
VP Finance
Phone
5138651616
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Swallow
Formed
1974
Legal Domicile
Oh
Voting Board Members
18
Independent Board Members
15
Employees
0
Volunteers
133

Preparer

Firm
Deloitte Tax Llp
Address
111 MONUMENT CIRCLE SUITE 4200, INDIANAPOLIS, IN 46204-5108
Preparer
Shawna M Jansons
Phone
3174648600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

The mission of bethesda foundation, inc. Is to help ensure that bethesda hospital has the resources needed to successfully accomplish its strategic vision and meet the healthcare challenges facing the large, growing community it serves. Bethesda foundation, inc. Cultivates philanthropic support for indigent care, medical education and research, patient services, facilities and community outreach programs provided by bethesda hospital and its related entities.

Form 990, Part III, Line 4A

The bethesda foundation, inc. ("foundation") is organized to accept gifts and bequests, engage in fundraising activities, and manage and invest the assets for the use and benefit of bethesda hospital,inc. And its subsidiaries ("hospital") in the hospital's mission to improve the health status of the growing community it serves. The foundation is a self-funded organization which means 100% of a donor's gift supports the program or service that is designated. Examples include: bethesda hospital generous gifts to support bethesda hospital provide patients and families with the most advanced technology and helps its caregivers deliver exceptional care. Some examples of transformational projects made possible through philanthropic efforts include: comprehensive cancer care robotics center of excellence center for simulation & education physician medical research over the years, foundation has granted over $2 million to fund important physician research studies. These studies help bethesda hospital, inc. Better meet the health care needs of its community. Providing opportunities for physician research is just one more way that foundation saves lives and changes lives. Community foundation has a serious commitment to improving the health of our diverse community through a dynamic community outreach program. Behavioral health intervention - what started out as an effort to place nurses in cincinnati public schools quickly snowballed into a prevention-focused behavioral health program that continues, with donor support, to place clinicians in schools. Today, the program serves inner-city youth in three schools with full-time behavioral health specialists. On a daily basis, foundation-funded behavioral health clinicians identify problems and issues so that children receive intervention when intervention is needed most. Sometimes, this extra help can mean the difference between success and failure in the classroom and potentially, success in life. Lifeline - the lifeline emergency response system links subscribers to immediate help - 24 hours a day. If a subscriber needs help at home but cannot get to a telephone, a simple push of the button worn on the body automatically alerts the trained monitoring staff at bethesda hospital, inc. Who will send help immediately. Security, independence and peace of mind all result from knowing that help is just a push of a button away. Foundation has helped fund lifeline for indigent patients since 2002. Sane - women treated at bethesda hospital, inc. For suspected sexual assault are fortunate they can receive care from a team of specially trained nurses. A sexual assault nurse examiner (sane) goes through specific classroom and hands-on training to provide professional, comprehensive and complete evidence collection for victims of sexual assault. The sane approach helps avoid re-victimization of the survivor, by offering a safe environment, advocacy, education and appropriate follow up services and referral. Bethesda hospital, inc. Is the only suburban hamilton county hospital to offer sane, making it a trusted place for assault victims to seek care and for law enforcement and ems personnel to refer victims for appropriate care. Foundation provided startup funds for the sane program in 1999 and continues to provide financial support. Urban health project - since 1992, foundation has supported the university of cincinnati medical school's urban health project (uhp). The uhp connects future physicians with underserved people in the community during an eight-week summer internship. Medical students who have completed their first year of medical school can apply for an internship working for area social service agencies. The physicians-in-training are assigned responsibilities including direct patient care to education or counseling duties at various community agencies. Related organization support finally, in addition to the assistance provided to bethesda hospital, inc., foundation provides services to

FORM 990, PART XI, LINE 9:

Net related entity contribution management transactions 350,841. Book-to-tax due to related organization financial statement presentation -17,361,247. Miscellaneous -114,000.

Form 990, Part XII, Line 2C

The financial statements of bethesda foundation, inc. ("foundation") are audited with bethesda, inc., the parent organization of foundation. Bethesda, inc. Has a committee that assumes the responsibility for oversight of the audit of both its and its subsidiaries financial statements as well as the selection of the independent auditor. During the tax year, there was not a change in the process of audit oversight and/or selection of an independent auditor by bethesda, inc.

Form 990, Part I, Line 6

During the tax year, bethesda foundation, inc. ("foundation") benefited from 1,389 volunteer hours which were provided by 133 individuals. These volunteers worked in many capacities for the foundation including: board of trustees - the board is responsible for developing policies and working with the foundation staff to oversee and implement them. They actively participate in strategic decisions and matters of policy. Development committee members - these members increase awareness of the foundation and the entities/programs the foundation supports to estate planning professionals in the community. The commitee also engages physicians as advocates for the foundation with grateful patients. Bethesda auxiliary volunteers - these individuals help plan auxiliary activities, events, assist vendors with special sales and support the overall mission of bethesda north hospital and the foundation. Event volunteers - these individuals help with the overall planning and implementation of the events administered by the foundation. They help solicit donations and sponsorships as well as assist with the set up, registration, running and clean up of the various events. Office volunteers - these individuals assist with various office duties including stuffing envelopes, computer work and other various tasks. Grant committee - review and approve community outreach and innovation fund requests for approval.

Financial Statement Notes

PART V, LINE 4:

Investment proceeds from endowment funds are used to support the programs of bethesda hospital, inc. And its subsidiaries.

PART X, LINE 2:

The financial statements of bethesda foundation, inc. Are audited with its parent, bethesda, inc. Following is the text of the footnote to the audited consolidated financial statements of bethesda, inc. ("company") that reports its and its subsidiaries' liability, if applicable, for uncertain tax positions under asc 740-10-25: the company completed an analysis of uncertain tax positions and determined that no amounts were required to be recognized on the consolidated financial statements at june 30, 2024 or 2023.

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