Financial Highlights from fiscal year 2023

Funds Raised

With your support, 2023 was another record-breaking year, with $62.2 MILLION in gifts to advance the lifesaving work of HonorHealth.

Thank you for your contribution to finding cures, saving lives and transforming healthcare!

Supporters

Donations

Donations come in many different ways

It starts with a gift, which might be cash, stock or real estate. Or it could be a deferred bequest designated in your estate plan or a Charitable Gift Annuity (CGA). In-kind gifts of technology, equipment or usable goods offset costs.

Where do the gifts go? You choose the program you wish to support and the financial mechanism that works best for you — 100 percent of your gift goes directly to the program you designate.

Generous supporters tell us what type of gift they wish to make. Our investment accounts hold:

• Unrestricted gifts may be used immediately to meet HonorHealth needs.
       Unrestricted balance: $82,162,774

• Restricted gifts are held in an investment account to be released to the HonorHealth department or program as designated by the donor.
       Restricted balance: $41,556,104

• Endowed funds are held in an investment account, to grow via interest earned, for a future purpose. The Board of Trustees establishes the annual spend rate (from three to five percent). This investment income supports the donor’s designated program.
       Endowed balance: $176,252,046

2023 total investments: $299,970,924

Investment note: HonorHealth Foundation’s investment portfolio is managed by Merrill Lynch under the direction of the Board of Trustees. The portfolio’s objective is to achieve a total return sufficient, on average, to maintain the purchasing power of the Foundation and provide stability for the portfolio over time to support HonorHealth needs.

Investment Performance

Financial Highlights

*HonorHealth system funds all staff and operating expenses. 100% of every dollar raised is directed to its stated donor intended purpose. No donor funds were used to produce this report.

The Foundation audit for 2022 was consolidated with the HonorHealth audit and was completed with no management letter comments and no audit differences.

Distributions

Programs supported through philanthropy

Sampling of programs supported through philanthropy in 2023

HonorHealth Foundation 2022 IRS Form 990 (PDF file. Note: the most recent IRS Form 990 is published as it is available)

The Foundation audit for 2022 was consolidated with the HonorHealth audit and was completed with no management letter comments and no audit differences.