INOVA HEALTH SYSTEM FOUNDATION
8095 INNOVATION PARK DR, FAIRFAX, VA · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $885,906,035 | $55,112,749 | $6,167,025,020 |
| FY2023 | $903,496,197 | $62,751,510 | $5,179,187,063 |
| FY2022 | -$714,218,363 | $62,680,221 | $4,253,770,839 |
| FY2021 | $1,284,842,416 | $47,163,476 | $5,319,330,242 |
| FY2020 | $824,217,139 | $46,657,835 | $4,141,997,886 |
| FY2019 | $821,639,394 | $58,662,095 | $3,322,505,240 |
| FY2018 | -$134,687,991 | $52,774,360 | $2,468,622,342 |
| FY2017 | $765,927,428 | $48,754,670 | $2,798,135,640 |
| FY2016 | $319,839,550 | $39,459,861 | $2,148,291,331 |
| FY2015 | $33,573,590 | $35,272,219 | $1,851,875,122 |
| FY2014 | $153,944,727 | $36,387,204 | $1,854,386,399 |
| FY2013 | $538,792,125 | $25,634,465 | $1,728,270,645 |
| FY2012 | $178,255,043 | $23,748,662 | $1,390,795,016 |
| FY2011 | $170,819,205 | $19,840,983 | $1,101,262,326 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $44,324,894 | 104% |
| Program service revenue | -$1,777,973 | -4% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $42,388,611 | 77% |
| Management & general | $1,786,437 | 3% |
| Fundraising | $10,937,701 | 20% |
What the numbers show
- Contributions & grants made up 104% of total revenue in FY2024.
- Program services accounted for 77% of functional expenses, management & general 3%, and fundraising 20%.
- 77% of functional expenses went to program services in FY2024. That is higher than 23.9% of 92 Health Care organizations in VA.
- Net assets covered about 1342.8 months of expenses at the end of the reporting year. That puts it in the 99th percentile among 539 Health Care organizations in VA.
- Total revenue was higher than 98.9% of 553 Health Care organizations in VA.
- Total revenue rose from $170,819,205 in FY2011 to $885,906,035 in FY2024, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2015, FY2018, FY2022).
- The highest revenue on record here is $1,284,842,416 in FY2021.
- Net assets grew from $1,101,262,326 to $6,167,025,020 between FY2011 and FY2024.
- Donations are generally tax-deductible (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
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.
IRS status
| Ruling year | 1978 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | E110 — Health Care (in VA) |
| Donations | Donations are generally tax-deductible (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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