Northwestern Memorial HealthCare (NMHC) is a not-for-profit healthcare organization headquartered in Chicago, Illinois. Established in 1982 and tax-exempt since June 2011, NMHC serves as the corporate parent for the Northwestern Medicine health system. The organization operates as an integrated academic medical center in collaboration with Northwestern University Feinberg School of Medicine, comprising more than 200 locations throughout the region with a combined workforce of more than 33,000 clinical and administrative staff, medical and science faculty, and medical students.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$15.2B
+10.0% YoY
Annual Giving
$36.0M
-19.3% YoY
Grant Count
43
+13.2% YoY
Avg Grant Size
$837K
-28.7% YoY
Mission & Focus Areas
NMHC's mission is to be an organization of caregivers who aspire to consistent, high standards of quality, cost-effectiveness, and patient satisfaction. The organization seeks to improve the health of the communities it serves by delivering a broad range of services with sensitivity to the individual needs of patients and their families.
The organization is bonded in an essential academic and service relationship with Feinberg School of Medicine of Northwestern University. The quality of services is enhanced through their integration with education and research in an environment that encourages excellence of practice, critical inquiry, and learning.
NMHC's work extends beyond clinical care to include collaboration with public health experts to determine root causes and develop solutions to tackle complex public health issues such as chronic diseases and community violence. As an integrated academic medical health system, NMHC supports some of the nation's most advanced research programs, pushing the boundaries of science and medicine to prevent and cure diseases.
Grantmaking
NMHC engages in grantmaking activities with a focus on Education, Philanthropy, Voluntarism & Grantmaking, and Human Services, primarily in Illinois, New York, and Florida. Based on the most recent IRS Form 990 filing (2024), NMHC reported total giving of $35,993,607, with typical awards ranging from $5,000 to $46,607,367.
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Geographic Focus
Where this funder awards grants
NMHC's grantmaking priorities are primarily focused in Illinois, New York, and Florida.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024 (most recent filing):
- Total Assets: $15.2 billion
- Total Revenue: $2.26 billion
- Total Expenses: $1.8 billion
- Total Liabilities: $11.6 billion
As of 2023:
- Total Assets: $13.8 billion
- Total Revenue: $2.1 billion
- Total Expenses: $1.7 billion
- Net Assets: $2.9 billion
- Net Income: $372.7 million
Revenue Breakdown (2023):
- Program Service Revenue: $1.7 billion (91.6%)
- Investment Income: $151.9 million (7.9%)
- Contributions & Grants: $90,000 (0%)
- Other Revenue: $9.3 million (0.5%)
Compensation (2023):
- Officers & Directors Compensation: $19.8 million
- Other Salaries & Wages: $494.4 million
NMHC employs 5,725 people and maintains a Three-Star rating from Charity Navigator with an 81% overall score based on Accountability & Finance metrics.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $15,237,001,285 | $13,848,071,678 | $12,205,294,228 |
| Revenue | $2,259,070,785 | $2,057,415,454 | $2,009,411,319 |
| Expenses | $1,801,649,652 | $1,684,720,180 | $1,556,886,755 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $553,867,658 | $298,826,314 | $471,340,589 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
165 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key personnel at Northwestern Memorial Foundation include:
- Janet Myers, Vice President, Philanthropy
- Teri Spartz, Program Director, Philanthropy
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Group Number 5878 | Per regulation 1.6033-2(D)(5), This data is found on the group return | — | — |
Recent News & Activity
Recent developments and announcements
Northwestern Medicine has received significant grant funding and philanthropic support in recent years, including a $50 million gift to fuel cardiovascular innovation and a $55 million grant to drive health research advancements. The organization was awarded the first national grant to study wearables for stroke prevention in patients with atrial fibrillation.
Northwestern Medicine Grant Initiatives Directly Impacting Local ...Northwestern Memorial Foundation, the philanthropic arm, received a grant from Exact Sciences in May 2023. The foundation employs 6 people and has experienced 50% year-over-year growth in staffing.
Northwestern Medicine Grant Initiatives Directly Impacting Local ...Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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