Bon Secours Mercy Health Foundation
TO SUPPORT THE OPERATIONS OF BON SECOURS MERCY HEALTH BY ENCOURAGING CHARITABLE GIVING AND EFFECTIVELY MANAGING GIFT RESOURCES.
IRS Tax Year 2024
Period ending December 31, 2024
Total Revenue
$87.0M
Total Expenses
$52.0M
Net Assets
$429.7M
Employees
94
Volunteers
300
Grants Paid
$33.7M
Program Expense Ratio
64.9%
Fundraising Efficiency
755.5%
This nonprofit profile presents IRS Form 990 tax filing data for Bon Secours Mercy Health Foundation (EIN: 20-1072726), based on the 2024 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Bon Secours Mercy Health Foundation is a 501(c)(3) nonprofit headquartered in Cincinnati, OH, founded in 2004. It is classified under NTEE code X12 (Fund Raising & Fund Distribution), within the Religion category. The organization has held tax-exempt status since 2014. In its 2024 filing, the organization reported $87.0M in total revenue, a 74.3% increase from the prior year, and $52.0M in total expenses. The organization employed 94 people and engaged 300 volunteers. MICHAEL BEZNEY JD, Board Member, Chief Legal Officer & General Counsel, is the highest-compensated individual at $2,517,954. The organization runs 1 program, totaling $33.7M in program expenses. 4 of 6 recommended governance policies are in place.
Bon Secours Mercy Health Foundation is classified under NTEE code X12 (Fund Raising & Fund Distribution), which falls within the Religion category. Its foundation type is 15.
Programs(Tax Year 2024)
1 record
Bon Secours Mercy Health Foundation operates 1 program, with total program expenses of $33.7M. Bon Secours Mercy Health Foundation's largest program accounts for 100% of total program spending.
The Bon Secours Mercy Health Foundation coordinates charitable giving for all hospitals, facilities, programs and services operated by Bon Secours Mercy Health. As a non-profit health care ministry, we depend on generous donors to keep providing the best health care in every community we serve. BON SECOURS MERCY HEALTH FOUNDATION AWARDED $33,674,757 IN GRANTS DURING 2024 TO PROGRAMS THAT ADDRESS THE HEALTHCARE NEEDS OF PERSONS WHO ARE POOR AND UNDERSERVED.
Financial Overview(Tax Years 2019–2024)
6 records
Over the past 6 years, Bon Secours Mercy Health Foundation's revenue has grown from $43.4M to $87.0M, a 100.6% increase. Program expenses represent 65% of total spending.
Revenue increased 74.3% year-over-year, while expenses declined 3.9%. net assets rose to $429.7M, up 21.3% from the prior year. the organization added 3 employees.
Bon Secours Mercy Health Foundation derives 82% from contributions and grants, with 19% from investment income.
Revenue is primarily driven by contributions and grants (82%), with investment income at 19%.
Bon Secours Mercy Health Foundation allocates 65% to programs, 17% to management and general, 18% to fundraising.
Revenue grew by 74.3% while expenses declined by only 3.9%, suggesting improving operational efficiency.
Bon Secours Mercy Health Foundation distributed $33.7M in grants to other organizations and individuals, representing 65% of total expenses.
Over 6 filings from 2019–2024, Bon Secours Mercy Health Foundation grew revenue from $43.4M to $87.0M (+100.6%) while maintaining a program expense ratio of 65%. During this period, the organization grew from 66 to 94 employees.
Bon Secours Mercy Health Foundation holds $436.9M in total assets against $7.3M in liabilities (debt-to-asset ratio of 2%). The organization has 99.2 months of operating reserves. Cash and equivalents of $23.4M cover approximately 5.4 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2024 | $87.0M | $71.1M | $3.5M | $0 | $16.3M |
| 2023 | $49.9M | $40.5M | $2.9M | $0 | $10.2M |
| 2022 | $63.1M | $54.1M | $4.8M | $0 | $9.4M |
| 2021 | $66.9M | $46.4M | $3.8M | $0 | $20.4M |
| 2020 | $57.6M | $44.8M | $13.3M | $0 | $12.8M |
| 2019 | $43.4M | $28.6M | $3.2M | $0 | $15.0M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2024 | $52.0M | $33.7M | $8.8M | $9.4M | $33.7M |
| 2023 | $54.1M | $38.1M | $7.9M | $7.8M | $38.1M |
| 2022 | $58.6M | $42.9M | $7.2M | $8.6M | $42.9M |
| 2021 | $73.1M | $58.7M | $6.0M | $8.4M | $58.7M |
| 2020 | $94.9M | $81.1M | $5.6M | $8.3M | $81.1M |
| 2019 | $33.7M | $23.3M | $3.4M | $7.0M | $23.3M |
Program Expense Ratio
64.9%
Admin Expense Ratio
17.0%
Fundraising Efficiency
755.5%
Operating Reserve
99.2 mo
People & Compensation(Tax Year 2024)
26 records
Bon Secours Mercy Health Foundation reported compensation for 26 officers and key employees. Total officer compensation was $6.5M, representing 12.5% of total expenses. 3 individuals received total compensation exceeding $500,000.
Bon Secours Mercy Health Foundation's highest-compensated individual received $2.5M in total compensation. Total officer compensation of $6.5M represents 12.5% of total expenses. 2 individuals received total compensation exceeding $1,000,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| MICHAEL BEZNEY JD | Board Member, Chief Legal Officer & General Counsel | Director | 1.00 | $0 | $2,479,847 | $2,517,954 |
| TRAVIS CRUM | Former Treasurer, BSMH CFO | Former | — | $0 | $1,439,506 | $1,621,878 |
| Timothy Koder | Board Member, Foundation President | OfficerDirector | 40.00 | $529,772 | $0 | $567,439 |
| BRAD BLANDIN | VP, Charitable Estate and Gift Planning | Highest Comp | 40.00 | $266,270 | $0 | $325,809 |
| Eric Lemen | VP, Foundation Solutions | Highest Comp | 40.00 | $276,476 | $0 | $313,617 |
| Ann Carpin | Richmond Foundation President | Highest Comp | 40.00 | $266,536 | $0 | $302,521 |
| Paul Homick | Youngstown Foundation President | Highest Comp | 40.00 | $265,193 | $0 | $300,516 |
| Scott Pember | Lorain Foundation President | Highest Comp | 40.00 | $257,215 | $0 | $289,689 |
| Becky Sittason | Former Secretary, System Director Donor Engagement | Former | 40.00 | $222,193 | $0 | $240,913 |
| John Sharp | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Karen M Johnson | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Linda Rigsby ESQ | Board Member | Director | 1.00 | $0 | $0 | $0 |
| John H Harris III | Board Chair | OfficerDirector | 1.00 | $0 | $0 | $0 |
| Robert Matthews | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Sr Fran Repka | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Sr Millie Ely | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Sr Patricia Eck CBS | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Steven S Savage | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Lynn Hammerstrom | Secretary | OfficerDirector | 1.00 | $0 | $0 | $0 |
| Floyd Trouten | Vice Chair | OfficerDirector | 1.00 | $0 | $0 | $0 |
| Michael Bice | Treasurer | OfficerDirector | 1.00 | $0 | $0 | $0 |
| Betsy Lambert | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Germaine Bennett | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Jeannine Stephenson Buffong | Board Member | Director | 1.00 | $0 | $0 | $0 |
| Jennifer Yeagley | Board Member | Director | 1.00 | $0 | $0 | $0 |
| John Burns | Board Member | Director | 1.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
Timothy Koder
Base Salary
$304,267
Bonus
$124,697
Other Reportable
$100,808
Retirement/Deferred
$13,494
Nontaxable Benefits
$24,173
MICHAEL BEZNEY JD
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
TRAVIS CRUM
Base Salary
—
Bonus
—
Other Reportable
—
Retirement/Deferred
—
Nontaxable Benefits
—
Becky Sittason
Base Salary
$144,656
Bonus
$28,977
Other Reportable
$48,560
Retirement/Deferred
$6,003
Nontaxable Benefits
$12,717
Ann Carpin
Base Salary
$170,920
Bonus
$45,582
Other Reportable
$50,034
Retirement/Deferred
$13,264
Nontaxable Benefits
$22,721
BRAD BLANDIN
Base Salary
$171,711
Bonus
$42,480
Other Reportable
$52,079
Retirement/Deferred
$23,185
Nontaxable Benefits
$36,354
Eric Lemen
Base Salary
$184,617
Bonus
$42,821
Other Reportable
$49,038
Retirement/Deferred
$23,216
Nontaxable Benefits
$13,925
Paul Homick
Base Salary
$211,144
Bonus
$16,052
Other Reportable
$37,997
Retirement/Deferred
$23,799
Nontaxable Benefits
$11,524
Scott Pember
Base Salary
$163,828
Bonus
$50,955
Other Reportable
$42,432
Retirement/Deferred
$6,486
Nontaxable Benefits
$25,988
Governance & Compliance(Tax Year 2024)
Bon Secours Mercy Health Foundation has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 19 members, 17 of whom are independent.
Bon Secours Mercy Health Foundation's financial statements are audited, an audit committee oversees the process, the organization is subject to a federal grant audit (Single Audit).
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2024)
58 records
Bon Secours Mercy Health Foundation awarded $31.0M across 54 grants to organizations. Top recipients include Bon Secours Mercy Health Inc — $24.6M for program support; St Francis Hospital Inc — $2.1M for program support; Bon Secours Community Works — $918K for program support. The organization also provided grants to individuals (1,157 recipients) totaling $212K, including patient assistance, scholarships, hospice assistance, patient therapy assistance.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| Bon Secours Mercy Health Inc521301088 | — | $24.6M | Program support |
| St Francis Hospital Inc582504530 | — | $2.1M | Program support |
| Bon Secours Community Works521732800 | — | $918K | Program support |
| CENTRAL CATHOLIC HIGH SCHOOL344428211 | — | $515K | Program support |
| Compassus BSMH Holdings LLC991475367 | — | $307K | Program support |
| Community Mercy Heath Partners310785684 | — | $291K | Program support |
| DIOCESE OF TOLEDO MANAGEMENT CORP823218272 | — | $250K | Program support |
| HILLSDALE COLLEGE381374230 | — | $215K | Program support |
| MERIDIAN HEALTHCARE341138485 | — | $208K | Program support |
| GLASS CITY COMMUNITY SOLAR824368700 | — | $183K | Program support |
| YOUNGSTOWN NEIGHBORHOOD DEV CORP264117989 | — | $150K | Program support |
| HOSPTIAL SISTERS MISSION OUTREACH CORP352271729 | — | $100K | Program support |
| METROPARKS TOLEDO FOUNDATION237425773 | — | $100K | Program support |
| Roper St Francis Healthcare570831165 | — | $80K | Program support |
| GOOD SAMARITAN HOSPITAL FOUNDATION FOR BETTER HEALTH133400353 | — | $80K | Program support |
| PROMEDICA FOUNDATION341517672 | — | $78K | Program support |
| Unity Properties Inc521857768 | — | $70K | Program support |
| American National Red Cross530196605 | — | $50K | Program support |
| WATER WITH BLESSINGS371639872 | — | $50K | Program support |
| CHESTERFIELD COUNTY PUBLIC SCHOOLS546001210 | — | $46K | Program support |
Showing 20 of 54 grants.
Grants to Individuals
| Type | Recipients | Amount |
|---|---|---|
| Patient Assistance | 872 | $93K |
| Scholarships | 29 | $64K |
| Hospice Assistance | 246 | $32K |
| Patient Therapy Assistance | 10 | $24K |
Fundraising & Events(Tax Year 2024)
Bon Secours Mercy Health Foundation held fundraising events including Bsmh invitational ($534K) and Childrens hope gala ($309K).
Named Events
bsmh invitational
Gross: $533,839
childrens hope gala
Gross: $309,389
Foreign Activities(Tax Year 2024)
Activities span Middle East and North Africa, Central America and the Caribbean, Sub-Saharan Africa, South America.
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| Middle East and North Africa | — | — |
| Central America and the Caribbean | — | — |
| Central America and the Caribbean | — | — |
| Central America and the Caribbean | — | — |
| Sub-Saharan Africa | — | — |
| Sub-Saharan Africa | — | — |
| South America | — | — |
| South America | — | — |
Supplemental Financial Data(Tax Year 2024)
Bon Secours Mercy Health Foundation operates a donor-advised fund (DAF) program with 1 accounts. The endowment stands at $92.5M, with $3.0M in new contributions.
Filing History(Tax Years 2014–2024)
6 records
Showing the 6 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2024 | 990 | 2024-01-01 – 2024-12-31 | $87.0M | $52.0M | $429.7M |
| 2023 | 990 | 2023-01-01 – 2023-12-31 | $49.9M | $54.1M | $354.2M |
| 2022 | 990 | 2022-01-01 – 2022-12-31 | $63.1M | $58.6M | $342.2M |
| 2021 | 990 | 2021-01-01 – 2021-12-31 | $66.9M | $73.1M | $393.2M |
| 2020 | 990 | 2020-01-01 – 2020-12-31 | $57.6M | $94.9M | $346.3M |
| 2019 | 990 | 2019-01-01 – 2019-12-31 | $43.4M | $33.7M | $283.6M |
| 2014–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Bon Secours Mercy Health Foundation do?
TO SUPPORT THE OPERATIONS OF BON SECOURS MERCY HEALTH BY ENCOURAGING CHARITABLE GIVING AND EFFECTIVELY MANAGING GIFT RESOURCES.
How much revenue does Bon Secours Mercy Health Foundation have?
Bon Secours Mercy Health Foundation reported $87,017,211 in total revenue for tax year 2024, up 74.3% from the prior year.
Who is the highest-paid executive at Bon Secours Mercy Health Foundation?
MICHAEL BEZNEY JD, Board Member, Chief Legal Officer & General Counsel, received $2,517,954 in total compensation as of tax year 2024.
Is Bon Secours Mercy Health Foundation a 501(c)(3)?
Yes, Bon Secours Mercy Health Foundation is classified as a 501(c)(3) tax-exempt organization.
Where is Bon Secours Mercy Health Foundation located?
Bon Secours Mercy Health Foundation is headquartered in Cincinnati, OH 45237.
How many employees does Bon Secours Mercy Health Foundation have?
Bon Secours Mercy Health Foundation has 94 employees and 300 volunteers as of tax year 2024.
What type of nonprofit is Bon Secours Mercy Health Foundation?
Bon Secours Mercy Health Foundation is classified under NTEE code X12 (Fund Raising & Fund Distribution), within the Religion category. It is a 501(c)(3) tax-exempt organization.
Is Bon Secours Mercy Health Foundation audited?
Yes, Bon Secours Mercy Health Foundation's financial statements are audited, and the organization has an audit committee.
How much does Bon Secours Mercy Health Foundation spend on fundraising?
Bon Secours Mercy Health Foundation reported $9,406,551 in fundraising expenses for tax year 2024, which represents 18.1% of total expenses.
Does Bon Secours Mercy Health Foundation give grants?
Yes, Bon Secours Mercy Health Foundation distributed $33,713,099 in grants to other organizations and individuals in tax year 2024. Top recipients include Bon Secours Mercy Health Inc, St Francis Hospital Inc, Bon Secours Community Works.
Does Bon Secours Mercy Health Foundation operate internationally?
Yes, Bon Secours Mercy Health Foundation conducts activities outside the United States. Activities span Middle East and North Africa, Central America and the Caribbean, Sub-Saharan Africa, South America.
Does Bon Secours Mercy Health Foundation hold fundraising events?
Bon Secours Mercy Health Foundation reports fundraising event activities.
Data Source
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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