Financial Highlights from fiscal year 2024
Funds Raised
With your support, $46.9 million was raised in 2024 to advance the lifesaving work of HonorHealth.
Thank you for your contribution to finding cures, saving lives and transforming healthcare!
Supporters
Donations & Investments
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: $96,847,737
- Restricted gifts are held in an investment account to be released to the HonorHealth department or program as designated by the donor.
Non-endowed balance: $51,448,261
- 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: $194,484,170
2024 total investments: $342,780,168
2024 rate of return: 10.18%
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.
Financial Highlights
*HonorHealth system funds all staff and operating expenses, so 100% of every donation is directed to the donor's stated purpose. No donor funds were used to produce this report.
The Foundation audit for 2024 was consolidated with the HonorHealth audit and was completed with no management letter comments.
Distributions
Programs supported through philanthropy
Here are just a few examples of the difference you made as the Foundation released donations to HonorHealth in 2024:
| Desert Mission Adult Day Health Care virtual reality system | - | $10,000 |
| Bladder Scanner workstation at Deer Valley | - | $12,000 |
| Resident surgery program | - | $25,000 |
| Updated monitors for NICU patients | - | $26,000 |
| Bone density scanner | - | $30,000 |
| Annual Nursing Seminar | - | $35,000 |
| Blue Zones programming | - | $41,766 |
| Labor & Delivery childbirth and ultrasound simulators for realistic advanced clinical training | - | $52,000 |
| Employee Crisis Assistance | - | $54,000 |
| Research Institute Rare Cancer Initiative | - | $55,805 |
| Neuroscience social worker | - | $65,000 |
| K-9 Security team supplies and veterinary care | - | $67,000 |
| Gas marbles - testing drug delivery through the blood via stable “bubbles” | - | $120,000 |
| Military Partnership training kits | - | $189,000 |
| 5 Transesophageal Endocardiography ultrasound probes | - | $191,078 |
| Patient assistance | - | $284,000 |
| Surgical robot navigation technology at Scottsdale Osborn | - | $400,000 |
| Heart Center construction | - | $1,325,776 |
HonorHealth Foundation 2023 IRS Form 990 (PDF file. Note: the most recent IRS Form 990 is published as it is available)
The Foundation audit for 2024 was consolidated with the HonorHealth audit and was completed with no management letter comments.
