Nonprofit Hospitals Invest for Returns, Not Mission

In 2019, 93% of more than $283 billion in investments by nonprofit hospital organizations was made in publicly traded securities or other financial vehicles, such as hedge funds or private equity. The nonprofits categorized 7% of their investments as devoted to their core mission rather than producing extra revenue.

Note: The analysis includes 1,632 nonprofit organizations that reported ownership of one or more hospitals to the IRS. In total, these organizations owned or operated 2,568 hospitals. The analysis did not include investments that some systems kept in a separate nonprofit or foundation.

Chart by Hannah Norman/KHN
SOURCE: KHN analysis of nonprofit hospital filings to the IRS Embed