Floyd-Polk Healthcare Foundation Inc

What it says it does

THE FLOYD-POLK HEALTHCARE FOUNDATION, INC. (THE "FOUNDATION"), IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF AND TO CARRY OUT THE PURPOSES OF FLOYD HEALTHCARE MANAGEMENT, INC., POLK MEDICAL CENTER, INC., THE HOSPITAL AUTHORITY OF FLOYD COUNTY AND THE CEDARTOWN-POLK COUNTY HOSPITAL AUTHORITY. THE FOUNDATION WILL PROMOTE THE HEALTH OF THE COMMUNITIES SERVED BY EACH OF THE SUPPORTED ORGANIZATIONS, PROVIDE RELIEF TO THE POOR, DISTRESSED AND UNDERPRIVILEGED AND LESSEN THE BURDENS OF GOVERNMENT BY ENGAGING IN ACTIVITIES SUCH AS THE FOLLOWING: 1) PROVIDING FUNDING TO THE SUPPORTED ORGANIZATIONS TO ESTABLISH OR EXPAND PROGRAMS THAT ADDRESS HEALTH DISPARITIES; 2) MAKING CONTRIBUTIONS TO THE SUPPORTED ORGANIZATIONS TO FACILITATE THE DELIVERY OF HEALTHCARE SERVICES TO THE UNDERINSURED OR UNINSURED; AND 3) SAFEGUARDING ASSETS TO ENSURE THE CONTINUED OPERATION OF FLOYD MEDICAL CENTER AND POLK MEDICAL CENTER.

Income

$17.3 million

Spending

$3.1 million

Spent on programs

82%

Reserves

Over 10 years of spending

Largest source of income

investment income, 68%

Employees

0

Highest pay

$2.1 million, secretary

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 93% of charities in its peer group (health care, $10m to $100m).

• Reserves

  35 of 35

  Spendable reserves would cover more than ten years of spending.

• Debt

  20 of 20

  It owes 0% of what it owns.

• Living within its means

  15 of 15

  Income exceeded spending by 82% of income.

• Income trend

  15 of 15

  Income rose 35% on the year before.

• Spending floor

  15 of 15

  82% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 80 out of 100. Higher than 14% of charities in its peer group (health care, $10m to $100m).

• Independent board

  25 of 25

  11 of 17 voting board members are independent.

• Conflict of interest policy

  15 of 15

  Has a written conflict of interest policy.

• Whistleblower policy

  0 of 8

  Reports no written whistleblower policy.

• Record keeping policy

  0 of 7

  Reports no written policy on keeping and destroying records.

• Board minutes

  5 of 5

  Keeps minutes of board meetings.

• Board sees the tax return

  10 of 10

  Gave the board a copy of this return before filing it.

• Pay set independently

  0 of 5

  Reports no independent review process for its chief executive's pay.

• Independent check of accounts

  15 of 15

  Its accounts were audited by an independent accountant.

• No reported misuse

  10 of 10

  Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

1. check_circle

   Is it registered with the IRS? Passed.

   Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

   Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

2. check_circle

   Has the IRS revoked its tax-exempt status? Passed.

   Not on the IRS automatic revocation list.

   Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

3. check_circle

   Are donations tax-deductible? Passed.

   On the IRS list of organizations eligible to receive tax-deductible contributions.

   Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

4. check_circle

   Is it keeping up with its IRS filings? Passed.

   Most recent return on file covers the year ending December 2024.

   Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

5. check_circle

   How long has it been tax-exempt? Passed.

   Recognized by the IRS since March 2022.

   Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

6. check_circle

   Is it in good standing with state regulators? Passed.

   Not on California's list of charities barred from soliciting. Other states are not yet checked.

   Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

7. info

   Could it be confused with another charity? Worth knowing.

   A much larger organization has a similar name: Prime Healthcare Foundation Inc (Ontario, CA), EIN 20-8065139. If that is the one you meant, check the EIN before giving.

   Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.