HealthWell Foundation
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
HealthWell Foundation does not meet the following 1 Standards for Charity Accountability:
Standard 4 (Compensated Board Members)
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.
HealthWell Foundation does not meet this Standard because:
- 9 members out of the 9 member board of directors (100%), including the board chair and treasurer, are compensated directly.
HealthWell Foundation meets the remaining 19 Standards for Charity Accountability.
Stated Purpose:
"to reduce financial barriers to care for underinsured patients with chronic or life-altering diseases."
Year, State Incorporated:
2003, VA
The HealthWell Foundation provides financial assistance to underinsured adults and children living with chronic or life-altering diseases, such as cancer, asthma, and autoimmune disorders. The organization helps eligible individuals afford out-of-pocket costs for prescription drug copayments, coinsurance, deductibles, premiums, and other select costs.
For the year ended December 31, 2023, HealthWell Foundation's program expenses were:
Program services: $715,688,219
Total Program Expenses: $715,688,219
Chief Executive
Michael Heimall, President and Chief Executive Officer
Chair of the Board
David L. Knowlton
Chair's Profession / Business Affiliation
Retired, Former President and Chief Executive Officer, New Jersey Health Care Quality Institute
Board Size
9
Paid Staff Size
250
*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Note: Compensation is not yet available for Mr. Heimall, as he started at HealthWell Foundation in November 2024. The previous President and Chief Executive Officer, Krista Zodet, received $395,217 in total compensation in 2023.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Radio, Foundation grants
Fundraising costs were less than 1% of related contributions. (Related contributions, which totaled $730,901,028, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on HealthWell Foundation's audited financial statements for the year ended December 31, 2023.
Source of Funds
| Interest income | $16,272,559 |
| Realized and unrealized investment gains, net | $22,552,147 |
| Contributions | $730,901,028 |
| Service fees | $32,198 |
| Total Income | $769,757,932 |
Programs: 99% Fundraising: 0% Administrative: 0%
| Total Income | $769,757,932 |
| Total expenses: | $721,223,333 |
| Program expenses | $715,688,219 |
| Fundraising expenses | $3,008,543 |
| Administrative expenses | $2,526,571 |
| Other expenses | $0 |
| Income in Excess of Expenses | $48,534,599 |
| Beginning Net Assets | $507,742,101 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $556,276,700 |
| Total Liabilities | $81,556,071 |
| Total Assets | $637,832,771 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance