CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.

According to the National Jewish Health consolidated audit of June 30, 2016 (Note 11, Construction in Progress):

"National Jewish is currently implementing two Laboratory Information Management Systems (LIMS) in the Advanced Diagnostics Laboratories. In addition, National Jewish's Facilities Department is adding additional security card access for Health Insurance Portability and Accountability (HIPAA) compliance. Therefore, at June 30, 2016, National Jewish had two uncompleted projects. Total projected costs are estimated at $3,030,000. As of June 30, 2016, National Jewish has expended $1,099,000 related to these projects."
According to the National Jewish Health consolidated audit of June 30, 2016 (Note 1(a), Organization):

"National Jewish's activities are supported by numerous voluntary organizations and advisory boards in cities across the United States. The auxiliary organizations, although chartered by National Jewish, maintain their own financial records and submit the net proceeds of their fundraising activities to National Jewish. Because National Jewish does not exercise financial control over its auxiliary organizations, it does not maintain accounting records concerning their activities, and the accompanying consolidated financial statements do not reflect such activities." [Therefore, the financial activities of these auxiliary organizations are not included in CharityWatch's rating of National Jewish Health.]


"Effective August 2014, National Jewish entered into a joint operating agreement with Sisters of Charity of Leavenworth (SCL) Health/St. Joseph Hospital for the joint management and operation of National Jewish's in-state patient care and St. Joseph Hospital. The new entity is overseen by a Board of Directors with representation from both entities."

"Effective December 2013, National Jewish formed a limited liability corporation in a joint venture with the Icahn School of Medicine at Mount Sinai to oversee the creation and operations of a joint respiratory institute at Mount Sinai in New York."

"Total revenue from the two joint agreements as of June 30, 2016 and 2015 was approximately $4,880,000 and $3,892,000, respectively..."
According to the National Jewish Health consolidated audit of June 30, 2016 (Note 20, Related-party Transactions):

"National Jewish from time-to-time in the normal course of business and within the guidelines of its conflict of interest policy, has entered into transactions with companies for which certain members of the companies' management also serve on the Board of National Jewish. Management believes that prices paid by National Jewish have been equal to or less than the prices that would have been paid in transactions with parties not related to National Jewish."

The National Jewish Health tax filing for the fiscal year ending June 30, 2016 reports for Business Transactions Involving Interested Persons (IRS Form 990 Schedule L, Part IV):

(1) $987,664 for "Rental and Interest payments" re: Hassan Salem with a relationship of providing banking services;
(2) $399,435 for "Banking services and LOC fees" re: Mariner Kemper with a relationship of Director of Corporation;
(3) $146,531 for "Rooms for sleep clinic patients" re: Christie Isenberg-Sage Hospitality with a relationship of family member of Director; and
(4) $143,029 for "Employee" re: Lisa Cicutto with a relationship of spouse of Dr. Greg Downey, EVP Academic Affairs.
According to the National Jewish Health consolidated audit of June 30, 2016 (Note 14(b), Professional Liability):

"Reserves for professional liability claims were $1,305,000 and $651,000 at June 30, 2016 and 2015, respectively. ...The provision for losses related to professional liability risks is presented net of expected insurance recoveries in the consolidated statements of operations and was $64,000 and $144,000 for 2016 and 2015, respectively."

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