City of Hope & Affiliates

CharityWatch's rating of City of Hope & Affiliates includes the financial activities of the entities consolidated in the City of Hope audited financial statements for the fiscal year ended September 30, 2024. Included among the consolidated entities are City of Hope National Medical Center, City of Hope Medical Foundation, Beckman Research Institute of the City of Hope, The Translational Genomics Research Institute & its Affiliates, Stephenson Pancreatic Cancer Research, LLC, and COH HoldCo Inc. & its affiliated CAP Entities. All significant intercompany transactions and balances have been eliminated in the audited consolidated financial statements.

According to the City of Hope consolidated audit of September 30, 2024 (Note 15, Commitments and Contingencies, Cybersecurity Incident):

"In mid-October 2023, City of Hope became aware of suspicious activity on a subset of its information technology systems and immediately instituted mitigation measures to minimize any disruption to its operations. City of Hope launched an investigation into the nature and scope of the incident with the assistance of a leading cybersecurity firm, which determined that an unauthorized third party accessed a subset of its systems and obtained copies of some files between September 19, 2023 and October 12, 2023. City of Hope undertook a detailed review of the files to determine the incident’s scope and notified impacted data subjects as required by applicable law. To date, City of Hope has received notice of the filing of multiple class action lawsuits relating to the unauthorized copying of such files. The investigation into the attack by the U.S. Department of Health and Human Services Office for Civil Rights has now been closed without action..."

According to the City of Hope consolidated audit of September 30, 2024 (Note 15, Commitments and Contingencies, Capital Commitments (Unaudited)) [Dollar Amounts Expressed in Thousands]:

"As of September 30, 2024, City of Hope has committed to spend $207,803[thousand] through 2025 and beyond for building renovations, multiple campus facility renovations, and various information technology projects."

According to the City of Hope consolidated audit of September 30, 2024 (Note 17, Subsequent Events):

"...On December 13, 2024, COH Property Holdings OC, LLC, a wholly owned subsidiary of City of Hope, acquired an office building, land and related improvements on City of Hope’s Orange County, California campus. The acquisition included the assumption of existing leases as the lessor for portions of the building..."

According to the City of Hope 2024 tax filing for the fiscal year ended September 30, 2024, City of Hope reports re: Compensation, Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (IRS Form 990, Schedule J, Part II):

City of Hope reports providing "bonus & incentive compensation" payments to 14 individuals during 2023. Robert W. Stone, President & CEO, received $2,198,672 of bonus and incentive compensation with total reported compensation of $5,460,799. The remaining 13 individuals received between $169,730 to $1,117,453 with total reported compensation ranging from $639,380 to $2,313,135. The above figures include compensation from related organizations and exclude compensation reported as deferred on a prior Form 990 (per row (ii) and column F, respectively(. 

According to the City of Hope 2024 tax filing: "Ronald Sargent and Suzanne Vautrinot – Business Relationship" (IRS Form 990, Schedule O re: Form 990, Part VI, Section A, line 2).

Ronald Sargent is reported as the Vice Chair of City of Hope; Both are reported as a Director (IRS Form 990, Part VII, Section A). City of Hope reports having thirteen voting members on its governing body at the end of fiscal 2024, with all thirteen members being independent (IRS Form 990, Part VI, Section A, lines 1a & 1b).