Thanks to the generosity of our community of philanthropic donors, we raised $67.1 million in revenue and $78.5 million in cash in FY24, which was 22% over the annual goal. This brought our campaign for every child total to $650 million, surpassing our original goal of $500 million. The campaign will continue for one more year to increase the impact for the children and families who need our care.
Despite increased survival for many children and youth with cancer or serious blood disorders, too many children still succumb to their illness or face serious lifelong complications that require ongoing care. This year, gifts from several generous donors resulted in a major collective impact on clinical care and research in cancer and hematology. With gifts exceeding $1 million from a variety of donors, which include the MacLean family and friends in memory of Lochlan MacLean, Kevin and Greta Warren Family Foundation, Pancoe Family Foundation, the Children's Service Board, Hyundai Hope on Wheels, and an anonymous donor, Lurie Children's specialists and researchers have more resources to deepen their understanding of these diseases and pursue breakthroughs that will save and improve young lives.
*From 43,623 donors
Sources of Support
($ in millions)
Individuals56%
Corporate25%
Private Foundations and Estates19%
In addition to its generous individual, corporate and foundation donors, Lurie Children's receives support from a wide range of dedicated supporters in the community. The Founders' Board; our five other volunteer fundraising groups, including the Children's Research Fund, the Children's Service Board and K.I.D.S.S. for Kids; many organizations and families who fundraise for kids; and individuals who plan to make a gift through their estate all serve to improve the lives of children by raising funds and awareness for the hospital.
Lurie Children's continues to operate in a difficult fiscal environment. Though the year started off strong, we incurred challenges in February 2024 due to a cybersecurity incident impacting certain information technology (IT) systems. Numerous measures were put into place to ensure we were able to continue to provide the highest quality of care to our patients but they came at a financial cost.
Despite our financial adversities, we continued to provide support to the children and families in our communities with more than $260.7 million in unreimbursed care and community benefit programs, including preventive care, mobile health and population health initiatives.
Our loss from operations in FY24 was $44.8 million.
For the periods ending August 31, 2023 and 2024 ($ in millions)
2024 | 2023 | |||
---|---|---|---|---|
Patient Care Revenue, Net | $ | 1,454.3 | $ | 1,423.5 |
Grants, Gifts, and Endowment Income | 174.0 | 138.6 | ||
Other Revenue | 103.0 | 80.5 | ||
Total Operating Revenue | $ | 1,731.3 | $ | 1,642.6 |
Salaries and Benefits | $ | 1,104.5 | $ | 1,031.1 |
Supplies, Services, Other | 571.2 | 533.5 | ||
Depreciation | 83.4 | 81.2 | ||
Interest and Financing Costs | 17.0 | 16.7 | ||
Total Operating Expenses | $ | 1,776.1 | $ | 1,662.5 |
(Loss) from Operations | $ | (44.8) | $ | (19.9) |
Other Income Net | 166.3 | 100.1 | ||
Excess of Revenue Over Expenses | $ | 121.5 | $ | 80.2 |
2024 | 2023 | |||
---|---|---|---|---|
Current Assets | $ | 609.7 | $ | 557.4 |
Investments | 1,971.5 | 1,795.0 | ||
Property and Other Assets | 1,218.2 | 1,138.0 | ||
Total Assets | $ | 3,799.4 | $ | 3,490.4 |
2024 | 2023 | |||
---|---|---|---|---|
Current Liabilities | $ | 592.4 | $ | 420.0 |
Long-Term Debt and Other | 587.8 | 605.0 | ||
Net Assets | 2,619.2 | 2,465.4 | ||
Total Liabilities and Net Assets | $ | 3,799.4 | $ | 3,490.4 |
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