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Health Carousel Foundation at a glance

· Private foundation

Health Carousel Foundation

Its FY2025 filing reports that it funds preselected organizations and did not take unsolicited requests; check the foundation's own site before ruling it out.

$4.3M
Granted FY2025still arriving
31
Grants FY2025still arriving
11
States reached
$300k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01FY2025 · 31 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

  • Under $10k2 grants · $12k
  • $10k–50k3 grants · $65k
  • $50k–250k19 grants · $2.4M
  • $250k+7 grants · $1.8M
$125,000
Median grant
11
States reached
$1.3M
Total assets
Largest grants
RecipientAmount
THE HEALTH COLLABORATIVE$300,000
HEALTH FUTURES FOUNDATION$266,000
DIRECT RELIEF$250,000
INDIANA UNIVERSITY$250,000
BLESS A CHILD FOUNDATION$250,000
NATIONAL ASSOCIATION OF NIGERIAN NURSES IN NORTH A$250,000
AMREF HEALTH AFRICA INC$250,000
MERCY IN ACTION VINEYARD INC$215,000
WORLD CHILD CANCER USA$213,270
OHIO UNIVERSITY FOUNDATION$200,000
U-VOL FOUNDATION INC$200,000
BRIGHTON CENTER INC$150,000
OHIO UNIVERSITY FOUNDATION$150,000
CHILDRENS HOSPITAL MEDICAL CENTER$125,000
CHILDRENS HOSPITAL MEDICAL CENTER$125,000
02The need
02

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY25–25, $54k) land where the poverty rate runs at 16%, against an area that typically sits at 11%. 100% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 11%CINCINNATI WORKS INC: $54k → 16%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

12%of every dollar goes to organizations it has funded before.
$512k · 3 repeat orgs$3.8M to everyone else

Grantees it renews have grown median revenue +16% since the first grant, against 0% for those funded once.

3 repeat relationships: 3 still active in FY2025, 0 since wound down; 23 grantees were first funded in FY2025 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

3
1

Total granted

$512k
$2k

Median revenue growth · since first grant

+16%
0%

Still filing today

100%
100%

New vs renewed · share of each year

In FY2025, 11% of grant dollars renewed an existing relationship; $3.8M went to new ones.

50%100%’23’25
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’23’25
HealthEducationInternationalPhilanthropyCommunity ImprovementHuman ServicesOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • NA
    NATIONAL ASSOCIATION OF NIGERIAN NURSES IN NORTH AMERICA NANNNA INCORPORATED
    2× · 2023–2025 · $377k · revenue +16%
  • NL
    National League for Nursing
    2× · 2023–2025 · $116k · revenue +11%
  • DF
    DAISY FOUNDATION
    2× · 2023–2025 · $18k · revenue +44%

Funded once

  • PN
    PHILIPPINE NURSES ASSOCIATION OF AMERICA FOUNDATIO
    one grant, 2023 · $2k · revenue 0%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Uchicago Medicine Network Inc

Uchicago medicine network, inc. supports and encourages health and human service by providing support, directly or indirectly to ingalls memorial hospital, the university of chicago medical center, and other related tax-exempt…

Health
2
Uc Health Foundation

Uc health foundation is the fundraising entity of the uc healthcare system. our mission is to support groundbreaking work that takes place across the academic health center to provide the best in prevention, treatment, education and…

Health
3
National Nurse-Led Care Consortium

The national nurse-led care consortium (nncc) strives to advance nurse-led healthcare through policy, consultation, and programs to reduce health disparities and meet people's primary care and wellness needs.

Health
4
American Association of Colleges of Nursing

As the collective voice for academic nursing, aacn serves as the catalyst for excellence and innovation in nursing education, research, and practice.

Education
5
American Nurses Credentialing Center

To promote excellence in nursing and health care globally through credentialing programs.

—
6
National Committee for Quality Assurance

Our mission: to improve the quality of health care.our vision: better health care. better choices. better health.

Health
7
University Family Physicians Inc

Engage actively and continuously in medical research, education and training in the practice of medicine in conjunction with the department of family medicine of the indiana university school of medicine and indiana university…

—
8
University Health Inc

Primary functions are the coordination and delivery of health care resources and services, health care education for the hospital service area, long range analysis of health care needs and development of programs, and arranging for…

—
9
American Association of Critical Care Nurses

Patients and their families rely on nurses at the most vulnerable times of their lives. Acute and critical care nurses rely on AACN for expert knowledge and the influence to fulfill their promise to patients and their families. AACN drives…

Health
10
Mercy Health

Mercy Health will provide assistance, support and direction to all of the health care institutions and activities operated and maintained by its Subsidiaries. The mission of Mercy Health in performing these activities shall be to provide a…

—
11
Indiana University Health Care Associates Inc

To deliver preeminent medical care and service to our patients and communities through outstanding and innovative medical leadership and practice, while participating in and supporting excellence in education and research. We achieve this…

Health
12
University of Cincinnati Physicians Inc

Ucp organizes, manages, and delivers the clinical activities and professional medical services of the faculty of the university of cincinnati college of medicine.

—
How this is measured
The grantee most central to the portfolio’s shape is National League for Nursing; the most unlike its peers is Daisy Foundation. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
03the grantee network

22 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 22 of the 27 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

2
Load-bearing (≥25% of a budget)
5
Early backer (in before they grew)
22/22
Grantees still filing
9/22
Grew since first funded

Where the money sits, by cause and then by grantee

HEALTH FUTURES FOUNDATION: $266,000 · OtherHEALTH FUTURES FOUNDATIONIndiana University School of Medicine: $250,000 · OtherIndiana University School o…Brighton Center Inc: $150,000 · OtherBrighton Center IncNational League for Nursing: $116,400 · OtherNational League for NursingONEWORLD MEDICAL EDUCATION LTD: $115,000 · OtherONEWORLD MEDICAL EDUCATION …THE HAYDEN & CRUE PROJECT: $100,000 · OtherTHE HAYDEN & CRUE PROJECT+2 more: $34,436 · OtherDIRECT RELIEF: $250,000 · InternationalDIRECT RELIEFAMREF HEALTH AFRICA INC INC (AMREF): $250,000 · InternationalAMREF HEALTH AFRICA INC…MERCY IN ACTION VINEYARD INC: $215,000 · InternationalMERCY IN ACTION VINEYAR…U-VOL FOUNDATION INC: $200,000 · InternationalU-VOL FOUNDATION INCTHE HEALTH COLLABORATIVE: $300,000 · HealthTHE HEALTH COLLABORATIV…CHILDREN'S HOSPITAL MEDICAL CENTER: $250,000 · HealthCHILDREN'S HOSPITAL MED…WORLD CHILD CANCER USA: $213,270 · HealthWORLD CHILD CANCER USAAPPALACHIAN CHILDREN COALITION: $100,000 · HealthAPPALACHIAN CHILDREN CO…+3 more: $44,889 · HealthThe Ohio University Foundation: $400,000 · EducationThe Ohio University F…BLESS A CHILD FOUNDATION: $250,000 · EducationBLESS A CHILD FOUNDAT…ROAD2HIRE: $100,000 · EducationROAD2HIRECASE WESTERN RESERVE UNIVERSITY: $60,000 · EducationCASE WESTERN RESERVE …NATIONAL ASSOCIATION OF NIGERIAN NURSES IN NORTH AMERICA NANNNA INCORPORATED: $377,000 · PhilanthropyNATIONAL ASS…THE UNIVERSITY OF CINCINNATI FOUNDATION: $100,000 · PhilanthropyTHE UNIVERSI…CINCINNATI USA REGIONAL CHAMBER FOUNDATION: $125,000 · Community ImprovementCINCINNATI WORKS: $54,044 · Human Services
Other$1,031,836International$915,000Health$908,159Education$810,000Philanthropy$477,000Community Improvement$125,000Human Services$54,044

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetThe Ohio University Foundation: $400,000 over 1y, 0.4% of budgetNATIONAL ASSOCIATION OF NIGERIAN NURSES IN NORTH AMERICA NANNNA INCORPORATED: $377,000 over 2y, 5.0% of budgetDIRECT RELIEF: $250,000 over 1y, 0.0% of budgetCHILDREN'S HOSPITAL MEDICAL CENTER: $250,000 over 1y, 0.0% of budgetAMREF HEALTH AFRICA INC INC (AMREF): $250,000 over 1y, 2.3% of budgetWORLD CHILD CANCER USA: $213,270 over 1y, 28% of budgetU-VOL FOUNDATION INC: $200,000 over 1y, 82% of budgetBrighton Center Inc: $150,000 over 1y, 1.1% of budgetNational League for Nursing: $116,400 over 2y, 0.1% of budgetTHE UNIVERSITY OF CINCINNATI FOUNDATION: $100,000 over 1y, 0.1% of budgetCASE WESTERN RESERVE UNIVERSITY: $60,000 over 1y, 0.0% of budgetDAISY FOUNDATION: $18,389 over 2y, 0.4% of budgetPHILIPPINE NURSES ASSOCIATION OF AMERICA FOUNDATIO: $1,500 over 1y, 0.5% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

How much its grantees rely on government

Each dot is one organization Health Carousel Foundation funds: left to right is the share of its income from government, bottom to top the share from Health Carousel Foundation. Bigger dots raise more.

2023
’20’21’22’23’24’25
no gov · 10%1%3%6%10%funder's share of their income ↑0%1%3%4%5%share of the org’s income from government →
    no gov moneyreceives it· size = income
    1get no government money at all
    0rely on government for over half their income
    ⤢ axis zoomed · 0–5%
    typical government reliance, FY20–25
    How this is measured
    Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

    On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 27 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

    How this is measured
    Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

    Generated from the IRS Form 990-PF e-file return for fiscal year 2025, released 2025. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

    Source object · view filing

    Play a game based on Health Carousel’s filings →

    More from the funding graph

    The unnamed billions
    grants reported with no recipient in the public record
    The regranting layer
    51% of grant dollars land in the regranting layer
    The DAF merry-go-round
    $9.7B circulates between donor-advised funds
    The endowment market
    who holds foundation money, and what just moved
    The camps
    funders cluster by geography, not ideology
    By state
    where grant money is based, and what stays home