Financial Strength

Campaign Update

In a challenging year for healthcare organizations, Lurie Children’s supporters continued to invest in the hospital’s mission. Philanthropic support for Lurie Children’s campaign for every child was strong, surpassing its FY21 goals by raising $60.5 million in revenue and over $70 million in cash. This brought the campaign to more than $420 million toward the $500 million goal.

Special Anniversaries

Two exceptional champions for Lurie Children’s celebrated milestone anniversaries of their partnership with the institution. Their dedication and sustained support have affected the lives of generations of children served by the hospital.

The Children’s Research Fund marked 70 years of raising funds for medical research in Chicago, and 30 years of raising funds for research conducted at Stanley Manne Children’s Research Institute. Our longest-standing philanthropic partner exclusively supporting research, they have raised more than $80 million to support research innovation that advances child health.

K.I.D.S.S. for Kids, which stands for Kindness is Doing Something Special for Kids, has raised more than $30 million over thirty years to support Family Services at Lurie Children’s. Their impact is tangible. Years ago, Family Services provided just three services. Today it encompasses 14 programs and 185 staff members who support all areas of the hospital.

*From 39,716 donors

Sources of Support
($ in millions)



Private Foundations and Estates32.2%

Overview of support

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 10 affiliated organizations, including the Children's Research Fund, the Children's Service Board and K.I.D.S.S. for Kids; our many Family & Friends organizations; 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.

Financial Summary FY21

Unlike many healthcare organizations during this pandemic, Children’s Hospital of Chicago Medical Center is on solid footing. The wide swings in patient volumes have created challenges to managing the operating budget but we can share an improving financial picture.

The financial response plan of FY20 enabled us to start FY21 in much better shape than most hospitals, despite the initial lower volumes. Outpatient volumes, inpatient surges at the end of the summer, and successful advocacy for government relief funds reversed the initial losses, bringing our net operating income to just over $4 million. While not the margin we aim for long-term sustainability, we do and will continue to care for every child that needs us. We supported children and families in our communities with $231 million in unreimbursed and under reimbursed care and community benefit programs, including preventive care and population health initiatives.

Overall, our volume recovery, strong endowment performance and affirmation of our AA bond ratings put us in a strong position for FY22.

Download COVID-19 relief financial summary (PDF)

Consolidated Financial Summary

For the periods ending August 31, ($ in millions)

Statement of Operations

    2021   2020
Patient Care Revenue, Net $ 1,141.1 $ 1,090.3
Grants, Gifts, and Endowment Income   134.4   121.3
Other Revenue   91.4   117.9
Total Operating Revenue $ 1,366.9 $ 1,329.5
Salaries and Benefits $ 801.5 $ 796.0
Supplies, Services, Other   452.6   427.0
Depreciation   91.7   88.2
Total Operating Expenses $ 1,345.8 $ 1,311.2
Income From Operations Before Interest and Amortization $ 21.1 $ 18.3
Interest and Amortization of Financing Costs   16.6   16.6
Income From Operations $ 4.5 $ 1.7
Other Income (Expense) Net $ 246.3 $ 69.0
Excess of Revenue Over Expenses $ 250.8 $ 70.7

Balance Sheet Assets

    2021   2020
Current Assets $ 387.5 $ 356.6
Investments   1,820.9   1,491.5
Property and Other   1,219.6   1,161.9
Total Assets $ 3,428.0 $ 3,010.5

Liabilities and Net Assets

    2021   2020
Current Liabilities $ 275.0 $ 241.7
Long-Term Debt and Other   633.2   538.9
Net Assets $ 2,519.8 $ 2,229.4
Total Liabilities and Net Assets $ 3,428.0 $ 3,010.5

Download Financial Summary (PDF)