AdventHealth is a not-for-profit healthcare system, meaning it does not have traditional private owners or shareholders. Instead, its assets are held in trust to further its mission of extending the healing ministry of Christ.
Understanding AdventHealth's Structure
AdventHealth, which is headquartered in Altamonte Springs, Florida, is a significant healthcare organization providing services across central and southern states, including Colorado. While it shares a common heritage and affiliation with the Seventh-day Adventist Church, it is separately owned and operated. This distinction means it is not directly owned by the Seventh-day Adventist Church or any other specific affiliated entity like Adventist Health.
The Nature of Not-for-Profit Ownership
As a not-for-profit entity, AdventHealth's ownership differs significantly from that of a for-profit corporation. Key characteristics of its ownership structure include:
- No Private Shareholders: Unlike publicly traded or privately owned companies, AdventHealth does not have individual shareholders or private investors who hold equity or receive profits.
- Mission-Driven: The organization's primary purpose is to serve the public good and fulfill its mission, rather than to generate profits for owners. Any financial surpluses are reinvested directly back into the organization to enhance patient care, improve facilities, fund research, and expand community health services.
- Governance by a Board of Directors: Oversight and strategic direction are provided by a governing board of trustees or directors. These individuals are typically responsible for ensuring the organization adheres to its mission, maintains financial solvency, and operates in the best interest of the community it serves.
- Assets Held in Trust: All assets, including hospitals, clinics, and financial reserves, are held in trust for the benefit of the community and the furtherance of the organization's mission.
This structure ensures that AdventHealth remains focused on its commitment to providing comprehensive, compassionate healthcare services, aligned with its foundational principles.
