St George Corporation

St George Corporation operates as a high-asset private foundation ($808 million in assets) with a highly focused, board-directed grantmaking strategy rooted in the legacy of Palos Health System. Originally established as a supporting organization of Palos Community Hospital, the foundation's mission evolved when Palos Health joined Northwestern Medicine in January 2021. Since then, St George Corporation has directed substantial grants toward healthcare infrastructure and human services in Chicago's south suburbs. The foundation is led by President and CEO Terrence Moisan, MD, and Chairman Edward Mulcahy, with a board that includes healthcare professionals. Unlike many private foundations, St George Corporation does not accept unsolicited applications — grants are board-directed to organizations aligned with the foundation's healthcare mission. In FY2024, the foundation distributed $33.8 million across 5 awards, while FY2023 saw an extraordinary $56.7 million in grants (driven by the landmark $51 million gift to Northwestern Medicine). The foundation's revenue is primarily investment-driven, with 55.5% from interest and 44.5% from asset sales in FY2024.

St George Corporation's grantmaking shows a distinctive pattern of concentrated, high-impact grants rather than broad distribution. The foundation typically makes only 3-5 grants per year, but individual awards can range from approximately $60,000 to over $51 million. The landmark $51 million gift to Northwestern Medicine for the St. George Cancer Institute in Orland Park represents the foundation's willingness to make transformative, single-institution investments. Beyond healthcare infrastructure, the foundation also supports human services organizations, with grants to Misericordia Foundation ($3 million for disability services) and Trinity Services ($1 million). The foundation's giving has accelerated significantly since 2021, coinciding with the Palos Health-Northwestern Medicine merger. FY2024 total charitable disbursements reached $34.7 million (95.7% of total expenses), while FY2023 saw $57.3 million in total expenses. The foundation maintains $71.7 million in liabilities against $808 million in assets, suggesting substantial additional grantmaking capacity. Revenue of $44 million in FY2024 from investments provides a stable funding base.

Among Illinois-based private foundations with assets over $500 million, St George Corporation is unusual for its healthcare-system origin and concentrated grantmaking approach.

St George Corporation's payout rate of approximately 4.2% of assets is in line with private foundation norms. What distinguishes it from peers is its extraordinarily concentrated grantmaking — just 5 grants totaling $33.8 million in FY2024 versus Polk Bros. Foundation's hundreds of grants at similar giving levels. The foundation's healthcare-system roots also make it unique among major Illinois foundations.

The most significant recent activity was the transformative $51 million gift to Northwestern Medicine in 2023-2024 for the development of the Northwestern Medicine St. George Cancer Institute in Orland Park. This was described as the largest one-time gift in Northwestern Medicine's history. The cancer institute features surgical, breast, gynecologic, thoracic, and radiation oncology services, a full-service infusion suite with dedicated pharmacy and laboratory, on-site chemotherapy, immunotherapy, and targeted therapy, genetic counseling, social work, and nutritional support, and access to clinical trials. A long-term expansion plan for additional patient and clinical spaces is underway. In FY2023, the foundation also awarded $3 million to Misericordia Foundation (serving people with intellectual and developmental disabilities) and $1 million to Trinity Services. In FY2024, the foundation distributed $33.8 million across 5 awards and reported total assets of $808 million, revenue of $44 million, and officer compensation of $725,308. The foundation also established the St. George Foundation Distinguished Physician Awards, recognizing Northwestern Medicine Palos Hospital physicians.

Grant seekers should understand that St George Corporation operates very differently from most private foundations. Here are key considerations: (1) There is no public application process — the foundation does not accept unsolicited proposals. Grants are board-directed by a small team led by President Terrence Moisan, MD and Chairman Edward Mulcahy. (2) Healthcare alignment is essential — the foundation's mission centers on advancing community health in Chicago's south suburbs, specifically in communities historically served by Palos Health (now Northwestern Medicine Palos Hospital). (3) The foundation makes very few grants per year (3-5), so competition is extremely limited but grants are awarded to organizations with established relationships. (4) Human services organizations serving Chicago's south suburbs may have opportunities — the foundation has supported Misericordia Foundation and Trinity Services, showing interest beyond hospital systems. (5) Organizations connected to Northwestern Medicine's south suburban network may have the strongest positioning. (6) Contact the foundation directly at (630) 581-5085 if you believe your organization aligns with their healthcare and community health mission. (7) Focus areas beyond core healthcare include child welfare, domestic violence prevention, disability services, and workforce development.