Redington Memorial Hospital Assoc

Overview

Mission

Redington memorial hospital association's sole mission is to support & benefit redington fairview general hospital, a 501(c)(3) organization.

What it reported doing in 2024

Redington memorial hospital associations's sole mission is to support and benefit redington fairview general hospital, a 501(c)(3)organization. Accordingly, the corporation donated 948,393 to the hospital's charitable purposes.

Operating model

Revenue model
Investment-supported. 98% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
010211548
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Headquarters
Skowhegan, ME, USA
Phone
2078582300
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Hospital, General

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 60
  • Accountability: 62
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95%; rating input score 95
  • Program expense ratio: 80.3%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 62.4%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 33.36; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 95% of revenue deployed · 80.3% of spending went to programs
  • Governance: 8 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $948K in reported program spending
  • Leadership: top reported pay $504K · 11 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 annual filings from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

11 people listed

Highest reported compensation

  • RICHARD WILLETT (SECRETARY, N): $503,770 total reported compensation
  • MICHAEL LAMBKE MD (DIRECTOR): $301,782 total reported compensation
  • VICTORIA STANNARD WOROSZ MD (DIRECTOR): $94,390 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.