Cheshire Medical Center

What it reported doing in 2024

Cheshire medical center (cheshire) is a community hospital located in keene, New Hampshire. Cheshire is a not-for-profit organization, as described in section 501(c)(3) of the internal revenue code (the code) and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. The hospital is a member of the dartmouth health system ("dh"), a not-for-profit tax-exempt corporation with a principal place of business at one medical center drive, lebanon, New Hampshire. Consistent with the dh vision and strategy to create a sustainable health system, cheshire and dh share a common commitment to improving population health, value-based care, and creating new payment models for the benefit of the citizens of New Hampshire and Vermont. Cheshire provides a broad range of patient services and health-related community services, consistent with its role as a community hospital. These include a full range of services in both acute and critical medicine, surgery, and rehabilitation. During fy25, cheshire provided 228,060 provider visits and had 3,769 hospital admissions and discharges. The emergency department was open to the public 24 hours per day, 7 days per week and had 21,996 er patient visits. There are a total of 259 providers consisting of 149 physicians and 110 associate providers. Each year, cheshire medical center files an annual community benefit report with the state of New Hampshire which outlines the community and charitable benefits cheshire provides. The most recent community benefit reports are available upon request or can be found on cheshire's website (https://www.cheshiremed.org/about/community-benefits-reporting). During fy2025, cheshire's community benefit priorities centered around improving healthcare access in rural communities, behavioral health supports, substance use disorder prevention and supports, and aging population services. In total, cheshire provided more than $17 million in community benefits including unreimbursed charity care, health services, health profession education, subsidized health services, and community-building activities. These contributions are in addition to the over $49 million dollars in unreimbursed medicare costs absorbed by cheshire.

Financial Efficiency

• Mission deployment rate: 92.1%; rating input score 92
• Program expense ratio: 94.3%; rating input score 94
• Fundraising efficiency: $25.88 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 17th 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: 96.2%; rating input score 96; 29th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 46.7%; rating input score 47; 12th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 2.3%; rating input score 44; 44th percentile among comparable filings
• Total-asset coverage ratio: 0.46; rating input score 16; 16th percentile among comparable filings
• Liabilities to assets ratio: 0.42; rating input score 42; 42nd percentile among comparable filings
• Officer compensation ratio: 0.8%; rating input score 78; 78th percentile among comparable filings

Growth

• Program expense growth: 7.5% per year; rating input score 100; 61st percentile among comparable filings
• Revenue growth: 5.6% per year; rating input score 100; 48th percentile among comparable filings
• Asset growth: 1.7% per year; rating input score 100; 13th percentile among comparable filings