Cortland Memorial Foundation Inc

Overview

Mission

Cortland memorial foundation builds relationships through philanthropy, stewardship, and education that support guthrie cortland medical center and its mission.

What it reported doing in 2024

Expenses incurred in supporting the charitable purposes, programs and services of guthrie cortland medical center; a related internal revenue code section 501(c)(3) tax-exempt organization, which provides medically necessary healthcare services to all individuals in a non-discriminatory manner regardless of race, color, creed, sex, national origin or ability to pay.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
222230692
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Cortland, NY, USA
Phone
6077563757
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Hospital, General

Official website

The verdict

MIXED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 2
  • Transparency & Controls: 84
  • Accountability: 78
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: $5.21 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 63.2%; rating input score 63; 10th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 84.9%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 36.73; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 70.3%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -25.1% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 12 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $534K · 21 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 21 filed related-organization links
  • 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

21 people listed

Highest reported compensation

  • Jennifer L Yartym (Director - President - GCMC): $534,122 total reported compensation
  • Philip Heavner MD (Director): $488,412 total reported compensation
  • Kristin Algoe MD (Director): $481,770 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.