Illinois Hospital Research & Educational Foundation

Overview

Mission

To promote the continuing education of hospital and other healthcare personnel and to provide grants to hospitals which will assist in the improvement of healthcare.

What it reported doing in 2024

Ihref received program revenue from carelearning based on Illinois hospital participation in various programs.

Operating model

Revenue model
Investment-supported. 93% 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
237421930
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Headquarters
Naperville, IL, USA
Phone
6302765400
Rating
29
Verdict
REVIEW
Rating confidence
Moderate
Sector
Hospital, General

Official website

The verdict

REVIEW - Revenue comfortably covers expenses. 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: 5
  • Transparency & Controls: 55
  • Accountability: 32
  • Sustainability: 77
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.2%; rating input score 0
  • Program expense ratio: 15.8%; rating input score 16
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th 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: No; rating input score 0

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 81.2%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 106.6; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 5,276.9%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -24.1% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -23.8% per year; rating input score 0; 17th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 0.2% of revenue deployed · 15.8% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1K in reported program spending
  • Leadership: top reported pay $1.6M · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 annual filings from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 9 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

5 people listed

Highest reported compensation

  • ARTHUR J WILHELMI (CHAIRMAN/PRESIDENT): $1,617,058 total reported compensation
  • KAREN HARRIS (SECRETARY/DIRECTOR): $498,705 total reported compensation
  • TERRI L ALLEN (TREASURER/DIRECTOR): $451,753 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.