Henry Heywood Memorial Hospital

Overview

Mission

To be our community's trusted choice for exceptional patient care.

What it reported doing in 2023

Heywood offers various outpatient services such as an Emergency Room, Outpatient oncology and hematology advanced imaging, special procedures, rehabilitation services and many others on an outpatient basis.Heywood offers Inpatient services including telemetry, intensive care, maternity, pediatrics, geriatric and adult inpatient care and inpatient adult mental health.Heywood has eleven specialty and one Primary Care, provider based practices. The primary care practice focuses on Pediatrics and Family Practice, and the specialty care practices focus on the areas of Cardiology, Endocrinology, Gastroenterology, Gynecology/Obstetrics, Orthopedics, Pulmonology, Urology and General Surgery.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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
042103581
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Headquarters
Gardner, MA, USA
Phone
9786306106
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospital, General

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.6%; rating input score 90
  • Program expense ratio: 85.3%; rating input score 85
  • Fundraising efficiency: $4.86 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • 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: 75%; rating input score 75; 24th 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.1%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 1.23; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 89.6% of revenue deployed · 85.3% of spending went to programs
  • Governance: 15 of 20 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $172.1M in reported program spending
  • Leadership: top reported pay $882K · 28 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.3M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 10 filed schedules · includes major donors and executive pay
  • Filing history: 15 annual filings from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 8 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Leadership & pay

28 people listed

Highest reported compensation

  • Andrew Cocchiarella (Director of Anesthesia Services): $882,099 total reported compensation
  • Joseph Wollman (ER Physician): $683,974 total reported compensation
  • Erin O'Hara (Trustee): $640,575 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.