Longwood Research Institute Inc

Overview

Mission

Longwood Research Institute, Inc. works to promote and expand human knowledge in the field of medical science, public health and the health and welfare of infants, children, adolescents and adults by directly engaging in the continuous active conduct of medical and other scientific research by means of investigations, experiments, and studies within the associated disciplines spanning the medical sciences to discover, develop, verify or clarify knowledge and understanding. It also holds, owns, maintains, improves, and operates real property for the benefit of The Children's Hospital Corporation.

Operating model

Revenue model
Earned-program. 100% 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
042781368
IRS 990 coverage
2019–2023
Forms available
Form 990 2023
Headquarters
Boston, MA, USA
Phone
6173556000
Rating
56
Verdict
MIXED
Rating confidence
Moderate

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 60
  • Accountability: 47
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31.3%; rating input score 31
  • Program expense ratio: 91.7%; rating input score 92
  • 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: 25%; rating input score 25; 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: 65.8%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 187.29; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 65.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 19.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 31.3% of revenue deployed · 91.7% of spending went to programs
  • Governance: 1 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $404K in reported program spending
  • Leadership: top reported pay $3.2M · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 annual filings from 2019 to 2023
  • Contacts: How to reach this organization
  • 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

6 people listed

Highest reported compensation

  • Kevin Churchwell MD (President & Trustee): $3,197,892 total reported compensation
  • Douglas Vanderslice (Treasurer & Trustee): $1,684,195 total reported compensation
  • Michele Garvin Esq (Clerk & Trustee (END 10/16/23)): $1,254,786 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.