The Westerly Hospital Foundation Inc

Overview

Mission

The foundation was organized to support lmw healthcare inc. And to promote the charitable, educational and scientific purposes of the hospital through management of philanthropic activities and support for lmw healthcare inc.

What it reported doing in 2023

The westerly hospital foundation received more than $1.3m in philanthropic gifts in fy 2024. Fundraising proceeds from various events and fundraising drives promoted by lmw healthcare, inc. Were used to enhance patient care and the patient-family experience at the hospital.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
050508064
IRS 990 coverage
2009–2023
Forms available
Form 990 2023, Form 990-T 2023
Headquarters
Westerly, RI, USA
Phone
4015966000
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 46
  • Transparency & Controls: 69
  • Accountability: 91
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.4%; rating input score 33
  • Program expense ratio: 82.4%; rating input score 82
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 79.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 30.3; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 154.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 33.4% of revenue deployed · 82.4% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $313K in reported program spending
  • Leadership: top reported pay $2.5M · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 annual filings from 2009 to 2023
  • Contacts: How to reach this organization
  • Related organizations: 32 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

25 people listed

Highest reported compensation

  • VINCENT TAMMARO (FORMER OFFICER): $2,486,567 total reported compensation
  • RICHARD LISITANO (PRESIDENT/CEO): $978,076 total reported compensation
  • PATRICK L GREEN (FORMER OFFICER (CURRENT YR COMP)): $835,885 total reported compensation

Source: IRS Form 990. Selected filing: FY2023.