Akron General Medical Center Self-insurance Trust Fund

Nonprofit profile at a glance

EIN
341243687
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Akron, OH, USA
Phone
3303446603
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Insurance Providers

Official website

Reported finances

Revenue
$270,503
Expenses
$45,070
Assets
$10,100,131
Liabilities
$15,036,418

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • ALAN PAPA (PRESIDENT, COO, DIRECTOR)

Highest reported compensation

  • THOMAS STOVER MD (DIRECTOR): $920,514 total reported compensation
  • ALAN PAPA (PRESIDENT, COO, DIRECTOR): $492,425 total reported compensation
  • CRAIG M BABBITT (SECRETARY): $423,162 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Akron general medical center self insurance trust's mission is to improve the health and lives of the people and communities we serve.

What it reported doing in 2015

Akron general medical center self insurance trust exists for the purpose of serving as a funding mechanism for professional malpractice and general liability claims made against akron general medical center. The insurance claim reimbursement shown was in furtherance of that purpose.

Operating model

Revenue model
Investment-supported. 100% 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.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. 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: 37
  • Transparency & Controls: 59
  • Accountability: 74
  • Sustainability: 76
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.1%; rating input score 16
  • Program expense ratio: 82.5%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 19th 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: 63.6%; rating input score 64; 16th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 83.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 224.1; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 1.49; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 410.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 67.2% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: -33.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -9.8% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 16.1% of revenue deployed · 82.5% of spending went to programs
  • Governance: 7 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $37K in reported program spending
  • Leadership: top reported pay $921K · 17 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Related organizations: 10 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 16/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.