Albany Medical Center Foundation Inc
Nonprofit profile at a glance
- EIN
- 146023119
- IRS 990 coverage
- 2010–2013
- Forms available
- Form 990 2013
- Location
- Albany, NY, USA
- Phone
- 5182625585
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Health Systems
Reported finances
- Revenue
- $16,015,418
- Expenses
- $16,429,333
- Assets
- $26,388,984
- Liabilities
- $9,249,302
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
32 people listed
Executive titles in this filing
- James J Barba (President & CEO)
Highest reported compensation
- James J Barba (President & CEO): $1,327,743 total reported compensation
- William C Hasselbarth (Exec VP & CFO): $675,937 total reported compensation
- Gary J Kochem (Exec VP & COO): $670,843 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
An academic health sciences center whose responsibilities are: to educate medical students, physicians, biomedical students and other health care professional to meet future primary and specialty health care needs of the region and nation; to foster biomedical research that leads to scientific advances and improvement of the health of the public; and to provide a broad range of patient services to the people of eastern New York and western New England.The mission is accomplished through commitment to the values of Quality, Excellence, Service, Collaboration, Integrity and Fiscal Responsibility. We will continue to develop as a nationally recognized academic health science center. In collaboration with the community, we will provide excellence in education, research, and patient care programs.Our vision for the future includes a commitment to working with other providers to make comprehensive and advanced clinical services available to the public while emphasizing quality and service. W
What it reported doing in 2013
The Foundation's primary function is to raise funds for construction, research, support and endowment purposes for exempt organizations, including Albany Medical College, Albany Medical Center Hospital, Albany Medical Center, AMC Alumni Association, and Center for Donation and Transplant, via direct mail - community based programs, telethon, radiothon, special events - golf outings, dinners, etc., plus gift-in-kind (GIK) donations.
Operating model
- Revenue model
- Donor-supported. 98% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
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: 77
- Transparency & Controls: 96
- Accountability: 91
- Sustainability: 36
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83.3%; rating input score 83
- Program expense ratio: 80.8%; rating input score 81
- Fundraising efficiency: $5.91 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 37th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 92%; rating input score 92; 27th 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: -2.6%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 1.61; rating input score 60; 60th percentile among comparable filings
- Liabilities to assets ratio: 0.35; rating input score 50; 50th percentile among comparable filings
- Officer compensation ratio: 6.1%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 17.7% per year; rating input score 100; 89th percentile among comparable filings
- Asset growth: 19.8% per year; rating input score 100; 90th percentile among comparable filings
Details
- Where the money goes: 83.3% of revenue deployed · 80.8% of spending went to programs
- Governance: 23 of 25 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $13.3M in reported program spending
- Leadership: top reported pay $1.3M · 32 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $179K reported
- Consistency: 35 of 35 current checks pass
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 4 filing years from 2010 to 2013
- Contacts: How to reach this organization
- Money network: 5 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
- High — Sustainability: Operating margin scored 19/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 28/100.
- Review — Sustainability: Liabilities to assets ratio scored 50/100.