Alumni Association of the Lahey Clinic Foundation Inc

Nonprofit profile at a glance

EIN
042573620
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Charlestown, MA, USA
Phone
7817448924
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$20,202
Expenses
$55,338
Assets
$1,604,980
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • COLLER MD JOHN A (DIRECTOR & VICE PRESIDENT)
  • MANDEL MD BURTON (DIRECTOR & PRESIDENT)

Highest reported compensation

  • MOURTZINOS MD MBA ARTHUR (DIRECTOR; PHYSICIAN, UROLOGY, LCI): $827,906 total reported compensation
  • WALD MD PHD MBA CHRISTOPH (DIRECTOR; CHAIR, RADIOLOGY, LCI/LCH): $743,377 total reported compensation
  • SORCINI MD ANDREA (DIRECTOR; PHYSICIAN, UROLOGY, LCI): $708,542 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

The alumni association provides support to the lahey clinic hospital to enable residents training at lch to attend and/or present at medical seminars and conferences. The association also provides local on site educational opportunities by bringing specialists to lch. Finally, the association also provides funding for charitable programs and materials for the lch library.

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 25
  • Sustainability: 40
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 25%; rating input score 25; 18th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -173.9%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 29; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 1,068.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 24.2% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: -1% per year; rating input score 0; 56th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.9% of spending went to programs
  • Governance: 4 of 16 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $55K in reported program spending
  • Leadership: top reported pay $828K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 79 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 — Accountability: Independent voting board scored 25/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 1/100.