Athol Memorial Hospital NMTC Holdings

Nonprofit profile at a glance

EIN
822171549
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Gardner, MA, USA
Phone
9786306106
Rating
35
Verdict
REVIEW
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$154,053
Expenses
$0
Assets
$16,645,411
Liabilities
$16,660,000

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

Leadership & pay

24 people listed

Executive titles in this filing

  • Rozanna Penney (President/CEO)
  • Thomas Sullivan (Past President/CEO)

Highest reported compensation

  • Phani Molakatalla MD (Trustee/Gastroenterology Physician): $707,032 total reported compensation
  • Rozanna Penney (President/CEO): $653,352 total reported compensation
  • Craig Napolitano MD (Trustee): $640,922 total reported compensation

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

Overview

Mission

To support the operations and purposes of Athol Memorial Hospital, including leasing land, constructing a new medical office building and emergency room, purchasing equipment and leasing office space to medical offices.

What it reported doing in 2024

The specific purpose of the corporation is limited to the support of the operations and purposes of Athol Memorial Hospital, a MA non-profit tax-exempt hospital. Such support shall include (I) leasing land from AMH, (II) designing, permitting, and constructing a new medical office building on the land, comprised of an emergency department, physician practice space and lobby. Additional commercial office space, parking areas adjacent to the MOB, and utilities and other infrastructure. (III) Renovating the AMH Imaging Department, (IV) acquiring certain medical equipment, (V) leasing the ED, physician practice space, the parking areas and equipment to AMH, (VI) leasing the additional office space and parking areas to a non-profit, tax-exempt corporation, and (VII) all other purposes permitted by law that further the corporation's support of AMH.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - 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: 0
  • Transparency & Controls: 60
  • Accountability: 85
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 73.7%; rating input score 74; 19th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -23.4% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -26.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -3.4% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed
  • Governance: 14 of 19 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $707K · 24 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.