Avera Granite Falls

What it reported doing in 2024

Avera Granite Falls' mission is to provide healthcare services to Granite Falls, Minnesota residents and residents of the surrounding area. Avera Granite Falls is a 501(c)(3) organization affiliated with Avera Health and controlled by Avera Marshall. Avera Granite Falls consists of a 25-bed critical access hospital, a 48-bed nursing home, a 28-unit senior living facility in Granite Falls, Minnesota, and one physician clinic. The program services offered include primary care, med/surg, lab, imaging, physical therapy, speech therapy, occupational therapy, respiratory therapy, ambulance, special transportation, ER, telehealth, infusion, general surgery, chemotherapy, cardiac rehab, long term care and independent living. Following is a breakdown of these statistics by facility: Avera Granite Falls Health Center 102 Acute patient discharges 53 Swing bed patient discharges 19,112 Outpatient visits 445 Swing-bed patient days 18,232 Clinic visitsAvera Granite Falls Care Center 17,083 Long-term resident days 40 Long Term Care patient dischargesAvera Granite Falls maintains records to identify and monitor the level of charity care it provides. These records include the amount of charges forgone for services and supplies furnished under its charity care policy and equivalent service statistics. The amount of charges foregone, based on established rates, were $468,358.Avera Granite Falls also provides community benefit health activities at less than or at no cost to support those in the area serviced, see Schedule H. As a member of the Avera Health Network, Avera Granite Falls upholds the vision of the Presentation and Benedictine Sisters to work through collaboration to provide quality, effective health ministry and to improve the healthcare of individuals and our communities through a regionally integrated network of persons and institutions. Avera Granite Falls engages in activities designed to improve the health of individuals and communities in response to a calling to heal the sick, the elderly, and the oppressed.

Financial Efficiency

• Mission deployment rate: 81.9%; rating input score 82
• Program expense ratio: 85.1%; rating input score 85
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 8th 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: No; rating input score 0

Accountability

• Independent voting board: 37.5%; rating input score 38; 7th 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: 5.8%; rating input score 56; 56th percentile among comparable filings
• Total-asset coverage ratio: 1.17; rating input score 42; 42nd percentile among comparable filings
• Liabilities to assets ratio: 0.35; rating input score 41; 41st percentile among comparable filings
• Officer compensation ratio: 4%; rating input score 59; 59th percentile among comparable filings

Growth

• Program expense growth: 11.1% per year; rating input score 100; 74th percentile among comparable filings
• Revenue growth: 10.1% per year; rating input score 100; 74th percentile among comparable filings
• Asset growth: 1.9% per year; rating input score 100; 17th percentile among comparable filings